MCF Energy Ltd. — Capital/Financing Update 2026

Feb 16, 2026

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Note: [01 Mar 2017] – The following is a consolidation of 13-501F1. It incorporates amendments to this document that came into effect on March 1, 2017. This consolidation is provided for your convenience and should not be relied on as authoritative.

FORM 13-501F1 CLASS 1 REPORTING ISSUERS AND CLASS 3B REPORTING ISSUERS – PARTICIPATION FEE

MANAGEMENT CERTIFICATION

I, Jana Lillies , an officer of Form 13-501F1 (the Form ) being submounted to my knowledge, having exthe Form is complete and accurate.	itted hereunder to the A
"Jana Lillies"	April 27, 2022
Name: Jana Lillies Title: CFO	Date:
Reporting Issuer Name:	Stuve Gold Cor	rp.
End date of previous financial year:	December 31, 2021
Type of Reporting Issuer:	[×] Class 1 reportir	ng [ ] Class 3B reporting issuer
Highest Trading Marketplace:	TSV-V
Market value of listed or quoted equity securities:
Equity Symbol		STUV
1st Specified Trading Period (dd/mm/	yy)	January 1, 2021 March 31, 2021
Closing price of the security in the class last trading day of the specified trading such security was listed or quoted on the marketplace	period in which	\$0.30 (i)

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Number of securities in the class or series of such security outstanding at the end of the last trading day of			27,898,48
the specified trading period	day of
	(i) x (ii)	\$	8,369,545
Market value of class or series		(A)
2nd Specified Trading Period (dd/mm/yy)		April 1, 2021	June 30, 2021 to
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading		\$	0.2
marketplace	Š	(iii)
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period	•	(iv)	27,898,48
the specified trading period		(1V)	6,974,62
Market value of class or series	(iii) x (iv	(B)	0,774,02
3rd Specified Trading Period (dd/mm/yy)		July 1, 2021	September 30, 202 to
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading		\$	0.2
marketplace	>	(v)
Number of securities in the class or series of such security outstanding at the end of the last trading day of	2		29,648,484
the specified trading period		(vi)
	(v) x (vi)	\$	6,226,182
Market value of class or series		(C)

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4th Specified Trading Period (dd/mm/yy)		October 1, 2021	December 31, 2021 to
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace		(vii)	0.21 \$
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period		(viii)	29,648,484
Market value of class or series	(vii) x (viii)	(D)	6,226,182 \$
5th Specified Trading Period (dd/mm/yy)			to
Closing price of the security in the class or series on the last trading day of the specified trading period in which such security was listed or quoted on the highest trading marketplace		(ix)	\$
Number of securities in the class or series of such security outstanding at the end of the last trading day of the specified trading period		(x)
Market value of class or series	(ix) x (x)	(E)	\$
Average Market Value of Class or Series (Calculate the simple average of the market value of the class or series of security for each applicable specified trading period (i.e. A through E above))		(1)	6,949,132 \$

(Repeat the above calculation for each other class or series of equity securities of the reporting issuer (and a subsidiary, if applicable) that was listed or quoted on a marketplace at the end of the previous financial year)

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Fair value of outstanding debt securities:

(Provide details of how value was determined)		(2)	\$ 0.0000
Capitalization for the previous financial year	(1) + (2)		6,949,132 \$
Participation Fee			400.00 \$
Late Fee, if applicable			\$ 0.0000
Total Fee Payable (Participation Fee plus Late Fee)			400.00 \$