Condensed Interim Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Feb. 28, 2026	Nov. 30, 2025
Current assets
Cash and cash equivalents	$ 47,784	$ 51,613
Accounts receivable	112	118
Deposits and prepaid amounts	120	193
Total current assets	48,016	51,924
Investment in Ambler Metals LLC (note 3)	106,420	105,263
Right of use asset (note 5(a))	106	117
Total assets	154,542	157,304
Current liabilities
Accounts payable and accrued liabilities (note 4)	698	2,329
Current portion of lease liability (note 5b)	43	41
Derivative liability (note 2)	32,257	30,743
Total current liabilities	32,998	33,113
Long-term portion of lease liability (note 5(b))	60	70
Total liabilities	33,058	33,183
Shareholders' equity
Share capital (note 6) - unlimited common shares authorized, no par value issued - 172,545,639 (2025 - 171,069,888)	227,818	225,241
Contributed surplus	118	118
Contributed surplus - options (note 6(a))	29,477	27,294
Contributed surplus - units (note 6(b))	3,775	4,109
Deficit	(139,704)	(132,641)
Total shareholders' equity	121,484	124,121
Total liabilities and shareholders' equity	$ 154,542	$ 157,304