Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 3

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 3
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 These adjustments could be material. In assessing whether a going concern assumption is appropriate,
management considers all available information about the future, which is at least, but not limited to, twelve months from the date of
this Report.

From
time to time, the Company may issue new shares, seek debt financing, dispose of assets, or enter into transactions to acquire assets
or shares of other corporations. These transactions may be financed wholly or partially with debt, which may temporarily increase the
Company’s debt levels above industry standards.

Failure
to obtain additional financing or to achieve profitability and positive operating cash flows will have a material adverse effect on its
financial condition and results of operations.

-6-

III.
OPERATIONAL RISKS

Uninsured
risks and hazards

Mining
is capital intensive and subject to a number of risks and hazards, including environmental pollution, accidents or spills, industrial
and transportation accidents, labour disputes, changes in the regulatory environment, natural phenomena (such as inclement weather conditions,
earthquakes, pit wall failures and cave-ins) and encountering unusual or unexpected geological conditions. Such risks and hazards might
impact the Company’s business. Consequently, many of the foregoing risks and hazards could result in damage to, or destruction
of, the Company’s mineral properties or future processing facilities, personal injury or death, environmental damage, delays in
or interruption of or cessation of exploration or other activities, delay in or inability to receive required regulatory approvals, or
costs, monetary losses and potential legal liability and adverse governmental action. The Company may be subject to liability or sustain
loss for certain risks and hazards against which it does not or cannot insure or against which it may reasonably elect not to insure
because of the cost. This lack of insurance coverage could result in material economic harm to the Company.

Risks of doing business outside Canada

The Company’s material mineral projects are
located in the Republic of Botswana. The Company’s anticipated operations outside North America could subject the Company to a variety
of additional risks that may negatively impact its business and operations including any of the following: changes in rules and regulations
(including required royalties); failure of local parties to honour contractual relations; delays in obtaining or the inability to obtain
necessary governmental permits; opposition to mining from environmental or other non-governmental organizations; limitations on foreign
ownership; limitations on the repatriation of earnings; economic or tax policies; tariffs and trade barriers; regulations related to customs
and import/export matters; longer payment cycles; tax issues;