Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 175

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 175
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 $21,200,000 for the advancement of the Selebi Mines towards an economic
                                            study; and (ii) $1,309,125 for the last instalment of the purchase price of the Syringa
                                            Lodge.

(3)Represents
                                            the cost to advance the Selkirk Mine to a mineral resource estimate and exploration activities
                                            on the prospecting licences.

(4)Represents
                                            approximately: (i) $1,313,014 allocated to the payment of interest on the Term Loan; and
                                            (ii) approximately $2,500,000 allocated to general corporate expenses and working capital.

(5)Represents
                                            approximately: (i) $10,120,000 for the advancement of the Selebi Mines towards a NI 43-101
                                            compliant mineral resource estimate; and (ii) $1,400,000 for mining licence extension payment.

(6)Represents
                                            certain geophysics and geology costs, care and maintenance and prospecting licences.

(7)Represents
                                            approximately (i) $2,080,000 allocated to the payment of interest on the Term Loan; and (ii)
                                            $5,759,000 allocated to general corporate expenses.

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Going
Concern

The
ability of the Company to continue operations as a going concern is ultimately dependent upon achieving profitable operations and
its ability to obtain adequate financing. The Company incurred a net loss of $42,420,283 for the year ended December 31, 2024
(December 31, 2023 - $32,376,069). To date, the Company has not generated profitable operations from its resource activities. It is
not possible to predict whether future financing efforts will be successful or if the Company will attain a profitable level of
operations. These material uncertainties cast substantial doubt about the Company’s ability to continue as a going concern.
The accompanying Annual Financial Statements do not include any adjustments relating to the recoverability and classification of
recorded asset amounts and classification of liabilities, and the reported expenses and comprehensive loss that might be necessary
should the Company be unable to continue as a going concern. These adjustments could be material. In assessing whether a going
concern assumption is appropriate, management considers all available information about the future, which is at least, but not
limited to, twelve months from the date of this Report.

Contractual
Obligations and Contingencies

As
of December 31,