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NV 30-0692325 431 Crown Point Circle, Suite 150 Grass Valley 95945 530 271-0679 No No Yes Yes true false Non-accelerated Filer false false false 18417993 127668837 Davidson & Company LLP Vancouver, BC Canada 731 <div> Risk Management and Strategy We have policies and processes for assessing, identifying, and managing material risk from cybersecurity threats and have integrated these processes into our overall risk management systems and processes. We assess material risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein. We conduct periodic risk assessments to identify cybersecurity threats, as well as assessments in the event of a material change in our business practices that may affect information systems that are vulnerable to such cybersecurity threats. These risk assessments include identification of reasonably foreseeable internal and external risks, the likelihood and potential damage that could result from such risks, and the sufficiency of existing policies, procedures, systems, and safeguards in place to manage such risks. </div> We have policies and processes for assessing, identifying, and managing material risk from cybersecurity threats and have integrated these processes into our overall risk management systems and processes. true <div> <div> Governance </div> <div> <div> One of the key functions of our Board of Directors is informed oversight of our risk management process, including risks from cybersecurity threats. Our Board is responsible for monitoring and assessing strategic risk exposure, and management is responsible for the day-to-day management of any material risks that may arise. We do not believe that there are currently any known risks from cybersecurity threats that are reasonably likely to materially affect us or our business strategy, results of operations, or financial condition. </div> </div> </div> <div> <div> One of the key functions of our Board of Directors is informed oversight of our risk management process, including risks from cybersecurity threats. Our Board is responsible for monitoring and assessing strategic risk exposure, and management is responsible for the day-to-day management of any material risks that may arise. We do not believe that there are currently any known risks from cybersecurity threats that are reasonably likely to materially affect us or our business strategy, results of operations, or financial condition. </div> </div> One of the key functions of our Board of Directors is informed oversight of our risk management process, including risks from cybersecurity threats. Our Board is responsible for monitoring and assessing strategic risk exposure, and management is responsible for the day-to-day management of any material risks that may arise. true <div> Cybersecurity Threats As of July 31, 2026, we have not identified an indication of a cybersecurity incident that would have a material impact on our business and consolidated financial statements. For further discussion of cybersecurity risks, please refer to Item 1A. Risk Factors. </div> false

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<div> 1. NATURE AND CONTINUANCE OF OPERATIONS Rise Gold Corp. (the "Company") was originally incorporated as Atlantic Resources Inc. in the State of Nevada on February 9, 2007, and is an exploration stage company. On April 11, 2012, the Company merged with its wholly owned subsidiary, Patriot Minefinders Inc., a Nevada corporation, to effect a name change to Patriot Minefinders Inc. On January 14, 2015, the Company completed a name change to Rise Resources Inc. in the same manner. On March 29, 2017, the Company changed its name to Rise Gold Corp. These mergers were carried out solely for the purpose of effecting these changes of names. On September 18, 2020, the Company increased its authorized capital from 40,000,000 shares to 400,000,000 shares. On January 29, 2016, the Company completed an initial public offering in Canada and began trading on the Canadian Securities Exchange ("CSE") on February 1, 2016. The Company is in the early stages of exploration and as is common with any exploration company, it raises financing for its acquisition activities. The accompanying consolidated financial statements have been prepared on the going concern basis, which presumes that the Company will continue operations for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a loss of $4,249,888 for the year ended July 31, 2026 and has accumulated a deficit of $37,744,863. The ability of the Company to continue as a going concern is dependent on the Company's ability to maintain continued support from its shareholders and creditors and to raise additional capital and implement its business plan. There is no assurance that the Company will be able to obtain adequate financing in the future or that such financing will be on terms advantageous to the Company. Based on working capital at July 31, 2026, management estimates that it does have sufficient funds to continue operations for the ensuing 12 months from the issuance date of these financial statements. At July 31, 2026, the Company had working capital surplus of $7,575,505 (July 31, 2025 - working capital surplus of $1,930,258). </div>

40000000

400000000

-4249888

-37744863

7575505 1930258

2. BASIS OF PREPARATION Generally accepted accounting principles These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America (“U.S. GAAP”) for financial information and with the instructions to Form 10-K and the applicable SEC rules regarding financial reporting. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Basis of Consolidation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Rise Grass Valley Inc. All significant intercompany accounts and transactions have been eliminated on consolidation. Subsidiaries Subsidiaries are all entities over which the Company has exposure to variable returns from its involvement and has the ability to use power over the investee to affect its returns. The existence and effect of potential voting rights that are currently exercisable or convertible are considered when assessing whether the Company controls another entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company until the date on which control ceases. The accounts of subsidiaries are prepared for the same reporting period as the parent company, using consistent accounting policies. Intercompany transactions, balances and unrealized gains or losses on transactions are eliminated upon consolidation. Use of Estimates The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties and the recognition of deferred tax assets based on the change in unrecognized deductible temporary tax differences. Actual results could differ from those estimates and would impact future results of operations and cash flows. Functional and reporting currency The Company and its wholly owned subsidiary, Rise Grass Valley Inc. functional and reporting currency is the United States dollar. Transactions in currencies other than the functional currency of the Company are initially translated into the functional currency by applying the exchange rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate prevailing at the date of the statement of balance sheets. Non-monetary assets and liabilities are translated at historical exchange rates, unless the item is carried at fair value, in which case it will be translated at the exchange rate in effect at the date when the fair value was determined. Resulting foreign exchange gains and losses are recognized in income or loss.

Functional and reporting currency The Company and its wholly owned subsidiary, Rise Grass Valley Inc. functional and reporting currency is the United States dollar. Transactions in currencies other than the functional currency of the Company are initially translated into the functional currency by applying the exchange rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate prevailing at the date of the statement of balance sheets. Non-monetary assets and liabilities are translated at historical exchange rates, unless the item is carried at fair value, in which case it will be translated at the exchange rate in effect at the date when the fair value was determined. Resulting foreign exchange gains and losses are recognized in income or loss.

3. SIGNIFICANT ACCOUNTING POLICIES <div> Receivables and note receivable The Company reviews all receivables that exceed terms and establishes an allowance for doubtful accounts based on management's assessment of the collectability of trade and other receivables. Note receivable is valued at market rate of interest. </div> Mineral property The costs of acquiring mineral rights are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset. Long-lived assets Long-lived assets, consisting of equipment held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Equipment Equipment is recorded at cost less accumulated depreciation. Depreciation is provided over the assets' useful lives on a straight-line basis. Equipment purchased by the Company is depreciated over 15 years. Asset retirement obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost). <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Loss per share Basic loss per common share is computed using the weighted average number of common shares outstanding during the year. To calculate diluted loss per share, the Company adjusts net income (loss) attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares such as stock options and warrants. As at July 31, 2026, 7,293,970 outstanding options, 365,854 outstanding deferred share units, and 74,640,162 outstanding warrants were excluded from the diluted calculation. In reporting periods when a loss is incurred, potential issuance of shares would be anti-dilutive and, therefore, basic and diluted loss per share are the same. Financial instruments The Company's financial instruments consist of cash, receivables, note receivable, accounts payable and accrued liabilities, and payable to related parties. It is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The fair values of these financial instruments approximate their carrying values unless otherwise noted. <div> Fair value of financial assets and liabilities The Company measures the fair value of financial assets and liabilities based on U.S. GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor's carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest rate method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. The following indicates the fair value hierarchy of the valuation techniques the Company utilizes to determine the fair value of financial assets that are measured at fair value on a recurring basis. Level 1 - Unadjusted quoted prices in active markets for identical assets and liabilities; Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and Level 3 - Inputs that are not based on observable market data. Cash and cash equivalents is considered level 1 and classified as cash on hand and held at banks. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Financial instruments, including payable to related parties and accounts payable are classified as other financial liabilities and are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. </div> <div> Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. </div> Stock-based compensation The Company accounts for share-based compensation under the provisions of ASC 718, "Compensation-Stock Compensation". Under the fair value recognition provisions, stock-based compensation expense is measured at the fair value of the consideration received, or the fair value of the equity instruments issued, or liabilities incurred, whichever is more reliably measured. Share-based compensation for all stock-based awards to employees and directors is recognized as an expense over the requisite service period, which is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value. Receivables and note receivable Receivables are initially measured at its fair value or transaction price, and subsequently measured at amortized cost. Note receivables are valued at market rate of interest. For notes receivable with cash flows of principal and interest, they are subsequently measured at amortized cost, which is the initial amount minus principal payments, plus the amortization of any discount or premium, using the effective interest method. Income taxes The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Current income taxes are recognized for the estimated income taxes payable or receivable on taxable income or loss from the current year and any adjustment to income taxes payable related to previous years. Current income taxes are determined using tax rates and laws that have been enacted or subsequently enacted by the year-end date. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or all of the deferred tax asset will not be recognized. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Recently issued accounting standards The following amendments to existing standards have been issued up to and including the date of issuance of these financial statements, however are not yet effective for the Company: Accounting Standards Update 2024-03, Income statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense. The amendments in this update requires public business entities to disclose, on an annual and interim basis, disaggregated information about certain income statement expense line items in the notes to the financial statements. Public business entities are required to apply the guidance prospectively and may elect to apply it retrospectively. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The Company is still evaluating the impact of implementing the above improvements to its consolidated financial statements. Recently adopted accounting standards Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted.

