Premium Resources (PRMLF) 10-Q 14 Nov 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Nov. 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	000-14740
Entity Registrant Name	PREMIUM NICKEL RESOURCES LTD.
Entity Central Index Key	0000795800
Entity Tax Identification Number	00-0000000
Entity Incorporation, State or Country Code	Z4
Entity Address, Address Line One	Suite 3400
Entity Address, Address Line Two	One First Canadian Place, P.O. Box 130
Entity Address, Address Line Three	Toronto
Entity Address, City or Town	Ontario
Entity Address, Country	CA
Entity Address, Postal Zip Code	M5X 1A4
City Area Code	(604)
Local Phone Number	770-4334
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		185,708,588

Condensed Interim Consolidated

Condensed Interim Consolidated Balance Sheets (Unaudited) - CAD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 17,358,377	$ 19,245,628
Prepaid expenses	1,285,587	900,310
Other receivables	826,490	532,835
Spare parts	1,202,055	212,135
TOTAL CURRENT ASSETS	20,672,509	20,890,908
NON-CURRENT ASSETS
Exploration and evaluation assets	8,855,512	8,594,798
Property, plant and equipment	7,764,047	8,488,499
TOTAL NON-CURRENT ASSETS	16,619,559	17,083,297
TOTAL ASSETS	37,292,068	37,974,205
CURRENT LIABILITIES
Trade payables and accrued liabilities	4,904,635	4,280,146
Lease liabilities	675,181	1,611,143
TOTAL CURRENT LIABILITIES	5,579,816	5,891,289
NON-CURRENT LIABILITIES
Vehicle financing	280,470	236,124
Provision for leave and severance	959,537	510,202
Term Loan	18,710,277	17,956,423
DSU liability	1,293,071	884,481
NSR option liability	2,750,000	2,750,000
TOTAL NON-CURRENT LIABILITIES	23,993,355	22,337,230
TOTAL LIABILITIES	29,573,171	28,228,519
SHAREHOLDERS’ EQUITY
Common shares (no par value, unlimited common shares authorized; 185,708,588 issued and outstanding) (December 31, 2023 – 149,300,920)
Preferred shares	31,516	31,516
Additional paid-in capital	144,789,145	116,069,973
Deficit	(135,712,148)	(104,566,816)
Accumulated other comprehensive loss	(1,389,616)	(1,788,987)
TOTAL SHAREHOLDERS’ EQUITY	7,718,897	9,745,686
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 37,292,068	$ 37,974,205

Condensed Interim Consolidate_2

Condensed Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued	185,708,588	149,300,920
Common stock, shares outstanding	185,708,588	149,300,920

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
EXPENSES
General and administrative expenses	$ 2,314,273	$ 1,936,140	$ 6,657,082	$ 6,250,925
Depreciation	354,581	151,500	1,088,483	241,260
General exploration expenses	7,318,600	4,330,412	18,598,362	13,252,757
Interest and bank charges	10,557	17,035	26,831	34,865
Share-based payment	933,619		1,712,843
DSUs granted	317,497	215,764	882,410	564,000
Fair value movement of DSUs	(153,304)	36,355	(473,820)	(5,476)
Net foreign exchange loss	146,359	153,014	360,361	256,917
Operating expenses	11,242,182	6,840,220	28,852,552	20,595,248
OTHER ITEMS
Interest (income) expense	(23,945)	126,623	(24,398)	193,441
Interest expense and accretion on Term Loan	786,723	717,991	2,317,178	728,277
Interest expense on A&R Promissory Note				682,547
NET LOSS FOR THE PERIOD	12,004,960	7,684,834	31,145,332	22,199,513
OTHER COMPREHENSIVE (INCOME) LOSS
Exchange differences on translation of foreign operations	(143,911)	183,703	(399,371)	903,578
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ 11,861,049	$ 7,868,537	$ 30,745,961	$ 23,103,091
Basic loss per share	$ 0.06	$ 0.06	$ 0.19	$ 0.18
Diluted loss per share	$ 0.06	$ 0.06	$ 0.19	$ 0.18
Weighted average number of common shares outstanding - basic	185,708,588	135,730,527	163,300,132	125,150,919
Weighted average number of common shares outstanding - diluted	185,708,588	135,730,527	163,300,132	125,150,919

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - CAD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2022		$ 31,516	$ 77,302,736	$ (72,190,747)	$ (1,200,516)	$ 3,942,989
Balance, shares at Dec. 31, 2022	116,521,343
Net loss for the period				(22,199,513)		(22,199,513)
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)
Exchange differences on translation of foreign operations					(903,578)	(903,578)
Fair value of lender warrants			1,468,231			1,468,231
Balance at Sep. 30, 2023		31,516	100,919,143	(94,390,260)	(2,104,094)	4,456,305
Balance, shares at Sep. 30, 2023	135,730,527
Balance at Dec. 31, 2022		31,516	77,302,736	(72,190,747)	(1,200,516)	3,942,989
Balance, shares at Dec. 31, 2022	116,521,343
Balance at Dec. 31, 2023		31,516	116,069,973	(104,566,816)	(1,788,987)	9,745,686
Balance, shares at Dec. 31, 2023	149,300,920
Balance at Jun. 30, 2023		31,516	101,119,143	(86,705,426)	(1,920,391)	12,524,842
Balance, shares at Jun. 30, 2023	135,730,527
Net loss for the period				(7,684,834)		(7,684,834)
Share issue costs			(200,000)			(200,000)
Exchange differences on translation of foreign operations					(183,703)	(183,703)
Balance at Sep. 30, 2023		31,516	100,919,143	(94,390,260)	(2,104,094)	4,456,305
Balance, shares at Sep. 30, 2023	135,730,527
Balance at Dec. 31, 2023		31,516	116,069,973	(104,566,816)	(1,788,987)	9,745,686
Balance, shares at Dec. 31, 2023	149,300,920
Net loss for the period				(31,145,332)		(31,145,332)
Share capital issued through private placement			28,239,254			28,239,254
Share capital issued through private placement, shares	36,281,409
Share issue costs			(1,232,925)			(1,232,925)
Exercise of options, net
Exercise of options, net, shares	126,259					278,100
Share-based payment			1,712,843			$ 1,712,843
Exchange differences on translation of foreign operations					399,371	399,371
Balance at Sep. 30, 2024		31,516	144,789,145	(135,712,148)	(1,389,616)	7,718,897
Balance, shares at Sep. 30, 2024	185,708,588
Balance at Jun. 30, 2024		31,516	143,874,771	(123,707,188)	(1,533,527)	18,665,572
Balance, shares at Jun. 30, 2024	185,708,588
Net loss for the period				(12,004,960)		(12,004,960)
Share issue costs			(19,245)			(19,245)
Exchange differences on translation of foreign operations					143,911	143,911
Share-based payment			933,619			933,619
Balance at Sep. 30, 2024		$ 31,516	$ 144,789,145	$ (135,712,148)	$ (1,389,616)	$ 7,718,897
Balance, shares at Sep. 30, 2024	185,708,588

Condensed Interim Consolidate_5

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
OPERATING ACTIVITIES
Net loss for the period	$ (12,004,960)	$ (7,684,834)	$ (31,145,332)	$ (22,199,513)
Interest payment on Term Loan			(1,563,324)	(390,411)
Interest payment on A&R Promissory Note				(412,329)
Items not affecting cash:
DSUs granted	317,497	215,764	882,410	564,000
Fair value movement of DSUs	(153,304)	36,355	(473,820)	(5,476)
Depreciation	354,581	151,500	1,088,483	241,260	$ 744,783
Provision for leave and severance			449,335	257,104
Accrued interest and accretion on loans			2,237,268	337,866
Share-based payment	933,619		1,712,843
Accrued interest on lease liability			107,238	233,327
Changes in non-cash working capital and non-current liability
Prepaid expenses and other receivables			(678,932)	(1,208,558)
Trade payables and accrued expenses			624,489	(1,499,776)
Spare parts			(989,920)	(212,135)
Net cash used in operating activities			(27,749,262)	(24,294,641)
INVESTING ACTIVITIES
Acquisition of property, plant and equipment			(25,835)	(2,852,916)
Additions to expenditures on exploration and evaluation assets				(483,883)
Interest received			91,703	39,622
Net cash from (used in) investing activities			65,868	(3,297,177)
FINANCING ACTIVITIES
Proceeds from issuance of units			27,499,999	23,814,272
Share issue costs			(295,578)	(1,818,956)
Loan proceeds, net of fees				14,625,000
NSR option				2,750,000
A&R Promissory Note repayment				(7,000,000)
Vehicle financing payment, net			44,345	375
Lease payment			(1,112,496)	(946,427)
Net cash provided by financing activities			26,136,270	31,424,264
Effect of exchange rate changes on cash and cash equivalents			(340,127)	(142,141)
Change in cash and cash equivalents for the period			(1,887,251)	3,690,305
Cash and cash equivalents at the beginning of the period			19,245,628	5,162,991	5,162,991
Cash and cash equivalents at the end of the period	$ 17,358,377	$ 8,853,296	17,358,377	8,853,296	$ 19,245,628
Supplemental cash flow information
Income taxes paid
Interest paid			$ 1,682,379	$ 809,238

Pay vs Performance Disclosure

Pay vs Performance Disclosure - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (12,004,960)	$ (7,684,834)	$ (31,145,332)	$ (22,199,513)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Insider Trading Arrangements [Line Items]
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
[custom:NonRule10B51ArrModifiedFlag]	false

NATURE OF OPERATIONS AND GOING

NATURE OF OPERATIONS AND GOING CONCERN	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS AND GOING CONCERN	1. NATURE OF OPERATIONS AND GOING CONCERN Premium Nickel Resources Ltd. (the “ Company PNRL RTO PNRC NAN Business Corporations Act OBCA Common Shares 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 exploration and evaluation 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 Mine (as defined below). (2) Premium Nickel Resources Proprietary Limited owns the Selebi Mines (as defined below). Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The Company’s head and registered office is located 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 Ni-Cu-Co-PGE Selkirk Mine” and together with the Selebi Mines, the “Mines Going Concern The Company, being in the exploration 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 and advancement of the Company’s material projects, 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, 2024, the Company had no source of operating cash flows, nor any credit line currently in place. The Company incurred a net loss of $ 31,145,332 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 operations. These material uncertainties cast substantial doubt about the Company’s ability to continue as a going concern. These 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.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (a) Statement of Compliance These unaudited condensed interim consolidated financial statements were prepared in accordance with US GAAP for interim financial information and in accordance with the instructions in Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission (“ SEC Certain information or footnote disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed interim consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2023. The interim period results do not necessary indicate the results that may be expected for any other interim period or for the full fiscal year. (b) Basis of preparation These unaudited condensed interim consolidated financial statements have been prepared on a going concern basis under the historical cost convention, modified by the revaluation of any financial assets and financial liabilities where applicable. The preparation of consolidated financial statements in conformity with US GAAP 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, 2023. Operating segments are reported in a manner consistent with the internal reporting used for the audited annual consolidated financial statements. The Company determined that it has one three The Company’s presentation currency is Canadian (“ CA (c) Basis of consolidation These unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries as summarized in the table below. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS Name of Entity Place of Incorporation Percentage Ownership Functional Currency Premium Nickel Resources Ltd. Ontario, Canada CAD NAN Exploration Inc. Ontario, Canada 100 CAD PNR Amalco Ltd. Ontario, Canada 100 CAD Premium Nickel Resources International Ltd. Barbados 100 USD PNR Selkirk Group (Barbados) Limited Barbados 100 USD PNR Selebi (Barbados) Limited Barbados 100 USD Premium Nickel Group Proprietary Limited Botswana 100 BWP Premium Nickel Resources Proprietary Limited Botswana 100 BWP (d) Use of estimates and judgment The preparation of the unaudited condensed interim consolidated financial statements in accordance with US GAAP requires management to make judgements, estimates and assumptions that affect the implementation of the accounting policies and the recorded amount of assets and liabilities, income, expenses, and disclosure of contingent liabilities. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) Judgement Information about judgements made in applying accounting policies that have the most significant effect on the amounts recognized in these consolidated financial statements is the same as disclosed in Note 3 of the consolidated financial statements for the year ended December 31, 2023. Estimates Information about assumptions and estimates uncertainties as at September 30, 2024, that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities in the next financial year is the same as disclosed in Note 3 of the consolidated financial statement for the year ended December 31, 2023.

