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<div style="font-size:10pt;font-family:Times New Roman"> <div> Opinion on the Financial Statements We have audited the accompanying consolidated statements of financial position of Mako Mining Corp. and its subsidiaries (the Company) as of December 31, 2025 and 2024, and the related consolidated statements of income and comprehensive income, of changes in shareholders’ equity and of cash flows for the years then ended, including the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and its financial performance and its cash flows for the years then ended in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board. </div> </div> PricewaterhouseCoopers LLP Vancouver, Canada

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<div> <div style="margin-left:22.3pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap"> Subsidiary</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap">Referred to as</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap">Place of incorporation </td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap">Ownership interest</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap"> Principal activity</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">Goldsource Mines Inc.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">"Goldsource"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">Canada</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;text-align:justify">Parent company to EMGC.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Eagle Mountain Gold Corp.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">"EMGC"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Canada</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Parent company to Stronghold.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">Stronghold Guyana Inc.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">"Stronghold"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">Guyana</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;text-align:justify">Holds mineral interest in Guyana, exploration activities; and has a 98% interest in a joint arrangement with Kilroy Mining Inc to operate the Eagle Mountain Project.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Gold Belt, S.A.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">"Gold Belt"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Nicaragua</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Holds mineral interest in Nicaragua, exploration activities.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">Nicoz Resources, S.A.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">"Nicoz"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">Nicaragua</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;text-align:justify">Gold production. Holds mineral interest in Nicaragua, San Albino and Las Conchitas deposits and exploration activities.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Mako US Corp.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">"Mako US"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">United States</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Service company and parent company to EGA.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">EG Acquisition LLC</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">"EGA"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">United States</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify;background-color:#e6efff">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;background-color:#e6efff;text-align:justify">Parent company to GVC.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Golden Vertex Corp.</td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">"GVC"</td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">United States</td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">100%</td> <td style="width:37%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;text-align:justify">Gold production. Holds mineral interest in the USA, the Moss Mine.</td> </tr> <tr> <td style="width:19%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="width:9%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="width:11%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </td> <td style="width:8%;padding-right:5.75pt;padding-left:5.75pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> </table> </div> </div>

<div> 3. RECENT IFRS PRONOUNCEMENTS ISSUED BUT NOT YET EFFECTIVE Amendments to IFRS 9, Financial instruments, and IFRS 7, Financial instruments: Disclosures In May 2024, the International Accounting Standards Board issued Amendments to the Classification and Measurement of Financial Instruments (amendments to IFRS 9 and IFRS 7). The amendments clarify the requirements for the recognition and derecognition of financial assets and financial liabilities, including introducing an accounting policy option for the derecognition of financial liabilities settled through an electronic payment system before the settlement date. The amendments also provide additional guidance on assessing the contractual cash flow characteristics of financial assets, including those with contingent or ESG-linked features, and enhance disclosure requirements for financial instruments with contingent features and for equity instruments designated at fair value through other comprehensive income. The amendments are effective for annual reporting periods beginning on or after January 1, 2026, with early adoption permitted. The Company is currently evaluating the impact of these amendments on its financial statements. IFRS 18, Presentation and disclosure in financial statements In April 2024, the International Accounting Standards Board issued IFRS 18, Presentation and Disclosure in Financial Statements, which replaces IAS 1, Presentation of Financial Statements. IFRS 18 introduces new presentation requirements for the statement of profit or loss, including the use of three defined categories, operating, investing, and financing, and the inclusion of specified subtotals. The standard also requires entities to provide additional disclosures for management-defined performance measures, as well as enhanced guidance on the aggregation and disaggregation principles that apply to both the primary financial statements and the notes. IFRS 18 does not change the recognition or measurement of items in the financial statements, nor the classification or presentation of items within other comprehensive income. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, including interim periods, with retrospective application required. Early application is permitted. The Company is currently assessing the impact of this new standard on its future financial statements. </div>

