Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 69

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 69
---
ivables, net 
     972,022  
     532,835 

5. EXPLORATION
AND EVALUATION ASSETS

The
exploration and evaluation assets of the Company consist of the acquisition costs of mining assets located in Botswana:

SCHEDULE
OF EXPLORATION AND EVALUATION ASSETS

    Selebi $  
    Selkirk $  
    Total $ 

    Botswana  

    Selebi $  
    Selkirk $  
    Total $ 

    Balance, December 31, 2022 
     8,251,518  
     327,109  
     8,578,627 
  
    Additions 
     483,883  
     -  
     483,883 
  
    Foreign currency translation 
     (449,878) 
     (17,834) 
     (467,712)
  
    Balance, December 31, 2023 
     8,285,523  
     309,275  
     8,594,798 
  
    Foreign currency translation 
     242,955  
     9,068  
     252,023 
  
    Balance, December 31, 2024 
     8,528,478  
     318,343  
     8,846,821 

The
following is a description of the Company’s exploration and evaluation assets and the related spending commitments:

Botswana
Assets - Selebi and Selkirk

In
September 2021, the Company executed the Selebi Asset Purchase Agreement (“Selebi APA”) with the BCL Limited (“BCL”)
liquidator to acquire the Selebi Mines formerly operated by BCL. In January 2022, the Company closed the transaction and ownership of
the Selebi Mines transferred to the Company.

Pursuant
to the Selebi APA, the aggregate purchase price payable to the seller for the Selebi Mines shall be the sum of $81,226,330 (US$56,750,000),
which amount shall be paid in three instalments:

●$2,086,830
                                            (US$1,750,000) payable on the closing date, and payment of care and maintenance funding
                                            contributions in respect of the Selebi Mines from March 22, 2021 to the closing date of $6,164,688