<div> Receivables and note receivable The Company reviews all receivables that exceed terms and establishes an allowance for doubtful accounts based on management's assessment of the collectability of trade and other receivables. Note receivable is valued at market rate of interest. </div>

P15Y

Loss per share Basic loss per common share is computed using the weighted average number of common shares outstanding during the year. To calculate diluted loss per share, the Company adjusts net income (loss) attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares such as stock options and warrants. As at July 31, 2026, 7,293,970 outstanding options, 365,854 outstanding deferred share units, and 74,640,162 outstanding warrants were excluded from the diluted calculation. In reporting periods when a loss is incurred, potential issuance of shares would be anti-dilutive and, therefore, basic and diluted loss per share are the same.

7293970

365854

74640162

<div> Fair value of financial assets and liabilities The Company measures the fair value of financial assets and liabilities based on U.S. GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor's carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest rate method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. The following indicates the fair value hierarchy of the valuation techniques the Company utilizes to determine the fair value of financial assets that are measured at fair value on a recurring basis. Level 1 - Unadjusted quoted prices in active markets for identical assets and liabilities; Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and Level 3 - Inputs that are not based on observable market data. Cash and cash equivalents is considered level 1 and classified as cash on hand and held at banks. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Financial instruments, including payable to related parties and accounts payable are classified as other financial liabilities and are carried at cost, which management believes approximates fair value due to the short-term nature of these instruments. </div>

<div> Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits however, the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. </div>

Income taxes The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Current income taxes are recognized for the estimated income taxes payable or receivable on taxable income or loss from the current year and any adjustment to income taxes payable related to previous years. Current income taxes are determined using tax rates and laws that have been enacted or subsequently enacted by the year-end date. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or all of the deferred tax asset will not be recognized.

Recently issued accounting standards The following amendments to existing standards have been issued up to and including the date of issuance of these financial statements, however are not yet effective for the Company: Accounting Standards Update 2024-03, Income statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense. The amendments in this update requires public business entities to disclose, on an annual and interim basis, disaggregated information about certain income statement expense line items in the notes to the financial statements. Public business entities are required to apply the guidance prospectively and may elect to apply it retrospectively. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The Company is still evaluating the impact of implementing the above improvements to its consolidated financial statements. Recently adopted accounting standards Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in this update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). This ASU is effective for fiscal years beginning after December 15, 2024, with early adoption permitted.

6984508

2783348

6610172

<div> 5. PREPAID EXPENSES <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-top: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;">July 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;">Insurance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; background-color: #e6efff;">71,209</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Deposits</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right;">175,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right;">63,399</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">Investor relations</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">6,875</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">10,875</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 1.5pt solid #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; border-bottom: 1.5pt solid #000000;">253,084</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 1.5pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 1.5pt solid #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; border-bottom: 1.5pt solid #000000;">74,274</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 1.5pt solid #000000;"> </td> </tr> </table> </div> </div>

