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Talent Infinity Resource Developments Inc. — Interim / Quarterly Report 2026
Nov 20, 2025
48195_rns_2025-11-19_2152a4ec-0327-495b-b677-4f2647cdbc48.pdf
Interim / Quarterly Report
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TALENT INFINITY RESOURCE DEVELOPMENTS INC.
(an exploration stage company)
CONDENSED INTERIM FINANCIAL STATEMENTS
(Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 AND 2024
Unaudited – Prepared by Management
(Expressed in Canadian Dollars)
2
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING
The accompanying unaudited condensed interim financial statements of Talent Infinity Resource Developments Inc. ("Talent Infinity" or the "Company") are the responsibility of management and the Board of Directors.
The unaudited condensed interim financial statements have been prepared by management on behalf of the Board of Directors, in accordance with the accounting policies disclosed in the notes to the unaudited condensed interim financial statements. Where necessary, management has made informed judgments and estimates in accounting for transactions which were not complete at the statement of financial position date. In the opinion of management, the unaudited condensed interim financial statements have been prepared within acceptable limits of materiality and are in accordance with International Accounting Standard 34 - Interim Financial Reporting using accounting policies consistent with International Financial Reporting Standards appropriate in the circumstances.
Management has established processes, which are in place to provide it sufficient knowledge to support management representations that it has exercised reasonable diligence that: (i) the unaudited condensed interim financial statements do not contain any untrue statement of material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it is made, as of the date of, and for the periods presented by, the unaudited condensed interim financial statements; and (ii) the unaudited condensed interim financial statements fairly present in all material respects the financial condition, results of operations and cash flows of the Company, as of the date of and for the periods presented by the unaudited condensed interim financial statements.
The Board of Directors is responsible for reviewing and approving the unaudited condensed interim financial statements together with other financial information of the Company and for ensuring that management fulfills its financial reporting responsibilities. An Audit Committee assists the Board of Directors in fulfilling this responsibility. The Audit Committee meets with management to review the financial reporting process and the unaudited condensed interim financial statements together with other financial information of the Company. The Audit Committee reports its findings to the Board of Directors for its consideration in approving the unaudited condensed interim financial statements together with other financial information of the Company for issuance to the shareholders.
Management recognizes its responsibility for conducting the Company's affairs in compliance with established financial standards, and applicable laws and regulations, and for maintaining proper standards of conduct for its activities.
NOTICE TO READER
The accompanying unaudited condensed interim financial statements of the Company have been prepared by, and are the responsibility of management. The unaudited condensed interim financial statements have not been reviewed by the Company's auditors.
TALENT INFINITY RESOURCE DEVELOPMENTS INC.
(Formerly Talent Infinity Capital Fund Corporation) (an exploration stage company)
CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
(Unaudited - Expressed in Canadian Dollars)
| As at, | Notes: | August 31, 2025 | May 31, 2025 |
|---|---|---|---|
| ASSETS | |||
| Current | |||
| Cash | $ 5,396 | $ 4,491 | |
| Prepaid expenses | 3,583 | 3,583 | |
| Receivables | 5,362 | 8,857 | |
| Total current assets | 14,341 | 16,931 | |
| Non-current | |||
| Exploration and evaluation assets | 5 | 120,000 | 120,000 |
| TOTAL ASSETS | $ 134,341 | $ 136,931 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Current | |||
| Accounts payable and accrued liabilities | 4 | $ 40,651 | $ 40,845 |
| Loans Payable | 8 | 214,545 | 213,045 |
| Total current liabilities | $ 255,196 | 253,890 | |
| Non-current | |||
| Loan payable | 8 | 41,542 | 41,542 |
| TOTAL LIABILITIES | $ 296,738 | $ 295,432 | |
| Shareholders’ Equity | |||
| Share Capital | 7 | 479,593 | 479,593 |
| Contributed surplus | 2,316 | 2,316 | |
| Deficit | (644,307) | (640,410) | |
| Total shareholders’ equity | (162,398) | (158,501) | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY-DEFICIENCY | $ 134,341 | $ 136,931 |
Nature and continuance of operations (Note 1)
Approved and authorized by the Board on November 19, 2025:
/s/ “Derrick Gaon”
/s/ “Barry Bergstrom”
Derrick Gaon, Director
Barry Bergstrom, Director
The accompanying notes are an integral part of these financial statements.
TALENT INFINITY RESOURCE DEVELOPMENTS INC.
