Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 289

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 289
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 in massive sulphides and as later overgrowths.

Selebi
Mines Mineral Resource Estimate, June 30, 2024:

    Tonnage  
    Grade  
    Contained Metal 
  
    Classification 
    Deposit 
    (Mt)  
    (% Cu)  
    (% Ni)  
    (000 t Cu)  
    (000 t Ni) 
  
    Indicated 
    Selebi North 
     3.00  
     0.90  
     0.98  
     27.1  
     29.5 

    Total Indicated 
     3.00  
     0.90  
     0.98  
     27.1  
     29.5 
  
    Inferred 
    Selebi Main 
     18.89  
     1.69  
     0.88  
     319.2  
     165.5 

    Selebi North 
     5.83  
     0.90  
     1.07  
     52.5  
     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