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<kbd style="position:absolute;font:10pt Times New Roman;margin-left:0pt">1.</kbd><kbd style="margin-left:36pt"></kbd>CORPORATE INFORMATION Pacific Booker Minerals Inc. (the “Company”) was incorporated in the Province of British Columbia on February 18, 1983, under the Business Corporation Act of British Columbia. On February 8, 2000, the Company changed its name to “Pacific Booker Minerals Inc.” from Booker Gold Explorations Limited The address of the Company’s corporate office and principal place of business is located at Suite #1203 - 1166 Alberni Street, Vancouver, British Columbia, Canada. The Company’s principal business activity is the exploration of its mineral property interests, with its principal mineral property interests located in Canada. The Company is listed on the TSX Venture Exchange (“TSX-V”) under the symbol “BKM” and was listed on the NYSE MKT Equities Exchange (“NYSE MKT”) under the symbol “PBM” until voluntary delisting on April 29, 2016. 1983-02-18 2000-02-08 Suite #1203 - 1166 Alberni Street Vancouver BC

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(b)</kbd><kbd style="margin-left:72pt"></kbd>Going concern of operations These Financial Statements have been prepared on the basis of the accounting principles applicable to a going concern, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. A going concern in accounting is a term that indicates whether or not the entity can continue in business for the next fiscal year. Indicators against a “going concern” are negative cash flows from operations, consecutive losses from operations, and an accumulated deficit. The Company is a resource company, and must incur expenses during the process of exploring and evaluating a mineral property to prove the commercial viability of the ore body, a necessary step in the process of developing a property to the production stage. As a non-producing resource company, the Company has no operating income, cash flow is generated mostly by the sale of shares by the Company, and an accumulated deficit is the result of operations and exploration activities without production. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(b)</kbd><kbd style="margin-left:72pt"></kbd>Going concern of operations (cont’d) The Company has incurred losses and negative cash flows from operations since inception and has an accumulated deficit. The ability of the Company to continue as a going concern depends upon its ability to continue to raise adequate financing and to develop profitable operations in the future. The ability of the Company to realize the costs it has incurred to date on its mineral property interests is dependent upon the Company being able to continue to finance its exploration and evaluation costs. To date, the Company has not earned any revenue and is considered to be in the advanced exploration stage. Management has based “the ability to continue in operations” judgement on various factors including (but not limited to) the opinion of management that the Morrison project will receive the necessary certificates/permits to allow the Company to proceed with the development of the project to the production phase, that the Company’s claims are in good standing, the NI 43-101 feasibility study (completed in 2009) shows commercially viable quantities of mineral resources. There can be no assurance that the Company will be able to continue to raise funds in which case the Company may be unable to meet its obligations. Should the Company be unable to realize on its assets and discharge its liabilities in the normal course of business, the net realizable value of its assets may be materially less than the amounts recorded on the statements of financial position. These material uncertainties cast significant doubt on the Company's ability to continue as a going concern. These financial statements do not include the adjustments that would be necessary should the Company be unable to continue as a going concern. <table style="border-collapse:collapse;width:446.5pt;margin-left:36pt"><tr><td style="width:151.2pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td colspan="2" style="width:98.1pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td colspan="2" style="width:98.35pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td colspan="2" style="width:98.85pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:151.2pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:86.3pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:86.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:86.45pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:151.2pt" valign="bottom">Working capital deficiency </td><td style="width:11.8pt" valign="bottom">$ </td><td style="width:86.3pt" valign="bottom">(1,137,611) </td><td style="width:11.8pt" valign="bottom">$ </td><td style="width:86.55pt" valign="bottom">(703,010) </td><td style="width:12.4pt" valign="bottom">$ </td><td style="width:86.45pt" valign="bottom">(214,915) </td></tr> <tr><td style="width:151.2pt" valign="bottom">Loss for the year </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:86.3pt" valign="bottom">(918,474) </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:86.55pt" valign="bottom">(633,173) </td><td style="width:12.4pt" valign="bottom"> </td><td style="width:86.45pt" valign="bottom">(523,905) </td></tr> <tr><td style="width:151.2pt;border-bottom:3px double #000000" valign="bottom">Deficit </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:86.3pt;border-bottom:3px double #000000" valign="bottom">(77,905,247) </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:86.55pt;border-bottom:3px double #000000" valign="bottom">(76,986,773) </td><td style="width:12.4pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:86.45pt;border-bottom:3px double #000000" valign="bottom">(76,353,600) </td></tr> </table>

<table style="border-collapse:collapse;width:446.5pt;margin-left:36pt"><tr><td style="width:151.2pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td colspan="2" style="width:98.1pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td colspan="2" style="width:98.35pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td colspan="2" style="width:98.85pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:151.2pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:86.3pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:86.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:86.45pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:151.2pt" valign="bottom">Working capital deficiency </td><td style="width:11.8pt" valign="bottom">$ </td><td style="width:86.3pt" valign="bottom">(1,137,611) </td><td style="width:11.8pt" valign="bottom">$ </td><td style="width:86.55pt" valign="bottom">(703,010) </td><td style="width:12.4pt" valign="bottom">$ </td><td style="width:86.45pt" valign="bottom">(214,915) </td></tr> <tr><td style="width:151.2pt" valign="bottom">Loss for the year </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:86.3pt" valign="bottom">(918,474) </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:86.55pt" valign="bottom">(633,173) </td><td style="width:12.4pt" valign="bottom"> </td><td style="width:86.45pt" valign="bottom">(523,905) </td></tr> <tr><td style="width:151.2pt;border-bottom:3px double #000000" valign="bottom">Deficit </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:86.3pt;border-bottom:3px double #000000" valign="bottom">(77,905,247) </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:86.55pt;border-bottom:3px double #000000" valign="bottom">(76,986,773) </td><td style="width:12.4pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:86.45pt;border-bottom:3px double #000000" valign="bottom">(76,353,600) </td></tr> </table>

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<kbd style="position:absolute;font:10pt Times New Roman;margin-left:0pt">3.</kbd><kbd style="margin-left:36pt"></kbd>SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION The accounting policies set out below have been applied consistently, to all periods presented in these Financial Statements. The material accounting policies adopted by the Company are as follows: <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(a)</kbd><kbd style="margin-left:72pt"></kbd>Foreign currency translation The monetary assets and liabilities of the Company that are denominated in foreign currencies are translated to the functional currency at the rate of exchange at the reporting date and non-monetary items are translated using the exchange rate at the date of the transaction. Revenues and expenses are translated at the exchange rates approximating those in effect at the time of the transaction. Exchange gains and losses arising on translation are included in the statements of net loss and comprehensive loss. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(b)</kbd><kbd style="margin-left:72pt"></kbd>Cash and cash equivalents Cash includes cash on hand and demand deposits. Cash equivalents includes short-term, highly liquid investments that are readily convertible to known amounts of cash and have a maturity date of less than 90 days from the initial acquisition date of the investment and are subject to an insignificant risk of change in value. As at January 31, 2026, the Company did not have any cash equivalents. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(c)</kbd><kbd style="margin-left:72pt"></kbd>Mineral property interests and Exploration and evaluation assets All costs related to the acquisition of mineral properties are capitalized as Mineral Property interest. The recorded cost of mineral property interests is based on cash paid and the fair market value of share consideration issued for mineral property interest acquisitions. All pre-exploration costs, i.e. costs incurred prior to obtaining the legal right to undertake exploration and evaluation activities on an area of interest, are expensed as incurred. Once the legal right to explore has been acquired, exploration and evaluation expenditures are capitalized in respect of each identifiable area of interest until the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. Costs incurred include appropriate technical overheads. Exploration and evaluation assets are carried at historical cost, less any impairment losses recognized. When technical feasibility and commercial viability of extracting a mineral resource are demonstrable for an area of interest, the Company stops capitalizing exploration and evaluation costs for that area, tests recognized exploration and evaluation assets for impairment and reclassifies any unimpaired exploration and evaluation assets either as tangible or intangible mine development assets according to the nature of the assets. Mineral properties are reviewed for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. If, after management review, it is determined that the carrying amount of a mineral property is impaired, that property is written down to its estimated net realizable value. When a property is abandoned, all related costs are written off to operations. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(d)</kbd><kbd style="margin-left:72pt"></kbd>Impairment <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-27.35pt">(i)</kbd>Financial assets The Company assesses on a forward-looking basis, the expected credit losses associated with its assets, even if no actual loss events have taken place. In addition to past events and current conditions, reasonable and supportable forward-looking information that is available without undue cost or effort is considered in determining impairment. One model applies to all financial instruments subject to impairment testing. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-27.35pt">(ii)</kbd>Non-financial assets The carrying amounts of equipment, vehicles and furniture are reviewed at each reporting date to determine whether there is any indication of impairment. The carrying amounts of mining properties and exploration and evaluation assets are assessed for impairment only when indicators of impairment exist, typically when one of the following circumstances applies: <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:27pt"></kbd>Exploration rights have / will expire in the near future; <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:27pt"></kbd>No future substantive exploration expenditures are budgeted; <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:27pt"></kbd>No commercially viable quantities discovered and exploration and evaluation activities will be discontinued; or <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:27pt"></kbd>Exploration and evaluation assets are unlikely to be fully recovered from successful development or sale. If any such indication exists, then the asset’s recoverable amount is estimated. Prior to January 31, 2022, the carrying value of the exploration and evaluation assets was reflective of historical costs incurred, which may or may not reflect their eventual recoverable value. Mining properties and exploration and evaluation assets are also assessed for impairment upon the transfer of exploration and evaluation assets to development assets regardless of whether facts and circumstances indicate that the carrying amount of the exploration and evaluation assets is in excess of their recoverable amount. The recoverable amount of an asset (or cash-generating unit) is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "cash-generating unit", or "CGU"). The level identified by the group for the purposes of testing exploration and evaluation assets for impairment corresponds to each mining property. An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated to the assets in the unit (group of units) on a pro rata basis. Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(e)</kbd><kbd style="margin-left:72pt"></kbd>Restoration and close down provision The Company is required to have a bond in place in an amount determined by the Ministry of Mines to provide for the costs of reclamation of the site disturbances. This bond shows as Reclamation deposit in the assets on the statement of financial position. The reclamation obligation is generally considered to have been incurred when mine assets are constructed or the ground environment is disturbed at the project location. The Company also estimates the timing of the outlays, which is subject to change depending on continued operation or newly discovered reserves. Additional disturbances or changes in restoration obligations will be recognized when they occur. The Company has determined that it has no additional restoration obligations as at January 31, 2026. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(f)</kbd><kbd style="margin-left:72pt"></kbd>Equipment, vehicles and furniture Equipment, vehicles and furniture are recorded at cost. Depreciation is calculated on the residual value, which is the historical cost of an asset less the prior allowances made. Depreciation methods, useful life and residual value are reviewed at each financial year-end and adjusted, if appropriate. Where an item of equipment, vehicles and furniture is comprised of major components with different useful lives, the components are accounted for as separate items. The Company currently provides for depreciation annually as follows: <table style="border-collapse:collapse;margin-left:77.4pt"><tr><td style="width:192.6pt" valign="top"></td><td style="width:184.5pt" valign="top"></td></tr> <tr><td style="width:192.6pt" valign="top">Automobile </td><td style="width:184.5pt" valign="top">30% declining balance </td></tr> <tr><td style="width:192.6pt" valign="top">Computer equipment </td><td style="width:184.5pt" valign="top">30% to 45% declining balance </td></tr> <tr><td style="width:192.6pt" valign="top">Office furniture and equipment </td><td style="width:184.5pt" valign="top">20% declining balance </td></tr> </table> <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(g)</kbd><kbd style="margin-left:72pt"></kbd>Option based payments The Company has an equity settled stock option plan that grants options to buy common shares of the Company to Eligible Persons (as defined by the policies of the TSX Venture Exchange and/or National Instrument 45-106). The fair value of stock options are estimated at the measurement date, using the Black-Scholes option pricing model and recorded as option based payments expense in the statement of net loss and comprehensive loss and credited to contributed surplus within shareholders’ equity, over the vesting period of the stock options, based on the Company’s estimate of the number of stock options that will eventually vest. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(h)</kbd><kbd style="margin-left:72pt"></kbd>Private placement unit offerings The Company engages in equity financing transactions to obtain the funds necessary to continue operations. These equity financing transactions involve issuance of common shares or units (“Units”). A Unit comprises a specific number of common shares and a specific number of share purchase warrants (“Warrants”) at a set price. The Warrants are exercisable into additional common shares prior to expiry at a price and on the terms and conditions stipulated by the Financing Agreement. Warrants that are part of Units are valued using residual value method which involves comparing the selling price of the Units to the Company’s share price on the announcement date of the financing. The market value is then applied to the common share purchase (“Share Capital”), and any residual amount is assigned to the Warrants (“Warrant Reserve”). Warrants that are issued as payments for agency fees or other transaction costs are accounted for as share-based payments and are recognized in equity. Under IAS 32, these warrants are an equity instrument as they are not issued in exchange for goods or services and are exercisable for a fixed amount of cash, denominated in the functional currency. Warrants classified as equity instruments are not subsequently re-measured for changes in fair value. If a Warrant holder exercises the option to convert the Warrants into common shares, the accounting for the exercise will include the transfer of the Warrant Reserve value to the Share Capital account. The accounting for unexercised Warrants will transfer the Warrant Reserve value to the Contributed Surplus account at the date the Warrants expire unexercised. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(i)</kbd><kbd style="margin-left:72pt"></kbd>Loss per share The basic and diluted loss per share shown in these Financial Statements is calculated using the weighted-average number of common shares outstanding during the year. The weighted average number of common shares outstanding for the year ended January 31, 2026 does not include the 3,363,000 (2025 – 3,333,000; 2024 – 2,465,000) stock options outstanding as the inclusion of these amounts would reduce the loss per share amount and are therefore considered anti-dilutive. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(j)</kbd><kbd style="margin-left:72pt"></kbd>Income taxes Income tax expense comprises current and deferred tax. Income tax is recognized in the statements of net loss and comprehensive loss except to the extent it relates to items recognized in other comprehensive income or directly in equity. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-27.35pt">(i)</kbd>Current tax Current tax expense is based on the results for the period as adjusted for items that are not taxable or not deductible. Current tax is calculated using tax rates and laws that were enacted or substantively enacted at the end of the reporting period. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. Provisions are established where appropriate on the basis of amounts expected to be paid to the tax authorities. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-27.35pt">(ii)</kbd>Deferred tax Deferred taxes are the taxes expected to be payable or recoverable on the difference between the carrying amounts of assets in the statement of financial position and their corresponding tax bases used in the computation of taxable profit, and are accounted for using the statement of financial position liability method. Deferred tax liabilities are generally recognized for all taxable temporary differences between the carrying amounts of assets and their corresponding tax bases. Deferred tax assets are recognized to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilized. Such assets and liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill or from the initial recognition (other than in a business combination) of other assets in a transaction that affects neither the taxable profit nor the accounting profit. Deferred tax liabilities: <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:36pt"></kbd>are generally recognized for all taxable temporary differences; <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:36pt"></kbd>are recognized for taxable temporary differences arising on investments in subsidiaries except where the reversal of the temporary difference can be controlled and it is probable that the difference will not reverse in the foreseeable future; and <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:36pt"></kbd>are not recognized on temporary differences that arise from goodwill which is not deductible for tax purposes. Deferred tax assets: <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:36pt"></kbd>are recognized to the extent it is probable that taxable profits will be available against which the deductible temporary differences can be utilized; and <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:36pt"></kbd>are reviewed at the end of the reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of an asset to be recovered. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(k)</kbd><kbd style="margin-left:72pt"></kbd>Financial instruments The Company recognizes all financial assets initially at fair value and classifies them into one of the following measurement categories: fair value through profit or loss (“FVTPL”), fair value through other comprehensive income (“FVTOCI”) or amortized cost, as appropriate. Financial liabilities are initially recognized at fair value and classified as either FVTPL or amortized cost, as appropriate. Financial assets are derecognized when the rights to receive cash flows from the investments have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership. At each reporting date, the Company assesses whether there is objective evidence that a financial asset has been impaired. The Company had made the following classification of its financial instruments: <table style="border-collapse:collapse;width:348.85pt;margin-left:56.15pt"><tr><td style="width:231.85pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Financial asset or liability </td><td style="width:117pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Category </td></tr> <tr><td style="width:231.85pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Cash and cash equivalents </td><td style="width:117pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">amortized cost </td></tr> <tr><td style="width:231.85pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Receivables (excluding GST receivable) </td><td style="width:117pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">amortized cost </td></tr> <tr><td style="width:231.85pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Reclamation deposits </td><td style="width:117pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">amortized cost </td></tr> <tr><td style="width:231.85pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Accounts payable and accrued liabilities </td><td style="width:117pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">amortized cost </td></tr> <tr><td style="width:231.85pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">Amounts owing to related parties </td><td style="width:117pt;padding-left:2.15pt;padding-right:2.15pt" valign="top">amortized cost </td></tr> </table> Financial instruments measured at fair value are classified into one of the three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are: <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:18pt"></kbd>Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:18pt"></kbd>Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; <kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:18pt"></kbd>Level 3 – Inputs that are not based on observable market data. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(l)</kbd><kbd style="margin-left:72pt"></kbd>Equity instruments Equity instruments issued by the Company are recorded at the proceeds received net of direct issuance costs. The Company has its common shares as equity instruments. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(m)</kbd><kbd style="margin-left:72pt"></kbd>Right-of-use assets and lease liabilities Leasing activity for the Company typically involves the lease of office space. For any leases of more than 12 month duration, the Company recognizes a right-of-use asset to represent its right to use the underlying asset and the lease liabilities representing its obligation to make lease payments. On the statement of financial position, the right-of-use asset is presented net of accumulated amortization and is disclosed under right-of-use assets and is depreciated over the lease term. The lease liability is disclosed as a separate line item, allocated between current and non-current liabilities. The lease liability is measured at the present value of the expected lease payments at inception and discounted using the Company’s incremental borrowing rate. Judgement is required to determine the incremental borrowing rate. The expected life and residual values for the Company’s right of use asset as at January 31, 2026 was as follows: <table style="border-collapse:collapse;margin-left:36pt"><tr><td style="width:155.8pt" valign="top"> </td><td style="width:155.85pt" valign="middle">Expected Life </td><td style="width:155.85pt" valign="middle">Residual Value </td></tr> <tr><td style="width:155.8pt" valign="middle">Office Lease </td><td style="width:155.85pt" valign="middle">Up to 1 year </td><td style="width:155.85pt" valign="middle">- </td></tr> </table> <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(n)</kbd><kbd style="margin-left:72pt"></kbd>Provisions A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects the current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as a finance cost. The Company has not recognized any legal or constructive obligations based on past events during the current period. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(o)</kbd><kbd style="margin-left:72pt"></kbd>Finance costs Finance costs comprise interest expense on borrowings and the reversal of the discount on provisions. Borrowing costs that are not directly attributable to the acquisition, construction or production of a qualifying asset are recognized in the income statement using the effective interest method. The Company currently does not have any finance costs.