<div> 4. MATERIAL ACCOUNTING POLICIES <div> (a) Cash and cash equivalents Cash and cash equivalents include cash, term deposits and short-term highly liquid investments with an original term to maturity of three months or less. </div> <div> (b) Functional and presentation currency The financial statements of each company within the consolidated group are measured using their functional currency which is the currency of the primary economic environment in which an entity operates. The functional currency of the parent company, Mako, and its subsidiaries Goldsource and EMGC, is the Canadian dollar, Stronghold is the Guyanese dollar, and the functional currency of its remaining subsidiaries is the United States dollar ("US dollar"). The presentation currency of these consolidated financial statements is the US dollar. Transactions and balances Transactions in currencies other than the entity's functional currency are recorded at exchange rates prevailing on the dates of the transactions. At the end of each reporting period, the monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the financial reporting date while non-monetary assets and liabilities are translated at historical rates. Non-monetary items measured at fair value are reported at the exchange rate at the date when fair values were determined. Revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Exchange gains and losses arising on translation are included in the consolidated statement of income. Parent and subsidiary companies The financial statements of entities that have a functional currency different from the presentation currency are translated into US dollars as follows: <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top">•</td> <td style="width:auto;vertical-align:top"> assets and liabilities are translated at the closing rate at the date of the statement of financial position; and </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> income and expenses are translated at exchange rates at the dates of the transactions, where applicable, an average rate for the applicable period is used as this is considered a reasonable approximation of the actual exchange rates at the dates of the transactions. </td> </tr> </table> All resulting changes are recognized in other comprehensive income as currency translation differences and taken into a separate component of equity. These differences are recognized in the consolidated statement of income in the period in which the operation is disposed of. </div> <div> (c) Business combinations A business combination requires that the assets acquired, and liabilities assumed constitute a business. A business is an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing goods or services to customers, generating investment income or generating other income from ordinary activities. A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Although businesses usually have outputs, outputs are not required for an integrated set to qualify as a business as the Company considers other factors to determine whether the set of activities or assets is a business. <div></div> The Company has an option to apply a 'concentration test' to assess whether an acquired set of activities and assets are not a business. If substantially all of the fair value of the gross assets acquired are concentrated in a single, identifiable asset or group of similar identifiable assets, the concentration test is met, and the transaction is accounted for as an asset acquisition. In such cases, the acquirer identifies and recognizes the individual identifiable assets acquired and liabilities assumed. The cost of the net assets is allocated to the individual identifiable assets and liabilities on the basis of their relative fair values at the date of purchase. Such a transaction or event will not give rise to goodwill. Acquisition-related costs in an asset acquisition are recognized as part of the cost of the assets acquired. Business combinations are accounted for using the acquisition method whereby acquired assets and liabilities are recorded at fair value as of the date of acquisition with the excess of the purchase consideration over such fair value being recorded as goodwill. Non-controlling interest in an acquisition may be measured at either fair value or at the non-controlling interest's proportionate share of the fair value of the acquiree's net identifiable assets. </div> <div> (d) Inventories Inventories are valued at the lower of weighted average cost and net realizable value ("NRV"). NRV is the estimated selling price, less the estimated costs of completion and selling expenses. For supplies and spare parts NRV is estimated based on replacement costs. Any write‐downs of inventory to NRV are recorded as cost of sales in the consolidated statement of income. If there is a subsequent increase in the value of inventories, the previous write‐downs to NRV are reversed to the extent that the related inventory has not been sold. Inventory includes work in progress inventory in the form of stockpiled ore, ore in-circuit inventory and heap leach ore, as well as finished goods inventory, and supplies and spare parts. <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top">•</td> <td style="width:auto;vertical-align:top"> Stockpiled ore represents unprocessed ore that has been mined and is available for future processing. Stockpiled ore is measured by estimating the number of tonnes through physical surveys and contained ounces through grade reconciliation via the ore control process. </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Ore in-circuit inventory represents material that is currently being processed to extract the contained gold into a saleable form, typically unrefined doré. The amount of gold in-circuit is determined by assay values and by measure of the various gold bearing materials in the recovery process. </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Heap leach ore inventory represents estimated gold and silver ounces contained in ore that has been placed on the heap leach pad for cyanide irrigation. When ore is placed on the heap leach pad, an estimate of recoverable ounces is made based on tonnage, grade and estimated recoveries of the ore that was placed on the heap leach pad. The cost of heap leach inventory is derived from current mining and leaching costs and is removed at the weighted average cost per recoverable ounce of gold on the leach pads as gold ounces are recovered. The estimated recoverable ounces carried on the heap leach pad are adjusted based on actual recoveries being experienced. Actual and estimated recoveries are measured to the extent possible, using various indicators including but not limited to, leach curve recoveries, column tests and current trends in the level of ounces carried on the pad. </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Finished metal inventory consists of gold in doré awaiting refinement, or bullion. </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Supplies and spare parts inventory consist of consumables used in operations, such as fuel, chemicals, reagents and spare parts. </td> </tr> </table> Cost of work in progress inventory and finished goods includes all direct costs incurred in production including mining; crushing, leaching and processing; site administration costs; and allocated indirect costs, including depreciation and amortization of mineral property, plant and equipment. Inventory costs are charged to production costs on the basis of the quantity of metal sold. Cost of supplies and spare parts inventory include acquisition, freight and other directly attributable costs. </div> <div></div> <div> (e) Exploration and evaluation expenditures All exploration and evaluation expenditures are expensed, except for costs related to the acquisition of exploration and evaluation assets which are capitalized. Management reviews the capitalized costs on its exploration and evaluation assets to consider if there is an impairment to take into consideration arising from current exploration results and management's assessment of the exploration results and of the future probability of profitable operations from the property, or likely gains from the disposition or option of the property. Indicators of impairment considered by management include: (i) the duration which the Company has the right to explore in the area has expired during the year or will expire in the near future, (ii) substantive expenditure on further exploration for an evaluation of mineral resources in the area is neither budgeted nor planned, (iii) based on the technical reports prepared by management's experts, whereby sufficient data exists to support that extracting the mineral resources will not be technically feasible or commercially viable and (iv) other facts and circumstances suggest that the carrying amount exceeds the recoverable amount. If a property is abandoned, or considered to have no future economic potential, the acquisition and accumulated exploration and evaluation costs are written off to the statement of income. If the carrying value of a project exceeds its estimated value, an impairment provision is recorded. When technical feasibility and commercial viability of extracting a mineral resource from a particular mineral property has been determined, exploration and evaluation assets are reclassified to development assets within mineral property, plant and equipment and are subject to impairment test at the time of transfer. </div> <div> <div> (f) Right-of-use asset and lease liabilities The Company assesses whether a contract is or contains a lease at inception of a contract. The Company recognizes a right-of-use asset ("ROU asset") and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, at the commencement of the lease, with the following exceptions: <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> the Company has elected not to recognize ROU assets and liabilities for leases where the total lease term is less than or equal to 12 months or </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> for leases of low value. </td> </tr> </table> The ROU asset is initially measured based on the present value of lease payments, lease payments made at or before the commencement day, and any initial direct costs. They are subsequently measured at cost less accumulated amortization and impairment losses. The ROU asset is depreciated over the shorter of the lease term or the useful life of the underlying asset. The ROU asset is subject to testing for impairment if there is an indicator of impairment. The lease liability is initially measured at the present value of lease payments that are not paid at the commencement date, discounted by using the rate implicit in the lease. If this rate cannot be readily determined, the Company uses its incremental borrowing rate. Lease payments include fixed payments and any variable lease payments where variability depends on an index or rate, less any lease incentives. When the lease contains an extension or purchase option that the Company considers reasonably certain to be exercised, the cost of the option is included in the lease payments. Variable lease payments that do not depend on an index or rate are not included in the measurement of the ROU assets and lease liabilities. The related payments are recognized as an expense in the period in which the triggering event occurs and are included in the consolidated statements of income. </div> <div></div> </div> <div> (g) Mining interest, plant and equipment Mineral properties Mineral properties are carried at cost, less accumulated depletion and any accumulated impairment charges. Costs include: <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The fair value of mineral properties acquired; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The carrying value, less impairments, of exploration and evaluation assets reclassified to development assets; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Development costs on an area of interest once management has determined the property has achieved technical feasibility and commercial viability. Development expenditures include operating and site administration costs; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Development costs are capitalized when it is probable that additional economic benefit will be derived from future operations. </td> </tr> </table> Mining properties are depleted over the economic life of the property on a units-of-production basis based on mineralized tonnes from the estimated measured and indicated resources that are reasonably expected to be converted to proven and probable reserves. Capitalization of costs incurred ceases when the mining property is capable of commencement of mining operations in the manner intended by management. Costs incurred prior to this point, including depreciation of related plant and equipment, are capitalized. The Company applies judgment in its assessment of when a mine is capable of operating in the manner intended by management which takes account of the design of the mine and the nature of the initial commissioning phase of the mine. Costs incurred after the property is placed into production that increase production volume or extend the life of a mine are capitalized. Deferred Stripping In open pit mining operations, it is necessary to remove overburden and other waste materials to access ore from which minerals can be extracted economically. The process of mining overburden and waste materials is referred to as stripping. During the development stage of the mine, stripping costs are capitalized as part of the cost of building, developing and constructing the mine and are amortized once the mine has entered the production stage. During the production stage of a mine, stripping costs are recorded as a part of the cost of inventories unless these costs are expected to provide a future economic benefit and, in such cases, are capitalized to mineral property, plant and equipment. Production stage stripping costs provide a future economic benefit when: <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> It is probable that the future economic benefit (e.g., improved access to the ore body) associated with the stripping activity will flow to the Company; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The Company can identify the component of the ore body for which access has been improved; and </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The costs relating to the stripping activity associated with that component can be measured reliably. </td> </tr> </table> Capitalized production stage stripping costs are amortized over the expected units of production of the identified component of the ore body that becomes more accessible as a result of the stripping activity. Plant and equipment Plant and equipment are carried at cost, less accumulated amortization and impairment losses. Cost comprises the fair value of consideration given to acquire an asset and includes the direct charges associated with bringing the asset to the location and condition necessary for putting it into use along with the future cost of dismantling and removing the asset. When parts of an item of plant and equipment have different useful lives, they are accounted for as separate items (major components) of plant and equipment. <div></div> Amortization is calculated over the useful life on a straight-line basis as follows: <div> <div> <div style="margin-left:21.3pt"> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;white-space:nowrap">Asset</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;white-space:nowrap">San Albino Mine</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">Plant</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">6 years*</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">Building</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">10 years</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">Equipment</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">2-5 years</td> </tr> </table> </div> </div> </div> <div> *The plant was depreciated on a units-of-production basis based on recoverable ounces from the estimated measured, indicated and inferred resources through September 30, 2022, when the Company changed its depreciation method to straight-line. This was done to best reflect the expected pattern of consumption of the future economic benefits of the asset as well as its best estimate of the remaining useful life of the asset being two (2) years from October 1, 2022. On June 1, 2023, the estimated remaining useful life of the plant was extended by an additional 55 months based on the revised remaining useful life of the asset. As at December 31, 2025, the remaining useful life of the plant was 24 months. </div> </div> <div> (h) Impairment of non-current assets At each reporting period, the Company assesses whether there is an indication that an asset or group of assets may be impaired. When impairment indicators exist, or when the decision to proceed with the development of a particular project is taken based on its technical and commercial viability, the Company estimates the recoverable amount of the asset or group of assets and compares it against the carrying amount. The recoverable amount is the higher of the fair value less costs of disposal and the asset's value in use. If the carrying value exceeds the recoverable amount, an impairment loss is recorded in the consolidated statement of income for the period. In calculating the recoverable amount, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the asset. The cash flows are based on best estimates of expected future cash flows from the continued use of the asset. </div> <div> (i) Reclamation and rehabilitation obligation An obligation to incur restoration, rehabilitation and environmental costs arises when the environmental disturbance is caused by the exploration or development of a mineral property interest. Such costs arising from the dismantling, remediation and ongoing treatment and monitoring of a mine and other site preparation work, discounted to their net present value, are provided for and capitalized at the start of each project to the carrying amount of the asset, along with a corresponding liability as soon as the obligation to incur such costs arises. The timing of the actual rehabilitation expenditure is dependent on a number of factors such as the life and nature of the asset, the operation license conditions and, when applicable, the environment in which the mine operates. Discount rates using a pre‐tax rate that reflects the time value of money and the risk associated with the liability are used to calculate the net present value. These costs are capitalized and then charged against the consolidated statement of income over the economic life of the related asset, through amortization using the unit‐of‐production. The corresponding liability is progressively increased as the effect of discounting unwinds creating a finance expense in the consolidated statement of income. Decommissioning costs are also adjusted at each reporting date for changes in estimates. These may include revised expected cash flows, the timing of the cash flows and discount rate. Those adjustments are accounted for as a change in the corresponding capitalized cost, except where a reduction in costs is greater than the unamortized capitalized cost of the related assets, in which case the capitalized cost is reduced to nil and the remaining adjustment is recognized in the consolidated statement of income and comprehensive income. The operations of the Company have been, and may in the future be, affected by changes in environmental regulations, including those for site restoration costs. </div> <div></div> <div> (j) Share-based payments awards The grant date fair value of the estimated number of share-based payments awarded to employees, officers and directors that will eventually vest, is recognized as share-based compensation expense over the vesting period of the stock options with a corresponding increase to equity. The grant date fair value of each stock option is estimated on the date of the grant using the Black-Scholes option-pricing model and is expensed over the vesting period, based on the Company's estimate of equity instruments that will eventually vest. At the end of each reporting period, the Company revises its estimate of the number of equity instruments expected to vest and adjusts the amount of recorded compensation expense accordingly. The impact of the revision of the original estimates, if any, is recognized in the statement of income or capitalized in mining properties such that the accumulated expense reflects the revised estimate, with a corresponding adjustment to contributed surplus. For transactions with non-employees, the fair value of equity settled awards is measured at the fair value of the goods or services received, at the date the goods or services are received by the Company. In cases where the fair value of goods or services received cannot be reliably estimated, the Company estimates the fair value of the awards at the date of grant. </div> <div> (k) Revenue recognition The Company's primary source of revenue is from the sale of gold and silver. Revenue from the sale is recognized when control of the metal transfers to the customer. Transfer of control generally occurs on the trade settlement date, which is the point at which the metal has been accepted by the customer, and the Company has an enforceable right to payment. At the time of control transfer, the significant risks and rewards of ownership have been transferred to the customer, and the customer is able to direct the use of and obtain substantially all of the remaining benefits from the goods. Revenue is measured at the fair value of the consideration received or receivable. The fair value of consideration is determined using the spot price on the trade settlement date. Revenue is recognized to the extent that it is probable that economic benefits will flow to the Company and the revenue can be reliably measured. </div> <div> (l) Earnings per share Basic earnings per share ("EPS") is calculated based on the weighted average number of common shares issued and outstanding during the period. Diluted EPS is calculated using the treasury stock method and if converted method, as applicable. Under the treasury stock method, the dilutive effect on EPS is calculated presuming the exercise of outstanding options, warrants and similar instruments with an average exercise price below the market price of the underlying shares. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the period. The if converted method assumes that all equity settled share units have been converted in determining diluted EPS if they are in-the money, except where such conversion would be anti-dilutive. The calculation of diluted loss per share excludes the effects of various conversions and exercises of options and warrants that would be antidilutive. </div> <div> (m) Income tax Income tax is recognized in net income for the period except to the extent that it relates to items recognized either in other comprehensive income or directly in equity, in which case it is recognized in other comprehensive income or equity, respectively. Deferred tax is provided using the balance sheet method whereby deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they are realized or settled, based on the laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is not recognized for temporary differences which arise on the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting, nor taxable profit or loss. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized. <div></div> Mining taxes and royalties are considered to have the characteristics of an income tax when they are imposed under government authority and the amount payable is calculated by reference to taxable income. Obligations arising from royalty arrangements and other types of taxes that do not satisfy these criteria are recognized as current provisions and included in cost of sales. </div> <div> (n) Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. All financial instruments are initially recorded at fair value, adjusted for directly attributable transaction costs. The Company determines each financial instrument's classification upon initial recognition. Measurement in subsequent periods depends on the financial instrument's classification. Financial assets Financial assets are classified and measured at: fair value through profit and loss ("FVTPL"), fair value through other comprehensive income ("FVOCI") and amortized cost. On initial recognition of an equity instrument that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment's fair value in other comprehensive income. Measurement and classification of financial assets is dependent on the Company's business model for managing the financial assets and the contractual cash flow characteristics of the financial asset i.e. whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets at amortized cost (debt instruments) The Company measures financial assets at amortized cost if both of the following conditions: the financial asset is held with the objective to collect contractual cash flows; and the contractual terms of the financial asset give rise to cash flows that are solely payments of principal and interest ("SPPI"). Financial assets at amortized cost are subsequently measured using the effective interest rate ("EIR") method and are subject to impairment. Interest received is recognized as part of finance income. Gains and losses are recognized when the asset is derecognized, modified or impaired. The Company's financial assets at amortized cost include: cash equivalents and receivables. Financial assets at FVTPL Financial assets at FVTPL include financial assets held for trading, financial assets designated upon initial recognition at FVTPL, or financial assets mandatorily required to be measured at fair value i.e. that fail the SPPI test. Derivatives are classified as held for trading unless they are designated as effective hedging instruments. Financial assets at FVTPL are carried in the statement of financial position at fair value with net changes in fair value recognized in the consolidated statement of income. An embedded derivative will often make a financial asset fail the SPPI test thereby requiring the instrument to be measured at FVTPL in its entirety. The Company's financial assets at FVTPL include: gold stream derivative. <div></div> Impairment An expected credit loss ("ECL") impairment model applies which requires a loss allowance to be recognized based on ECLs. The estimated present value of future cash flows associated with the asset is determined and an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the carrying amount of the asset is reduced to estimated present value of the future cash flows associated with the asset, discounted at the financial asset's original EIR, either directly or through the use of an allowance account and the resulting loss is recognized in profit or loss for the period. Financial liabilities Financial liabilities are classified, at initial recognition, as financial liabilities at FVTPL, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. Financial liabilities at FVTPL Financial liabilities at FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as at FVTPL. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments that are not designated as hedging instruments. Gains or losses on financial liabilities at FVTPL are recognized in the consolidated statement of income. The Company's financial liabilities at FVTPL include: derivative liability. Loans and borrowings and payables After initial recognition, interest-bearing loans and borrowings and trade and other payables are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized, as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of income. Gains and losses are recognized when the financial liability is derecognized. The Company's financial liabilities at amortized cost include accounts payable and term loan. A financial liability is derecognized when the associated obligation is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of income. </div> <div> (o) Fair value measurement From time to time, the fair values of non-financial assets and liabilities are required to be determined, e.g., when the entity acquires a business, or where an entity measures the recoverable amount of an asset or a cash generating unit at fair value less cost of disposal ("FVLCD"). Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. </div> </div>

