Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 158

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 158
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 quartz diorite and mimics the footwall contact. Currently available
drilling suggests that the shallow, previously mined, massive sulphide lens was synformal in shape and measured up to 70 m to 90 m wide,
averaged 20 m thick, and had a plunge extent of 200 m.

The
disseminated sulphide mineralization surrounding the massive sulphides is also synformal in shape, averages 120 m wide and 100 m to 150
m thick and plunges shallowly to the south at 25°. It is defined from surface over a distance of 900 m and remains open at depth.
Mineralization consists of pentlandite, pyrrhotite, chalcopyrite and pyrite. At least three generations of dykes crosscut the mineralized
metagabbro. Numerous faults traversing the deposit have been described in surface and underground mapping, none of which present significant
displacement at the deposit scale. The Selkirk metagabbro host has been attributed an age of 2.7 Ga.

Selkirk
Mine Mineral Resource Estimate, November 1, 2024:

    Classification 
    Tonnage  
    Grade  
    Contained Metal 

    (Mt)  
    (% Cu)  
    (% 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 is economically or legally mineable,
or that an Inferred Mineral Resource will ever be upgraded to a higher category.

-18-

Exploration

Exploration
work completed by PREM to date has consisted of the sourcing and digitization of existing historical information, confirming collar location
information on selected historical holes, re-logging selected drill core, sampling mineralized drill core found unsampled on surface,
sampling underground