OTHER RECEIVABLES

OTHER RECEIVABLES	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
OTHER RECEIVABLES	3. OTHER RECEIVABLES A summary of the Company’s other receivables is detailed in the table below: SCHEDULE OF OTHER RECEIVABLES September 30, 2024 $ December 31, 2023 $ HST paid on purchases 337,715 301,618 VAT paid on purchases 488,775 223,776 Other receivables - 7,441 Other receivables, net 826,490 532,835

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	9 Months Ended
	Sep. 30, 2024
Extractive Industries [Abstract]
EXPLORATION AND EVALUATION ASSETS	4. EXPLORATION AND EVALUATION ASSETS SCHEDULE OF EXPLORATION AND EVALUATION ASSETS Botswana Selebi $ Selkirk $ Total $ Balance, December 31, 2022 8,251,518 327,109 8,578,627 Additions 483,883 - 483,883 Foreign currency translation (449,878 ) (17,834 ) (467,712 ) Balance, December 31, 2023 8,285,523 309,275 8,594,798 Foreign currency translation 251,333 9,381 260,714 Balance, September 30, 2024 8,536,856 318,656 8,855,512 The following is a description of the Company’s exploration and evaluation assets and the related spending commitments. Botswana Assets - Selebi and Selkirk In September 2021, the Company executed the Selebi Asset Purchase Agreement (“the “ Selebi APA Pursuant to the Selebi APA, the aggregate purchase price payable to the seller for the Selebi Mines shall be the sum of $ 76,862,200 56,750,000 three ● $ 2,086,830 1,750,000 6,164,688 5,178,747 ● $ 33,747,500 25,000,000 MMRGTES ● $ 40,497,000 30,000,000 four years Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The total acquisition cost of the Selebi Mines included the first instalment of $ 2,086,830 1,750,000 6,164,688 5,178,747 In addition to the Selebi APA, the purchase of the Selebi Mines is also subject to a contingent consideration agreement as well as a royalty agreement with the liquidator. The Company 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 33,747,500 25,000,000 40,497,000 30,000,000 In August 2023, the Company entered into a binding commitment letter with the liquidator of BCL, which is subject to customary final documentation, to acquire a 100 Phikwe South Southeast Extension The upfront cost to the Company to acquire these additional mineral properties is $ 1,349,900 1,000,000 In addition, the Company agreed to additional work commitments of $6,749,500 (USD 5,000,000) in the aggregate over the next four years. As a result of the extension of the Selebi mining license, the remaining asset purchase obligations of the Company outlined in the original Selebi APA with the liquidator will each increase by 10%, or $7,424,450 (USD 5,500,000) in total, while the trigger events remain unchanged. The existing 2% net smelter royalty (“ NSR Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) General Exploration Expenses Details of the general exploration expenses by nature are presented as follows: SCHEDULE OF GENERAL EXPLORATION EXPENSES For the nine months ended September 30, 2024: Selebi $ Selkirk $ Other $ Total $ Site operations and administration 706,303 38,761 128,600 873,664 Care and maintenance 2,218,200 - - 2,218,200 Geology 2,391,154 335,756 - 2,726,910 Drilling 5,209,401 163,232 - 5,372,633 Geophysics 868,261 31,537 - 899,798 Engineering 6,105,977 30,978 - 6,136,955 Environmental, social and governance 125,096 - - 125,096 Metallurgy and processing 40,709 26,855 - 67,564 Technical studies 8,322 4,600 - 12,922 Health and safety 119,756 44 - 119,800 Mine re-development 19,195 25,625 - 44,820 Total 17,812,374 657,388 128,600 18,598,362 For the nine months ended September 30, 2023: Selebi $ Selkirk $ Other $ Total $ Site operations and administration 468,322 41,752 139,782 649,856 Care and maintenance 2,289,013 - - 2,289,013 Geology 2,392,480 321,270 - 2,713,750 Drilling 1,301,463 6,683 - 1,308,146 Geophysics 1,460,507 17,792 - 1,478,299 Engineering 3,860,973 33,284 - 3,894,257 Environmental, social and governance 187,221 - - 187,221 Metallurgy and processing 58,632 103,050 - 161,682 Technical studies 21,072 7,650 - 28,722 Health and safety 319,203 - - 319,203 Water treatment project 46,102 - - 46,102 Mine re-development 176,506 - - 176,506 Total 12,581,494 531,481 139,782 13,252,757 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	5. PROPERTY, PLANT AND EQUIPMENT The tables below set out costs and accumulated depreciation and amortization as at September 30, 2024 and December 31, 2023: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Cost Land and Buildings (ROU Assets (1) $ Exploration Equipment (ROU Assets (1) $ Exploration Equipment $ Furniture and Fixtures $ Generator $ Vehicles $ Computer and software $ Total $ Balance – December 31, 2022 3,077,420 - 11,973 126,605 31,381 241,884 1,950 3,491,213 Additions - 1,023,615 4,190,484 65,998 8,557 187,310 585,561 6,061,525 Foreign currency translation (167,783 ) - - (704 ) (1,711 ) (31,162 ) (20,104 ) (221,464 ) Balance – December 31, 2023 2,909,637 1,023,615 4,202,457 191,899 38,227 398,032 567,407 9,331,274 Balance , Cost 2,909,637 1,023,615 4,202,457 191,899 38,227 398,032 567,407 9,331,274 Additions - - 4,181 15,111 - 111,629 6,543 137,464 Additions, Cost - - 4,181 15,111 - 111,629 6,543 137,464 Foreign currency translation 88,261 - 123,337 3,609 1,160 12,074 35,916 264,357 Foreign currency translation, Cost 88,261 - 123,337 3,609 1,160 12,074 35,916 264,357 Balance – September 30, 2024 2,997,898 1,023,615 4,329,975 210,619 39,387 521,735 609,866 9,733,095 Balance , Cost 2,997,898 1,023,615 4,329,975 210,619 39,387 521,735 609,866 9,733,095 Accumulated Depreciation Land and Building (ROU 1 Exploration Equipment (ROU 1 Exploration Equipment Furniture and Fixtures Generator Vehicles Computer and software Total Balance – December 31, 2022 51,123 - 1,447 1,872 562 39,589 1,950 96,543 Depreciation during the year 119,133 85,301 306,112 14,030 6,212 69,997 143,998 744,783 Foreign currency translation - - - 3,177 1,775 (3,503 ) - 1,449 Balance – December 31, 2023 170,256 85,301 307,559 19,079 8,549 106,083 145,948 842,775 Balance Accumulated Depreciation 170,256 85,301 307,559 19,079 8,549 106,083 145,948 842,775 Depreciation during the period 81,979 155,318 635,096 10,661 5,801 80,025 119,603 1,088,483 Depreciation Accumulated Depreciation 81,979 155,318 635,096 10,661 5,801 80,025 119,603 1,088,483 Foreign currency translation (1,776 ) 953 3,811 776 364 4,739 28,923 37,790 Foreign currency translation Accumulated Depreciation (1,776 ) 953 3,811 776 364 4,739 28,923 37,790 Balance – September 30, 2024 250,459 241,572 946,466 30,516 14,714 190,847 294,474 1,969,048 Balance Accumulated Depreciation 250,459 241,572 946,466 30,516 14,714 190,847 294,474 1,969,048 Carrying Value Land and Buildings (ROU 1 Exploration Equipment (ROU 1 Exploration Equipment Furniture and Fixtures Generator Vehicles Computer and Software Total Balance – December 31, 2023 2,739,381 938,314 3,894,898 172,820 29,678 291,949 421,459 8,488,499 Balance, Carrying 2,739,381 938,314 3,894,898 172,820 29,678 291,949 421,459 8,488,499 Balance – September 30, 2024 2,747,439 782,043 3,383,509 180,103 24,673 330,888 315,392 7,764,047 Balance, Carrying Value 2,747,439 782,043 3,383,509 180,103 24,673 330,888 315,392 7,764,047 Note: (1) Land and Buildings (ROU Assets) contains the Syringa Lodge right-of-use (“ ROU Additions to property, plant and equipment during the year ended December 31, 2023 included the acquisition of drilling equipment for $ 1,023,615 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars)

TRADE PAYABLES AND ACCRUED LIAB

TRADE PAYABLES AND ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
TRADE PAYABLES AND ACCRUED LIABILITIES	6. TRADE PAYABLES AND ACCRUED LIABILITIES A summary of trade payables and accrued liabilities is detailed in the table below: SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2024 $ December 31, 2023 $ Amounts due to related parties (Note 12) 24,667 93,795 Trade payables 3,595,882 2,383,196 Accrued liabilities 1,284,086 1,803,155 Total trade payables and accrued liabilities 4,904,635 4,280,146

TERM LOAN

TERM LOAN	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
TERM LOAN	7. TERM LOAN On June 28, 2023, the Company closed a financing with Cymbria Corporation (“ Cymbria EdgePoint 33,999,200 three 2023 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. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) In connection with the Term Loan, the Company issued an aggregate of 2,000,000 Non-Transferable Warrants 1.4375 Further, on December 14, 2023, the Company and Cymbria closed an amendment to the terms of their existing Term Loan, increasing the principal amount of the Term Loan by $ 5,882,353 Additional Principal Amount 15,000,000 20,882,353 15 5,000,000 700,000 Additional Warrants 1.4375 The Company evaluated the amendment of the Term Loan and determined that it qualified as a non-substantial modification under ASC 470. Therefore, a new effective interest rate was determined based on the carrying amount of the original debt instrument, adjusted for the fair value of the Additional Warrants resulting from the modification, and the revised cash flows. The fair value of the Non-Transferable Warrants and Additional Warrants was estimated at $ 1,435,350 275,961 1,352,054 83,296 1,352,054 275,961 The fair value of the Non-Transferable Warrants and Additional Warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE AND ADDITIONAL WARRANTS Non-Transferable Warrants Additional Warrants Expected dividend yield 0 % 0 % Share price $ 1.35 $ 1.14 Expected share price volatility 92.06 % 63.54 % Risk free interest rate 4.13 % 3.73 % Expected life of warrant 3 2.54 The volatility was determined by calculating the historical volatility of stock prices of the Company over the same period as the expected life of the Transferable Warrants using daily closing prices. The formula used to compute historical volatility is the standard deviation of the logarithmic returns. The Company used $ 7,637,329 For the nine months ended September 30, 2024, the Company paid $ 1,563,324 390,411 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The following is a continuity of the Term Loan: SCHEDULE OF CONTINUITY OF TERM LOAN $ Principal amount of the Term Loan 15,000,000 Fair value of the Non-Transferrable Warrants (1,435,350 ) Term Loan at fair value on issuance, June 28, 2023 13,564,650 Transaction costs (787,175 ) Accrued interest 390,411 Accretion of warrant value and transaction costs 631,540 Interest paid (390,411 ) Fair value of Term Loan as of December 14, 2023 13,409,015 Additional principal amount of Term Loan on December 14, 2023 5,882,353 Term Loan issue discount (882,353 ) Fair value of the Additional Warrants (275,961 ) Transaction fee for modification (219,212 ) Fair value of modified Term Loan as of December 14, 2023 17,913,842 Accrued interest 402,981 Accretion of warrant value and transaction costs 42,581 Interest paid (402,981 ) Term Loan balance, December 31, 2023 17,956,423 Accrued interest 1,563,324 Accretion of warrant value and transaction costs 753,854 Interest paid (1,563,324 ) Term Loan balance, September 30, 2024 18,710,277 Fort Capital Partners acted as financial advisor to the Company on the debt portion of the 2023 Financing Transactions and was paid cash fees of $ 375,000 147,059 2.5 736,067 495,471 72,153

PROMISSORY NOTE

PROMISSORY NOTE	9 Months Ended
	Sep. 30, 2024
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 On March 17, 2023, the Company entered into an amended and restated Promissory Note (the “ A&R Promissory Note Extension 225,000 350,000 Lender Warrants 1.75 119,229 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) In connection with the A&R Promissory Note, interest and accretion expense of nil 682,547 The fair value of the liability of the Lender Warrants was estimated at $ 116,177 225,000 The fair value of the Lender warrants was calculated using the following assumptions: SCHEDULE OF LENDER WARRANTS March 17, 2023 Expected dividend yield 0 % Share price $ 1.40 Expected share price volatility 77.2 % Risk free interest rate 3.49 % Expected life of warrant 1 The volatility was determined by calculating the historical volatility of share prices of the Company over one year using daily closing prices. The formula used to compute historical volatility is the standard deviation of the logarithmic returns. On June 28, 2023, the Company repaid the A&R Promissory Note in full, and on March 17, 2024, the Lender Warrants expired unexercised.

LEASE LIABILITIES

LEASE LIABILITIES	9 Months Ended
	Sep. 30, 2024
Lease Liabilities
LEASE LIABILITIES	9. LEASE LIABILITIES Syringa Lodge In July 2022, the Company executed a sales agreement (the “ Lodge Agreement Seller Pursuant to 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 1,306,906 13,056,000 50 653,061 6,528,000 665,203 6,528,000 In addition to the above purchase price, the Company is required to pay to the Seller an agreed interest amount of 6 Drilling Equipment In March 2023, the Company entered into a drilling equipment supply agreement (the “ Equipment Agreement Forage Pursuant to 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, 2024 and 2023 (Expressed in Canadian dollars) The following table presents lease cost and other supplemental lease information: SCHEDULE OF LEASE COST AND OTHER SUPPLEMENTAL LEASE September 30, 2024 $ September 30, 2023 $ Finance lease cost: Amortization of right-of-use assets 237,297 126,380 Interest expense on lease liabilities 107,238 233,327 Cash paid for finance lease liabilities 1,043,200 3,602,167

NSR OPTION

NSR OPTION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NSR OPTION	10. NSR OPTION 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 As the NSR options are exercisable entirely at the discretion of Cymbria and the underlying projects are in the exploration stage, the fair value of the call and put on the option as at September 30, 2024 and December 31, 2023 is nil PNRL’s indirect wholly-owned subsidiary Premium Nickel Resources Proprietary Limited (“ PNRP 2 Selebi NSR 26,998,000 20,000,000 PNRL’s indirect wholly-owned subsidiary Premium Nickel Group Proprietary Limited (“ PNGP 1 Selkirk NSR NSRs 2,699,800 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 10,937,565 8,102,500 1,093,756 810,250

