Company: PRMLF
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0001641172-25-000043
Chunk: 102

Company: NexMetals Mining Corp.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1A
Chunk 102
---
 financial position or performance of the Company related
to its exploration and evaluation assets.

17. INCOME
TAXES 

The
reported recovery of income taxes differs from amounts computed by applying the statutory income tax rates to the reported loss before
income taxes as follows:

 SCHEDULE
OF STATUTORY INCOME TAX RATES

    Year ended December 31, 

    2024 $  
    2023 $ 
  
    Net loss before tax 
     (42,420,283) 
     (32,900,600)
  
    Combined basic federal and provincial income tax rate 
     26.50% 
     26.50%
  
    Expected income tax recovery at the statutory tax rate 
     (11,241,375) 
     (8,718,659)
  
    Adjustments to expected income tax recovery: 

    Permanent differences and other 
     4,455  
     (25,642)
  
    Share-based compensation 
     518,113  
     351,695 
  
    Change in estimates and other 
     (7,979) 
     31,343 
  
    Differences in foreign tax rates 
     1,673,237  
     510,308 
  
    Change in valuation allowance 
     9,053,549  
     7,326,424 
  
    Deferred tax recovery 
     -  
     (524,531)

    F-31

Notes
to the Consolidated Financial Statements

For
the years ended December 31, 2024 and 2023

(Expressed
in Canadian dollars)

The
Company has recorded a valuation allowance as the Company believes it is not probable that the deferred tax assets will be realized
in the foreseeable future. The Company’s deferred tax assets and liabilities are comprised of the following:

 SCHEDULE
OF DEFERRED TAX ASSETS AND LIABILITIES

    As at December 31, 

    2024 $  
    2023 $ 
  
    Deferred tax assets 

    Non-capital losses available for carry-forward 
     15,499,405  
     6,040,311 
  
    Property, plant and equipment 
     717,416  
     697,957 
  
    Resource deductions 
     1,142,853  
     1,142,853 
  
    Lease liabilities