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(c)</kbd><kbd style="margin-left:72pt"></kbd>Mineral property interests and Exploration and evaluation assets All costs related to the acquisition of mineral properties are capitalized as Mineral Property interest. The recorded cost of mineral property interests is based on cash paid and the fair market value of share consideration issued for mineral property interest acquisitions. All pre-exploration costs, i.e. costs incurred prior to obtaining the legal right to undertake exploration and evaluation activities on an area of interest, are expensed as incurred. Once the legal right to explore has been acquired, exploration and evaluation expenditures are capitalized in respect of each identifiable area of interest until the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. Costs incurred include appropriate technical overheads. Exploration and evaluation assets are carried at historical cost, less any impairment losses recognized. When technical feasibility and commercial viability of extracting a mineral resource are demonstrable for an area of interest, the Company stops capitalizing exploration and evaluation costs for that area, tests recognized exploration and evaluation assets for impairment and reclassifies any unimpaired exploration and evaluation assets either as tangible or intangible mine development assets according to the nature of the assets. Mineral properties are reviewed for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. If, after management review, it is determined that the carrying amount of a mineral property is impaired, that property is written down to its estimated net realizable value. When a property is abandoned, all related costs are written off to operations.

<table style="border-collapse:collapse;margin-left:77.4pt"><tr><td style="width:192.6pt" valign="top"></td><td style="width:184.5pt" valign="top"></td></tr> <tr><td style="width:192.6pt" valign="top">Automobile </td><td style="width:184.5pt" valign="top">30% declining balance </td></tr> <tr><td style="width:192.6pt" valign="top">Computer equipment </td><td style="width:184.5pt" valign="top">30% to 45% declining balance </td></tr> <tr><td style="width:192.6pt" valign="top">Office furniture and equipment </td><td style="width:184.5pt" valign="top">20% declining balance </td></tr> </table>

30% declining balance

30% to 45% declining balance

20% declining balance

3363000 3333000 2465000

The expected life and residual values for the Company’s right of use asset as at January 31, 2026 was as follows: <table style="border-collapse:collapse;margin-left:36pt"><tr><td style="width:155.8pt" valign="top"> </td><td style="width:155.85pt" valign="middle">Expected Life </td><td style="width:155.85pt" valign="middle">Residual Value </td></tr> <tr><td style="width:155.8pt" valign="middle">Office Lease </td><td style="width:155.85pt" valign="middle">Up to 1 year </td><td style="width:155.85pt" valign="middle">- </td></tr> </table> Up to 1 year 0

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">5.</kbd>EXPLORATION AND EVALUATION ASSETS Morrison claims, Omineca Mining Division, British Columbia In 1998, the Company obtained, and subsequently completed, an option from Noranda Mining and Exploration Inc. ("Noranda" which was subsequently acquired by Glencore PLC, "Glencore”) whereby it earned an initial 50% interest in the Morrison claims. On April 19, 2004, the Company signed an agreement whereby Noranda agreed to sell its remaining 50% interest to the Company such that the Company would have a 100% interest in the Morrison claims. In order to obtain the remaining 50% interest, the Company agreed to: <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">i)</kbd>on or before June 19, 2004, pay $1,000,000 (paid), issue 250,000 common shares (issued) and issue 250,000 share purchase warrants exercisable at $4.05 per share until June 5, 2006 (issued); <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">ii)</kbd>pay $1,000,000 on or before October 19, 2005 (paid); <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">iii)</kbd>pay $1,500,000 on or before April 19, 2007 (paid); and <kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">iv)</kbd>issue 250,000 common shares on or before commencement of commercial production. In the event the trading price of the Company’s common shares is below $4.00 per share, the Company is obligated to pay, in cash, the difference between $1,000,000 and the average trading price which is less than $4.00 per share multiplied by 250,000 common shares. The Company has agreed to execute a re-transfer of its 100% interest to Glencore if it fails to comply with the outstanding terms of the agreement ((iv) above). The Company also acquired a 100% interest in certain mineral claims located contiguous to the Morrison claims, subject to 1.5% NSR royalty in consideration for the issuance of 45,000 common shares at a value of $180,000. Title to mineral property interests involves certain inherent risks due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyancing history characteristic of many mineral claims. The Company has investigated title to all of its mineral property interests and, to the best of its knowledge, title to all of its interests are in good standing. The Company began exploration of the Morrison property in October 1997. A positive Feasibility Study, as defined by National Instrument 43-101, was released by the Company for the Morrison Copper/Gold Project in February 2009. The study described the scope, design and financial viability of a conventional open pit mine with a 30,000 tonnes per day mill with a 21 year mine life. The mineral reserve estimates have been prepared and classified in accordance with CIM Classification established under National Instrument 43-101 of the Canadian Securities Administrators. The reserve estimate takes into consideration all geologic, mining, milling and economic factors and is stated according to the Canadian Standards. Under US standards, no reserve declaration is possible until financing and permits are acquired. The Company is currently in the design stage of the exploration and evaluation of the Morrison property. <kbd style="margin-left:36pt"></kbd>Indication of Impairment An impairment allowance was recorded effective as at January 31, 2022 on the basis of the refusal by the BC Government to grant an Environmental Assessment Certificate ("EAC") in February 2022. The Company was unable to demonstrate that a new application for the EAC would be successful or that the accumulated costs would be recoverable by a sale of the Morrison property. Accordingly, the Company made an allowance for the full amount ($29,836,916) that had been capitalized as both acquisition ($4,832,500) and deferred exploration costs ($25,004,416). The impairment charge recorded is based solely on the lack of available objective evidence that would support an alternative estimate of fair value in respect to the property interest. Prior to January 31, 2022, the Company had capitalized and continued to defer its historic exploration and evaluation costs incurred on the basis that no clear indicators of impairment existed. During the 2023 fiscal year, the Company has re-commenced capitalizing current exploration and evaluation costs incurred on the project on the basis of a judgement that these were clearly immaterial in relation to the impairment charge taken during the 2022 fiscal year. Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. Continuity of acquisition cost for the years ended January 31, 2026, 2025 and 2024 are as follows: <table style="border-collapse:collapse;width:469.55pt;margin-left:36pt"><tr><td style="width:211.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="top">Morrison claims, Canada </td><td style="width:86.05pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="top"><kbd style="margin-left:36pt"></kbd>2026 </td><td style="width:84.45pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="top"><kbd style="margin-left:36pt"></kbd>2025 </td><td style="width:87.55pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="top"><kbd style="margin-left:36pt"></kbd>2024 </td></tr> <tr><td style="width:211.5pt;border-top:0.75pt solid #000000" valign="top"> </td><td style="width:86.05pt;border-top:0.75pt solid #000000" valign="top"> </td><td style="width:84.45pt;border-top:0.75pt solid #000000" valign="top"> </td><td style="width:87.55pt;border-top:0.5pt solid #000000" valign="top"> </td></tr> <tr><td style="width:211.5pt;border-bottom:3px double #000000" valign="top">Balance, beginning and end of year </td><td style="width:86.05pt;border-bottom:3px double #000000" valign="top">$ - </td><td style="width:84.45pt;border-bottom:3px double #000000" valign="top"> $ - </td><td style="width:87.55pt;border-bottom:3px double #000000" valign="top">$ - </td></tr> </table> Morrison claims, Omineca Mining Division, British Columbia Continuity of deferred exploration costs for the years ended January 31, 2026, 2025 and 2024 are as follows: <table style="border-collapse:collapse;width:459pt;margin-left:36pt"><tr style="height:7.95pt"><td style="width:224.7pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="2" style="width:76.8pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="2" style="width:76.5pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="2" style="width:81pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr style="height:7.9pt"><td style="width:224.7pt" valign="bottom">Morrison claims, Canada </td><td colspan="2" style="width:76.8pt" valign="bottom">2026 </td><td colspan="2" style="width:76.5pt;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td colspan="2" style="width:81pt" valign="bottom">2024 </td></tr> <tr><td style="width:224.7pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:65pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Balance, beginning of year </td><td style="width:11.8pt" valign="bottom">$ </td><td style="width:65pt;padding-left:2.15pt;border-bottom:0.5pt solid #000000" valign="bottom">461,152 </td><td style="width:11.8pt;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:64.7pt;padding-left:2.15pt;border-bottom:0.5pt solid #000000" valign="bottom">419,046 </td><td style="width:11.8pt;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:69.2pt;padding-left:2.15pt;border-bottom:0.5pt solid #000000" valign="bottom">182,456 </td></tr> <tr><td style="width:224.7pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Exploration and evaluation costs </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Exploration additions </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Assay and analysis </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">1,870 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Sub-contracts and labour </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">4,985 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Supplies and general </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">381 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Travel </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">1,336 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Staking and recording </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">18,988 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">34,151 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">233,429 </td></tr> <tr><td style="width:224.7pt" valign="bottom">Environmental additions </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Sub-contracts and labour </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">61,201 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">7,428 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">3,161 </td></tr> <tr><td style="width:224.7pt" valign="bottom">Supplies and general </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">11,088 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">200 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Travel </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">6,400 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">327 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Total exploration and evaluation costs for the year </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">106,249 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">42,106 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">236,590 </td></tr> <tr><td style="width:224.7pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt;border-bottom:3px double #000000" valign="bottom">Balance, end of year </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:65pt;padding-left:2.15pt;border-bottom:3px double #000000" valign="bottom">567,401 </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.7pt;padding-left:2.15pt;border-bottom:3px double #000000" valign="bottom">461,152 </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:69.2pt;padding-left:2.15pt;border-bottom:3px double #000000" valign="bottom">419,046 </td></tr> </table>