(Formerly Talent Infinity Capital Fund Corporation) (an exploration stage company)
CONDENSED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS
For the periods ended August 31, 2025 and 2024
(Unaudited – Expressed in Canadian Dollars)
| Three Months Ended | ||
|---|---|---|
| August 31, 2025 | August 31, 2024 | |
| EXPENSES | ||
| Management and Consulting fees | $ - | $ 3,557 |
| General and office administration | - | 1,865 |
| Professional fees | - | 5,000 |
| Filing fees | 3,899 | 2,574 |
| 3,899 | 12,996 | |
| OTHER INCOME | ||
| Interest income | 2 | 607 |
| Foreign exchange gain/(loss) | - | 1,220 |
| Finance costs | - | (877) |
| (2) | (950) | |
| Loss and comprehensive loss for the period | $ 3,897 | $ 12,046 |
| Basic and diluted loss per common share | ($0.00) | ($0.00) |
| Weighted average number of common shares outstanding | 19,978,548 | 19,978,548 |
The accompanying notes are an integral part of these financial statements.
4
TALENT INFINITY RESOURCE DEVELOPMENTS INC.
(Formerly Talent Infinity Capital Fund Corporation) (an exploration stage company)
CONDENSED INTERIM STATEMENT OF CASH FLOWS
For the periods ended August 31, 2025 and 2024
(Unaudited - Expressed in Canadian Dollars)
| August 31, 2025 | August 31, 2024 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Loss for the period | $ (3,897) | $ (12,046) |
| Accrued interest income | (0) | (605) |
| Accretion on long term loans | 0 | 247 |
| Accrued interest expense | 0 | 630 |
| Foreign exchange on loans payable | (0) | (1,226) |
| Change in non-cash working capital items: | - | - |
| Accounts payable and accrued liabilities | (194) | 9,016 |
| Accounts receivable | (195) | (129) |
| Net Cash used in operating activities | (4,286) | (4,113) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Proceeds received on loan payable | 1,500 | 2,000 |
| Net cash provided by financing activities | 1,500 | 2,000 |
| Change in cash for the period | $ (2,786) | $ (2,113) |
| Cash, beginning of period | 8,182 | 5,765 |
| Cash, end of period | $ 5,396 | $ 3,652 |
| Cash paid during the period for interest | $- | $- |
| Cash paid during the period for income taxes | $- | $- |
The accompanying notes are an integral part of these financial statements.
5
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company)
CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
For the periods ended August 31, 2025 and 2024
(Unaudited - Expressed in Canadian Dollars)
| Notes: | Share Capital | Shares to be issued | Contributed Surplus | Deficit | Total | ||
|---|---|---|---|---|---|---|---|
| Number | Amount | ||||||
| Balance at May 31, 2024 | 19,978,548 | $ 479,593 | $ - | $ 2,316 | $ (603,641) | $ (121,732) | |
| Loss for the period | - | - | - | - | (12,046) | (12,046) | |
| Balance at August 31, 2024 | 19,978,548 | $ 479,593 | $ - | $ 2,316 | $ (615,687) | $ (133,778) | |
| Balance at May 31, 2025 | 19,978,548 | $ 479,593 | $ - | $ 2,316 | $ (640,410) | $ (158,501) | |
| Loss for the period | - | - | - | - | (3,897) | (3,897) | |
| Balance at August 31, 2025 | 19,978,548 | $ 479,593 | $ - | $ 2,316 | $ (644,307) | $ (162,398) |
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
- NATURE AND CONTINUANCE OF OPERATIONS
Talent Infinity Capital Corporation (the "Company") is incorporated under the Business Corporations Act, (British Columbia). On January 14, 2021, the Company changed its name to Talent Infinity Resource Developments Inc. The Company is engaged in the acquisition, exploration and development of mineral resource properties located in Canada. The Company was incorporated on June 25, 2020.
The Company's head office and records office is located at 5728 East Boulevard, Vancouver, British Columbia, Canada, V6M 4M4.
The recovery of the amounts comprising mineral properties is dependent upon the confirmation of economically recoverable reserves, the ability of the Company to obtain necessary financing to successfully complete their exploration and development, and upon future profitable production.
These condensed interim financial statements have been prepared by management 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. At August 31, 2025 the Company had not yet achieved profitable operations, had accumulated losses of $644,307 since its inception, and expects to incur further losses in the development of its business, all of which casts significant doubt about the Company's ability to continue as a going concern. A number of alternatives including, but not limited to selling an interest in one or more of its properties or completing a financing, are being evaluated with the objective of funding ongoing activities and obtaining working capital. The continuing operations of the Company are dependent upon its ability to continue to raise adequate financing and to commence profitable operations in the future and repay its liabilities arising from normal business operations as they become due.
