v3.26.1
Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2025
CAD ($)
Dec. 31, 2024
CAD ($)
Cash Flows from Operating Activities    
Net loss $ (19,722,261) $ (11,445,652)
Adjustments for non-cash items:    
Accretion of asset retirement obligations 1,066,100 920,583
Accretion of discount and interest expense on loan payable 1,777,174 861,123
Depreciation 9,129 3,877
Foreign exchange (1,056,653) (1,173,049)
Impairment of exploration and evaluation assets 378,605
Share-based compensation 3,297,085
Unrealized loss on marketable securities 14,153 10,943
Write-off of accounts payable (67)
Changes in non-cash working capital:    
Receivables (7,987) (6,197)
Prepaids and deposits (463,542) 518,843
Accounts payable and accrued liabilities 663,336 1,701,743
Due to related parties 55,013 122,048
Net cash flows used in operating activities (14,368,453) (8,107,200)
Cash Flows from Investing Activities    
Acquisition of exploration and evaluation assets (568,136) (136,633)
Investment income from reclamation bond reinvested (658,177)
Purchase of property and equipment (600,253)
Reclamation deposit (747,784) (801,744)
Security deposits paid for property and equipment (1,645,476)
Net cash flows used in investing activities (4,219,826) (938,377)
Cash Flows from Financing Activities    
Proceeds from share issuances 15,000,000
Proceeds from exercise of warrants 3,809,385 2,026,937
Deferred financing costs (272,226)
Refund of share issuance costs 22,906
Repayment of loan payable and interest (6,161,721)
Proceeds from loan payable, net 8,212,407 5,899,864
Proceeds from related party loan payable 1,485,000
Repayment of related party loan payable (1,650,000)
Net cash flows from financing activities 20,587,845 7,784,707
Increase (decrease) in cash 1,999,566 (1,260,870)
Cash, beginning 1,350,411 2,611,281
Cash, ending 3,349,977 1,350,411
Non-cash Investing and Financing Activities:    
Deferred financing costs included in accounts payable 347,536
Fair value of warrants reclassified to share capital upon exercise 338,854
Fair value of warrants issued for Credit Facility 532,967
Fair value of warrants issued upon modification of Credit Facility 250,109
Stock options expired unexercised or cancelled 912,566
Shares issued for exploration and evaluation assets $ 763,768 $ 1,050,000