Premium Resources (PRMLF) 6-K 29 Nov 23 Current report (foreign) Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2023
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	000-14740
Document Fiscal Year Focus	Premium Nickel Resources Ltd.
Entity Central Index Key	0000795800
Entity Address, Address Line One	c/o Bennett Jones LLP
Entity Address, Address Line Two	3400 — One First Canadian Place
Entity Address, Address Line Three	P.O. Box 130
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5X 1A4

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Financial Position (Unaudited) - CAD ($)	Sep. 30, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash	$ 8,853,296	$ 5,162,991
Prepaid expenses	1,885,044	470,725
Other receivables	495,370	804,630
TOTAL CURRENT ASSETS	11,233,710	6,438,346
NON-CURRENT ASSETS
Exploration and evaluation assets	44,692,577	31,823,982
Property, plant and equipment	5,792,943	3,394,670
TOTAL NON-CURRENT ASSETS	50,485,520	35,218,652
TOTAL ASSETS	61,719,230	41,656,998
CURRENT LIABILITIES
Trade payables and accrued liabilities	3,148,177	4,025,716
Current portion of lease liability	1,892,504	1,365,697
Promissory note		7,070,959
TOTAL CURRENT LIABILITIES	5,040,681	12,462,372
NON-CURRENT LIABILITIES
Vehicle financing	165,019	164,644
Provision for leave and severance	435,045	177,941
Term loan	12,916,710
Lease liability		1,365,697
NSR option liability	2,750,000
Deferred share units liability	856,524	298,000
TOTAL NON-CURRENT LIABILITIES	17,123,298	2,006,282
TOTAL LIABILITIES	22,163,979	14,468,654
SHAREHOLDERS’ EQUITY
Share capital – common	111,226,156	91,144,268
Share capital – preferred	31,516	31,516
Reserve	18,987,978	15,257,140
Deficit	(87,222,991)	(78,092,605)
Foreign currency translation reserve	(3,467,408)	(1,151,975)
TOTAL SHAREHOLDERS’ EQUITY	39,555,251	27,188,344
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 61,719,230	$ 41,656,998

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
EXPENSES
Corporate and administration expenses	$ 1,036,363	$ 2,047,585	$ 3,278,926	$ 2,880,938
Management fees	865,446	625,905	2,496,109	1,701,211
Due diligence cost of Botswana assets		979		5,014
Advisory and consultancy	34,331	521,075	475,890	1,015,101
Depreciation	184,833	882	274,593	882
General exploration expenses	62,210		139,782
Interest and bank charges	17,035	7,302	34,865	15,851
Share-based payment		5,138,022		7,731,117
Deferred share units granted	252,120		558,524
Warrant fair value movement		(28,275,255)		(8,974,901)
Net foreign exchange loss	153,013	33,343	256,917	(127,449)
TOTAL EXPENSES	2,605,351	(19,900,162)	7,515,606	4,247,764
OTHER ITEMS
Interest expenses and fees	886,292	26,630	1,653,639	113,764
Acquisition loss on RTO		29,174,415		29,174,415
NET LOSS FOR THE PERIOD	3,491,643	9,300,883	9,169,245	33,535,943
OTHER COMPREHENSIVE LOSS
Exchange differences on translation of foreign operations	(109,273)	201,969	2,315,433	1,473,326
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ 3,382,370	$ 9,502,852	$ 11,484,678	$ 35,009,269
Basic loss per share	$ 0.02	$ 0.09	$ 0.09	$ 0.37
Diluted loss per share	$ 0.02	$ 0.09	$ 0.09	$ 0.37
Weighted average number of common shares outstanding - basic	135,730,527	105,842,672
Weighted average number of common shares outstanding - diluted	135,730,527	105,842,672	125,150,919	92,836,780

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - CAD ($)	Ordinary shares [member]	Preference shares [member]	Reserve [member]	Retained earnings [member]	Foreign currency translation reserve [member]	Total
Beginning balance at Dec. 31, 2021	$ 7,952,675		$ 1,261,891	$ (13,482,624)	$ (48,906)	$ (4,316,964)
Beginning balance, shares at Dec. 31, 2021	76,679,908
IfrsStatementLineItems [Line Items]
Net loss for the period				(33,535,943)		(33,535,943)
Share capital issued through private placement	$ 22,388,599					22,388,599
Share capital issued through private placement, shares	8,936,167
Share issue costs	$ (1,535,727)					(1,535,727)
Acquisition of NAN Cancelled PNRC shares held by NAN	$ (19,710,608)					(19,710,608)
Acquisition of NAN Cancel PNRC shares held by NAN, shares	(7,667,707)
Cancelled PNRC warrant held by NAN				(28,275,255)		(28,275,255)
PNRC shares exchanged
PNRC shares exchanged, shares	(77,948,368)
PNRC shares received in exchange
PNRC shares received in exchange, shares	82,157,536
Outstanding shares of NAN acquired on RTO	$ 77,431,152	31,516	9,665,577			87,128,245
Outstanding shares of NAN acquired on RTO, shares	31,748,399
Exercise of warrants	$ 569,399					569,399
Exercise of warrants, shares	1,236,408
FV of expired warrants	$ 3,019,037		(3,019,037)
Exercise of options	$ 117,000					117,000
Exercise of options, shares	300,000
FV of exercised options	$ 101,531		(101,531)
Share-based payment			7,731,117			7,731,117
Exchange differences on translation of foreign operations				(48,906)	(1,473,326)	(1,522,232)
Ending balance at Sep. 30, 2022	$ 90,333,058	31,516	15,538,017	(75,342,728)	(1,522,232)	29,037,631
Ending balance, shares at Sep. 30, 2022	115,442,343
Beginning balance at Dec. 31, 2022	$ 91,144,268	31,516	15,257,140	(78,092,605)	(1,151,975)	$ 27,188,344
Beginning balance, shares at Dec. 31, 2022	116,521,343					116,521,343
IfrsStatementLineItems [Line Items]
Net loss for the period				(9,169,245)		$ (9,169,245)
Share capital issued through private placement	$ 24,014,273					24,014,273
Share capital issued through private placement, shares	19,209,184
Share issue costs	$ (1,866,097)					(1,866,097)
FV of expired warrants			(38,859)	38,859
Share-based payment
Exchange differences on translation of foreign operations					(2,315,433)	(2,315,433)
Value allocated to warrants	(1,898,349)		1,898,349
FV of broker warrants	(167,939)		167,939
FV of lender warrants			1,703,409			1,703,409
Ending balance at Sep. 30, 2023	$ 111,226,156	$ 31,516	$ 18,987,978	$ (87,222,991)	$ (3,467,408)	$ 39,555,251
Ending balance, shares at Sep. 30, 2023	135,730,527					135,730,527

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Total net loss for the period	$ (9,169,245)	$ (33,535,943)
Items not affecting cash:
Share-based payment		7,731,117
Deferred share units granted	558,524
Depreciation	274,593	882
Provision for leave and severance	257,104	114,698
Accrued interests and accretion on loans	387,240
Warrant fair value movement		(8,974,901)
Loss on acquisition		29,174,415
Changes in working capital
Prepaid expenses	(1,517,818)	(406,752)
Other receivables	309,260	(51,912)
Trade payables and accrued expenses	(1,274,776)	1,464,695
Net cash used in operating activities	(10,175,118)	(4,483,701)
INVESTING ACTIVITIES
Acquisition of property, plant and equipment	(1,852,916)	(901,644)
Additions to expenditures on exploration and evaluation assets	(13,695,245)	(21,828,296)
Interest received	39,622
Cash received through RTO transaction		11,051,917
Net cash used in investing activities	(15,508,539)	(11,678,023)
FINANCING ACTIVITIES
Proceeds from issuance of units	23,814,272	22,032,927
Share issue costs	(1,818,956)	(1,535,727)
Loan proceeds, net of fees	14,625,000
Interest payment on the term loan	(390,411)
NSR Option financing	2,750,000
Proceeds from exercise of warrants and options		686,399
Promissory note repayment	(7,637,329)
Vehicle loan financing	375	172,800
Lease payment	(713,100)
Net cash provided by financing activities	30,629,851	21,356,399
Impact of currency translation for the foreign operations	(1,255,889)	(1,428,236)
Change in cash for the period	3,690,305	3,766,439
Cash at the beginning of the period	5,162,991	1,990,203
Cash at the end of the period	$ 8,853,296	$ 5,756,642

NATURE OF OPERATIONS AND GOING

NATURE OF OPERATIONS AND GOING CONCERN	9 Months Ended
	Sep. 30, 2023
Nature Of Operations And Going Concern
NATURE OF OPERATIONS AND GOING CONCERN	1. NATURE OF OPERATIONS AND GOING CONCERN Premium Nickel Resources Ltd. (TSXV: PNRL) (the “ Company PNRL RTO PNRC NAN Subco NAN Amalgamation Business Corporations Act OBCA TSXV Prior to the RTO, PNRC was a private company existing under the OBCA. PNRC was incorporated to evaluate, acquire, improve and reopen, assuming economic feasibility, a combination of certain assets of BCL Limited (“ BCL TNMC In connection with the RTO, the Company was continued under the OBCA and changed its name from “North American Nickel Inc.” to “Premium Nickel Resources Ltd.” Currently, the Company’s principal business activity is the evaluation and development of mineral properties in Botswana through its wholly-owned subsidiaries. The following corporate structure chart sets out details of the direct and indirect ownership of the principal subsidiaries of the Company: Notes (1) Premium Nickel Group Proprietary Limited owns the Selkirk Assets (as defined below). (2) Premium Nickel Resources Proprietary Limited owns the Selebi Assets (as defined below). Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) The Company has its head and registered office at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, Canada M5X 1A4. The principal assets of the Company are the Selebi and Selebi North nickel-copper-cobalt (“ Ni-Cu-Co Selebi Mines Selebi Assets Ni-Cu-Co-PGE Selkirk Mine Selkirk Assets Going Concern The Company, being in the exploration and redevelopment stage, is subject to risks and challenges similar to companies in a comparable stage of exploration and development. These risks include the challenges of securing adequate capital for exploration, development and operational risks inherent in the mining industry, and global economic and metal price volatility and there is no assurance management will be successful in its endeavors. As at September 30, 2023, the Company had no source of operating cash flows, nor any credit line currently in place. The Company incurred a net loss of $ 9,169,245 These unaudited condensed interim consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. The ability of the Company to continue operations as a going concern is ultimately dependent upon achieving profitable operations and its ability to obtain adequate financing. To date the Company has not generated profitable operations from its resource activities and will need to invest additional funds in carrying out its planned evaluation, development and operational activities. It is not possible to predict whether financing efforts will be successful or if the Company will attain a profitable level of operation. These material uncertainties cast substantial doubt about the Company’s ability to continue as a going concern. These unaudited condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities and the reported expenses and comprehensive loss that might be necessary should the Company be unable to continue as a going concern. These adjustments could be material. The properties in which the Company currently has an interest are in pre-revenue stage. As such, the Company is dependent on external financing to fund its activities. In order to carry out the planned development and cover administrative costs, the Company will use its existing working capital and raise additional amounts as needed. Although the Company has been successful in its past fundraising activities, there is no assurance as to the success of future fundraising efforts or as to the sufficiency of funds raised in the future. The Company will continue to assess new properties and seek to acquire interests in additional properties if there is sufficient geologic or economic potential and if adequate financial resources are available to do so. The unaudited condensed interim consolidated financial statements were approved and authorized for issuance by the Board of Directors of the Company on November 27, 2023. The discussion in the notes to the unaudited condensed interim consolidated financial statements is stated in Canadian dollars.

