Perseverance Metals — Audit Report / Information 2024

Sep 26, 2025

DeVISSERGRAY LLP
CHARTERED PROFESSIONAL ACCOUNTANTS

401-905 West Pender St
Vancouver BC V6C 1L6
www.devissergray.com
t 604.687.5447
f 604.687.6737

September 26, 2025

British Columbia Securities Commission
Alberta Securities Commission
Manitoba Securities Commission
Ontario Securities Commission
Nova Scotia Securities Commission
Financial and Consumer Services Commission, New Brunswick
Office of the Superintendent of Securities Service Newfoundland and Labrador

Dear Sirs/Mesdames:

Re: Perseverance Metals Inc. (the "Company")

We refer to the Prospectus of Perseverance Metals Inc. dated September 26, 2025 (the "Prospectus") relating to the qualification for distribution of 4,902,099 unrestricted common shares, 2,451,027 warrants and 28,245 finder warrants, for no additional consideration, upon the deemed exercise of 4,902,099 subscription receipts to units, each consisting of one common share and one-half of one common share purchase warrant.

We consent to being named and to the use, in the Prospectus, of our report dated May 29, 2025 to the shareholders of the Company on the following consolidated financial statements:

• Consolidated statements of financial position as at December 31, 2024 and 2023; and
• Consolidated statements of loss and comprehensive loss, changes in equity, and cash flows for the years ended December 31, 2024 and 2023, and a summary of material accounting policies and other explanatory information.

We report that we have read the Prospectus and all information therein and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from the consolidated financial statements upon which we have reported or that are within our knowledge as a result of our audit of such consolidated financial statements. We have complied with Canadian generally accepted standards for an auditor's consent to the use of a report of the auditor included in an offering document, which does not constitute an audit or review of the Prospectus as these terms are described in the CPA Canada Handbook – Assurance.

This letter is provided solely to the securities regulatory authorities to which it is addressed and should not be used for any other purpose.

Sincerely,

De Visser Gray LLP

De Visser Gray LLP
Chartered Professional Accountants