Company: PRMLF
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011913
Chunk: 7

Company: NexMetals Mining Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 7
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    Foreign currency translation 
     (50,266) 
     (1,877) 
     (52,143)
  
    Balance, June 30, 2025 
     8,478,212  
     316,466  
     8,794,678 
  
    Balance 
     8,478,212  
     316,466  
     8,794,678 

The
following is a description of the Company’s exploration and evaluation assets and the related spending commitments:

Botswana
Assets - Selebi and Selkirk

In
September 2021, the Company executed the Selebi Asset Purchase Agreement (“Selebi APA”) with the BCL Limited (“BCL”)
liquidator to acquire the Selebi Mines formerly operated by BCL. In January 2022, the Company closed the transaction and ownership of
the Selebi Mines transferred to the Company.

Pursuant
to the Selebi APA, the aggregate purchase price payable to the seller for the Selebi Mines shall be the sum of $77,123,330 (US$56,750,000),
which amount shall be paid in three instalments: 

●$2,086,830
                                            (US$1,750,000) payable on the closing date. This payment has been made. The Company also
                                            made care and maintenance funding contributions in respect of the Selebi Mines from March
                                            22, 2021 to the closing date of $6,164,688 (US$5,178,747). 

    13

Notes to the Unaudited Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2025 and 2024

(Expressed in Canadian dollars)

●$34,107,500
                                            (US$25,000,000) payable upon the earlier of: (a) approval by the Botswana Ministry of Mineral
                                            Resources, Green Technology and Energy Security (“MMRGTES”) of the Company’s
                                            Section 42 and Section 43 applications (for the further extension of the mining licence and
                                            conversion of the mining licence into an operating licence, respectively), and (b) January
                                            31, 2026, the expiry date of the study phase.

●$40,929,000
                                            (US$30,000,000) payable on the completion of mine construction and production start-up