BASIS OF PREPARATION AND SIGNIF

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
Basis Of Preparation And Significant Accounting Policies
BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (a) Statement of Compliance These unaudited condensed interim consolidated financial statements were prepared in accordance with International Accounting Standards (“ IAS 34 Interim Financial Reporting Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) (b) Basis of preparation These unaudited condensed interim consolidated financial statements have been prepared under the historical cost convention, modified by the revaluation of any financial assets and financial liabilities where applicable. The preparation of unaudited condensed interim consolidated financial statements in conformity with IAS 34 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in the process of applying the Company’s accounting policies. The significant accounting policies used in the preparation of these unaudited condensed interim consolidated financial statements are consistent with those used in the preparation of the audited annual consolidated financial statements for the year ended December 31, 2022. (c) Basis of consolidation These unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. Effective August 3, 2022, NAN completed the 100 (d) New standards and amendments effective this year IAS 1 – In February 2021, the IASB issued “Disclosure of Accounting Policies” with amendments that are intended to help preparers in deciding which accounting policies to disclose in their financial statements. The amendments are effective for year ends beginning on or after January 1, 2023. The impact of adopting this amendment on the Company’s consolidated financial statements was not significant. IAS 8 – In February 2021, the IASB issued “Definition of Accounting Estimates” to help entities distinguish between accounting policies and accounting estimates. The amendments are effective for year ends beginning on or after January 1, 2023. The impact of adopting this amendment on the Company’s consolidated financial statements was not significant. (e) Accounting standards and amendments issued but not yet effective Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2023. Many are not applicable or do not have a significant impact to the Company and have been excluded. The following have not yet been adopted and are being evaluated to determine their impact on the Company. IAS 1 – Presentation of Financial Statements (“ IAS 1 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

AMALGAMATION

AMALGAMATION	9 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about business combination [abstract]
AMALGAMATION	3. AMALGAMATION On April 26, 2022, PNRC and NAN entered into a definitive amalgamation agreement (the “ Amalgamation Agreement Transaction Particulars Pursuant to the Amalgamation Agreement: (a) NAN’s subsidiary, 1000178269 Ontario Inc. (“ NAN Subco (b) Holders of PNRC shares exchanged their shares at a rate of 1.054 Exchange Ratio 5-to-1 (c) the transactions resulted in an RTO of the Company in accordance with the policies of the TSXV, all in the manner contemplated by, and pursuant to, the terms and conditions of the Amalgamation Agreement. In connection with the RTO, NAN, among other things: (a) changed its name to “Premium Nickel Resources Ltd.”; (b) changed its stock exchange ticker symbol to “PNRL”; and (c) reconstituted the board of directors and management of the Company. The outstanding options of PNRC immediately prior to the effective time of the RTO were exchanged and adjusted pursuant to the terms of the Amalgamation Agreement such that holders thereof were entitled to acquire, following the closing of the RTO, options of the Company after giving effect to the Exchange Ratio, as applicable. Pursuant to the Amalgamation Agreement, the Company issued 82,157,536 77,948,368 72.1 27.9 Prior to this exchange, NAN had 31,748,399 The substance of the transaction was a reverse acquisition of a public company. The transaction did not constitute a business acquisition as NAN did not meet the definition of a business under IFRS 3 as it had no inputs or processes. As a result, the transaction was accounted for as a capital transaction with NAN being identified as the accounting acquiree and the equity consideration being measured at fair value (“ FV The purchase price was determined based on the number of shares that PNRC would have had to issue on the date of closing to give the owners of NAN the same percentage equity ( 27.9 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) The costs of the acquisition have been allocated as follows: SUMMARY OF COST OF ACQUISITION FV of shares transferred $ 77,431,152 FV of options, warrants and agent warrants 9,665,577 FV of preferred shares 31,516 Settlement of pre-existing relationship – 15% warrant and shares* (47,985,863 ) Total FV of consideration transferred $ 39,142,383 Cash $ 11,051,917 Trade and other receivables 450,522 Property, plant and equipment 14,111 Trade payables and accrued liabilities (1,548,582 ) Net assets acquired 9,967,968 Loss on acquisition 29,174,415 Total Purchase Price $ 39,142,383 *Pre-existing relationship Before the closing of the RTO, NAN owned 7,667,707 15 15 10,000,000 15 15 Prior to the RTO, the fair value of the 15 28,275,255 19,710,608 2.57 0 3.14 141.63 Pursuant to the RTO, an aggregate of 8,827,250 Replacement Options PNRC Options 8,375,000 2,383,333 5,138,022 Given that the RTO has been accounted for as a reverse takeover of NAN by PNRC, from an accounting perspective, PNRC was deemed to have issued options and warrants to the former security holders of NAN. Immediately prior to the closing of the RTO, NAN had 2,995,794 2,228,340 118,186 13,131 2,995,794 2,228,340 118,186 9,665,577 2,327,125 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) The fair value of NAN’s options and warrants as at August 3, 2022 was calculated using the following assumptions: SCHEDULE OF FAIR VALUE ASSUMPTIONS OF OPTIONS AND WARRANTS As of August 3, 2022 Warrants Options Expected dividend yield 0 % 0 % Share price of last financing $ 0.48 $ 0.48 Expected share price volatility 64.91 113.22 133.15 143.3 Risk free interest rate 3.18 % 2.85 3.08 Remaining life of warrants & options 0.03 2 2.56 4.23 For purposes of determining the fair value of the share consideration exchanged on the RTO, the shares of PNRC were valued at USD 2.00 per share, the offering price for the PNRC shares on the last PNRC equity financing prior to the RTO. The RTO resulted in a loss of $ 29,174,415 with respect to the fair value of the consideration transferred over the fair value of identifiable net assets, which has been recorded as a loss during the year in other income.

OTHER RECEIVABLES

OTHER RECEIVABLES	9 Months Ended
	Sep. 30, 2023
Other Receivables
OTHER RECEIVABLES	4. OTHER RECEIVABLES A summary of the other receivables as at September 30, 2023 and December 31, 2022 is detailed in the table below: SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS September 30, 2023 December 31, 2022 HST paid on purchases 73,675 445,128 VAT paid on purchases 421,695 359,502 Total receivables and other current assets 495,370 804,630

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	9 Months Ended
	Sep. 30, 2023
Exploration And Evaluation Assets
EXPLORATION AND EVALUATION ASSETS	5. EXPLORATION AND EVALUATION ASSETS SUMMARY OF EXPLORATION AND EVALUATION ASSETS Selebi Selkirk Total Botswana Selebi Selkirk Total Balance, December 31, 2022 31,146,672 677,310 31,823,982 Beginning balance 31,146,672 677,310 31,823,982 Site operations & administration 642,581 41,132 683,713 Care and maintenance 2,289,013 - 2,289,013 Geology 2,392,480 318,587 2,711,067 Drilling 1,301,463 6,584 1,308,047 Geophysics 1,460,507 17,792 1,478,299 Engineering 5,169,574 32,789 5,202,363 Environmental, social and governance 184,441 - 184,441 Metallurgy and processing 58,517 101,692 160,209 Technical studies 20,879 7,650 28,529 Health and safety 314,540 - 314,540 Water treatment project 45,418 - 45,418 Mine development 173,885 - 173,885 Impact of foreign currency translation (1,658,930 ) (51,999 ) (1,710,929 ) Balance, September 30, 2023 43,541,040 1,151,537 44,692,577 Ending balance 43,541,040 1,151,537 44,692,577 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) The following is a description of the Company’s exploration and evaluation assets and the related spending commitments: Botswana Assets - Selebi and Selkirk On September 28, 2021, the Company executed the Selebi Asset Purchase Agreement (the “ Selebi APA Pursuant to the Selebi APA, the aggregate purchase price payable to the seller for the Selebi Assets shall be the sum of $ 76,862,200 56,750,000 ● $ 2,086,830 1,750,000 ● $ 33,860,000 25,000,000 MMRGTES ● The third instalment of $ 40,632,000 30,000,000 ● Payment of care and maintenance funding contribution in respect of the Selebi Assets for a total of $ 6,164,688 5,178,747 The total acquisition cost of the Selebi Assets included the first instalment of $ 2,086,830 1,750,000 6,164,688 5,178,747 Property, Plant and Equipment In addition to the Selebi APA, the purchase of the Selebi Assets is also subject to a contingent compensation agreement as well as a royalty agreement with the liquidator. PNRC also negotiated a separate asset purchase agreement (the “ Selkirk APA The Selkirk APA does not provide for a purchase price or initial payment for the purchase of the assets. The acquisition cost of the Selkirk Mine of $ 327,109 244,954 33,860,000 25,000,000 40,632,000 30,000,000 On August 16, 2023, the Company entered into a binding commitment letter with the Liquidator of BCL Limited, which is subject to customary final documentation, to acquire a 100% interest in two additional deposits (“ Phikwe South Southeast Extension The impact is to extend the northern boundary of the Selebi Mining Licence by 3.7 kilometres and increase the Selebi Mining License area from 115.0 square kilometres to 153.7 square kilometres. While the remaining historic resources at Phikwe South and Southeast Extension occur within the expanded Selebi Mining Licence, the amended licence intentionally does not include the historic mine workings and infrastructure at these previously-producing properties, and the Company has no liability for historic environmental issues at those sites. The upfront cost to the Company to acquire these additional mineral properties is USD 1,000,000 5,000,000 As a result of the extension of the Selebi Mining Licence, the remaining asset purchase obligations of the Company outlined in the original Selebi Mines asset purchase agreement with the Liquidator will each increase by 10%, $ 7,436,000 5,500,000 NSR During the nine months ended September 30, 2023, the Company incurred $ 12,868,595 21,783,763 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	6. PROPERTY, PLANT AND EQUIPMENT The table below sets out costs and accumulated amortization as at September 30, 2023. SUMMARY OF PROPERTY, PLANT AND EQUIPMENT Cost Land (ROU Assets) Buildings (ROU Assets) Furniture and Fixtures Exploration Equipment Generator Vehicles Computer and software Total Balance – December 31, 2022 220,242 2,857,179 126,605 11,973 31,381 241,884 1,950 3,491,214 Additions - - 67,551 2,735,000 - 85,365 - 2,887,916 Impact of FX translation (13,482 ) (171,900 ) (5,425 ) - (1,921 ) (22,322 ) - (215,050 ) Depreciation during the period - 91,865 - 137,838 441 44,449 - 274,593 Balance – September 30, 2023 206,760 2,685,279 188,731 2,746,973 29,460 304,927 1,950 6,164,080 Accumulated Depreciation Land (ROU Assets) Buildings (ROU Assets) Furniture and Fixtures Exploration Equipment Generator Vehicles Computer and software Total Balance – December 31, 2022 - 51,124 1,872 1,447 562 39,589 1,950 96,544 Depreciation during the period - 91,865 - 137,838 441 44,449 - 274,593 Balance – September 30, 2023 - 142,989 1,872 139,285 1,003 84,038 1,950 371,137 Carrying Value Land (ROU Assets) Buildings (ROU Assets) Furniture and Fixtures Exploration Equipment Generator Vehicles Computer and Software Total Balance – December 31, 2022 220,242 2,806,055 124,733 10,526 30,819 202,295 - 3,394,670 Beginning balance 220,242 2,806,055 124,733 10,526 30,819 202,295 - 3,394,670 Balance – September 30, 2023 206,760 2,542,290 186,859 2,607,688 28,457 220,889 - 5,792,943 Ending balance 206,760 2,542,290 186,859 2,607,688 28,457 220,889 - 5,792,943 Additions to property, plant and equipment during the period ended September 30, 2023 included the purchase of drilling equipment through a lease agreement with a drilling company (note 10) as well as vehicles financed through a local Botswana bank. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

TRADE PAYABLES AND ACCRUED LIAB

TRADE PAYABLES AND ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2023
Trade Payables And Accrued Liabilities
TRADE PAYABLES AND ACCRUED LIABILITIES	7. TRADE PAYABLES AND ACCRUED LIABILITIES SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2023 December 31, 2022 Amounts due to related parties (note 11) 256,554 43,235 Trade payables 2,014,674 3,660,519 Accrued liabilities 876,889 321,962 Trade payables and accrued liabilities 3,148,177 4,025,716

PROMISSORY NOTE

PROMISSORY NOTE	9 Months Ended
	Sep. 30, 2023
Promissory Note
PROMISSORY NOTE	8. PROMISSORY NOTE On November 21, 2022, the Company announced a $ 7,000,000 Bridge Loan Lender 6,740,000 260,000 Promissory Note 7 10 February 22, 2023 The Company extended the maturity to March 22, 2023. On March 17, 2023, the Company entered into an amended and restated promissory note (the “ A&R Promissory Note March 22, 2023 to November 24, 2023 Extension 225,000 350,000 Lender Warrants Common Shares 1.75 119,229 In connection with the A&R Promissory Note, the Company accrued $ 70,959 341,370 The fair value of the liability of the Lender Warrants was estimated at $ 116,177 225,000 On June 28, 2023, the Company repaid the Promissory Note in full including accrued interest and restatement fee in aggregate amount of $ 7,637,329 The fair value of the Lender warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF LENDER WARRANTS ASSUMPTIONS March 31, Expected dividend yield 0 % Stock price $ 1.40 Expected share price volatility 77.2 % Risk free interest rate 3.49 % Expected life of warrant 1 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

TERM LOAN

TERM LOAN	9 Months Ended
	Sep. 30, 2023
Term Loan
TERM LOAN	9. TERM LOAN On June 28, 2023, the Company closed a financing with Cymbria Corporation (“ Cymbria EdgePoint 33,999,200 Financing Transactions 16,249,200 Equity Financing three year 15,000,000 Term Loan 2,750,000 Option Payment 0.5 The Term Loan has a principal amount of $ 15,000,000 10 ● increase in the interest rate payable on the Term Loan to 15 ● the Company may prepay all or any portion of the principal amount outstanding with a minimum repayment amount of $ 500,000 100,000 ● if prepayment occurs within one year of the closing date, a prepayment fee in an amount equal to 10% of the principal amount of the Term Loan being prepaid less interest paid or payable on or prior to the date of prepayment attributable to the portion of the Term Loan Prepayment Fee ● mandatory prepayment shall be made when the Company has non-ordinary course asset sales or other dispositions of property or the Company receives cash from the issuance of indebtedness for borrowed money and all of the net cash proceeds from assets sales or new loans shall be applied to repay the principal amount of the Term Loan together with all accrued and unpaid interest on the principal amount being repaid as well as the Prepayment Fee if such mandatory prepayment occurs within one year of the closing date; and ● in the event of change of control, the Company shall repay the Term Loan in full plus a fee equal to 10% of the then-outstanding principal amount of the Term Loan. In connection with the Term Loan, the Company issued an aggregate of 2,000,000 Non-Transferable Warrants Lender 1.4375 The fair value of the Non-Transferable Warrants was estimated at $ 1,587,232 The fair value of the Non-Transferable Warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS ASSUMPTIONS June 28, Expected dividend yield 0 % Stock price $ 1.35 Expected share price volatility 92.06 % Risk free interest rate 4.13 % Expected life of warrant 3 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) The Company used $ 7,637,329 For the period ended September 30, 2023, The Company paid $ 390,411 The following is a continuity of the Term Loan SCHEDULE OF TERM LOAN $ Principal amount of the Term Loan 15,000,000 Fair value of the attached warrants (1,587,232 ) Term Loan at fair value on issuance, Jun 28, 2023 13,412,768 Transaction costs (695,798 ) Accrued interest 390,411 Interest paid (390,411 ) Amortization of warrant fair value and transaction costs 199,740 12,916,710