The 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 in existence.
- SIGNIFICANT ACCOUNTING POLICIES
Statement of Compliance
These condensed interim financial statements, including comparatives, have been prepared in accordance with International Accounting Standards 34 – Interim Financial Reporting using accounting policies consistent with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board and interpretations of the International Financial Reporting Interpretations Committee. The accounting policies and methods of computation applied by the Company in these condensed interim financial statements are the same as those applied in the Company's annual financial statements as at and for the year ended May 31, 2025.
Basis of Presentation
These condensed interim financial statements have been prepared on a historical cost basis except for some financial instruments classified in accordance with measurements standards under IFRS. These condensed interim financial statements are presented in Canadian dollars unless otherwise specified.
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Significant accounting policies
The accounting policies followed by the Company are set out in Note 3 to the audited financial statements for the year ended May 31, 2025 and have been consistently followed in the preparation of these condensed interim financial statements. The Company used the same accounting policies and methods of computation as in the audited annual financial statements for the year ended May 31, 2025.
3. SIGNIFICANT ESTIMATES, ASSUMPTIONS AND JUDGEMENTS
The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the year. Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates. The most significant accounts that require estimates as the basis for determining the stated amounts include Economic recoverability and probability of future economic benefits of mineral properties and recognition of deferred income tax amounts.
Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements are as follows:
Economic recoverability and probability of future economic benefits of mineral properties
Management has determined that mineral property costs incurred which were capitalized have future economic benefits and are economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including geological and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping and feasibility studies, accessible facilities, existing permits and life of mine plans.
Income taxes
In assessing the probability of realizing income tax assets, management makes estimates related to expectations of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.
4. ACCOUNTS PAYABLES AND ACCRUED LIABILITIES
The Company’s accounts payable and accrued liabilities are as follows:
| August 31, 2025 | May 31, 2025 | |
|---|---|---|
| Trade payables | $ 31,651 | $ 31,845 |
| Accrued liabilities | 9,000 | 9,000 |
| Total | $ 40,651 | $ 40,845 |
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
5. MINERAL PROPERTIES
On June 30, 2020 and amended on September 13, 2024 and September 24, 2025, the Optionor granted the Company (the “Optionee”) the sole and exclusive right and option (the "Option") for a period of 7 years plus 5 months from the Effective Date (the "Option Period" the total period ending on November 30, 2027), to acquire, at the election of the Optionee, an undivided 70% interest in certain mineral claims situated in the Quesnel Terrane area of the Province of British Columbia (the “Wildcat Property”). The exploration expense and option payment requirements are summarized as follows:
| Date | Option Payments to the Optionor | Exploration Expenses Requirements |
|---|---|---|
| By July 31, 2021 | $20,000 (paid) | - |
| By November 30, 2021 | $50,000 (paid) | - |
| On or before the earlier of the second anniversary of the Listing Date or by November 30, 2022 | $50,000 (paid) | - |
| On or before the earlier of the fifth anniversary of the Listing Date or by November 30, 2025 | $200,000 | - |
| On or before November 30, 2026 | $350,000 | $250,000 to be allocated and available to be spent as expenditures in developing the property. |
| On or before November 30, 2027 | $1,400,000 | $2,000,000 to be spent as expenditures in developing the property. |
| Total | $2,070,000 | $2,250,000 |
The following is the Company's mineral property acquisition costs as at August 31, 2025:
| Wildcat Property | Total | |
|---|---|---|
| Acquisition Costs | ||
| Balance August 31, 2024 | $ 120,000 | $ 120,000 |
| Additions | - | - |
| Balance, August 31, 2025 | $ 120,000 | $ 120,000 |
The following table shows the activity by category of exploration:
| Exploration Expenses | August 31, 2025 ($) | August 31, 2024 ($) |
|---|---|---|
| Geological surveying, consulting and reporting | - | - |
| Field support and supplies | - | - |
| Total | - | - |
The Company incurred no exploration and evaluation expense during the period ended August 31, 2025 (2024 – nil).
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
6. RELATED PARTY TRANSACTIONS
The Company entered into the following transactions with related parties:
During the period ended August 31, 2025, the company incurred management and consulting fees to related parties of $Nil (2024 - $1,056).
