West Mining Corp. — Interim / Quarterly Report 2024

Jul 2, 2024

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WEST MINING CORP.

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED APRIL 30, 2024 AND 2023 (Unaudited – Expressed in Canadian Dollars)

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NOTICE TO READER

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the condensed consolidated interim financial statements, they must be accompanied by a notice indicating that the condensed consolidated interim financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed consolidated interim financial statements of the Company 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 consolidated interim financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity’s auditor.

WEST MINING CORP.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

(Unaudited – Expressed in Canadian Dollars)

Note April 30, 2024	October 31, 2023
$ ASSETS Current assets Cash 15,520 Marketable securities 6,000 Receivables 29,999 Prepaid expenses 5,125	$ 3,157 18,000 21,312 19,813
56,644 Term deposit 57,500 Explorationand evaluationassets 3 8,486,686	62,282 57,500 8,483,686
Total assets 8,600,830	8,603,468
LIABILITIES Current liabilities Accounts payable and accrued liabilities 6 260,587 Loans payable 4 62,054	220,249 51,285
322,641	271,534
EQUITY Share capital 5 15,867,200 Subscriptions received 96,100 Reserves 5 3,842,171 Deficit (11,527,282)	15,714,011 24,600 3,707,872 (11,114,549)
8,278,189	8,331,934
Total liabilities and equity 8,600,830	8,603,468

Nature of operations and going concern (Note 1) Subsequent events (Note 7)

Approved and authorized on behalf of the Board of Directors on June 27, 2024

“ Nader Vatanchi ” Director “ Ashish Misquith ” Director

The accompanying notes are an integral part of these condensed consolidated interim financial statements

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WEST MINING CORP.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS FOR THE THREE AND SIX MONTHS ENDED APRIL 30, 2024 AND 2023 (Unaudited – Expressed in Canadian dollars)

Notes Three months ended April 30, Six months ended April 30,	Notes Three months ended April 30, Six months ended April 30,
2024 2023 2024	2023
$ $ ADMINISTRATIVE EXPENSES Advertising and promotion 30,000 15,619 33,474 Consulting fees 6 39,041 262,623 106,840 Insurance 3,375 4,573 6,750 Interest and bank charges 2,401 371 3,373 Office expenses 46,627 13,620 61,662 Professional fees 6 (12,845) 109,218 22,507 Rent - 3,125 - Salary and benefits - 5,348 6,375 Share-based compensation 5 - - 134,299 Transferagent andfilingfees 12,057 35,876 28,740	251,610 359,030 11,448 757 29,834 146,549 12,500 13,078 - 45,692
(120,656) (450,373) (404,020)	(870,498)
OTHER INCOME (EXPENSE) Foreign exchange gain (632) (2,663) 43 Interest income 895 - 3,244 Unrealized loss on marketable securities (7,250) (17,000) (12,000) Impairment of exploration and evaluation assets 3 - (32,000) -	(2,663) 1,011 (10,000) (140,549)
(6,987) (51,663) (8,713)	(152,201)
NET LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD (127,643) (502,036) (412,733)	(1,022,699)
NET LOSS PER SHARE – BASIC AND DILUTED (0.01) (0.08) (0.05)	(0.17)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING 9,178,452 6,131,849 8,436,889	6,113,745

The accompanying notes are an integral part of these condensed consolidated interim financial statements

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WEST MINING CORP.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED OCTOBER 31, 2023 AND SIX MONTHS ENDED APRIL 30, 2024 (Unaudited – Expressed in Canadian dollars)

	Number of	Share	Subscriptions
	Shares	Capital	Received	Reserves	Deficit	Total
	#	$	$	$	$	$
Balance, October 31, 2022	6,096,230	15,682,011	24,600	3,727,872	(9,984,627)	9,449,856
Shares issued due to RSU exercise	20,000	20,000	-	(20,000)	-	-
Shares issued for termination agreement of exploration and evaluation asset	30,000	12,000	-	-	-	12,000
Net and comprehensive loss for the period	-	-	-	-	(1,022,699)	(1,022,699)
Balance, April 30, 2023	6,146,230	15,714,011	24,600	3,707,872	(11,007,326)	8,439,157
Net and comprehensivelossforthe period	-	-	-	-	(107,223)	(107,223)
Balance, October 31, 2023	6,146,230	15,714,011	24,600	3,707,872	(11,114,549)	8,331,934
Shares issued for private placement	3,000,000	150,000	-	-	-	150,000
Shares issued due to warrant exercise	100,000	6,500	-	-	-	6,500
Share issue costs – cash	-	(3,311)	-	-	-	(3,311)
Subscriptions received	-	-	71,500	-	-	71,500
Share-based compensation	-	-	-	134,299	-	134,299
Net and comprehensive loss for the period	-	-	-	-	(412,733)	(412,733)
Balance, April 30, 2024	9,246,230	15,867,200	96,100	3,842,171	(11,527,282)	8,278,189