LEASE LIABILITY

LEASE LIABILITY	9 Months Ended
	Sep. 30, 2023
Lease Liability
LEASE LIABILITY	10. LEASE LIABILITY SCHEDULE OF DETAILS OF LEASE LIABILITIES September 30, 2023 December 31, 2022 Lease liabilities, beginning of the period 2,731,394 - Lease additions 2,735,000 3,213,404 Lease payments (3,602,167 ) (550,295 ) Interest expense on lease liabilities 233,327 68,285 Impact of FX translation (205,050 ) - IFRS 16 lease liabilities, end of the period 1,892,504 2,731,394 Current portion of lease liability (less than one year) 1,892,504 1,365,697 Long-term lease liability (one to five years) - 1,365,697 Syringa Lodge On July 9, 2022, the Company executed a sales agreement (the “ Lodge Agreement Seller Lodge As per the Lodge Agreement, the aggregate purchase price payable to the Seller shall be the sum of $ 3,213,404 30,720,000 482,011 4,608,000 1,365,697 13,056,000 In addition to the above purchase price, the Company is required to pay to the Seller an agreed interest amount in twelve equal monthly instalments of $ 13,657 130,560 6,828 65,280 Drilling Equipment On March 14, 2023, the Company entered into a drilling equipment supply agreement (the “ Equipment Agreement” Forage As per the Equipment Agreement, the aggregate purchase price payable to Forage is $ 2,942,000 1,700,000 103,500 2,735,000 35 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

NSR OPTION LIABLITY

NSR OPTION LIABLITY	9 Months Ended
	Sep. 30, 2023
Nsr Option Liablity
NSR OPTION LIABLITY	11. NSR OPTION LIABLITY Concurrently with the closings of the Equity Financing and the Term Loan on June 28, 2023, Cymbria paid an aggregate of $ 2,750,000 Option Payment 2,500,000 250,000 PNRL’s indirect wholly-owned subsidiary Premium Nickel Resources Proprietary Limited (“ PNRP 2 Selebi NSR 20,000,000 PNRL’s indirect wholly-owned subsidiary Premium Nickel Group Proprietary Limited (“ PNGP 1 Selkirk NSR NSRs 2,000,000 Each of PNRP and PNGP has agreed to grant Cymbria, in exchange for the Option Payment, an option to participate in any such repurchase of the applicable portion of its NSR from the relevant liquidator. Cymbria will, following the exercise of its option to participate in any such repurchase, acquire a 0.5 Under the NSR option purchase agreements, Cymbria could acquire a 0.5 10,675,231 8,102,500 1,067,523 810,250

SHARE CAPITAL, WARRANTS AND OPT

SHARE CAPITAL, WARRANTS AND OPTIONS	9 Months Ended
	Sep. 30, 2023
Share Capital Warrants And Options
SHARE CAPITAL, WARRANTS AND OPTIONS	12. SHARE CAPITAL, WARRANTS AND OPTIONS The authorized capital of the Company comprises an unlimited number of common shares without par value and 100,000,000 Effective August 3, 2022, in connection with the closing of the RTO, the Company completed a share consolidation of the Company’s issued and outstanding common shares and preferred shares, in each case exchanging one (1) post-consolidation share without par value for every five (5) pre-consolidation shares issued and outstanding. All references to share capital, warrants, options and weighted average number of shares outstanding have been adjusted in these financial statements and retrospectively to reflect the Company’s RTO share exchange and 5-for-1 a) Common Shares Issued and Outstanding During the nine months ended September 30, 2023, the Company completed the following financing transactions: On February 24, 2023, the Company issued 4,437,184 1.75 7,765,072 Offering In connection with the Offering, the Company: (a) paid to the agents a cash commission of $473,383, equal to 6% of the gross proceeds (other than on certain president’s list purchasers on which a cash commission of 3% was paid); and (b) issued to the agents that number of non-transferable broker warrants of the Company (the “ Broker Warrants 1.75 221,448 167,939 133,164 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) On June 28, 2023, the Company issued 14,772,000 1.10 16,249,200 Each unit comprises one common share of PNRL and 22.5% of one whole common share purchase warrant Transferable Warrant Transferable Warrants 3,324,000 1.4375 1,898,349 All securities issued in connection with the Financing Transactions are subject to a hold period of four months plus a day from the date of issued thereof and the resale rules of applicable securities legislation and policies of the TSX Venture Exchange. Fort Capital Partners acted as financial advisor to PNRL on the Financing Transactions and was paid cash fees of $ 812,460 5.0 561,394 240,596 The fair value of the warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF WARRANTS ASSUMPTIONS February 24, June 28, Expected dividend yield 0 % 0 % Stock price $ 1.73 $ 1.35 Expected share price volatility 77.52 % 92.06 % Risk free interest rate 4.28 % 4.13 % Expected life of warrant 2 3 As at September 30, 2023, the Company had 135,730,527 116,521,343 2022 In April 2022, PNRC completed a non-brokered private placement of 8,936,167 2.00 22,388,599 17,731,238 Finders 6 1,535,727 6 70,548 176,398 On August 3, 2022, PNRC combined with NAN in a reverse takeover transaction whereby shareholders of PNRC exchanged their shares at a rate of 1.054 5-to-1 82,157,536 77,948,368 31,748,399 113,905,935 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) b) Warrants A summary of common share purchase warrant activity for the nine months ended September 30, 2023 was as follows: SCHEDULE OF WARRANT ACTIVITY September 30, 2023 December 31, 2022 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the period 1,098,786 1.96 - - Issued 5,895,448 1.47 2,347,569 1.16 Exercised - - (1,236,408 ) 0.46 Cancelled/expired (159,836 ) 1.97 (12,375 ) - Outstanding, end of the period 6,834,398 1.53 1,098,786 1.96 At September 30, 2023, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS Warrants Outstanding Expiry Date Exercise Price ($) Weighted Average remaining contractual life (years) 643,299 October 16, 2023 1 1.75 0.00 295,651 August 3, 2024 2.40 0.04 221,448 February 24, 2025 1.75 0.05 350,000 March 22, 2024 1.75 0.02 5,324,000 June 28, 2026 1.4375 2.14 6,834,398 2.25 1. A total of 100,000 543,299 c) Stock Options The Company adopted a Stock Option Plan (the “ Plan Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) A summary of option activity under the Plan during the nine months ended September 30, 2023 is as follows: SCHEDULE OF OPTION ACTIVITY September 30, 2023 December 31, 2022 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the period 10,407,044 1.10 2,995,794 1.33 Issued 3,833,277 1.75 8,827,250 1.16 Exercised - - (1,416,000 ) 0.46 Outstanding, end of the period 14,240,321 1.28 10,407,044 1.10 During the nine months ended September 30, 2023, the Company granted an aggregate total of 3,833,277 five years 1.75 During the nine months ended September 30, 2022, prior to the RTO, PNRC granted an aggregate total of 2,600,000 five years 2.00 2.49 20,000,000 1.054 7,731,117 The fair value of stock options granted during the nine months ended September 30, 2023 was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS September 30, September 30, Expected dividend yield 0 % 0 % Expected share price volatility 87.92 % 126.68 129.48 Risk free interest rate 3.83 % 2.85 % Expected life of options 5 4.16 4.47 Details of options outstanding as at September 30, 2023 are as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS Options Outstanding Options Exercisable Expiry Date Exercise Price ($) Weighted average remaining contractual life (years) 900,000 900,000 February 24, 2025 0.80 0.09 240,000 240,000 August 19, 2025 0.45 0.03 3,689,000 3,689,000 January 26, 2026 0.39 0.60 495,000 495,000 February 25, 2026 1.60 0.08 1,343,850 1,343,850 September 29, 2026 0.91 0.28 998,794 998,794 October 25, 2026 2.00 0.22 2,740,400 2,740,400 January 20, 2027 2.40 0.64 3,833,277 - August 8, 2028 1.75 1.31 14,240,321 10,407,044 3.25 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) d) DSU Plan Effective December 2022, the Company approved a Deferred Share Unit Plan (“ DSU Plan During the nine months ended September 30, 2023, DSUs have been granted as follows: SCHEDULE OF DEFERRED SHARE UNIT PLAN HAVE BEEN GRANTED Number Market Price 1 ($) Fair Value ($) DSUs outstanding at December 31, 2022 200,000 1.49 298,000 DSUs granted during the period 2 407,463 1.37 558,524 DSUs outstanding at September 30, 2023 607,463 1.41 856,524 1. According to the DSU plan, Market Price is the volume weighted average price on the TSXV for the last five trading days immediately preceding the grant date. 2. DSUs were granted on March 31, Jun 30 and September 30, 2023. The market price of $ 1.37 During the nine months ended September 30, 2023, the DSU compensation totaled $ 558,524 298,000 e) Reserve The reserve records items recognized as stock-based compensation expense and other share-based payments until such time that the stock options or warrants are exercised, at which time the corresponding amount will be transferred to share capital. Amounts recorded for forfeited or expired unexercised options and warrants are transferred to deficit. During the nine months ended September 30, 2023, the Company recorded $ Nil 7,731,117 3,730,838 2,321,514

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2023
Related Party Transactions
RELATED PARTY TRANSACTIONS	13. RELATED PARTY TRANSACTIONS The following amounts due to related parties are included in trade payables and accrued liabilities (note 7). SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2023 December 31, 2022 Directors and officers of the Company 256,554 43,235 Total 256,554 43,235 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. (a) Related party transactions Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) As a result of the Financing Transactions on June 28, 2023, Cymbria and certain other funds managed by EdgePoint (the “ Financing Parties 14,772,000 10.9 5,324,000 three-year 1.4375 14.2 390,411 Nil During the year ended December 31, 2022, ThreeD Capital Inc. subscribed for a further 1,213,538 1,279,069 3,064,582 2,427,076 374,123 6,644,950 8,662,347 5.49 7.5 Between March 2 and March 3, 2022, PNRC issued promissory notes to its officers and directors as well as its shareholders as below: Directors and officers of the Company 35,000 ThreeD Capital Inc. 762,180 NAN 1,270,000 Total 2,067,180 On April 30, 2022, all amounts owing in respect of the above promissory notes were repaid in full by payment of cash in an amount of $ 2,018,568 310,000 326,740 (b) Key management personnel is defined as members of the Board of Directors and senior officers. Key management compensation was related to the following: SCHEDULE OF KEY MANAGEMENT COMPENSATION September 30, September 30, Management fees 2,496,109 1,701,211 Corporate and administration expenses 183,341 40,884 Total 2,679,450 1,742,095

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL INSTRUMENTS	14. FINANCIAL INSTRUMENTS The Company thoroughly examines the various financial instrument risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may include interest rate risk, credit risk, liquidity risk, market risk and currency risk. The carrying value of cash and trade payables and accrued liabilities approximate their fair value due to their short-term nature. The fair value of the Promissory Note, Term Loan, vehicle financing and lease liability are equal to their carrying values as all these amounts carry a fix interest rate. The fair value of the DSUs is the closing price of the Company’s common shares at the end of each reporting period. Fair value measurements of financial instruments are required to be classified using a fair value hierarchy that reflects the significance of inputs in making the measurements. The levels of the fair value hierarchy are defined as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 – Inputs for the asset or liability that are not based on observable market data. On September 30, 2023 and December 31, 2022, the fair value of cash and DSUs is based on Level 1 measurements. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

