Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 22

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 22
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 western margin of the Selkirk area.

During
the year ended December 31, 2024, the Company incurred $1,477,696 (2023 - $1,233,342) in exploration and evaluation expenditures on the
Selkirk Mine. The Company incurred $327,109 to acquire the Selkirk Mine, and has incurred a further $3,058,502 in exploration and evaluation
expenditures project-to-date as at December 31, 2024.

-19-

Maniitsoq
Nickel-Copper-PGM Project, Southwest Greenland

No
exploration work was carried out in Greenland in 2024. In early December 2024, the Company notified the Government of Greenland that it was relinquishing its licences effective immediately and is awaiting final approval from authorities.

Canadian
Nickel Projects - Sudbury, Ontario

Post
Creek Property

The
Post Creek property is located 35 kilometres east of Sudbury in Norman, Parkin, Alymer and Rathburn townships and consists of 64 unpatented
mining claim cells in two separate blocks, covering a total area of 847 hectares held by the Company. The Company acquired the property
through an option agreement in April 2010, which was subsequently amended in March 2013. As at the date of this Report, the Company holds
a 100% interest in the Post Creek property and is obligated to pay advances on a net smelter return of $10,000 per annum, which will
be deducted from any payments to be made under the net smelter return.

The
Post Creek property lies adjacent to the Whistle Offset Dyke Structure which hosts the past–producing Whistle Offset and Podolsky
Cu-Ni-PGM mines. Post Creek lies along an interpreted northeast extension of the corridor containing the Whistle Offset Dyke and Footwall
deposits and accounts for a significant portion of all ore mined in the Sudbury nickel district and, as such, represents favourable exploration
targets. Key lithologies are Quartz Diorite and metabreccia related to offset dykes and Sudbury Breccia associated with Footwall rocks
of the Sudbury Igneous Complex which both represent potential controls on mineralization.

No
exploration work was completed in 2024 on the Post Creek Property. The claims have sufficient work credits to keep them in good standing
until 2027. No material expenditures or activities are contemplated on the Post Creek property