Decade Resources Ltd. — Interim / Quarterly Report 2026

Dec 29, 2025

DECADE RESOURCES LTD.
CONDENSED INTERIM FINANCIAL STATEMENTS

October 31, 2025

(Stated in Canadian Dollars)

(Unaudited – Prepared by Management)

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NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

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

The accompanying unaudited condensed interim financial statements have been prepared by and are the responsibility of the Company’s management. The Company’s independent auditor has not performed a review of these condensed interim financial statements.

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DECADE RESOURCES LTD.

CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION

October 31, 2025 and April 30, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

	October 31, 2025	April 30, 2025
ASSETS
Current assets
Cash	$ 421,531	$ 25,560
Marketable securities	70,000	30,000
GST receivable	20,177	33,750
Accounts receivable – Note 5	10,000	10,000
Prepaid expenses	-	6,500
Total current assets	521,708	105,810
Non-current assets
Reclamation deposits	286,285	286,285
Property and equipment – Note 4	1,986	2,209
Exploration advances – Note 7	601,000	106,000
Exploration and evaluation assets – Note 5 and Schedule 1	9,853,444	9,684,532
Total non-current assets	10,742,715	10,079,026
Total assets	11,264,423	$ 10,184,836
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities – Note 7	569,830	471,013
Total liabilities	569,830	471,013
SHAREHOLDERS’ EQUITY
Share capital – Note 6	35,543,173	34,203,194
Contributed surplus	4,707,916	4,392,051
Deficit	(29,556,496)	(28,881,422)
Total shareholders’ equity	10,694,593	9,713,823
Total liabilities and shareholders’ equity	$ 11,264,423	$ 10,184,836
APPROVED ON BEHALF OF THE BOARD
“Ed Kruchkowski”	Director	“Randy Kasum”

The accompanying notes form an integral part of these financial statements

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DECADE RESOURCES LTD.

CONDENSED INTERIM STATEMENTS OF COMPREHENSIVE LOSS

For the three and six months ended October 31, 2025 and 2024
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

	Three months ended October 31,		Six months ended October 31,
	2025	2024	2025	2024
General and administrative expenses
Accounting and audit fees	$ 64,395	$ 4,000	$ 72,145	$ 27,000
Consulting fees – Note 7	33,000	21,000	53,000	41,660
Depreciation	112	140	223	280
Filing fees	19,023	11,596	21,226	11,596
Insurance	10,850	-	10,850	-
Interest and bank charges	549	89	683	98
Legal fees	18,803	2,244	26,171	2,244
Management fees – Note 7	60,000	60,000	120,000	120,000
Office and telephone	12,526	4,522	23,799	14,533
Shareholder communications	113,160	134,410	163,005	155,075
Share-based payments – Note 6	219,324	-	219,324	-
Transfer agent fees	3,444	3,758	4,648	5,633
Loss before other items	(555,186)	(241,759)	(715,074)	(378,119)
Other item
Other income	-	162,459	-	183,630
Unrealized gain on investment	40,000	-	40,000	-
	40,000	162,459	40,000	183,630
Net loss and comprehensive loss for the period	$ (515,186)	$ (79,300)	$ (675,074)	$ (194,489)
Basic and diluted loss per share	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average number of shares outstanding	173,511,863	104,561,913	164,088,416	96,680,159

The accompanying notes form an integral part of these financial statements

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DECADE RESOURCES LTD.
CONDENSED INTERIM STATEMENTS OF CASH FLOWS
For the six months ended October 31, 2025 and 2024
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

	2025	2024
OPERATING ACTIVITIES
Net loss for the period	$ (675,074)	$ (194,489)
Add items not affecting cash:
Depreciation	223	280
Unrealized gain on marketable securities	(40,000)	-
Share-based payments	219,324	-
Other income	-	(183,630)
	(495,527)	(377,839)
Changes in working capital items related to operations:
GST receivable	13,573	46,063
Prepaid expenses	6,500	46,500
Accounts payable and accrued liabilities	98,817	20,001
	(376,637)	(265,275)
FINANCING ACTIVITIES
Shares issued for cash – net	1,436,520	1,389,600
Loan payable	-	40,000
	1,436,520	1,429,600
INVESTING ACTIVITIES
Exploration advances	(495,000)	(790,000)
Exploration and evaluation assets - net	(168,913)	(1,108,517)
	(663,913)	(1,898,517)
Change in cash	395,971	(734,192)
Cash, beginning of period	25,560	795,909
Cash, ending of period	$ 421,531	$ 61,717
Supplemental disclosure of cash flow information:
Cash paid for:
Interest	$ -	$ -
Income taxes	$ -	$ -

The accompanying notes form an integral part of these financial statements

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DECADE RESOURCES LTD.

CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

For the six months ended October 31, 2025 and 2024
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

	Share Capital		Share Subscriptions Received	Contributed Surplus	Deficit	Total Shareholders' Equity
	Number of Shares	Amount
Balance at April 30, 2025	149,970,403	$ 34,203,194	$ -	$ 4,392,051	$(28,881,422)	$ 9,713,823
Private placements	48,497,621	1,499,000	-	-	-	1,499,000
Share issuance costs	-	(159,021)	-	96,541	-	(62,480)
Stock-based compensation	-	-	-	219,324	-	219,324
Net and comprehensive loss	-	-	-	-	(675,074)	(675,074)
Balance at October 31, 2025	198,464,024	$ 35,543,173	$ -	$ 4,707,916	$(29,556,496)	$ 10,694,593
Balance at April 30, 2024	88,798,404	$ 32,198,722	$ -	$ 3,978,192	$(20,587,666)	$ 15,589,248
Private placements	39,334,286	1,521,000	(60,000)	-	-	1,461,000
Share issuance costs	-	(276,293)	-	204,893	-	(71,400)
Net and comprehensive loss	-	-	-	-	(194,489)	(194,489)
Balance at October 31, 2024	128,132,690	$ 33,443,429	$ (60,000)	$ 4,183,085	$(20,782,155)	$ 16,784,359

The accompanying notes form an integral part of these financial statements

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DECADE RESOURCES LTD.
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 1 Corporate Information

Decade Resources Ltd. (the “Company”) is an exploration stage company incorporated on March 3, 2006, under the laws of the Province of British Columbia, Canada. Its principal business activity is the acquisition, exploration and evaluation of mineral properties located in the Province of British Columbia, Canada. The Company’s common shares are traded on the TSX Venture Exchange (“TSX-V”) under the symbol “DEC”.

The Company’s head office and principal business address is 611 – 8th Street, Box 211, Stewart, British Columbia, Canada, V0T 1W0.

Note 2 Basis of Preparation

a) Statement of Compliance

These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and in accordance with International Accounting Standard (“IAS”) IAS 34 “Interim Financial Reporting”.

These condensed interim financial statements do not include all of the information and disclosures required to be included in annual financial statements prepared in accordance with IFRS. These condensed interim financial statements should be read in conjunction with the Company’s audited annual financial statements for the years ended April 30, 2025 and 2024.

These condensed interim financial statements were authorized for issue on December 29, 2025 by the directors of the Company.

b) Basis of Measurement

These condensed interim financial statements have been prepared using the historical cost basis except for financial instruments that have been measured at fair value.

The condensed interim financial statements are presented in Canadian dollars, which is the Company’s functional currency and presentation currency.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 2 Basis of Preparation – (cont’d)

c) Going Concern

At October 31, 2025, the Company has not generated revenue from operations, has an accumulated deficit of $29,556,496 and expects to incur further costs in the exploration and evaluation of its mineral properties. These financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has not yet determined whether its mineral properties contain economically recoverable reserves. The recoverability of the amounts shown for exploration and evaluation assets is dependent upon the confirmation of economically recoverable reserves, the Company’s ability to obtain adequate financing to develop the reserves, and its ability to commence profitable operations in the future. These conditions indicate the existence of a material uncertainty which may cast significant doubt about the Company’s ability to continue as a going concern.

The Company has been able to fund operations and mineral property exploration through equity financings. The continued uncertainty in the financial equity markets may make it difficult to raise capital through the private placement of shares. The junior mining industry is considered speculative in nature which could make it more difficult to fund. While the Company is using its best efforts to achieve its business plans by examining various financing alternatives, there is no assurance that the Company will be successful with its financing ventures.

These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

d) Critical Accounting Estimates and Judgements

The preparation of financial statements in compliance with IFRS requires management to make certain critical accounting estimates. It also requires management to exercise judgement in applying the Company’s accounting policies.

The Company makes estimates and assumptions about the future that affect the reported amounts of assets and liabilities. Estimates and judgments are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions.

The effect of a change in an accounting estimate is recognized prospectively by including it in comprehensive income in the period of the change, if the change affects that period only; or in the period of the change and future periods, if the change affects both.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 2 Basis of Preparation – (cont’d)

d) Critical Accounting Estimates and Judgements – (cont’d)

Information about critical accounting estimates and judgments in applying accounting policies that have the most significant risk of causing material adjustment to the carrying amounts of assets and liabilities recognized in the Company’s financial statements within the next financial year are discussed below:

i. Exploration and Evaluation Expenditures

The application of the Company’s accounting policy for exploration and evaluation expenditure requires judgment in determining whether it is likely that future economic benefits will flow to the Company, which may be based on assumptions about future events or circumstances. Estimates and assumptions made may change if new information becomes available. If, after expenditure is capitalized, information becomes available suggesting that the recovery of expenditure is unlikely, the amount capitalized is written off in the profit or loss in the period the new information becomes available.