RISK MANAGEMENT

RISK MANAGEMENT	9 Months Ended
	Sep. 30, 2023
Risk Management
RISK MANAGEMENT	15. RISK MANAGEMENT The Company’s exposure to market risk includes, but is not limited to, the following risks: Interest Rate Risk Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not subject to significant changes in interest rates. Foreign Currency Exchange Rate Risk Currency risk is risk that the fair value of future cash flows will fluctuate because of changes in foreign currency exchange rates. In addition, the value of cash and other financial assets and liabilities denominated in foreign currencies can fluctuate with changes in currency exchange rates. The Company primarily operates in Canada, Barbados and Botswana and undertakes transactions denominated in foreign currencies such as US dollar and Botswana Pula, and consequently is exposed to exchange rate risks. Exchange risks are managed by matching levels of foreign currency balances and related obligations and by maintaining operating cash accounts in non-Canadian dollar currencies. Foreign currency denominated financial assets and liabilities which expose the Company to currency risk are disclosed below. The amount shown are those reported and translated into CAD at the closing rate. SCHEDULE OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES Short -term exposure Long-term exposure USD BWP BWP September 30, 2023 Financial assets 2,295,217 2,070,323 46,041,682 Financial liabilities (358,713 ) (2,285,426 ) (4,681,513 ) Total exposure 1,936,504 (215,103 ) 41,360,170 Short -term exposure Long-term exposure USD BWP BWP December 31, 2022 Financial assets 2,834,303 473,980 32,058,793 Financial liabilities (1,246,825 ) (2,176,110 ) (1,530,341 ) Total exposure 1,587,478 (1,702,130 ) 30,528,452 The following table illustrates the sensitivity of net loss in relation to the Company’s financial assets and financial liabilities and the USD/CAD exchange rate and BWP/CAD exchange rate, all other things being equal. It assumes a +/- 5% change of the USD/CAD and BWP/CAD exchange rates for the nine months ended September 30, 2023 and the year ended December 31, 2022, respectively. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) If the CAD strengthened against the USD and BWP by 5%, respectively (December 31, 2022 – 5 %), it would have had the following impact: SCHEDULE OF CHANGES IN EXCHANGE RATES Profit for the year Long-term exposure profit for the year USD BWP Total BWP September 30, 2023 96,825 (10,755 ) 86,070 2,068,008 December 31, 2022 79,374 (85,106 ) (5,732 ) 1,526,423 If the CAD weakened against the USD and BWP by 5%, respectively (December 31, 2022 – 5 %), it would have had the following impact: Profit for the year Long-term exposure profit for the year USD BWP Total BWP September 30, 2023 (96,825 ) 10,755 (86,070 ) (2,068,008 ) December 31, 2022 (79,374 ) 85,106 5,732 (1,526,423 ) The higher foreign currency exchange rate sensitivity in profit at September 30, 2023 compared with December 31, 2022 is attributable to fluctuations in foreign exchange rates, BWP and USD in relation to CAD. Credit Risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The credit risk is primarily associated with liquid financial assets. The Company limits exposure to credit risk on liquid financial assets by holding cash at highly-rated financial institutions. Liquidity Risk Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The Company manages the liquidity risk inherent in these financial obligations by regularly monitoring actual cash flows to annual budget which forecast cash and expected cash availability to meet future obligations. The Company will defer discretionary expenditures, as required, in order to manage and conserve cash required for current liabilities. The following table shows the Company’s contractual obligations as at September 30, 2023: SCHEDULE OF CONTRACTUAL OBLIGATIONS Less than 1 year 1 - 2 years 2 - 5 years Total Trade payables and accrued liabilities 3,148,177 - - 3,148,177 Vehicle financing 16,147 64,590 84,282 165,019 Term loan - - 12,856,979 12,856,979 Lease liability 1,892,504 - 1,892,504 Total 5,056,828 64,590 12,941,261 18,062,679 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars) Capital Risk Management The Company manages its capital to ensure that it will be able to continue as a going concern, so that adequate funds are available or are scheduled to be raised to meet its ongoing administrative and operating costs and obligations. This is achieved by the Board of Directors’ review and ultimate approval of budgets that are achievable within existing resources, and the timely matching and release of the next stage of expenditures with the resources made available from capital raises and debt funding from related or other parties. In doing so, the Company may issue new shares, restructure or issue new debt. The Company is not subject to any externally imposed capital requirements imposed by a regulator or a lending institution. In the management of capital, the Company includes the components of equity, loans and borrowings, and other current liabilities, net of cash. SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH September 30, December 31, Shareholder’s equity 39,555,251 27,188,344 Current liabilities 5,040,681 12,462,372 Total liabilities and equity 44,595,932 39,650,716 Cash (8,853,296 ) (5,162,991 ) Total 35,742,636 34,487,725

SEGMENTED INFORMATION

SEGMENTED INFORMATION	9 Months Ended
	Sep. 30, 2023
Segmented Information
SEGMENTED INFORMATION	16. SEGMENTED INFORMATION The Company operates in one reportable operating segment being that of the acquisition, exploration and development of mineral properties in three geographic segments being Botswana, Greenland and Canada. The Company’s geographic segments are as follows: SCHEDULE OF GEOGRAPHIC SEGMENTS September 30, 2023 December 31, Current assets Canada 6,122,644 3,198,344 Barbados 340,360 493,552 Botswana 4,770,706 2,746,450 Total 11,233,710 6,438,346 September 30, December 31, Property, plant and equipment Canada 9,438 10,714 Botswana 5,783,505 3,383,956 Total 5,792,943 3,394,670 September 30, December 31, Exploration and evaluation assets Botswana 44,692,577 31,823,982

CONTINGENT LIABILITIES

CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2023
Disclosure of contingent liabilities in business combination [abstract]
CONTINGENT LIABILITIES	17. CONTINGENT LIABILITIES There are no environmental liabilities associated with the Selebi Assets and the Selkirk Assets as at the acquisition dates as all liabilities prior to the acquisitions are the responsibility of the sellers, BCL and TNMC, respectively. The Company has an obligation for the rehabilitation costs arising subsequent to the acquisitions. As of September 30, 2023, management is not aware of or anticipating any contingent liabilities that could impact the financial position or performance of the Company related to its exploration and evaluation assets. The Company’s exploration and evaluation assets are affected by the laws and environmental regulations that exist in the various jurisdictions in which the Company operates. It is not possible to estimate the future contingent liabilities and the impact on the Company’s operating results due to future changes in Company’s development of its projects or future changes in such laws and environmental regulations.

BASIS OF PREPARATION AND SIGN_2

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Basis Of Preparation And Significant Accounting Policies
Statement of Compliance	(a) Statement of Compliance These unaudited condensed interim consolidated financial statements were prepared in accordance with International Accounting Standards (“ IAS 34 Interim Financial Reporting Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)
Basis of preparation	(b) Basis of preparation These unaudited condensed interim consolidated financial statements have been prepared under the historical cost convention, modified by the revaluation of any financial assets and financial liabilities where applicable. The preparation of unaudited condensed interim consolidated financial statements in conformity with IAS 34 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in the process of applying the Company’s accounting policies. The significant accounting policies used in the preparation of these unaudited condensed interim consolidated financial statements are consistent with those used in the preparation of the audited annual consolidated financial statements for the year ended December 31, 2022.
Basis of consolidation	(c) Basis of consolidation These unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. Effective August 3, 2022, NAN completed the 100
New standards and amendments effective this year	(d) New standards and amendments effective this year IAS 1 – In February 2021, the IASB issued “Disclosure of Accounting Policies” with amendments that are intended to help preparers in deciding which accounting policies to disclose in their financial statements. The amendments are effective for year ends beginning on or after January 1, 2023. The impact of adopting this amendment on the Company’s consolidated financial statements was not significant. IAS 8 – In February 2021, the IASB issued “Definition of Accounting Estimates” to help entities distinguish between accounting policies and accounting estimates. The amendments are effective for year ends beginning on or after January 1, 2023. The impact of adopting this amendment on the Company’s consolidated financial statements was not significant.
Accounting standards and amendments issued but not yet effective	(e) Accounting standards and amendments issued but not yet effective Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods commencing on or after January 1, 2023. Many are not applicable or do not have a significant impact to the Company and have been excluded. The following have not yet been adopted and are being evaluated to determine their impact on the Company. IAS 1 – Presentation of Financial Statements (“ IAS 1 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2023 (Expressed in Canadian dollars)

AMALGAMATION (Tables)

AMALGAMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about business combination [abstract]
SUMMARY OF COST OF ACQUISITION	The costs of the acquisition have been allocated as follows: SUMMARY OF COST OF ACQUISITION FV of shares transferred $ 77,431,152 FV of options, warrants and agent warrants 9,665,577 FV of preferred shares 31,516 Settlement of pre-existing relationship – 15% warrant and shares* (47,985,863 ) Total FV of consideration transferred $ 39,142,383 Cash $ 11,051,917 Trade and other receivables 450,522 Property, plant and equipment 14,111 Trade payables and accrued liabilities (1,548,582 ) Net assets acquired 9,967,968 Loss on acquisition 29,174,415 Total Purchase Price $ 39,142,383
SCHEDULE OF FAIR VALUE ASSUMPTIONS OF OPTIONS AND WARRANTS	The fair value of NAN’s options and warrants as at August 3, 2022 was calculated using the following assumptions: SCHEDULE OF FAIR VALUE ASSUMPTIONS OF OPTIONS AND WARRANTS As of August 3, 2022 Warrants Options Expected dividend yield 0 % 0 % Share price of last financing $ 0.48 $ 0.48 Expected share price volatility 64.91 113.22 133.15 143.3 Risk free interest rate 3.18 % 2.85 3.08 Remaining life of warrants & options 0.03 2 2.56 4.23

OTHER RECEIVABLES (Tables)

OTHER RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2023
Other Receivables
SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS	A summary of the other receivables as at September 30, 2023 and December 31, 2022 is detailed in the table below: SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS September 30, 2023 December 31, 2022 HST paid on purchases 73,675 445,128 VAT paid on purchases 421,695 359,502 Total receivables and other current assets 495,370 804,630

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Exploration And Evaluation Assets
SUMMARY OF EXPLORATION AND EVALUATION ASSETS	SUMMARY OF EXPLORATION AND EVALUATION ASSETS Selebi Selkirk Total Botswana Selebi Selkirk Total Balance, December 31, 2022 31,146,672 677,310 31,823,982 Beginning balance 31,146,672 677,310 31,823,982 Site operations & administration 642,581 41,132 683,713 Care and maintenance 2,289,013 - 2,289,013 Geology 2,392,480 318,587 2,711,067 Drilling 1,301,463 6,584 1,308,047 Geophysics 1,460,507 17,792 1,478,299 Engineering 5,169,574 32,789 5,202,363 Environmental, social and governance 184,441 - 184,441 Metallurgy and processing 58,517 101,692 160,209 Technical studies 20,879 7,650 28,529 Health and safety 314,540 - 314,540 Water treatment project 45,418 - 45,418 Mine development 173,885 - 173,885 Impact of foreign currency translation (1,658,930 ) (51,999 ) (1,710,929 ) Balance, September 30, 2023 43,541,040 1,151,537 44,692,577 Ending balance 43,541,040 1,151,537 44,692,577

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2023
Disclosure of detailed information about property, plant and equipment [abstract]
SUMMARY OF PROPERTY, PLANT AND EQUIPMENT	The table below sets out costs and accumulated amortization as at September 30, 2023. SUMMARY OF PROPERTY, PLANT AND EQUIPMENT Cost Land (ROU Assets) Buildings (ROU Assets) Furniture and Fixtures Exploration Equipment Generator Vehicles Computer and software Total Balance – December 31, 2022 220,242 2,857,179 126,605 11,973 31,381 241,884 1,950 3,491,214 Additions - - 67,551 2,735,000 - 85,365 - 2,887,916 Impact of FX translation (13,482 ) (171,900 ) (5,425 ) - (1,921 ) (22,322 ) - (215,050 ) Depreciation during the period - 91,865 - 137,838 441 44,449 - 274,593 Balance – September 30, 2023 206,760 2,685,279 188,731 2,746,973 29,460 304,927 1,950 6,164,080 Accumulated Depreciation Land (ROU Assets) Buildings (ROU Assets) Furniture and Fixtures Exploration Equipment Generator Vehicles Computer and software Total Balance – December 31, 2022 - 51,124 1,872 1,447 562 39,589 1,950 96,544 Depreciation during the period - 91,865 - 137,838 441 44,449 - 274,593 Balance – September 30, 2023 - 142,989 1,872 139,285 1,003 84,038 1,950 371,137 Carrying Value Land (ROU Assets) Buildings (ROU Assets) Furniture and Fixtures Exploration Equipment Generator Vehicles Computer and Software Total Balance – December 31, 2022 220,242 2,806,055 124,733 10,526 30,819 202,295 - 3,394,670 Beginning balance 220,242 2,806,055 124,733 10,526 30,819 202,295 - 3,394,670 Balance – September 30, 2023 206,760 2,542,290 186,859 2,607,688 28,457 220,889 - 5,792,943 Ending balance 206,760 2,542,290 186,859 2,607,688 28,457 220,889 - 5,792,943

TRADE PAYABLES AND ACCRUED LI_2

TRADE PAYABLES AND ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Trade Payables And Accrued Liabilities
SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES	SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2023 December 31, 2022 Amounts due to related parties (note 11) 256,554 43,235 Trade payables 2,014,674 3,660,519 Accrued liabilities 876,889 321,962 Trade payables and accrued liabilities 3,148,177 4,025,716

PROMISSORY NOTE (Tables)

PROMISSORY NOTE (Tables)	9 Months Ended
	Sep. 30, 2023
Promissory Note
SCHEDULE OF FAIR VALUE OF LENDER WARRANTS ASSUMPTIONS	The fair value of the Lender warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF LENDER WARRANTS ASSUMPTIONS March 31, Expected dividend yield 0 % Stock price $ 1.40 Expected share price volatility 77.2 % Risk free interest rate 3.49 % Expected life of warrant 1