As at August 31, 2025, the company had amounts payable to directors of the Company of $Nil (August 31, 2024 - $5,075) and an amount receivable of $Nil (August 31, 2024 – $2,311) from a director of the Company.
Refer to #8 and #9 (Loan Payable and Receivable) for related party transactions.
All related party transactions are in the normal course of operations and have been measured at the agreed to amount, which is the amount of consideration established and agreed to by the related parties.
7. SHARE CAPITAL AND RESERVES
a) Authorized share capital
As at August 31, 2025, the authorized share capital of the Company is an unlimited number of common shares without par value.
b) Issued share capital:
For the period ended August 31, 2025:
There were no share capital transactions for the period ended August 31, 2025.
For the period ended May 31, 2025:
There were no share capital transactions during the 2025 fiscal year.
c) Warrants
As at August 31, 2025, the Company had Nil outstanding warrants and no warrant transactions during the period then ended.
d) Options
As at August 31, 2025, the Company had Nil outstanding stock options and no stock option transactions during the period then ended.
8. LOANS PAYABLE
During the year ended May 31, 2021, the Company was advanced $253,283 (US$210,157) in cash by way of a non-interest bearing, non-recourse loan with no fixed date of repayment (the “Loan Payable”). During the year ended May 31, 2022, the Company repaid $100,427 of the outstanding loan balance and had foreign exchange adjustments of $12,010. On August 23, 2021, the Company settled $75,000 of the outstanding loan balance via issuance of 750,000 common shares of the Company. On December 8, 2021, the company negotiated with a creditor to convert $82,259 (US $65,000) of the Loan Payable into an interest-bearing loan as described the below. During the year ended May 31, 2025, the Company recognized a foreign exchange loss of $74 (2024 - $20). As at May 31, 2025, and August 31, 2025 the Loan Payable had an outstanding balance of $8,276 (2024 - $8,115) with a non-interest bearing, unsecured and due on demand, which was classified as current liabilities on a statement of financial position.
10
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
8. LOANS PAYABLE (CONTINUED)
On December 8, 2021, the company negotiated with a creditor to convert $82,259 (US $65,000) of the Loan Payable into an interest-bearing loan (the “Interest-Bearing Loan”). The Interest-Bearing Loan bear simple interest of 10% and had a 24-month term with a maturity date of December 8, 2023. No interest payments were due until the term of the loan. The Interest-Bearing Loan was accounted for at amortized cost using the effective interest rate method with the effective interest rate of 15% per annum. The Interest-Bearing Loan was recorded at amortized cost of $74,636, with a gain of $7,624 on a long-term loan that was recorded in the statement of loss for the year ended May 31, 2022. For the year ended May 31, 2022, the Company recognized accretion and interest of $5,368 on the Interest-Bearing Loan and foreign exchange adjustment of $52. As at May 31, 2022, the carrying value of the Interest-Bearing loan was $79,952, which was classified as non-current liabilities on a statement of financial position. During the year ended May 31, 2023, the Company recognized accretion and interest expense of $12,037 and a foreign exchange loss of $6,194. The carrying value of the Interest-Bearing Loan as at May 31, 2023 was $98,453, which was classified as current liabilities on a statement of financial position. Upon the maturity date of the Interest-Bearing Loan on December 8, 2023, the Interest-Bearing Loan became a loan with a non-interest-bearing, unsecured and due on demand (the “Loan Payable #4”). During the year ended May 31, 2024, the Company recognized $7,916 of accretion, interest and foreign exchange adjustment. As at May 31, 2024, the Loan Payable #4 had an outstanding balance of $106,369 with a non-interest bearing, unsecured and due on demand, which was classified as current liabilities on a statement of financial position. During the year ended May 31, 2025, the Company recognized an annual foreign exchange loss of $943. As at May 31, 2025, and at August 31, 2025, the Loan Payable #4 had an outstanding balance of $107,312 ($106,369 - August 2024) with a non-interest bearing, unsecured and due on demand, which was classified as current liabilities on a statement of financial position.
During the year ended May 31, 2022, the Company was advanced $25,611 in cash by way of a non-interest bearing, non-recourse loan with no fixed date of repayment. (the “Loan Payable #2”). As at May 31, 2022, the Loan Payable #2 had an outstanding balance of $25,611, which was classified as current liabilities on a statement of financial position. During the period ended May 31, 2023, the Company received an additional advance under the existing terms of the Loan Payable #2 of $13,057 and repaid $33,311 of the balance owing. Accordingly, the outstanding amount payable as at May 31, 2023 under the Loan Payable #2 was $5,357, which was classified as current liabilities on the statement of financial position. The balance of $5,357 under the Loan Payable #2 remained unchanged as at August 31, 2024 and August 31, 2025.
