NOTE 4 - Property and Equipment

As of June 30, 2025 and December 31, 2024, the Company's property and equipment consists of the following:

	Estimated  Useful Life		June 30,  2025			December 31,  2024
	Years		$			$
Land			418,884			418,884
Building	39		1,423,810			1,423,810
Furniture and equipment	3 to 5		961,875			961,655
Right-of-use ("ROU") assets	2 to 5		274,564			326,946
			3,079,133			3,131,295
Less: accumulated depreciation			(978,744	)		(883,573	)
Property and equipment, net			2,100,389			2,247,722

Depreciation expense for the three and six months ended June 30, 2025 and 2024 is included in exploration expenses and general and administrative expenses. ROU assets are amortized on a straight-line basis for the remaining lives of their respective lease terms.

At June 30, 2025, the Company has three agreements for office and building space in Rapid City, South Dakota and Vancouver, British Columbia, Canada, all of which have been determined to be operating leases. The lease agreements do not contain extension options. For measurement of the original lease liability and ROU asset, the Company applied a discount rate of 11.66% based on the Company's estimated incremental borrowing rate. During the three and six months ended June 30, 2025, the Company recognized rent expense of $0.04 million and $0.09 million, respectively, which is included in general and administrative and exploration expenses, on the condensed consolidated interim statements of operations. The weighted average remaining lease term for operating leases as of June 30, 2025 was 1.6 years. At June 30, 2025 and December 31, 2024, the remaining undiscounted lease payments under these lease agreements totaled approximately $0.34 million and $0.40 million, respectively.