Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 481

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 7A
Chunk 481
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by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods
specified in the SEC’s rules and forms and that such information is accumulated and communicated to our Chief Executive Officer
and Chief Financial Officer as appropriate to allow timely decisions regarding required disclosure.

We
carried out an evaluation, under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer,
of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 2024. Throughout the year,
Management addressed the weaknesses in internal control over financial reporting that were disclosed in our 2023 Form 10-K, namely: lack
of controls and process over significant estimates and judgment applied in assessing complex accounting transactions; lack of segregation
of duties over posting and reviewing complex accounting transactions; and lack of communication between legal consultants and management
related to SEC filing requirements. Management put in place a series of controls including increasing its technical strength through
the engagement of technical consultants and hiring of experienced personnel to address complex, non-routine accounting transactions;
the establishment of more thorough review procedures and documentation to ensure proper segregation of duties; and more routine, timely
engagement of legal counsel to ensure continued, timely compliance with SEC filing requirements. Based on the evaluation of our disclosure
controls and procedures as of December 31, 2024, our senior management concluded that our disclosure controls and procedures are effective .

-35-

Management’s
Report on Internal Control Over Financial Reporting

Our
management is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over
financial reporting, defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act, is a process designed by, or under the
supervision of, our principal executive and principal financial officers and effected by our Board, management and other personnel, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and
procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and
dispositions of our assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with accounting principles generally accepted in the United States and that receipts and expenditures of the
company are being made only in accordance with