TERM LOAN (Tables)

TERM LOAN (Tables)	9 Months Ended
	Sep. 30, 2023
Term Loan
SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS ASSUMPTIONS	The fair value of the Non-Transferable Warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS ASSUMPTIONS June 28, Expected dividend yield 0 % Stock price $ 1.35 Expected share price volatility 92.06 % Risk free interest rate 4.13 % Expected life of warrant 3
SCHEDULE OF TERM LOAN	The following is a continuity of the Term Loan SCHEDULE OF TERM LOAN $ Principal amount of the Term Loan 15,000,000 Fair value of the attached warrants (1,587,232 ) Term Loan at fair value on issuance, Jun 28, 2023 13,412,768 Transaction costs (695,798 ) Accrued interest 390,411 Interest paid (390,411 ) Amortization of warrant fair value and transaction costs 199,740 12,916,710

LEASE LIABILITY (Tables)

LEASE LIABILITY (Tables)	9 Months Ended
	Sep. 30, 2023
Lease Liability
SCHEDULE OF DETAILS OF LEASE LIABILITIES	SCHEDULE OF DETAILS OF LEASE LIABILITIES September 30, 2023 December 31, 2022 Lease liabilities, beginning of the period 2,731,394 - Lease additions 2,735,000 3,213,404 Lease payments (3,602,167 ) (550,295 ) Interest expense on lease liabilities 233,327 68,285 Impact of FX translation (205,050 ) - IFRS 16 lease liabilities, end of the period 1,892,504 2,731,394 Current portion of lease liability (less than one year) 1,892,504 1,365,697 Long-term lease liability (one to five years) - 1,365,697

SHARE CAPITAL, WARRANTS AND O_2

SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Share Capital Warrants And Options
SCHEDULE OF FAIR VALUE OF WARRANTS ASSUMPTIONS	The fair value of the warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF WARRANTS ASSUMPTIONS February 24, June 28, Expected dividend yield 0 % 0 % Stock price $ 1.73 $ 1.35 Expected share price volatility 77.52 % 92.06 % Risk free interest rate 4.28 % 4.13 % Expected life of warrant 2 3
SCHEDULE OF WARRANT ACTIVITY	A summary of common share purchase warrant activity for the nine months ended September 30, 2023 was as follows: SCHEDULE OF WARRANT ACTIVITY September 30, 2023 December 31, 2022 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the period 1,098,786 1.96 - - Issued 5,895,448 1.47 2,347,569 1.16 Exercised - - (1,236,408 ) 0.46 Cancelled/expired (159,836 ) 1.97 (12,375 ) - Outstanding, end of the period 6,834,398 1.53 1,098,786 1.96
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS	At September 30, 2023, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS Warrants Outstanding Expiry Date Exercise Price ($) Weighted Average remaining contractual life (years) 643,299 October 16, 2023 1 1.75 0.00 295,651 August 3, 2024 2.40 0.04 221,448 February 24, 2025 1.75 0.05 350,000 March 22, 2024 1.75 0.02 5,324,000 June 28, 2026 1.4375 2.14 6,834,398 2.25 1. A total of 100,000 543,299
SCHEDULE OF OPTION ACTIVITY	A summary of option activity under the Plan during the nine months ended September 30, 2023 is as follows: SCHEDULE OF OPTION ACTIVITY September 30, 2023 December 31, 2022 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the period 10,407,044 1.10 2,995,794 1.33 Issued 3,833,277 1.75 8,827,250 1.16 Exercised - - (1,416,000 ) 0.46 Outstanding, end of the period 14,240,321 1.28 10,407,044 1.10
SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS	The fair value of stock options granted during the nine months ended September 30, 2023 was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS September 30, September 30, Expected dividend yield 0 % 0 % Expected share price volatility 87.92 % 126.68 129.48 Risk free interest rate 3.83 % 2.85 % Expected life of options 5 4.16 4.47
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS	Details of options outstanding as at September 30, 2023 are as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS Options Outstanding Options Exercisable Expiry Date Exercise Price ($) Weighted average remaining contractual life (years) 900,000 900,000 February 24, 2025 0.80 0.09 240,000 240,000 August 19, 2025 0.45 0.03 3,689,000 3,689,000 January 26, 2026 0.39 0.60 495,000 495,000 February 25, 2026 1.60 0.08 1,343,850 1,343,850 September 29, 2026 0.91 0.28 998,794 998,794 October 25, 2026 2.00 0.22 2,740,400 2,740,400 January 20, 2027 2.40 0.64 3,833,277 - August 8, 2028 1.75 1.31 14,240,321 10,407,044 3.25
SCHEDULE OF DEFERRED SHARE UNIT PLAN HAVE BEEN GRANTED	During the nine months ended September 30, 2023, DSUs have been granted as follows: SCHEDULE OF DEFERRED SHARE UNIT PLAN HAVE BEEN GRANTED Number Market Price 1 ($) Fair Value ($) DSUs outstanding at December 31, 2022 200,000 1.49 298,000 DSUs granted during the period 2 407,463 1.37 558,524 DSUs outstanding at September 30, 2023 607,463 1.41 856,524 1. According to the DSU plan, Market Price is the volume weighted average price on the TSXV for the last five trading days immediately preceding the grant date. 2. DSUs were granted on March 31, Jun 30 and September 30, 2023. The market price of $ 1.37

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Related Party Transactions
SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES	The following amounts due to related parties are included in trade payables and accrued liabilities (note 7). SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2023 December 31, 2022 Directors and officers of the Company 256,554 43,235 Total 256,554 43,235 Directors and officers of the Company 35,000 ThreeD Capital Inc. 762,180 NAN 1,270,000 Total 2,067,180
SCHEDULE OF KEY MANAGEMENT COMPENSATION	Key management compensation was related to the following: SCHEDULE OF KEY MANAGEMENT COMPENSATION September 30, September 30, Management fees 2,496,109 1,701,211 Corporate and administration expenses 183,341 40,884 Total 2,679,450 1,742,095

RISK MANAGEMENT (Tables)

RISK MANAGEMENT (Tables)	9 Months Ended
	Sep. 30, 2023
Risk Management
SCHEDULE OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES	Foreign currency denominated financial assets and liabilities which expose the Company to currency risk are disclosed below. The amount shown are those reported and translated into CAD at the closing rate. SCHEDULE OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES Short -term exposure Long-term exposure USD BWP BWP September 30, 2023 Financial assets 2,295,217 2,070,323 46,041,682 Financial liabilities (358,713 ) (2,285,426 ) (4,681,513 ) Total exposure 1,936,504 (215,103 ) 41,360,170 Short -term exposure Long-term exposure USD BWP BWP December 31, 2022 Financial assets 2,834,303 473,980 32,058,793 Financial liabilities (1,246,825 ) (2,176,110 ) (1,530,341 ) Total exposure 1,587,478 (1,702,130 ) 30,528,452
SCHEDULE OF CHANGES IN EXCHANGE RATES	If the CAD strengthened against the USD and BWP by 5%, respectively (December 31, 2022 – 5 %), it would have had the following impact: SCHEDULE OF CHANGES IN EXCHANGE RATES Profit for the year Long-term exposure profit for the year USD BWP Total BWP September 30, 2023 96,825 (10,755 ) 86,070 2,068,008 December 31, 2022 79,374 (85,106 ) (5,732 ) 1,526,423 If the CAD weakened against the USD and BWP by 5%, respectively (December 31, 2022 – 5 %), it would have had the following impact: Profit for the year Long-term exposure profit for the year USD BWP Total BWP September 30, 2023 (96,825 ) 10,755 (86,070 ) (2,068,008 ) December 31, 2022 (79,374 ) 85,106 5,732 (1,526,423 )
SCHEDULE OF CONTRACTUAL OBLIGATIONS	The following table shows the Company’s contractual obligations as at September 30, 2023: SCHEDULE OF CONTRACTUAL OBLIGATIONS Less than 1 year 1 - 2 years 2 - 5 years Total Trade payables and accrued liabilities 3,148,177 - - 3,148,177 Vehicle financing 16,147 64,590 84,282 165,019 Term loan - - 12,856,979 12,856,979 Lease liability 1,892,504 - 1,892,504 Total 5,056,828 64,590 12,941,261 18,062,679
SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH	In the management of capital, the Company includes the components of equity, loans and borrowings, and other current liabilities, net of cash. SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH September 30, December 31, Shareholder’s equity 39,555,251 27,188,344 Current liabilities 5,040,681 12,462,372 Total liabilities and equity 44,595,932 39,650,716 Cash (8,853,296 ) (5,162,991 ) Total 35,742,636 34,487,725

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Segmented Information
SCHEDULE OF GEOGRAPHIC SEGMENTS	SCHEDULE OF GEOGRAPHIC SEGMENTS September 30, 2023 December 31, Current assets Canada 6,122,644 3,198,344 Barbados 340,360 493,552 Botswana 4,770,706 2,746,450 Total 11,233,710 6,438,346 September 30, December 31, Property, plant and equipment Canada 9,438 10,714 Botswana 5,783,505 3,383,956 Total 5,792,943 3,394,670 September 30, December 31, Exploration and evaluation assets Botswana 44,692,577 31,823,982

NATURE OF OPERATIONS AND GOIN_2

NATURE OF OPERATIONS AND GOING CONCERN (Details Narrative) - CAD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Nature Of Operations And Going Concern
Net loss	$ 9,169,245	$ 33,535,943

BASIS OF PREPARATION AND SIGN_3

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Aug. 03, 2022
North American Nickel Inc [member]
IfrsStatementLineItems [Line Items]
Percentage of voting equity interests acquired	100%

SUMMARY OF COST OF ACQUISITION

SUMMARY OF COST OF ACQUISITION (Details) - North American Nickel Inc [member]	Apr. 26, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
FV of shares transferred	$ 77,431,152
FV of options, warrants and agent warrants	9,665,577
FV of preferred shares	31,516
Settlement of pre-existing relationship – 15% warrant and shares*	(47,985,863)
Total Purchase Price	39,142,383
Cash	11,051,917
Trade and other receivables	450,522
Property, plant and equipment	14,111
Trade payables and accrued liabilities	(1,548,582)
Net assets acquired	9,967,968
Loss on acquisition	$ 29,174,415

SUMMARY OF COST OF ACQUISITIO_2

SUMMARY OF COST OF ACQUISITION (Details) (Parenthetical) - CAD ($)		9 Months Ended
	Aug. 03, 2022	Sep. 30, 2023	Sep. 30, 2022	Jun. 28, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Number of common shares		135,730,527			116,521,343
Warrant percent	15%
Fair value of warrants				$ 1,587,232
Expected life of warrants	2 years 6 months 25 days
Expected dividend yield	0%	0%	0%
Risk free interest rate	3.14%	3.83%	2.85%
Expected volatility rate	141.63%	87.92%
Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Number of common shares		135,730,527	115,442,343		116,521,343	76,679,908
North American Nickel Inc [member]
IfrsStatementLineItems [Line Items]
Fair value of warrants	$ 28,275,255
Fair value of shares	$ 19,710,608
North American Nickel Inc [member] | Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Number of common shares	7,667,707
Outstanding capital percent	15%
Capital to be issued	$ 10,000,000

SCHEDULE OF FAIR VALUE ASSUMPTI

SCHEDULE OF FAIR VALUE ASSUMPTIONS OF OPTIONS AND WARRANTS (Details) - $ / shares				9 Months Ended
	Jun. 28, 2023	Feb. 24, 2023	Aug. 03, 2022	Sep. 30, 2023	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
Expected dividend yield			0%	0%	0%
Expected share price volatility			141.63%	87.92%
Risk free interest rate			3.14%	3.83%	2.85%
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility					126.68%
Top of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility					129.48%
Warrants [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield	0%	0%	0%
Share price of last financing			$ 0.48
Expected share price volatility	92.06%	77.52%
Risk free interest rate	4.13%	4.28%	3.18%
Warrants [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility			64.91%
Remaining life of warrants and options			10 days
Warrants [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility			113.22%
Remaining life of warrants and options			2 years
Options [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield			0%
Share price of last financing			$ 0.48
Options [member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility			133.15%
Risk free interest rate			2.85%
Remaining life of warrants and options			2 years 6 months 21 days
Options [member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility			143.30%
Risk free interest rate			3.08%
Remaining life of warrants and options			4 years 2 months 23 days