SHARE CAPITAL, WARRANTS AND OPT

SHARE CAPITAL, WARRANTS AND OPTIONS	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
SHARE CAPITAL, WARRANTS AND OPTIONS	11. SHARE CAPITAL, WARRANTS AND OPTIONS The authorized capital of the Company comprises an unlimited 100,000,000 a) Common Shares Issued and Outstanding During the nine months ended September 30, 2024, 126,259 278,100 36,281,409 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) On June 14, 2024, the Company closed the first tranche of a non-brokered private placement offering (the “ June 2024 Financing 19,234,614 Units 0.78 “Issue Price” 15,002,999 Warrant On June 21, 2024, the Company closed the second tranche of the June 2024 Financing and issued an additional 16,021,795 12,497,000 Each Warrant entitles the holder thereof to acquire one Common Share for a period expiring 60 months following the date of issuance (the “ Expiry Date 1.10 2.00 20 30 All securities issued under the June 2024 Financing are subject to a hold period of four months plus one day from the date of issuance. In connection with the June 2024 Financing, SCP Resource Finance LP ( SCP 1,025,000 1,025,000 1,025,000 250,000 The fair value of the Warrants issued under the June 2024 Financing, calculated using the Monte Carlo model, was estimated at $ 12,533,135 27,499,999 250,000 1,087,755 1,025,000 SCHEDULE OF FAIR VALUE OF WARRANTS June 14, 2024 June 21, 2024 Expected dividend yield 0 % 0 % Share price $ 0.81 $ 0.84 Expected share price volatility 83.17 % 83.71 % Risk free interest rate 3.23 % 3.30 % Expected life of warrant 5 5 The volatility was determined by calculating the historical volatility of stock prices of the Company over a 5-year period using daily closing prices. The formula used to compute historical volatility is the standard deviation of the logarithmic returns. During the year ended December 31, 2023, the Company completed the following financing transactions: On February 24, 2023, the Company issued 4,437,184 1.75 7,765,072 February 2023 Financing 473,383 221,448 Broker Warrants one 1.75 167,939 133,164 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) On June 28, 2023, the Company issued 14,772,000 1.10 16,249,200 one 22.5 one Transferable Warrant Transferable Warrants 3,324,000 1.4375 three years 1,898,349 Fort Capital Partners acted as financial advisor to the Company on the equity portion of the 2023 Financing Transactions and was paid cash fees of $ 812,460 736,067 240,596 The fair value of the Transferable Warrants in connection with the February 2023 Financing and the 2023 Financing Transactions were calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS February 24, 2023 June 28, 2023 Expected dividend yield 0 % 0 % Share 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 The volatility was determined by calculating the historical volatility of stock prices of the Company over a period as the expected life of the Transferable Warrants using daily closing prices. The formula used to compute historical volatility is the standard deviation of the logarithmic returns. On December 14, 2023, the company closed an equity and debt financing package of $ 21,642,393 Private Placement Agents 13,133,367 1.20 15,760,040 796,983 Participation Right 1,265,800 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) b) Warrants The following summarizes common share purchase warrant activity: SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY Nine months ended September 30, 2024 Year ended December 31, 2023 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the year 6,891,099 1.50 1,098,786 1.96 Issued 36,281,409 1.10 6,595,448 1.46 Exercised - - (100,000 ) (1.75 ) Expired (645,651 ) (2.05 ) (703,135 ) (1.80 ) Outstanding, end of the period 42,526,857 1.15 6,891,099 1.50 At September 30, 2024, the Company had outstanding common share purchase warrants exercisable to acquire Common Shares as follows: SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING Warrants Outstanding Expiry Date Exercise Price ($) 221,448 February 24, 2025 1.75 5,324,000 June 28, 2026 1.44 700,000 June 28, 2026 1.44 20,259,614 June 14, 2029 1.10 16,021,795 June 21, 2029 1.10 42,526,857 c) Stock Options The Company has a stock option plan (the “ Plan 27,100,000 ten years The following summarizes the option activity under the Plan: SCHEDULE OF OPTION ACTIVITY Nine months ended September 30, 2024 Year ended December 31, 2023 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the year 13,487,921 1.39 10,407,044 1.10 Issued 3,110,000 1.10 3,833,277 1.75 Exercised (278,100 ) (0.86 ) (488,900 ) (0.49 ) Cancelled (150,000 ) (1.75 ) (263,500 ) (2.40 ) Outstanding, end of the period 16,169,821 1.34 13,487,921 1.39 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) During the nine months ended September 30, 2024, the Company granted an aggregate of 3,110,000 five years 1.10 During the year ended December 31, 2023, the Company granted an aggregate of 3,833,277 five years 1.75 For the three and nine months ended September 30, 2024, a total of $ 933,619 Nil 1,712,843 Nil The fair value of stock options granted was determined using the following assumptions: SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED Nine months ended September 30, 2024 Year ended December 31, 2023 Expected dividend yield 0 % 0 % Expected forfeiture rate 0 % 0 % Expected share price volatility 117.60 % 87.92 % Risk free interest rate 2.91 3.23 4.28 4.68 Expected life of options 2.5 3.5 3 4 Details of options outstanding as at September 30, 2024 are as follows: SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING Options Outstanding Options Exercisable Expiry Date Exercise Price ($) 660,000 660,000 February 24, 2025 0.80 240,000 240,000 August 19, 2025 0.45 3,320,100 3,320,000 January 26, 2026 0.39 495,000 495,000 February 25, 2026 1.60 1,185,750 1,185,750 September 29, 2026 0.91 998,794 998,794 October 25, 2026 2.00 2,476,900 2,476,900 January 20, 2027 2.40 3,683,277 1,227,759 August 8, 2028 1.75 3,110,000 1,036,666 August 14, 2029 1.10 16,169,821 11,640,869 d) DSU Plan The Company has a deferred share unit plan (the “ DSU Plan th Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The following is a continuity of the DSUs: SCHEDULE OF DSU GRANTED Number Outstanding Market Price (1) ($) Fair Value ($) DSUs outstanding at December 31, 2022 200,000 1.49 298,000 Granted 600,951 1.33 798,122 Redeemed (69,976 ) 1.19 (83,527 ) Fair value adjustment - (128,114 ) DSUs outstanding at December 31, 2023 730,975 1.21 884,481 Granted 1,116,269 0.79 882,410 Fair value adjustment - (473,820 ) DSUs outstanding at September 30, 2024 1,847,244 0.70 1,293,071 Note: (1) Under 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 or redemption date. During the three and nine months ended September 30, 2024, the DSU compensation, net of fair value adjustments, was $ 164,193 252,119 408,590 558,524 The DSUs are classified as a derivative financial liability measured at fair value, with changes in fair value recorded in profit or loss. The fair value of the DSUs was determined by the volume weighted average price on the TSXV for the last five trading days of each reporting period. As at September 30, 2024, the Company reassessed the fair value of the DSUs at $ 1,293,071 884,481

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	12. RELATED PARTY TRANSACTIONS The following amounts due to related parties are included in trade payables and accrued liabilities (Note 6). SCHEDULE OF RELATED PARTY TRANSACTIONS September 30, 2024 $ December 31, 2023 $ Directors and officers of the Company 24,667 93,795 Other liabilities, current 24,667 93,795 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. (a) Related party transactions As a result of the 2023 Financing Transactions on June 28, 2023 and December 14, 2023, Cymbria and certain other funds managed by EdgePoint (the “ Financing Parties 16,037,800 10.7 6,024,000 1.4375 14.2 For the three and nine months ended September 30, 2024, the Company paid interest of $ 524,912 390,411 1,563,324 390,411 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) In connection with the June 2024 Financing, EdgePoint subscribed for 7,692,307 0.78 6.0 23,833,224 13,716,307 12.8 18.8 20.0 In connection with the June 2024 Financing, certain insiders of the Company subscribed for an aggregate of 1,389,140 1,083,529 (b) Key management personnel is defined as members of the Board of Directors and senior officers. Key management compensation was related to the following: Nine months ended September 30, 2024 $ 2023 $ Management fees, salaries and benefits 2,596,401 2,679,450 DSUs granted, net of fair value movements 408,590 558,524 Share-based payment 1,014,619 - Key management compensation 4,019,610 3,237,974

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2024
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	13. FINANCIAL INSTRUMENTS The Company 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 cash equivalents, trade payables and accrued liabilities approximate their fair value due to their short-term nature. Such fair value estimates are not necessarily indicative of the amounts the Company might pay or receive in actual market transactions. The fair value of the DSUs is measured using 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, 2024 and December 31, 2023, the fair value of cash and cash equivalents and DSUs is based on Level 1 measurements.

RISK MANAGEMENT

RISK MANAGEMENT	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
RISK MANAGEMENT	14. 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. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) Foreign Currency Exchange Rate Risk Currency risk is the 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 the United States dollar and Botswana Pula, and consequently is exposed to exchange rate risks. Exchange rate 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 amounts shown are those reported and translated into CAD at the closing rate. SCHEDULE OF RISK MANAGEMENT Short-term exposure Long-term exposure USD $ BWP $ BWP $ September 30, 2024 Financial assets 1,746,290 1,495,375 70,525,700 Financial liabilities (1,637,329 ) (2,190,746 ) (1,240,006 ) Total exposure 108,961 (695,371 ) 69,285,694 Short-term exposure Long-term exposure USD $ BWP $ BWP $ December 31, 2023 Financial assets 2,576,180 755,386 54,082,922 Financial liabilities (501,458 ) (4,851,201 ) (3,508,714 ) Total exposure 2,074,722 (4,095,815 ) 50,574,208 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, 2024 and the year ended December 31, 2023, respectively. If the CAD strengthened against the USD and BWP by 5 SENSITIVITY ANALYSIS FOR EFFECT OF FOREIGN CURRENCY CHANGES Short-term exposure Long-term exposure USD $ BWP $ Total $ BWP $ September 30, 2024 5,448 (34,769 ) (29,321 ) 3,464,285 December 31, 2023 103,736 (204,791 ) (101,055 ) 2,528,710 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) If the CAD weakened against the USD and BWP by 5 Short-term exposure Long-term exposure USD $ BWP $ Total $ BWP $ September 30, 2024 (5,448 ) 34,769 29,321 (3,464,285 ) December 31, 2023 (103,736 ) 204,791 101,055 (2,528,710 ) 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 Company’s credit risk is primarily associated with liquid financial assets. The Company limits exposure to credit risk on liquid financial assets by holding cash and cash equivalents 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 against its annual budget, which forecasts 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, 2024: SCHEDULE OF CONTRACTUAL OBLIGATIONS Less than 1 year $ 1 - 2 years $ 2 - 5 years $ Total $ Trade payables and accrued liabilities 4,904,635 - - 4,904,635 Vehicle financing 34,232 136,929 109,309 280,470 Term Loan 2,088,235 22,448,529 - 24,536,764 Lease liabilities 675,181 - - 675,181 7,702,283 22,585,458 109,309 30,397,050 DSUs liability and provision for leave and severance are not presented in the above liquidity analysis as management considers it is not practical to allocate the amounts into maturity groupings. 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 attempt to issue new shares, restructure or issue new debt. Although the Company has been successful in its past equity capital raises and debt funding, there is no assurance that the Company will be able to continue successfully raising equity capital or debt funding in the same manner in the future. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The Company is not subject to any externally imposed capital requirements by a regulator or a lending institution. In the management of capital, the Company includes the components of equity and debt (vehicle financing, lease liabilities and the Term Loan), net of cash. SCHEDULE OF CAPITAL RISK MANAGEMENT September 30, 2024 $ December 31, 2023 $ Shareholder’s equity 7,718,897 9,745,686 Vehicle financing 280,470 236,124 Lease liabilities 675,181 1,611,143 Term Loan 18,710,277 17,956,423 Capital Gross Amount 27,384,825 29,549,376 Cash and cash equivalents (17,358,377 ) (19,245,628 ) Capital Net of Cash 10,026,448 10,303,748

SEGMENTED INFORMATION

SEGMENTED INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENTED INFORMATION	15. SEGMENTED INFORMATION The Company operates in one three SCHEDULE OF INFORMATION ABOUT COMPANY'S GEOGRAPHIC SEGMENTS September 30, 2024 $ December 31, 2023 $ Current assets Canada 16,175,522 15,894,177 Barbados 338,247 104,024 Botswana 4,158,740 4,892,707 Total 20,672,509 20,890,908 Current assets 20,672,509 20,890,908 September 30, 2024 $ December 31, 2023 $ Property, plant and equipment Canada 7,481 8,726 Botswana 7,756,566 8,479,773 Total 7,764,047 8,488,499 Property, plant and equipment 7,764,047 8,488,499 September 30, 2024 $ December 31, 2023 $ Exploration and evaluation assets Botswana 8,855,512 8,594,798 Exploration and evaluation assets 8,855,512 8,594,798 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars)

CONTINGENT LIABILITIES

CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES	16. CONTINGENT LIABILITIES There are no environmental liabilities associated with the Mines as at the acquisition dates as all liabilities incurred 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, 2024, 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 the Company’s exploration and development of its projects or future changes in such laws and environmental regulations.

