Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 15

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 15
---
 62.4 

    Total Inferred 
     24.72  
     1.50  
     0.92  
     371.7  
     227.9 

The
key assumptions, parameters, and methods used to estimate the mineral resources are contained in the Selebi TRS. Readers are cautioned
not to assume that all or any part of Indicated Mineral Resources will ever be converted into Mineral Reserves as defined by S-K 1300.
Readers are cautioned not to assume that all or any part of an Inferred Mineral Resource exists or is economically or legally mineable,
or that an Inferred Mineral Resource will ever be upgraded to a higher category.

Exploration

Exploration
work completed at the Selebi Mines from 2021 through to the date of this Report consisted of the sourcing and digitization of existing
historical information, confirming collar and down hole location information of selected historical holes, and drilling. PREM also completed
gyro, BHEM, televiewer, and downhole physical property surveys on selected high priority historical and recent exploration holes. A focused
structural model over a portion of the Selebi deposit was developed by SRK Consulting Ltd. (“SRK”), and a 3D model
of mineralization for use in targeting was created at Selebi North by SLR.

Selebi
North

In
August 2023, an underground resource and exploration drilling program at Selebi North was initiated, which continued throughout 2024
and into 2025. During 2024 and up to the filing of this Report, the Company has drilled approximately 45,827 metres in 87 holes, bringing
the SNUG drilling program total to 63,947 metres in 162 holes. Assays for a total of 33,963 metres across 80 completed holes have not
been accounted for in the Initial Selebi MRE. The program is a combination of infill and exploration drilling to follow the extension
of the mineralization down-dip and down-plunge. The core is sampled and sent to ALS Chemex in Johannesburg for analysis. All holes were
surveyed with a gyro instrument and selected holes were surveyed with BHEM. BHEM surveys have been completed in 89 underground holes.

-15-

Selebi
Main

A
total of 748 metres of surface drilling has been completed at Selebi Main in 2024 and to date. Historic hole sd120 was wedged