Continuity of acquisition cost for the years ended January 31, 2026, 2025 and 2024 are as follows: <table style="border-collapse:collapse;width:469.55pt;margin-left:36pt"><tr><td style="width:211.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="top">Morrison claims, Canada </td><td style="width:86.05pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="top"><kbd style="margin-left:36pt"></kbd>2026 </td><td style="width:84.45pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="top"><kbd style="margin-left:36pt"></kbd>2025 </td><td style="width:87.55pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="top"><kbd style="margin-left:36pt"></kbd>2024 </td></tr> <tr><td style="width:211.5pt;border-top:0.75pt solid #000000" valign="top"> </td><td style="width:86.05pt;border-top:0.75pt solid #000000" valign="top"> </td><td style="width:84.45pt;border-top:0.75pt solid #000000" valign="top"> </td><td style="width:87.55pt;border-top:0.5pt solid #000000" valign="top"> </td></tr> <tr><td style="width:211.5pt;border-bottom:3px double #000000" valign="top">Balance, beginning and end of year </td><td style="width:86.05pt;border-bottom:3px double #000000" valign="top">$ - </td><td style="width:84.45pt;border-bottom:3px double #000000" valign="top"> $ - </td><td style="width:87.55pt;border-bottom:3px double #000000" valign="top">$ - </td></tr> </table> 0 0 0 Morrison claims, Omineca Mining Division, British Columbia Continuity of deferred exploration costs for the years ended January 31, 2026, 2025 and 2024 are as follows: <table style="border-collapse:collapse;width:459pt;margin-left:36pt"><tr style="height:7.95pt"><td style="width:224.7pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="2" style="width:76.8pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="2" style="width:76.5pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="2" style="width:81pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr style="height:7.9pt"><td style="width:224.7pt" valign="bottom">Morrison claims, Canada </td><td colspan="2" style="width:76.8pt" valign="bottom">2026 </td><td colspan="2" style="width:76.5pt;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td colspan="2" style="width:81pt" valign="bottom">2024 </td></tr> <tr><td style="width:224.7pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:65pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Balance, beginning of year </td><td style="width:11.8pt" valign="bottom">$ </td><td style="width:65pt;padding-left:2.15pt;border-bottom:0.5pt solid #000000" valign="bottom">461,152 </td><td style="width:11.8pt;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:64.7pt;padding-left:2.15pt;border-bottom:0.5pt solid #000000" valign="bottom">419,046 </td><td style="width:11.8pt;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:69.2pt;padding-left:2.15pt;border-bottom:0.5pt solid #000000" valign="bottom">182,456 </td></tr> <tr><td style="width:224.7pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Exploration and evaluation costs </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Exploration additions </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Assay and analysis </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">1,870 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Sub-contracts and labour </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">4,985 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Supplies and general </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">381 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Travel </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">1,336 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">- </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Staking and recording </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">18,988 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">34,151 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">233,429 </td></tr> <tr><td style="width:224.7pt" valign="bottom">Environmental additions </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Sub-contracts and labour </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">61,201 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">7,428 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">3,161 </td></tr> <tr><td style="width:224.7pt" valign="bottom">Supplies and general </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">11,088 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">200 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom">Travel </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">6,400 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">327 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">- </td></tr> <tr><td style="width:224.7pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt" valign="bottom">Total exploration and evaluation costs for the year </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt" valign="bottom">106,249 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt" valign="bottom">42,106 </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt" valign="bottom">236,590 </td></tr> <tr><td style="width:224.7pt" valign="bottom"> </td><td style="width:11.8pt" valign="bottom"> </td><td style="width:65pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:69.2pt;padding-left:2.15pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:224.7pt;border-bottom:3px double #000000" valign="bottom">Balance, end of year </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:65pt;padding-left:2.15pt;border-bottom:3px double #000000" valign="bottom">567,401 </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.7pt;padding-left:2.15pt;border-bottom:3px double #000000" valign="bottom">461,152 </td><td style="width:11.8pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:69.2pt;padding-left:2.15pt;border-bottom:3px double #000000" valign="bottom">419,046 </td></tr> </table>

461152

419046

182456

1870 0 0 4985 0 0 381 0 0 1336 0 0 18988 34151 233429 61201 7428 3161 11088 200 0 6400 327 0 106249 42106 236590

567401

461152

419046

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">6.</kbd>EQUIPMENT, VEHICLES AND FURNITURE <table style="border-collapse:collapse;width:484.1pt;margin-left:43.2pt"><tr><td style="width:172.65pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td colspan="2" style="width:80.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance February 1, 2025 </td><td colspan="2" style="width:76.55pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Additions for the year </td><td colspan="2" style="width:76.75pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Disposals for the year </td><td colspan="2" style="width:76.45pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance January 31, 2026 </td></tr> <tr><td style="width:172.65pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:13.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Automobile </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom">$ </td><td style="width:67.4pt" valign="bottom">62,633 </td><td style="width:11.95pt" valign="bottom">$ </td><td style="width:64.6pt" valign="bottom">- </td><td style="width:12.05pt" valign="bottom">$ </td><td style="width:64.7pt" valign="bottom">- </td><td style="width:12pt" valign="bottom">$ </td><td colspan="2" style="width:65.25pt" valign="bottom">62,633 </td></tr> <tr><td style="width:172.65pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(53,686) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,684) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">(56,370) </td></tr> <tr><td style="width:172.65pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">8,947 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(2,684) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">6,263 </td></tr> <tr><td style="width:172.65pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Office furniture and equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom">15,394 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> - </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> - </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom">15,394 </td></tr> <tr><td style="width:172.65pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,256) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(27) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,283) </td></tr> <tr><td style="width:172.65pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">138 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(27) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">111 </td></tr> <tr><td style="width:172.65pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Computer equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom">24,900 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> - </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom">24,900 </td></tr> <tr><td style="width:172.65pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(19,476) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,441) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">(21,917) </td></tr> <tr><td style="width:172.65pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">5,424 </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,441) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">2,983 </td></tr> <tr><td style="width:172.65pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt;border-bottom:3px double #000000" valign="bottom">Totals </td><td style="width:13.5pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:67.4pt;border-bottom:3px double #000000" valign="bottom">14,509 </td><td style="width:11.95pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.6pt;border-bottom:3px double #000000" valign="bottom">(5,152) </td><td style="width:12.05pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.7pt;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td colspan="2" style="width:65.25pt;border-bottom:3px double #000000" valign="bottom">9,357 </td></tr> </table> <table style="border-collapse:collapse;width:484.1pt;margin-left:43.2pt"><tr><td style="width:172.8pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td colspan="2" style="width:81pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance February 1, 2024 </td><td colspan="2" style="width:76.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Additions for the year </td><td colspan="2" style="width:76.95pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Disposals for the year </td><td colspan="2" style="width:76.85pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance January 31, 2025 </td></tr> <tr><td style="width:172.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:13.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Automobile </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom">$ </td><td style="width:67.5pt" valign="bottom">62,633 </td><td style="width:11.95pt" valign="bottom">$ </td><td style="width:64.55pt" valign="bottom">- </td><td style="width:12.05pt" valign="bottom">$ </td><td style="width:64.9pt" valign="bottom">- </td><td style="width:12pt" valign="bottom">$ </td><td style="width:64.85pt" valign="bottom">62,633 </td></tr> <tr><td style="width:172.8pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(49,851) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">(3,835) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">(53,686) </td></tr> <tr><td style="width:172.8pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">12,782 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(3,835) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">8,947 </td></tr> <tr><td style="width:172.8pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Office furniture and equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom">15,394 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom">- </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom">- </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom">15,394 </td></tr> <tr><td style="width:172.8pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,221) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">(35) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,256) </td></tr> <tr><td style="width:172.8pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">173 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(35) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">138 </td></tr> <tr><td style="width:172.8pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Computer equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom">33,384 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom">6,924 </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom">(15,408) </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom">24,900 </td></tr> <tr><td style="width:172.8pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(33,276) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">(1,605) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">15,405 </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">(19,476) </td></tr> <tr><td style="width:172.8pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">108 </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">5,319 </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">(3) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">5,424 </td></tr> <tr><td style="width:172.8pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt;border-bottom:3px double #000000" valign="bottom">Totals </td><td style="width:13.5pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">13,063 </td><td style="width:11.95pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.55pt;border-bottom:3px double #000000" valign="bottom">1,449 </td><td style="width:12.05pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.9pt;border-bottom:3px double #000000" valign="bottom">(3) </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.85pt;border-bottom:3px double #000000" valign="bottom">14,509 </td></tr> </table>

