Lease Liability

6 Months Ended

Jun. 30, 2026

Lease Liability

Lease Liability

6. Lease Liability

The Company’s undiscounted lease obligations consisted of the following:

		June 30,				December 31,
		2026				2025
Gross lease obligation – minimum lease payments
1 year		$	739,332			$	86,575
2- 3 years			1,370,388				9,250
4-5 years			177,595				-

Future interest expense on lease obligations			(254,707	)			(4,343	)
Total lease liability		$	2,032,608			$	91,482

Current lease liability		$	601,924			$	82,569
Non-current lease liability			1,430,684				8,913
Total lease liability		$	2,032,608			$	91,482

Interest expense for the three and six months ended June 30, 2026, was $21,092 and $25,228, respectively (three and six months ended June 30, 2025 – $9,545 and $18,451, respectively).

Additions to lease liabilities for the three and six months ended June 30, 2026 was $2,052,984 and $2,119,744, respectively (three and six months ended June 30, 2025 - $38,155 and $38,155, respectively), relating to lease contracts for mining related mobile equipment. The incremental borrowing rates range from 8.1% and 15.0%.