Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 162

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 162
---
 which hosts intrusions with Ni-Cu-Co-PGM mineralization
related to a late 2690 Ma Archean magmatic event; and (b) the Neoproterozoic (1100 Ma MCR) magmatic event and related intrusions.

No
work was carried out on the Quetico property in 2024. The last remaining claims expired on April 26, 2024.

Internal
Controls over the Mineral Resources Estimation Process

The
Company uses an industry-standard approach to exploration and mineral resource estimation that results in reasonable and reliable estimates
aligned with industry practice and reporting regulations. The Company’s systems cover exploration activities, sample preparation
and analysis, mineral processing, metallurgical testing, recovery estimation, and mineral resource estimations. Controls include, but
are not limited to, use of certified laboratories, formal quality assurance and quality control (“QA/QC”) protocols,
standardized procedures, workflow processes, data verification, supervision and management approval, internal and external reviews, and
data security covering record keeping, chain of custody and data storage.

-20-

QA/QC
protocols over sampling and assaying of drill hole samples encompass the insertion of blind reference material samples including certified
reference materials (CRM) and blanks, as well as coarse reject duplicate samples in the primary sample streams. Selective pulp samples
are analyzed at a secondary laboratory. All results are reviewed upon receipt and actioned according to predefined failure criteria.
Internal reports are prepared to monitor performance and trends over longer periods.

Data
is maintained in an industry standard data management software with regular backups and internal controls. Prior to use in mineral resource
estimation, a third-party check verifies the drill hole database against laboratory sourced analytical certificates and validates the
data through several standard and specific tests, including review of QA/QC results.

The
mineral resource estimate is prepared by a third party whose standard workflow includes rigorous internal peer and senior review processes
that consider the suitability of technical and economic inputs and assumptions, the geological framework, mineralizing system, and interpolation
and classification approaches and execution. Results are reviewed internally by Company management.

Item
3. LEGAL PROCEEDINGS.

We
have no knowledge of any material, active, pending or threatened legal, administrative or judicial proceeding against us or our subsidiaries,
nor are we, or any subsidiary, involved as a plaintiff or defendant in any material proceeding or pending litigation.

Item
4. MINE SAFETY DISCLOSURES.

Not
applicable.

-21-

Part