<table style="border-collapse:collapse;width:484.1pt;margin-left:43.2pt"><tr><td style="width:172.65pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td colspan="2" style="width:80.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance February 1, 2025 </td><td colspan="2" style="width:76.55pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Additions for the year </td><td colspan="2" style="width:76.75pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Disposals for the year </td><td colspan="2" style="width:76.45pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance January 31, 2026 </td></tr> <tr><td style="width:172.65pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:13.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Automobile </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom">$ </td><td style="width:67.4pt" valign="bottom">62,633 </td><td style="width:11.95pt" valign="bottom">$ </td><td style="width:64.6pt" valign="bottom">- </td><td style="width:12.05pt" valign="bottom">$ </td><td style="width:64.7pt" valign="bottom">- </td><td style="width:12pt" valign="bottom">$ </td><td colspan="2" style="width:65.25pt" valign="bottom">62,633 </td></tr> <tr><td style="width:172.65pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(53,686) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,684) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">(56,370) </td></tr> <tr><td style="width:172.65pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">8,947 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(2,684) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">6,263 </td></tr> <tr><td style="width:172.65pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Office furniture and equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom">15,394 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> - </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> - </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom">15,394 </td></tr> <tr><td style="width:172.65pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,256) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(27) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,283) </td></tr> <tr><td style="width:172.65pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">138 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(27) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">111 </td></tr> <tr><td style="width:172.65pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Computer equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom"> </td></tr> <tr><td style="width:172.65pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.4pt" valign="bottom">24,900 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.6pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.7pt" valign="bottom"> - </td><td style="width:12pt" valign="bottom"> </td><td colspan="2" style="width:65.25pt" valign="bottom">24,900 </td></tr> <tr><td style="width:172.65pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(19,476) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,441) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">(21,917) </td></tr> <tr><td style="width:172.65pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-bottom:0.5pt solid #000000" valign="bottom">5,424 </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,441) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-bottom:0.5pt solid #000000" valign="bottom"> - </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-bottom:0.5pt solid #000000" valign="bottom">2,983 </td></tr> <tr><td style="width:172.65pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td colspan="2" style="width:65.25pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.65pt;border-bottom:3px double #000000" valign="bottom">Totals </td><td style="width:13.5pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:67.4pt;border-bottom:3px double #000000" valign="bottom">14,509 </td><td style="width:11.95pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.6pt;border-bottom:3px double #000000" valign="bottom">(5,152) </td><td style="width:12.05pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.7pt;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td colspan="2" style="width:65.25pt;border-bottom:3px double #000000" valign="bottom">9,357 </td></tr> </table> <table style="border-collapse:collapse;width:484.1pt;margin-left:43.2pt"><tr><td style="width:172.8pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td colspan="2" style="width:81pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance February 1, 2024 </td><td colspan="2" style="width:76.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Additions for the year </td><td colspan="2" style="width:76.95pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Disposals for the year </td><td colspan="2" style="width:76.85pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Balance January 31, 2025 </td></tr> <tr><td style="width:172.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:13.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Automobile </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom">$ </td><td style="width:67.5pt" valign="bottom">62,633 </td><td style="width:11.95pt" valign="bottom">$ </td><td style="width:64.55pt" valign="bottom">- </td><td style="width:12.05pt" valign="bottom">$ </td><td style="width:64.9pt" valign="bottom">- </td><td style="width:12pt" valign="bottom">$ </td><td style="width:64.85pt" valign="bottom">62,633 </td></tr> <tr><td style="width:172.8pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(49,851) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">(3,835) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">(53,686) </td></tr> <tr><td style="width:172.8pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">12,782 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(3,835) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">8,947 </td></tr> <tr><td style="width:172.8pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Office furniture and equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom">15,394 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom">- </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom">- </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom">15,394 </td></tr> <tr><td style="width:172.8pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,221) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">(35) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">(15,256) </td></tr> <tr><td style="width:172.8pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">173 </td><td style="width:11.95pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">(35) </td><td style="width:12.05pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">138 </td></tr> <tr><td style="width:172.8pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Computer equipment </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom"> </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom"> </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom"> </td></tr> <tr><td style="width:172.8pt" valign="bottom">Value at Cost </td><td style="width:13.5pt" valign="bottom"> </td><td style="width:67.5pt" valign="bottom">33,384 </td><td style="width:11.95pt" valign="bottom"> </td><td style="width:64.55pt" valign="bottom">6,924 </td><td style="width:12.05pt" valign="bottom"> </td><td style="width:64.9pt" valign="bottom">(15,408) </td><td style="width:12pt" valign="bottom"> </td><td style="width:64.85pt" valign="bottom">24,900 </td></tr> <tr><td style="width:172.8pt" valign="bottom">Accumulated Depreciation </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(33,276) </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">(1,605) </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">15,405 </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">(19,476) </td></tr> <tr><td style="width:172.8pt" valign="bottom">Net book value </td><td style="width:13.5pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">108 </td><td style="width:11.95pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-bottom:0.5pt solid #000000" valign="bottom">5,319 </td><td style="width:12.05pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-bottom:0.5pt solid #000000" valign="bottom">(3) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-bottom:0.5pt solid #000000" valign="bottom">5,424 </td></tr> <tr><td style="width:172.8pt" valign="bottom"> </td><td style="width:13.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.95pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.55pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12.05pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:64.85pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:172.8pt;border-bottom:3px double #000000" valign="bottom">Totals </td><td style="width:13.5pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">13,063 </td><td style="width:11.95pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.55pt;border-bottom:3px double #000000" valign="bottom">1,449 </td><td style="width:12.05pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.9pt;border-bottom:3px double #000000" valign="bottom">(3) </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:64.85pt;border-bottom:3px double #000000" valign="bottom">14,509 </td></tr> </table>

62633

-53686

-2684

-56370

8947

-2684

6263

15394

-15256

-27

-15283

138

-27

111

24900

-19476

-2441

-21917

5424

-2441

2983

14509

-5152

9357

62633

-49851

-3835

-53686

12782

-3835

8947

15394

-15221

-35

-15256

173

-35

138

33384

6924

-15408

24900

-33276

-1605

15405

-19476

108

5319

-3

5424

13063

1449

-3

14509

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">7.</kbd>OFFICE LEASE RIGHT-OF-USE & OFFICE LEASE LIABILITY Effective February 1, 2024, the Company signed a three year lease that has an early termination provision after 18 months with a penalty of one months rent required for early termination. This lease is for the Company’s office located at #1203 – 1166 Alberni Street in Vancouver, BC. Under IFRS 16, the disclosure must show the Right of Use asset, the depreciation of that asset and the corresponding liability, with an appropriate interest percentage factored in. These expenses have been grouped together on the Statement of Net loss and comprehensive loss to allow comparison to the prior fiscal periods. For the year ended January 31, 2026, office lease and rental costs included right-of-use depreciation of $39,536 (2025 - $39,536; 2024 - $nil); interest expense related to the office lease of $7,882 (2025 - $11,068; 2024 - $nil); operating costs of $30,489 (2025 - $31,940; 2024 - $nil) and parking space costs of $4,706 (2025 - $4,628; 2024 - $nil) for a total expense of $82,613 (2025 - $87,172; 2024 - $nil). Total cash paid for the office and parking space during the year ended January 31, 2026 was $81,815 (2025 - $83,188; 2024 - $nil). <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(a)</kbd><kbd style="margin-left:72pt"></kbd>Right-of-use asset As at January 31, 2026 and 2025, the right-of-use asset recorded for the Company’s office premises was as follows: <table style="border-collapse:collapse;width:434.1pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"></td><td colspan="2" style="width:82.8pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2026 </td><td colspan="2" style="width:82.2pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2025 </td></tr> <tr><td style="width:269.1pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:70.2pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Balance, beginning of year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:70.8pt" valign="bottom">79,071 </td><td style="width:12pt" valign="bottom">$ </td><td style="width:70.2pt" valign="bottom">- </td></tr> <tr><td style="width:269.1pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.2pt" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Additions </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt" valign="bottom">- </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.2pt" valign="bottom">118,607 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Depreciation </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt;border-bottom:0.5pt solid #000000" valign="bottom">(39,536) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:70.2pt;border-bottom:0.5pt solid #000000" valign="bottom">(39,536) </td></tr> <tr><td style="width:269.1pt" valign="bottom">Balance, end of year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:70.8pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">39,535 </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:70.2pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">79,071 </td></tr> <tr><td style="width:269.1pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:70.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:70.2pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"> </td></tr> </table> <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(b)</kbd><kbd style="margin-left:72pt"></kbd>Lease liability As at January 31, 2026 and 2025, minimum lease payments in respect of lease liability and the effect of discounting are as follows: <table style="border-collapse:collapse;width:435.6pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"></td><td colspan="2" style="width:81pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2026 </td><td colspan="2" style="width:85.5pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2025 </td></tr> <tr style="height:10.3pt"><td style="width:269.1pt" valign="bottom">Undiscounted minimum lease payments: </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Less than one year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:69pt" valign="bottom">47,250 </td><td style="width:12pt" valign="bottom">$ </td><td style="width:73.5pt" valign="bottom">46,620 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Second year </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">47,250 </td></tr> <tr><td style="width:269.1pt" valign="bottom"></td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom">47,250 </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom">93,870 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Effects of discounting </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,933) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(10,815) </td></tr> <tr><td style="width:269.1pt" valign="bottom">Present value of minimum lease payments </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom">44,317 </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom">83,055 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Less: current portion </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">(44,317) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(38,738) </td></tr> <tr><td style="width:269.1pt;border-bottom:3px double #000000" valign="bottom">Non-current portion </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:69pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:73.5pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">44,317 </td></tr> </table> The net change in the lease liability for the years ended January 31, 2026 and 2025 are as follows: <table style="border-collapse:collapse;width:435.6pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"></td><td colspan="2" style="width:81pt;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2026 </td><td colspan="2" style="width:85.5pt;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2025 </td></tr> <tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:69pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Balance, beginning of year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">83,055 </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td></tr> <tr><td style="width:269.1pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Additions </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt" valign="bottom">- </td><td style="width:12pt" valign="bottom"> </td><td style="width:73.5pt" valign="bottom">118,607 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Principal payments </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt" valign="bottom">(46,620) </td><td style="width:12pt" valign="bottom"> </td><td style="width:73.5pt" valign="bottom">(46,620) </td></tr> <tr><td style="width:269.1pt" valign="bottom">Interest expense </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">7,882 </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">11,068 </td></tr> <tr><td style="width:269.1pt;border-bottom:3px double #000000" valign="bottom">Balance, end of year </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:69pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">44,317 </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:73.5pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">83,055 </td></tr> </table>

39536

7882 11068 0 30489 31940 0 4706 4628 0 82613 87172 0 81815 83188 0 As at January 31, 2026 and 2025, the right-of-use asset recorded for the Company’s office premises was as follows: <table style="border-collapse:collapse;width:434.1pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"></td><td colspan="2" style="width:82.8pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2026 </td><td colspan="2" style="width:82.2pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2025 </td></tr> <tr><td style="width:269.1pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:70.2pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Balance, beginning of year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:70.8pt" valign="bottom">79,071 </td><td style="width:12pt" valign="bottom">$ </td><td style="width:70.2pt" valign="bottom">- </td></tr> <tr><td style="width:269.1pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.2pt" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Additions </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt" valign="bottom">- </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.2pt" valign="bottom">118,607 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Depreciation </td><td style="width:12pt" valign="bottom"> </td><td style="width:70.8pt;border-bottom:0.5pt solid #000000" valign="bottom">(39,536) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:70.2pt;border-bottom:0.5pt solid #000000" valign="bottom">(39,536) </td></tr> <tr><td style="width:269.1pt" valign="bottom">Balance, end of year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:70.8pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">39,535 </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:70.2pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">79,071 </td></tr> <tr><td style="width:269.1pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:70.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:70.2pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"> </td></tr> </table>

79071

118607

39536

39535

79071

As at January 31, 2026 and 2025, minimum lease payments in respect of lease liability and the effect of discounting are as follows: <table style="border-collapse:collapse;width:435.6pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"></td><td colspan="2" style="width:81pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2026 </td><td colspan="2" style="width:85.5pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2025 </td></tr> <tr style="height:10.3pt"><td style="width:269.1pt" valign="bottom">Undiscounted minimum lease payments: </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Less than one year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:69pt" valign="bottom">47,250 </td><td style="width:12pt" valign="bottom">$ </td><td style="width:73.5pt" valign="bottom">46,620 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Second year </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">47,250 </td></tr> <tr><td style="width:269.1pt" valign="bottom"></td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom">47,250 </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom">93,870 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Effects of discounting </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">(2,933) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(10,815) </td></tr> <tr><td style="width:269.1pt" valign="bottom">Present value of minimum lease payments </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom">44,317 </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom">83,055 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Less: current portion </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">(44,317) </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">(38,738) </td></tr> <tr><td style="width:269.1pt;border-bottom:3px double #000000" valign="bottom">Non-current portion </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:69pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:73.5pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">44,317 </td></tr> </table>

