Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 136

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 136
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 down-plunge from the N3, N2, and South Limbs. Drill hole SNUG-25-184 intersected
mineralization in the South Limb 183 metres down-plunge from the Selebi Mines MRE, and in the N2 Limb 300 metres down-plunge of the MRE.
Highlights from this hole included 13.50 metres of 3.68% CuEq1 (1.13% Cu, 1.24% Ni, 0.06% Co) in the South Limb and 6.25 metres
of 2.16% CuEq1 (0.62% Cu, 0.75% Ni, 0.04% Co) in the N2 Limb. A BHEM survey completed in SNUG-25-184 revealed strong anomalies,
confirming the South Limb and N2 Limb remain open down-plunge.

Follow-up
hole SNUG-25-186 was drilled to test modeled conductors and intersected South Limb mineralization 132 metres down-plunge of SNUG-25-184.
Highlights from this hole included 16.25 metres of 3.06% CuEq1 (1.13% Cu, 0.94% Ni). As a result, South Limb mineralization
has been extended 315 metres down-plunge beyond the 2024 Selebi Mines MRE, representing an increase in the Selebi North South Limb plunge
extent by 35%.

Additional
holes have been designed to evaluate the lateral extent of the down-plunge extensions in the South Limb and N2 Limbs with the purpose
of collecting sufficient additional data to include the new mineralization in an updated MRE.

  ●
  SNUG-25-189 intersected mineralization in the South Limb and
N2 Limb with assay highlights of 4.90 metres of 4.39% CuEq1 (0.73% Cu, 1.77% Ni) in the South Limb and 19.40 metres of 3.93%
CuEq1 (1.05% Cu, 1.40 % Ni) in the N2 Limb.

  ●
  SNUG-25-194, the thickest
  interval of mineralization drilled thus far under the 2025 Selebi North Underground Resource Expansion Drilling program, intersected
  32.60 metres of continuous mineralization at South Limb,