ii. Title to Mineral Properties

Although the Company has taken steps to verify title to mineral properties in which it has an interest, these procedures do not guarantee the Company’s title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects.

iii. Rehabilitation Provisions

Rehabilitation provisions have been determined to be $Nil based on the Company’s internal estimates. Assumptions, based on the current economic environment, have been made which management believes are a reasonable basis upon which to estimate the future liability. These estimates take into account any material changes to the assumptions that occur when reviewed regularly by management. Estimates are reviewed annually and are based on current regulatory requirements. Significant changes in estimates of contamination, restoration standards and techniques will result in changes to provisions from period to period.

iv. Share-Based Payments

The Company uses the Black-Scholes Option Pricing Model for valuation of share-based payments. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 2 Basis of Preparation – (cont’d)

d) Critical Accounting Estimates and Judgements – (cont’d)

v. Recognition of Deferred Income Tax Assets and Liabilities

The carrying amount of deferred income tax assets and liabilities is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Changes in estimates of future taxable profit can materially affect the amount of deferred income tax assets and liabilities recognized from period to period.

vi. Going Concern

Management has applied judgments in the assessment of the Company’s ability to continue as a going concern when preparing its financial statements. Management prepares the financial statements on a going concern basis unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative to do so. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but is not limited to, twelve months from the end of the reporting period. Please refer to Note 2(c) for additional information.

Note 3 Significant Accounting Policies

The preparation of financial data is based on accounting principles and practices consistent with those used in the preparation of the audited financial statements as at April 30, 2025. The accompanying unaudited condensed interim financial statements should be read in conjunction with the Company’s audited financial statements for the year ended April 30, 2025.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 4 Property and Equipment

	Computer Equipment	Furniture and Fixtures	Machinery and Equipment	Total
Cost
Balance April 30, 2024, April 30, 2025 and October 31, 2025	$ 6,177	$ 12,911	$ 26,453	$ 45,541
Accumulated depreciation
Balance April 30, 2024	$ 6,113	$ 12,113	$ 24,546	$ 42,772
Depreciation	19	160	381	560
Balance April 30, 2025	6,132	12,273	24,927	43,332
Depreciation	7	63	153	223
Balance October 31, 2025	$ 6,139	$ 12,336	$ 25,080	$ 43,555
Net book value
Balance October 31, 2025	$ 38	$ 575	$ 1,373	$ 1,986
Balance April 30, 2025	$ 45	$ 638	$ 1,526	$ 2,209

Note 5 Exploration and Evaluation Assets

The Company’s exploration and evaluation assets are described below. Also refer to Schedule 1 attached to the end of these financial statements.

a) Red Cliff

On October 28, 2008, the Company entered into an option agreement with Mountain Boy Minerals Ltd. (“Mountain Boy”), a public company with directors in common with the Company, to acquire a 60% interest in the Red Cliff property located 25 miles north of Stewart, British Columbia. In order to earn the 60% interest the Company was required to incur exploration expenditures on the property of $1,250,000 over three years. The Company incurred all the required exploration expenditures to earn its 60% interest and entered into a joint venture agreement with Mountain Boy to operate the property on a 60/40 joint venture basis.

At October 31, 2011, the Company was informed by Mountain Boy that it would not be funding its share of the Red Cliff exploration expenditures and thereby would have its interest diluted under the formula set out in the joint venture agreement. As at October 31, 2011, the Company was owed $548,285 in exploration expenditures by Mountain Boy. Effective November 1, 2011, Mountain Boy agreed to dilute its interest in the Red Cliff property by 5% in lieu of the $435,785 and consequently the Red Cliff joint venture is now run on a 65/35 joint venture basis.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 5 Exploration and Evaluation Assets – (cont’d)

a) Red Cliff – (cont’d)

On October 16, 2017, the Company entered into a Royalty Purchase Agreement to acquire 65% of the 1% net smelter return (“NSR”) royalty on certain mineral claims on the Red Cliff property. In consideration, the Company paid $6,500 and committed to issue 280,000 common shares to the vendor. On November 13, 2017, the Company issued the 280,000 common shares fair valued at $0.085 per common share totalling $23,800 and the NSR was cancelled.

On March 28, 2019, the Company and Mountain Boy entered into an amending agreement which revised the amount recoverable from Mountain Boy as of the date of the agreement to $925,000. As a result, the Company recorded a decrease of $210,255 in the recoverable amount from Mountain Boy which is reflected in the net cost recovery in exploration expenditures.

Since March 28, 2019 there have been no significant amendments to the agreement with MTB.

During the year ended April 30, 2025, the Company charged a net amount of $Nil (2024: $169,376) in exploration expenditures to MTB. The company wrote of the accounts receivable of $55,331 from MTB.

