Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 41

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 41
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 equipment 
     8,055,668  
     8,488,405 

 14. CONTINGENT LIABILITIES

There are no environmental liabilities associated
with the Mines as at the acquisition dates as all liabilities incurred prior to the acquisitions are the responsibility of the sellers,
BCL and TNMC. The Company has an obligation for the rehabilitation costs arising subsequent to the acquisitions. As of March 31, 2025,
there were no material rehabilitation costs for which the Company expects to incur, and management is not aware of or anticipating any
contingent liabilities that could impact the financial position or performance of the Company related to its exploration and evaluation
assets.

 15. GENERAL AND ADMINISTRATIVE EXPENSES

Details of the general and administrative expenses are presented in
the following table:

GENERAL
AND ADMINISTRATIVE EXPENSES

    2025 $  
    2024 $ 

    Three months ended March 31, 

    2025 $  
    2024 $ 
  
    Advisory and consultancy 
     11,489  
     59,862 
  
    Filing fees 
     32,995  
     23,955 
  
    General office expenses 
     32,015  
     93,202 
  
    Insurance 
     76,478  
     85,180 
  
    Professional fees 
     265,513  
     135,480 
  
    Salaries and management fees 
     420,011  
     533,233 
  
    Share-based compensation 
     821,881  
     266,788 
  
    Total 
     1,660,382  
     1,197,700 

Share-based compensation expense for the three
months ended March 31, 2025, includes $551,721 related to the stock options granted on March 18, 2025 (Note 10), which vested as to one-half
on the date of grant and the balance vesting on the first anniversary of the date of grant.

27

Item 2. Management’s Discussion and Analysis
of Financial Condition and Results of Operations

The following management’s
discussion and analysis (this “MD&A”) of our financial condition and results of operation should be read in conjunction
with the unaudited condensed interim consolidated financial statements of the Company and accompanying notes thereto for the quarters
ended March 31,