AMALGAMATION (Details Narrative

AMALGAMATION (Details Narrative)			9 Months Ended
	Aug. 03, 2022 CAD ($) shares	Apr. 26, 2022	Sep. 30, 2023 CAD ($) shares	Sep. 30, 2022 CAD ($)	Jun. 28, 2023 CAD ($)	Dec. 31, 2022 shares	Aug. 03, 2022 $ / shares	Aug. 03, 2022 CAD ($) shares	Dec. 31, 2021 shares
IfrsStatementLineItems [Line Items]
Share consolidation description			5-for-1
Common share issued			135,730,527			116,521,343
Outstanding shares	31,748,399
Option outstanding			14,240,321			10,407,044			2,995,794
Fair value of options, warrants and preferred shares | $								$ 9,665,577
Transaction costs | $					$ 695,798			$ 2,327,125
Profit (loss) | $			$ (9,169,245)	$ (33,535,943)
Preference shares [member]
IfrsStatementLineItems [Line Items]
Conversion of stock, shares issued								118,186
Conversion of stock, shares to be issued								13,131
Profit (loss) | $
Premium nickel resources corporation [member]
IfrsStatementLineItems [Line Items]
Common share issued								82,157,536
Outstanding shares	77,948,368
Ownership percentage of post RTO	72.10%
Options to purchase shares	8,375,000
Unvested options								2,383,333
Fair value of stock option | $								$ 5,138,022
Par value per share | $ / shares							$ 2
North American Nickel Inc [member]
IfrsStatementLineItems [Line Items]
Ownership percentage of post RTO	27.90%
Option outstanding								2,995,794
Warrants outstanding								2,228,340
Reverse takeover transaction [member]
IfrsStatementLineItems [Line Items]
Options to purchase shares	8,827,250
Profit (loss) | $	$ 29,174,415
North American Nickel Inc [member] | Amalgamation Agreement [member]
IfrsStatementLineItems [Line Items]
Exchange ratio for RTO		1.054						1.054
Share consolidation description	5-to-1	5-to-1

SCHEDULE OF RECEIVABLES AND OTH

SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS (Details) - CAD ($)	Sep. 30, 2023	Dec. 31, 2022
Other Receivables
HST paid on purchases	$ 73,675	$ 445,128
VAT paid on purchases	421,695	359,502
Total receivables and other current assets	$ 495,370	$ 804,630

SUMMARY OF EXPLORATION AND EVAL

SUMMARY OF EXPLORATION AND EVALUATION ASSETS (Details) - Exploration and Evaluation Assets Arising from Exploration [Member]	9 Months Ended
	Sep. 30, 2023 CAD ($)
IfrsStatementLineItems [Line Items]
Beginning balance	$ 31,823,982
Site operations & administration	683,713
Care and maintenance	2,289,013
Geology	2,711,067
Drilling	1,308,047
Geophysics	1,478,299
Engineering	5,202,363
Environmental, social and governance	184,441
Metallurgy and processing	160,209
Technical studies	28,529
Health and safety	314,540
Water treatment project	45,418
Mine development	173,885
Impact of foreign currency translation	(1,710,929)
Ending balance	44,692,577
Selebi [member] | BW [member]
IfrsStatementLineItems [Line Items]
Beginning balance	31,146,672
Site operations & administration	642,581
Care and maintenance	2,289,013
Geology	2,392,480
Drilling	1,301,463
Geophysics	1,460,507
Engineering	5,169,574
Environmental, social and governance	184,441
Metallurgy and processing	58,517
Technical studies	20,879
Health and safety	314,540
Water treatment project	45,418
Mine development	173,885
Impact of foreign currency translation	(1,658,930)
Ending balance	43,541,040
Selkirk [member] | BW [member]
IfrsStatementLineItems [Line Items]
Beginning balance	677,310
Site operations & administration	41,132
Care and maintenance
Geology	318,587
Drilling	6,584
Geophysics	17,792
Engineering	32,789
Environmental, social and governance
Metallurgy and processing	101,692
Technical studies	7,650
Health and safety
Water treatment project
Mine development
Impact of foreign currency translation	(51,999)
Ending balance	$ 1,151,537

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details Narrative)

9 Months Ended

Aug. 16, 2023 USD ($)

Aug. 16, 2023 CAD ($)

Aug. 22, 2022 USD ($)

Aug. 22, 2022 CAD ($)

Sep. 28, 2021 USD ($)

Sep. 28, 2021 CAD ($)

Mar. 22, 2021 USD ($)

Mar. 22, 2021 CAD ($)

Sep. 30, 2023 CAD ($)

Sep. 30, 2022 CAD ($)

Aug. 22, 2022 CAD ($)

Sep. 28, 2021 CAD ($)

IfrsStatementLineItems [Line Items]

Description of binding commitment letter

Company entered into a binding commitment letter with the Liquidator of BCL Limited, which is subject to customary final documentation, to acquire a 100% interest in two additional deposits (“Phikwe South” and the “Southeast Extension”) located adjacent to and immediately north of the Selebi North mine.

Company entered into a binding commitment letter with the Liquidator of BCL Limited, which is subject to customary final documentation, to acquire a 100% interest in two additional deposits (“Phikwe South” and the “Southeast Extension”) located adjacent to and immediately north of the Selebi North mine.

Upfront cost to acquire additional mineral properties

$ 1,000,000

Work commitments amount for next four years

$ 5,000,000

Description of extension of selebi mining license

As a result of the extension of the Selebi Mining Licence, the remaining asset purchase obligations of the Company outlined in the original Selebi Mines asset purchase agreement with the Liquidator will each increase by 10%, $7,436,000 (USD 5,500,000) in total, while the trigger events remain unchanged. The existing 2% net smelter royalty (“NSR”) held by the Liquidator with respect to production from the Selebi Mining Licence will also apply to production from these additional deposits, subject to the Company’s existing buy-back right for 50% of the NSR.

As a result of the extension of the Selebi Mining Licence, the remaining asset purchase obligations of the Company outlined in the original Selebi Mines asset purchase agreement with the Liquidator will each increase by 10%, $7,436,000 (USD 5,500,000) in total, while the trigger events remain unchanged. The existing 2% net smelter royalty (“NSR”) held by the Liquidator with respect to production from the Selebi Mining Licence will also apply to production from these additional deposits, subject to the Company’s existing buy-back right for 50% of the NSR.

Remaining asset purchase obligation

$ 5,500,000

$ 7,436,000

Selebi [member]

IfrsStatementLineItems [Line Items]

Assets purchase price

$ 56,750,000

$ 76,862,200

Closing payment

1,750,000

$ 2,086,830

Second installment of asset purchase price

25,000,000

33,860,000

Third installment of asset purchase price

30,000,000

40,632,000

Payment of care and maintenance

$ 5,178,747

$ 6,164,688

Acquisition cost

1,750,000

$ 2,086,830

Payment of care and maintenance funding

$ 5,178,747

$ 6,164,688

Payment of second instalment

$ 25,000,000

$ 33,860,000

Payment of third instalment

30,000,000

$ 40,632,000

Exploration related cost

$ 12,868,595

Selkirk [member]

IfrsStatementLineItems [Line Items]

Acquisition cost

$ 244,954

$ 327,109

Exploration and assets related expenditure

$ 21,783,763

SUMMARY OF PROPERTY, PLANT AND

SUMMARY OF PROPERTY, PLANT AND EQUIPMENT (Details)	9 Months Ended
	Sep. 30, 2023 CAD ($)
IfrsStatementLineItems [Line Items]
Beginning balance	$ 3,394,670
Ending balance	5,792,943
Land [member]
IfrsStatementLineItems [Line Items]
Beginning balance	220,242
Ending balance	206,760
Buildings [member]
IfrsStatementLineItems [Line Items]
Beginning balance	2,806,055
Ending balance	2,542,290
Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Beginning balance	124,733
Ending balance	186,859
Exploration equipment [member]
IfrsStatementLineItems [Line Items]
Beginning balance	10,526
Ending balance	2,607,688
Generator [member]
IfrsStatementLineItems [Line Items]
Beginning balance	30,819
Ending balance	28,457
Vehicles [member]
IfrsStatementLineItems [Line Items]
Beginning balance	202,295
Ending balance	220,889
Computer equipments and software [member]
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance
Gross carrying amount [member]
IfrsStatementLineItems [Line Items]
Beginning balance	3,491,214
Additions	2,887,916
Impact of FX translation	(215,050)
Ending balance	6,164,080
Gross carrying amount [member] | Land [member]
IfrsStatementLineItems [Line Items]
Beginning balance	220,242
Additions
Impact of FX translation	(13,482)
Ending balance	206,760
Gross carrying amount [member] | Buildings [member]
IfrsStatementLineItems [Line Items]
Beginning balance	2,857,179
Additions
Impact of FX translation	(171,900)
Ending balance	2,685,279
Gross carrying amount [member] | Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Beginning balance	126,605
Additions	67,551
Impact of FX translation	(5,425)
Ending balance	188,731
Gross carrying amount [member] | Exploration equipment [member]
IfrsStatementLineItems [Line Items]
Beginning balance	11,973
Additions	2,735,000
Impact of FX translation
Ending balance	2,746,973
Gross carrying amount [member] | Generator [member]
IfrsStatementLineItems [Line Items]
Beginning balance	31,381
Additions
Impact of FX translation	(1,921)
Ending balance	29,460
Gross carrying amount [member] | Vehicles [member]
IfrsStatementLineItems [Line Items]
Beginning balance	241,884
Additions	85,365
Impact of FX translation	(22,322)
Ending balance	304,927
Gross carrying amount [member] | Computer equipments and software [member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,950
Additions
Impact of FX translation
Ending balance	1,950
Accumulated depreciation [member]
IfrsStatementLineItems [Line Items]
Beginning balance	96,544
Depreciation during the period	274,593
Ending balance	371,137
Accumulated depreciation [member] | Land [member]
IfrsStatementLineItems [Line Items]
Beginning balance
Depreciation during the period
Ending balance
Accumulated depreciation [member] | Buildings [member]
IfrsStatementLineItems [Line Items]
Beginning balance	51,124
Depreciation during the period	91,865
Ending balance	142,989
Accumulated depreciation [member] | Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,872
Depreciation during the period
Ending balance	1,872
Accumulated depreciation [member] | Exploration equipment [member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,447
Depreciation during the period	137,838
Ending balance	139,285
Accumulated depreciation [member] | Generator [member]
IfrsStatementLineItems [Line Items]
Beginning balance	562
Depreciation during the period	441
Ending balance	1,003
Accumulated depreciation [member] | Vehicles [member]
IfrsStatementLineItems [Line Items]
Beginning balance	39,589
Depreciation during the period	44,449
Ending balance	84,038
Accumulated depreciation [member] | Computer equipments and software [member]
IfrsStatementLineItems [Line Items]
Beginning balance	1,950
Depreciation during the period
Ending balance	$ 1,950

SUMMARY OF TRADE PAYABLES AND A

SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($)	Sep. 30, 2023	Mar. 03, 2023	Dec. 31, 2022
Trade Payables And Accrued Liabilities
Amounts due to related parties (note 11)	$ 256,554	$ 2,067,180	$ 43,235
Trade payables	2,014,674		3,660,519
Accrued liabilities	876,889		321,962
Trade payables and accrued liabilities	$ 3,148,177		$ 4,025,716

SCHEDULE OF FAIR VALUE OF LENDE

SCHEDULE OF FAIR VALUE OF LENDER WARRANTS ASSUMPTIONS (Details) - $ / shares		3 Months Ended	9 Months Ended
	Aug. 03, 2022	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
Expected dividend yield	0%		0%	0%
Expected share price volatility	141.63%		87.92%
Risk free interest rate	3.14%		3.83%	2.85%
Expected life of warrant			5 years
Lender warrants [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield		0%
Stock price		$ 1.40
Expected share price volatility		77.20%
Risk free interest rate		3.49%
Expected life of warrant		1 year

PROMISSORY NOTE (Details Narrat

PROMISSORY NOTE (Details Narrative)				9 Months Ended	12 Months Ended
	Jun. 28, 2023 CAD ($)	Mar. 17, 2023 CAD ($) shares $ / shares	Nov. 21, 2022 CAD ($)	Sep. 30, 2023 CAD ($) shares	Dec. 31, 2022 CAD ($) shares
IfrsStatementLineItems [Line Items]
Number of warrants issued | shares				5,895,448	2,347,569
Accrued interest	$ 390,411
Repayment of promissory note, including principal, interests and fees	7,637,329
Lender warrants [member]
IfrsStatementLineItems [Line Items]
Fair value of warrants liability				$ 116,177
Lender [member]
IfrsStatementLineItems [Line Items]
Non-transferrable common share purchase warrants | shares		350,000
Lender [member] | Warrants [member]
IfrsStatementLineItems [Line Items]
Number of warrants issued | shares		119,229
Amended and restated promissory note [member]
IfrsStatementLineItems [Line Items]
Extend maturity date description		March 22, 2023 to November 24, 2023
Promissory note restatement fee		$ 225,000
Amended and restated promissory note [member] | Lender warrants [member]
IfrsStatementLineItems [Line Items]
Warrant exercise price | $ / shares		$ 1.75
Promissory Note restatement fee				225,000
Repayment of promissory note, including principal, interests and fees	$ 7,637,329
Pinnacle island LP [member]
IfrsStatementLineItems [Line Items]
Bridge loan			$ 7,000,000
Proceeds from loans			6,740,000
Commitment fee			260,000
Promissory note principal amount			$ 7,000,000
Annual interest rate			10%
Maturity date			February 22, 2023
Extend maturity date description			The Company extended the maturity to March 22, 2023.
Accrued interest				$ 341,370	$ 70,959

