v3.26.1
Expenses By Nature
 12 Months Ended
Dec. 31, 2025
Expenses By Nature [Abstract]  
EXPENSES BY NATURE
22.EXPENSES BY NATURE

 

(a)Exploration and evaluation

 

Exploration and evaluation expense is made up of the following:

 

   For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		 
   $   $ 
Drilling services   11,296,862    6,263,964 
Option payments and fees (i)   6,010,405    2,281,550 
Salaries and benefits   3,295,845    2,449,153 
Field costs, surveys and other   2,638,594    1,726,830 
Consulting and professional fees   1,402,587    914,448 
Studies and technical evaluations   1,138,494    
–
 
Assaying   2,189,710    1,757,368 
Transportation and meals   1,743,550    1,125,148 
Communities   1,261,205    587,234 
Security   603,480    328,931 
Geophysics   197,824    334,764 
Depreciation and amortization   711,612    295,475 
    32,490,168    18,064,865 

 

i.For the year ended December 31, 2025, the Company recognized option payments of $4,709,252 (year ended December 31, 2024 - $1,956,316).

 

(b)General and administration

 

General and administration expense is made up of the following:

 

   For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		 
   $   $ 
Salaries and benefits   2,981,326    1,885,728 
Share-based compensation   2,785,614    1,167,109 
Consulting and professional fees   1,515,946    798,818 
Travel and entertainment   608,196    442,747 
Insurance   450,252    173,729 
Office administration   384,534    265,786 
Regulatory and compliance fees   353,919    582,199 
Investor relations   222,926    343,722 
Directors’ fees and expenses   116,077    64,042 
Depreciation and amortization   97,498    44,382 
    9,516,288    5,768,262 
(c)Finance costs

 

Finance costs is made up of the following:

 

   For the
year ended
December 31,
2025		   For the
year ended
December 31,
2024		 
   $   $ 
Finance issue expense (i)   
–
    65,849 
Interest accretion expense (ii)   702,605    50,126 
Other finance expenses   170,943    73,856 
    873,548    189,831 

 

i.Represents the portion of the March 2024 Offering financing costs allocated to the Subscription Warrants.

 

ii.Interest accretion expense or amortization of the discount is in respect of the lease liability and other long-term liabilities (See Note 13 and Note 14).