The accompanying notes are an integral part of these condensed consolidated interim financial statements

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WEST MINING CORP.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED APRIL 30, 2024 AND 2023 (Unaudited – Expressed in Canadian Dollars)

2024	2023
$ Operating activities: Net loss for the period (412,733) Items not affecting cash: Unrealized loss on marketable securities 12,000 Impairment of exploration and evaluation assets - Share-based compensation 134,299 Changes in non-cash working capital related to operations: Receivables (8,687) Prepaid expenses 14,688 Accounts payable and accrued liabilities 40,338	$ (1,022,699) 10,000 140,549 - 67,149 123,616 121,912
Net cashusedinoperating activities (220,095)	(559,473)
Investing activity: Exploration and evaluation asset expenditures (3,000)	(110,813)
Net cash used in investing activity (3,000)	(110,813)
Financing activities: Issuance of shares – private placement 153,189 Subscriptions received 71,500 Loan repayment (14,087) Loans received 24,856	- - - -
Net cash provided by financing activities 235,458	-
Decrease in cash during the period 12,363 Cash–beginning of the period 3,157	(670,286) 681,751
Cash – end of theperiod 15,520	11,465
Non-cash investing and financing transactions: Shares issued due to RSU exercise - Shared issued for exploration and evaluation assets -	20,000 12,000

The accompanying notes are an integral part of these condensed consolidated interim financial statements

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WEST MINING CORP. Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

1. NATURE OF OPERATIONS AND GOING CONCERN

West Mining Corp. (the “Company” or “West”) was incorporated under the Company Act of British Columbia on August 28, 2017. The Company’s registered and records office is located at Suite 4204-1011 West Cordova Street Vancouver, British Columbia, Canada V6C 0B2. The Company’s common shares trade on the Canadian Securities Exchange under the trading symbol “WEST”.

The Company’s primary business is the identification, acquisition, and exploration of mineral properties.

Effective November 15, 2023, the Company completed the consolidation of its common shares on the basis of one postconsolidation common share for 10 pre-consolidation common shares. These condensed consolidated interim financial statements reflect the share consolidation for all shares, warrants, options and per share amounts retrospectively.

These condensed consolidated interim financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next twelve months. As at April 30,2024, the Company has a working capital deficit of $265,997 and an accumulated deficit of $11,527,282. The Company expects to incur further losses in the development of its business. The Company’s ability to continue as a going concern is dependent upon its ability to raise adequate funding through equity or debt financings to discharge its liabilities as they come due. Although the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms advantageous to the Company.

These factors indicate the existence of a material uncertainty that may cast significant doubt about the Company’s ability to continue as a going concern. As a result, the Company may be unable to realize its assets and discharge its liabilities in the normal course of business. Should the Company be unable to continue as a going concern, asset realization values may be substantially different from their carrying values. Carrying values as shown in these condensed consolidated interim financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. Such adjustments could be material.

2. BASIS OF PRESENTATION

a) Statement of compliance

These condensed consolidated interim financial statements have been prepared in conformity with International Accounting Standard (“IAS”) 34, Interim Financial Reporting, using the same accounting policies as detailed in the Company’s audited consolidated financial statements for the year ended October 31, 2023. They do not include all the information required for complete annual financial statements in accordance with IFRS Accounting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and therefore should be read together with the audited consolidated financial statements for year ended October 31, 2023.

These condensed consolidated interim financial statements were approved and authorized for issue by the Board of Directors on June 27, 2024.

b) Basis of measurement

These condensed consolidated interim financial statements have been prepared on a historical cost basis, except for certain financial instruments which are measured at fair value.

c) Consolidation

These condensed consolidated financial statements include the financial statements of the Company and whollyowned subsidiaries subject to control by the Company, including 2125839 Alberta Inc., Pilgrim Exploration Corp., Folkestone Mining Corp. and 1994854 Alberta Ltd.