<div> (a) Cash and cash equivalents Cash and cash equivalents include cash, term deposits and short-term highly liquid investments with an original term to maturity of three months or less. </div>

<div> (g) Mining interest, plant and equipment Mineral properties Mineral properties are carried at cost, less accumulated depletion and any accumulated impairment charges. Costs include: <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The fair value of mineral properties acquired; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The carrying value, less impairments, of exploration and evaluation assets reclassified to development assets; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Development costs on an area of interest once management has determined the property has achieved technical feasibility and commercial viability. Development expenditures include operating and site administration costs; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> Development costs are capitalized when it is probable that additional economic benefit will be derived from future operations. </td> </tr> </table> Mining properties are depleted over the economic life of the property on a units-of-production basis based on mineralized tonnes from the estimated measured and indicated resources that are reasonably expected to be converted to proven and probable reserves. Capitalization of costs incurred ceases when the mining property is capable of commencement of mining operations in the manner intended by management. Costs incurred prior to this point, including depreciation of related plant and equipment, are capitalized. The Company applies judgment in its assessment of when a mine is capable of operating in the manner intended by management which takes account of the design of the mine and the nature of the initial commissioning phase of the mine. Costs incurred after the property is placed into production that increase production volume or extend the life of a mine are capitalized. Deferred Stripping In open pit mining operations, it is necessary to remove overburden and other waste materials to access ore from which minerals can be extracted economically. The process of mining overburden and waste materials is referred to as stripping. During the development stage of the mine, stripping costs are capitalized as part of the cost of building, developing and constructing the mine and are amortized once the mine has entered the production stage. During the production stage of a mine, stripping costs are recorded as a part of the cost of inventories unless these costs are expected to provide a future economic benefit and, in such cases, are capitalized to mineral property, plant and equipment. Production stage stripping costs provide a future economic benefit when: <table border="0" cellpadding="0" cellspacing="0" style="width:100%"> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> It is probable that the future economic benefit (e.g., improved access to the ore body) associated with the stripping activity will flow to the Company; </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The Company can identify the component of the ore body for which access has been improved; and </td> </tr> <tr> <td style="width:21pt"> </td> <td style="width:15pt;vertical-align:top"> • </td> <td style="width:auto;vertical-align:top"> The costs relating to the stripping activity associated with that component can be measured reliably. </td> </tr> </table> Capitalized production stage stripping costs are amortized over the expected units of production of the identified component of the ore body that becomes more accessible as a result of the stripping activity. Plant and equipment Plant and equipment are carried at cost, less accumulated amortization and impairment losses. Cost comprises the fair value of consideration given to acquire an asset and includes the direct charges associated with bringing the asset to the location and condition necessary for putting it into use along with the future cost of dismantling and removing the asset. When parts of an item of plant and equipment have different useful lives, they are accounted for as separate items (major components) of plant and equipment. <div></div> Amortization is calculated over the useful life on a straight-line basis as follows: <div> <div> <div style="margin-left:21.3pt"> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;white-space:nowrap">Asset</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;white-space:nowrap">San Albino Mine</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">Plant</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">6 years*</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">Building</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">10 years</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">Equipment</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">2-5 years</td> </tr> </table> </div> </div> </div> <div> *The plant was depreciated on a units-of-production basis based on recoverable ounces from the estimated measured, indicated and inferred resources through September 30, 2022, when the Company changed its depreciation method to straight-line. This was done to best reflect the expected pattern of consumption of the future economic benefits of the asset as well as its best estimate of the remaining useful life of the asset being two (2) years from October 1, 2022. On June 1, 2023, the estimated remaining useful life of the plant was extended by an additional 55 months based on the revised remaining useful life of the asset. As at December 31, 2025, the remaining useful life of the plant was 24 months. </div> </div>

<div> <div> <div style="margin-left:21.3pt"> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;white-space:nowrap">Asset</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;white-space:nowrap">San Albino Mine</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">Plant</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">6 years*</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">Building</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">10 years</td> </tr> <tr> <td style="width:59%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">Equipment</td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify;background-color:#e6efff">2-5 years</td> </tr> </table> </div> </div> </div>

P6Y

P10Y

P2Y

P5Y

On June 1, 2023, the estimated remaining useful life of the plant was extended by an additional 55 months based on the revised remaining useful life of the asset. As at December 31, 2025, the remaining useful life of the plant was 24 months.

<div> (n) Financial instruments A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. All financial instruments are initially recorded at fair value, adjusted for directly attributable transaction costs. The Company determines each financial instrument's classification upon initial recognition. Measurement in subsequent periods depends on the financial instrument's classification. Financial assets Financial assets are classified and measured at: fair value through profit and loss ("FVTPL"), fair value through other comprehensive income ("FVOCI") and amortized cost. On initial recognition of an equity instrument that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment's fair value in other comprehensive income. Measurement and classification of financial assets is dependent on the Company's business model for managing the financial assets and the contractual cash flow characteristics of the financial asset i.e. whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets at amortized cost (debt instruments) The Company measures financial assets at amortized cost if both of the following conditions: the financial asset is held with the objective to collect contractual cash flows; and the contractual terms of the financial asset give rise to cash flows that are solely payments of principal and interest ("SPPI"). Financial assets at amortized cost are subsequently measured using the effective interest rate ("EIR") method and are subject to impairment. Interest received is recognized as part of finance income. Gains and losses are recognized when the asset is derecognized, modified or impaired. The Company's financial assets at amortized cost include: cash equivalents and receivables. Financial assets at FVTPL Financial assets at FVTPL include financial assets held for trading, financial assets designated upon initial recognition at FVTPL, or financial assets mandatorily required to be measured at fair value i.e. that fail the SPPI test. Derivatives are classified as held for trading unless they are designated as effective hedging instruments. Financial assets at FVTPL are carried in the statement of financial position at fair value with net changes in fair value recognized in the consolidated statement of income. An embedded derivative will often make a financial asset fail the SPPI test thereby requiring the instrument to be measured at FVTPL in its entirety. The Company's financial assets at FVTPL include: gold stream derivative. <div></div> Impairment An expected credit loss ("ECL") impairment model applies which requires a loss allowance to be recognized based on ECLs. The estimated present value of future cash flows associated with the asset is determined and an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the carrying amount of the asset is reduced to estimated present value of the future cash flows associated with the asset, discounted at the financial asset's original EIR, either directly or through the use of an allowance account and the resulting loss is recognized in profit or loss for the period. Financial liabilities Financial liabilities are classified, at initial recognition, as financial liabilities at FVTPL, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. Financial liabilities at FVTPL Financial liabilities at FVTPL include financial liabilities held for trading and financial liabilities designated upon initial recognition as at FVTPL. Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments that are not designated as hedging instruments. Gains or losses on financial liabilities at FVTPL are recognized in the consolidated statement of income. The Company's financial liabilities at FVTPL include: derivative liability. Loans and borrowings and payables After initial recognition, interest-bearing loans and borrowings and trade and other payables are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized, as well as through the EIR amortization process. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of income. Gains and losses are recognized when the financial liability is derecognized. The Company's financial liabilities at amortized cost include accounts payable and term loan. A financial liability is derecognized when the associated obligation is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of income. </div>

<div> 6. ACQUISTION OF EG ACQUISITION LLC On March 27, 2025, the Company's subsidiary Mako US Corp. completed the acquisition of EGA, acquiring all the membership interests from Wexford EG Acquisition LLC ("Wexford EGA") an entity owned by the Company's significant shareholder. EGA owns 100% of the shares of GVC, which owns the Moss Mine. On completion of the transaction, the Company acquired 100% of the Moss Mine. The acquisition has been accounted for as a purchase of assets as the Company concluded that it did not acquire processes that could develop the acquired inputs into an operating mine. Wexford EGA acquired GVC from Elevation Gold Mining Corporation ("Elevation") under a Companies' Creditors Arrangement Act ("CCAA") proceeding and related Chapter 15 proceeding in the United States (collectively, the "Bankruptcy Process") on December 31, 2024. The total purchase price for the acquisition of EGA is composed of the following: <div style="margin-left:21.3pt"> <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:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </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;background-color:#e6efff">Cash paid on closing of the transaction</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,489</td> <td style="vertical-align:bottom;border-top: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">Fair value of Contingent Consideration (Note 6(b) below)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,000</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:justify;background-color:#e6efff">External legal and advisory fees and due diligence 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">356</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:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </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%">7,845</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> </table> </div> <div></div> The purchase price was allocated based on the relative fair value of the assets acquired and liabilities assumed as follows: <div style="margin-left:21.3pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;border-top-width:0.75pt;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap;vertical-align:top;border-top-style:solid;border-top-color:#000000">Relative fair value of net assets acquired and (liabilities) assumed</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">As at March 27, 2025 $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Cash</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">346</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:5.4pt;vertical-align:bottom;text-align:justify">Prepaid expenses and deposits</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">401</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:justify;background-color:#e6efff">Inventory</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">13,139</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:5.4pt;vertical-align:bottom;text-align:justify">Reclamation bonds (Note 6 (a) below)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,259</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:justify;background-color:#e6efff">Building and equipment</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">603</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:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Mining interest</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">5,424</td> <td style="vertical-align:bottom;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;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">23,172</td> <td style="vertical-align:bottom;border-top: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;text-align:justify">Less:</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:20.95pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Accounts payable and accrued liabilities</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">(1,067</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:20.95pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Reclamation and rehabilitation obligation</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(14,260</td> <td style="vertical-align:bottom;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:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </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">7,845</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> </table> </div> The total purchase price was allocated based on the relative fair value of the assets acquired and liabilities assumed, including the mining interest and working capital. The reclamation and rehabilitation obligation was initially measured in accordance with IAS 37. The value of the building, equipment and the mining interest was determined based on a discounted cash flow model which required the use of significant assumptions that included future gold prices, future recoverable ounces of gold and expected operating costs. The fair value of leach pad inventory acquired was determined using a valuation model based on net realizable value which required the use of significant assumptions that included future gold prices, expected recoverable ounces and estimated costs of completion. (a) Reclamation bonds The reclamation bonds are required by regulatory authorities to ensure financial assurance for the Company's future reclamation obligations associated with its mining operations at the Moss Mine. On June 20, 2025, restricted cash of $1,503 held for reclamation bond purposes was released to the Company. As of December 31, 2025, the total restricted cash held for reclamation bond purposes amounts to $1,768 which is classified as non-current in the statement of financial position. (b) Contingent Consideration - Royalty agreement settlements At the time of acquisition, a 1% net smelter return ("NSR") royalty at the Moss Mine held by affiliates of Sandstorm Gold Ltd. ("Sandstorm") and a 3% NSR royalty at the Moss Mine held by Patriot Gold Corporation ("Patriot") (collectively, the "Royalty Holders") were being disputed by Elevation as part of the Bankruptcy Process whereby the court was asked to declare the validity of the real property interests asserted by the Royalty Holders ("Royalty Agreements"). In the event that Elevation was successful in invalidating the Royalty Agreements or if an agreement was to be reached with the Royalty Holders to terminate Royalty Agreements by December 31, 2025 (the "Royalty Outside Date"), the Company was to pay Elevation $1,500 (the "Contingent Consideration"). The purchase price includes an accrual for the settlement of the royalty disputes that arose in connection with the Bankruptcy Process on the date of acquisition, involving the Royalty Holders, which were before the United States Bankruptcy Court for the District of Arizona. As at the acquisition date, the fair value of the Contingent Consideration was determined to be $1,000 using the expected value approach in accordance with IFRS 13, Fair value measurements. The Contingent Consideration is recognized as a liability at amortized cost. The expected value approach develops a set of probability-based outcomes for the Contingent Consideration discounted based on market participant assumptions to determine the fair value. The assumptions used in the valuation included the likelihood of success in vesting away the royalties, and timing of the court settlement. <div></div> Subsequent to the acquisition date, on July 2, 2025, the Company acquired the Senior Secured Debt owed by Elevation to Maverix (Refer to note 8(a)). As a result, the Company reassessed the probability of cash flows related to the Contingent Consideration, determined the likelihood to be remote, and recognized a gain of $1,000 in the statement of income. On October 22, 2025, the United States Bankruptcy Court for the District of Arizona (the "US Court") granted Patriot real property interest in certain mineral interest at the Moss Mine. At December 31, 2025, the US Court has not concluded on the Sandstorm's real property interest. </div>

