Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 510

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7A
Chunk 510
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 paid to executive
officers during the Company’s financial year ended December 31, 2024. Neither total compensation nor any significant element of total
compensation was tied to performance criteria or goals for the Company’s financial year ended December 31, 2024. The RSUs granted during
the year were in recognition of the successful completion and publication of the maiden NI 43-101 compliant mineral resource estimate
for the Selebi Mine. No other significant events occurred during the most recently completed financial year that significantly affected
compensation. The HRCC determines the amount to be paid for each significant element of compensation on a discretionary basis and in accordance
with the Company’s executive compensation program. At this time, the HRCC does not reference a peer group to determine executive officer
compensation. No significant changes to the Company’s compensation policies were made during or after the most recently completed financial
year that could or will have an effect on director or named executive officer compensation.

Compensation
Risks

The
HRCC is responsible for considering, reviewing and establishing executive compensation programs, and for assessing
whether the programs encourage unnecessary or excessive risk taking. The Company believes the programs are balanced and do not motivate
unnecessary or excessive risk taking.

Base
compensation amounts are fixed in amount and thus do not encourage risk taking. The Company does not currently have any annual incentive
or bonus programs.

RSU
and Option awards are important to further align the interests of executive officers with those of the Company’s shareholders. The ultimate
value of the awards is tied to the Company’s share price and, since awards are staggered and subject to multi-year vesting schedules,
they help ensure that executive officers have significant value tied to long-term share price performance.

Hedging

The
Company has not established any policies related to the purchase by directors or executive officers of financial instruments (including
prepaid variable forward contracts, equity swaps, collars, or units of exchange funds) that are designed to hedge or offset a decrease
in market value of equity securities granted as compensation or held, directly or indirectly, by any director or executive officer of
the Company.

Pension
Disclosure

No
pension, retirement or deferred compensation plans, including defined contribution plans, have been instituted by the Company and none
are proposed at this time.

-53-

Item
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

Security
Beneficial Ownership Table

The