Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 18

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 18
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27°44’17” E and is held by PNGPL, a subsidiary of PREM. The mining licence was
renewed for ten years commencing on May 27, 2022, ending on May 26, 2032. The four prospecting licences (PL050/2010, PL051/2010,
PL210/2010, and PL071/2011) expired September 30, 2024, and applications for renewal were submitted prior to the expiry date. The
Company received verbal confirmation that they were renewed during the first quarter of 2025 and will expire September 30,
2026.

Infrastructure

The
area is in a rural district and the available infrastructure is minimal. Strategic services (e.g., electricity and water supplies) could
be provided by the Botswana Power Corporation and from existing governmental water pipelines within the Francistown Road Reserve, and
potable water could be sourced on site from boreholes. A railway line crosses the western margin of the Selkirk area.

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History

Anglo
American Corporation of South Africa established the presence of nickel and copper occurrences at the sites of the ancient copper workings
in the area in 1929. Significant exploration started in the mid-1960s by the Tati Territory Exploration Company. The first exploration
campaigns included soil sampling, trench sampling, ground geophysics, and diamond drilling. At least four exploration and mining companies
have worked on the Selkirk Mine since the 1960s and extensive work has been done to characterize the economic potential of the property.

The
Selkirk underground mine was operated from 1989 to 2002 by Tati Nickel Mining Company (“TNMC”), a company created
specifically to exploit the deposit. More than 1 Mt of material grading 2.6% Ni and 1.6% Cu was extracted from a semi-elliptical deposit
of massive sulphide up to 20 m thick. Since 2003, extensive exploration has been completed to characterize the lower-grade/higher-tonnage
halo of disseminated sulphides both surrounding and down plunge (south) of the mined-out high-grade mineralization. Exploration and conceptual
studies were conducted by Lion Ore Mining Pty Ltd and subsequently by Norilsk Nickel Group of Companies through their ownership in TNMC.

Geological
Setting, Mineralization, and Deposit

The
Selkirk Mine lies within the Tati granite-greenstone belt of the Zimbabwe