-47250

-46620

-47250

-93870

-2933 -10815

44317

83055

44317

38738

44317

The net change in the lease liability for the years ended January 31, 2026 and 2025 are as follows: <table style="border-collapse:collapse;width:435.6pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"></td><td colspan="2" style="width:81pt;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2026 </td><td colspan="2" style="width:85.5pt;border-top:3px double #000000;border-bottom:3px double #000000" valign="bottom"><kbd style="margin-left:36pt"></kbd>2025 </td></tr> <tr style="height:9.45pt"><td style="width:269.1pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:69pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:12pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Balance, beginning of year </td><td style="width:12pt" valign="bottom">$ </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">83,055 </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom">$ </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td></tr> <tr><td style="width:269.1pt" valign="bottom"> </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:12pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:269.1pt" valign="bottom">Additions </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt" valign="bottom">- </td><td style="width:12pt" valign="bottom"> </td><td style="width:73.5pt" valign="bottom">118,607 </td></tr> <tr><td style="width:269.1pt" valign="bottom">Principal payments </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt" valign="bottom">(46,620) </td><td style="width:12pt" valign="bottom"> </td><td style="width:73.5pt" valign="bottom">(46,620) </td></tr> <tr><td style="width:269.1pt" valign="bottom">Interest expense </td><td style="width:12pt" valign="bottom"> </td><td style="width:69pt;border-bottom:0.5pt solid #000000" valign="bottom">7,882 </td><td style="width:12pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:73.5pt;border-bottom:0.5pt solid #000000" valign="bottom">11,068 </td></tr> <tr><td style="width:269.1pt;border-bottom:3px double #000000" valign="bottom">Balance, end of year </td><td style="width:12pt;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:69pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">44,317 </td><td style="width:12pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:73.5pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">83,055 </td></tr> </table>

83055

0 118607 -46620 -46620

7882

11068

44317

83055

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">8.</kbd>SHARE CAPITAL, OPTION BASED PAYMENTS & CONTRIBUTED SURPLUS Authorized Share Capital: 100,000,000 common shares without par value During the years ended January 31, 2026, 2025 and 2024, the Company did not announce or complete any private placements. <kbd style="margin-left:36pt"></kbd>Option based payments During the fiscal year ended January 31, 2004, the Company adopted an equity settled stock option plan whereby the Company can reserve approximately 20% of its outstanding shares for issuance to Eligible Persons (as defined by the policies of the TSX Venture Exchange and/or National Instrument 45-106). Under the plan, the exercise price of each option equals the market price of the Company’s stock as calculated on the date of grant. These options can be granted for a maximum term of 10 years. During the year ended January 31, 2026, 1,430,000 stock options were granted (2025 – 1,568,000; 2024 - 700,000) at an averaged exercise price of $2.13 (2025 - $1.89; 2024 - $3.00). During the year ended January 31, 2026, 1,400,000 stock options expired unexercised (2025 – 700,000; 2024 – 1,460,000) at an averaged exercise price of $2.00 (2025 - $3.00; 2024 - $2.86). During the year ended January 31, 2026, no stock options were exercised (2025 –$nil; 2024 - $nil). Stock option transactions are summarized as follows: <table style="border-collapse:collapse;width:455.35pt;margin-left:36pt"><tr style="height:6.2pt"><td style="width:102.6pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="6" style="width:352.75pt;border-top:3px double #000000" valign="bottom">For the years ended January 31, </td></tr> <tr style="height:6.2pt"><td style="width:102.6pt" valign="bottom"> </td><td colspan="2" style="width:117.9pt;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td colspan="2" style="width:112.5pt" valign="bottom">2025 </td><td colspan="2" style="width:122.35pt" valign="bottom">2024 </td></tr> <tr><td style="width:102.6pt;border-bottom:0.75pt solid #000000" valign="bottom"></td><td style="width:62.4pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.5pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Number of Options </td><td style="width:55.5pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.5pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom">Weighted Average Exercise Price </td><td style="width:57.4pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Number of Options </td><td style="width:55.1pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom">Weighted Average Exercise Price </td><td style="width:63pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Number of Options </td><td style="width:59.25pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom">Weighted Average Exercise Price </td></tr> <tr><td style="width:102.6pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:62.4pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:55.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:57.4pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:55.1pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:63pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:59.25pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:102.6pt" valign="bottom">Outstanding, beginning of year </td><td style="width:62.4pt" valign="bottom">3,333,000 </td><td style="width:55.5pt" valign="bottom">$ 2.38 </td><td style="width:57.4pt" valign="bottom">2,465,000 </td><td style="width:55.1pt" valign="bottom">$ 2.87 </td><td style="width:63pt" valign="bottom">3,225,000 </td><td style="width:59.25pt" valign="bottom">$ 2.84 </td></tr> <tr><td style="width:102.6pt" valign="bottom">Granted </td><td style="width:62.4pt" valign="bottom">1,430,000 </td><td style="width:55.5pt" valign="bottom">$ 2.13 </td><td style="width:57.4pt" valign="bottom">1,568,000 </td><td style="width:55.1pt" valign="bottom">$ 1.89 </td><td style="width:63pt" valign="bottom">700,000 </td><td style="width:59.25pt" valign="bottom">$ 3.00 </td></tr> <tr><td style="width:102.6pt" valign="bottom">Expired </td><td style="width:62.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(1,400,000) </td><td style="width:55.5pt" valign="bottom">$ 2.00 </td><td style="width:57.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(700,000) </td><td style="width:55.1pt" valign="bottom">$ 3.00 </td><td style="width:63pt;border-bottom:0.5pt solid #000000" valign="bottom">(1,460,000) </td><td style="width:59.25pt" valign="bottom">$ 2.86 </td></tr> <tr><td style="width:102.6pt" valign="bottom"> </td><td style="width:62.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:55.5pt" valign="bottom"> </td><td style="width:57.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:55.1pt" valign="bottom"> </td><td style="width:63pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:59.25pt" valign="bottom"> </td></tr> <tr><td style="width:102.6pt;border-bottom:3px double #000000" valign="bottom">Outstanding, end of year </td><td style="width:62.4pt;border-bottom:3px double #000000" valign="bottom">3,363,000 </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">$ 2.43 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom">3,333,000 </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">$ 2.38 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom">2,465,000 </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">$ 2.87 </td></tr> <tr><td style="width:102.6pt" valign="bottom"> </td><td style="width:62.4pt" valign="bottom"> </td><td style="width:55.5pt" valign="bottom"> </td><td style="width:57.4pt" valign="bottom"> </td><td style="width:55.1pt" valign="bottom"> </td><td style="width:63pt" valign="bottom"> </td><td style="width:59.25pt" valign="bottom"> </td></tr> <tr><td style="width:102.6pt;border-bottom:3px double #000000" valign="bottom">Options exercisable, end of year </td><td style="width:62.4pt;border-bottom:3px double #000000" valign="bottom">3,363,000 </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">$ 2.43 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom">3,333,000 </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">$ 2.38 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom">2,465,000 </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">$ 2.87 </td></tr> <tr><td style="width:102.6pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:62.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.5pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:57.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:63pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr><td colspan="2" style="width:165pt;border-bottom:3px double #000000" valign="bottom">Weighted average remaining life of outstanding options granted in years </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">0.58 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">1.14 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">2.10 </td></tr> <tr><td style="width:102.6pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:62.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.5pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:57.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:63pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr><td colspan="2" style="width:165pt;border-bottom:3px double #000000" valign="bottom">Weighted average fair value per option granted </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">$ 0.41 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">$ 0.14 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">$ 0.06 </td></tr> </table> The following stock options were outstanding at January 31, 2026: <table style="border-collapse:collapse;width:501.3pt;margin-left:43.2pt"><tr><td style="width:39.65pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td style="width:92.8pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Number of Options Outstanding </td><td style="width:93.05pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Number of Options Exercisable </td><td style="width:82.3pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Exercise Price </td><td style="width:193.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Expiry Date </td></tr> <tr><td style="width:39.65pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:92.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:93.05pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:82.3pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:193.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">100,000 </td><td style="width:93.05pt" valign="bottom">100,000 </td><td style="width:82.3pt" valign="bottom">$ 2.00 </td><td style="width:193.5pt" valign="bottom">February 23, 2026* </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">168,000 </td><td style="width:93.05pt" valign="bottom">168,000 </td><td style="width:82.3pt" valign="bottom">$ 1.00 </td><td style="width:193.5pt" valign="bottom">May 9, 2026** </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">700,000 </td><td style="width:93.05pt" valign="bottom">700,000 </td><td style="width:82.3pt" valign="bottom">$ 1.30 </td><td style="width:193.5pt" valign="bottom">May 12, 2026*** </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">1,515,000 </td><td style="width:93.05pt" valign="bottom">1,515,000 </td><td style="width:82.3pt" valign="bottom">$ 3.00 </td><td style="width:193.5pt" valign="bottom">August 17, 2026 </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">700,000 </td><td style="width:93.05pt" valign="bottom">700,000 </td><td style="width:82.3pt" valign="bottom">$ 3.00 </td><td style="width:193.5pt" valign="bottom">November 13, 2026**** </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">30,000 </td><td style="width:93.05pt" valign="bottom">30,000 </td><td style="width:82.3pt" valign="bottom">$ 1.00 </td><td style="width:193.5pt" valign="bottom">November 14, 2027 </td></tr> <tr><td style="width:39.65pt;border-bottom:3px double #000000" valign="bottom"></td><td style="width:92.8pt;border-bottom:3px double #000000" valign="bottom">150,000 </td><td style="width:93.05pt;border-bottom:3px double #000000" valign="bottom">150,000 </td><td style="width:82.3pt;border-bottom:3px double #000000" valign="bottom">$ 1.50 </td><td style="width:193.5pt;border-bottom:3px double #000000" valign="bottom">November 22, 2027***** </td></tr> </table> <kbd style="margin-left:45pt"></kbd>*--expired unexercised subsequent to fiscal year end <kbd style="margin-left:45pt"></kbd>**--20,000 exercised and 148,000 expired unexercised subsequent to fiscal year end <kbd style="margin-left:45pt"></kbd>***--308,000 exercised and 392,000 expired unexercised subsequent to fiscal year end <kbd style="margin-left:45pt"></kbd>****--250,000 surrendered subsequent to fiscal year end <kbd style="margin-left:45pt"></kbd>*****--30,000 exercised subsequent to fiscal year end <kbd style="margin-left:36pt"></kbd>Option based payment expense The fair value of stock options granted during the year ended January 31, 2026 was $589,751 (2025 – $223,384; 2024 – $42,090) which has been recognized as option based payments. Total option based payments recognized during the year ended January 31, 2026 was $589,751 (2025 – $223,384; 2024 – $42,090) which has been recorded in the statements of net loss and comprehensive loss as option based payments with corresponding contributed surplus recorded in shareholders' equity. The following weighted average assumptions were used for the Black-Scholes valuation of stock options granted during the years: <table style="border-collapse:collapse;width:411.45pt;margin-left:36pt"><tr><td style="width:175.5pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:78.65pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td style="width:78.65pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td style="width:78.65pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:175.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:78.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:78.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:78.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:175.5pt" valign="bottom">Risk-free interest rate </td><td style="width:78.65pt" valign="bottom">2.52% </td><td style="width:78.65pt" valign="bottom">2.33% </td><td style="width:78.65pt" valign="bottom">4.45% </td></tr> <tr><td style="width:175.5pt" valign="bottom">Expected life of options </td><td style="width:78.65pt" valign="bottom">1.02 years </td><td style="width:78.65pt" valign="bottom">0.66 year </td><td style="width:78.65pt" valign="bottom">1 year </td></tr> <tr><td style="width:175.5pt" valign="bottom">Annualized volatility </td><td style="width:78.65pt" valign="bottom">142.31% </td><td style="width:78.65pt" valign="bottom">51.62% </td><td style="width:78.65pt" valign="bottom">97.27 </td></tr> <tr style="height:4.15pt"><td style="width:175.5pt;border-bottom:3px double #000000" valign="bottom">Dividends </td><td style="width:78.65pt;border-bottom:3px double #000000" valign="bottom">0.00% </td><td style="width:78.65pt;border-bottom:3px double #000000" valign="bottom">0.00% </td><td style="width:78.65pt;border-bottom:3px double #000000" valign="bottom">0.00% </td></tr> </table> <kbd style="margin-left:36pt"></kbd>Warrants No share purchase warrants were outstanding and exercisable at January 31 2026, 2025 and 2024.

