Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 71

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 71
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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), the impact of health epidemics and other outbreaks of communicable
diseases and other potential or unanticipated interruptions.

47

Inherent
risks associated with the economics of developing mineral properties

Substantial
expenses are required to establish and upgrade mineral resources and mineral reserves through drilling, to develop metallurgical processes
to extract metal from ore, and to develop the mining and processing facilities and infrastructure at any site chosen for mining. No assurance
can be given that minerals will be discovered in sufficient quantities to justify commercial operation or that the funds required for
development can be obtained on a timely basis.

The
marketability of any minerals acquired or discovered may be affected by numerous factors which are beyond the Company’s control
and many of which cannot be predicted, such as market fluctuations, the proximity and capacity of milling and smelting facilities, mineral
markets and processing equipment, and such other factors as government regulations, including regulations relating to royalties, permitted
production levels, importing and exporting of minerals, and environmental protection. Depending on the price of minerals produced, the
Company may determine that it is impractical to commence commercial production.

Inherent
risks associated with the estimation of the Company’s Mineral Resources

The
Company’s Mineral Resources are estimates only and no assurance can be given that the anticipated tonnages and grades will be achieved,
that the indicated level of recovery will be realized or that Mineral Resources will be upgraded to categories of greater certainty.
Estimating Mineral Resources involves both objective data and subjective judgment. The accuracy of these estimates depends on the amount
and quality of available information, as well as the assumptions and interpretations applied in the geological and engineering evaluations.
Mineral Resource estimates are largely derived from interpretations of geological data obtained through drilling and other sampling methods.
However, actual mineralization or geological structures may differ from these interpretations.

Many
Mineral Resource estimate assumptions, including metal prices, grades, and recoveries are inherently uncertain and any significant change
in these assumptions could result in a material downward or upward revision of current estimates. In addition, recoveries in small scale
laboratory testing may be difficult to duplicate in larger scale tests under on-site conditions or sustained during production. As a
result, Mineral Resources may not, or ever be, economically viable.

The
Company may be unable to establish Mineral Reserves