6489000

1000000

356000

7845000

<div style="margin-left:21.3pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;border-top-width:0.75pt;border-bottom:0.75pt solid #000000;text-align:justify;white-space:nowrap;vertical-align:top;border-top-style:solid;border-top-color:#000000">Relative fair value of net assets acquired and (liabilities) assumed</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">As at March 27, 2025 $</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Cash</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">346</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:5.4pt;vertical-align:bottom;text-align:justify">Prepaid expenses and deposits</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">401</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:justify;background-color:#e6efff">Inventory</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">13,139</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:5.4pt;vertical-align:bottom;text-align:justify">Reclamation bonds (Note 6 (a) below)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,259</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:justify;background-color:#e6efff">Building and equipment</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">603</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:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Mining interest</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">5,424</td> <td style="vertical-align:bottom;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;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">23,172</td> <td style="vertical-align:bottom;border-top: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;text-align:justify">Less:</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:20.95pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Accounts payable and accrued liabilities</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">(1,067</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:20.95pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Reclamation and rehabilitation obligation</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(14,260</td> <td style="vertical-align:bottom;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:0.75pt solid #000000;text-align:justify;background-color:#e6efff"> </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">7,845</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> </table> </div>

346000

401000

13139000

3259000

603000

5424000

23172000

1067000

14260000

7845000

1503000

1768000 0.01 0.03

1500000

1000000

0.22 0.22

13159860

3.34

32049000

1461000 723000 829000

35062000

0.0357

0.0405

0.269

0.6944

4.42

0.0405 0.5755 0.88

517000

454000

402000

37685000

1225000

1265000

1506000

35062000

2000

0.12

1514000

2077

251000

321000

1872000

715000

971000

637000

1800000 236000 0

137000

60000

5267000

1733000

35000

549000 171000 996000 29000

1545000

235000

6812000

1968000

1800000 49509000

10696000

6645000

1584000 1501000 11262000 0

1621000

232000

4015000 2709000

29178000

11087000

6977000

7651000

3371000 0 2481000 2060000

12829000

9711000

42007000

20798000

102000 0

<div> 10. MINING INTEREST, PLANT AND EQUIPMENT <div style="margin-left:21.3pt"> <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;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Mineral properties</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Building, Plant & Equipment</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Exploration & Evaluation Assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Development Asset</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Cost</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">24,102</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">43,642</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">765</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">68,509</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">6,269</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:8%;background-color:#e6efff">2,845</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:8%;background-color:#e6efff">20</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:8%;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:8%;background-color:#e6efff">9,134</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Acquisition Goldsource</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">402</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:8%">37,655</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:8%">-</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:8%">38,057</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Asset retirement obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">684</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:8%;background-color:#e6efff">40</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:8%;background-color:#e6efff">18</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:8%;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:8%;background-color:#e6efff">742</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Deferred stripping</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">5,887</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:8%">-</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:8%">-</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:8%">-</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:8%">5,887</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;border-bottom:0.75pt solid #000000;background-color:#e6efff">Foreign currency translation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;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:8%;background-color:#e6efff">(51</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:8%;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:8%;background-color:#e6efff">(51</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2024</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:8%">36,942</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">46,929</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">38,407</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">122,278</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">6,320</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:8%;background-color:#e6efff">1,572</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:8%;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:8%;background-color:#e6efff">1,474</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:8%;background-color:#e6efff">9,367</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Acquisition Moss Mine</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">603</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:8%">-</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:8%">5,424</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:8%">6,027</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Sailfish Silver Option</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(144</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:8%;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:8%;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:8%;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:8%;background-color:#e6efff">(144</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Asset retirement obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">646</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:8%">45</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:8%">(25</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:8%">564</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:8%">1,230</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Disposals</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;background-color:#e6efff">(36</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:8%;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:8%;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:8%;background-color:#e6efff">(36</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Deferred stripping</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">2,554</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:8%">-</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:8%">-</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:8%">-</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:8%">2,554</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;background-color:#e6efff">Foreign currency translation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;background-color:#e6efff">1</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:8%;background-color:#e6efff">66</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:8%;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:8%;background-color:#e6efff">67</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">46,318</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">49,114</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">38,448</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">7,463</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">141,343</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accumulated depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;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:8%;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:8%;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:8%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">18,830</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">29,147</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">47,977</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000"> Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">395</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">4,144</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">4,539</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">19,225</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">33,291</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">52,516</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">3,997</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:8%;background-color:#e6efff">4,274</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:8%;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:8%;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:8%;background-color:#e6efff">8,271</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Disposals</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">(25</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:8%">-</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:8%">-</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:8%">(25</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">As at December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">23,222</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">37,540</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">60,762</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Net book value:</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">As at December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">5,272</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">14,495</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">765</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">20,532</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at December 31, 2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">17,717</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">13,638</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">38,407</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">69,762</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">As at December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">23,096</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">11,574</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">38,448</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">7,463</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">80,581</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> </table> </div> Exploration and evaluation asset includes $765 (2024: $765) for Potrerillos and El Jicaro in Nicaragua and $37,683 (2024: $37,642) for Eagle Mountain Project in Guyana. On September 30, 2024, the Guyana Geology and Mines Commission approved the renewal of the Eagle Mountain Project's prospecting license for a three-year term, with two additional one-year extension rights. As part of the prospecting license application, the Company is required to incur minimum expenditures of $2,560 during the first year. This minimum expenditure requirement has been met. Additions to the Development Asset include $47 (2024: Nil) related to equipment used in the ramp-up of mining operations at Moss Mine while is being prepared for its intended use. </div>

<div style="margin-left:21.3pt"> <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;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Mineral properties</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Building, Plant & Equipment</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Exploration & Evaluation Assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Development Asset</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Cost</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">24,102</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">43,642</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">765</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">68,509</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">6,269</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:8%;background-color:#e6efff">2,845</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:8%;background-color:#e6efff">20</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:8%;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:8%;background-color:#e6efff">9,134</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Acquisition Goldsource</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">402</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:8%">37,655</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:8%">-</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:8%">38,057</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Asset retirement obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">684</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:8%;background-color:#e6efff">40</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:8%;background-color:#e6efff">18</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:8%;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:8%;background-color:#e6efff">742</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Deferred stripping</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">5,887</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:8%">-</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:8%">-</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:8%">-</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:8%">5,887</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;border-bottom:0.75pt solid #000000;background-color:#e6efff">Foreign currency translation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;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:8%;background-color:#e6efff">(51</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:8%;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:8%;background-color:#e6efff">(51</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2024</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:8%">36,942</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">46,929</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">38,407</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">122,278</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Additions</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">6,320</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:8%;background-color:#e6efff">1,572</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:8%;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:8%;background-color:#e6efff">1,474</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:8%;background-color:#e6efff">9,367</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Acquisition Moss Mine</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">603</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:8%">-</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:8%">5,424</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:8%">6,027</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Sailfish Silver Option</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(144</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:8%;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:8%;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:8%;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:8%;background-color:#e6efff">(144</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Asset retirement obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">646</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:8%">45</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:8%">(25</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:8%">564</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:8%">1,230</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Disposals</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;background-color:#e6efff">(36</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:8%;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:8%;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:8%;background-color:#e6efff">(36</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Deferred stripping</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">2,554</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:8%">-</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:8%">-</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:8%">-</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:8%">2,554</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;background-color:#e6efff">Foreign currency translation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;background-color:#e6efff">1</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:8%;background-color:#e6efff">66</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:8%;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:8%;background-color:#e6efff">67</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">46,318</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">49,114</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">38,448</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">7,463</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">141,343</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accumulated depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;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:8%;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:8%;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:8%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">18,830</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">29,147</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:8%">47,977</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000"> Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">395</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">4,144</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">4,539</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">As at December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">19,225</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">33,291</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">52,516</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">3,997</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:8%;background-color:#e6efff">4,274</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:8%;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:8%;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:8%;background-color:#e6efff">8,271</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Disposals</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">(25</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:8%">-</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:8%">-</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:8%">(25</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">As at December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">23,222</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">37,540</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">$ </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">60,762</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Net book value:</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">As at December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">5,272</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">14,495</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">765</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">20,532</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at December 31, 2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">17,717</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">13,638</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">38,407</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000">69,762</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">As at December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">23,096</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">11,574</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">38,448</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">7,463</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;border-top:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%;border-top:0.75pt solid #000000;background-color:#e6efff">80,581</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;border-top:0.75pt solid #000000;background-color:#e6efff"> </td> </tr> </table> </div>