SCHEDULE OF FAIR VALUE OF NON-T

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE WARRANTS ASSUMPTIONS (Details) - $ / shares			9 Months Ended
	Jun. 28, 2023	Aug. 03, 2022	Sep. 30, 2023	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
Expected dividend yield		0%	0%	0%
Expected share price volatility		141.63%	87.92%
Risk free interest rate		3.14%	3.83%	2.85%
Expected life of warrant			5 years
Non Transferable Warrants [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield	0%
Stock price	$ 1.35
Expected share price volatility	92.06%
Risk free interest rate	4.13%
Expected life of warrant	3 years

SCHEDULE OF TERM LOAN (Details)

SCHEDULE OF TERM LOAN (Details) - CAD ($)	Sep. 30, 2023	Jun. 28, 2023	Dec. 31, 2022	Aug. 03, 2022
Term Loan
Principal amount of the Term Loan		$ 15,000,000
Fair value of the attached warrants		(1,587,232)
Term Loan at fair value on issuance, Jun 28, 2023		13,412,768
Transaction costs		(695,798)		$ (2,327,125)
Accrued interest	$ 390,411	390,411
Interest paid		(390,411)
Amortization of warrant fair value and transaction costs		199,740
Term loan	$ 12,916,710	$ 12,916,710

TERM LOAN (Details Narrative)

TERM LOAN (Details Narrative) - CAD ($)		9 Months Ended
	Jun. 28, 2023	Sep. 30, 2023	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
Aggregate gross proceeds to PNRL		$ 14,625,000
Notional amount	$ 15,000,000
Description of prepayment fee	if prepayment occurs within one year of the closing date, a prepayment fee in an amount equal to 10% of the principal amount of the Term Loan being prepaid less interest paid or payable on or prior to the date of prepayment attributable to the portion of the Term Loan
Description of repayment of term loan	Company shall repay the Term Loan in full plus a fee equal to 10% of the then-outstanding principal amount of the Term Loan.
Fair value of warrant	$ 1,587,232
Repayment of Promissory Note	7,637,329
Accrued interest	$ 390,411	$ 390,411
Non Transferable Warrants [member]
IfrsStatementLineItems [Line Items]
Non-transferable warrants issued	2,000,000
Warrant exercise price	$ 1.4375
Edge Point Investment Group Inc [Member]
IfrsStatementLineItems [Line Items]
Aggregate gross proceeds to PNRL	$ 33,999,200
Equity offering	$ 16,249,200
Debt instruments term	3 years
Principal amount of term loan	$ 15,000,000
Option payment	$ 2,750,000
Acquire percentage	0.50%
Term loan interest rate	10%
Increasing percentage of interest rate payable on term loan	15%
Minimum repayment amount	$ 500,000
Notional amount	$ 100,000

SCHEDULE OF DETAILS OF LEASE LI

SCHEDULE OF DETAILS OF LEASE LIABILITIES (Details) - CAD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Lease Liability
Lease liabilities, beginning of the period	$ 2,731,394
Lease additions	2,735,000	3,213,404
Lease payments	(3,602,167)	(550,295)
Interest expense on lease liabilities	233,327	68,285
Impact of FX translation	(205,050)
IFRS 16 lease liabilities, end of the period	1,892,504	2,731,394
Current portion of lease liability (less than one year)	1,892,504	1,365,697
Long-term lease liability (one to five year)		$ 1,365,697

LEASE LIABILITY (Details Narrat

LEASE LIABILITY (Details Narrative)	Mar. 14, 2023 CAD ($)	Jul. 09, 2022 CAD ($)	Jul. 09, 2022 BWP (P)	Aug. 01, 2024 CAD ($)	Aug. 01, 2024 BWP (P)	Jul. 01, 2023 CAD ($)	Jul. 01, 2023 BWP (P)	Aug. 17, 2022 CAD ($)	Aug. 17, 2022 BWP (P)	Jul. 09, 2022 BWP (P)
Tuli Tourism Pty Ltd. [member]
IfrsStatementLineItems [Line Items]
Asset purchase price payable		$ 3,213,404	P 30,720,000
Deposits paid								$ 482,011	P 4,608,000
Installment of asset purchase price						$ 1,365,697	P 13,056,000
Monthly interest payable within first 12 months		13,657								P 130,560
Monthly interest payable non-current		$ 6,828								P 65,280
Tuli Tourism Pty Ltd. [member] | Non-adjusting events after reporting period [member]
IfrsStatementLineItems [Line Items]
Installment of asset purchase price				$ 1,365,697	P 13,056,000
Forage Fusion Drilling Ltd [Member]
IfrsStatementLineItems [Line Items]
Asset purchase price payable	$ 2,942,000
Deposits paid	1,700,000
Installment of asset purchase price	103,500
Asset purchase price	$ 2,735,000
Implied interest rate	35%

NSR OPTION LIABLITY (Details Na

NSR OPTION LIABLITY (Details Narrative)	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CAD ($)	Jun. 28, 2023 USD ($)	Jun. 28, 2023 CAD ($)	Dec. 31, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
Option liability		$ 2,750,000		$ 2,750,000
Percentage of net smelter returns royalty acquired			0.50%	0.50%
Selebi Mines [Member]
IfrsStatementLineItems [Line Items]
Royalty purchase price	$ 8,102,500	10,675,231
Selkirk Mine [Member]
IfrsStatementLineItems [Line Items]
Royalty purchase price	$ 810,250	$ 1,067,523
Premium Nickel Resources Proprietary Limited [Member]
IfrsStatementLineItems [Line Items]
Option liability				$ 2,500,000
Premium Nickel Resources Proprietary Limited [Member] | Acquisition Agreement [member]
IfrsStatementLineItems [Line Items]
Acquire percentage			2%	2%
Payment to liquidator			$ 20,000,000
Premium Nickel Group Proprietary Limited [Member]
IfrsStatementLineItems [Line Items]
Option liability				$ 250,000
Premium Nickel Group Proprietary Limited [Member] | Acquisition Agreement [member]
IfrsStatementLineItems [Line Items]
Acquire percentage			1%	1%
Payment to liquidator			$ 2,000,000
PNRP and PNGP [Member]
IfrsStatementLineItems [Line Items]
Percentage of net smelter returns royalty acquired			0.50%	0.50%

SCHEDULE OF FAIR VALUE OF WARRA

SCHEDULE OF FAIR VALUE OF WARRANTS ASSUMPTIONS (Details) - $ / shares				9 Months Ended
	Jun. 28, 2023	Feb. 24, 2023	Aug. 03, 2022	Sep. 30, 2023	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
Expected dividend yield			0%	0%	0%
Expected share price volatility			141.63%	87.92%
Risk free interest rate			3.14%	3.83%	2.85%
Expected life of warrant				5 years
Warrants [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield	0%	0%	0%
Stock price	$ 1.35	$ 1.73
Expected share price volatility	92.06%	77.52%
Risk free interest rate	4.13%	4.28%	3.18%
Expected life of warrant	3 years	2 years

SCHEDULE OF WARRANT ACTIVITY (D

SCHEDULE OF WARRANT ACTIVITY (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares
Share Capital Warrants And Options
Outstanding, beginning of the period | shares	1,098,786
Weighted Average Exercise Price, Outstanding, beginning of the period | $ / shares	$ 1.96
Issued | shares	5,895,448	2,347,569
Weighted Average Exercise Price, issued | $ / shares	$ 1.47	$ 1.16
Exercised | shares		(1,236,408)
Weighted Average Exercise Price, Exercised | $ / shares		$ 0.46
Cancelled\expired | shares	(159,836)	(12,375)
Weighted Average Exercise Price, Cancelled / expired | $ / shares	$ 1.97
Outstanding, end of the period | shares	6,834,398	1,098,786
Weighted Average Exercise Price, Outstanding, end of the period | $ / shares	$ 1.53	$ 1.96

SCHEDULE OF NUMBER AND WEIGHTED

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS (Details) - $ / shares	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Warrants outstanding	6,834,398	1,098,786
Weighted Average remaining contractual life (years)	2 years 3 months
Warrants expiring October 16, 2023 [member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	643,299
Exercise price	$ 1.75
Weighted Average remaining contractual life (years)	0 years
Warrants expiring August 3, 2024 [member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	295,651
Exercise price	$ 2.40
Weighted Average remaining contractual life (years)	14 days
Warrants expiring February 24, 2025 [member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	221,448
Exercise price	$ 1.75
Weighted Average remaining contractual life (years)	18 days
Warrants expiring March 22, 2024 [member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	350,000
Exercise price	$ 1.75
Weighted Average remaining contractual life (years)	7 days
Warrants expiring June 28, 2026 [member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	5,324,000
Exercise price	$ 1.4375
Weighted Average remaining contractual life (years)	2 years 1 month 20 days

SCHEDULE OF NUMBER AND WEIGHT_2

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS (Details) (Parenthetical) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Warrants exercised		1,236,408
Warrants expiring October 16, 2023 [member]
IfrsStatementLineItems [Line Items]
Warrants exercised	100,000
Warrants expired	543,299

SCHEDULE OF OPTION ACTIVITY (De

SCHEDULE OF OPTION ACTIVITY (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares
Share Capital Warrants And Options
Outstanding, beginning of the period | shares	10,407,044	2,995,794
Weighted Average Exercise Price, Outstanding, beginning of the period | $ / shares	$ 1.10	$ 1.33
Number of shares outstanding, Issued | shares	3,833,277	8,827,250
Weighted average exercise price outstanding options, Issued | $ / shares	$ 1.75	$ 1.16
Number of options outstanding, Exercised | shares		(1,416,000)
Weighted average exercise price outstanding options, Exercised | $ / shares		$ 0.46
Outstanding, end of the period | shares	14,240,321	10,407,044
Weighted Average Exercise Price, Outstanding, end of the period | $ / shares	$ 1.28	$ 1.10

SCHEDULE OF FAIR VALUE OF STOCK

SCHEDULE OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS (Details)		9 Months Ended
	Aug. 03, 2022	Sep. 30, 2023	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
Expected dividend yield	0%	0%	0%
Expected volatility rate	141.63%	87.92%
Risk free interest rate	3.14%	3.83%	2.85%
Expected life of options		5 years
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Expected volatility rate			126.68%
Expected life of options			4 years 1 month 28 days
Top of range [member]
IfrsStatementLineItems [Line Items]
Expected volatility rate			129.48%
Expected life of options			4 years 5 months 19 days

SCHEDULE OF NUMBER AND WEIGHT_3

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS (Details)	9 Months Ended
	Sep. 30, 2023 shares $ / shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
IfrsStatementLineItems [Line Items]
Option outstanding	14,240,321	10,407,044	2,995,794
Weighted Average remaining contractual life (years)	2 years 3 months
Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	14,240,321
Options exercisable	10,407,044
Weighted Average remaining contractual life (years)	3 years 3 months
Options Expiring February 24, 2025 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	900,000
Options exercisable	900,000
Fair value of options granted | $ / shares	$ 0.80
Weighted Average remaining contractual life (years)	1 month 2 days
Options Expiring August 19,2025 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	240,000
Options exercisable	240,000
Fair value of options granted | $ / shares	$ 0.45
Weighted Average remaining contractual life (years)	10 days
Options Expiring January 26 ,2026 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	3,689,000
Options exercisable	3,689,000
Fair value of options granted | $ / shares	$ 0.39
Weighted Average remaining contractual life (years)	7 months 6 days
Options Expiring February 25,2026 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	495,000
Options exercisable	495,000
Fair value of options granted | $ / shares	$ 1.60
Weighted Average remaining contractual life (years)	29 days
Options Expiring September 29,2026 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	1,343,850
Options exercisable	1,343,850
Fair value of options granted | $ / shares	$ 0.91
Weighted Average remaining contractual life (years)	3 months 10 days
Options Expiring October 25, 2026 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	998,794
Options exercisable	998,794
Fair value of options granted | $ / shares	$ 2
Weighted Average remaining contractual life (years)	2 months 19 days
Options Expiring January 20, 2027 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	2,740,400
Options exercisable	2,740,400
Fair value of options granted | $ / shares	$ 2.40
Weighted Average remaining contractual life (years)	7 months 20 days
Options Expiring August 8, 2028 [Member] | Post Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Option outstanding	3,833,277
Options exercisable
Fair value of options granted | $ / shares	$ 1.75
Weighted Average remaining contractual life (years)	1 year 3 months 21 days

