15.  SUBSEQUENT EVENTS

1) On August 5, 2025, the Company announced the results of the pre-feasibility study for its Yerington Copper Project.

2) In August 2025, 130,598 stock options were exercised for total proceeds of $7.

3) On July 24, 2025, FCC issued $4,065 in convertible debentures at a 10% discount. The debentures are  convertible into common shares of FCC and mature nine months from the issue date. Each debenture holder received  bonus preferred shares equal to 20% of the debenture’s face value.

The conversion price is the lowest of:

a) The price per share equal to a 20% discount to the Qualified Financing price;

b) The price per share equal to the Valuation Cap divided by the number of shares of Common Shares and Preferred Shares outstanding; and

c) A 20% discount to the 5-day VWAP of the common shares at the closing of the 5^th trading day after being quoted on a US national securities exchange.

4)    On July 15, 2025, FCC granted 25,000,000 performance warrants exercisable at $0.12 until July 15, 2030, with following vestings:

a)    18,000,000 upon engagement by FCC of a Tier 1 Washington D.C. lobbying firm;

b)    1,500,000 upon completion of the Blue Copper Phase 1 drill program;

c)    1,000,000 upon the early execution of the entirety of the warrants existing as of March 31, 2025;

d)    3,000,000 upon the completion of a US initial public offering; and

e)    1,500,000 upon completion of Cabin and Muncy phase 1 drill programs.