Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 1

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 1
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 of sufficient quality, size and grade on any of the Company’s properties
to justify a commercial operation.

Development of the Company’s properties will
occur only after obtaining satisfactory exploration results. Although the Company’s properties were past producing, few properties
which are explored are ultimately developed into economically viable operating mines. There is no assurance that the Company’s mineral
exploration activities will result in the discovery of a body of commercial ore on its exploration properties. Several years may pass
between the discovery and development of commercial mineable mineralized deposits.

Exploration projects also face
significant operational risks including but not limited to an inability to obtain access rights to properties, accidents, equipment breakdowns,
labour disputes (including work stoppages and strikes), impact of health epidemics and other outbreaks of communicable diseases and other
unanticipated interruptions

Ability to establish our mineral reserves

The Company is a mineral exploration and development
company that is focused on the redevelopment of the previously producing Mines. To that end, the Company’s properties have no established
mineral reserves at this time. While the Selebi and Selkirk projects have mineral resource estimates (“MREs”), the
Company has not yet established any proven or probable mineral reserves on the Selebi Mines or Selkirk Mine projects. The lack of established
mineral reserves means that the economic viability of the Selebi and Selkirk projects has not been confirmed. There is no assurance that
further exploration will lead to the discovery of an economically viable mineral deposit.

Further, there is no assurance that any of the Company’s
projects can be mined profitably. Accordingly, it is not assured that the Company will realize any profits in the short to medium term,
if at all. Any profitability in the future from the business of the Company will be dependent upon the development and commercial mining
of economically viable mineral deposits, which in itself is subject to numerous risk factors.

The exploration and development of mineral deposits involves a high degree
of financial risk over a significant period of time that even a combination of management’s careful evaluation, experience and knowledge
may not eliminate. Few properties that are explored are ultimately developed into producing mines. Major expenses may be required to establish
resources and reserves by drilling and to construct mining and processing facilities at a particular site. It is impossible to ensure
that current work programs of the Company will result in profitable commercial mining operations. The profitability of the Company’s
operations will be, in part, directly related to the cost and success of its work programs, which