The Company has evaluated subsequent events from the balance sheet date through the date on which these unaudited condensed financial statements were issued. Other than as described in the notes herein and below, the Company did not have any material subsequent events that impacted its unaudited condensed financial statements or disclosures. 

Elko Joint Exploration and Development Agreement

On July 16, 2026, the Company entered into a Joint Exploration and Development Agreement (the “Elko JEDA”) with TRG Holdings, LLC relating to the development of a critical mineral processing hub in Elko, Nevada. The Elko JEDA establishes a framework for the parties’ joint exploration, technical evaluation, regulatory coordination, and commercial scoping, and does not itself create an operating joint venture. A Current Report on Form 8-K describing the Elko JEDA was filed with the SEC under Item 1.01 (Entry into a Material Definitive Agreement). As the agreement was executed after June 30, 2026, no amounts related to the Elko JEDA are reflected in the accompanying financial statements.

Elko Heat Company Letter of Intent

On July 1, 2026, the Company received a non-binding letter of intent from Elko Heat Company under which it confirmed its commitment to use commercially reasonable good-faith efforts to arrange and provide up to $40 million of joint development capital in support of the Company’s pursuit of a Bureau of Land Management Solar Energy Zone competitive lease and associated solar development activities at the Company’s Millers property. A Current Report on Form 8-K describing the letter of intent was furnished to, and not filed with, the SEC under Item 8.01 (Other Events) on July 7, 2026, and is therefore not incorporated by reference into this or any other Exchange Act report. The letter of intent is non-binding and remains subject to the negotiation and execution of definitive agreements and the satisfaction of customary conditions; accordingly, no assurance can be given that a definitive transaction will be consummated, and no amounts related to the letter of intent are reflected in the accompanying financial statements.