Control is achieved when the Company has the power to, directly or indirectly, govern the financial and operating policies of an entity so as to obtain benefits from its activities. Subsidiaries are fully consolidated from the date on which control is obtained and continue to be consolidated until the date that such control ceases. Intercompany balances, transactions and unrealized intercompany gains and losses are eliminated upon consolidation.

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WEST MINING CORP. Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

d) Functional and presentation currency

These condensed consolidated interim financial statements are presented in Canadian dollars, which is the functional currency of the Company and its subsidiaries. All financial information is expressed in Canadian dollars unless otherwise stated and have been rounded to the nearest dollar.

3. EXPLORATION AND EVALUATION ASSETS

a) Kena Project

During the year ended October 31, 2021, the Company acquired a 100% interest in the Kena Project upon execution of the Option Agreement, the Amended Agreement and the Apex Agreement (as defined below). The Company also purchased additional claims to complement the Kena Project on March 22, 2021, as described below. The Kena Project consists of mineral claims and crown grants located in the Nelson Mining District in British Columbia, and is subject to various NSRs ranging from 1% to 3% which may be purchased for cash consideration.

Option Agreement

On December 24, 2020, the Company entered into an option agreement (the “Option Agreement”) with Boundary Gold and Copper Mining Ltd. (“Boundary”), and Boundary’s wholly-owned subsidiary, 1994854 Alberta Ltd. (“1994854”), to acquire 174 mineral claims and 11 crown grants comprising the Kena and Daylight gold-copper properties (the “Kena Project”). Under the Option Agreement, the Company earned an 80% interest in and to the properties by making aggregate cash payments of $325,000, issuing an aggregate of 180,556 common shares with a fair value of $325,000, and incurring an aggregate of $1,735,925 in exploration expenditures.

Amended Agreement to purchase 1994854

Pursuant to an amending agreement dated April 7, 2021 with Boundary (“Amended Agreement”), the Company acquired all of the issued and outstanding shares of 1994854 from Boundary, by making a cash payment of $800,000 and issuing 555,555 common shares to Boundary with a fair value of $1,888,889. 1994854 holds the underlying 80% interest in the Kena Project.

Apex Agreement to purchase remaining 20% interest

Pursuant to an asset purchase agreement dated April 7, 2021 with Apex Resources Inc. (“Apex”) (“Apex Agreement”), the Company acquired Apex’s interest in the Kena Project in exchange for cash payments totaling $300,000 and issuance of 150,000 common shares of the Company valued at $480,000.

Apex retained a 1% NSR royalty on the Kena Project, which the Company has a right to purchase for a cash payment of $500,000 at any time prior to the commencement of commercial production.

Athabasca Mine

On March 22, 2021, the Company entered into a claims purchase agreement with 802213 Alberta Ltd., under which the Company acquired 17 mineral claims, contiguous to the Kena Project. In exchange for the claims, the Company paid $27,087 and issued 8,500 common shares of the Company. On August 4, 2021, the Company entered into a claims purchase agreement with 802213 Alberta Ltd., under which the Company acquired 5 additional mineral claims, contiguous to the Kena Project. In exchange for the claims, the Company paid $25,210.

b) Folkestone Property

On January 25, 2021, the Company entered into a share purchase agreement with shareholders of Folkestone Mining Corp. (“Folkestone”), under which the Company acquired all of Folkestone’s issued and outstanding shares. Folkestone is the registered holder of 4 mineral exploration claims located in the Spanish Mountain District in British Columbia and 3 claims in the Junkers District in British Columbia. In exchange for the purchase of Folkestone’s shares, the Company issued 310,000 units of the Company, valued at $1,240,000. Each unit is comprised of one common share and one share purchase warrant. Each warrant was exercisable into one common share at an exercise price of $4.20 for a period of two years from the date of issuance.

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WEST MINING CORP. Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

c) Blue Cove Copper Property

On February 4, 2022, the Company entered into an option agreement to acquire a 100% undivided right, title and interest in and to the Blue Cove Copper Property covering 232 mineral claims (5,800 hectares) located near Terrenceville, Newfoundland. Under the terms of the option agreement, the Company could earn its 100% interest by issuing 170,000 common shares, making cash payments of $160,000 and incurring $750,000 in exploration expenditures in aggregate. The investment in the Blue Cove Copper Property was subject to a 3% NSR. The Company could purchase one-third (1%) of the NSR for $1,000,000 at any time.