100000000 1430000 1568000 700000 2.13 1.89 3 1400000 700000 1460000 2 3 2.86 0 0 0 Stock option transactions are summarized as follows: <table style="border-collapse:collapse;width:455.35pt;margin-left:36pt"><tr style="height:6.2pt"><td style="width:102.6pt;border-top:3px double #000000" valign="bottom"> </td><td colspan="6" style="width:352.75pt;border-top:3px double #000000" valign="bottom">For the years ended January 31, </td></tr> <tr style="height:6.2pt"><td style="width:102.6pt" valign="bottom"> </td><td colspan="2" style="width:117.9pt;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td colspan="2" style="width:112.5pt" valign="bottom">2025 </td><td colspan="2" style="width:122.35pt" valign="bottom">2024 </td></tr> <tr><td style="width:102.6pt;border-bottom:0.75pt solid #000000" valign="bottom"></td><td style="width:62.4pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.5pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Number of Options </td><td style="width:55.5pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.5pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom">Weighted Average Exercise Price </td><td style="width:57.4pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Number of Options </td><td style="width:55.1pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom">Weighted Average Exercise Price </td><td style="width:63pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Number of Options </td><td style="width:59.25pt;padding-left:5.75pt;padding-right:5.75pt;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000" valign="bottom">Weighted Average Exercise Price </td></tr> <tr><td style="width:102.6pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:62.4pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:55.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:57.4pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:55.1pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:63pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:59.25pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:102.6pt" valign="bottom">Outstanding, beginning of year </td><td style="width:62.4pt" valign="bottom">3,333,000 </td><td style="width:55.5pt" valign="bottom">$ 2.38 </td><td style="width:57.4pt" valign="bottom">2,465,000 </td><td style="width:55.1pt" valign="bottom">$ 2.87 </td><td style="width:63pt" valign="bottom">3,225,000 </td><td style="width:59.25pt" valign="bottom">$ 2.84 </td></tr> <tr><td style="width:102.6pt" valign="bottom">Granted </td><td style="width:62.4pt" valign="bottom">1,430,000 </td><td style="width:55.5pt" valign="bottom">$ 2.13 </td><td style="width:57.4pt" valign="bottom">1,568,000 </td><td style="width:55.1pt" valign="bottom">$ 1.89 </td><td style="width:63pt" valign="bottom">700,000 </td><td style="width:59.25pt" valign="bottom">$ 3.00 </td></tr> <tr><td style="width:102.6pt" valign="bottom">Expired </td><td style="width:62.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(1,400,000) </td><td style="width:55.5pt" valign="bottom">$ 2.00 </td><td style="width:57.4pt;border-bottom:0.5pt solid #000000" valign="bottom">(700,000) </td><td style="width:55.1pt" valign="bottom">$ 3.00 </td><td style="width:63pt;border-bottom:0.5pt solid #000000" valign="bottom">(1,460,000) </td><td style="width:59.25pt" valign="bottom">$ 2.86 </td></tr> <tr><td style="width:102.6pt" valign="bottom"> </td><td style="width:62.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:55.5pt" valign="bottom"> </td><td style="width:57.4pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:55.1pt" valign="bottom"> </td><td style="width:63pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:59.25pt" valign="bottom"> </td></tr> <tr><td style="width:102.6pt;border-bottom:3px double #000000" valign="bottom">Outstanding, end of year </td><td style="width:62.4pt;border-bottom:3px double #000000" valign="bottom">3,363,000 </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">$ 2.43 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom">3,333,000 </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">$ 2.38 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom">2,465,000 </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">$ 2.87 </td></tr> <tr><td style="width:102.6pt" valign="bottom"> </td><td style="width:62.4pt" valign="bottom"> </td><td style="width:55.5pt" valign="bottom"> </td><td style="width:57.4pt" valign="bottom"> </td><td style="width:55.1pt" valign="bottom"> </td><td style="width:63pt" valign="bottom"> </td><td style="width:59.25pt" valign="bottom"> </td></tr> <tr><td style="width:102.6pt;border-bottom:3px double #000000" valign="bottom">Options exercisable, end of year </td><td style="width:62.4pt;border-bottom:3px double #000000" valign="bottom">3,363,000 </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">$ 2.43 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom">3,333,000 </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">$ 2.38 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom">2,465,000 </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">$ 2.87 </td></tr> <tr><td style="width:102.6pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:62.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.5pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:57.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:63pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr><td colspan="2" style="width:165pt;border-bottom:3px double #000000" valign="bottom">Weighted average remaining life of outstanding options granted in years </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">0.58 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">1.14 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">2.10 </td></tr> <tr><td style="width:102.6pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:62.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.5pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:57.4pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:63pt;border-top:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-top:3px double #000000" valign="bottom"> </td></tr> <tr><td colspan="2" style="width:165pt;border-bottom:3px double #000000" valign="bottom">Weighted average fair value per option granted </td><td style="width:55.5pt;border-bottom:3px double #000000" valign="bottom">$ 0.41 </td><td style="width:57.4pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:55.1pt;border-bottom:3px double #000000" valign="bottom">$ 0.14 </td><td style="width:63pt;border-bottom:3px double #000000" valign="bottom"> </td><td style="width:59.25pt;border-bottom:3px double #000000" valign="bottom">$ 0.06 </td></tr> </table>

3333000

2.38

2465000

2.87

3225000

2.84

1430000

2.13

1568000

1.89

700000

1400000

700000

1460000

2.86

3363000

2.43

3333000

2.38

2465000

2.87

2.43

3333000

2.38

2465000

2.87

P0Y6M29D

P1Y1M20D

P2Y1M6D

0.41

0.14

0.06

The following stock options were outstanding at January 31, 2026: <table style="border-collapse:collapse;width:501.3pt;margin-left:43.2pt"><tr><td style="width:39.65pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td style="width:92.8pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Number of Options Outstanding </td><td style="width:93.05pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">Number of Options Exercisable </td><td style="width:82.3pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Exercise Price </td><td style="width:193.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"> Expiry Date </td></tr> <tr><td style="width:39.65pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:92.8pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:93.05pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:82.3pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:193.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">100,000 </td><td style="width:93.05pt" valign="bottom">100,000 </td><td style="width:82.3pt" valign="bottom">$ 2.00 </td><td style="width:193.5pt" valign="bottom">February 23, 2026* </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">168,000 </td><td style="width:93.05pt" valign="bottom">168,000 </td><td style="width:82.3pt" valign="bottom">$ 1.00 </td><td style="width:193.5pt" valign="bottom">May 9, 2026** </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">700,000 </td><td style="width:93.05pt" valign="bottom">700,000 </td><td style="width:82.3pt" valign="bottom">$ 1.30 </td><td style="width:193.5pt" valign="bottom">May 12, 2026*** </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">1,515,000 </td><td style="width:93.05pt" valign="bottom">1,515,000 </td><td style="width:82.3pt" valign="bottom">$ 3.00 </td><td style="width:193.5pt" valign="bottom">August 17, 2026 </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">700,000 </td><td style="width:93.05pt" valign="bottom">700,000 </td><td style="width:82.3pt" valign="bottom">$ 3.00 </td><td style="width:193.5pt" valign="bottom">November 13, 2026**** </td></tr> <tr><td style="width:39.65pt" valign="bottom"></td><td style="width:92.8pt" valign="bottom">30,000 </td><td style="width:93.05pt" valign="bottom">30,000 </td><td style="width:82.3pt" valign="bottom">$ 1.00 </td><td style="width:193.5pt" valign="bottom">November 14, 2027 </td></tr> <tr><td style="width:39.65pt;border-bottom:3px double #000000" valign="bottom"></td><td style="width:92.8pt;border-bottom:3px double #000000" valign="bottom">150,000 </td><td style="width:93.05pt;border-bottom:3px double #000000" valign="bottom">150,000 </td><td style="width:82.3pt;border-bottom:3px double #000000" valign="bottom">$ 1.50 </td><td style="width:193.5pt;border-bottom:3px double #000000" valign="bottom">November 22, 2027***** </td></tr> </table> 100000 100000 2 2026-02-23 168000 168000 1 2026-05-09 700000 700000 1.3 2026-05-12 1515000 1515000 3 2026-08-17 700000 700000 3 2026-11-13 30000 30000 1 2027-11-14 150000 150000 1.5 2027-11-22 589751 223384 42090 589751 223384 42090 The following weighted average assumptions were used for the Black-Scholes valuation of stock options granted during the years: <table style="border-collapse:collapse;width:411.45pt;margin-left:36pt"><tr><td style="width:175.5pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:78.65pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td style="width:78.65pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td style="width:78.65pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:175.5pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:78.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:78.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:78.65pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:175.5pt" valign="bottom">Risk-free interest rate </td><td style="width:78.65pt" valign="bottom">2.52% </td><td style="width:78.65pt" valign="bottom">2.33% </td><td style="width:78.65pt" valign="bottom">4.45% </td></tr> <tr><td style="width:175.5pt" valign="bottom">Expected life of options </td><td style="width:78.65pt" valign="bottom">1.02 years </td><td style="width:78.65pt" valign="bottom">0.66 year </td><td style="width:78.65pt" valign="bottom">1 year </td></tr> <tr><td style="width:175.5pt" valign="bottom">Annualized volatility </td><td style="width:78.65pt" valign="bottom">142.31% </td><td style="width:78.65pt" valign="bottom">51.62% </td><td style="width:78.65pt" valign="bottom">97.27 </td></tr> <tr style="height:4.15pt"><td style="width:175.5pt;border-bottom:3px double #000000" valign="bottom">Dividends </td><td style="width:78.65pt;border-bottom:3px double #000000" valign="bottom">0.00% </td><td style="width:78.65pt;border-bottom:3px double #000000" valign="bottom">0.00% </td><td style="width:78.65pt;border-bottom:3px double #000000" valign="bottom">0.00% </td></tr> </table>

0.0252

0.0233

0.0445

P1Y7D

P0Y7M28D

P1Y

1.4231

0.5162

97.27

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">9.</kbd>LOSS PER SHARE The weighted average number of common shares outstanding for the year ended January 31, 2026 does not include the 3,363,000 (2025 - 3,333,000; 2024 - 2,465,000) stock options outstanding as the inclusion of these amounts would reduce the loss per share amount and are therefore considered anti-dilutive. Basic and diluted loss per share is calculated using the weighted-average number of common shares outstanding during the year. <table style="border-collapse:collapse;width:432pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:204.3pt;border-top:3px double #000000" valign="top"></td><td style="width:76.5pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td style="width:78.25pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td style="width:72.95pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:204.3pt" valign="top"> </td><td style="width:76.5pt;border-top:0.5pt solid #000000" valign="top"> </td><td style="width:78.25pt;border-top:0.5pt solid #000000" valign="top"> </td><td style="width:72.95pt;border-top:0.5pt solid #000000" valign="top"> </td></tr> <tr><td style="width:204.3pt" valign="top">Basic and diluted loss per common share </td><td style="width:76.5pt" valign="top">$ (0.05) </td><td style="width:78.25pt" valign="top">$ (0.04) </td><td style="width:72.95pt" valign="top">$ (0.03) </td></tr> <tr><td style="width:204.3pt" valign="top"> </td><td style="width:76.5pt" valign="top"> </td><td style="width:78.25pt" valign="top"> </td><td style="width:72.95pt" valign="top"> </td></tr> <tr><td style="width:204.3pt;border-bottom:3px double #000000" valign="top">Weighted average number of common shares outstanding (basic and diluted) </td><td style="width:76.5pt;border-bottom:3px double #000000" valign="bottom">16,816,969 </td><td style="width:78.25pt;border-bottom:3px double #000000" valign="bottom">16,816,969 </td><td style="width:72.95pt;border-bottom:3px double #000000" valign="bottom">16,816,969 </td></tr> </table>

<table style="border-collapse:collapse;width:432pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:204.3pt;border-top:3px double #000000" valign="top"></td><td style="width:76.5pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td style="width:78.25pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td style="width:72.95pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:204.3pt" valign="top"> </td><td style="width:76.5pt;border-top:0.5pt solid #000000" valign="top"> </td><td style="width:78.25pt;border-top:0.5pt solid #000000" valign="top"> </td><td style="width:72.95pt;border-top:0.5pt solid #000000" valign="top"> </td></tr> <tr><td style="width:204.3pt" valign="top">Basic and diluted loss per common share </td><td style="width:76.5pt" valign="top">$ (0.05) </td><td style="width:78.25pt" valign="top">$ (0.04) </td><td style="width:72.95pt" valign="top">$ (0.03) </td></tr> <tr><td style="width:204.3pt" valign="top"> </td><td style="width:76.5pt" valign="top"> </td><td style="width:78.25pt" valign="top"> </td><td style="width:72.95pt" valign="top"> </td></tr> <tr><td style="width:204.3pt;border-bottom:3px double #000000" valign="top">Weighted average number of common shares outstanding (basic and diluted) </td><td style="width:76.5pt;border-bottom:3px double #000000" valign="bottom">16,816,969 </td><td style="width:78.25pt;border-bottom:3px double #000000" valign="bottom">16,816,969 </td><td style="width:72.95pt;border-bottom:3px double #000000" valign="bottom">16,816,969 </td></tr> </table>