71209

175000 63399 6875 10875

253084

74274

6. MINERAL PROPERTY INTERESTS The Company's mineral properties balance consists of: <div style="margin-left: 35.45pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 17.8pt; vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-indent: -12.4pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Idaho-Maryland, California</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; text-indent: 0.3pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">July 31, 2024</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,149,053</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify;">Proceeds from land contracted for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(3,951,554</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">July 31, 2025 and July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%; background-color: #e6efff;">197,499</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> Title to mineral properties Title to mineral properties involves certain inherent risks due to the difficulties of determining the validity of certain mineral titles as well as the potential for problems arising from the frequently ambiguous conveying history characteristic of many mineral properties. As at July 31, 2026, the Company holds title to the Idaho-Maryland Gold Mine Property. As of July 31, 2026, the management does not consider that there are events or changes in circumstances to indicate that the carrying amount of the asset group may not be recoverable. As of the date of these consolidated financial statements, the Company has not established any proven or probable reserves on its mineral properties and has incurred only acquisition and exploration costs. On August 30, 2016, the Company entered into an option agreement with three parties to purchase a 100% interest in and to the Idaho-Maryland Gold Mine property located near Grass Valley, California, United States. Pursuant to the option agreement, in order to exercise the option, the Company was required to pay $2,000,000 by November 30, 2016. Upon execution of the option agreement, the Company paid the vendors a non-refundable cash deposit in the amount of $25,000, which would be credited against the purchase price of $2,000,000 upon exercise of the option. On November 30, 2016, the Company negotiated an extension on the closing date of the option agreement to December 26, 2016, in return for a cash payment of $25,000, which would be credited against the purchase price of $2,000,000 upon exercise of the option. On December 28, 2016, the Company negotiated a further no-cost extension of the closing date of the option agreement to April 30, 2017. On January 25, 2017, the Company exercised the option by paying $1,950,000 and acquired a 100% interest in the Idaho-Maryland Gold Mine property. In connection with the option agreement, the Company agreed to pay a cash commission of $140,000 equal to 7% of the purchase price of $2,000,000. The commission was settled on January 25, 2017 through the issuance of 92,000 units valued at $1.16 (C$2.00) per unit. Each unit consisted of one share of common stock and one transferable share purchase warrant exercisable into one share of common stock at a price of $3.04 (C$4.00) for a period of two years from the date of issuance. The Company also incurred additional transaction costs of $109,053, which have been included in the carrying value of the Idaho-Maryland Gold Mine. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Idaho-Maryland Gold Mine Property, California On January 6, 2017, the Company entered into an option agreement with Sierra Pacific Industries Inc. ("Sierra") to purchase a 100% interest in and to certain surface rights located near Grass Valley, California, United States, contiguous to the Idaho-Maryland Gold Mine property acquired by the Company on January 25, 2017. Pursuant to the option agreement, in order to exercise the option, the Company was required to pay $1,900,000 by March 31, 2017. Upon execution of the option agreement, the Company paid the vendors a non-refundable cash deposit in the amount of $100,000, which was credited against the purchase price of $1,900,000 upon exercise of the option. On April 3, 2017, the Company negotiated an extension of the closing date of the option agreement to June 30, 2017, in return for a cash payment of $200,000, at which time a payment of $1,600,000 was due in order to exercise the option. On June 7, 2017, the Company negotiated an extension of the closing date of the option agreement to September 30, 2017, in return for a cash payment of $300,000, at which time a payment of $1,300,000 was due in order to exercise the option. On May 14, 2018, the Company completed the purchase of the surface rights by making final payments totalling $1,300,000. As at July 31, 2026, the Company has incurred cumulative exploration expenditures of $10,643,363 on the Idaho-Maryland Gold Mine property as follows: <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-bottom: 0pt; text-align: right; vertical-align: bottom; border-top: 2.25pt double #000000;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Year ended July 31, 2026 </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> Year ended July 31, 2025 </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; vertical-align: bottom; background-color: #e6efff;">Idaho-Maryland Gold Mine expenditures:</td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Opening balance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right;">9,636,334</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">9,539,814</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify;">Consulting</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">266,772</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">64,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; background-color: #e6efff;">Drilling contractors and fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">601,102</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify;">Geological</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">54,492</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Rent</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">28,524</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">28,473</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify;">Repairs and maintenance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">55,040</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Supplies and office</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,099</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">4,047</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; vertical-align: bottom;">Total expenditures for the year</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">1,007,029</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right;">96,520</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Closing balance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; border-bottom: 2.25pt double #000000;">10,643,363</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">9,636,334</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div> On October 1, 2024, the Company contracted to sell 66 acres of surface rights located adjacent to the Company's Idaho-Maryland Mine Property. <div style="margin-top: 0pt; margin-bottom: 0pt;"> </div> Idaho-Maryland Gold Mine Property, California The sale transaction is subject to two sale agreements with the same, arm's length third party. The first agreement covers 16 acres of land for total consideration of $1,800,000 and that contract closed on November 27, 2024 with the payment of half the sale price, minus certain deductions. The Company paid $816,941 of the proceeds towards the Eridanus loan. The other half of the purchase price ($900,000) is due on November 27, 2026. The buyer will pay monthly interest at an annual rate of 5% per year on the balance of the purchase price until it is paid in full. The $900,000 note receivable, which was secured by surface rights, had a fair value of $851,852 on November 27, 2024, calculated based on an estimated 8% market interest rate. On January 14, 2025, the Company and the buyer negotiated a discounted, accelerated payment whereby the Company received $702,000 in settlement of the second $900,000 payment due in November 2026. The carrying value of the note receivable on settlement date was $857,727, resulting in a loss on settlement of $155,727. The second sale agreement covers 50 acres of land for total sale price of $2,500,000 and closed on May 27, 2025, at which point half of the sale price was paid, with the other half due on May 27, 2027. The buyer paid $12,500 per month until closing, with the payments applied against the purchase price. Commencing on the closing date, the buyer will pay monthly interest at an annual rate of 5% per year on the balance of the purchase price until it is paid in full. Rise and the purchaser have also executed an option agreement whereby the Company may repurchase the 66 acres of land being sold for the sale price plus the cost of any capital improvements plus an increase of five percent per year on the condition that Rise acquires final government approvals to perform mining operations at the I-M Mine Property. At July 31, 2026 the following is the continuity of the $1,250,000 note receivable: <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 60%; border-collapse: collapse; font-size: 10pt; border: 1px solid #000000;"> <tr> <td style="width: 78%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> Discounted fair value on May 27, 2025 </td> <td style="width: 21%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000;"> $ 1,183,128 </td> </tr> <tr> <td style="width: 78%; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> Interest income earned to July 31, 2025 </td> <td style="border-left: 0.75pt solid #000000; width: 21%; vertical-align: top; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> $ 5,573 </td> </tr> <tr> <td style="width: 78%; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> Balance at July 31, 2025 </td> <td style="border-left: 0.75pt solid #000000; width: 21%; vertical-align: top; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> $ 1,188,701 </td> </tr> <tr> <td style="width: 78%; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> Interest income earned to July 31, 2026 </td> <td style="border-left: 0.75pt solid #000000; width: 21%; vertical-align: top; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> $ 33,436 </td> </tr> <tr> <td style="width: 78%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000;"> Balance at July 31, 2026 </td> <td style="width: 21%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000;"> $ 1,222,137 </td> </tr> </table> </div> The estimated market interest rate used to discount the note receivable secured by the surface rights was 8%.

<div style="margin-left: 35.45pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 17.8pt; vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-indent: -12.4pt;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Idaho-Maryland, California</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; text-indent: 0.3pt;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;">July 31, 2024</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">4,149,053</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: justify;">Proceeds from land contracted for sale</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%;">(3,951,554</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">July 31, 2025 and July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%; background-color: #e6efff;">197,499</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div>

4149053

3951554

197499

2000000

25000

2000000

25000

2000000

1950000

140000

0.07

2000000

92000

1.16

3.04

109053

1900000

100000

1900000

200000

1600000

300000

1300000

10643363

<div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-bottom: 0pt; text-align: right; vertical-align: bottom; border-top: 2.25pt double #000000;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap; margin-top: 0pt; margin-bottom: 0pt;"> Year ended July 31, 2026 </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> Year ended July 31, 2025 </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; vertical-align: bottom; background-color: #e6efff;">Idaho-Maryland Gold Mine expenditures:</td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: center; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;">Opening balance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right;">9,636,334</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%;">9,539,814</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: right; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify;">Consulting</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">266,772</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">64,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; background-color: #e6efff;">Drilling contractors and fees</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">601,102</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify;">Geological</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">54,492</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Rent</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">28,524</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">28,473</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify;">Repairs and maintenance</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">55,040</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 15pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Supplies and office</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,099</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">4,047</td> <td style="vertical-align: bottom; text-align: left; width: 2%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; vertical-align: bottom;">Total expenditures for the year</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: right; width: 12%;">1,007,029</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: left; width: 2%;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right;">96,520</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Closing balance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 12%; text-align: right; border-bottom: 2.25pt double #000000;">10,643,363</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000;"> </td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">9,636,334</td> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> </table> </div>

9636334

9539814

266772 64000 601102 0 54492 0 28524 28473 55040 0

1099

4047

1007029 96520

10643363

9636334

1800000

816941

900000

0.05

900000

851852

0.08

702000

900000

857727

-155727

2500000

12500

0.05

1250000

<div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 60%; border-collapse: collapse; font-size: 10pt; border: 1px solid #000000;"> <tr> <td style="width: 78%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000;"> Discounted fair value on May 27, 2025 </td> <td style="width: 21%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-bottom: 0.75pt solid #000000; border-left: 0.75pt solid #000000;"> $ 1,183,128 </td> </tr> <tr> <td style="width: 78%; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> Interest income earned to July 31, 2025 </td> <td style="border-left: 0.75pt solid #000000; width: 21%; vertical-align: top; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> $ 5,573 </td> </tr> <tr> <td style="width: 78%; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> Balance at July 31, 2025 </td> <td style="border-left: 0.75pt solid #000000; width: 21%; vertical-align: top; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> $ 1,188,701 </td> </tr> <tr> <td style="width: 78%; vertical-align: top; border-right: 0.75pt solid #000000; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> Interest income earned to July 31, 2026 </td> <td style="border-left: 0.75pt solid #000000; width: 21%; vertical-align: top; border-bottom: 0.75pt solid #000000; padding-right: 5.03pt; padding-left: 5.03pt; border-top: 0.75pt solid #000000;"> $ 33,436 </td> </tr> <tr> <td style="width: 78%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-top: 0.75pt solid #000000; border-right: 0.75pt solid #000000;"> Balance at July 31, 2026 </td> <td style="width: 21%; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: top; border-top: 0.75pt solid #000000; border-left: 0.75pt solid #000000;"> $ 1,222,137 </td> </tr> </table> </div> 1183128