24102000

43642000

765000

68509000

6269000

2845000

20000

9134000

402000

37655000

38057000

684000 40000 18000 0 742000 5887000 0 0 0 5887000

-51000

36942000

46929000

38407000

122278000

6320000

1572000

1474000

9367000

603000

5424000

6027000

144000 0 0 0 144000 646000 45000 -25000 564000 1230000

36000

2554000 0 0 0 2554000

1000

66000

67000

46318000

49114000

38448000

7463000

141343000

-18830000

-29147000

-47977000

395000

4144000

4539000

-19225000

-33291000

-52516000

3997000

4274000

8271000

25000

-23222000

-37540000

-60762000

5272000

14495000

765000

20532000

17717000

13638000

38407000

69762000

23096000

11574000

38448000

7463000

80581000

765000

37683000

37642000

2560000

47000

13722000

10043000

69000

97000

13925000

4346000

782000

312000

28498000

14798000

69000

1062000

1096000

1062000

1165000

29560000

15963000

1062000 878000 0.103 0.106

<div> 12. TERM LOANS AND DERIVATIVE LIABILITIES <div style="margin-left:22.4pt"> <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;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Wexford Loan</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Wexford Bridge Loan</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Sailfish Silver Loan Derivative Liability </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Note 12(a)</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Note 7</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Note 12(b)</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;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> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Balance, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">6,287</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;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">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">4,381</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">10,668</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Liability assumed on acquisition</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</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:10%">1,506</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:10%"> </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:10%">1,506</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Extinguishment of Wexford 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:10%;background-color:#e6efff">(6,287</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:10%;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:10%;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:10%;background-color:#e6efff">(6,287</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Recognition of Revised Wexford Loan</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">4,200</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:10%">-</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:10%">-</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:10%">4,200</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Remeasurement loss </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">483</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:10%;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:10%;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:10%;background-color:#e6efff">483</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Accretion and accrued interest</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">754</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:10%">8</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:10%">-</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:10%">762</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Repayments</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(314</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:10%;background-color:#e6efff">(1,514</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:10%;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:10%;background-color:#e6efff">(1,828</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Value of 162,000 oz of silver delivered at spot price</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</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:10%">-</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:10%">(4,622</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:10%">(4,622</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000">Fair value adjustment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;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:10%;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:10%;background-color:#e6efff">1,727</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:10%;background-color:#e6efff">1,727</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Balance, December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">5,123</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">1,486</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">6,609</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accretion and accrued interest</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">749</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:10%;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:10%;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:10%;background-color:#e6efff">749</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Repayments</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(7,123</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:10%">-</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:10%">-</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:10%">(7,123</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Value of 54,000 oz of silver delivered at spot price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;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:10%;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:10%;background-color:#e6efff">(1,747</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:10%;background-color:#e6efff">(1,747</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Loss on extinguishment</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">1,251</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:10%">-</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:10%">-</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:10%">1,251</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Fair value adjustment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;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:10%;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:10%;background-color:#e6efff">261</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:10%;background-color:#e6efff">261</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> <div></div> (a) Wexford Loan and Revised Wexford Loan In February 2020, the Company entered into a $15 million unsecured loan facility (the "Wexford Loan") with private investment funds (collectively, the "Wexford Funds") managed by the Company's controlling shareholder, Wexford Capital LP ("Wexford"). In August 2023, the Wexford Loan facility was increased by $2 million. By December 31, 2023, all principal amounts had been repaid, leaving only accrued and bonus interest of $6,287 outstanding. The Wexford Loan, including the outstanding balance of accrued and bonus interest, bore interest at the rate of 10% per annum and was set to mature on March 31, 2025. On March 27, 2024, the Wexford Loan facility was substantially amended, converting accrued and bonus interest into a new term loan of $6,287 maturing March 31, 2029, with interest at 10% compounded semi-annually ("Revised Wexford Loan"). The modification was accounted for as an extinguishment of the original liability and the recognition of a new one. The Revised Wexford Loan was measured on initial recognition using an 18% market-based effective interest rate, resulting in a related-party capital contribution of $2,087. Also, during 2024, the Company revised expected cash flows to reflect semi-annual interest payments, recording a remeasurement loss of $483. On October 28, 2025, the Company fully repaid the outstanding balance of the Revised Wexford Loan. The difference of $1,251 between the carrying amount and the settlement amount was recognized as a loss on extinguishment in the statement of income. (b) Sailfish Silver Loan Derivative Liability On May 24, 2023, the Company entered into a $6 million silver-linked loan agreement with Sailfish, which required 24 monthly deliveries of 13,500 silver ounces (or gold equivalent) and carried an interest rate of US Prime plus 4% on overdue deliveries (the "Silver Loan"). Sailfish also had the option, exercisable after 12 months from entering the Silver Loan, to purchase all remaining future silver production from the Company's San Albino-Murra concession for an additional consideration of $1 million (the "Sailfish Silver Option"). The Company determined that the stream obligation was a derivative liability, and as such, the stream obligation was recorded at FVTPL at each statement of financial position date. During the year ended December 31, 2025, the Company fully repaid the Silver Loan. On April 28, 2025, Sailfish exercised the Sailfish Silver Option. This was accounted for as a partial disposal of mineral interest, as Sailfish now holds the risks, rewards, and rights to all future silver economic benefits. In accordance with IAS 16, Property, Plant and Equipment, the mineral interest attributable to this silver amounting to $144 was derecognized upon exercise. A gain of $856 was calculated at the time of derecognition as the Company has no obligation to produce and future extraction services were determined to be of nominal value. The gain is deferred and is being recognised as the silver is delivered. During the year ended December 31, 2025, the Company recognized gain of $107. </div>

<div style="margin-left:22.4pt"> <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;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Wexford Loan</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Wexford Bridge Loan</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Sailfish Silver Loan Derivative Liability </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Note 12(a)</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Note 7</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">Note 12(b)</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;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> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Balance, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">6,287</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;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">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">4,381</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">10,668</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Liability assumed on acquisition</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</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:10%">1,506</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:10%"> </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:10%">1,506</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Extinguishment of Wexford 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:10%;background-color:#e6efff">(6,287</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:10%;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:10%;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:10%;background-color:#e6efff">(6,287</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Recognition of Revised Wexford Loan</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">4,200</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:10%">-</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:10%">-</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:10%">4,200</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Remeasurement loss </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">483</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:10%;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:10%;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:10%;background-color:#e6efff">483</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Accretion and accrued interest</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">754</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:10%">8</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:10%">-</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:10%">762</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Repayments</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">(314</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:10%;background-color:#e6efff">(1,514</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:10%;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:10%;background-color:#e6efff">(1,828</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Value of 162,000 oz of silver delivered at spot price</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</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:10%">-</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:10%">(4,622</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:10%">(4,622</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000">Fair value adjustment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;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:10%;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:10%;background-color:#e6efff">1,727</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:10%;background-color:#e6efff">1,727</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Balance, December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">5,123</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">1,486</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:10%">6,609</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accretion and accrued interest</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">749</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:10%;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:10%;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:10%;background-color:#e6efff">749</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Repayments</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">(7,123</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:10%">-</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:10%">-</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:10%">(7,123</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Value of 54,000 oz of silver delivered at spot price</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;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:10%;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:10%;background-color:#e6efff">(1,747</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:10%;background-color:#e6efff">(1,747</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Loss on extinguishment</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">1,251</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:10%">-</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:10%">-</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:10%">1,251</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Fair value adjustment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;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:10%;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:10%;background-color:#e6efff">261</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:10%;background-color:#e6efff">261</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:10%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

6287000

4381000

10668000

0 1506000 1506000 6287000 0 0 6287000 4200000 0 0 4200000 483000 0 0 483000 754000 8000 0 762000 314000 1514000 0 1828000 162000 0 0 4622000 4622000

1727000

5123000

1486000

6609000

749000 0 0 749000 7123000 0 0 7123000 54000 0 0 1747000 1747000 1251000 0 0 1251000

261000

15000000

2000000 6287000

0.10

6287000

0.10

0.18 2087000 483000 1251000 6000000 13500

US Prime plus 4%

1000000 144000 856000

107000

<div> 13. RECLAMATION AND REHABILITATION OBLIGATIONS ("ARO") <div style="margin-left:22.4pt"> <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:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">San Albino Mine </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Eagle Mountain Project</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Moss Mine</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">La Trinidad Mine</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Balance, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">2,198</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;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">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">866</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:8%;background-color:#e6efff">3,064</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Liability acquired on acquisition of Goldsource</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">1,265</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:8%">-</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:8%">-</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:8%">1,265</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Cash outflows for reclamation and rehabilitation activities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(4</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:8%;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:8%;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:8%;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:8%;background-color:#e6efff">(4</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Changes in estimate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">725</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:8%">(13</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:8%">-</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:8%">-</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:8%">712</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;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:8%;background-color:#e6efff">130</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:8%;background-color:#e6efff">64</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:8%;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:8%;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:8%;background-color:#e6efff">194</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Liability extinguished</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">-</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:8%">-</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:8%">(866</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:8%">(866</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000">Translation of foreign operation to presentation currency</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">(2</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">(2</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Balance, December 31, 2024</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:8%">3,049</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">1,314</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">4,363</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Liability acquired on acquisition of Moss Mine</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;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:8%;background-color:#e6efff">14,260</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:8%;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:8%;background-color:#e6efff">14,260</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Changes in estimate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">691</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:8%">(25</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:8%">564</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:8%">-</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:8%">1,230</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;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:8%;background-color:#e6efff">135</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:8%;background-color:#e6efff">63</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:8%;background-color:#e6efff">390</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:8%;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:8%;background-color:#e6efff">588</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">3,875</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">1,352</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">15,214</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">20,441</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> </table> </div> (a) The Company has calculated the present value of the reclamation and rehabilitation obligation as at December 31, 2025 using the undiscounted estimates of cash outflows associated with reclamation activities, which amount to $4,049 (December 31, 2024: $3,533) for the San Albino Mine, $1,451 (December 31, 2024: $1,451) for the Eagle Mountain Project, and $14,951 (December 31, 2024: Nil) for the Moss Mine. The provision was determined using discount rates ranging between 3.50% - 5.00% (December 31, 2024 - 4.25% - 5.00%) and an inflation rate of 2.50% (December 31, 2024 -2.50%). (b) Extinguishment of La Trinidad Mine ARO On February 15, 2024, the Company entered into an agreement with GR Silver Mines Ltd. ("GR Silver") to settle all liabilities and responsibilities, including but not limited to the reclamation and rehabilitation obligations, of the Company, related to the sale of the Company's Mexican operations to GR Silver in March 2021 (the "Settlement and Release Agreement"). Pursuant to the terms of the Settlement and Release Agreement, the Company made a cash payment of $500 to GR Silver and issued 296,710 common shares of the Company, for a total payment of $960. As a result, a loss of $94 on the disposition of the liability was recognized in the statement of income for the year ended December 31, 2024. </div> <div style="margin-left:22.4pt"> <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:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">San Albino Mine </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Eagle Mountain Project</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Moss Mine</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">La Trinidad Mine</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap"> </td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:middle;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Balance, December 31, 2023</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">2,198</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">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;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">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">866</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">3,064</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Liability acquired on acquisition of Goldsource</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">1,265</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:8%">-</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:8%">-</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:8%">1,265</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Cash outflows for reclamation and rehabilitation activities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(4</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:8%;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:8%;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:8%;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:8%;background-color:#e6efff">(4</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Changes in estimate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">725</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:8%">(13</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:8%">-</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:8%">-</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:8%">712</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;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:8%;background-color:#e6efff">130</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:8%;background-color:#e6efff">64</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:8%;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:8%;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:8%;background-color:#e6efff">194</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Liability extinguished</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">-</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:8%">-</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:8%">(866</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:8%">(866</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000">Translation of foreign operation to presentation currency</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">(2</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff;border-bottom:0.75pt solid #000000">(2</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Balance, December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">3,049</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">1,314</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">4,363</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Liability acquired on acquisition of Moss Mine</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;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:8%;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:8%;background-color:#e6efff">14,260</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:8%;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:8%;background-color:#e6efff">14,260</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Changes in estimate</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">691</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:8%">(25</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:8%">564</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:8%">-</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:8%">1,230</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;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:8%;background-color:#e6efff">135</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:8%;background-color:#e6efff">63</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:8%;background-color:#e6efff">390</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:8%;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:8%;background-color:#e6efff">588</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Balance, December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">3,875</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">1,352</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">15,214</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:8%;text-align:right;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">20,441</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:2%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> </table> </div>