During the year ended April 30, 2025, the Company recorded an impairment of the property of $8,770,541 to a carrying value of $600,000. On August 5, 2025, the Company entered into an definitive purchase agreement to dispose of its 65% interest in the Red Cliff Property and 100% interest in the Premier East Property to Mabel Ventures Inc (“Mabel”) for $709,915. Mabel would also reimburse the company for its share of the previously advanced funds related to the reclamation bond for permitting at Red Cliff. On September 15, 2025, Mabel provided the Company with a notice of termination of the agreement due to permitting issues relating to the Red Cliff Property.

b) Copper River Valley Properties

The Copper River Valley properties are comprised of three main claim blocks; Terrace Gold-Darranelle-Treasure Mountain group of claims located in northern British Columbia. The property consists of 52 contiguous mineral claims.

The property is subject to a 3.0% net smelter return upon exercise of the option, and upon the commencement of commercial production. Upon commencement of commercial production, the Company shall make quarterly royalty payments owing and payable to the Optioner one-hundred-twenty days following the completion of the Company’s quarter end. The Net smelter return payments are to be based on US value of metal prices and the Company is entitled to purchase 2% of the Royalty from the Optioner at any time for a cash payment of $1,000,000.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 5 Exploration and Evaluation Assets – (cont’d)

b) Copper River Valley Properties – (cont’d)

On June 29, 2022, the Company granted Pluto Ventures Inc. (“Pluto”) the option to acquire a 100% interest in the Terrace Property. The option will be exercised by Pluto over a period of three years by making the following payments and completing expenditures on the property of at least $2,000,000 by the fourth anniversary of Pluto’s shares being listed on the Canadian Securities Exchange:

Cash and share issuances:
i) $10,000 on signing (received);
ii) a further $10,000 (outstanding) and issuance of 200,000 (received) common shares on November 15, 2024;
iii) a further $20,000 (outstanding) and issuance of 200,000 (received subsequent to October 31, 2025) common shares on October 31, 2025;
iv) a further $30,000 and issuance of 200,000 common shares on October 31, 2026; and
v) a further $40,000 and issuance of 200,000 common shares on October 31, 2027.

c) Del Norte Property

On January 6, 2020, the Company entered into an option agreement to acquire up to 75% interest in the Del Norte property, situated 34 kilometres east of Stewart, BC, comprising of 5,830.16 hectares in 13 separate claims. The property is subject to a 2% net smelter returns royalty. Consideration to earn the first 55% interest consist of cash payments of $200,000 over four years, issuance of 800,000 common shares on signing, issuance of $180,000 of common shares of the Company over four years and exploration expenditures of $4,000,000 over five years as follows:

Cash payments and share issuances:
i) $20,000 on signing (paid) and the issuance of 800,000 common shares (issued) of the Company upon receipt of exchange approval;
ii) $30,000 cash payment (paid) and issuance of $30,000 worth of common shares (issued) of the company on or before the earlier of January 6, 2021 and the date which is 30 days after the date on which the Company has made the year one expenditures;
iii) $40,000 cash payment (paid) and issuance of $40,000 worth of common shares (issued) of the company on or before the earlier of January 6, 2022 and the date which is 30 days after the date on which the Company has made the year two expenditures;
iv) $50,000 cash payment (paid) and issuance of $50,000 worth of common shares (issued) of the company on or before the earlier of January 6, 2023 and the date which is 30 days after the date on which the Company has made the year three expenditures;
v) $32,000 cash payment (paid) and issuance of $88,000 worth of common shares (issued) of the company on or before the earlier of January 6, 2024 and the date which is 30 days after the date on which the Company has made the year four expenditures:

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 5 Exploration and Evaluation Assets – (cont’d)

c) Del Norte Property – (cont’d)

Exploration expenditures:

i) $400,000 on or before January 6, 2021 (incurred);
ii) $500,000 on or before January 6, 2022 (incurred);
iii) $600,000 on or before January 6, 2023 (incurred);
iv) $1,000,000 on or before January 6, 2024 (incurred); and
v) $1,500,000 on or before January 6, 2025 (incurred).

The Company has the right to earn an additional 20% interest in the property by placing the property into production.

d) Lord Nelson Property

On August 24, 2020, the Company entered into an option agreement to acquire up to 75% interest in the Lord Nelson property, situated in the Skeena mining division of the province of British Columbia for interest in 6 mineral claims. Consideration to earn the first 55% interest consist of cash payments of $100,000 over four years, issuance of 400,000 common shares on signing, issuance of $90,000 of common shares of the Company over four years and exploration expenditures of $2,000,000 over five years as follows:

Cash payments and share issuances:

ii) $10,000 on signing (paid) and the issuance of 400,000 common shares (issued) of the Company upon receipt of exchange approval;
ii) $15,000 cash payment (paid subsequently) and issuance of $15,000 worth of common shares (issued subsequently) of the company on or before the earlier of August 24, 2021 and the date which is 30 days after the date on which the Company has made the year one expenditures;
iii) $20,000 cash payment and issuance of $20,000 worth of common shares of the company on or before the earlier of August 24, 2022 and the date which is 30 days after the date on which the Company has made the year two expenditures (extended to August 24, 2025);
iv) $25,000 cash payment and issuance of $25,000 worth of common shares of the company on or before the earlier of August 24, 2023 and the date which is 30 days after the date on which the Company has made the year three expenditures (extended to August 24, 2025);
v) $30,000 cash payment and issuance of $30,000 worth of common shares of the company on or before the earlier of August 24, 2024 and the date which is 30 days after the date on which the Company has made the year four expenditures (extended to August 24, 2025);

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 5 Exploration and Evaluation Assets – (cont’d)

d) Lord Nelson Property – (cont’d)

Exploration expenditures:

i) $200,000 on or before August 24, 2021 (incurred);
ii) $250,000 on or before August 24, 2022 (extended to August 24, 2025);
vi) $300,000 on or before August 24, 2023 (extended to August 24, 2025);
vii) $500,000 on or before August 24, 2024 (extended to August 24, 2025); and
viii) $750,000 on or before August 24, 2025.

The Company has the right to earn an additional 20% interest in the property by placing the property into production.

During the year ended April 30, 2024, the Company recorded an impairment of $370,400 to write-off the $64,000 in acquisition costs and $306,400 in exploration expenditures.

The Company did not issue the shares or incurred the expenditures as of August 24, 2025 and has no further interest or obligations regarding the property.

e) North Mitchell property

On March 27, 2025, the Company entered into an option agreement to acquire up to 70% interest in the North Mitchell property, situated north of Stewart, BC, comprising of 963.45 hectares in for interest in 6 mineral claims. The property is subject to a 1% net smelter returns royalty. Consideration to earn the 70% interest consist of issuance of 14,688,565 common shares over four years as follows:

Share issuances:

i) The issuance of 2,937,713 common shares (issued) of the Company upon receipt of exchange approval:
ii) The issuance of 2,937,713 common shares of the Company on or before the earlier of October 17, 2026;
iii) The issuance of 2,937,713 common shares of the Company on or before the earlier of March 27, 2027;
iv) The issuance of 2,937,713 common shares of the Company on or before the earlier of March 27, 2028; and
v) The issuance of 2,937,713 common shares of the Company on or before the earlier of March 27, 2029.

The Company has the right to purchase half of the net smelter returns royalty (0.5%) for $3,000,000 within 12 months before the date commercial production commences.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 5 Exploration and Evaluation Assets – (cont’d)

f) Bonaparte property

On October 19, 2025, the Company entered into an option agreement to acquire up to 80% interest in the Bonaparte property, situated north of Kamloops, BC, comprising of 2,969.58 hectares in for interest in 3 mineral claims. The property is subject to a 1% net smelter returns royalty. Consideration to earn the 80% interest consist of issuance of 14,688,565 common shares over four years as follows:

Share issuances:

i) The issuance of 2,937,713 common shares (issued subsequent to October 31, 2025) of the Company upon receipt of exchange approval:
ii) The issuance of 2,937,713 common shares of the Company on or before the earlier of October 27, 2026;
iii) The issuance of 2,937,713 common shares of the Company on or before the earlier of October 27, 2027;
iv) The issuance of 2,937,713 common shares of the Company on or before the earlier of October 27, 2028; and
v) The issuance of 2,937,713 common shares of the Company on or before the earlier of October 27, 2029.

The Company has the right to purchase half of the net smelter returns royalty (1.00%) for $3,000,000 within 12 months before the date commercial production commences.

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 6 Share Capital

a) Authorized:
Unlimited number of common shares without par value.

b) Issued:
For the six months ended October 31, 2025:

On June 13, 2025, the Company issued a total of 8,814,286 flow-through units at $0.035 per unit for proceeds of $308,500. Each flow-through unit consists of one flow-through common share and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.05 per share. The Company paid a cash finder’s fee totalling $16,200 and issued 462,857 warrants at $0.05 per share. The fair value of the finders’ warrants is $9,203, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.05, expected volatility 155.50%, expected life 2 years, risk-free interest rate 2.68%, expected dividend yield 0%, and forfeiture rate 0%.

On August 12, 2025, the Company issued a total of 4,000,000 flow-through units at $0.03 per unit for proceeds of $120,000. Each flow-through unit consists of one flow-through common share and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 36 months, one additional common share of the Company, at a price of $0.05 per share.

On September 16, 2025, the Company issued a total of 8,500,000 units at $0.03 per unit for proceeds of $255,000. Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 60 months, one additional common share of the Company, at a price of $0.05 per share. The Company paid a cash finder’s fee totalling $20,400 and issued 600,000 warrants, with a 2 year term, at $0.05 per share. The fair value of the finders’ warrants is $19,184, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.05, expected volatility 155.92%, expected life 2 years, risk-free interest rate 2.46%, expected dividend yield 0%, and forfeiture rate 0%.