5573

1188701

33436

1222137

0.08

511530

100000

50000

-411530

100000

<div> 8. CONTINGENCY During the year ended July 31, 2014, the Company entered into a binding letter of intent ("LOI") with Wundr Software Inc. ("Wundr"). Under the terms of the LOI, the Company would acquire 100% of the issued and outstanding common shares of Wundr. Due to unforeseen circumstances, the Company did not complete the transactions contemplated in the LOI, which the Company announced had expired on January 10, 2014. On September 17, 2014, the Company learned that it was the subject, along with a number of additional defendants, of a notice of civil claim (the "Claim") filed in the Supreme Court of British Columbia by Wundr, under which Wundr is seeking general damages from the Company as well as damages for conspiracy to cause economic harm. None of the allegations contained in the Claim have been proven in court. Management has determined that the probability of the Claim resulting in an unfavourable outcome and financial loss to the Company is unlikely. In September 2024, the Company received a notice from the Community Environmental Advocates Foundation ("CEA") of intent to file a citizen suit against the Company for alleged violations of the Clean Water Act. The Company was not served with a summons and complaint filed in the citizen suit, and the Company was dismissed. The citizen suit proceeds, however, against Rise Grass Valley, Inc., the subsidiary of the Company. On May 18, 2026, the District Court for the Eastern District of California entered an Order granting Summary Judgment as to liability against Rise Grass Valley, Inc. Trial on remaining issues in the lawsuit is scheduled for July 12, 2027. Litigation is ongoing. Rise Grass Valley, Inc. denies all allegations made in the citizen suit. Management has determined that no estimate of a loss event can be determined at this time in connection with the notice. </div>

112283

205700 132000

109167

90000

64539

76712

53474

1015789

685983

20000

187801

1080000

270000

9904196

812144

1000000

375000

<div> <table cellpadding="0" cellspacing="0" style="width: 70%; font-size: 10pt; border-collapse: collapse; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; white-space: nowrap;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; white-space: nowrap;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; white-space: nowrap;">Loan Payable</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; white-space: nowrap;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2023</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,437,914</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">299,228</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">120,918</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Repayment</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">(200,000</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2024</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">1,658,060</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">179,759</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">139,667</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Issuance costs</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(154,351</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Loss on settlment of loan</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">24,089</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Repayment</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">(1,847,224</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2025 and July 31, 2026</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div>

1437914

299228

120918

200000

1658060

179759

139667

154351

24089

1847224

1000000

P4Y

an annual interest rate of 10% for the first two years increasing to 20% in year 3 and to 25% in year 4. Interest will accrue and be paid along with the principal upon the maturity date.

0.10

0.20

0.25

P4Y

1150000

444942 15000 459942

0.8

200000 250000

575000

The maturity date of the Eridanus loan has been extended by one year to September 4, 2024 and the interest rate has been reduced to 15% compounding monthly for a period of 12 months after which it reverts to 25% per annum, compounding monthly. The renegotiation of the debt was accounted for as a non - substantial debt modification. Accordingly, no gain or loss was recorded and a new effective interest rate of 32.67% was established based on the carrying value of the debt and the revised cash flow. Each warrant entitles the holder to acquire one share at an exercise price of $0.60 for a period of two years from the date of issuance. The fair value of these warrants was calculated to be $154,218 which was netted against the loan payable balance.

0.15

0.25

0.3267

0.6

154218

0.15

0.10 1700000

0.115

P4Y 154351

<div> <table cellpadding="0" cellspacing="0" style="width: 70%; border-collapse: collapse; font-size: 10pt; margin-left: auto; margin-right: auto;"> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 77.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> September 12, 2024</td> </tr> <tr> <td style="width: 43%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;"> </td> </tr> <tr> <td style="width: 50%; vertical-align: top; text-align: justify; background-color: #e6efff; margin-top: 0pt; margin-bottom: 0pt;"> Risk-free interest rate </td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; text-align: justify; background-color: #e6efff;">2.72%</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Expected life of warrants</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">4 years</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">133.99%</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Share price at grant date</td> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 40pt; padding-right: 5.4pt;">$0.11</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Exercise price</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">$0.115</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Fair value</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.091</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Dividend</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">Nil</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;">Forfeiture rate</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; border-bottom: 2.25pt double #000000;">0%</td> </tr> </table> </div>

0.0272

1.3399

0.11

0.115

0.091

500000

P4Y

0.15

2882514

0.1735

P4Y 334423

<table cellpadding="0" cellspacing="0" style="width: 70%; font-size: 10pt; border-collapse: collapse; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff; border-top: 0.75pt solid #000000;">Balance, July 31, 2024</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff; border-top: 0.75pt solid #000000;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff; border-top: 0.75pt solid #000000;">-</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Proceeds</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">500,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">47,346</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">45,573</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Issuance costs</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(334,423</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Loss on settlement of loan</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">288,850</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Repayment</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(547,346</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Balance, July 31, 2025 and July 31, 2026</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">-</td> </tr> </table>

500000

47346

45573

334423

288850

547346

<div> <table cellpadding="0" cellspacing="0" style="width: 70%; border-collapse: collapse; font-size: 10pt; margin-left: auto; margin-right: auto;"> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 77.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> October 10, 2024</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top;"> </td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">2.98%</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Expected life of warrants</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">4 years</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; background-color: #e6efff; padding-left: 40pt; padding-right: 5.4pt;">139.40%</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Share price at grant date</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.14</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Exercise price</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">$0.1735</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Fair value</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.116</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Dividend</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">Nil</td> </tr> <tr> <td style="width: 50%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;">Forfeiture rate</td> <td style="width: 43%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; border-bottom: 2.25pt double #000000;">0%</td> </tr> </table> </div>

0.0298

1.394

0.14

0.1735

0.116

<div> 11.CREDIT FACILITY On February 6, 2024, the Company entered into a revolving credit facility arrangement with an arm's length lender that also provides services to the Company. Pursuant to the arrangement, each month, the lender will defer and add to the loan principal an amount equal to half of the fees billed by the lender up to $1,000,000. Amounts loaned will bear interest at a rate of 12% per annum compounded annually and will be due four years from the date of the arrangement. The Company may repay any amounts owing under the credit facility at any time without penalty. In connection with the credit facility, the Company has issued 1,000,000 non-transferable share purchase warrants to the lender, with each warrant exercisable into one share of common stock of the Company at a price of $0.16 per share for a period of four years from the date of issuance. The fair value of these warrants was calculated to be $127,336. In addition, for each $100,000 loaned under the arrangement, the Company has agreed to issue to the lender 200,000 additional non-transferable warrants ("Additional Warrants"). Each Additional Warrant will be exercisable into one share of common stock of the Company at any time within a four-year period from the date of issuance at an exercise price equal to the market price of the shares of the Company on grant. <div> </div> In December 2025, the Company agreed with the lender to cancel the credit facility and paid the outstanding balance. <div> The following are the continuity schedules of the Credit Facility and Deferred Financing asset <div> <div> <table cellpadding="0" cellspacing="0" style="width: 80%; font-size: 10pt; border-collapse: collapse; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2024</td> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">116,130</td> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Reclassification to accounts payable</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(63,796</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Principal amount</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">58,031</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">5,008</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Issuance costs</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(31,610</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Accretion expense</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">45,238</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2025</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">129,001</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Principal amount</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">95,182</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">3,915</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Issuance costs</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(8,018</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">8,018</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Repayment upon cancellation of credit facility</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">(228,098</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2026</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: left; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: 0.75pt solid #000000;">Deferred Financing Asset</td> <td style="vertical-align: bottom; text-align: left; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2024</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">111,707</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Allocation to credit facility</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right;">(36,079</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2025</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">75,628</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right;">(8,018</td> <td style="vertical-align: bottom; text-align: left;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Impairment of deferred financing asset</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; background-color: #e6efff;">(67,610</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Balance, July 31, 2026</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div> </div> The following weighted average assumptions were used for the Black-Scholes pricing model valuation of warrants: <table cellpadding="0" cellspacing="0" style="width: 70%; border-collapse: collapse; font-size: 10pt; margin-left: auto; margin-right: auto;"> <tr> <td style="width: 42%; padding-right: 5.4pt; padding-left: 77.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> February 5, 2024</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">3.67%</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Expected life of warrants</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">4 years</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 40pt; padding-right: 5.4pt; background-color: #e6efff;">122.71%</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Share price at grant date</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.16</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Exercise price</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">$0.16</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Fair value</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.13</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Dividend</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">Nil</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;">Forfeiture rate</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; border-bottom: 2.25pt double #000000;">0%</td> </tr> </table> 400,000 additional warrants are yet to be issued to the lender pursuant to the agreement. </div>