During the year ended October 31, 2022, the Company paid $10,000 and issued 25,000 common shares, valued at $27,500. During the year ended October 31, 2023, the Company determined it would not pursue further exploration of the Blue Cove Copper Property and on February 15, 2023, the Company entered into a termination agreement with the optionor. Pursuant to the termination agreement, the Company paid $20,000 in cash and issued 30,000 common shares with a fair value of $12,000 in order to terminate. Accordingly, the Blue Cove Copper Property was considered impaired and $140,549 in acquisition and exploration costs were written off.

d) Summary

The Company’s exploration and evaluation assets activity for the year ended October 31, 2023 and six months ended April 30, 2024 is as follows:

Folkestone Property Blue Cove Property Kena Project	**Total **
$ $ $ Acquisition costs	$
Balance, October 31, 2022 1,364,000 37,500 4,562,847 Addition Cash - 20,000 - Common shares and units - 12,000 - Impairment - (69,500) -	5,964,347 20,000 12,000 (69,500)
Balance, October 31, 2023 and April 30, 2024 1,364,000 - 4,562,847 Exploration costs Balance, October 31, 2022 191,035 71,049 2,256,797 Addition - - 109,007 Impairment - (71,049) -	5,926,847 2,518,881 109,007 (71,049)
Balance, October 31, 2023 191,035 - 2,365,804 Addition - - 3,000	2,556,839 3,000
Balance,April 30,2024 191,035 - 2,368,804	2,559,839
Balance, October 31, 2023 1,555,035 - 6,928,651 Balance, April 30, 2024 1,555,035 - 6,931,651	8,494,139 8,486,686

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WEST MINING CORP.

Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

Exploration and evaluation costs were comprised of:

Exploration and evaluation costs were comprised of:
	Kena Project
	$
For the year ended October 31, 2023
Assays	65,084
Exploration	905
Field supplies	201
Geological consulting	9,876
Licenses and permits	3,984
Other	200
Transportation and freight	28,757
Total	109,007
For the six months ended April 30, 2024
Licenses andpermits	3,000
Total	3,000

4. LOANS PAYABLE

During the year ended October 31, 2023, the Company received loans totaling $45,000 from a shareholder of the Company and $6,285 from the CEO of the Company. The loans are unsecured, bear no interest and are payable on demand.

During the six months ended April 30, 2024, the Company received additional loans of $12,356 and made repayments of $14,087 to the CEO of the Company. The Company had also received loans of $12,500 from a shareholder. The loans are unsecured, bear no interest and are payable on demand.

As at April 30, 2024, the balance of the loans payable was $62,054 (October 31, 2023 – $51,285).

5.

SHARE CAPITAL

• a) Authorized – Unlimited common shares without par value.

b) Consolidation

Effective November 15, 2023, the Company completed the consolidation of its common shares on the basis of one post-consolidation common share for 10 pre-consolidation common shares. These consolidated financial statements reflect the share consolidation for all shares, warrants, options and per share amounts retrospectively.

• c) Issued and outstanding – 9,246,230 common shares as at April 30, 2024.

During the six months ended April 30, 2024, the Company had the following share capital transactions:

• i. On December 15, 2023, the Company closed a non-brokered private placement, raising gross proceeds of $150,000 through issuance of 3,000,000 units at a price of $0.05 per unit. Each unit consists of one common share and one common share purchase warrant (“Warrant”). The Warrant is priced at $0.065 per warrant, which has an expiry date of two years after the date of issuance. The Company allocated the total proceeds of $150,000 to shares and $nil to warrants, using the residual value method. Share issue costs of $3,311 were incurred with respect to the private placement.

• ii. On April 2, 2024, the Company issued 100,000 shares for gross proceeds of $6,500 due to exercise of warrants.

During the year ended October 31, 2023, the Company had the following share capital transactions:

• i. The Company issued 20,000 shares pursuant to the exercise of restricted stock units.

