Company: PRMLF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022391
Chunk: 91

Company: NexMetals Mining Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 91
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 Canadian dollars. Reference herein of $ or CAD is to Canadian dollars, US$ or USD is to United
States dollars, and BWP is to Botswana pula.

The
significant accounting policies used in the preparation of these unaudited condensed interim consolidated financial statements are consistent
with those used in the preparation of the audited annual consolidated financial statements for the year ended December 31, 2024. Except
as described in Note 2(f) and (g), there were no changes in significant accounting policies during the three and nine months ended September
30, 2025.

(c)
Reclassification

Certain
comparative figures on the unaudited condensed interim consolidated balance sheets, unaudited condensed interim consolidated statements
of operations and comprehensive loss, unaudited condensed interim consolidated statements of cash flows, and the notes to the unaudited
condensed interim consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications
have no effect on net loss or shareholders’ equity as previously reported. For the three and nine months ended September 30, 2024,
an adjustment has been made to reduce share-based compensation by $933,619 and $1,712,843, respectively, on the face of the unaudited
condensed interim consolidated statement of operations and comprehensive loss, and to increase general and administrative expenses by
$548,776 and $1,082,348, respectively, and to increase general exploration expenses by $384,843 and $630,495, respectively. For the three
and nine months ended September 30, 2024, general and administrative expenses were reduced by $1,031,149 and $2,974,563, respectively,
with an increase to general exploration expenses of $924,622 and $2,707,944, respectively, and an increase to investor relations and
communications of $106,527 and $266,619, respectively. For the nine months ended September 30, 2024, operating cash outflows attributable
to the purchase of spares of $989,920 were reclassified to investing cash outflows. Trade payables and accruals of $584,364 were reclassified
from current to non-current for the year ended December 31, 2024.

    9

Notes
to the Unaudited Condensed Interim Consolidated Financial Statements

For
the three and nine months ended September 30, 2025 and 2024

(Express