1000000

0.12

1000000

0.16

127336 In addition, for each $100,000 loaned under the arrangement, the Company has agreed to issue to the lender 200,000 additional non-transferable warrants ("Additional Warrants").

<div> <div> <table cellpadding="0" cellspacing="0" style="width: 80%; font-size: 10pt; border-collapse: collapse; border-color: #000000; margin-left: auto; margin-right: auto;"> <tr> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2024</td> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">116,130</td> <td style="border-top: 1px solid #000000; border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Reclassification to accounts payable</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(63,796</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Principal amount</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">58,031</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">5,008</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Issuance costs</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(31,610</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Accretion expense</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">45,238</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2025</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">129,001</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Principal amount</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">95,182</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Interest expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">3,915</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Issuance costs</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(8,018</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; background-color: #e6efff;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">8,018</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Repayment upon cancellation of credit facility</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">(228,098</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2026</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">-</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; text-align: left; white-space: nowrap;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="vertical-align: bottom; text-align: right; white-space: nowrap; border-bottom: 0.75pt solid #000000;">Deferred Financing Asset</td> <td style="vertical-align: bottom; text-align: left; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2024</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">111,707</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Allocation to credit facility</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right;">(36,079</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Balance, July 31, 2025</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">75,628</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: left;">Accretion expense</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right;">(8,018</td> <td style="vertical-align: bottom; text-align: left;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">Impairment of deferred financing asset</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; background-color: #e6efff;">(67,610</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; background-color: #e6efff;">)</td> </tr> <tr> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left;">Balance, July 31, 2026</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 1%;">$</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: right; width: 12%;">-</td> <td style="border-bottom: 1px solid #000000; vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> </table> </div> </div>

116130

63796

58031

5008

31610

45238

129001

95182

3915

8018

228098

111707

36079

75628

-8018

67610

<table cellpadding="0" cellspacing="0" style="width: 70%; border-collapse: collapse; font-size: 10pt; margin-left: auto; margin-right: auto;"> <tr> <td style="width: 42%; padding-right: 5.4pt; padding-left: 77.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> February 5, 2024</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">3.67%</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Expected life of warrants</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">4 years</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="margin-top: 0pt; margin-bottom: 0pt; padding-left: 40pt; padding-right: 5.4pt; background-color: #e6efff;">122.71%</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Share price at grant date</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.16</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Exercise price</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">$0.16</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify;">Fair value</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top;">$0.13</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Dividend</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; background-color: #e6efff;">Nil</td> </tr> <tr> <td style="width: 51%; padding-right: 5.4pt; padding-left: 41.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;">Forfeiture rate</td> <td style="width: 42%; padding-right: 5.4pt; padding-left: 40pt; vertical-align: top; border-bottom: 2.25pt double #000000;">0%</td> </tr> </table>