2198000

866000

3064000

1265000

-4000 0 0 0 -4000 725000 -13000 0 0 712000 130000 64000 0 0 194000 0 0 0 -866000 -866000 0 -2000 0 0 -2000

3049000

1314000

4363000

14260000

691000 -25000 564000 0 1230000 135000 63000 390000 0 588000

3875000

1352000

15214000

20441000

4049000 3533000 1451000 1451000 14951000 0 0.035 0.05 0.0425 0.05 0.025 0.025

500000

296710

960000

94000

<div> 14. SHARE CAPITAL (a) Authorized - Unlimited number of common shares, without par value. (b) Issued Transaction during the year ended December 31, 2025: (i) On October 28, 2025, the Company closed a financing package consisting of a brokered private placement of 5,031,250 common shares at a price of C$8.00 per share, for gross proceeds of $28,777 (C$40,250) and a non-brokered private placement with funds managed by Wexford Capital LP, a related party, issuing 1,875,000 common shares at the same issue price for additional gross proceeds of $10,719 (C$15,000). In connection with the 2025 Offering, the Company incurred share issuance transaction costs of $2,058. <div></div> (ii) During the year, the Company repurchased 534,800 common shares of the Company under a normal course issuer bid for $1,357 (C$1,955). The common shares acquired by the Company are cancelled. The repurchase resulted in a reduction of Share Capital by $749, representing the average carrying value of the shares, with the remaining $608 of the purchase price was allocated to Deficit. Transaction during the year ended December 31, 2024: (iii) During the year, the Company repurchased 1,996,900 common shares of the Company under a normal course issuer bid for $4,699 (C$6,410). The common shares acquired by the Company are cancelled. The repurchase resulted in a reduction of Share Capital by $2,651, representing the average carrying value of the shares, with the remaining $2,048 of the purchase price was allocated to Deficit. (c) Share options The Company may grant stock options to its directors, executive officers, employees, and consultants to acquire common shares, exercisable for up to five years from the grant date and subject to vesting conditions, which generally occur in three equal annual tranches. The following table summarizes information about the movement of the share options outstanding under the Company's plan: <div> <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;white-space:nowrap;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">For the year ended December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">For the year ended December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> WAEP*</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">WAEP</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Opening balance</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">1,805,050</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:10%;background-color:#e6efff">C$2.83</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:10%;background-color:#e6efff">3,736,504</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:10%;background-color:#e6efff">C$2.62</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Granted</td> <td style="vertical-align:bottom;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">740,000</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:10%">4.47</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:10%">200,000</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:10%">3.31</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Mako replacement options**</td> <td style="vertical-align:bottom;text-align:left;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:10%;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:10%;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:10%;background-color:#e6efff">1,181,950</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:10%;background-color:#e6efff">2.49</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Exercised</td> <td style="vertical-align:bottom;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(500,966</td> <td style="vertical-align:bottom;text-align:left">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">3.04</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">(1,767,853</td> <td style="vertical-align:bottom;text-align:left">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">1.95</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:#e6efff">Forfeited</td> <td style="vertical-align:bottom;text-align:left;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;background-color:#e6efff">(30,000</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">4.47</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;background-color:#e6efff">(45,000</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">2.13</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Expired</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(279,750</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">4.02</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(1,500,551</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">3.18</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#e6efff"> </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:10%;background-color:#e6efff">1,734,334</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> <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:10%;background-color:#e6efff">C$3.25</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> <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:10%;background-color:#e6efff">1,805,050</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> <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:10%;background-color:#e6efff">C$2.83</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:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Options exercisable</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left"> </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:10%">845,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">C$2.36</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">1,429,217</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">C$2.88</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:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">Weighted average remaining contractual life (in years)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#e6efff"> </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:10%;background-color:#e6efff">3.14</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> <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:10%;background-color:#e6efff"> </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> <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:10%;background-color:#e6efff">2.77</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> <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:10%;background-color:#e6efff"> </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> </table> </div> </div> </div> <div> * WAEP = Weighted average exercise price **Make replacement warrants are issued on acquisition of GoldSource </div> During the year, the weighted-average market price of the shares on the dates the stock options were exercised was $4.55 (2024: $3.27). The fair value of the options granted during the year was $1,276 (2024: $272). The fair value was estimated at the grant date using the Black-Scholes option pricing model based on the following assumptions: risk free interest rate of 2.78% (2024: 3.78%), expected volatility of 58.24% (2024: 61.05%), expected option life of 5 years (2024: 2.90 years), and an expected dividend yield of Nil (2024: Nil). During the year ended December 31, 2025, the Company recorded share-based payments expense of $592 (2024: $279), all of which is included in general and administrative expenses. <div></div> (d) Restricted share units ("RSU") Under the terms of the Company's RSU Plan, the Board of Directors may grant RSUs to directors, officers, employees, and consultants, subject to vesting conditions, which generally occur over three years, and RSU's are settled in equity. The following table summarizes the RSU movements: <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;padding-left:5pt;padding-right:5pt;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">For the year ended December 31</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Opening balance</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">586,985</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">1,089,019</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">509,285</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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Exercised</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">(3,651</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">(395,720</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Net settlement for tax withholding</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> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(33,590</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;padding-left:5pt;padding-right:5pt">Forfeited</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">(72,724</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Ending balance</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%">1,092,619</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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%">586,985</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:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">RSU vested</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">291,666</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> <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">-</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> </table> </div> The fair value of RSU grated during the year was $1,674 (2024: $Nil) determined based on the market value of the Company shares at the date of issuance. For the year ended December 31, 2025, total share‐based compensation relating to RSUs was $708 (2024: $543), of which all is included in general and administrative expenses. (e) Deferred share units ("DSU") Under the terms of the Company's DSU Plan, the Board of Directors may grant DSUs to directors, which vest immediately and are settled in equity when director ceases to be a member of board of Directors. The following table summarizes the DSU movements: <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;white-space:nowrap;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;padding-left:5pt;padding-right:5pt"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">For the year ended December 31</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Opening balance</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">315,640</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">386,240</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Granted</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">145,000</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%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:#e6efff">Shares issued</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">(90,600</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">(70,600</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Ending balance</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%">370,040</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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%">315,640</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> </table> </div> The fair value of DSU granted during the year was $476 (2024: $Nil) determined based on the market value of the Company shares at the date of issuance. For the year ended December 31, 2025, total share‐based compensation relating to DSUs was $673 (2024: $199), of which all is included in general and administrative expenses. (f) Warrants <div> <div> <div style="margin-left:22.3pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap">For the year ended</td> <td colspan="5" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="6" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2024</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of warrants</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">WAEP*</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of warrants</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">WAEP*</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Opening balance</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">837,807</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:10%;background-color:#e6efff">C$2.50</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">C$-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Mako replacement warrants**</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</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:10%">-</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:10%">841,503</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:10%">2.50</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff">(793,807</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">2.50</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;background-color:#e6efff">(3,696</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">2.50</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(44,000</td> <td style="vertical-align:bottom;text-align:left">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">2.50</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:10%"> </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:10%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">Ending balance</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:10%;background-color:#e6efff">-</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> <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:10%;background-color:#e6efff">C$-</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> <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:10%;background-color:#e6efff">837,807</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> <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:10%;background-color:#e6efff">C$2.50</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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;border-bottom:0.75pt solid #000000">Weighted average remaining contractual life</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:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">0.38 years</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%"> </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> </table> </div> </div> * WAEP = Weighted average exercise price **Make replacement warrants are issued on acquisition of GoldSource </div> <div></div> The fair value of warrants issued during 2024 was estimated using the Black-Scholes option pricing model with the following assumptions: risk free interest rate of 4.05%, expected volatility of 57.55%, expected life of 0.9 years, and an expected dividend yield of Nil. </div>

5031250

28777000

40250000

1875000

10719000

15000000

2058000

534800 1357000 1955000

749000

608000 1996900 4699000 6410000

2651000

2048000

<div> <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;white-space:nowrap;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">For the year ended December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="4" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">For the year ended December 31, 2024</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> WAEP*</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of options</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">WAEP</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Opening balance</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">1,805,050</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:10%;background-color:#e6efff">C$2.83</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:10%;background-color:#e6efff">3,736,504</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:10%;background-color:#e6efff">C$2.62</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Granted</td> <td style="vertical-align:bottom;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">740,000</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:10%">4.47</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:10%">200,000</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:10%">3.31</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Mako replacement options**</td> <td style="vertical-align:bottom;text-align:left;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:10%;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:10%;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:10%;background-color:#e6efff">1,181,950</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:10%;background-color:#e6efff">2.49</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Exercised</td> <td style="vertical-align:bottom;text-align:left"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(500,966</td> <td style="vertical-align:bottom;text-align:left">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">3.04</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">(1,767,853</td> <td style="vertical-align:bottom;text-align:left">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">1.95</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:#e6efff">Forfeited</td> <td style="vertical-align:bottom;text-align:left;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;background-color:#e6efff">(30,000</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">4.47</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;background-color:#e6efff">(45,000</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">2.13</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Expired</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(279,750</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">4.02</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right">(1,500,551</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:10%">3.18</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">Ending balance</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#e6efff"> </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:10%;background-color:#e6efff">1,734,334</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> <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:10%;background-color:#e6efff">C$3.25</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> <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:10%;background-color:#e6efff">1,805,050</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> <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:10%;background-color:#e6efff">C$2.83</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:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Options exercisable</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left"> </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:10%">845,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">C$2.36</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">1,429,217</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">C$2.88</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:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">Weighted average remaining contractual life (in years)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;background-color:#e6efff"> </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:10%;background-color:#e6efff">3.14</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> <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:10%;background-color:#e6efff"> </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> <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:10%;background-color:#e6efff">2.77</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> <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:10%;background-color:#e6efff"> </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> </table> </div> </div> </div>

1805050

2.83

3736504

2.62

740000

4.47

200000

3.31

0 0 1181950 2.49

500966

3.04

1767853

1.95

30000

4.47

45000

2.13

279750

4.02

1500551

3.18

1734334

3.25

1805050

2.83

845166

2.36

1429217

2.88

P3Y1M20D

P2Y9M7D

4.55 3.27 1276000 272000

0.0278

0.0378

0.5824

0.6105

2.9

592000

279000

586985

1089019

509285

3651

395720

0 33590

72724

1092619

586985

291666 0 1674000 0

708000

543000

315640

386240

145000

90600

70600

370040

315640

476000 0

673000

199000

<div> <div style="margin-left:22.3pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap">For the year ended</td> <td colspan="5" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="6" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2024</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000;padding-left:5pt;padding-right:5pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of warrants</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">WAEP*</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">Number of warrants</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">WAEP*</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;background-color:#e6efff">Opening balance</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">837,807</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:10%;background-color:#e6efff">C$2.50</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:10%;background-color:#e6efff">C$-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom">Mako replacement warrants**</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">-</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:10%">-</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:10%">841,503</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:10%">2.50</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;background-color:#e6efff">Exercised</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff">(793,807</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">2.50</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;background-color:#e6efff">(3,696</td> <td style="vertical-align:bottom;text-align:left;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:10%;background-color:#e6efff">2.50</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt">Expired</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right">(44,000</td> <td style="vertical-align:bottom;text-align:left">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:10%">2.50</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:10%"> </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:10%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5pt;padding-left:5pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">Ending balance</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:10%;background-color:#e6efff">-</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> <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:10%;background-color:#e6efff">C$-</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> <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:10%;background-color:#e6efff">837,807</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> <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:10%;background-color:#e6efff">C$2.50</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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;padding-left:5pt;padding-right:5pt;border-bottom:0.75pt solid #000000">Weighted average remaining contractual life</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:10%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%">0.38 years</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </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:10%"> </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> </table> </div> </div>