SCHEDULE OF DEFERRED SHARE UNIT

SCHEDULE OF DEFERRED SHARE UNIT PLAN HAVE BEEN GRANTED (Details)	9 Months Ended
	Sep. 30, 2023 CAD ($) $ / shares shares
IfrsStatementLineItems [Line Items]
Beginning balance, shares | shares	116,521,343
DSUs outstanding, Fair value, Beginning | $	$ 298,000
Ending balance, shares | shares	135,730,527
DSUs outstanding, Fair value, Ending | $	$ 856,524
Deferred share unit plan [member]
IfrsStatementLineItems [Line Items]
Beginning balance, shares | shares	200,000
DSUs outstanding, Market price, Beginning | $ / shares	$ 1.49	[1]
DSUs outstanding, Fair value, Beginning | $	$ 298,000
Number of DSUs granted during the period | shares	407,463	[2]
DSUs granted, market price | $ / shares	$ 1.37	[1],[2]
DSUs granted, fair value | $	$ 558,524	[2]
Ending balance, shares | shares	607,463
DSUs outstanding, Market price, Ending | $ / shares	$ 1.41	[1]
DSUs outstanding, Fair value, Ending | $	$ 856,524
[1]According to the DSU plan, Market Price is the volume weighted average price on the TSXV for the last five trading days immediately preceding the grant date.[2]DSUs were granted on March 31, Jun 30 and September 30, 2023. The market price of $ 1.37

SCHEDULE OF DEFERRED SHARE UN_2

SCHEDULE OF DEFERRED SHARE UNIT PLAN HAVE BEEN GRANTED (Details) (Parenthetical)	9 Months Ended
	Sep. 30, 2023 $ / shares
Deferred share unit plan [member]
IfrsStatementLineItems [Line Items]
DSUs granted, market price	$ 1.37	[1],[2]
[1]According to the DSU plan, Market Price is the volume weighted average price on the TSXV for the last five trading days immediately preceding the grant date.[2]DSUs were granted on March 31, Jun 30 and September 30, 2023. The market price of $ 1.37

SHARE CAPITAL, WARRANTS AND O_3

SHARE CAPITAL, WARRANTS AND OPTIONS (Details Narrative)

1 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Jun. 28, 2023 CAD ($) $ / shares shares

Feb. 24, 2023 CAD ($) $ / shares shares

Aug. 03, 2022 shares $ / shares

Apr. 26, 2022

Mar. 24, 2023 CAD ($)

Apr. 30, 2022 USD ($) $ / shares shares

Apr. 30, 2022 CAD ($)

Sep. 30, 2023 CAD ($) shares

Sep. 30, 2022 CAD ($)

Sep. 30, 2023 CAD ($) shares $ / shares

Sep. 30, 2022 USD ($) shares $ / shares

Sep. 30, 2022 CAD ($) shares $ / shares

Dec. 31, 2022 CAD ($) shares

Dec. 31, 2021 shares

IfrsStatementLineItems [Line Items]

Share consolidation description

5-for-1

Common share issued

135,730,527

135,730,527

116,521,343

Warrants outstanding

6,834,398

6,834,398

1,098,786

Share issue cost | $

$ 1,866,097

$ 1,535,727

Common shares outstanding

135,730,527

135,730,527

116,521,343

Outstanding shares

31,748,399

Share capital of the company immediately post RTO, Shares

113,905,935

Share-based payment | $

$ 5,138,022

7,731,117

Share based compensation | $

$ 7,731,117

Reserves | $

$ 7,731,117

Fair value of warrants to reserve | $

$ 3,730,838

$ 3,730,838

$ 2,321,514

Reverse takeover transaction [member]

IfrsStatementLineItems [Line Items]

Exchange rate

1.054

1.054

1.054

Stock Option Plan [Member]

IfrsStatementLineItems [Line Items]

Options granted for share based payment arrangement

The Company adopted a Stock Option Plan (the “Plan”) providing the authority to grant options to directors, officers, employees and consultants enabling them to acquire up to 27,100,000 common shares of the Company.

Options to purchase shares

3,833,277

2,600,000

2,600,000

Period of options granted

5 years

5 years

5 years

Stock options exercisable price per share | (per share)

$ 1.75

$ 2

$ 2.49

Proceeds from private palcement | $

$ 20,000,000

Share-based payment | $

$ 7,731,117

Deferred share unit plan [member]

IfrsStatementLineItems [Line Items]

Common shares outstanding

607,463

607,463

200,000

Share based compensation | $

$ 558,524

$ 298,000

Premium nickel resources corporation [member]

IfrsStatementLineItems [Line Items]

Common share issued

82,157,536

value per common share | $ / shares

$ 2

Outstanding shares

77,948,368

Options to purchase shares

8,375,000

North American Nickel Inc [member]

IfrsStatementLineItems [Line Items]

Share capital of the company immediately post RTO, Shares

31,748,399

Amalgamation Agreement [member] | North American Nickel Inc [member]

IfrsStatementLineItems [Line Items]

Share consolidation description

5-to-1

5-to-1

Share exchange ratio for RTO

1.054

1.054

Brokered private placement [member]

IfrsStatementLineItems [Line Items]

Common share issued

4,437,184

value per common share | $ / shares

$ 1.75

Gross proceeds | $

$ 7,765,072

Broker warrants [member]

IfrsStatementLineItems [Line Items]

Description for offering shares

In connection with the Offering, the Company: (a) paid to the agents a cash commission of $473,383, equal to 6% of the gross proceeds (other than on certain president’s list purchasers on which a cash commission of 3% was paid); and (b) issued to the agents that number of non-transferable broker warrants of the Company (the “Broker Warrants”) as is equal to 6% of the number of common Shares sold under the Offering (other than on common shares issued to president’s list purchasers on which Broker Warrants equal to 3% were issued).

Warrant exercise price | $ / shares

$ 1.75

Warrants outstanding

221,448

Fair value of warrants liability | $

$ 167,939

Share issuance cost | $

$ 133,164

Financing transactions [member]

IfrsStatementLineItems [Line Items]

Common share issued

14,772,000

value per common share | $ / shares

$ 1.10

Gross proceeds | $

$ 16,249,200

Warrant exercise price | $ / shares

$ 1.4375

Warrants outstanding

5,324,000

Fair value of warrants liability | $

$ 1,898,349

Description of unit offering

Each unit comprises one common share of PNRL and 22.5% of one whole common share purchase warrant

Number of transferable warrants issuable in equity financing

3,324,000

Cash fees | $

$ 812,460

Percentage of gross proceeds of equity portion

5%

Legal fees | $

$ 561,394

Share issue cost | $

$ 240,596

Non-brokered private placement [member]

IfrsStatementLineItems [Line Items]

value per common share | $ / shares

$ 2

Gross proceeds

$ 17,731,238

$ 22,388,599

Non-brokered private placement [member] | Finder One [Member]

IfrsStatementLineItems [Line Items]

Cash commission | $

1,535,727

Non-brokered private placement [member] | Finder Two [Member]

IfrsStatementLineItems [Line Items]

Commision percentage

6%

Series 1 convertible preferred shares [member]

IfrsStatementLineItems [Line Items]

Convertible preferred shares

100,000,000

Ordinary shares [member] | Non-brokered private placement [member]

IfrsStatementLineItems [Line Items]

Common share issued

8,936,167

Ordinary shares [member] | Non-brokered private placement [member] | Finder Two [Member]

IfrsStatementLineItems [Line Items]

Common share issued

70,548

Value of shares issued | $

$ 176,398

Non-brokered private placement [member] | Finder One [Member]

IfrsStatementLineItems [Line Items]

Commision percentage

6%

SCHEDULE OF AMOUNTS DUE TO RELA

SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($)	Sep. 30, 2023	Mar. 03, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Total	$ 256,554	$ 2,067,180	$ 43,235
Directors and Officers Company [Member]
IfrsStatementLineItems [Line Items]
Total	$ 256,554	35,000	$ 43,235
ThreeD Capital Inc. [member]
IfrsStatementLineItems [Line Items]
Total		762,180
North American Nickel Inc [member]
IfrsStatementLineItems [Line Items]
Total		$ 1,270,000

SCHEDULE OF KEY MANAGEMENT COMP

SCHEDULE OF KEY MANAGEMENT COMPENSATION (Details) - CAD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Related Party Transactions
Management fees	$ 2,496,109	$ 1,701,211
Corporate and administration expenses	183,341	40,884
Total	$ 2,679,450	$ 1,742,095

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)			9 Months Ended
	Jun. 28, 2023 $ / shares shares	Apr. 30, 2022 CAD ($) shares	Sep. 30, 2023 CAD ($) shares	Sep. 30, 2022 CAD ($)	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 CAD ($) shares	Dec. 31, 2021 CAD ($) shares
IfrsStatementLineItems [Line Items]
Number of common shares owned			135,730,527		116,521,343	116,521,343
Number of warrants outstanding			6,834,398		1,098,786	1,098,786
Interest paid classified as financing activities | $			$ 390,411
Number of common shares subscribed					1,279,069	1,279,069
Investment					$ 2,427,076	$ 3,064,582	$ 374,123
Number of common shares beneficially owned		326,740
Payment of promissory notes | $		$ 2,018,568	$ 7,637,329
Share issued prior to RTO in connection with Promissory Notes		310,000
ThreeD Capital Inc. [member]
IfrsStatementLineItems [Line Items]
Number of common shares subscribed					1,213,538	1,213,538
Number of common shares beneficially owned			6,644,950		8,662,347	8,662,347
Number of common shares beneficially owned, percentage			5.49%		7.50%	7.50%
Financing transactions [member]
IfrsStatementLineItems [Line Items]
Number of common shares owned	14,772,000
Number of common share owned, percentage	10.90%
Number of warrants outstanding	5,324,000
Warrant term	3 years
Warrant exercise price | $ / shares	$ 1.4375
Shares acquired percentage	14.20%

SCHEDULE OF FOREIGN CURRENCY FI

SCHEDULE OF FOREIGN CURRENCY FINANCIAL ASSETS AND LIABILITIES (Details)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 BWP (P)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 BWP (P)
Risk Management
Financial assets, Short term exposure	$ 2,295,217	P 2,070,323	$ 2,834,303	P 473,980
Financial assets, Long term exposure		46,041,682		32,058,793
Financial liabilities, Short term exposure	(358,713)	(2,285,426)	(1,246,825)	(2,176,110)
Financial liabilities, Long term exposure		(4,681,513)		(1,530,341)
Total exposure, Short term exposure	$ 1,936,504	(215,103)	$ 1,587,478	(1,702,130)
Total exposure, Long term exposure		P 41,360,170		P 30,528,452

SCHEDULE OF CHANGES IN EXCHANGE

SCHEDULE OF CHANGES IN EXCHANGE RATES (Details)	3 Months Ended		9 Months Ended				12 Months Ended
	Sep. 30, 2023 CAD ($)	Sep. 30, 2022 CAD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CAD ($)	Sep. 30, 2023 BWP (P)	Sep. 30, 2022 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 BWP (P)
IfrsStatementLineItems [Line Items]
Profit for the year | $	$ (153,013)	$ (33,343)		$ (256,917)		$ 127,449
Exchange rate strengthened [member]
IfrsStatementLineItems [Line Items]
Profit for the year			$ 96,825	86,070	P (10,755)		$ 79,374	$ (5,732)	P (85,106)
Long-term exposure profit for the year					2,068,008				1,526,423
Exchange rate weakened [member]
IfrsStatementLineItems [Line Items]
Profit for the year			$ (96,825)	$ (86,070)	10,755		$ (79,374)	$ 5,732	85,106
Long-term exposure profit for the year					P (2,068,008)				P (1,526,423)

SCHEDULE OF CONTRACTUAL OBLIGAT

SCHEDULE OF CONTRACTUAL OBLIGATIONS (Details) - CAD ($)	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities	$ 3,148,177
Vehicle financing	165,019
Term loan	12,856,979
Lease liability	1,892,504	$ 2,731,394
Total	18,062,679
Later than six months and not later than one year [member]
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities	3,148,177
Vehicle financing	16,147
Term loan
Lease liability	1,892,504
Total	5,056,828
Later than one year and not later than two years [member]
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities
Vehicle financing	64,590
Term loan
Total	64,590
Later than two years and not later than five years [member]
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities
Vehicle financing	84,282
Term loan	12,856,979
Lease liability
Total	$ 12,941,261

SCHEDULE OF COMPONENTS OF EQUIT

SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH (Details) - CAD ($)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Risk Management
Shareholder’s equity	$ 39,555,251	$ 27,188,344	$ 29,037,631	$ (4,316,964)
Current liabilities	5,040,681	12,462,372
Total liabilities and equity	44,595,932	39,650,716
Cash	(8,853,296)	(5,162,991)	$ (5,756,642)	$ (1,990,203)
Total	$ 35,742,636	$ 34,487,725

SCHEDULE OF GEOGRAPHIC SEGMENTS

SCHEDULE OF GEOGRAPHIC SEGMENTS (Details) - CAD ($)	Sep. 30, 2023	Dec. 31, 2022
IfrsStatementLineItems [Line Items]
Current assets	$ 11,233,710	$ 6,438,346
Property, plant and equipment	5,792,943	3,394,670
Exploration and evaluation assets	44,692,577	31,823,982
Canada [Member]
IfrsStatementLineItems [Line Items]
Current assets	6,122,644	3,198,344
Property, plant and equipment	9,438	10,714
Barbados [Member]
IfrsStatementLineItems [Line Items]
Current assets	340,360	493,552
Botswana country [member]
IfrsStatementLineItems [Line Items]
Current assets	4,770,706	2,746,450
Property, plant and equipment	5,783,505	3,383,956
Exploration and evaluation assets	$ 44,692,577	$ 31,823,982