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES	9 Months Ended
	Sep. 30, 2024
General And Administrative Expenses
GENERAL AND ADMINISTRATIVE EXPENSES	17. GENERAL AND ADMINISTRATIVE EXPENSES Details of the general and administrative expenses are presented in the following table: GENERAL AND ADMINISTRATIVE EXPENSES Three months ended Nine months ended September 30, 2024 $ September 30, 2023 $ September 30, 2024 $ September 30, 2023 $ Advisory and consultancy 74,005 119,072 251,991 705,956 Filing fees 189,783 25,378 460,485 256,929 General office expenses 508,035 413,145 1,232,215 969,768 Insurance 157,781 170,778 486,456 551,791 Investor relations 185,027 137,392 472,244 422,754 Management fee 670,389 865,446 2,239,889 2,496,109 Professional fees 347,303 21,539 962,827 664,228 Salaries and benefits 181,950 183,390 550,975 183,390 Total 2,314,273 1,936,140 6,657,082 6,250,925 For the nine months ended September 30, 2024, $ 2,708,304 2,694,115

SPARE PARTS

SPARE PARTS	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
SPARE PARTS	18. SPARE PARTS Details of the movements in relation to spare parts are presented in the following table: SCHEDULE OF THE MOVEMENTS IN RELATION TO SPARE PARTS Spare Parts $ As at December 31, 2022 - Additions 212,135 Utilization - As at December 31, 2023 212,135 Additions 1,110,663 Utilization (120,342 ) Foreign currency translation (401 ) As at September 30, 2024 1,202,055 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) Spare parts relate to spares for drilling equipment and underground equipment located at the Mines which are critical for the continued operations of the drilling programs in the event that certain components become worn or inoperable. Spare parts are held in reserve at the mine site and consumed when placed into service.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	19. SUBSEQUENT EVENTS On October 17, 2024, the Company announced that it had granted 1,200,000 Altitude The options will have an exercise price of $ 1.25 100,000 On October 29, 2024, the Company’s restricted share unit plan (the “ RSU Plan AGSM The maximum number of Common Shares that are issuable under the RSU Plan is 5,000,000 20 At the AGSM, shareholders also ratified and approved the prior grant of 1,000,000 RSUs, which were granted based on a market price of $ 0.76 600,000 0.60 . The RSU grants are fixed, not subject to vesting conditions other than service, and vest on a three year schedule from the anniversary of the date of grant, with one-third of the RSU grant vesting on each of the first, second and third anniversaries of the date of grant.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Statement of Compliance	(a) Statement of Compliance These unaudited condensed interim consolidated financial statements were prepared in accordance with US GAAP for interim financial information and in accordance with the instructions in Article 10 of Regulation S-X promulgated by the U.S. Securities and Exchange Commission (“ SEC Certain information or footnote disclosures normally included in annual financial statements prepared in accordance with US GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed interim consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2023. The interim period results do not necessary indicate the results that may be expected for any other interim period or for the full fiscal year.
Basis of preparation	(b) Basis of preparation These unaudited condensed interim consolidated financial statements have been prepared on a going concern basis under the historical cost convention, modified by the revaluation of any financial assets and financial liabilities where applicable. The preparation of consolidated financial statements in conformity with US GAAP 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, 2023. Operating segments are reported in a manner consistent with the internal reporting used for the audited annual consolidated financial statements. The Company determined that it has one three The Company’s presentation currency is Canadian (“ CA
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 as summarized in the table below. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS Name of Entity Place of Incorporation Percentage Ownership Functional Currency Premium Nickel Resources Ltd. Ontario, Canada CAD NAN Exploration Inc. Ontario, Canada 100 CAD PNR Amalco Ltd. Ontario, Canada 100 CAD Premium Nickel Resources International Ltd. Barbados 100 USD PNR Selkirk Group (Barbados) Limited Barbados 100 USD PNR Selebi (Barbados) Limited Barbados 100 USD Premium Nickel Group Proprietary Limited Botswana 100 BWP Premium Nickel Resources Proprietary Limited Botswana 100 BWP
Use of estimates and judgment	(d) Use of estimates and judgment The preparation of the unaudited condensed interim consolidated financial statements in accordance with US GAAP requires management to make judgements, estimates and assumptions that affect the implementation of the accounting policies and the recorded amount of assets and liabilities, income, expenses, and disclosure of contingent liabilities. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) Judgement Information about judgements made in applying accounting policies that have the most significant effect on the amounts recognized in these consolidated financial statements is the same as disclosed in Note 3 of the consolidated financial statements for the year ended December 31, 2023. Estimates Information about assumptions and estimates uncertainties as at September 30, 2024, that have a significant risk of resulting in a material adjustment to the carrying amount of assets and liabilities in the next financial year is the same as disclosed in Note 3 of the consolidated financial statement for the year ended December 31, 2023.

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS	SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS Name of Entity Place of Incorporation Percentage Ownership Functional Currency Premium Nickel Resources Ltd. Ontario, Canada CAD NAN Exploration Inc. Ontario, Canada 100 CAD PNR Amalco Ltd. Ontario, Canada 100 CAD Premium Nickel Resources International Ltd. Barbados 100 USD PNR Selkirk Group (Barbados) Limited Barbados 100 USD PNR Selebi (Barbados) Limited Barbados 100 USD Premium Nickel Group Proprietary Limited Botswana 100 BWP Premium Nickel Resources Proprietary Limited Botswana 100 BWP

OTHER RECEIVABLES (Tables)

OTHER RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
SCHEDULE OF OTHER RECEIVABLES	A summary of the Company’s other receivables is detailed in the table below: SCHEDULE OF OTHER RECEIVABLES September 30, 2024 $ December 31, 2023 $ HST paid on purchases 337,715 301,618 VAT paid on purchases 488,775 223,776 Other receivables - 7,441 Other receivables, net 826,490 532,835

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
Extractive Industries [Abstract]
SCHEDULE OF EXPLORATION AND EVALUATION ASSETS	SCHEDULE OF EXPLORATION AND EVALUATION ASSETS Botswana Selebi $ Selkirk $ Total $ Balance, December 31, 2022 8,251,518 327,109 8,578,627 Additions 483,883 - 483,883 Foreign currency translation (449,878 ) (17,834 ) (467,712 ) Balance, December 31, 2023 8,285,523 309,275 8,594,798 Foreign currency translation 251,333 9,381 260,714 Balance, September 30, 2024 8,536,856 318,656 8,855,512
SCHEDULE OF GENERAL EXPLORATION EXPENSES	Details of the general exploration expenses by nature are presented as follows: SCHEDULE OF GENERAL EXPLORATION EXPENSES For the nine months ended September 30, 2024: Selebi $ Selkirk $ Other $ Total $ Site operations and administration 706,303 38,761 128,600 873,664 Care and maintenance 2,218,200 - - 2,218,200 Geology 2,391,154 335,756 - 2,726,910 Drilling 5,209,401 163,232 - 5,372,633 Geophysics 868,261 31,537 - 899,798 Engineering 6,105,977 30,978 - 6,136,955 Environmental, social and governance 125,096 - - 125,096 Metallurgy and processing 40,709 26,855 - 67,564 Technical studies 8,322 4,600 - 12,922 Health and safety 119,756 44 - 119,800 Mine re-development 19,195 25,625 - 44,820 Total 17,812,374 657,388 128,600 18,598,362 For the nine months ended September 30, 2023: Selebi $ Selkirk $ Other $ Total $ Site operations and administration 468,322 41,752 139,782 649,856 Care and maintenance 2,289,013 - - 2,289,013 Geology 2,392,480 321,270 - 2,713,750 Drilling 1,301,463 6,683 - 1,308,146 Geophysics 1,460,507 17,792 - 1,478,299 Engineering 3,860,973 33,284 - 3,894,257 Environmental, social and governance 187,221 - - 187,221 Metallurgy and processing 58,632 103,050 - 161,682 Technical studies 21,072 7,650 - 28,722 Health and safety 319,203 - - 319,203 Water treatment project 46,102 - - 46,102 Mine re-development 176,506 - - 176,506 Total 12,581,494 531,481 139,782 13,252,757

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT	The tables below set out costs and accumulated depreciation and amortization as at September 30, 2024 and December 31, 2023: SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT Cost Land and Buildings (ROU Assets (1) $ Exploration Equipment (ROU Assets (1) $ Exploration Equipment $ Furniture and Fixtures $ Generator $ Vehicles $ Computer and software $ Total $ Balance – December 31, 2022 3,077,420 - 11,973 126,605 31,381 241,884 1,950 3,491,213 Additions - 1,023,615 4,190,484 65,998 8,557 187,310 585,561 6,061,525 Foreign currency translation (167,783 ) - - (704 ) (1,711 ) (31,162 ) (20,104 ) (221,464 ) Balance – December 31, 2023 2,909,637 1,023,615 4,202,457 191,899 38,227 398,032 567,407 9,331,274 Balance , Cost 2,909,637 1,023,615 4,202,457 191,899 38,227 398,032 567,407 9,331,274 Additions - - 4,181 15,111 - 111,629 6,543 137,464 Additions, Cost - - 4,181 15,111 - 111,629 6,543 137,464 Foreign currency translation 88,261 - 123,337 3,609 1,160 12,074 35,916 264,357 Foreign currency translation, Cost 88,261 - 123,337 3,609 1,160 12,074 35,916 264,357 Balance – September 30, 2024 2,997,898 1,023,615 4,329,975 210,619 39,387 521,735 609,866 9,733,095 Balance , Cost 2,997,898 1,023,615 4,329,975 210,619 39,387 521,735 609,866 9,733,095 Accumulated Depreciation Land and Building (ROU 1 Exploration Equipment (ROU 1 Exploration Equipment Furniture and Fixtures Generator Vehicles Computer and software Total Balance – December 31, 2022 51,123 - 1,447 1,872 562 39,589 1,950 96,543 Depreciation during the year 119,133 85,301 306,112 14,030 6,212 69,997 143,998 744,783 Foreign currency translation - - - 3,177 1,775 (3,503 ) - 1,449 Balance – December 31, 2023 170,256 85,301 307,559 19,079 8,549 106,083 145,948 842,775 Balance Accumulated Depreciation 170,256 85,301 307,559 19,079 8,549 106,083 145,948 842,775 Depreciation during the period 81,979 155,318 635,096 10,661 5,801 80,025 119,603 1,088,483 Depreciation Accumulated Depreciation 81,979 155,318 635,096 10,661 5,801 80,025 119,603 1,088,483 Foreign currency translation (1,776 ) 953 3,811 776 364 4,739 28,923 37,790 Foreign currency translation Accumulated Depreciation (1,776 ) 953 3,811 776 364 4,739 28,923 37,790 Balance – September 30, 2024 250,459 241,572 946,466 30,516 14,714 190,847 294,474 1,969,048 Balance Accumulated Depreciation 250,459 241,572 946,466 30,516 14,714 190,847 294,474 1,969,048 Carrying Value Land and Buildings (ROU 1 Exploration Equipment (ROU 1 Exploration Equipment Furniture and Fixtures Generator Vehicles Computer and Software Total Balance – December 31, 2023 2,739,381 938,314 3,894,898 172,820 29,678 291,949 421,459 8,488,499 Balance, Carrying 2,739,381 938,314 3,894,898 172,820 29,678 291,949 421,459 8,488,499 Balance – September 30, 2024 2,747,439 782,043 3,383,509 180,103 24,673 330,888 315,392 7,764,047 Balance, Carrying Value 2,747,439 782,043 3,383,509 180,103 24,673 330,888 315,392 7,764,047 Note: (1) Land and Buildings (ROU Assets) contains the Syringa Lodge right-of-use (“ ROU

TRADE PAYABLES AND ACCRUED LI_2

TRADE PAYABLES AND ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Payables and Accruals [Abstract]
SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES	A summary of trade payables and accrued liabilities is detailed in the table below: SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2024 $ December 31, 2023 $ Amounts due to related parties (Note 12) 24,667 93,795 Trade payables 3,595,882 2,383,196 Accrued liabilities 1,284,086 1,803,155 Total trade payables and accrued liabilities 4,904,635 4,280,146

TERM LOAN (Tables)

TERM LOAN (Tables)	9 Months Ended
	Sep. 30, 2024
Class of Warrant or Right [Line Items]
SCHEDULE OF CONTINUITY OF TERM LOAN	The following is a continuity of the Term Loan: SCHEDULE OF CONTINUITY OF TERM LOAN $ Principal amount of the Term Loan 15,000,000 Fair value of the Non-Transferrable Warrants (1,435,350 ) Term Loan at fair value on issuance, June 28, 2023 13,564,650 Transaction costs (787,175 ) Accrued interest 390,411 Accretion of warrant value and transaction costs 631,540 Interest paid (390,411 ) Fair value of Term Loan as of December 14, 2023 13,409,015 Additional principal amount of Term Loan on December 14, 2023 5,882,353 Term Loan issue discount (882,353 ) Fair value of the Additional Warrants (275,961 ) Transaction fee for modification (219,212 ) Fair value of modified Term Loan as of December 14, 2023 17,913,842 Accrued interest 402,981 Accretion of warrant value and transaction costs 42,581 Interest paid (402,981 ) Term Loan balance, December 31, 2023 17,956,423 Accrued interest 1,563,324 Accretion of warrant value and transaction costs 753,854 Interest paid (1,563,324 ) Term Loan balance, September 30, 2024 18,710,277
Non Transferable Warrants and Additional Warrants [Member]
Class of Warrant or Right [Line Items]
SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE AND ADDITIONAL WARRANTS	The fair value of the Non-Transferable Warrants and Additional Warrants was calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE AND ADDITIONAL WARRANTS Non-Transferable Warrants Additional Warrants Expected dividend yield 0 % 0 % Share price $ 1.35 $ 1.14 Expected share price volatility 92.06 % 63.54 % Risk free interest rate 4.13 % 3.73 % Expected life of warrant 3 2.54

PROMISSORY NOTE (Tables)

PROMISSORY NOTE (Tables)	9 Months Ended
	Sep. 30, 2024
Lender Warrants [Member]
Class of Warrant or Right [Line Items]
SCHEDULE OF LENDER WARRANTS	The fair value of the Lender warrants was calculated using the following assumptions: SCHEDULE OF LENDER WARRANTS March 17, 2023 Expected dividend yield 0 % Share price $ 1.40 Expected share price volatility 77.2 % Risk free interest rate 3.49 % Expected life of warrant 1

LEASE LIABILITIES (Tables)

