Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 25

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 25
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 than the discounted market price on the grant date and as approved by the Board of Directors of the Company. The Options
can be granted for a maximum term of ten years.

The
following summarizes the Option activity:

SCHEDULE
OF OPTION ACTIVITY

    Six months ended  
    Year ended 

    June 30, 2025  
    December 31, 2024 

    Number Outstanding   
    Weighted Average Exercise Price $  
    Number Outstanding   
    Weighted Average Exercise Price $ 
  
    Outstanding, beginning of the year 
     779,343  
     25.60  
     674,401  
     27.80 
  
    Granted 
     299,000  
     9.99  
     170,500  
     21.00 
  
    Exercised 
     -  
     -  
     (13,905) 
     (17.20)
  
    Expired/cancelled 
     (42,920) 
     (17.21) 
     (51,653) 
     (40.20)
  
    Outstanding, end of the period 
     1,035,423  
     21.44  
     779,343  
     25.60 

The
total intrinsic value of options exercised for the year ended December 31, 2024, was $149,405.

During
the six months ended June 30, 2025, the Company granted an aggregate of 299,000 Options to employees, directors, officers and consultants
with a term of five years. The Options have a weighted average exercise price of $9.99 per Common Share. Of the 299,000 stock options
granted, 287,500 vest as to one-half on the date of grant and the balance on the first anniversary of the date of grant, 7,000 vested
immediately on the date of grant, and 4,500 vest annually in equal thirds beginning on the date of grant.

For
the three and six months ended June 30, 2025, a total of $498,099 (three months ended June 30, 2024 - $389,612) and $1,377,612 (six months
ended June 30, 2024 – $779,224), respectively, was recorded as share-based compensation