Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 41

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 41
---
’00”E. Mining licence 2022/1L was granted to PNRPL on January 31, 2022, over the
Selebi Mines deposits discovered under mining licence 4/72. The original licence which had been granted to BCL Limited
(“BCL”) on March 7, 1972, which covered both Selebi and Phikwe project areas, was amended several times and
renewed once, and was set to expire on March 6, 2022. The current mining licence is limited to the Selebi Main and Selebi North
deposits and their surrounding areas, expires May 26, 2032, and excludes the Phikwe mines and associated infrastructure.

Selebi
Mines Mineral Resource Estimate, June 30, 2024

    Tonnage  
    Grade  
    Contained
    Metal 
  
    Classification 
    Deposit 
    (Mt)  
    (%
    Cu)  
    (%
    Ni)  
    (000
    t Cu)  
    (000
    t Ni) 
  
    Indicated 
    Selebi North 
     3.00  
     0.90  
     0.98  
     27.1  
     29.5 

    Total Indicated 
     3.00  
     0.90  
     0.98  
     27.1  
     29.5 
  
    Inferred 
    Selebi Main 
     18.89  
     1.69  
     0.88  
     319.2  
     165.5 

    Selebi North 
     5.83  
     0.90  
     1.07  
     52.5  
     62.4 

    Total Inferred 
     24.72  
     1.50  
     0.92  
     371.7  
     227.9 

The
key assumptions, parameters, and methods used to estimate the mineral resources are contained in the Selebi TRS. Readers are cautioned
not to assume that all or any part of Indicated Mineral Resources will ever be converted into Mineral Reserves as defined by S-K 1300.
Readers are cautioned not to assume that all or any part