| Schedule of summary of the carrying costs of acquisition costs and exploration expenditures incurred to date for each exploration and evaluation asset |
| (a) | Exploration and evaluation assets |
| | | | | | | | | | | | Newfoundland | | | Queensway | | Others | | Total | Balance, December 31, 2023 | | $ | 9,014,478 | | $ | 78,709 | | $ | 9,093,187 | Acquisition costs – Kingsway Project | | | 20,088,541 | | | — | | | 20,088,541 | Expenditure target payment – Kingsway Project | | | 750,000 | | | — | | | 750,000 | Acquisition costs – royalty purchases and other claims | | | 4,522,707 | | | 35,499 | | | 4,558,206 | Claim staking and license renewal costs | | | 15,250 | | | 300 | | | 15,550 | Balance, December 31, 2024 | | | 34,390,976 | | | 114,508 | | | 34,505,484 | Claim staking, option payments and license renewal costs | | | 377,988 | | | 41,382 | | | 419,370 | Acquisition cost - Maritime Resources Corp. | | | — | | | 29,929,410 | | | 29,929,410 | Acquisition cost – Exploits | | | 12,548,526 | | | — | | | 12,548,526 | Acquisition cost – Other claims | | | 261,232 | | | — | | | 261,232 | Balance, December 31, 2025 | | $ | 47,578,722 | | $ | 30,085,300 | | $ | 77,664,022 |
| (b) | Exploration and evaluation expenses |
| | | | | | | | | | | | Newfoundland | | | Queensway | | Others | | Total | Cumulative exploration expense, December 31, 2023 | | $ | 215,285,192 | | $ | 574,857 | | $ | 215,860,049 | Assaying and metallurgical testing | | | 7,206,656 | | | — | | | 7,206,656 | Drilling | | | 23,828,589 | | | — | | | 23,828,589 | Trenching | | | 2,932,976 | | | — | | | 2,932,976 | Environmental, permitting and reclamation | | | 3,348,316 | | | — | | | 3,348,316 | Geological and geophysical studies | | | 1,150,853 | | | 350 | | | 1,151,203 | Personnel, consulting and overheads | | | 11,978,431 | | | 488 | | | 11,978,919 | Technical studies and resource evaluation | | | 511,969 | | | — | | | 511,969 | Property holding and other costs | | | 1,604,712 | | | — | | | 1,604,712 | | | | 52,562,502 | | | 838 | | | 52,563,340 | Cumulative exploration expense, December 31, 2024 | | | 267,847,694 | | | 575,695 | | | 268,423,389 | Assaying and metallurgical testing | | | 5,089,668 | | | — | | | 5,089,668 | Drilling | | | 15,995,380 | | | — | | | 15,995,380 | Trenching | | | 499,146 | | | — | | | 499,146 | Environmental, permitting and reclamation | | | 1,026,461 | | | — | | | 1,026,461 | Geological and geophysical studies | | | 1,638,692 | | | 135,402 | | | 1,774,094 | Personnel, consulting and overheads | | | 11,592,629 | | | — | | | 11,592,629 | Technical studies and resource evaluation | | | 3,350,234 | | | 30,734 | | | 3,380,968 | Property holding and other costs | | | 2,022,061 | | | — | | | 2,022,061 | | | | 41,214,271 | | | 166,136 | | | 41,380,407 | Cumulative exploration expense, December 31, 2025 | | $ | 309,061,965 | | $ | 741,831 | | $ | 309,803,796 |
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