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

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 10
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, platinum-group elements (“Ni-Cu-Co-PGE”) Selkirk mine
in Botswana, together with associated infrastructure and four surrounding prospecting licences (collectively, the “Selkirk
Mine” and together with the Selebi Mines, the “Mines”).

The
common shares of NEXM (“Common Shares”) are listed and posted for trading on the Nasdaq Capital Market (the
“Nasdaq”) and on the TSX Venture Exchange (the “TSXV”) under the symbol “NEXM”.
Prior to June 11, 2025, the Company traded on the TSXV under its previous name and symbol, Premium Resources Ltd. and
“PREM”, respectively. The Company’s head office is located at 3123-595 Burrard Street, Vancouver, British
Columbia, Canada, V7X 1J1, and registered office is located at 1111 West Hastings Street, 15th Floor, Vancouver, British Columbia,
Canada, V6E 2J3.

b)
Going Concern

The
Company, being in the exploration stage, is subject to risks and challenges similar to companies in a comparable stage of exploration
and development. These risks include the challenges of securing adequate capital for exploration and advancement of the Company’s
material projects, operational risks inherent in the mining industry, and global economic and metal price volatility, and there is no
assurance management will be successful in its endeavours.

These
unaudited condensed interim consolidated financial statements have been prepared on the assumption that the Company will continue as
a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities
in the ordinary course of operations. The ability of the Company to continue operations as a going concern is ultimately dependent upon
achieving profitable operations and its ability to obtain adequate financing. The Company incurred a net loss of $16,004,468
and $46,321,544 for the three and nine months ended September 30, 2025, respectively. To
date, the Company has not generated profitable operations from its resource activities and will need to invest additional funds in carrying
out its planned evaluation, development and operational activities.

It
is not possible to predict whether future financing efforts will be successful or if the Company will attain a profitable level of
operations. These material uncertainties cast substantial doubt about the Company’s ability to continue as a going concern.
These unaudited condensed interim