Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 141

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 141
---
  
    (% Ni)  
    (g/t Pd)  
    (g/t Pt)  
    (000 t Cu)  
    (000 t Ni)  
    (000 oz Pd)  
    (000 oz Pt) 
  
    Inferred 
     44.2  
     0.30  
     0.24  
     0.55  
     0.12  
     132  
     108  
     775  
     174 

The
key assumptions, parameters, and methods used to estimate the mineral resources are contained in the Selkirk TRS. Readers are cautioned
not to assume that all or any part of an Inferred Mineral Resource exists or that, if it exists, is economically or legally mineable
or that an Inferred Mineral Resource will ever be upgraded to a higher category.

34

The
Selkirk MRE provides a solid foundation for advancing the Selkirk deposit to an economic study. It was prepared using results from 232
surface and 10 underground historical drillholes drilled between 2003 and 2016, five 2016 drillholes sampled by NEXM in 2021, and 17
historical drillholes resampled in 2024. Analytical results from NEXM re-sampling showed higher platinum group element values compared
to historic results. Cobalt, a potentially valuable by-product, has not been included in the Selkirk MRE as cobalt analyses are not consistently
available throughout the deposit. Planned metallurgical studies will determine payability of cobalt at the Selkirk Mine.

Exploration

In
May 2025, the Company commenced a 12-hole surface drilling program. The program was focused on twinning 11 historical holes to
collect metallurgical samples and validate legacy data with a twelfth hole to fill a gap in the resource. The 11 twinned holes
provided fresh HQ-sized core to support metallurgical flowsheets, generate material for preliminary XRT pre-concentration sorting
tests, and to support the potential expansion and upgrade of the resource. The Company has completed the 12-hole surface drilling
program which consisted of 3,903 metres. Assays have been released for 8 of the 11 holes, highlights of which include 201 metres of
0.91% CuEq2, 210 metres of 1.06% CuEq2, and