837807

2.5

0 0 841503 2.5

793807

2.5

3696

2.5

44000

2.5

837807

2.5

P0Y4M17D

0.0405

0.5755

0.9

<div style="margin-left:49.6pt"> <div> <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;white-space:nowrap;border-top-width:0.75pt;border-bottom:0.75pt solid #000000;vertical-align:middle;border-top-style:solid;border-top-color:#000000">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31, 2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31, 2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Director fees</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">444</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">265</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Salaries, consulting and management fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,569</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%">2,071</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Share-based compensation</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">1,551</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">855</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">3,564</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">3,191</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">As at December 31,</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Amount included in accounts payable and accrued liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">9</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">303</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

444000 265000

1569000

2071000

1551000

855000

3564000

3191000

9000 303000 61 782 51000 468000 0 384000

10000

70000

0.02

2366000

975000

773000

432000

1000000 17661 0

1875000

10719000

15000000

46000

9000

96000 38000

9000

<div> 16. SEGMENTED INFORMATION Reportable segments are consistent with the geographic regions in which the Company's projects are located. In determining the Company's segment structure, the basis on which management reviews the financial and operational performance was considered and whether any of the Company's mining operations share similar economic, operational and regulatory characteristics. The Company considers its San Albino Mine in Nicaragua, its Moss Mine in the United States and its Eagle Mountain Project in Guyana as its reportable segments. The corporate headquarters include operations in Canada and the United States and is presented for reconciliation purposes. For the year ended December 31, 2025, and 2024, the Company's principal product was gold (99%) and silver (1%) sold to refineries (three customers) at spot market prices. The Company's segments are summarized as follows: <div> <div style="margin-left:21.3pt"> <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;white-space:nowrap;vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Nicaragua</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">USA</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Guyana</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total Operating Segments</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom">For the year ended December 31, 2025:</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Revenue</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">126,607</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">21,865</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">148,472</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">148,472</td> <td style="vertical-align:bottom;border-top: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;text-indent:9pt">Production costs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(49,885</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:8%">(15,588</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:8%">-</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:8%">(65,473</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:8%">-</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:8%">(65,473</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:13.65pt;vertical-align:bottom;text-indent:0.7pt;background-color:#e6efff">Depreciation, depletion and amortization</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(7,982</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:8%;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:8%;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:8%;background-color:#e6efff">(7,982</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:8%;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:8%;background-color:#e6efff">(7,982</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:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-indent:9pt">Gross profit</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:8%">68,740</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">6,277</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">75,017</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">75,017</td> <td style="vertical-align:bottom;border-top: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;text-indent:9pt;background-color:#e6efff">Exploration and evaluation 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:8%;background-color:#e6efff">(5,110</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:8%;background-color:#e6efff">(201</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:8%;background-color:#e6efff">(4,052</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:8%;background-color:#e6efff">(9,363</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:8%;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:8%;background-color:#e6efff">(9,363</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:5.4pt;vertical-align:bottom;text-indent:9pt">General and administrative expenses</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">(178</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:8%">-</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:8%">(178</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:8%">(10,630</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:8%">(10,808</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-indent:9pt;background-color:#e6efff">Other income (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:8%;background-color:#e6efff">73</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:8%;background-color:#e6efff">(299</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:8%;background-color:#e6efff">(29</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:8%;background-color:#e6efff">(255</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:8%;background-color:#e6efff">105</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:8%;background-color:#e6efff">(150</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:5.4pt;vertical-align:bottom;text-indent:9pt">Income and deferred taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(20,956</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:8%">-</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:8%">-</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:8%">(20,956</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:8%">-</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:8%">(20,956</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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Income for the period</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">42,747</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">5,599</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(4,081</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">44,265</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(10,525</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">33,740</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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;text-indent:9pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Total assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">105,044</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">31,836</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">38,949</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">175,829</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">32,616</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">208,445</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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-bottom:0.75pt solid #000000;text-indent:9pt">Total liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(35,147</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(18,384</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(1,569</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(55,100</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(2,612</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(57,712</td> <td style="vertical-align:bottom;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-bottom:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Capital expenditures</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:8%;background-color:#e6efff">9,993</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:8%;background-color:#e6efff">7,720</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:8%;background-color:#e6efff">189</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:8%;background-color:#e6efff">17,902</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:8%;background-color:#e6efff">45</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:8%;background-color:#e6efff">17,947</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div></div> <div style="margin-left:21.3pt"> <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;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Nicaragua</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">USA</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Guyana</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total Operating Segments</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">For the year ended December 31, 2024:</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-indent:9pt;background-color:#e6efff">Revenue</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">92,076</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:8%;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:8%;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:8%;background-color:#e6efff">92,076</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:8%;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:8%;background-color:#e6efff">92,076</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:5.4pt;vertical-align:bottom;text-indent:9pt">Production costs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(38,222</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:8%">-</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:8%">-</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:8%">(38,222</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:8%">-</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:8%">(38,222</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:13.65pt;vertical-align:bottom;text-indent:0.7pt;background-color:#e6efff">Depreciation, depletion and amortization</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(7,469</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:8%;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:8%;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:8%;background-color:#e6efff">(7,469</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:8%;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:8%;background-color:#e6efff">(7,469</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:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-indent:9pt">Gross profit</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:8%">46,385</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">46,385</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">46,385</td> <td style="vertical-align:bottom;border-top: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;text-indent:9pt;background-color:#e6efff">Exploration and evaluation 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:8%;background-color:#e6efff">(1,948</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:8%;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:8%;background-color:#e6efff">(1,315</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:8%;background-color:#e6efff">(3,263</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:8%;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:8%;background-color:#e6efff">(3,263</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:5.4pt;vertical-align:bottom;text-indent:9pt">General and administrative expenses</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">-</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:8%">-</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:8%">-</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:8%">(8,649</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:8%">(8,649</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-indent:9pt;background-color:#e6efff">Other income (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:8%;background-color:#e6efff">(407</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:8%;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:8%;background-color:#e6efff">(64</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:8%;background-color:#e6efff">(471</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:8%;background-color:#e6efff">(4,653</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:8%;background-color:#e6efff">(5,124</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:5.4pt;vertical-align:bottom;text-indent:9pt">Income and deferred taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(10,197</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:8%">-</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:8%">-</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:8%">(10,197</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:8%"> </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:8%">(10,197</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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Income for the period</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">33,833</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(1,379</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">32,454</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(13,302</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">19,152</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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;text-indent:9pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Total assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">66,256</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">38,617</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">104,873</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2,209</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">107,082</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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-bottom:0.75pt solid #000000;text-indent:9pt">Total liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(20,629</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(1,431</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(22,060</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(8,099</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(30,159</td> <td style="vertical-align:bottom;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-bottom:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Capital expenditures</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:8%;background-color:#e6efff">14,997</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:8%;background-color:#e6efff">-</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:8%;background-color:#e6efff">20</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:8%;background-color:#e6efff">15,017</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:8%;background-color:#e6efff">4</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:8%;background-color:#e6efff">15,021</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div>

0.99 0.01

<div> <div style="margin-left:21.3pt"> <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;white-space:nowrap;vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Nicaragua</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">USA</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Guyana</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total Operating Segments</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom">For the year ended December 31, 2025:</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Revenue</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">126,607</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">21,865</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">148,472</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">148,472</td> <td style="vertical-align:bottom;border-top: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;text-indent:9pt">Production costs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(49,885</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:8%">(15,588</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:8%">-</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:8%">(65,473</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:8%">-</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:8%">(65,473</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:13.65pt;vertical-align:bottom;text-indent:0.7pt;background-color:#e6efff">Depreciation, depletion and amortization</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(7,982</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:8%;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:8%;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:8%;background-color:#e6efff">(7,982</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:8%;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:8%;background-color:#e6efff">(7,982</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:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-indent:9pt">Gross profit</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:8%">68,740</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">6,277</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">75,017</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">75,017</td> <td style="vertical-align:bottom;border-top: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;text-indent:9pt;background-color:#e6efff">Exploration and evaluation 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:8%;background-color:#e6efff">(5,110</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:8%;background-color:#e6efff">(201</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:8%;background-color:#e6efff">(4,052</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:8%;background-color:#e6efff">(9,363</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:8%;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:8%;background-color:#e6efff">(9,363</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:5.4pt;vertical-align:bottom;text-indent:9pt">General and administrative expenses</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">(178</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:8%">-</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:8%">(178</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:8%">(10,630</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:8%">(10,808</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-indent:9pt;background-color:#e6efff">Other income (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:8%;background-color:#e6efff">73</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:8%;background-color:#e6efff">(299</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:8%;background-color:#e6efff">(29</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:8%;background-color:#e6efff">(255</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:8%;background-color:#e6efff">105</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:8%;background-color:#e6efff">(150</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:5.4pt;vertical-align:bottom;text-indent:9pt">Income and deferred taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(20,956</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:8%">-</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:8%">-</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:8%">(20,956</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:8%">-</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:8%">(20,956</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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Income for the period</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">42,747</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">5,599</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(4,081</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">44,265</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(10,525</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">33,740</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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;text-indent:9pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Total assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">105,044</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">31,836</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">38,949</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">175,829</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">32,616</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">208,445</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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-bottom:0.75pt solid #000000;text-indent:9pt">Total liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(35,147</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(18,384</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(1,569</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(55,100</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(2,612</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(57,712</td> <td style="vertical-align:bottom;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-bottom:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Capital expenditures</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:8%;background-color:#e6efff">9,993</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:8%;background-color:#e6efff">7,720</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:8%;background-color:#e6efff">189</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:8%;background-color:#e6efff">17,902</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:8%;background-color:#e6efff">45</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:8%;background-color:#e6efff">17,947</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div></div> <div style="margin-left:21.3pt"> <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;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Nicaragua</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">USA</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Guyana</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total Operating Segments</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Corporate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">Total</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td colspan="3" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">For the year ended December 31, 2024:</td> <td colspan="1" style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);border-top:0.75pt solid rgb(0, 0, 0);text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-indent:9pt;background-color:#e6efff">Revenue</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">92,076</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:8%;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:8%;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:8%;background-color:#e6efff">92,076</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:8%;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:8%;background-color:#e6efff">92,076</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:5.4pt;vertical-align:bottom;text-indent:9pt">Production costs</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(38,222</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:8%">-</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:8%">-</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:8%">(38,222</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:8%">-</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:8%">(38,222</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:13.65pt;vertical-align:bottom;text-indent:0.7pt;background-color:#e6efff">Depreciation, depletion and amortization</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:8%;background-color:#e6efff">(7,469</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:8%;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:8%;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:8%;background-color:#e6efff">(7,469</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:8%;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:8%;background-color:#e6efff">(7,469</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:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-indent:9pt">Gross profit</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:8%">46,385</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">46,385</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </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:8%">46,385</td> <td style="vertical-align:bottom;border-top: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;text-indent:9pt;background-color:#e6efff">Exploration and evaluation 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:8%;background-color:#e6efff">(1,948</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:8%;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:8%;background-color:#e6efff">(1,315</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:8%;background-color:#e6efff">(3,263</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:8%;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:8%;background-color:#e6efff">(3,263</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:5.4pt;vertical-align:bottom;text-indent:9pt">General and administrative expenses</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">-</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:8%">-</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:8%">-</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:8%">-</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:8%">(8,649</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:8%">(8,649</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-indent:9pt;background-color:#e6efff">Other income (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:8%;background-color:#e6efff">(407</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:8%;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:8%;background-color:#e6efff">(64</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:8%;background-color:#e6efff">(471</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:8%;background-color:#e6efff">(4,653</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:8%;background-color:#e6efff">(5,124</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:5.4pt;vertical-align:bottom;text-indent:9pt">Income and deferred taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%">(10,197</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:8%">-</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:8%">-</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:8%">(10,197</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:8%"> </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:8%">(10,197</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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Income for the period</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">33,833</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(1,379</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">32,454</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">(13,302</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">19,152</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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;text-indent:9pt"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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:8%"> </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;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Total assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">66,256</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">38,617</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">104,873</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">2,209</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:8%;background-color:#e6efff">107,082</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top: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-bottom:0.75pt solid #000000;text-indent:9pt">Total liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(20,629</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(1,431</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(22,060</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(8,099</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:8%">(30,159</td> <td style="vertical-align:bottom;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-bottom:0.75pt solid #000000;text-indent:9pt;background-color:#e6efff">Capital expenditures</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:8%;background-color:#e6efff">14,997</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:8%;background-color:#e6efff">-</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:8%;background-color:#e6efff">20</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:8%;background-color:#e6efff">15,017</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:8%;background-color:#e6efff">4</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:8%;background-color:#e6efff">15,021</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

