CMP Mining Inc. — Interim / Quarterly Report 2026

Apr 1, 2026

CMP MINING INC.

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED FEBRUARY 28, 2026 and 2025

(Unaudited - Expressed in Canadian Dollars)

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NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed interim financial statements, they must be accompanied by a notice indicating that the condensed interim financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim financial statements of CMP Mining Inc. (the "Company") have been prepared by and are the responsibility of management. These condensed interim financial statements as at February 28, 2026 and for the nine months then ended have not been reviewed or audited by the Company's independent auditors.

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CMP Mining Inc.
Condensed Interim Statements of Financial Position
(Expressed in Canadian Dollars)

As at	Note	(unaudited) February 28, 2026	(audited) May 31, 2025
ASSETS		$	$
CURRENT
Cash		2,921	24,322
Goods and Services Tax receivable		2,965	4,062
		5,886	28,384
Exploration and evaluation asset	4	47,700	37,700
TOTAL ASSETS		53,586	66,084
LIABILITIES
CURRENT
Accounts payable and accrued liabilities	8	103,197	97,571
Loans payable	5-8	79,000	40,000
		182,197	137,571
TOTAL LIABILITIES		182,197	137,571
SHAREHOLDERS' EQUITY (DEFICIT)
Common shares	6	668,258	658,258
Share-based payments reserve	6	55,460	55,460
Deficit		(852,329)	(785,205)
TOTAL SHAREHOLDERS' EQUITY (DEFICIT)		(128,611)	(71,487)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)		53,586	66,084

NATURE OF OPERATIONS AND GOING CONCERN (Note 1)

Approved and authorized for issue on behalf of the Board on March 31, 2026:

"Norman Yurik" Director

"Terri Anne Welyki" Director

The accompanying notes are an integral part of these condensed interim financial statements.

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CMP Mining Inc.
Condensed Interim Statements of Comprehensive Loss
(Expressed in Canadian Dollars)

	Note	Three months ended February 28, 2026	Three months ended February 28, 2025	Nine months ended February 28, 2026	Nine months ended February 28, 2025
	$	$	$	$	$
EXPENSES
Audit fees and tax compliance		5,000	5,000	13,250	17,436
Exploration and evaluation	8	1,700	-	11,675	-
Legal fees		-	431	844	1,071
Office and general administrative	9	4,714	3,347	20,823	16,050
Regulatory and transfer agent		3,923	4,695	16,265	20,021
		15,337	13,473	62,857	54,578
LOSS BEFORE OTHER ITEMS		(15,337)	(13,473)	(62,857)	(54,578)
OTHER ITEMS
Interest income		-	285	111	1,538
Interest expense	5-8	(1,636)	(545)	(4,378)	(1,634)
Impairment of investment		-	(34,802)	-	(34,802)
TOTAL OTHER ITEMS		(1,636)	(35,062)	(4,267)	(34,898)
LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD		(16,973)	(48,535)	(67,124)	(89,476)
Loss per share, basic and diluted		(0.00)	(0.00)	(0.00)	(0.01)
Weighted average number of common shares outstanding – basic and diluted		15,041,333	14,788,000	14,871,516	14,788,000

The accompanying notes are an integral part of these condensed interim financial statements.

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CMP Mining Inc.
Condensed Interim Statements of Changes in Equity (Deficit)
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

	Common Shares		Reserve	Deficit	Total
	Number of Shares	Amount
		$	$	$	$
Balance, May 31, 2024	14,788,000	658,258	43,194	(653,161)	48,291
Net loss for the period	-	-	-	(89,476)	(89,476)
Balance, February 28, 2025	14,788,000	658,258	43,194	(742,637)	(41,185)
Share based payments (Note 6)	-	-	12,266	-	12,266
Net loss for the period	-	-	-	(42,568)	(42,568)
Balance, May 31 2025	14,788,000	658,258	55,460	(785,205)	(71,487)
Shares issued for acquisition exploration assets (Note 4)	200,000	10,000	-	-	10,000
Net loss for the period	-	-	-	(67,124)	(67,124)
Balance, February 28, 2026	14,988,000	668,258	55,460	(852,329)	(128,611)

The accompanying notes are an integral part of these condensed interim financial statements.