-0.05

-0.04

-0.03

16816969 16816969 16816969

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">10.</kbd>TRANSACTIONS WITH AND AMOUNTS OWING TO RELATED PARTIES The Company entered into the following transactions with related parties: <table style="border-collapse:collapse;width:458.75pt;margin-left:36pt"><tr><td style="width:76.15pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td colspan="3" style="width:128.4pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> 2026 </td><td colspan="3" style="width:123.7pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> 2025 </td><td colspan="3" style="width:130.5pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> 2024 </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">Amounts paid or payable </td><td style="width:40.6pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">Option based payment </td><td style="width:47.5pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">Payable at year end </td><td style="width:40.3pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom">Amounts paid or payable </td><td style="width:41.75pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000" valign="bottom">Option based payment </td><td style="width:41.65pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">Payable at year end </td><td style="width:40.5pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom">Amounts paid or payable </td><td style="width:46.1pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000" valign="bottom">Option based payment </td><td style="width:43.9pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">Payable at year end </td></tr> <tr><td style="width:76.15pt;border-top:0.75pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">To a director for: </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:47.5pt;border-top:0.75pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.75pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.75pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:41.65pt;border-top:0.75pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.5pt;border-top:0.75pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:46.1pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:43.9pt;border-top:0.75pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">investor relations </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ 132,000 </td><td style="width:40.6pt;border-bottom:0.5pt solid #000000" valign="bottom">$ 157,063 </td><td style="width:47.5pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">$ 1,120,253 </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ 132,000 </td><td style="width:41.75pt;border-bottom:0.5pt solid #000000" valign="bottom">$ 142,834 </td><td style="width:41.65pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">$ 687,244 </td><td style="width:40.5pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ 132,000 </td><td style="width:46.1pt;border-bottom:0.5pt solid #000000" valign="bottom">$ 42,090 </td><td style="width:43.9pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">$ 319,702 </td></tr> <tr><td style="width:76.15pt;border:0.5pt solid #000000" valign="bottom">consulting (a) </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:40.6pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">119,263 </td><td style="width:47.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">- </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:41.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">13,420 </td><td style="width:41.65pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">- </td><td style="width:40.5pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">900 </td><td style="width:46.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:43.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">- </td></tr> <tr><td style="width:76.15pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:47.5pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.65pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.5pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:46.1pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:43.9pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">To an officer of the company (b) </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">32,175 </td><td style="width:40.6pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:47.5pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">20,186 </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> 30,700 </td><td style="width:41.75pt;border-bottom:0.5pt solid #000000" valign="bottom">33,580 </td><td style="width:41.65pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">23,874 </td><td style="width:40.5pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">40,413 </td><td style="width:46.1pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:43.9pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">23,402 </td></tr> <tr><td style="width:76.15pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:47.5pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.65pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.5pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:46.1pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:43.9pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom"></td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ 164,175 </td><td style="width:40.6pt;border-bottom:3px double #000000" valign="bottom">$ 276,326 </td><td style="width:47.5pt;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom">$ 1,140,439 </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ 162,700 </td><td style="width:41.75pt;border-bottom:3px double #000000" valign="bottom">$ 189,834 </td><td style="width:41.65pt;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom">$ 711,118 </td><td style="width:40.5pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ 173,313 </td><td style="width:46.1pt;border-bottom:3px double #000000" valign="bottom">$ 42,090 </td><td style="width:43.9pt;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom">$ 343,104 </td></tr> </table> <kbd style="position:absolute;font:7pt Times New Roman;margin-left:-18pt">a)</kbd>fees for services which have been capitalized to subcontracts on the Morrison claims and as option based payments and other services which have been allocated to operating expenses as consulting fees. <kbd style="position:absolute;font:7pt Times New Roman;margin-left:0pt">b)</kbd><kbd style="margin-left:18pt"></kbd>for accounting and management services. These transactions were in the normal course of operations and have been measured at their exchange amount, which is the amount of consideration established and agreed to by the related parties. The amounts owing are non-interest bearing, unsecured and have no fixed terms of repayment. <kbd style="margin-left:36pt"></kbd>Compensation of key management personnel Key management personnel include directors and executive officers of the Company. The option based payment amounts (non-cash item) and compensation paid or payable to key management personnel is as follows: <table style="border-collapse:collapse;width:440.1pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:237.6pt;border-top:3px double #000000" valign="bottom"></td><td style="width:67.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td><td style="width:67.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td style="width:67.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:237.6pt" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:237.6pt" valign="bottom">Remuneration or fees </td><td style="width:67.5pt" valign="bottom">$ 172,175 </td><td style="width:67.5pt" valign="bottom">$ 171,200 </td><td style="width:67.5pt" valign="bottom">$ 184,813 </td></tr> <tr><td style="width:237.6pt" valign="bottom">Option based payments (non-cash item) </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">395,589 </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">203,254 </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">42,090 </td></tr> <tr><td style="width:237.6pt;border-bottom:3px double #000000" valign="bottom">Total compensation for key management personnel </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">$ 567,764 </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">$ 374,454 </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">$ 226,903 </td></tr> </table>

The Company entered into the following transactions with related parties: <table style="border-collapse:collapse;width:458.75pt;margin-left:36pt"><tr><td style="width:76.15pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td colspan="3" style="width:128.4pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> 2026 </td><td colspan="3" style="width:123.7pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> 2025 </td><td colspan="3" style="width:130.5pt;border-top:3px double #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> 2024 </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">Amounts paid or payable </td><td style="width:40.6pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">Option based payment </td><td style="width:47.5pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">Payable at year end </td><td style="width:40.3pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom">Amounts paid or payable </td><td style="width:41.75pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000" valign="bottom">Option based payment </td><td style="width:41.65pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">Payable at year end </td><td style="width:40.5pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom">Amounts paid or payable </td><td style="width:46.1pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000" valign="bottom">Option based payment </td><td style="width:43.9pt;padding-left:0.7pt;padding-right:0.7pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">Payable at year end </td></tr> <tr><td style="width:76.15pt;border-top:0.75pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">To a director for: </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:47.5pt;border-top:0.75pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.75pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.75pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:41.65pt;border-top:0.75pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.5pt;border-top:0.75pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:46.1pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:43.9pt;border-top:0.75pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">investor relations </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ 132,000 </td><td style="width:40.6pt;border-bottom:0.5pt solid #000000" valign="bottom">$ 157,063 </td><td style="width:47.5pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">$ 1,120,253 </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ 132,000 </td><td style="width:41.75pt;border-bottom:0.5pt solid #000000" valign="bottom">$ 142,834 </td><td style="width:41.65pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">$ 687,244 </td><td style="width:40.5pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">$ 132,000 </td><td style="width:46.1pt;border-bottom:0.5pt solid #000000" valign="bottom">$ 42,090 </td><td style="width:43.9pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">$ 319,702 </td></tr> <tr><td style="width:76.15pt;border:0.5pt solid #000000" valign="bottom">consulting (a) </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:40.6pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">119,263 </td><td style="width:47.5pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">- </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:41.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">13,420 </td><td style="width:41.65pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">- </td><td style="width:40.5pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">900 </td><td style="width:46.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:43.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">- </td></tr> <tr><td style="width:76.15pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:47.5pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.65pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.5pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:46.1pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:43.9pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">To an officer of the company (b) </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">32,175 </td><td style="width:40.6pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:47.5pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">20,186 </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"> 30,700 </td><td style="width:41.75pt;border-bottom:0.5pt solid #000000" valign="bottom">33,580 </td><td style="width:41.65pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">23,874 </td><td style="width:40.5pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom">40,413 </td><td style="width:46.1pt;border-bottom:0.5pt solid #000000" valign="bottom">- </td><td style="width:43.9pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom">23,402 </td></tr> <tr><td style="width:76.15pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:47.5pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.3pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.75pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:41.65pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td><td style="width:40.5pt;border-top:0.5pt solid #000000;border-left:0.5pt solid #000000" valign="bottom"> </td><td style="width:46.1pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:43.9pt;border-top:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:76.15pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom"></td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ 164,175 </td><td style="width:40.6pt;border-bottom:3px double #000000" valign="bottom">$ 276,326 </td><td style="width:47.5pt;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom">$ 1,140,439 </td><td style="width:40.3pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ 162,700 </td><td style="width:41.75pt;border-bottom:3px double #000000" valign="bottom">$ 189,834 </td><td style="width:41.65pt;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom">$ 711,118 </td><td style="width:40.5pt;border-left:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ 173,313 </td><td style="width:46.1pt;border-bottom:3px double #000000" valign="bottom">$ 42,090 </td><td style="width:43.9pt;border-bottom:3px double #000000;border-right:0.5pt solid #000000" valign="bottom">$ 343,104 </td></tr> </table> 132000 157063 1120253 132000 142834 687244 132000 42090 319702 0 119263 0 0 13420 0 900 0 0 32175 0 20186 30700 33580 23874 40413 0 23402 164175 276326 1140439 162700 189834 711118 173313 42090 343104 Key management personnel include directors and executive officers of the Company. The option based payment amounts (non-cash item) and compensation paid or payable to key management personnel is as follows: <table style="border-collapse:collapse;width:440.1pt;margin-left:41.4pt"><tr style="height:9.45pt"><td style="width:237.6pt;border-top:3px double #000000" valign="bottom"></td><td style="width:67.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td><td style="width:67.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td style="width:67.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:237.6pt" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:67.5pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:237.6pt" valign="bottom">Remuneration or fees </td><td style="width:67.5pt" valign="bottom">$ 172,175 </td><td style="width:67.5pt" valign="bottom">$ 171,200 </td><td style="width:67.5pt" valign="bottom">$ 184,813 </td></tr> <tr><td style="width:237.6pt" valign="bottom">Option based payments (non-cash item) </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">395,589 </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">203,254 </td><td style="width:67.5pt;border-bottom:0.5pt solid #000000" valign="bottom">42,090 </td></tr> <tr><td style="width:237.6pt;border-bottom:3px double #000000" valign="bottom">Total compensation for key management personnel </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">$ 567,764 </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">$ 374,454 </td><td style="width:67.5pt;border-bottom:3px double #000000" valign="bottom">$ 226,903 </td></tr> </table> 172175 171200 184813 395589 203254 42090 567764 374454 226903

<table style="border-collapse:collapse;width:436.5pt;margin-left:36pt"><tr style="height:7.9pt"><td style="width:236.5pt;padding-left:0.7pt;border-top:3px double #000000" valign="bottom"></td><td style="width:72.3pt;padding-left:0.7pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2026 </td><td style="width:65.4pt;padding-left:0.7pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2025 </td><td style="width:62.3pt;padding-left:0.7pt;border-top:3px double #000000;border-bottom:0.5pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:236.5pt;padding-left:0.7pt" valign="bottom"> </td><td style="width:72.3pt;padding-left:0.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:65.4pt;padding-left:0.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:62.3pt;padding-left:0.7pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:236.5pt;padding-left:0.7pt" valign="bottom">Non-cash transactions were as follows: </td><td style="width:72.3pt;padding-left:0.7pt" valign="bottom"> </td><td style="width:65.4pt;padding-left:0.7pt" valign="bottom"> </td><td style="width:62.3pt;padding-left:0.7pt" valign="bottom"> </td></tr> <tr><td style="width:236.5pt;padding-left:0.7pt" valign="bottom"><kbd style="margin-left:12.6pt"></kbd>Exploration and evaluation asset </td><td style="width:72.3pt;padding-left:0.7pt" valign="bottom"> </td><td style="width:65.4pt;padding-left:0.7pt" valign="bottom"> </td><td style="width:62.3pt;padding-left:0.7pt" valign="bottom"> </td></tr> <tr><td style="width:236.5pt;padding-left:0.7pt;border-bottom:3px double #000000" valign="bottom"><kbd style="margin-left:25.9pt"></kbd>included in accounts payable </td><td style="width:72.3pt;padding-left:0.7pt;border-bottom:3px double #000000" valign="bottom">$ 19,102 </td><td style="width:65.4pt;padding-left:0.7pt;border-bottom:3px double #000000" valign="bottom">$ 48 </td><td style="width:62.3pt;padding-left:0.7pt;border-bottom:3px double #000000" valign="bottom">$ 21 </td></tr> </table>

