Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 48

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 48
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 Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether
due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that our audits provide a reasonable basis for our opinion.

F-2

Critical
Audit Matters

The
critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements
that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are
material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. The
communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole,
and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the
accounts or disclosures to which they relate.

Going
Concern

Critical
Audit Matter Description

As
described in Note 1, the Company, being in the exploration stage, is subject to risks and challenges similar to companies in a comparable
stage. These risks include the challenges of securing adequate capital for exploration and 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 endeavors. 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. 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 exploration and operational activities. Management has prepared future cash flow
forecasts, which involves judgement and estimation of key variables, such as planned financing and capital and operational expenditures.
Future economic conditions and effects of key events subsequent to the year end, such as debt and equity financing, also impacted management’s
judgements and estimates. We identified the Company’s ability to continue as a going concern as a critical audit matter because
auditing the Company’s going concern assessment is complex and involves a high degree of auditor judgment to assess the reasonableness
of the cash flow forecasts, planned refinancing actions and other assumptions used in