On October 9, 2025, the Company issued a total of 27,183,335 units at $0.03 per unit for proceeds of $815,500.05. Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.05 per share. The Company paid a cash finder’s fee totalling $25,880 and issued 862,666 warrants, with a 2 year term, at $0.05 per share. The fair value of the finders’ warrants is $24,082, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.05, expected volatility 153.73%, expected life 2 years, risk-free interest rate 2.45%, expected dividend yield 0%, and forfeiture rate 0%.

17

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 6 Share Capital – (cont’d)

b) Issued: - (cont’d)

Year ended April 30, 2025

On April 17, 2025, the Company issued 2,937,713 common shares at a fair value of $0.03 per share for a total of $88,131 pursuant to the North Mitchell property agreement.

On September 30, 2024, the Company issued a total of 29,714,286 units at $0.035 per unit for proceeds of $1,040,000. Each unit consists of one common share and one transferable common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.06 per share. The Company paid a cash finder’s fee totalling $71,400 and issued 2,040,000 warrants at $0.06 per share. The fair value of the finders’ warrants is $84,615, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.06, expected volatility 160.53%, expected life 5 years, risk-free interest rate 2.74%, expected dividend yield 0%, and forfeiture rate 0%.

On December 3, 2024, the Company issued a total of 18,900,000 flow-through units at $0.05 per unit for proceeds of $945,000. Each flow-through unit consists of one flow-through common share and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.08 per share. The fair value of the warrants is $283,500, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.08, expected volatility 146.80%, expected life 2 years, risk-free interest rate 3.07%, expected dividend yield 0%, and forfeiture rate 0%. The Company paid a cash finder’s fee totalling $64,400 and issued 1,288,000 warrants at $0.08 per share. The fair value of the finders’ warrants is $26,004, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.08, expected volatility 146.80%, expected life 2 years, risk-free interest rate 3.07%, expected dividend yield 0%, and forfeiture rate 0%.

18

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 6 Share Capital – (cont’d)

c) Commitments:

Share Purchase Warrants:

A summary of share purchase warrant activity for the six months ended October 31, 2025 and for the year ended April 30, 2025 is presented below:

| | Six months ended
October 31, 2025 | | Year ended
April 30, 2025 | |
| --- | --- | --- | --- | --- |
| | Warrants | Weighted Average Exercise Price | Warrants | Weighted Average Exercise Price |
| Outstanding, beginning of period | 88,955,813 | $0.12 | 33,143,527 | $0.21 |
| Issued | 50,503,144 | $0.05 | 61,562,286 | $0.07 |
| Expired | (20,968,526) | $0.25 | (5,750,000) | $0.15 |
| Exercised | - | $- | - | - |
| Outstanding, end of period | 118,490,431 | $0.07 | 88,955,813 | $0.12 |

Share Purchase Warrants:

At October 31, 2025, the Company had 118,490,431 share purchase warrants outstanding entitling the holders the right to purchase one common share for each warrant held as follows:

Number of Warrants	Exercise Price	Expiry Date
3,575,000	$0.16	April 6, 2026
2,850,001	$0.16	May 4, 2026
9,620,000	$0.08	September 10, 2026
20,188,000	$0.08	December 3, 2026
9,277,143	$0.05	June 12, 2027
680,000	$0.05	September 16, 2027
28,046,001	$0.05	October 7, 2027
4,000,000	$0.05	August 12, 2028
31,754,286	$0.06	September 30, 2029
8,500,000	$0.05	September 16, 2030
118,490,431

At October 31, 2025, the outstanding share purchase warrants had a weighted average remaining contractual life of 1.87 years.

19

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 6 Share Capital – (cont’d)

Share-based Compensation Plan:

The Company has a Stock Option Plan (“the Plan”) under which it is authorized to grant options to directors, officers, consultants or employees of the Company. The number of options granted under the Plan is limited to 10% of the number of issued and outstanding common shares of the Company at the date of grant. The exercise price of options granted under the Plan may not be less than the market value of the Company’s common shares on the date of grant. Options granted under the Plan have a maximum life of five years and vest on the date of grant or over periods determined by management.