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CMP Mining Inc.
Condensed Interim Statements of Cash Flows
(Unaudited - expressed in Canadian Dollars)

For the period ended	February 28, 2026	February 28, 2025
Cash provided by (used in):	$	$
OPERATING ACTIVITIES
Net loss for the period	(67,124)	(89,476)
Impairment of investment	-	34,802
Net changes in non-cash working capital items
Goods and Services Tax receivable	1,096	601
Accounts payable and accrued liabilities	5,627	11,555
Net cash used in operating activities	(60,401)	(42,518)
INVESTING ACTIVITY
Exploration and evaluation asset	-	(10,000)
Cash used by investing activity	-	(10,000)
FINANCING ACTIVITY
Loan borrowing	69,000	-
Repayment of loan	(30,000)	-
Cash generated by financing activity	39,000	-
Change in cash	(21,401)	(52,518)
Cash, beginning of year	24,322	102,995
Cash, end of year	2,921	50,477
Supplemental information
Cash paid on interest	5,198	-
Cash paid on income taxes	-	-
Cash received from interest	111	1,538
Exploration and evaluation asset shares issued (Note 4)	10,000	-

The accompanying notes are an integral part of these condensed interim financial statements.

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

1. NATURE OF OPERATIONS AND GOING CONCERN

CMP Mining Inc., formerly known as Vanadium 23 Capital Corporation, (the "Company" or "CMP") was incorporated on January 30, 2018 as 1151139 BC Ltd. pursuant to the Business Corporations Act of British Columbia. The Company's principal business activities include the acquisition and exploration of mineral property assets. The Company's common shares are listed for trading on the Canadian Securities Exchange ("CSE") under the symbol "CMP".

The head office and principal address of the Company is located at Suite 1400- 1055 West Hastings St. Vancouver, BC, V6E 2E9. The registered and records office of the Company is located at Suite 2200 - 885 West Georgia St, Vancouver, BC, V6C 3E8.

These condensed interim financial statements have been prepared in accordance with accounting principles applicable to a going concern. The Company has no current source of revenues from operations. The Company's continuation as a going concern is dependent upon the successful results from its exploration activities and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations. For the period ended February 28, 2026, the Company incurred a net loss of $67,124. As of February 28, 2026, the Company had an accumulated deficit of $852,329. These circumstances indicate the existence of material uncertainties that may cast significant doubt as to the Company's ability to continue as a going concern. Management intends to finance operating costs over the next twelve months with cash on hand and the private placement of common shares. Should the Company be unable to continue as a going concern, the net realizable value of its assets may be materially less than the amounts on its statement of financial position. These condensed interim financial statements do not include any adjustments relating to the recoverability and classification of recorded assets amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Such adjustments could be material.

2. MATERIAL ACCOUNTING POLICIES

a) Statement of compliance

These condensed interim financial statements have been prepared in accordance with IFRS Accounting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB").

These condensed interim financial statements were authorized for issue in accordance with a resolution from the Board of Directors on March 31, 2026.

b) Basis of presentation

These condensed interim financial statements have been prepared on the historical cost basis with the exception of financial instruments that are measured at fair value, as explained in the accounting policies set out below. In addition, condensed interim financial statements have been prepared using the accrual basis of accounting, except for cash flow information. The accounting policies set out below have been applied consistently to all periods presented in these condensed interim financial statements.

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

2. MATERIAL ACCOUNTING POLICIES (continued)

c) Accounting policies

These condensed interim financial statements have been prepared on the basis of accounting policies and methods of computation consistent with those applied in the Company's audited financial statements as at May 31, 2025 and for the year then ended.

The following accounting standards and amendments are effective for future periods:

d) New standards and amendments issued but not yet effective

IFRS 18 Presentation and Disclosure in Financial Statements

IFRS 18 introduces three sets of new requirements to give investors more transparent and comparable information about companies' financial performance for better investment decisions.

1. Three defined categories for income and expenses operating, investing and financing, to improve the structure of the income statement, and require all companies to provide new defined subtotals, including operating profit.
2. Requirement for companies to disclose explanations of management-defined performance measures (MPMs) that are related to the income statement.
3. Enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes.

3. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS

The preparation of the condensed interim financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may vary from these estimates. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates will, by definition, seldom equal the actual results. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future years affected.

Critical accounting estimates

Significant accounting judgments that management has made in the process of applying accounting policies and that have the most significant effect on the amounts recognized in the financial statements include, but are not limited to, the following:

Critical judgments in applying accounting policies

Critical accounting judgments are accounting policies that have been identified as being complex or involving subjective judgments or assessments. Critical accounting judgments include, but are not limited to, the following:

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

3. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS (continued)

Going concern

The assessment of whether the going concern assumption is appropriate requires management to take into account all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. The Company is aware that material uncertainties exist related to events or conditions that may cast significant doubt upon the Company's ability to continue as a going concern.

Recoverability of the carrying value of the Company's exploration and evaluation asset

Evaluating for recoverability during the exploration and evaluation phase requires judgment in determining whether future economic benefits from future exploitation, sale or otherwise are likely. Evaluations may be more complex where activities have not reached a stage that permits a reasonable assessment of the existence of reserves or resources. Management must make certain estimates and assumptions about future events or circumstances, including, but not limited to, the interpretation of geological, geophysical and seismic data, the Company's intention and financial ability to continue exploration and evaluation activities, contractual issues with joint venture partners, the impact of government legislation and political stability in the region, and the impact of current and expected future metal prices on potential reserves.