LEASE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Lease Liabilities
SCHEDULE OF LEASE COST AND OTHER SUPPLEMENTAL LEASE	The following table presents lease cost and other supplemental lease information: SCHEDULE OF LEASE COST AND OTHER SUPPLEMENTAL LEASE September 30, 2024 $ September 30, 2023 $ Finance lease cost: Amortization of right-of-use assets 237,297 126,380 Interest expense on lease liabilities 107,238 233,327 Cash paid for finance lease liabilities 1,043,200 3,602,167

SHARE CAPITAL, WARRANTS AND O_2

SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Class of Warrant or Right [Line Items]
SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY	The following summarizes common share purchase warrant activity: SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY Nine months ended September 30, 2024 Year ended December 31, 2023 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the year 6,891,099 1.50 1,098,786 1.96 Issued 36,281,409 1.10 6,595,448 1.46 Exercised - - (100,000 ) (1.75 ) Expired (645,651 ) (2.05 ) (703,135 ) (1.80 ) Outstanding, end of the period 42,526,857 1.15 6,891,099 1.50
SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING	At September 30, 2024, the Company had outstanding common share purchase warrants exercisable to acquire Common Shares as follows: SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING Warrants Outstanding Expiry Date Exercise Price ($) 221,448 February 24, 2025 1.75 5,324,000 June 28, 2026 1.44 700,000 June 28, 2026 1.44 20,259,614 June 14, 2029 1.10 16,021,795 June 21, 2029 1.10 42,526,857
SCHEDULE OF OPTION ACTIVITY	The following summarizes the option activity under the Plan: SCHEDULE OF OPTION ACTIVITY Nine months ended September 30, 2024 Year ended December 31, 2023 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of the year 13,487,921 1.39 10,407,044 1.10 Issued 3,110,000 1.10 3,833,277 1.75 Exercised (278,100 ) (0.86 ) (488,900 ) (0.49 ) Cancelled (150,000 ) (1.75 ) (263,500 ) (2.40 ) Outstanding, end of the period 16,169,821 1.34 13,487,921 1.39
SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED	The fair value of stock options granted was determined using the following assumptions: SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED Nine months ended September 30, 2024 Year ended December 31, 2023 Expected dividend yield 0 % 0 % Expected forfeiture rate 0 % 0 % Expected share price volatility 117.60 % 87.92 % Risk free interest rate 2.91 3.23 4.28 4.68 Expected life of options 2.5 3.5 3 4
SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING	Details of options outstanding as at September 30, 2024 are as follows: SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING Options Outstanding Options Exercisable Expiry Date Exercise Price ($) 660,000 660,000 February 24, 2025 0.80 240,000 240,000 August 19, 2025 0.45 3,320,100 3,320,000 January 26, 2026 0.39 495,000 495,000 February 25, 2026 1.60 1,185,750 1,185,750 September 29, 2026 0.91 998,794 998,794 October 25, 2026 2.00 2,476,900 2,476,900 January 20, 2027 2.40 3,683,277 1,227,759 August 8, 2028 1.75 3,110,000 1,036,666 August 14, 2029 1.10 16,169,821 11,640,869
SCHEDULE OF DSU GRANTED	The following is a continuity of the DSUs: SCHEDULE OF DSU GRANTED Number Outstanding Market Price (1) ($) Fair Value ($) DSUs outstanding at December 31, 2022 200,000 1.49 298,000 Granted 600,951 1.33 798,122 Redeemed (69,976 ) 1.19 (83,527 ) Fair value adjustment - (128,114 ) DSUs outstanding at December 31, 2023 730,975 1.21 884,481 Granted 1,116,269 0.79 882,410 Fair value adjustment - (473,820 ) DSUs outstanding at September 30, 2024 1,847,244 0.70 1,293,071 Note: (1) Under 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 or redemption date.
Transferable Warrants [Member]
Class of Warrant or Right [Line Items]
SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS	The fair value of the Transferable Warrants in connection with the February 2023 Financing and the 2023 Financing Transactions were calculated using the following assumptions: SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS February 24, 2023 June 28, 2023 Expected dividend yield 0 % 0 % Share 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
Monte-Carlo Model [Member]
Class of Warrant or Right [Line Items]
SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS	SCHEDULE OF FAIR VALUE OF WARRANTS June 14, 2024 June 21, 2024 Expected dividend yield 0 % 0 % Share price $ 0.81 $ 0.84 Expected share price volatility 83.17 % 83.71 % Risk free interest rate 3.23 % 3.30 % Expected life of warrant 5 5

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
SCHEDULE OF RELATED PARTY TRANSACTIONS	The following amounts due to related parties are included in trade payables and accrued liabilities (Note 6). SCHEDULE OF RELATED PARTY TRANSACTIONS September 30, 2024 $ December 31, 2023 $ Directors and officers of the Company 24,667 93,795 Other liabilities, current 24,667 93,795 Key management compensation was related to the following: Nine months ended September 30, 2024 $ 2023 $ Management fees, salaries and benefits 2,596,401 2,679,450 DSUs granted, net of fair value movements 408,590 558,524 Share-based payment 1,014,619 - Key management compensation 4,019,610 3,237,974

RISK MANAGEMENT (Tables)

RISK MANAGEMENT (Tables)	9 Months Ended
	Sep. 30, 2024
Risks and Uncertainties [Abstract]
SCHEDULE OF RISK MANAGEMENT	Foreign currency denominated financial assets and liabilities which expose the Company to currency risk are disclosed below. The amounts shown are those reported and translated into CAD at the closing rate. SCHEDULE OF RISK MANAGEMENT Short-term exposure Long-term exposure USD $ BWP $ BWP $ September 30, 2024 Financial assets 1,746,290 1,495,375 70,525,700 Financial liabilities (1,637,329 ) (2,190,746 ) (1,240,006 ) Total exposure 108,961 (695,371 ) 69,285,694 Short-term exposure Long-term exposure USD $ BWP $ BWP $ December 31, 2023 Financial assets 2,576,180 755,386 54,082,922 Financial liabilities (501,458 ) (4,851,201 ) (3,508,714 ) Total exposure 2,074,722 (4,095,815 ) 50,574,208
SENSITIVITY ANALYSIS FOR EFFECT OF FOREIGN CURRENCY CHANGES	If the CAD strengthened against the USD and BWP by 5 SENSITIVITY ANALYSIS FOR EFFECT OF FOREIGN CURRENCY CHANGES Short-term exposure Long-term exposure USD $ BWP $ Total $ BWP $ September 30, 2024 5,448 (34,769 ) (29,321 ) 3,464,285 December 31, 2023 103,736 (204,791 ) (101,055 ) 2,528,710 Notes to the Unaudited Condensed Interim Consolidated Financial Statements For the three and nine months ended September 30, 2024 and 2023 (Expressed in Canadian dollars) If the CAD weakened against the USD and BWP by 5 Short-term exposure Long-term exposure USD $ BWP $ Total $ BWP $ September 30, 2024 (5,448 ) 34,769 29,321 (3,464,285 ) December 31, 2023 (103,736 ) 204,791 101,055 (2,528,710 )
SCHEDULE OF CONTRACTUAL OBLIGATIONS	The following table shows the Company’s contractual obligations as at September 30, 2024: SCHEDULE OF CONTRACTUAL OBLIGATIONS Less than 1 year $ 1 - 2 years $ 2 - 5 years $ Total $ Trade payables and accrued liabilities 4,904,635 - - 4,904,635 Vehicle financing 34,232 136,929 109,309 280,470 Term Loan 2,088,235 22,448,529 - 24,536,764 Lease liabilities 675,181 - - 675,181 7,702,283 22,585,458 109,309 30,397,050
SCHEDULE OF CAPITAL RISK MANAGEMENT	SCHEDULE OF CAPITAL RISK MANAGEMENT September 30, 2024 $ December 31, 2023 $ Shareholder’s equity 7,718,897 9,745,686 Vehicle financing 280,470 236,124 Lease liabilities 675,181 1,611,143 Term Loan 18,710,277 17,956,423 Capital Gross Amount 27,384,825 29,549,376 Cash and cash equivalents (17,358,377 ) (19,245,628 ) Capital Net of Cash 10,026,448 10,303,748

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SCHEDULE OF INFORMATION ABOUT COMPANY'S GEOGRAPHIC SEGMENTS	SCHEDULE OF INFORMATION ABOUT COMPANY'S GEOGRAPHIC SEGMENTS September 30, 2024 $ December 31, 2023 $ Current assets Canada 16,175,522 15,894,177 Barbados 338,247 104,024 Botswana 4,158,740 4,892,707 Total 20,672,509 20,890,908 Current assets 20,672,509 20,890,908 September 30, 2024 $ December 31, 2023 $ Property, plant and equipment Canada 7,481 8,726 Botswana 7,756,566 8,479,773 Total 7,764,047 8,488,499 Property, plant and equipment 7,764,047 8,488,499 September 30, 2024 $ December 31, 2023 $ Exploration and evaluation assets Botswana 8,855,512 8,594,798 Exploration and evaluation assets 8,855,512 8,594,798

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2024
General And Administrative Expenses
GENERAL AND ADMINISTRATIVE EXPENSES	Details of the general and administrative expenses are presented in the following table: GENERAL AND ADMINISTRATIVE EXPENSES Three months ended Nine months ended September 30, 2024 $ September 30, 2023 $ September 30, 2024 $ September 30, 2023 $ Advisory and consultancy 74,005 119,072 251,991 705,956 Filing fees 189,783 25,378 460,485 256,929 General office expenses 508,035 413,145 1,232,215 969,768 Insurance 157,781 170,778 486,456 551,791 Investor relations 185,027 137,392 472,244 422,754 Management fee 670,389 865,446 2,239,889 2,496,109 Professional fees 347,303 21,539 962,827 664,228 Salaries and benefits 181,950 183,390 550,975 183,390 Total 2,314,273 1,936,140 6,657,082 6,250,925

SPARE PARTS (Tables)

SPARE PARTS (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
SCHEDULE OF THE MOVEMENTS IN RELATION TO SPARE PARTS	Details of the movements in relation to spare parts are presented in the following table: SCHEDULE OF THE MOVEMENTS IN RELATION TO SPARE PARTS Spare Parts $ As at December 31, 2022 - Additions 212,135 Utilization - As at December 31, 2023 212,135 Additions 1,110,663 Utilization (120,342 ) Foreign currency translation (401 ) As at September 30, 2024 1,202,055

NATURE OF OPERATIONS AND GOIN_2

NATURE OF OPERATIONS AND GOING CONCERN (Details Narrative) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 12,004,960	$ 7,684,834	$ 31,145,332	$ 22,199,513

SCHEDULE OF ITS WHOLLY-OWNED SU

SCHEDULE OF ITS WHOLLY-OWNED SUBSIDIARIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS (Details)	9 Months Ended
	Sep. 30, 2024
Premium Nickel Resources Ltd [Member]
Place of Incorporation	Ontario, Canada
NAN Exploration Inc [Member]
Place of Incorporation	Ontario, Canada
Percentage Ownership	100%
PNR Amalco Ltd [Member]
Place of Incorporation	Ontario, Canada
Percentage Ownership	100%
Premium Nickel Resources International Ltd [Member]
Place of Incorporation	Barbados
Percentage Ownership	100%
PNR Selkirk Group Barbados Limited [Member]
Place of Incorporation	Barbados
Percentage Ownership	100%
PNR Selebi Barbados Limited [Member]
Place of Incorporation	Barbados
Percentage Ownership	100%
Premium Nickel Group Proprietary Limited [Member]
Place of Incorporation	Botswana
Percentage Ownership	100%
Premium Nickel Resources Proprietary Limited [Member]
Place of Incorporation	Botswana
Percentage Ownership	100%

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	9 Months Ended
	Sep. 30, 2024 Segment
Accounting Policies [Abstract]
Number of reportable segments	1
Number of operating segments	3

SCHEDULE OF OTHER RECEIVABLES (

SCHEDULE OF OTHER RECEIVABLES (Details) - CAD ($)	Sep. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
HST paid on purchases	$ 337,715	$ 301,618
VAT paid on purchases	488,775	223,776
Other receivables		7,441
Other receivables, net	$ 826,490	$ 532,835

SCHEDULE OF EXPLORATION AND EVA

SCHEDULE OF EXPLORATION AND EVALUATION ASSETS (Details) - CAD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Oil and Gas, Full Cost Method, Amortization Expense [Line Items]
Balance, December 31, 2023	$ 8,594,798	$ 8,578,627
Additions		483,883
Foreign currency translation	260,714	(467,712)
Balance, September 30, 2024	8,855,512	8,594,798
BOTSWANA | Selebi [Member] | Mining Properties and Mineral Rights [Member]
Oil and Gas, Full Cost Method, Amortization Expense [Line Items]
Balance, December 31, 2023	8,285,523	8,251,518
Additions		483,883
Foreign currency translation	251,333	(449,878)
Balance, September 30, 2024	8,536,856	8,285,523
BOTSWANA | Selkrik [Member] | Mining Properties and Mineral Rights [Member]
Oil and Gas, Full Cost Method, Amortization Expense [Line Items]
Balance, December 31, 2023	309,275	327,109
Additions
Foreign currency translation	9,381	(17,834)
Balance, September 30, 2024	$ 318,656	$ 309,275