A summary of stock option activity for the six months ended October 31, 2025 and for the year ended April 30, 2025 is presented below:

| | Six months ended
October 31, 2025 | | Year ended
April 30, 2025 | |
| --- | --- | --- | --- | --- |
| | Number | Weighted Average Exercise Price | Number | Weighted Average Exercise Price |
| Outstanding, beginning of period | 8,850,000 | $0.14 | 8,850,000 | $0.14 |
| Granted | 6,000,000 | $0.05 | 61,562,286 | $0.07 |
| Expired | (750,000) | 0.25 | - | - |
| Outstanding, end of period | 14,100,000 | $0.13 | 8,850,000 | $0.14 |

On October 31, 2025, the Company granted 6,000,000 stock options to directors and consultants of the Company. The stock options entitle the holders thereof the right to purchase one common share for each option at $0.05 until October 31, 2030 and vested on the grant date. The fair value of the stock options of $219,324 or $0.0366 per option was determined using the Black Scholes option valuation model with the following assumptions

Risk-free interest rate	2.70%
Expected life of options	5.00 years
Annualized volatility	155.30%
Dividend rate	0%
Forfeiture rate	0%
Share price on grant date	$ 0.045

20

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 6 Share Capital – (cont’d)

Share-based Compensation Plan (cont’d):

At October 31, 2025, the Company had 14,100,000 stock options outstanding entitling the holders thereof the right to purchase one common share for each option held as follows:

Number of Options	Exercise Price	Expiry Date
1,000,000	$0.25	May 5, 2026
1,500,000	$0.10	October 24, 2027
1,000,000	$0.22	August 29, 2028
4,600,000	$0.10	February 28, 2029
6,000,000	$0.05	October 31, 2030
14,100,000

At October 31, 2025, the outstanding stock options had a weighted average remaining contractual life of 3.17 years.

Note 7 Related Party Transactions

The Company incurred the following charges by directors of the Company, by companies with directors in common with the Company and by a company managed by a director of the Company for the three months ended October 31, 2025 and 2024:

	2026	2025
Consulting fees	$ 45,000	$ 30,000
Exploration and evaluation assets – supervision	-	12,500
Management fees	120,000	120,000
Share-based payments	139,080	-
	$ 304,080	$ 162,500

At October 31, 2025, exploration advances includes $601,000 (April 30, 2025: $86,020) paid to companies with directors in common.

At October 31, 2025, accounts payable and accrued liabilities includes $181,020 (April 30, 2025: $106,000) due to a director of the Company, to companies with directors in common with the Company and to a company managed by a director of the Company for unpaid fees.

21

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 7 Related Party Transactions – (cont’d)

Key management compensation

The Company considers its Chief Executive Officer and Chief Financial Officer to be key management. During the six months ended October 31, 2025 and 2024, the Company incurred the following key management charges:

	2025	2024
Management fees	$ 120,000	$ 120,000
	$ 120,000	$ 120,000

Note 8 Financial Instruments and Risk Management

The carrying amounts of financial assets and liabilities approximate their fair value.

Financial instruments measured at fair value are classified into one of 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:

• Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and
• Level 3 – Inputs that are not based on observable market data.

The Company’s financial instruments consist of cash, accounts receivable and accounts payable. Cash has been classified as FVTPL. Accounts receivable are classified as loans and receivables. Accounts payable are classified as other financial liabilities.

The fair value of the Company’s cash was measured using level one of the fair value hierarchy.

The Company’s financial instruments are exposed to certain financial risks. The risk exposures and the impact on the Company’s financial instruments are summarized below.

Credit Risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Company’s cash and accounts receivable are exposed to credit risk. The Company reduces its credit risk on cash by placing these instruments with large financial institutions.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company’s considers its exposure to interest rate risk to be not significant.

22

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 8 Financial Instruments and Risk Management – (cont’d)

Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it always has sufficient cash to allow it to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. When future cash flows are uncertain, the liquidity risk increases.

The Company budgets with a plan to have sufficient cash on demand to meet expected operational expenses for a period of 30 days. The Company monitors its risk of shortage of funds by monitoring the maturity dates of existing trade and other accounts payable. The Company prepares monthly operating expenditure budgets, which are regularly monitored and updated as considered necessary. The Company intends to meet its current obligations through funds to be raised via the private placement of shares and through related party loans.

Note 9 Capital Disclosures

The Company’s objective when managing capital is to safeguard its ability to continue as a going concern. In order to facilitate the management of its capital requirements, the Company prepares periodic budgets that are updated as necessary. The Company manages its capital structure and makes adjustments to it to effectively support the Company’s objectives. In order to pay for general administrative costs, the Company will use its existing working capital and raise additional amounts as needed. The Company will continue to explore its mineral properties.

The Company reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. The Company considers shareholders equity and working capital as components of its capital base. The Company may access capital through the issuance of shares or the disposition of assets.

Management historically funds the Company’s expenditures by issuing share capital rather than using capital sources that require fixed repayments of principal and/or interest.

The Company is not subject to externally imposed capital requirements and does not have exposure to asset-backed commercial paper or similar products. The Company believes it will be able to raise additional equity capital as required, but recognizes the uncertainty attached thereto.

There has been no change in the Company’s approach to capital management during the periods ended October 31, 2025 and 2024.