4. EXPLORATION AND EVALUATION ASSET AND EXPENSE

On December 22, 2021, the Company entered into an option agreement (the "Agreement") with Cariboo Rose Resources Ltd. ("Cariboo") whereby the Company will make series of option payments and incur certain exploration expenditures for the 70% interest in a property located in Merritt, British Columbia, all over a period of four years.

On October 17, 2022, the Agreement was amended to delay the payment schedule by one year and to increase the size of the property. On December 19, 2022, the Agreement was amended to change the payment due December 22, 2023, from a cash payment to a payment of cash or common shares at the election of the Company. On June 30, 2024, the Agreement was amended to delay the payment schedule by another one year and change the payment schedule. On March 26, 2025, the Agreement was further amended to change the payment schedule, increase the full term to seven years and to change exploration expenditures required.

As at February 28, 2026, the Company has exploration and evaluation asset of $47,700 (May 31, 2025 - $37,700). During the nine months ended February 28, 2026 the Company had issued 200,000 common shares at $0.05 per share for a fair value of $10,000.

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

4. EXPLORATION AND EVALUATION ASSET AND EXPENSE (continued)

On March 26, 2025, the Agreement was amended to the following schedule:

Due Date	Cash	Common Shares	Exploration Expenditures
	$	$	$
December 24, 2021	20,000 (1)	100,000 (2)	-
October 31, 2024	10,000 (1)	-	295,000(Expended)
December 22, 2025	-	200,000(2)	20,000 (Expensed)
December 22, 2026	40,000(3)	-	500,000
December 22, 2027	50,000(3)	-	500,000
December 22, 2028	110,000(3)	-	705,000
Total	230,000	300,000	2,020,000

(1) The Company has made the payment
(2) The Company has issued the common shares
(3) Payable in cash or equivalent market value of common shares, at the election of the Company

During the year ended May 31, 2022, the Company made a $20,000 cash payment and issued 100,000 shares at $0.05 per share for a value of $5,000 to Cariboo according to the Agreement. In addition, it incurred $2,700 for staking claims. During the year ended May 31, 2025, the Company made a $10,000 cash payment to Cariboo according to the amended agreement.

The following table summarizes the exploration and evaluation expenses incurred at the property:

	February 28, 2026	February 28, 2025
	$	$
Analytical and samples related	5,938	-
Equipment and warehouse rental	232	-
Exploration travel and related	474	-
Geological and geoscience	5,031	-
Total	11,675	-

5. LOANS PAYABLE

On January 9, 2023, the Company entered into unsecured demand loan agreements with three shareholders for total proceeds of $40,000. The demand loans bear interest at an annual rate of 5%, to be calculated and accrued monthly. The loans and their accrued interest have a maturity date that is the earlier of (i) one year from the date of listing of the Company's shares on the CSE, which is January 26, 2023; and (ii) January 31, 2024. On January 31, 2024, these loans matured and have become due on demand.

On June 20, 2025, the Company entered into two new loan agreements for total proceeds of $54,000 and renewed one of its existing loan agreements in the amount of $10,000. Both the new and renewed loans will bear interest at a rate of 9% per annum, compounded annually and not in advance, with a maturity date of December 31, 2026. In July 2025, the Company repaid two of its existing unsecured demand loans for total principal of $30,000 plus accrued interest.

On January 21, 2026, the Company entered into a demand loan agreement with the chief executive officer of the Company for unsecured demand loan. The loan bear interest rate of 9% per annum to be calculated and accrued monthly and are repayable on demand.

For the nine months ended February 28, 2026, the Company incurred accrued interest of $4,378 (February 28, 2025 - $1,634).

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

6. SHARE CAPITAL

Authorized

The Company's authorized capital consists of an unlimited number of common shares without par value.

Issued and outstanding

As at February 28, 2026, there were 14,988,000 common shares issued and outstanding.

Issued share capital during the nine months ended February 28, 2026

On November 06, 2025 the Company issued 200,000 common shares at $0.05 per share for a fair value of $10,000 to Cariboo according to the Agreement.

Issued share capital during the year ended May 31, 2025

There was no change in share capital during the years ended May 31, 2025 and 2024.

As at February 28, 2026, there were 217,030 common shares held in escrow (May 31, 2025 – 868,120). Escrowed shares are to be released from escrow in six equal tranches commencing on July 26, 2023 and continue every six months thereafter.