3.67

122.71

0.16

0.13

400000

<div> 12. CAPITAL STOCK AND ADDITIONAL PAID-IN CAPITAL Private Placements On October 24, 2025, the Company completed a non-brokered private placement of $7,000,000 through the issuance of 28,000,000 units at a price of $0.25 per unit, with each unit comprising one share of common stock and one share purchase warrant. Each warrant entitles the holder to acquire one share of common stock at an exercise price of $0.45 for a period of three years from the date of issuance. Certain directors and officers of Rise, directly, through entities controlled by them, or through entities for which they exercise control or direction over investment decisions, purchased an aggregate of 1,080,000 units for gross proceeds of $270,000. The Company paid finder's fees of $1,500 and issued a total of 6,000 finder's warrants, with each finder's warrant entitling the holder to acquire one share of common stock at a price of $0.45 until October 24, 2028 On May 8, 2025, the Company completed a non-brokered private placement of $3,000,000 through the issuance of 36,585,361 units at a price of $0.082 per unit, with each unit comprising one share of common stock and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one share of common stock at an exercise price of $0.15 for a period of three years from the date of issuance. Certain directors and officers of Rise, directly, through entities controlled by them, or through entities for which they exercise control or direction over investment decisions, purchased an aggregate of 9,904,196 units for gross proceeds of $812,144. The Company paid finder's fees of $3,000 and issued a total of 36,585 finder's warrants, with each finder's warrant entitling the holder to acquire one share of common stock at a price of US$0.15 until May 8, 2028. The Company paid legal fees and other share issuance costs of $37,124 in connection with this financing. Exercises under the Long-Term Incentive Plan On November 20, 2025, 1,650,000 stock options with an exercise price of $0.10 were exercised and converted to common stock. On November 20, 2025, 1,000,000 deferred share units were exercised and converted to common stock. On January 5, 2026, 250,000 restricted share units vested and were converted to common stock. On February 23, 2026, 3,901,870 stock options with exercise prices ranging from $0.10 to $0.25 were exercised and converted to common stock. On April 20, 2026, 62,500 restricted share units vested and were converted to common stock. On July 2, 2026, 62,500 restricted share units vested and were converted to common stock. Warrant exercises During the year ended July 31, 2026, 309,000 warrants with an exercise price of $0.158 were exercised and converted to common stock. Stock Options On November 20, 2025, the Company granted a total of 2,660,000 stock options to directors, officers, and consultants of the Company. The stock options are exercisable at a price of $0.18 per share until November 20, 2030. The Company recognized a share-based compensation expense of $415,737 in connection with this grant. <div style="margin-top: 0px; margin-bottom: 0px;"> </div> On October 30, 2025, the Company granted a total of 1,445,469 stock options to directors, officers, and consultants of the Company. The stock options are exercisable at a price of $0.25 per share until October 30, 2030. The Company recognized a share-based compensation expense of $277,411 in connection with this grant. On May 22, 2025, the Company granted a total of 3,320,000 stock options to directors, officers, and consultants of the Company. The stock options are exercisable at a price of $0.10 per share until May 22, 2030. The Company recognized a share-based compensation expense of $366,870 in connection with this grant. On March 25, 2025, the Company granted a total of 1,142,410 stock options to directors and officers of the Company. The stock options have a fair value of $81,455 and are exercisable at a price of $0.10 per share until March 25, 2030. 533,103 stock options were vested immediately, and 609,307 stock options originally vested over six calendar quarters but were accelerated to fully vest on May 22, 2025. The Company recognized a share-based compensation expense of $81,455 in connection with this grant. On October 21, 2024, the Company granted a total of 1,006,750 stock options with a fair value of $106,859 to a consultant of the Company. The stock options are exercisable at a price of $0.11 per share until October 21, 2029. On September 20, 2024, the Company granted 1,006,750 stock options to an officer of the Company. The stock options are exercisable at a price of $0.10 per share for a period of five years from the date of grant, subject to vesting, 25% vesting on the date of grant and 12% vesting every 3 months thereafter. On May 22, 2025 all unvested options were accelerated to fully vest. The Company recorded share-based compensation of $116,240 in connection with this grant. The following incentive stock options were outstanding as at July 31, 2026: <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> Number of Options outstanding </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> Weighted Average Exercise Price ($) </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> Expiry Date </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 200,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.65 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> February 7, 2027 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 260,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.53 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> February 21, 2028 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 217,780 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.26 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> September 22, 2028 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 612,202 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.25 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> December 12, 2028 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 562,238 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.17 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> May 1, 2029 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 1,006,750 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.11 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> October 21, 2029 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 330,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.10 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> March 25, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 530,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.10 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> May 22, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 915,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.25 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> October 30, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 2,660,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.18 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> November 20, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> 7,293,970 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> 0.20 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> </tr> </table> </div> As at July 31, 2026, the aggregate intrinsic value of the Company's stock options is $64,603 (July 31, 2025 - $443,246). As at July 31, 2026, the Company has 7,293,970 options issued, outstanding, and exercisable with a weighted average exercise price of $0.20. <div style="margin-top: 0px; margin-bottom: 0px;"> </div> Stock option transactions are summarized as follows: <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Number of Options</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Weighted Average Exercise Price ($)</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance outstanding, July 31, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">5,578,511</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.52</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;"> Options granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">6,475,910</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.10</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Options expired and cancelled</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(3,314,050</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.68</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Balance outstanding and exercisable, July 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">8,740,371</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">0.15</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Options granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,105,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.20</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;"> Options exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(5,551,870</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.12</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Balance outstanding and exercisable, July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%; background-color: #e6efff;">7,293,970</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%; background-color: #e6efff;">0.20</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> The following weighted average assumptions were used for the Black-Scholes pricing model valuation of stock options issued during the years ended July 31, 2026 and 2025: <div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> November 20, 2025</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> October 30, 2025</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> May 22, 2025</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.80%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.71%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.96%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Expected life of stock options</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">154.54%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">154.35%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">149.96%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Dividend</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Forfeiture rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> </tr> </table> </div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> March 25, 2025</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> October 21, 2024</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> September 20, 2024</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.72%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.98%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.73%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Expected life of stock options</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">145.38%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">135.38%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">132.92%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Dividend</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Forfeiture rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> </tr> </table> </div> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> Deferred Share Units ("DSUs) On October 30, 2025, the Company granted 1,365,854 DSUs to certain directors. The DSUs can be exercised and converted to shares upon termination of service. Based on the Company's October 30, 2025, share price of $0.21, a stock-based compensation of $286,828 was recognized. On November 20, 2025, 1,000,000 DSUs were converted to shares upon termination of service of the previous CEO. 365,854 DSUs are outstanding at July 31, 2026. Restricted Share Units (“RSUs) On January 5, 2026, the Company granted 250,000 RSUs to the CEO of the Company. The RSUs were fully vested and converted to shares. Based on the Company's January 5, 2026, share price of $0.28, a stock-based compensation of $70,000 was recognized. On April 1, 2026, 62,500 RSUs were granted to the CEO of the Company. The RSUs were fully vested and converted to shares on April 20, 2026. A stock-based compensation of $26,250 (based on a $0.42 share price on grant date) was recognized in connection with the April 2026 RSU grant. On July 1, 2026, 62,500 RSUs were granted to the CEO of the Company. The RSUs were fully vested and converted to shares on July 2, 2026. A stock-based compensation of $7,500 (based on a $0.12 share price on grant date) was recognized in connection with the July 2026 RSU grant. No RSUs are outstanding at July 31, 2026. Pursuant to an employment agreement between the Company and its CEO, the Company is committed to grant 312,500 RSUs between August 1, 2026 and October 1, 2027. Share-Based Payments The Company has in place a Long-Term Incentive Plan which provide for the award of Restricted Share Units ("RSUs"), Performance Share Units ("PSUs"), Deferred Share Units ("DSUs"), Stock Appreciation Rights ("SARs") and options to purchase Shares ("Options" and together with RSUs, PSUs, DSUs and SARs, "Awards") to directors, officers, employees, management Company Employees, and consultants. The maximum aggregate number of Awards, at any point, shall not exceed 10% of the total number of issued and outstanding shares of the Company on a non-diluted basis at such point in time. Warrants The following warrants were outstanding as at July 31, 2026: <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Number of Warrants</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Exercise Price ($)</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify; white-space: nowrap;"> Expiry Date</td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2,873,170</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.16</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> April 9, 2027 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">1,849,212</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.16</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> April 29, 2027 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">1,000,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.16</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> February 5, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">18,329,266</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.15</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> May 8, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">1,700,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.12</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> September 12, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">2,882,514</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.17</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> October 10, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">28,006,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.45</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> October 24, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 0.75pt solid #000000; text-align: right;">18,000,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.40</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> December 31, 2029 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff;">74,640,162</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff;">0.32</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right;"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right;"> </td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;"> </td> </tr> </table> </div> <div style="margin-top: 0px; margin-bottom: 0px;"> </div> Warrant transactions are summarized as follows: <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Number of Warrants</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Weighted Average Exercise Price ($)</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance outstanding, July 31, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">16,711,575</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.41</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;"> Warrants granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">22,911,780</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.15</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Warrants expired</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(7,943,424</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.66</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Balance outstanding, July 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">31,679,931</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">0.16</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Warrants granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">46,006,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.43</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;"> Warrants exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(309,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.16</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Warrants expired</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(2,736,769</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.26</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Balance outstanding, July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">74,640,162</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">0.32</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Warrants exercisable</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">56,640,162</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">0.30</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div> On March 3, 2026, the Company entered into a strategic development partnership (the "Agreement") with Morgan Hughes Energy ("Morgan Hughes") to advance the I-M Mine Property as a U.S.-based gold and critical-minerals project. Under the Agreement, Morgan Hughes will work alongside Rise Gold to advance development planning, support capital formation in connection with progressing the project toward operations and position the project within applicable domestic critical-minerals and industrial initiatives. Under the terms of the Agreement the Company issued to Morgan Hughes 18,000,000 warrants with an exercise price of $0.40 and an expiration date of December 31, 2029. The warrants are structured to vest and become exercisable upon the achievement of defined project advancement milestones associated with positioning the I-M Mine Property for development and operation. 9,000,000 warrants will vest upon designation by a US federal agency as a critical-minerals or national-security project. An additional 4,500,000 warrants will vest upon the issuance of a development funding letter. The remaining 4,500,000 warrants will vest upon the Company securing material development participation or capital commitments in connection with advancing the project toward operations during the term of the Agreement. If material development participation or capital commitments are secured within 36 months of signing the Agreement, Rise Gold will pay Morgan Hughes a one-time development milestone payment of $1,500,000 in recognition of its role as a strategic development partner advancing the project toward production. If the Agreement expires without achievement of the defined milestones, Rise Gold shall pay Morgan Hughes a one-time project development reimbursement of $250,000, or, upon mutual agreement, issue 1,800,000 warrants exercisable for twelve months. As of July 31, 2026, the Company has not recognized compensation expense related to the warrants as the vesting is not yet considered probable. </div>