On November 30, 2021, the Company was advanced $99,985 in cash by way of an interest-bearing loan. The loan bear simple interest of 10% and had a 24-month term with a maturity date of November 29, 2023. (the “Loan Payable #3”). No interest payments were due until the term of the loan. The loan was accounted for at amortized cost using the effective interest rate method with the effective interest rate of 15% per annum. The loan was recorded at amortized cost of $90,719, with a gain of $9,266 on a long-term loan that was recorded in the statement of loss for the year ended May 31, 2022. During the year ended May 31, 2022, the Company recorded accretion and interest of $6,819 on the loan payable. As at May 31, 2022, the carrying value of the Loan Payable #3 was $97,538, which was classified as non-current liabilities on a statement of financial position. During the period ended May 31, 2023, the Company recognized accretion and interest expense of $14,107. The carrying value of the Loan Payable #3 as at May 31, 2023 was $111,645, which was classified as current liabilities on the statement of financial position. Upon the maturity date of the Loan Payable #3 on November 29, 2023, the Loan Payable #3 became a loan with a non-interest-bearing, unsecured and due on demand (the “Loan Payable #3A”). During the year ended May 31, 2024, the Company recognized $7,312 of accretion and interest expense. As at May 31, 2024, and August 31, 2024 the Loan Payable #3A had an outstanding balance of $119,982 with a non-interest bearing, unsecured and due on demand, which was classified as current liabilities on a statement of financial position. For the year ended May 28, 2025, $27,881 of the outstanding balance of the Non-Interest-Bearing Loan Payable #3A was repaid. As at May 31, 2025, and August 31, 2025, the Loan Payable #3A had an outstanding balance of $92,101 ($119,982 - August 2024) with a non-interest bearing, unsecured and due on demand, which was classified as current liabilities on a statement of financial position.
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
8. LOANS PAYABLE (CONTINUED)
On November 14, 2023, the Company was advanced $25,000 in cash by way of an interest-bearing loan from a director of the Company. The loan bears simple interest of 10% and has a 24-month term with a maturity date of November 14, 2025 (the “Loan Payable #5”). No interest payments are due until the term of the loan. The Loan Payable #5 was accounted for at amortized cost using the effective interest rate method with the effective interest rate of 15% per annum. The Loan Payable #5 was recorded at amortized cost of $22,684, with an increase in contributed surplus of $2,316 as a capital contribution by a related party. During the year ended May 31, 2024, the Company recognized $1,866 of accretion and interest expense. The carrying value of the Loan Payable #5 as at May 31, 2024 was $24,550, which was classified as non-current liabilities on a statement of financial position as it does not mature within the next 12-month period. During the year ended May 31, 2025, the Company repaid the Loans Payable #5 in full resulting in a $nil outstanding balance as at May 31, 2025. During the year ended May 31, 2025, the Company recognized $1,753 of accretion and interest expense. Therefore, the Loan Payable #5 as at $Nil at August 31, 2025 whereas it was $25,428 on August 31, 2024.
On January 24, 2025, the Company obtained a loan (the “Loan Payable #6”) of $50,000 for a three-year term at 8% per annum interest rate with the first six months being interest free and with all interest and principal due at the end of the term. The Loan Payable #6 was accounted for at amortized cost using the effective interest rate method with the effective interest rate of 15% per annum. The Loan Payable #6 was recorded at amortized cost of $39,461, with a gain of $10,539 on the Loan Payable #6 that was recorded in the statement of loss for the year ended May 31, 2025. During the year ended May 31, 2025, the Company recognized $2,081 of accretion expense. The carrying value of the Loan Payable #6 as at May 31, 2025 and on August 31, 2025 was $41,542, which was classified as non-current liabilities on a statement of financial position as it does not mature within the next 12-month period. Whereas this Loan Payable #6 did not exist in August 31, 2024.