126607000

21865000

148472000

49885000 15588000 0 65473000 0 65473000

7982000

68740000

6277000

75017000

5110000

201000

4052000

9363000

178000

10630000

10808000

73000

-299000

-29000

-255000

105000

-150000

20956000

42747000

5599000

-4081000

44265000

-10525000

33740000

105044000

31836000

38949000

175829000

32616000

208445000

35147000

18384000

1569000

55100000

2612000

57712000

9993000 7720000 189000 17902000 45000 17947000

92076000

38222000 0 0 38222000 0 38222000

7469000

46385000

1948000

1315000

3263000

8649000

-407000

-64000

-471000

-4653000

-5124000

10197000

33833000

-1379000

32454000

-13302000

19152000

66256000

38617000

104873000

2209000

107082000

20629000

1431000

22060000

8099000

30159000

14997000 0 20000 15017000 4000 15021000

54000

-79000

-8531000

-5845000

-1347000

-143000

12661000

4078000

-303000 290000

-2534000

1699000

461000 993000 99000 1540000

<div> 18. GENERAL AND ADMINISTRATIVE EXPENSES <div> <div> <div style="margin-left:21.3pt"> <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;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accounting and legal</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,171</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">984</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Consulting fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">66</td> <td style="vertical-align:bottom;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="vertical-align:bottom;text-align:right;width:12%">62</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Directors' 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">443</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">265</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">136</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%">127</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">General office expenses</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">404</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">189</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Insurance</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">457</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%">470</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Investor relations and communications</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">182</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">184</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Rent</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">42</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%">6</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Salaries and benefits</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">5,474</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">4,883</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Stock-based compensation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,973</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%">1,022</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Telephone and IT services</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">123</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">188</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Transfer agent fees and regulatory fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">99</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%">88</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Travel</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">238</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">181</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">10,808</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">8,649</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> </div>

<div> <div> <div style="margin-left:21.3pt"> <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;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:center;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;text-align:right;border-top:0.75pt solid rgb(0, 0, 0);white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accounting and legal</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">1,171</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">984</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Consulting fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">66</td> <td style="vertical-align:bottom;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="vertical-align:bottom;text-align:right;width:12%">62</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Directors' 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">443</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">265</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Depreciation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">136</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%">127</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">General office expenses</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">404</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">189</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Insurance</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">457</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%">470</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Investor relations and communications</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">182</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">184</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Rent</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">42</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%">6</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Salaries and benefits</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">5,474</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">4,883</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Stock-based compensation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,973</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%">1,022</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Telephone and IT services</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">123</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">188</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Transfer agent fees and regulatory fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">99</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%">88</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Travel</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">238</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">181</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">10,808</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">8,649</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> </div> 1171000 984000

66000

62000

443000

265000

136000

127000

404000 189000

457000

470000

182000 184000

42000

6000

5474000

4883000

1973000

1022000

123000

188000

99000 88000

238000

181000

10808000

8649000

<div> 19. ACCRETION AND INTEREST EXPENSE <div> <div style="margin-left:21.3pt"> <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;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;white-space:nowrap">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Accretion on asset retirement obligation (Note 13)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">588</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">194</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Accretion on the Wexford Loan (Note 12 (a))</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">231</td> <td style="vertical-align:bottom;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="vertical-align:bottom;text-align:right;width:12%">123</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Interest expense - Wexford Loan (Note 12(a))</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">519</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">631</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Interest expense - other</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">262</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%">23</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,600</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">971</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div>

262000

23000

1600000 971000

<div> 20. INCOME TAX EXPENSE AND DEFERRED TAXES (a) The income tax expense or recovery reported by the Company differs from the amounts obtained by applying the statutory income tax rates to the income or loss. A reconciliation of the income tax provision computed at statutory rates to the reported income tax expense is provided below: <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;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Income for the year before income tax</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">54,696</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">29,349</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">Canadian statutory tax rate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27.0%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27.0%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Computed expected tax expense at statutory rates</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">14,768</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">7,924</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Permanent differences</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,063</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%">249</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Effect of change and difference in tax rate</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">1,949</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">1,472</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Foreign exchange</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(520</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%">814</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses</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">1,817</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">1,167</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Change in unrecognized deferred tax assets</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(121</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%">(1,429</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">20,956</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">10,197</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Current income tax expense</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">17,218</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">6,973</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Deferred income tax expense</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">3,738</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;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="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,224</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">Total income tax expense</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">20,956</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">10,197</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> (b) The significant components of the Company's net deferred income tax asset and liabilities are 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-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Deferred tax assets:</td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Non-capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">28,077</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,405</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Allowable Capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">2,225</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%">2,670</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Share issuance costs and finance 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">459</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">11</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Mineral property, plant and equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">589</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%">1,076</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000"> Other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">4,914</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">1,774</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Total deferred tax assets</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">36,264</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">12,936</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Deferred tax liabilities:</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> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Exploration and evaluation assets</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">(4,656</td> <td style="vertical-align:bottom;text-align:left;width:2%;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="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(493</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> Other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(3,926</td> <td style="vertical-align:bottom;border-bottom: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;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(2,868</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Total deferred tax liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(8,582</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(3,361</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Unrecognized deferred tax assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(34,644</td> <td style="vertical-align:bottom;border-bottom: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="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(12,799</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">Net deferred tax liability</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(6,962</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(3,224</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table> </div> <div></div> (c) The Company recognizes tax benefits on losses or other deductible amounts generated in countries where it is probable the Company will generate future taxable income. The Company's unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts: <div style="margin-left:36pt"> <div> <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;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Temporary differences</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Non-Capital losses available for future years</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">99,462</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%">27,425</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Allowable capital losses</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">16,656</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">19,949</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Share issuance costs and financing fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,699</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%">41</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Mineral property, plant and equipment</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">3,945</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">3,755</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Exploration and evaluation assets</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4,183</td> <td style="vertical-align:bottom;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="vertical-align:bottom;text-align:right;width:12%">559</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Other</td> <td style="vertical-align:bottom;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">17,265</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;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="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,462</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Unrecognized deductible temporary differences</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">143,210</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">58,191</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> (d) The Company's unused non-capital losses in Canada of $27,195 are set to expire between 2027 and 2046. </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;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Income for the year before income tax</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">54,696</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">29,349</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000">Canadian statutory tax rate</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27.0%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">27.0%</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Computed expected tax expense at statutory rates</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">14,768</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">7,924</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Permanent differences</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">3,063</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%">249</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Effect of change and difference in tax rate</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">1,949</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">1,472</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Foreign exchange</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(520</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%">814</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;background-color:#e6efff">Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses</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">1,817</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">1,167</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Change in unrecognized deferred tax assets</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">(121</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%">(1,429</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">20,956</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">10,197</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Current income tax expense</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">17,218</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">6,973</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Deferred income tax expense</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">3,738</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;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="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,224</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">Total income tax expense</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">20,956</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">10,197</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

54696000

29349000

0.27

14768000

7924000

3063000

249000

1949000

1472000

-520000

814000

1817000 1167000 -121000 -1429000

20956000

10197000

17218000

6973000

3738000

3224000

20956000

10197000

<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;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000">For the year ended</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Deferred tax assets:</td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Non-capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">28,077</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,405</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Allowable Capital losses</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">2,225</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%">2,670</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Share issuance costs and finance 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">459</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">11</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Mineral property, plant and equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">589</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%">1,076</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000"> Other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">4,914</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff;border-bottom:0.75pt solid #000000">1,774</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff;border-bottom:0.75pt solid #000000"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Total deferred tax assets</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">36,264</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%">12,936</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Deferred tax liabilities:</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> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left"> </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="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Exploration and evaluation assets</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">(4,656</td> <td style="vertical-align:bottom;text-align:left;width:2%;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="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(493</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> Other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(3,926</td> <td style="vertical-align:bottom;border-bottom: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;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(2,868</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Total deferred tax liabilities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(8,582</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(3,361</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Unrecognized deferred tax assets</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(34,644</td> <td style="vertical-align:bottom;border-bottom: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="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(12,799</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">Net deferred tax liability</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(6,962</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(3,224</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> </table> </div>

28077000

7405000

2225000

2670000

459000

11000

589000

1076000

4914000

1774000

36264000

12936000

4656000

493000

3926000

2868000

8582000

3361000

34644000

12799000

6962000

3224000

<div style="margin-left:36pt"> <div> <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;white-space:nowrap;border-top:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">December 31,</td> <td style="vertical-align:bottom;border-top:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;white-space:nowrap;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2025</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap">2024</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid rgb(0, 0, 0);text-align:right;white-space:nowrap"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Temporary differences</td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:center"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Non-Capital losses available for future years</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">99,462</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%">27,425</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Allowable capital losses</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">16,656</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">19,949</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Share issuance costs and financing fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">1,699</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%">41</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Mineral property, plant and equipment</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">3,945</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">3,755</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> Exploration and evaluation assets</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">4,183</td> <td style="vertical-align:bottom;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="vertical-align:bottom;text-align:right;width:12%">559</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> Other</td> <td style="vertical-align:bottom;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">17,265</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;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="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,462</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">Unrecognized deductible temporary differences</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">143,210</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;width:1%;text-align:left;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:right;width:12%">58,191</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;border-top:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

99462000

27425000

16656000

19949000

1699000

41000

3945000

3755000

4183000

559000

17265000

6462000

143210000

58191000

27195000

28498000

0.05 78000 0.05 10000

40000000

341.7 ounces of refined gold per month 738000 1011000 2,700/oz 3,700/oz 100 ounces of refined gold per month 0.20