7000000

28000000

0.25

0.45

1080000

270000

1500 6000

0.45

3000000

36585361

0.082

0.15

9904196

812144

3000 36585

0.15

37124

1650000

0.1

1000000

250000

3901870

0.1

0.25

62500

309000

0.158

2660000

0.18

415737

1445469

0.25

277411

3320000

0.1

366870

1142410

81455

0.1

533103

609307

81455

1006750

106859

0.11

1006750

0.1

0.25

0.12

116240

<div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> Number of Options outstanding </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> Weighted Average Exercise Price ($) </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000;"> Expiry Date </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 200,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.65 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> February 7, 2027 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 260,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.53 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> February 21, 2028 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 217,780 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.26 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> September 22, 2028 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 612,202 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.25 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> December 12, 2028 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 562,238 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.17 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> May 1, 2029 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 1,006,750 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.11 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> October 21, 2029 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 330,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.10 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> March 25, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 530,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.10 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> May 22, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 915,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; background-color: #e6efff;"> 0.25 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; background-color: #e6efff;"> October 30, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 2,660,000 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle;"> 0.18 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top;"> November 20, 2030 </td> </tr> <tr> <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> 7,293,970 </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> 0.20 </td> <td style="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> <td style="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; background-color: #e6efff;"> </td> </tr> </table> </div>

200000

0.65

2027-02-07

260000

0.53

2028-02-21

217780

0.26

2028-09-22

612202

0.25

2028-12-12

562238

0.17

2029-05-01

1006750

0.11

2029-10-21

330000

0.1

2030-03-25

530000

0.1

2030-05-22

915000

0.25

2030-10-30

2660000

0.18

2030-11-20

7293970

0.2

64603

443246

7293970

0.2

<div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Number of Options</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Weighted Average Exercise Price ($)</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance outstanding, July 31, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">5,578,511</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.52</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;"> Options granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">6,475,910</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.10</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Options expired and cancelled</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(3,314,050</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.68</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Balance outstanding and exercisable, July 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">8,740,371</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">0.15</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Options granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">4,105,469</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.20</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify;"> Options exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(5,551,870</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.12</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Balance outstanding and exercisable, July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%; background-color: #e6efff;">7,293,970</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%; background-color: #e6efff;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%; background-color: #e6efff;">0.20</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div>

5578511

0.52

6475910

0.1

3314050

0.68

8740371

0.15

4105469

0.2

5551870

0.12

7293970

0.2

<div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> November 20, 2025</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> October 30, 2025</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> May 22, 2025</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.80%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.71%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.96%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Expected life of stock options</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">154.54%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">154.35%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">149.96%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Dividend</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Forfeiture rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> </tr> </table> </div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 80%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> March 25, 2025</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> October 21, 2024</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> September 20, 2024</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Risk-free interest rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.72%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.98%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2.73%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Expected life of stock options</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> 5 years </td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;">Expected annualized volatility</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">145.38%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">135.38%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">132.92%</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;">Dividend</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">Nil</td> </tr> <tr> <td style="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Forfeiture rate</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right; background-color: #e6efff;">0%</td> </tr> </table> </div> </div>

0.028

0.0271

0.0296

P5Y

1.5454

1.5435

1.4996

0 0 0

0.0272

0.0298

0.0273

P5Y

1.4538

1.3538

1.3292

0 0 0

1365854

0.21

286828

1000000

365854

250000

0.28

70000

62500

26250

0.42

62500

7500

0.12

312500

0.10

<div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt;"> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Number of Warrants</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Exercise Price ($)</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify; white-space: nowrap;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify; white-space: nowrap;"> Expiry Date</td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">2,873,170</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.16</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> April 9, 2027 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">1,849,212</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.16</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> April 29, 2027 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">1,000,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.16</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> February 5, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">18,329,266</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.15</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> May 8, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">1,700,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.12</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> September 12, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;">2,882,514</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.17</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> October 10, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;">28,006,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right; background-color: #e6efff;">0.45</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> October 24, 2028 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 0.75pt solid #000000; text-align: right;">18,000,000</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: middle; text-align: right;">0.40</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify;"> December 31, 2029 </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff;">74,640,162</td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: right; background-color: #e6efff;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-top: 0.75pt solid #000000; text-align: right; background-color: #e6efff;">0.32</td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; text-align: justify; background-color: #e6efff;"> </td> </tr> <tr> <td style="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;"> </td> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right;"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right;"> </td> <td style="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: right;"> </td> <td style="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;"> </td> <td style="width: 27%; padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: top; border-bottom: 2.25pt double #000000; text-align: justify;"> </td> </tr> </table> </div>

2873170

0.16

2027-04-09

1849212

0.16

2027-04-29

1000000

0.16

2028-02-05

18329266

0.15

2028-05-08

1700000

0.12

2028-09-12

2882514

0.17

2028-10-10

28006000

0.45

2028-10-24

18000000

0.4

2029-12-31

74640162

0.32

<div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: justify;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;">Number of Warrants</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: center; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right; white-space: nowrap;">Weighted Average Exercise Price ($)</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;">Balance outstanding, July 31, 2024</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">16,711,575</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.41</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;"> Warrants granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">22,911,780</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.15</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Warrants expired</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(7,943,424</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.66</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Balance outstanding, July 31, 2025</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">31,679,931</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">0.16</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify; background-color: #e6efff;"> Warrants granted</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">46,006,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.43</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; text-align: justify;"> Warrants exercised</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">(309,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%;">0.16</td> <td style="vertical-align: bottom; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Warrants expired</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">(2,736,769</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 12%; background-color: #e6efff;">0.26</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Balance outstanding, July 31, 2026</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">74,640,162</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 1%;">$</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: right; width: 12%;">0.32</td> <td style="vertical-align: bottom; border-top: 0.75pt solid #000000; border-bottom: 2.25pt double #000000; text-align: left; width: 2%;"> </td> </tr> <tr> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: justify; background-color: #e6efff;"> Warrants exercisable</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">56,640,162</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: right; width: 12%; background-color: #e6efff;">0.30</td> <td style="vertical-align: bottom; border-bottom: 0.75pt solid #000000; text-align: left; width: 2%; background-color: #e6efff;"> </td> </tr> </table> </div>

16711575

0.41

22911780

0.15

7943424

0.66

31679931

0.16

46006000

0.43

309000

0.16

2736769

0.26

74640162

0.32

56640162

0.3

18000000

0.4

9000000 4500000 4500000 1500000 250000

1800000

<div> 13. INCOME TAXES <div> A reconciliation of income taxes (recovery) at statutory rates with the reported taxes is as follows: <div> <div style="margin-left: 36pt;"> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2026</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2025</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Loss for the year</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #e6efff;">(4,249,888</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #e6efff;">(3,260,358</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">)</td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">US federal statutory rate</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">(892,500</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">(913,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">State tax, net of federal</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">(297,500</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Foreign exchange rates and other</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">73,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">Non-deductible items - Share-based compensation</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">306,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">196,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Adjustment to prior years provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #e6efff;">(501,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #e6efff;">(527,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">Change in valuation allowance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff; border-bottom: 1px solid black;">1,385,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff; border-bottom: 1px solid black;">1,171,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #ffffff;">Income tax recovery</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Current income tax</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">Deferred tax recovery</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> </table> </div> </div> Significant components of deferred tax assets (liabilities) that have not been included on the Company's consolidated balance sheet are as follows: <div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2026</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2025</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Deferred tax assets (liabilities):</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5.4pt;">Mineral property interests</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">2,214,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">1,074,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5.4pt; background-color: #e6efff;">Share issuance costs</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">15,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">19,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5.4pt;">Property and equipment</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">(27,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Non-operating losses available for future period</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">5,920,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">5,698,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">8,149,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">6,764,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Unrecognized deferred tax assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">(8,149,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">(6,764,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Net deferred tax assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000;"> </td> </tr> </table> </div> </div> The Company has approximately $21,150,000 (2025 - $20,360,000) in net operating losses which may be carried forward and applied against taxable income in future years. The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of balance sheets are as follows: <div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;">2026 </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;">Expiry Date Range </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;">2025 </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-bottom: 0.75pt solid #000000;">Expiry Date Range </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; background-color: #e6efff;">Temporary Differences</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%;">Exploration and evaluation assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">7,907,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">3,834,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; background-color: #e6efff;">Property and equipment</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; background-color: #e6efff;"> N/A </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;">(97,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; background-color: #e6efff;"> 2033 to 2036 </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%;">Share issuance costs</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">52,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">69,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> Non-operating losses available for future periods </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">21,150,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> 2027 - indefinite </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">20,360,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> 2027 - indefinite </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> </table> </div> </div> Tax attributes are subject to review and potential adjustments by tax authorities. </div> </div>