SCHEDULE OF GENERAL EXPLORATION

SCHEDULE OF GENERAL EXPLORATION EXPENSES (Details) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Total	$ 7,318,600	$ 4,330,412	$ 18,598,362	$ 13,252,757
Site Operations and Administration [Member]
Restructuring Cost and Reserve [Line Items]
Total			873,664	649,856
Care and Maintenance [Member]
Restructuring Cost and Reserve [Line Items]
Total			2,218,200	2,289,013
Geology [Member]
Restructuring Cost and Reserve [Line Items]
Total			2,726,910	2,713,750
Drilling [Member]
Restructuring Cost and Reserve [Line Items]
Total			5,372,633	1,308,146
Geophysics [Member]
Restructuring Cost and Reserve [Line Items]
Total			899,798	1,478,299
Engineering [Member]
Restructuring Cost and Reserve [Line Items]
Total			6,136,955	3,894,257
Environmental, Social and Governance [Member]
Restructuring Cost and Reserve [Line Items]
Total			125,096	187,221
Metallurgy and Processing [Member]
Restructuring Cost and Reserve [Line Items]
Total			67,564	161,682
Technical Studies [Member]
Restructuring Cost and Reserve [Line Items]
Total			12,922	28,722
Health and Safety [Member]
Restructuring Cost and Reserve [Line Items]
Total			119,800	319,203
Mine Re-Development [Member]
Restructuring Cost and Reserve [Line Items]
Total			44,820	176,506
Water Treatment Project [Member]
Restructuring Cost and Reserve [Line Items]
Total				46,102
Selebi [Member]
Restructuring Cost and Reserve [Line Items]
Total			17,812,374	12,581,494
Selebi [Member] | Site Operations and Administration [Member]
Restructuring Cost and Reserve [Line Items]
Total			706,303	468,322
Selebi [Member] | Care and Maintenance [Member]
Restructuring Cost and Reserve [Line Items]
Total			2,218,200	2,289,013
Selebi [Member] | Geology [Member]
Restructuring Cost and Reserve [Line Items]
Total			2,391,154	2,392,480
Selebi [Member] | Drilling [Member]
Restructuring Cost and Reserve [Line Items]
Total			5,209,401	1,301,463
Selebi [Member] | Geophysics [Member]
Restructuring Cost and Reserve [Line Items]
Total			868,261	1,460,507
Selebi [Member] | Engineering [Member]
Restructuring Cost and Reserve [Line Items]
Total			6,105,977	3,860,973
Selebi [Member] | Environmental, Social and Governance [Member]
Restructuring Cost and Reserve [Line Items]
Total			125,096	187,221
Selebi [Member] | Metallurgy and Processing [Member]
Restructuring Cost and Reserve [Line Items]
Total			40,709	58,632
Selebi [Member] | Technical Studies [Member]
Restructuring Cost and Reserve [Line Items]
Total			8,322	21,072
Selebi [Member] | Health and Safety [Member]
Restructuring Cost and Reserve [Line Items]
Total			119,756	319,203
Selebi [Member] | Mine Re-Development [Member]
Restructuring Cost and Reserve [Line Items]
Total			19,195	176,506
Selebi [Member] | Water Treatment Project [Member]
Restructuring Cost and Reserve [Line Items]
Total				46,102
Selkirk [Member]
Restructuring Cost and Reserve [Line Items]
Total			657,388	531,481
Selkirk [Member] | Site Operations and Administration [Member]
Restructuring Cost and Reserve [Line Items]
Total			38,761	41,752
Selkirk [Member] | Care and Maintenance [Member]
Restructuring Cost and Reserve [Line Items]
Total
Selkirk [Member] | Geology [Member]
Restructuring Cost and Reserve [Line Items]
Total			335,756	321,270
Selkirk [Member] | Drilling [Member]
Restructuring Cost and Reserve [Line Items]
Total			163,232	6,683
Selkirk [Member] | Geophysics [Member]
Restructuring Cost and Reserve [Line Items]
Total			31,537	17,792
Selkirk [Member] | Engineering [Member]
Restructuring Cost and Reserve [Line Items]
Total			30,978	33,284
Selkirk [Member] | Environmental, Social and Governance [Member]
Restructuring Cost and Reserve [Line Items]
Total
Selkirk [Member] | Metallurgy and Processing [Member]
Restructuring Cost and Reserve [Line Items]
Total			26,855	103,050
Selkirk [Member] | Technical Studies [Member]
Restructuring Cost and Reserve [Line Items]
Total			4,600	7,650
Selkirk [Member] | Health and Safety [Member]
Restructuring Cost and Reserve [Line Items]
Total			44
Selkirk [Member] | Mine Re-Development [Member]
Restructuring Cost and Reserve [Line Items]
Total			25,625
Selkirk [Member] | Water Treatment Project [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member]
Restructuring Cost and Reserve [Line Items]
Total			128,600	139,782
Other [Member] | Site Operations and Administration [Member]
Restructuring Cost and Reserve [Line Items]
Total			128,600	139,782
Other [Member] | Care and Maintenance [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Geology [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Drilling [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Geophysics [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Engineering [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Environmental, Social and Governance [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Metallurgy and Processing [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Technical Studies [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Health and Safety [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Mine Re-Development [Member]
Restructuring Cost and Reserve [Line Items]
Total
Other [Member] | Water Treatment Project [Member]
Restructuring Cost and Reserve [Line Items]
Total

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details Narrative)			1 Months Ended		9 Months Ended	10 Months Ended		17 Months Ended
	Aug. 31, 2023 USD ($)	Sep. 28, 2021	Sep. 30, 2021 USD ($)	Sep. 30, 2021 CAD ($)	Sep. 30, 2024	Jan. 31, 2022 USD ($)	Jan. 31, 2022 CAD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2022 CAD ($)	Aug. 31, 2023 CAD ($)
Asset Acquisition [Line Items]
Percentage of acquired in two additional deposits	100%
Acquisition cost of additional properties	$ 1,000,000									$ 1,349,900
Asset acquisition description					In addition, the Company agreed to additional work commitments of $6,749,500 (USD 5,000,000) in the aggregate over the next four years. As a result of the extension of the Selebi mining license, the remaining asset purchase obligations of the Company outlined in the original Selebi APA with the liquidator will each increase by 10%, or $7,424,450 (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 license will also apply to production from these additional deposits, subject to the Company’s existing buy-back right for 50% of the NSR (Note 10). The acquisition of the Phikwe South and the Southeast Extension deposits has not yet closed as at September 30, 2024.
Selebi [Member]
Asset Acquisition [Line Items]
Number of installments		three
Acqusition cost						$ 5,178,747	$ 6,164,688
Threshold period for payment			4 years	4 years
Selebi [Member] | First Instalment [Member]
Asset Acquisition [Line Items]
Instalment amount to be paid			$ 1,750,000	$ 2,086,830
Paid instalment amount						$ 1,750,000	$ 2,086,830
Selebi [Member] | Second Instalment [Member]
Asset Acquisition [Line Items]
Instalment amount to be paid			25,000,000	33,747,500				$ 25,000,000	$ 33,747,500
Selebi [Member] | Third Instalment [Member]
Asset Acquisition [Line Items]
Instalment amount to be paid			30,000,000	40,497,000				30,000,000	40,497,000
Selkirk [Member]
Asset Acquisition [Line Items]
Acqusition cost								$ 244,954	$ 327,109
Selebi APA [Member]
Asset Acquisition [Line Items]
Aggregate purchase price payable			$ 56,750,000	$ 76,862,200

SCHEDULE OF PROPERTY, PLANT AND

SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT (Details) - CAD ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Balance , Cost				$ 9,331,274	$ 3,491,213	$ 3,491,213
Additions, Cost				137,464		6,061,525
Foreign currency translation, Cost				264,357		(221,464)
Balance , Cost		$ 9,733,095		9,733,095		9,331,274
Balance Accumulated Depreciation				842,775	96,543	96,543
Depreciation Accumulated Depreciation		354,581	$ 151,500	1,088,483	241,260	744,783
Foreign currency translation Accumulated Depreciation				37,790		1,449
Balance Accumulated Depreciation		1,969,048		1,969,048		842,775
Balance, Carrying Value				8,488,499
Balance, Carrying Value		7,764,047		7,764,047		8,488,499
Land And Buildings Right Of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				2,909,637	3,077,420	3,077,420
Additions, Cost
Foreign currency translation, Cost				88,261		(167,783)
Balance , Cost		2,997,898		2,997,898		2,909,637
Balance Accumulated Depreciation	[1]			170,256	51,123	51,123
Depreciation Accumulated Depreciation	[1]			81,979		119,133
Foreign currency translation Accumulated Depreciation	[1]			(1,776)
Balance Accumulated Depreciation	[1]	250,459		250,459		170,256
Balance, Carrying Value	[1]			2,739,381
Balance, Carrying Value	[1]	2,747,439		2,747,439		2,739,381
Exploration Equipment Right Of Use Assets [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				1,023,615
Additions, Cost						1,023,615
Foreign currency translation, Cost
Balance , Cost		1,023,615		1,023,615		1,023,615
Balance Accumulated Depreciation	[1]			85,301
Depreciation Accumulated Depreciation	[1]			155,318		85,301
Foreign currency translation Accumulated Depreciation	[1]			953
Balance Accumulated Depreciation	[1]	241,572		241,572		85,301
Balance, Carrying Value	[1]			938,314
Balance, Carrying Value	[1]	782,043		782,043		938,314
Exploration and Production Equipment [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				4,202,457	11,973	11,973
Additions, Cost				4,181		4,190,484
Foreign currency translation, Cost				123,337
Balance , Cost		4,329,975		4,329,975		4,202,457
Balance Accumulated Depreciation				307,559	1,447	1,447
Depreciation Accumulated Depreciation				635,096		306,112
Foreign currency translation Accumulated Depreciation				3,811
Balance Accumulated Depreciation		946,466		946,466		307,559
Balance, Carrying Value				3,894,898
Balance, Carrying Value		3,383,509		3,383,509		3,894,898
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				191,899	126,605	126,605
Additions, Cost				15,111		65,998
Foreign currency translation, Cost				3,609		(704)
Balance , Cost		210,619		210,619		191,899
Balance Accumulated Depreciation				19,079	1,872	1,872
Depreciation Accumulated Depreciation				10,661		14,030
Foreign currency translation Accumulated Depreciation				776		3,177
Balance Accumulated Depreciation		30,516		30,516		19,079
Balance, Carrying Value				172,820
Balance, Carrying Value		180,103		180,103		172,820
Electric Generation Equipment [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				38,227	31,381	31,381
Additions, Cost						8,557
Foreign currency translation, Cost				1,160		(1,711)
Balance , Cost		39,387		39,387		38,227
Balance Accumulated Depreciation				8,549	562	562
Depreciation Accumulated Depreciation				5,801		6,212
Foreign currency translation Accumulated Depreciation				364		1,775
Balance Accumulated Depreciation		14,714		14,714		8,549
Balance, Carrying Value				29,678
Balance, Carrying Value		24,673		24,673		29,678
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				398,032	241,884	241,884
Additions, Cost				111,629		187,310
Foreign currency translation, Cost				12,074		(31,162)
Balance , Cost		521,735		521,735		398,032
Balance Accumulated Depreciation				106,083	39,589	39,589
Depreciation Accumulated Depreciation				80,025		69,997
Foreign currency translation Accumulated Depreciation				4,739		(3,503)
Balance Accumulated Depreciation		190,847		190,847		106,083
Balance, Carrying Value				291,949
Balance, Carrying Value		330,888		330,888		291,949
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Balance , Cost				567,407	1,950	1,950
Additions, Cost				6,543		585,561
Foreign currency translation, Cost				35,916		(20,104)
Balance , Cost		609,866		609,866		567,407
Balance Accumulated Depreciation				145,948	$ 1,950	1,950
Depreciation Accumulated Depreciation				119,603		143,998
Foreign currency translation Accumulated Depreciation				28,923
Balance Accumulated Depreciation		294,474		294,474		145,948
Balance, Carrying Value				421,459
Balance, Carrying Value		$ 315,392		$ 315,392		$ 421,459
[1]Land and Buildings (ROU Assets) contains the Syringa Lodge right-of-use (“ ROU

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - CAD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Purchase of drilling equipment	$ 137,464	$ 6,061,525
Equipment [Member]
Property, Plant and Equipment [Line Items]
Purchase of drilling equipment		$ 1,023,615

SCHEDULE OF TRADE PAYABLES AND

SCHEDULE OF TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($)	Sep. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Amounts due to related parties (Note 12)	$ 24,667	$ 93,795
Trade payables	3,595,882	2,383,196
Accrued liabilities	1,284,086	1,803,155
Total trade payables and accrued liabilities	$ 4,904,635	$ 4,280,146

SCHEDULE OF FAIR VALUE OF NON-T

SCHEDULE OF FAIR VALUE OF NON-TRANSFERABLE AND ADDITIONAL WARRANTS (Details)	Jun. 21, 2024	Jun. 14, 2024	Dec. 14, 2023	Jun. 28, 2023
Measurement Input, Expected Dividend Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	0	0
Measurement Input, Share Price [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	0.84	0.81
Measurement Input, Price Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	83.71	83.17
Measurement Input, Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	3.30	3.23
Measurement Input, Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	5	5
Non Transferable Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input				0
Non Transferable Warrants [Member] | Measurement Input, Share Price [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input				1.35
Non Transferable Warrants [Member] | Measurement Input, Price Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input				0.9206
Non Transferable Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input				0.0413
Non Transferable Warrants [Member] | Measurement Input, Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input				3 years
Additional Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			0
Additional Warrants [Member] | Measurement Input, Share Price [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			1.14
Additional Warrants [Member] | Measurement Input, Price Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			0.6354
Additional Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			0.0373
Additional Warrants [Member] | Measurement Input, Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			2 years 6 months 14 days

