Company: PRMLF
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-010011
Chunk: 90

Company: NexMetals Mining Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 2
Chunk 90
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and gravel roads from Gaborone and Francistown. The Selkirk Mine infrastructure includes relict surface infrastructure supporting the
historical underground mine, and the original decline. The Selkirk Mine is quite flat, and beyond the mine footprint is covered in grassland
with dispersed and clustered trees typical of a tree savanna biome.

The Selkirk Mine consists of a single
mining licence covering an area of 1,458 hectares (14.58 km2) and four prospecting licences covering a total of 12,670 hectares
(126.7 km2). The mining licence, 2022/7L, is centred approximately at 21°19’13” S and 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) were renewed during the first quarter of
2025 and will expire March 31, 2027.

Exploration

On January 31, 2025, the Company filed the Selkirk
MRE in conformance with the SEC’s Modernized Property Disclosure Requirements for Mining Registrants as described in Subpart 229.1300
of Regulation S-K, Disclosure by Registrants Engaged in Mining Operations (S-K 1300) and Item 601(b)(96) Technical Report Summary, entitled
“S-K 1300 Technical Report Summary, Selkirk Nickel Project, North East District, Republic of Botswana” and dated January
8, 2025 (with an effective date of November 1, 2024) for its Selkirk Mine.

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.