Stock options

The Company adopted the Stock Option Plan providing the granting of options to employees, officers, directors, consultants, and consulting companies. The maximum number of common shares issuable under Stock Option Plan shall not, in aggregate, exceed that number which is equal to 10% of the Shares which are issued and outstanding on the relevant Grant Date. The options can be granted for a maximum term of 10 years.

On March 26, 2025, the Company granted stock options to directors and officers of the Company to purchase up to an aggregate 375,000 common shares of the Company. These stock options are exercisable at a price of $0.04 per share, for a term of five years and vest immediately. The expected volatilities used for the stock options granted were based on the historical share price of comparable companies. The options were valued using the Black-Scholes model under the following assumptions: a risk-free rate of 2.76%, an estimated annualized volatility of 164.70%, an expected life of 5 years, a nil dividend yield, a grant date share price of $0.035, and an exercise price of $0.04.

As at February 28, 2026, the Company had the following options outstanding and exercisable:

Date issued	Expiry date	Exercise price	Number of options outstanding	Number of options exercisable
May 8, 2024	May 8, 2029	$ 0.04	550,000	550,000
March 26, 2025	March 26, 2030	$ 0.04	375,000	375,000

As at February 28, 2025, the weighted average remaining life of the exercisable options is 3.55 years (2025 - 4.30 years).

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

6. SHARE CAPITAL (continued)

Stock options (continued)

The following is a summary of the Company's stock option activities:

	Number of options	Weighted average exercise price
Balance, May 31, 2024	650,000	$0.04
Granted	375,000	$0.04
Canceled	(100,000)	($0.04)
Balance May 31, 2025 and February 28, 2026	925,000	$0.04

7. CAPITAL DISCLOSURE

The Company's objectives when managing capital are to safeguard the Company's ability to continue as a going concern in order to pursue the sourcing and exploration of resource properties. The Company does not have any externally imposed capital requirements to which it is subject.

The Company considers the aggregate of its share capital, reserve and deficit as capital. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares or dispose of assets or adjust the amount of cash. There has been no change in the Company's approach to capital management during the years presented.

8. RELATED PARTY BALANCES AND TRANSACTIONS

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.

Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of executive and non-executive members of the Company's Board of Directors and corporate officers.

During the period ended February 28, 2026, the Company incurred accounting and tax preparation fees of $19,472 (February 28, 2025 - $14,340) included in office and general administrative expenses accrued to Fehr & Associates, a corporation that employs the chief financial officer for accounting and tax services.

As at February 28, 2026, the Company has included in accounts payable and accrued liabilities $49,312 (May 31, 2025 - $28,583) owing to Fehr & Associates. This amount is unsecured, non-interest-bearing and due on demand.

On January 21, 2026, the Company entered into a demand loan agreement with the chief executive officer of the Company for unsecured demand loan. The loan bear interest rate of 9% per annum to be calculated and accrued monthly and are repayable on demand. During the period ended February 28, 2026, interest expense of $141 (February 28, 2025 - $nil) was recorded relating to the demand loan.

9. FINANCIAL INSTRUMENTS AND FINANCIAL RISK

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CMP Mining Inc.
Notes to the Condensed Interim Financial Statements
For the nine months ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)

Fair value

The carrying values of cash, accounts payable and accrued liabilities, and loans payable approximate their fair values due to the short-term nature of these instruments or market rates of interest.

Credit risk

The Company's credit risk is primarily attributable to cash. The Company has no significant concentration of credit risk arising from operations. The Company limits its exposure to credit risk for cash by placing it with high quality Canadian financial institutions.

Liquidity risk

The Company manages liquidity risk through the management of its capital structure, as outlined in Note 7. The Company monitors its ability to meet its short-term exploration and administrative expenditure requirements by raising additional funds through share issuances when required. As of February 28, 2026, the Company had a working capital deficit of $176,311 (May 31, 2025 – $109,187).

Price risk

The Company is exposed to price risk with respect to commodity prices. The Company's future mining operations will be significantly affected by changes in the market price for precious metal. Precious metal prices fluctuate daily and are affected by numerous factors beyond the Company's control. The supply and demand for commodities, level of interest rates, rate of inflation, investment decisions by large holders of commodities and stability of exchange rates can all cause significant fluctuations in commodity prices.

Foreign exchange risk

Foreign exchange risk is the risk that fair value or future cash flows will fluctuate due to changes in foreign exchange rates. The Company is not exposed to significant foreign exchange risk.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company is not exposed to significant cash flow fluctuations due to interest rate changes on its loans payable, as it bears interest at a fixed rate of 9%.

10. SEGMENTED INFORMATION

The Company's reportable operating segments, which are components of the Company's business where separate financial information is available and which are evaluated on a regular basis by the Company's Chief Executive Officer, who is the Company's chief operating decision maker, for the purpose of assessing performance. The Company's operating segments are its exploration and evaluation assets and expenditures which are incurred in Canada.

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