March 31, 2026

December 31, 2025

Compensation and incentives

$

2,292

$

1,052,226

Professional services

2,764,239

466,060

Deposits

—

525,000

Accrued interest

2,419

3,226

Exploration license fees

8,111,702

7,799,508

Total accrued expenses

$

10,880,652

$

9,846,020