<div> <div style="margin-left: 36pt;"> <table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2026</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2025</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #e6efff;">Loss for the year</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #e6efff;">(4,249,888</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #e6efff;">(3,260,358</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #e6efff;">)</td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">US federal statutory rate</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">(892,500</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">(913,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">State tax, net of federal</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">(297,500</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Foreign exchange rates and other</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">73,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">Non-deductible items - Share-based compensation</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">306,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">196,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Adjustment to prior years provision versus statutory tax returns</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #e6efff;">(501,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> <td style="vertical-align: bottom; text-align: left; width: 1%; background-color: #e6efff;"> </td> <td style="vertical-align: bottom; text-align: right; width: 9%; background-color: #e6efff;">(527,000</td> <td style="vertical-align: bottom; text-align: left; width: 2%; background-color: #e6efff;">)</td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">Change in valuation allowance</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff; border-bottom: 1px solid black;">1,385,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff; border-bottom: 1px solid black;">1,171,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff; border-bottom: 1px solid black;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify; background-color: #ffffff;">Income tax recovery</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000; background-color: #ffffff;"> </td> </tr> <tr style="background-color: #e6efff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Current income tax</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr style="background-color: #ffffff;"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #ffffff;">Deferred tax recovery</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #ffffff;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #ffffff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #ffffff;"> </td> </tr> </table> </div> </div>

-4249888

-3260358

-892500

-913000

-297500

73000

306000

196000

-501000

-527000

1385000

1171000

<div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2026</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> 2025</td> <td style="vertical-align: bottom; border-top: 2.25pt double #000000; border-bottom: 0.75pt solid #000000; text-align: right;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-top: 0.75pt solid #000000; text-align: justify;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Deferred tax assets (liabilities):</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5.4pt;">Mineral property interests</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">2,214,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">1,074,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5.4pt; background-color: #e6efff;">Share issuance costs</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">15,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; background-color: #e6efff;">19,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; padding-left: 5.4pt;">Property and equipment</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">(27,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Non-operating losses available for future period</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">5,920,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">5,698,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">8,149,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right;">6,764,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; text-align: justify; background-color: #e6efff;">Unrecognized deferred tax assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">(8,149,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">(6,764,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> </tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt; vertical-align: bottom; border-bottom: 2.25pt double #000000; text-align: justify;">Net deferred tax assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 2.25pt double #000000;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 9%; text-align: right; border-bottom: 2.25pt double #000000;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 2.25pt double #000000;"> </td> </tr> </table> </div> </div>

2214000 1074000 15000 19000

27000

5920000

5698000

8149000

6764000

8149000

6764000

21150000

20360000

<div> <div style="margin-left: 36pt;"> <table cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-color: #000000;"> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;">2026 </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;">Expiry Date Range </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; text-align: right; border-bottom: 0.75pt solid #000000;">2025 </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-bottom: 0.75pt solid #000000;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; white-space: nowrap; border-bottom: 0.75pt solid #000000;">Expiry Date Range </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom;"> </td> </tr> <tr> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; background-color: #e6efff;">Temporary Differences</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%;">Exploration and evaluation assets</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">7,907,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;">$</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">3,834,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; background-color: #e6efff;">Property and equipment</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;">-</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; background-color: #e6efff;"> N/A </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; background-color: #e6efff;">(97,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;">)</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; background-color: #e6efff;"> 2033 to 2036 </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%;">Share issuance costs</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">52,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right;">69,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%;"> No expiry date </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left;"> </td> </tr> <tr> <td style="padding-left: 10pt; margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 60%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> Non-operating losses available for future periods </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">21,150,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> 2027 - indefinite </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; text-align: right; border-bottom: 0.75pt solid #000000; background-color: #e6efff;">20,360,000</td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 1%; text-align: left; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 10%; border-bottom: 0.75pt solid #000000; background-color: #e6efff;"> 2027 - indefinite </td> <td style="margin-top: 0pt; margin-bottom: 0pt; vertical-align: bottom; width: 2%; text-align: left; background-color: #e6efff;"> </td> </tr> </table> </div> </div>

7907000

No expiry date

3834000

No expiry date

-0

N/A

-97000

2033 to 2036

52000

No expiry date

69000

No expiry date

21150000

2027 - indefinite

20360000

2027 - indefinite

<div> <div> 14. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS During the years ended July 31, 2026 and 2025, the Company had the following non-cash financing and investing activities: For the year ended July 31, 2026: a) The Company accrued $3,915 of interest expense as part of the outstanding balance of the credit facility. b) Share issuance costs of $12,793 are included in accounts payable at July 31, 2026. c) Sale of equipment for $100,000 which offsets the deposit liability. d) The Company allocated $8,018 to deferred financing asset. e) Note receivable of $1,222,137 at July 31, 2026 is for mineral property recovery For the year ended July 31, 2025: f) The Company accrued $5,008 of interest expense as part of the outstanding balance of the credit facility g) The Company issued a total of 1,700,000 share purchase warrants, as consideration for loan extension, entitling the holder to acquire one share at an exercise price of $0.115 until September 12, 2028 with a total fair value of $154,351. h) The Company issued 2,882,514 share purchase warrants for a secured loan agreement entitling the holder to acquire one share at an exercise price of $0.1735 until October 10, 2028 with a total fair value of $334,423. i) The Company allocated $36,079 from deferred financing asset. j) Share issuance costs of $31,061 are included in accounts payable at July 31, 2025. k) Note receivable of $1,188,701 at July 31, 2025 is for mineral property recovery. </div> </div>

3915

12793

100000 8018

1222137

5008

1700000 0.115 154351 2882514 0.1735

334423

36079

31061

1188701

15. SEGMENTED INFORMATION A reporting segment is defined as a component of the Company that: - Engages in business activities from which it may earn revenues and incur expenses; - Operating results are reviewed regularly by the entity's chief operating decision maker; and - Discrete financial information is available The Company has determined that it operates its business in one geographical segment located in California, United States, where all of its equipment and mineral property interests are located.

<div> 16. SUBSEQUENT EVENTS Subsequent to the year ended July 31, 2026, the Company issued 62,500 RSUs to the CEO of the Company. The 62,500 RSUs were subsequently converted to common stock. </div>

62500

<div> Insider Trading Policies and Procedures The Company's Code of Ethics (a copy of which is filed as Exhibit 14.1) contains provisions requiring the Company's executive officers to comply with certain insider trading requirements. The Company also follows certain practices that management believes are designed to promote compliance by its directors, officers and employees with insider trading laws, rules and regulations, including the listing standards of the CSE, but the Company has not formally adopted written insider trading policies and procedures . Management believes that the approach the Company has taken to date has been sufficient because the Company has a small number of directors, officers and employees who have been advised upon joining the Company about applicable insider trading prohibitions and are also notified of any mandated blackout periods The management and the Board of Directors are considering adopting formal insider trading policies and procedures. </div> false false false false false