Totec Resources Ltd. — Audit Report / Information 2025

Jan 14, 2026

DAVIDSON & COMPANY LLP
Chartered Professional Accountants

January 12, 2026

TSX Venture Exchange

Dear Sirs / Mesdames:

Re: Totec Resources Ltd.

We refer to the Filing Statement of Totec Resources Ltd. (the "Company") dated January 12, 2026 relating to Qualifying Transaction with Usha Resources Ltd.

We consent to being named and to the use, in the above-mentioned Filing Statement, of our report dated May 22, 2025 to the shareholders of the Company on the following financial statements:

Statements of financial position as at March 31, 2025 and 2024;

Statements of loss and comprehensive loss, changes in shareholders' equity, and cash flows for the years ended March 31, 2025 and 2024, and notes to the financial statements, including material accounting policy information.

We report that we have read the Filing Statement 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 financial statements upon which we have reported or that are within our knowledge as a result of our audit of such 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 filing statement as these terms are described in the CPA Canada Handbook – Assurance.

This letter is provided solely for the purpose of assisting the stock exchanges to which it is addressed in discharging its responsibilities and should not be used for any other purpose.

Yours very truly,

DAVIDSON & COMPANY LLP
Chartered Professional Accountants

A member of Nexia International
1200 - 609 Granville Street, P.O. Box 10372, Pacific Centre, Vancouver, B.C., Canada V7Y 1G6
Telephone (604) 687-0947 Davidson-co.com