SCHEDULE OF CONTINUITY OF TERM

SCHEDULE OF CONTINUITY OF TERM LOAN (Details) - CAD ($)			9 Months Ended
	Dec. 14, 2023	Jun. 28, 2023	Sep. 30, 2024	Jun. 21, 2024
Short-Term Debt [Line Items]
Fair value of the attached warrants				$ (1,087,755)
Term Loan [Member]
Short-Term Debt [Line Items]
Principal amount of the Term Loan	$ 20,882,353	$ 15,000,000
Fair value of the attached warrants	(275,961)	(1,435,350)
Term Loan balance	17,913,842	13,564,650	$ 17,956,423
Transaction costs		(787,175)
Accrued interest	402,981	390,411	1,563,324
Accretion of warrant value and transaction costs	42,581	631,540	753,854
Interest paid	(402,981)	$ (390,411)	(1,563,324)
Fair value of loan	13,409,015
Additional principal amount of loan	5,882,353
Loan issue discount	(882,353)
Transaction fee for modification	$ (219,212)
Term Loan balance			$ 18,710,277

TERM LOAN (Details Narrative)

TERM LOAN (Details Narrative)			9 Months Ended
	Dec. 14, 2023 CAD ($) $ / shares shares	Jun. 28, 2023 CAD ($) Integer $ / shares shares	Sep. 30, 2024 CAD ($)	Sep. 30, 2023 CAD ($)	Jun. 21, 2024 CAD ($) $ / shares shares
Short-Term Debt [Line Items]
Gross proceeds		$ 33,999,200
Number of transactions in financing | Integer		3
Equity offering units		$ 16,249,200	$ 27,499,999	$ 23,814,272
Option payments		$ 2,750,000
Issued an additional shares | shares					1,025,000
Shares price | $ / shares					$ 1.10
Issuance of debt				14,625,000
Issued an additional shares					$ 1,087,755
Warrants allocated				1,468,231
Proceeds from the Term Loan				7,000,000
Interest cost			1,563,324	$ 390,411
Fort Capital Partners [Member]
Short-Term Debt [Line Items]
Transaction cash fees			375,000
Additional transaction cash fees			$ 147,059
Original principal			2.50%
Legal fees			$ 736,067
Non Transferable Warrants [Member]
Short-Term Debt [Line Items]
Issued an additional shares | shares		2,000,000
Shares price | $ / shares		$ 1.4375
Issued an additional shares		$ 1,435,350
Warrants allocated		1,352,054
Transaction costs		$ 83,296
Additional Warrants [Member]
Short-Term Debt [Line Items]
Issued an additional shares | shares	700,000
Shares price | $ / shares	$ 1.4375
Issued an additional shares	$ 275,961
Warrants allocated	275,961
Term Loan [Member]
Short-Term Debt [Line Items]
Debt instrument term		3 years
Principal amount	20,882,353	$ 15,000,000
Return royality percentage		0.50%
Debt interest percentage		10%
Debt interest rate increase		15%
Debt repayment amount		$ 500,000
Debt integral unpaid amount		$ 100,000
Debt instrument description		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
Additional amount	$ 5,882,353
Issuance of debt	15%
Issuance of debt	$ 5,000,000
Issued an additional shares	$ 275,961	$ 1,435,350
Legal fees			495,471
Amended And Restated Promissory Note [Member]
Short-Term Debt [Line Items]
Proceeds from the Term Loan			7,637,329
Legal fees			$ 72,153

SCHEDULE OF LENDER WARRANTS (De

SCHEDULE OF LENDER WARRANTS (Details)	Jun. 21, 2024	Jun. 14, 2024	Mar. 17, 2023
Measurement Input, Expected Dividend Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	0	0
Measurement Input, Share Price [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	0.84	0.81
Measurement Input, Price Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	83.71	83.17
Measurement Input, Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	3.30	3.23
Measurement Input, Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input	5	5
Lender Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			0
Lender Warrants [Member] | Measurement Input, Share Price [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			1.40
Lender Warrants [Member] | Measurement Input, Price Volatility [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			77.2
Lender Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			3.49
Lender Warrants [Member] | Measurement Input, Expected Term [Member]
Class of Warrant or Right [Line Items]
Warrants and rights outstanding measurement input			1 year

PROMISSORY NOTE (Details Narrat

PROMISSORY NOTE (Details Narrative) - CAD ($)			3 Months Ended	9 Months Ended
	Mar. 17, 2023	Nov. 21, 2022	Sep. 30, 2024	Sep. 30, 2024	Jun. 21, 2024
Short-Term Debt [Line Items]
Non-transferable common share purchase warrants					1,025,000
Exercise price					$ 1.10
Warrants					$ 1,087,755
Bridge Loan Promissory Note [Member]
Short-Term Debt [Line Items]
Principal amount		$ 7,000,000
Notes payable		6,740,000
Commitment fees		$ 260,000
Interest rate		10%
Amended And Restated Promissory Note [Member] | Lender Warrants [Member]
Short-Term Debt [Line Items]
Amendment and restatement fee	$ 225,000		$ 225,000	$ 225,000
Non-transferable common share purchase warrants	350,000
Exercise price	$ 1.75
Common share purchase warrants	119,229
Accretion expense				682,547
Warrants			$ 116,177	$ 116,177

SCHEDULE OF LEASE COST AND OTHE

SCHEDULE OF LEASE COST AND OTHER SUPPLEMENTAL LEASE (Details) - CAD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Lease Liabilities
Amortization of right-of-use assets	$ 237,297	$ 126,380
Interest expense on lease liabilities	107,238	233,327
Cash paid for finance lease liabilities	$ 1,043,200	$ 3,602,167

LEASE LIABILITIES (Details Narr

LEASE LIABILITIES (Details Narrative)

1 Months Ended

9 Months Ended

12 Months Ended

Nov. 30, 2024 CAD ($)

Nov. 30, 2024 BWP (P)

Sep. 12, 2024 CAD ($)

Sep. 12, 2024 BWP (P)

Jul. 31, 2023 CAD ($)

Jul. 31, 2023 BWP (P)

Mar. 31, 2023 CAD ($)

Aug. 31, 2022 CAD ($)

Aug. 31, 2022 BWP (P)

Jul. 31, 2022 CAD ($)

Jul. 31, 2022 BWP (P)

Sep. 30, 2024 CAD ($)

Dec. 31, 2023 CAD ($)

Property, Plant and Equipment [Line Items]

Lease paid percentage

50%

50%

Interest rate

6%

Purchase price

$ 137,464

$ 6,061,525

Finance Leased Asset Building [Member]

Property, Plant and Equipment [Line Items]

Aggregate purchase price payable

$ 3,213,404

P 30,720,000

Deposit

$ 482,011

P 4,608,000

Purchase price payable

$ 653,061

P 6,528,000

$ 1,306,906

P 13,056,000

Finance Leased Asset Building [Member] | Subsequent Event [Member]

Property, Plant and Equipment [Line Items]

Purchase price payable

$ 665,203

P 6,528,000

Finance Leased Asset Drilling Equipment [Member]

Property, Plant and Equipment [Line Items]

Aggregate purchase price payable

$ 2,942,000

Deposit

$ 1,700,000

Interest rate

35%

Payable

$ 103,500

Purchase price

$ 2,735,000

NSR OPTION (Details Narrative)

NSR OPTION (Details Narrative)		9 Months Ended
	Jun. 28, 2023 CAD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Dec. 31, 2023 CAD ($)	Aug. 31, 2022 USD ($)	Aug. 31, 2022 CAD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2022 CAD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Option payment	$ 2,750,000
Cymbria [Member] | Selebi Mines And Selkirk Mine [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royality percentage			0.50%
Cymbria [Member] | Selebi Mines [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Mine payments		$ 8,102,500	$ 10,937,565
Cymbria [Member] | Selkirk Mine [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Mine payments		$ 810,250	$ 1,093,756
Premium Nickel Group Proprietary Limited [Member] | Cymbria [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royality percentage			0.50%
Contractual Rights Option Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Option payment	2,750,000
Contractual Rights Option Arrangement [Member] | Cymbria [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Fair value of call option
Contractual Rights Option Arrangement [Member] | Premium Nickel Resources Proprietary Limited [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Option payment	2,500,000
Contractual Rights Option Arrangement [Member] | Premium Nickel Group Proprietary Limited [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Option payment	$ 250,000
Selebi Net Smelter Return [Member] | Premium Nickel Resources Proprietary Limited [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royality percentage							2%	2%
Repayment future time payment							$ 20,000,000	$ 26,998,000
Selkirk Net Smelter Return [Member] | Premium Nickel Group Proprietary Limited [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royality percentage					1%	1%
Repayment future time payment					$ 2,000,000	$ 2,699,800

SCHEDULE OF FAIR VALUE OF WARRA

SCHEDULE OF FAIR VALUE OF WARRANTS (Details)	Jun. 21, 2024	Jun. 14, 2024
Measurement Input, Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0	0
Measurement Input, Share Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.84	0.81
Measurement Input, Price Volatility [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	83.71	83.17
Measurement Input, Risk Free Interest Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	3.30	3.23
Measurement Input, Expected Term [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	5	5

SCHEDULE OF FAIR VALUE OF WAR_2

SCHEDULE OF FAIR VALUE OF WARRANTS IN CONNECTION WITH FINANCING TRANSACTIONS (Details) - Non Transferable Broker Warrants [Member] - $ / shares	Jun. 28, 2023	Feb. 24, 2023
Class of Warrant or Right [Line Items]
Expected dividend yield	0%	0%
Stock price	$ 1.35	$ 1.73
Expected share price volatility	92.06%	77.52%
Risk free interest rate	4.13%	4.28%
Expected dividend yield	3 years	2 years

SUMMARY OF COMMON SHARE PURCHAS

SUMMARY OF COMMON SHARE PURCHASE WARRANT ACTIVITY (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Outstanding, beginning of the period	6,891,099	1,098,786
Outstanding, weighted average exercise price	$ 1.50	$ 1.96
Issued	36,281,409	6,595,448
Issued, weighted average exercise price	$ 1.10	$ 1.46
Exercised		(100,000)
Exercised, weighted average exercise price		$ (1.75)
Expired	(645,651)	(703,135)
Expired, weighted average exercise price	$ (2.05)	$ (1.80)
Outstanding, end of the period	42,526,857	6,891,099
Outstanding, weighted average exercise price	$ 1.15	$ 1.50

SCHEDULE OF DETAILS OF WARRANTS

SCHEDULE OF DETAILS OF WARRANTS OUTSTANDING (Details) - $ / shares	Sep. 30, 2024	Jun. 21, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Outstanding	42,526,857
Warrant exercise price		$ 1.10
Warrants Expiry Date February 24 2025 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Outstanding	221,448
Warrant exercise price	$ 1.75
Warrants Expiry Date June 28 2026 One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Outstanding	5,324,000
Warrant exercise price	$ 1.44
Warrants Expiry Date June 28 2026 Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Outstanding	700,000
Warrant exercise price	$ 1.44
Warrants Expiry Date June 14 2029 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Outstanding	20,259,614
Warrant exercise price	$ 1.10
Warrants Expiry Date June 21 2029 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants Outstanding	16,021,795
Warrant exercise price	$ 1.10

SCHEDULE OF OPTION ACTIVITY (De

SCHEDULE OF OPTION ACTIVITY (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercised	(278,100)
Stock Option Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding, beginning of the period	13,487,921	10,407,044
Outstanding, weighted average exercise price	$ 1.39	$ 1.10
Issued	3,110,000	3,833,277
Issued, weighted average exercise price	$ 1.10	$ 1.75
Exercised	(278,100)	(488,900)
Exercised, weighted average exercise price	$ (0.86)	$ (0.49)
Expired	(150,000)	(263,500)
Expired, weighted average exercise price	$ (1.75)	$ (2.40)
Outstanding, end of the period	16,169,821	13,487,921
Outstanding, weighted average exercise price	$ 1.34	$ 1.39

SCHEDULE OF FAIR VALUE OF STOCK

SCHEDULE OF FAIR VALUE OF STOCK OPTION GRANTED (Details) - Stock Option Plan [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0%	0%
Expected forfeiture rate	0%	0%
Expected share price volatility	117.60%	87.92%
Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk free interest rate	2.91%	4.28%
Expected life of options	2 years 6 months	3 years
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Risk free interest rate	3.23%	4.68%
Expected life of options	3 years 6 months	4 years

SCHEDULE OF DETAILS OF OPTIONS

SCHEDULE OF DETAILS OF OPTIONS OUTSTANDING (Details) - Stock Option Plan [Member] - $ / shares	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	16,169,821	13,487,921	10,407,044
Options Exercisable	11,640,869
Options With Expiry Date February 24 2025 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	660,000
Options Exercisable	660,000
Exercise Price	$ 0.80
Options With Expiry Date August 19 2025 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	240,000
Options Exercisable	240,000
Exercise Price	$ 0.45
Options With Expiry Date January 26 2026 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	3,320,100
Options Exercisable	3,320,000
Exercise Price	$ 0.39
Options With Expiry Date February 25 2026 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	495,000
Options Exercisable	495,000
Exercise Price	$ 1.60
Options With Expiry Date September 29 2026 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	1,185,750
Options Exercisable	1,185,750
Exercise Price	$ 0.91
Options With Expiry Date October 25 2026 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	998,794
Options Exercisable	998,794
Exercise Price	$ 2
Options With Expiry Date January 20 2027 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	2,476,900
Options Exercisable	2,476,900
Exercise Price	$ 2.40
Options With Expiry Date August 8 2028 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	3,683,277
Options Exercisable	1,227,759
Exercise Price	$ 1.75
Options With Expiry Date August 14 2029 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options Outstanding	3,110,000
Options Exercisable	1,036,666
Exercise Price	$ 1.10

SCHEDULE OF DSU GRANTED (Detail

SCHEDULE OF DSU GRANTED (Details) - CAD ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value movement of deferred shares units		$ 153,304	$ (36,355)	$ 473,820	$ 5,476
Deferred Share Unit Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
DSUs outstanding at the beginning shares				730,975	200,000	200,000
DSUs outstanding at the beginning	[1]			$ 1.21	$ 1.49	$ 1.49
DSUs outstanding at the beginning				$ 884,481	$ 298,000	$ 298,000
Granted				1,116,269		600,951
Granted	[1]			$ 0.79		$ 1.33
Granted				$ 882,410		$ 798,122
Redeemed						(69,976)
Redeemed	[1]					$ 1.19
Redeemed						$ (83,527)
Fair value movement of deferred shares units
Fair value movement of deferred shares units				$ (473,820)		$ (128,114)
DSUs outstanding at the ending shares		1,847,244		1,847,244		730,975
DSUs outstanding at the ending	[1]	$ 0.70		$ 0.70		$ 1.21
DSUs outstanding at the ending		$ 1,293,071		$ 1,293,071		$ 884,481
[1]Under 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 or redemption date.