19102 48 21

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">12.</kbd>INCOME TAXES The income tax provision differs from income taxes, which would result from applying the expected tax rate to net loss before income taxes. The following table reconciles the expected income tax expenses (recovery) at the Canadian statutory tax rate to the amounts recognized in the statements of financial position and net loss and comprehensive loss for the years ended January 31, 2026, 2025 and 2024: <table style="border-collapse:collapse;margin-left:36pt"><tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td colspan="2" style="width:63.15pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2026 </td><td colspan="2" style="width:63.15pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td colspan="2" style="width:63.15pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Loss before income taxes </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(918,474) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(633,173) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(523,905) </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Canadian statutory income tax rate </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom">27.0% </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom">27.0% </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom">27.0% </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Computed “expected” income tax expense </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom">(247,988) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom">(170,957) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom">(141,454) </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Differences resulting from: </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Option based payments </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">159,233 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">60,314 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">11,364 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Other items </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">161,755 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">3,643 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">90 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Change in deferred tax assets not recognized </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(73,000) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">107,000 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">130,000 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:3px double #000000" valign="bottom">Provision for income tax expense </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td></tr> </table> The unrecognized deductible temporary differences are as follows: <table style="border-collapse:collapse;width:449.1pt;margin-left:41.4pt"><tr><td style="width:211.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td style="width:75.6pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2026 </td><td style="width:81pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td style="width:81pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td></tr> <tr><td colspan="3" style="width:368.1pt;border-top:0.75pt solid #000000" valign="bottom">Unrecognized deductible temporary differences-Canada </td><td style="width:81pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:211.5pt" valign="bottom"> </td><td style="width:75.6pt" valign="bottom"> </td><td style="width:81pt" valign="bottom"> </td><td style="width:81pt" valign="bottom"> </td></tr> <tr><td style="width:211.5pt" valign="bottom">Non-capital loss carry forwards </td><td style="width:75.6pt" valign="bottom">$ 11,860,000 </td><td style="width:81pt" valign="bottom">$ 12,129,000 </td><td style="width:81pt" valign="bottom">$ 11,735,000 </td></tr> <tr><td style="width:211.5pt" valign="bottom">Exploration and evaluation asset costs </td><td style="width:75.6pt;border-bottom:0.5pt solid #000000" valign="bottom">34,926,000 </td><td style="width:81pt;border-bottom:0.5pt solid #000000" valign="bottom">34,926,000 </td><td style="width:81pt;border-bottom:0.5pt solid #000000" valign="bottom">34,926,000 </td></tr> <tr><td style="width:211.5pt" valign="bottom"> </td><td style="width:75.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:81pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:81pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:211.5pt;border-bottom:3px double #000000" valign="bottom">Total Unrecognized deductible temporary differences not recognized </td><td style="width:75.6pt;border-bottom:3px double #000000" valign="bottom">$ 46,786,000 </td><td style="width:81pt;border-bottom:3px double #000000" valign="bottom">$ 47,055,000 </td><td style="width:81pt;border-bottom:3px double #000000" valign="bottom">$ 46,661,000 </td></tr> </table> The Company has Canadian non-capital loss carry forwards which expire as follows: <table style="border-collapse:collapse;margin-left:41.4pt"><tr><td style="width:57.6pt" valign="bottom"></td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom"></td></tr> <tr><td style="width:57.6pt" valign="bottom">2027 </td><td style="width:20.1pt" valign="bottom">$ </td><td style="width:72pt" valign="bottom">808,472 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2028 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">942,980 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2029 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">466,936 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2030 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">957,373 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2031 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">974,551 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2032 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">876,759 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2033 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">910,383 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2034 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">908,862 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2035 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">606,902 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2036 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">488,504 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2037 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">366,614 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2038 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">336,016 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2039 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">205,817 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2040 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">522,300 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2041 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">406,645 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2042 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">416,062 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2043 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">457,565 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2044 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">477,091 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2045 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">405,078 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2046 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">324,597 </td></tr> <tr><td style="width:57.6pt" valign="bottom"> </td><td style="width:20.1pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:57.6pt" valign="bottom">Total </td><td style="width:20.1pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:72pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">11,859,507 </td></tr> </table> Deferred tax assets have not been recognized in these Financial Statements because at this stage of the Company’s development, it is not determinable that future taxable profit will be available against which the Company can utilize such deferred tax assets.

<table style="border-collapse:collapse;margin-left:36pt"><tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td colspan="2" style="width:63.15pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2026 </td><td colspan="2" style="width:63.15pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td colspan="2" style="width:63.15pt;padding-left:2.9pt;padding-right:2.9pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Loss before income taxes </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(918,474) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(633,173) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(523,905) </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Canadian statutory income tax rate </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom">27.0% </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom">27.0% </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom">27.0% </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Computed “expected” income tax expense </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom">(247,988) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom">(170,957) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000" valign="bottom">(141,454) </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Differences resulting from: </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Option based payments </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">159,233 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">60,314 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">11,364 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Other items </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">161,755 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">3,643 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">90 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">Change in deferred tax assets not recognized </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">(73,000) </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">107,000 </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom">130,000 </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:226.55pt;padding-left:2.9pt;padding-right:2.9pt;border-bottom:3px double #000000" valign="bottom">Provision for income tax expense </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td><td style="width:11.55pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:51.6pt;padding-left:2.9pt;padding-right:2.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">- </td></tr> </table>

-918474

-633173

-523905

0.27 0.27 0.27 -247988 -170957 -141454 159233 60314 11364 161755 3643 90 -73000 107000 130000 0 0 0 The unrecognized deductible temporary differences are as follows: <table style="border-collapse:collapse;width:449.1pt;margin-left:41.4pt"><tr><td style="width:211.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom"></td><td style="width:75.6pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2026 </td><td style="width:81pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2025 </td><td style="width:81pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000" valign="bottom">2024 </td></tr> <tr><td colspan="3" style="width:368.1pt;border-top:0.75pt solid #000000" valign="bottom">Unrecognized deductible temporary differences-Canada </td><td style="width:81pt;border-top:0.75pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:211.5pt" valign="bottom"> </td><td style="width:75.6pt" valign="bottom"> </td><td style="width:81pt" valign="bottom"> </td><td style="width:81pt" valign="bottom"> </td></tr> <tr><td style="width:211.5pt" valign="bottom">Non-capital loss carry forwards </td><td style="width:75.6pt" valign="bottom">$ 11,860,000 </td><td style="width:81pt" valign="bottom">$ 12,129,000 </td><td style="width:81pt" valign="bottom">$ 11,735,000 </td></tr> <tr><td style="width:211.5pt" valign="bottom">Exploration and evaluation asset costs </td><td style="width:75.6pt;border-bottom:0.5pt solid #000000" valign="bottom">34,926,000 </td><td style="width:81pt;border-bottom:0.5pt solid #000000" valign="bottom">34,926,000 </td><td style="width:81pt;border-bottom:0.5pt solid #000000" valign="bottom">34,926,000 </td></tr> <tr><td style="width:211.5pt" valign="bottom"> </td><td style="width:75.6pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:81pt;border-top:0.5pt solid #000000" valign="bottom"> </td><td style="width:81pt;border-top:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:211.5pt;border-bottom:3px double #000000" valign="bottom">Total Unrecognized deductible temporary differences not recognized </td><td style="width:75.6pt;border-bottom:3px double #000000" valign="bottom">$ 46,786,000 </td><td style="width:81pt;border-bottom:3px double #000000" valign="bottom">$ 47,055,000 </td><td style="width:81pt;border-bottom:3px double #000000" valign="bottom">$ 46,661,000 </td></tr> </table> 11860000 12129000 11735000 34926000 34926000 34926000 46786000 47055000 46661000 The Company has Canadian non-capital loss carry forwards which expire as follows: <table style="border-collapse:collapse;margin-left:41.4pt"><tr><td style="width:57.6pt" valign="bottom"></td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom"></td></tr> <tr><td style="width:57.6pt" valign="bottom">2027 </td><td style="width:20.1pt" valign="bottom">$ </td><td style="width:72pt" valign="bottom">808,472 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2028 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">942,980 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2029 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">466,936 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2030 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">957,373 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2031 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">974,551 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2032 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">876,759 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2033 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">910,383 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2034 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">908,862 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2035 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">606,902 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2036 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">488,504 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2037 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">366,614 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2038 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">336,016 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2039 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">205,817 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2040 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">522,300 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2041 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">406,645 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2042 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">416,062 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2043 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">457,565 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2044 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">477,091 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2045 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">405,078 </td></tr> <tr><td style="width:57.6pt" valign="bottom">2046 </td><td style="width:20.1pt" valign="bottom"> </td><td style="width:72pt" valign="bottom">324,597 </td></tr> <tr><td style="width:57.6pt" valign="bottom"> </td><td style="width:20.1pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"> </td></tr> <tr><td style="width:57.6pt" valign="bottom">Total </td><td style="width:20.1pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">$ </td><td style="width:72pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom">11,859,507 </td></tr> </table> 808472 942980 466936 957373 974551 876759 910383 908862 606902 488504 366614 336016 205817 522300 406645 416062 457565 477091 405078 324597 11859507

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">13.</kbd>COMMITMENT The Company has signed an agreement with a hunting lodge in the area of the project, which, conditional on the receipt of applicable permits and licences, requires the Company to pay $100,000 (plus sales tax if required) as full and final compensation for any loss of business which the lodge may suffer in connection with the construction, development and overall operation of the mine. This payment is required to be made three months prior to commencement of construction.

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">15.</kbd>FINANCIAL INSTRUMENTS & FINANCIAL RISK MANAGEMENT The Company's financial instruments include cash and cash equivalents, accounts receivable (excluding GST), accounts payable and accrued liabilities, amounts owing to related parties and reclamation deposits. Cash is recognized at fair value and subsequently measured at amortized cost. The carrying values of these financial instruments approximate their fair values due to their relatively short periods to maturity. The Company’s financial instruments at January 31, 2026 are cash and cash equivalents in the amount of $49,386 (2025 - $53,436), recognized at fair value and subsequently measured at amortized cost. The Company's risk management policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to market conditions and the Company's activities. The Board of Directors has overall responsibility for the establishment and oversight of the Company's risk management framework. The Board has implemented and monitors compliance with risk management policies. The Company has some exposure to credit risk, liquidity risk and market risk as a result of its use of financial instruments. This note presents information about the Company's exposure to each of the above risks and the Company's objectives, policies and processes for measuring and managing these risks. Further quantitative disclosures are included throughout these Financial Statements. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(a)</kbd><kbd style="margin-left:72pt"></kbd>Credit risk Credit risk is the risk of financial loss to the Company if the counterparty to a financial instrument fails to meet its contractual obligations. The Company's receivables primarily relate to Goods & Services Tax input tax credits. Accordingly, the Company views credit risk on receivables as minimal. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(b)</kbd><kbd style="margin-left:72pt"></kbd>Liquidity risk Liquidity risk is the risk that the Company will incur difficulties meeting its financial obligations as they are due. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when due, under both normal and stressed conditions without incurring unacceptable losses or risking harm to the Company's reputation. The Company anticipates it will have adequate liquidity to fund its financial liabilities through cash on hand and future equity contributions. As at January 31, 2026, the Company's current financial liabilities were comprised of accounts payable and accrued liabilities, amounts owing to related parties and office lease liability which have a maturity of less than one year. <kbd style="position:absolute;font:10pt Times New Roman;margin-left:36pt">(c)</kbd><kbd style="margin-left:72pt"></kbd>Market risk Market risk consists of currency risk, commodity price risk and interest rate risk. The objective of market risk management is to manage and control market risk exposures within acceptable limits, while maximizing returns. Currency risk Foreign currency exchange rate risk is the risk that the fair value or future cash flows will fluctuate as a result of changes in foreign exchange rates. Although the Company is considered to be in the exploration stage and has not yet developed commercial mineral interests, the underlying market prices in Canada for minerals are impacted by changes in the exchange rate between the Canadian and United States dollar. As most of the Company's transactions are currently denominated in Canadian dollars, the Company is not exposed to foreign currency exchange risk at this time. Commodity price risk Commodity price risk is the risk that the fair value or future cash flows will fluctuate as a result of changes in commodity prices. Commodity prices for minerals are impacted by world economic events that dictate the levels of supply and demand as well as the relationship between the Canadian and United States dollar, as outlined above. As the Company has not yet developed commercial mineral interests, it is not exposed to commodity price risk at this time. Interest rate risk Interest rate risk is the risk that future cash flows will fluctuate as a result of changes in market interest rates. As the Company has no debt or interest-earning investments, it is not exposed to interest rate risk at this time.

<kbd style="position:absolute;font:10pt Times New Roman;margin-left:-36pt">17.</kbd>SUBSEQUENT EVENTS The Company granted 100,000 options at an exercise price of $1.30 per share for a period of 1 year and 250,000 options at an exercise price of $2.80 per share for a period of 3 years. In May and June 2026, 358,000 shares were issued for gross proceeds of $465,400 from the exercise of options.

Company granted 100,000 options at an exercise price of $1.30 per share for a period of 1 year

100000

1.3

250,000 options at an exercise price of $2.80 per share for a period of 3 years

250000

2.8

358,000 shares were issued for gross proceeds of $465,400 from the exercise of options

358000

465400

Note 5 Note 6Note 6 Note 7Note 7Note 7Note 7 Note 10Note 10Note 10Note 10 Note 8Note 8 Note 8 & 10Note 8 & 10Note 8 & 10Note 8 & 10 Note 9 expired unexercised subsequent to fiscal year end 20,000 exercised and 148,000 expired unexercised subsequent to fiscal year end 308,000 exercised and 392,000 expired unexercised subsequent to fiscal year end 250,000 surrendered subsequent to fiscal year end 30,000 exercised subsequent to fiscal year end fees for services which have been capitalized to subcontracts on the Morrison claims and as option based payments and other services which have been allocated to operating expenses as consulting fees. for accounting and management services.