Company: NMEX
Filing Date: 2025-11-26
Form Type: 10-K/A
Source: 0001437749-25-036462
Chunk: 34

Company: NORTHERN MINERALS & EXPLORATION LTD.
Filing Date: 2025-11-26
Form: 10-K/A
Chunk 34
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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

The Company has a line of credit (“LOC”) with Mr. Miranda, a former director, for up to $500,000. The LOC bears interest at 5% to be paid quarterly and matures in five years. As of July 31, 2025, there is $135,000 and $2,040 of principal and accrued interest, respectively, due on the LOC.

For the years ending July 31, 2025 and 2024, total payments of $66,000 and $72,000, respectively, were made to Noel Schaefer, a Director of the Company, for consulting services. As of July 31, 2025 and 2024, there is $32,500 and $26,500, respectively, credited to other payables (long term).

For the years ending July 31, 2025 and 2024, total payments of $3,450 and $4,700, respectively, were made to Ivan Webb, CEO of the Company, for consulting services.

During the year ending July 31, 2025, Victor Miranda, a former Director, purchased 300,000 shares of common stock for total proceeds of $15,000.

During the year ending July 31, 2025, Robert Campbell, a former Director, purchased 400,000 shares of common stock for total proceeds of $20,000.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES

The aggregate fees billed for the most recently completed fiscal year ended July 31, 2025 and 2024 for professional services rendered by the principal accountant for the audit of our annual financial statements and review of the financial statements included in our quarterly reports on Form 10-Q and services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for these fiscal periods were as follows:

|                    |     | Year Ended | July 31, 2025 |     |   | July 31, 2024 |
|:-------------------|:----|:-----------|--------------:|:----|:--|--------------:|
| Audit Fees         |     | $          |        40,500 |     | $ |        32,500 |
| Audit Related Fees |     |            |             — |     |   |             — |
| Tax Fees           |     |            |             — |