23

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Decade Resources Ltd.
Notes to the Condensed Interim Financial Statements
October 31, 2025
(Stated in Canadian Dollars)
(Unaudited – Prepared by Management)

Note 10 Subsequent Events

On November 21, 2025, the Company issued a total of 24,250,000 flow-through units at $0.04 per unit for proceeds of $9,700,000. Each flow-through unit consists of one flow-through common share and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 24 months, one additional common share of the Company, at a price of $0.06 per share. In addition, the Company issued a total of 5,000,000 non-flow-through units at $0.04 per unit for proceeds of $200,000. Each non-flow-through unit consists of one non-flow-through common share and one transferable non-flow-through common share purchase warrant. Each warrant entitles the holder to purchase, for a period of 36 months, one additional common share of the Company, at a price of $0.06 per share. The Company paid a cash finder’s fee totalling $86,800 and issued 2,170,000 warrants at $0.06 per share. The fair value of the finders’ warrants is $59,967, determined using the Black-Scholes Option Pricing Model using the following assumptions: exercise price $0.06, expected volatility 159%, expected life 2 years, risk-free interest rate 2.44%, expected dividend yield 0%, and forfeiture rate 0%.

On December 8, 2025 the Company received 200,000 shares from Pluto Ventures at a fair value of $0.40 for a total of $80,000 pursuant to the Copper River property agreement.

On December 10, 2025, the Company issued 2,937,713 common shares at a fair value of $0.04 per share for a total of $117,509 pursuant to the Bonaparte property agreement.

24

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Schedule 1

DECADE RESOURCES LTD.

CONDENSED INTERIM SCHEDULE OF EXPLORATION AND EVALUATION ASSETS

for the six months ended October 31, 2025

(Stated in Canadian Dollars)

(Unaudited – Prepared by Management)

	Red Cliff	North Mitchell	Bonaparte	Copper River	Del Norte Property	Total
Property acquisition costs
Balance, April 30, 2025 and
October 31, 2025	$ -	$ 88,131	$ -	$ 424,115	$ 404,000	$ 916,246
Deferred exploration costs
Balance, April 30, 2025	4,954,130	-	-	4,252,049	4,122,109	13,328,288
Assays	-	-	1,421	21,086	-	22,507
Consulting	-	10,000	-	-	-	10,000
Equipment rental	-	-	-	17,990	34,105	52,095
Field and supplies	-	-	4,238	20,899	370	25,507
Geological	-	-	11,075	16,400	-	27,475
Helicopter	-	30,024	-	-	-	30,024
Surveying	-	-	-	1,304	-	1,304
Balance, October 31, 2025	4,954,130	40,024	16,734	4,329,728	4,156,584	13,497,200
Cost recoveries
Balance, April 30, 2025 and
October 31, 2025	(4,354,130)	-	-	(70,000)	(135,872)	(4,560,002)
Totals	$ 600,000	$ 128,155	$ 16,734	$ 4,683,843	$ 4,424,712	$ 9,853,444

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Schedule 1

DECADE RESOURCES LTD.

CONDENSED INTERIM SCHEDULE OF EXPLORATION AND EVALUATION ASSETS

for the year ended April 30, 2025

(Stated in Canadian Dollars)

(Unaudited – Prepared by Management)

	Red Cliff	North Mitchell	Copper River	Del Norte Property	Total
Property acquisition costs
Balance, April 30, 2024	$ 468,250	$ -	$ 417,376	$ 404,000	$ 1,289,626
Impairment write-off	(468,250)	-	-	-	(468,250)
Shares issued	-	88,131	-	-	88,131
Cash paid	-	-	6,739	-	6,739
Balance, April 30, 2025	$ -	$ 88,131	$ 424,115	$ 404,000	$ 916,246
Deferred exploration costs
Balance, April 30, 2024	13,255,622	-	2,792,870	3,132,511	19,181,003
Assays	-	-	50,027	41,633	91,664
Drilling – Note 7	-	-	807,704	333,457	1,150,445
Equipment rental – Note 7	-	-	159,468	132,480	291,948
Field and supplies	-	-	186,294	99,734	286,028
Geological	800	-	57,084	24,400	82,284
Helicopter	-	-	-	331,267	347,071
Labour	-	-	21,000	9,025	30,025
Supervision – Note 7	-	-	177,600	17,600	195,200
Impairment write-off	(8,302,292)	-	-	-	(8,302,291)
Balance, April 30, 2025	4,954,130	-	4,252,049	4,122,109	13,328,288
Cost recoveries
Balance, April 30, 2024	(4,354,130)	-	(10,000)	(135,872)	(4,500,002)
Cost recovery	-	-	(60,000)	-	(60,000)
Balance, April 30, 2025	(4,354,130)	-	(70,000)	(135,872)	(4,560,002)
Totals	$ 600,000	$ 88,131	$ 4,606,164	$ 4,390,237	$ 9,684,532