Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 132

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 132
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2025, to advance
exploration and development activities at the Mines, and for working capital and general corporate purposes. See “Liquidity
and Capital Resources – Financings”.

29

Corporate
Social Responsibility

The
Company is committed to conducting its business in a socially responsible and sustainable manner, with a focus on environmental stewardship,
health and safety, community engagement and ethical conduct. The Company has established policies and procedures in its Code of Business
Conduct and Ethics to ensure compliance with applicable laws and regulations, as well as industry standards for responsible mining.
NEXM recognizes the importance of stakeholder engagement and works closely with local communities, indigenous groups and other stakeholders
to ensure their concerns and perspectives are heard and addressed.

Exploration
and Evaluation Activities

The
following table outlines the key milestones, estimated timing and costs related to each of the Mines, based on the Company’s reasonable
expectations, intended courses of action and current assumptions and judgement, with information based as of September 30, 2025.

    Key
    Milestones for Project 
     
    Expected
    Timing of Completion
     
    Anticipated
    Costs
  
    Exploration
    and Development

    Selebi
    Mines and Selkirk Mine exploration and drilling programs
     
    Ongoing,
    costs to December 31, 2025
     
    $1.9
    million to $2.5 million 
  
    Selebi
    Mines underground development
     
    Ongoing,
    costs to December 31, 2025
     
    $0.4
    million to $0.7 million 
  
    Capital
    expenditures(1)
     
    Ongoing,
    costs to December 31, 2025
     
    $0.8
    million to $1.2 million 
  
    Studies
    & Operating Costs

    Advancing
    project economics(2)
     
    Ongoing,
    costs to December 31, 2025
     
    $2.7
    million to $3.3 million
  
    Operating
    costs
     
    Ongoing,
    costs to December 31, 2025
     
    $2.8
    million to $3.4 million

Notes:

    (1)
    Includes mobile equipment purchases and refurbishments, electrical equipment, and a drill conversion kit in support of drill programs
and underground development.

    (2)
    Includes advancing