Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 322

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1C
Chunk 322
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4 and 2023 are appended to this Report beginning on page
F-1.

-34-

(Formerly
Premium Nickel Resources Ltd.)

Consolidated
Financial Statements

For
the years ended December 31, 2024 and 2023

In
accordance with generally accepted accounting principles in the United States and pursuant to the rules and regulations of the U.S. Securities
and Exchange Commission and stated in Canadian dollars, unless otherwise indicated

INDEX

Independent Auditor’s Report (PCAOB ID 1930)

Consolidated
Financial Statements

    ■
    Consolidated Balance Sheets

    ■
    Consolidated Statements of Operations and Comprehensive Loss

    ■
    Consolidated Statements of Changes in Shareholders’ (Deficiency) Equity

    ■
    Consolidated Statements of Cash Flows

    ■
    Notes to the Consolidated Financial Statements

F-1

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Board of Directors and

Shareholders
of Premium Resources Ltd.

Opinion
on the Consolidated Financial Statements

We
have audited the accompanying consolidated balance sheets of Premium Resources Ltd. (Formerly Premium Nickel Resources Ltd ) (the “Company”)
as at December 31, 2024 and 2023, and the related consolidated statements of operations and comprehensive loss, changes in shareholders’
equity (deficiency), and cash flows for each of the years in the two-year period ended December 31, 2024, and the related notes (collectively
referred to as the “consolidated financial statements”).

In
our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the
Company as at December 31, 2024 and 2023, and the results of its consolidated operations and its consolidated cash flows for each of
the years in the two-year period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States
of America.

Material
Uncertainty Related to Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 1 to the consolidated financial statements, the Company has incurred recurring net losses and has no source of operating cash
flows. Which raises substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters
are also described in Note 1.