SHARE CAPITAL, WARRANTS AND O_3

SHARE CAPITAL, WARRANTS AND OPTIONS (Details Narrative) - CAD ($)					3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 21, 2024	Dec. 14, 2023	Jun. 28, 2023	Feb. 24, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Jun. 14, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common shares, shares authorized							Unlimited		Unlimited
Preferred stock, shares authorized					100,000,000		100,000,000
Exercise of options							278,100
Warrant exercise price	$ 1.10
Share price	$ 2
Class of warrant or right redemption of warrants or rights threshold trading days	20 days
Class of warrant or right redemption of warrants or rights threshold consecutive trading days	30 days
Issuance of warrants,shares	1,025,000
Advisory fee	$ 250,000
Fair value of warrants	12,533,135
Proceeds from shares and warrants	27,499,999
Share issuance costs	250,000
Issuance of warrants,shares	$ 1,087,755
Proceeds from issuance of units			$ 16,249,200				$ 27,499,999	$ 23,814,272
Cash commission paid							$ 295,578	1,818,956
Proceeds from financing transactions			$ 33,999,200
Number of common shares issued					185,708,588		185,708,588		149,300,920
Derivative liabilities					$ 1,293,071		$ 1,293,071		$ 884,481
Stock Option Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Exercise of options							278,100		488,900
Term of options							5 years		5 years
Shares granted							3,110,000		3,833,277
Exercise price							$ 1.10		$ 1.75
Share based compensation					933,619		$ 1,712,843
Deferred Share Unit Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share based compensation					164,193	$ 252,119	408,590	$ 558,524
Derivative liabilities					$ 1,293,071		$ 1,293,071		$ 884,481
Maximum [Member] | Stock Option Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares authorized					27,100,000		27,100,000
Term of options							10 years
Edgepoint Investment Group Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issued price per share			$ 1.10
Proceeds from issuance of units			$ 16,249,200
Number of units issued			14,772,000
Each unit of common share			1
Non Transferable Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares exercisable for each warrant	1,025,000
Warrant exercise price			$ 1.4375
Issuance of warrants,shares			2,000,000
Issuance of warrants,shares			$ 1,435,350
Transferable Warrants [Member] | Edgepoint Investment Group Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant exercise price			$ 1.4375
Fair value of warrants			$ 1,898,349
Warrants issued on number of common shares purchase			22.50%
Number of warrants in a unit			1
Number of warrants issuable			3,324,000
Warrants term			3 years
Private Placement [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares exercisable for each warrant										19,234,614
Share and warrant per unit										$ 0.78
Proceeds from share and warrant										$ 15,002,999
Private Placement [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares exercisable for each warrant	16,021,795
Proceeds from share and warrant	$ 12,497,000
Brokered Private Placement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued		1,265,800		4,437,184
Share issuance costs			$ 240,596
Issued price per share		$ 1.20		$ 1.75
Proceeds from issuance of units		$ 15,760,040		$ 7,765,072
Cash commission paid		796,983	812,460	$ 473,383
Legal fees			$ 736,067
Proceeds from financing transactions		$ 21,642,393
Number of common shares issued		13,133,367
Brokered Private Placement [Member] | Non Transferable Broker Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares exercisable for each warrant				1
Warrant exercise price				$ 1.75
Number of warrants issued				221,448
Fair value of warrants				$ 167,939
Legal fees				$ 133,164
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common share issued							126,259
Exercise of options							126,259
Number of shares issued	1,025,000						36,281,409	19,209,184

SCHEDULE OF RELATED PARTY TRANS

SCHEDULE OF RELATED PARTY TRANSACTIONS (Details) - CAD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Other liabilities, current	$ 24,667		$ 93,795
Directors And Officers [Member]
Related Party Transaction [Line Items]
Other liabilities, current	24,667		$ 93,795
Related Party [Member]
Related Party Transaction [Line Items]
Key management compensation	4,019,610	$ 3,237,974
Related Party [Member] | Management Fees [Member]
Related Party Transaction [Line Items]
Key management compensation	2,596,401	2,679,450
Related Party [Member] | Granted Net Of Fair Value Movements [Member]
Related Party Transaction [Line Items]
Key management compensation	408,590	558,524
Related Party [Member] | Share Based Payment [Member]
Related Party Transaction [Line Items]
Key management compensation	$ 1,014,619

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - CAD ($)			3 Months Ended		9 Months Ended
	Dec. 14, 2023	Jun. 28, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 21, 2024	Jun. 14, 2024
Related Party Transaction [Line Items]
Issued an additional shares							1,025,000
Warrant exercise price							$ 1.10
Proceeds from issuance of common stock		$ 16,249,200			$ 27,499,999	$ 23,814,272
Edge Point [Member]
Related Party Transaction [Line Items]
Number of common shares issued					23,833,224
Related party shares issued and outstanding percentage					12.80%
Issued an additional shares			13,716,307		13,716,307
Percentage of ownership interest held by related party			18.80%		18.80%
Number of common shares issued			1,389,140		1,389,140			7,692,307
Share and warrant per unit								$ 0.78
Proceeds from share and warrant								$ 6,000,000
Ownership percentage					20%
Proceeds from issuance of common stock					$ 1,083,529
Financing Parties [Member]
Related Party Transaction [Line Items]
Number of common shares issued	16,037,800	16,037,800
Related party shares issued and outstanding percentage	10.70%	10.70%
Issued an additional shares	6,024,000	6,024,000
Warrant exercise price	$ 1.4375	$ 1.4375
Percentage of ownership interest held by related party	14.20%	14.20%
Interest paid			$ 524,912	$ 390,411	$ 1,563,324	$ 390,411

SCHEDULE OF RISK MANAGEMENT (De

SCHEDULE OF RISK MANAGEMENT (Details)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 BWP (P)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 BWP (P)
Short Term Exposure Risk [Member]
Financial assets	$ 1,746,290	P 1,495,375	$ 2,576,180	P 755,386
Financial liabilities	(1,637,329)	(2,190,746)	(501,458)	(4,851,201)
Total exposure	$ 108,961	(695,371)	$ 2,074,722	(4,095,815)
Long Term Exposure Risk [Member]
Financial assets		70,525,700		54,082,922
Financial liabilities		(1,240,006)		(3,508,714)
Total exposure		P 69,285,694		P 50,574,208

SENSITIVITY ANALYSIS FOR EFFECT

SENSITIVITY ANALYSIS FOR EFFECT OF FOREIGN CURRENCY CHANGES (Details)	9 Months Ended			12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 CAD ($)	Sep. 30, 2024 BWP (P)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 BWP (P)
Canadian Dollar Strengthened Against United States Dollar [Member]
Change in exchange rate	5%	5%	5%
Loss for the year	$ 5,448	$ (29,321)	P (34,769)	$ 103,736	$ (101,055)	P (204,791)
Long term exposure loss for the year			P 3,464,285			2,528,710
Canadian Dollar Weakened Against United states Dollar [Member]
Change in exchange rate	5%	5%	5%
Loss for the year	$ (5,448)	$ 29,321	P 34,769	$ (103,736)	$ 101,055	204,791
Long term exposure loss for the year			P (3,464,285)			P (2,528,710)

SCHEDULE OF CONTRACTUAL OBLIGAT

SCHEDULE OF CONTRACTUAL OBLIGATIONS (Details)	Sep. 30, 2024 CAD ($)
Short-Term Debt [Line Items]
Less than 1 year	$ 7,702,283
1 - 2 years	22,585,458
2 - 5 years	109,309
Total	30,397,050
Trade Payables and Accrued Liabilities [Member]
Short-Term Debt [Line Items]
Less than 1 year	4,904,635
1 - 2 years
2 - 5 years
Total	4,904,635
Vehicle Financing [Member]
Short-Term Debt [Line Items]
Less than 1 year	34,232
1 - 2 years	136,929
2 - 5 years	109,309
Total	280,470
Term Loan [Member]
Short-Term Debt [Line Items]
Less than 1 year	2,088,235
1 - 2 years	22,448,529
2 - 5 years
Total	24,536,764
Lease Liabilities [Member]
Short-Term Debt [Line Items]
Less than 1 year	675,181
1 - 2 years
2 - 5 years
Total	$ 675,181

SCHEDULE OF CAPITAL RISK MANAGE

SCHEDULE OF CAPITAL RISK MANAGEMENT (Details) - CAD ($)	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Short-Term Debt [Line Items]
Shareholder’s equity	$ 7,718,897	$ 18,665,572	$ 9,745,686	$ 4,456,305	$ 12,524,842	$ 3,942,989
Vehicle financing	280,470		236,124
Lease liabilities	675,181		1,611,143
Term Loan	18,710,277		17,956,423
Capital Gross Amount	27,384,825		29,549,376
Cash and cash equivalents	(17,358,377)		(19,245,628)
Capital Net of Cash	10,026,448		10,303,748
Vehicle Financing [Member]
Short-Term Debt [Line Items]
Vehicle financing	280,470		236,124
Term Loan [Member]
Short-Term Debt [Line Items]
Term Loan	$ 18,710,277		$ 17,956,423

SCHEDULE OF INFORMATION ABOUT C

SCHEDULE OF INFORMATION ABOUT COMPANY'S GEOGRAPHIC SEGMENTS (Details) - CAD ($)	Sep. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Current assets	$ 20,672,509	$ 20,890,908
Property, plant and equipment	7,764,047	8,488,499
Exploration and evaluation assets	8,855,512	8,594,798	$ 8,578,627
Canada Segment [Member]
Segment Reporting Information [Line Items]
Current assets	16,175,522	15,894,177
Property, plant and equipment	7,481	8,726
Barbados Segment [Member]
Segment Reporting Information [Line Items]
Current assets	338,247	104,024
Botswana Segment [Member]
Segment Reporting Information [Line Items]
Current assets	4,158,740	4,892,707
Property, plant and equipment	7,756,566	8,479,773
Exploration and evaluation assets	$ 8,855,512	$ 8,594,798

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details Narrative)	9 Months Ended
	Sep. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	3

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
General And Administrative Expenses
Advisory and consultancy	$ 74,005	$ 119,072	$ 251,991	$ 705,956
Filing fees	189,783	25,378	460,485	256,929
General office expenses	508,035	413,145	1,232,215	969,768
Insurance	157,781	170,778	486,456	551,791
Investor relations	185,027	137,392	472,244	422,754
Management fee	670,389	865,446	2,239,889	2,496,109
Professional fees	347,303	21,539	962,827	664,228
Salaries and benefits	181,950	183,390	550,975	183,390
Total	$ 2,314,273	$ 1,936,140	$ 6,657,082	$ 6,250,925

GENERAL AND ADMINISTRATIVE EX_4

GENERAL AND ADMINISTRATIVE EXPENSES (Details Narrative) - CAD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
General And Administrative Expenses
[custom:GeneralAndAdministrativeExpenses]	$ 2,708,304
Other General Expense		$ 2,694,115

SCHEDULE OF THE MOVEMENTS IN RE

SCHEDULE OF THE MOVEMENTS IN RELATION TO SPARE PARTS (Details) - CAD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Spare parts, beginning of the period	$ 212,135
Additions	1,110,663	212,135
Utilization	(120,342)
Foreign currency translation	(401)
Spare parts, beginning of the period	$ 1,202,055	$ 212,135

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - CAD ($)	Oct. 29, 2024	Oct. 17, 2024	Jun. 21, 2024
Subsequent Event [Line Items]
Share Price			$ 2
Subsequent Event [Member]
Subsequent Event [Line Items]
Share Price		$ 1.25
Number of tranches vested		100,000
Subsequent Event [Member] | RSU Plan [Member]
Subsequent Event [Line Items]
Market price	$ 0.60
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 600,000
Subsequent Event [Member] | RSU Plan [Member] | Shareholders [Member]
Subsequent Event [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	1,000,000
Market price	$ 0.76
Subsequent Event [Member] | RSU Plan [Member] | Maximum [Member]
Subsequent Event [Line Items]
Share capital issued through private placement, shares	5,000,000
Shares exceed percentage	20%
Subsequent Event [Member] | Altitude Capital Partners Inc [Member]
Subsequent Event [Line Items]
Stock options, granted		1,200,000
Stock options		The options will have an exercise price of $1.25 per Common Share for a period of five years from the date of grant and vest in equal monthly tranches of 100,000 options, commencing October 15, 2024 until the earlier of September 15, 2025 and the date the engagement is terminated.