A Short Term Loan #7 (non-interest bearing with no terms of repayment) of $1,500 was advanced by the CEO, on July 2, 2025 to cover working capital expenses. Therefore there was a $1,500 short-term Loan #7 owed to the CEO on August 31, 2025 (August 2024- $Nil)
9. LOANS RECEIVABLE
On July 19, 2021, the Company entered into a term loan agreement (the “Loan Receivable”) with a director of the Company whereby the Company loaned $20,000 to a director of the Company. The Loan Receivable carried an interest rate of 10% per annum and had a fixed term of 24 months. The Loan Receivable was accounted for at amortized cost using the effective interest rate method with the effective interest rate of 15% per annum. The loan was recorded at amortised cost of $18,146, with reduction of share capital of $1,854 as capital contribution by a related party. Upon the maturity date of the Loan Receivable on July 19, 2023, Loan Receivable became a loan with an interest rate of 10% per annum, unsecured and due on demand (the “Loan Receivable #2”). During the year ended May 31, 2024, the Company recorded accretion and interest income of $2,684 (2023 - $2,868). As at May 31, 2024, the Loan Receivable #2 had an outstanding balance of $26,086 (2023 - $23,402), which was classified as current assets on a statement of financial position. For the period ended August 31, 2024, the Company recognized accretion and interest income of $605, and the outstanding balance of the Loan Receivable for the period then ended was $26,691. The Loan Receivable remained classified as a current asset on the statement of financial position for the period ended August 31, 2024. The Loan Receivable #2 was collected in full resulting in a $Nil outstanding balance as at May 31, 2025 and August 31, 2025
10. SEGMENTED INFORMATION
The Company operates in one reportable operating segment, being the acquisition and exploration of mineral properties in Canada. As the operations comprise a single reporting segment, amounts disclosed also represent segment amounts.
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
11. FINANCIAL AND CAPITAL RISK MANAGEMENT
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 enters into financial instruments to finance its operations in the normal course of business. The fair values of cash and accounts payable approximate their carrying values due to the short-term maturity of these instruments.
The fair value of the Company’s financial instruments has been classified within the fair value hierarchy as at August 31, 2025 as follows:
| Level 1 | Level 2 | Level 3 | Total | |
|---|---|---|---|---|
| Financial Assets | ||||
| Cash | $ 5,396 | - | - | $ 5,396 |
| $ 5,396 | - | - | $ 5,396 |
The Company is exposed to varying degrees to a variety of financial instrument related risks:
Foreign exchange risk
Foreign exchange risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company has certain monetary assets denominated in United States Dollars. As at August 31, 2025, the Company had United States Dollar cash on hand with a Canadian dollar equivalent of $781.
Assuming that all other variables remain constant, a fluctuation of +/- 1.0 percent in the exchange rate between the Canadian Dollar and the United States Dollar would impact loss before taxes by $8 as at August 31, 2025.
Credit risk
The Company’s cash is largely held in large Canadian financial institutions. The Company does not have any asset-backed commercial paper. The Company maintains cash deposits with Schedule A financial institution, which from time to time may exceed federally insured limits. The Company has not experienced any significant credit losses and believes it is not exposed to any significant credit risk.
Interest rate risk
Interest rate risk is the risk the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Financial assets and liabilities with variable interest rates expose the Company to ash flow interest rate risk. The Company does not hold any financial liabilities with variable interest rates. The Company does maintain bank accounts which earn interest at variable rates but it does not believe it is currently subject to any significant interest rate risk.
Liquidity risk
The Company’s ability to continue as a going concern is dependent on management’s ability to raise required funding through future equity issuances and through short-term borrowing. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board of Directors are actively involved in the review, planning and approval of significant expenditures and commitments.
Price risk
The ability of the Company to explore its mineral properties and the future profitability of the Company are directly related to the market price of precious metals. The Company monitors precious metals prices to determine the appropriate course of action to be taken by the Company.
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation)
(an exploration stage company)
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS
(Unaudited - Expressed in Canadian Dollars)
FOR THE PERIODS ENDED AUGUST 31, 2025 and 2024
11. FINANCIAL AND CAPITAL RISK MANAGEMENT (CONTINUED)
Capital management
The Company defines its capital as shareholders’ equity. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to support the acquisition and exploration and development of mineral properties. The Board of Directors do not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. The properties in which the Company currently has an interest are in the exploration stage. As such, the Company has historically relied on the equity markets to fund its activities. In addition, the Company is dependent upon external financings to fund activities. In order to carry out planned exploration and pay for administrative costs, the Company will need to raise additional funds. The Company will continue to assess new properties and seek to acquire an interest in additional properties if it feels there is sufficient geologic or economic potential and if it has adequate financial resources to do so. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable.
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