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WEST MINING CORP. Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

ii. The Company issued 30,000 shares at a fair value of $12,000 pursuant to the termination agreement for the Blue Cove Copper Property.

d) Stock options

During the year ended October 31, 2021, the Company adopted an incentive stock option plan (the “Option Plan”) which provides that the board of directors of the Company may from time to time, in its discretion, and in accordance with the exchange requirements, grant to directors, officers, employees and technical consultants to the Company, non-transferable options to purchase common shares, provided that the number of common shares reserved for issuance will not exceed 10% of the issued and outstanding common shares. In connection with the foregoing, the number of common shares reserved for issuance to any individual director or officer will not exceed 5% of the issued and outstanding common shares and the number of common shares reserved for issuance to all technical consultants will not exceed 2% of the issued and outstanding common shares. Subject to earlier termination, all options granted under the Option Plan will expire not later than the date that is ten years from the date of the grant.

The balance of share purchase options outstanding and exercisable as at October 31, 2023 and April 30, 2024 and the changes for the periods then ended are as follows:

		Weighted	Weighted
	Number of	Average	Average Life
	Options	Exercise Price	Remaining
	#	$	(years)
Balance, October 31, 2022	348,000	6.30	8.23
Forfeited options	(282,000)	6.20	-
Balance, October 31, 2023	66,000	6.66	7.19
Granted options	550,000	0.26	4.72
Balance, April 30, 2024	616,000	0.95	4.93

On January 15, 2024, the Company granted 550,000 stock options to consultants of the Company. Each option is exercisable for one common share a price of $0.26 for five years. These options vest immediately. The Company determined the fair value of the options granted using the Black-Scholes model with the following assumptions – share price on date of grant of $0.26; risk-free interest rate of 3.27%; dividend yield of 0%; expected life of 5 years; forfeiture rate of 0% and expected volatility of 100%.

During the six months ended April 30, 2024, the Company recorded $108,299 (2023 - $nil) in share-based compensation related to stock options.

As at April 30, 2024 the following share purchase options were outstanding and exercisable:

Expiry Date	Exercise price	Remaining life	Options outstanding
	$	(years)	#
November 4, 2030	2.40	6.52	24,000
December 28, 2030	3.00	6.67	10,000
February 26, 2031	11.00	6.83	32,000
January 15, 2029	0.26	4.72	550,000
			616,000

e) Warrants

The balance of warrants outstanding as at October 31, 2023 and April 30, 2024 and the changes for the period ended are as follows:

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WEST MINING CORP.

Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

		Weighted	Weighted
	Number of	Average	Average Life
	Warrants	Exercise Price	Remaining
	#	$	(years)
Balance, October 31, 2022	2,616,317	4.70	0.23
Expired	(2,616,317)	4.70	-
Balance, October 31, 2023	-	-	-
Issued	3,000,000	0.065	1.63
Exercised	(100,000)	0.065	-
Balance, April 30, 2024	2,900,000	0.065	1.63

As at April 30, 2024 the following share purchase warrants were outstanding:

Expiry Date	Exercise price	Remaining life	Remaining life	Warrants outstanding	Warrants outstanding
	$		(years)		#
December 15, 2025	0.065		1.63		2,900,000
					2,900,000
The balance of agent warrants outstanding as at October 31, 2023 and April			30, 2024 and the changes in the periods
ended is as follows
			Weighted		Weighted
		Number of	Average		Average Life
		Warrants	Exercise	Price	Remaining
		#		$	(years)
Balance, October 31, 2022		174,335		4.00	0.24
Expired		(174,335)		4.00	-
Balance, October 31, 2023 and April 30, 2024		-		-	-

The balance of agent warrants outstanding as at October 31, 2023 and April 30, 2024 and the changes in the periods ended is as follows

f) Restricted stock units

On January 15, 2024, the Company granted 100,000 restricted share units to certain directors and officers of the Company. These restricted stock units vested immediately. The Company determined the fair value of the restricted stock units to be $26,000, using the quoted market price on the grant date. This has been recorded as share-based compensation expense in the statement of loss and comprehensive loss.

The balance of restricted stock units outstanding as at October 31, 2023 and April 30, 2024 and the changes in the periods ended are as follows:

	Number of	Exercise Price
	RSUs	$
Balance, October 31, 2022	600,000	1.00
Exercised	(20,000)	1.00
Forfeited	(240,000)	1.00
Balance, October 31, 2023	340,000	1.00
Granted	100,000	0.26
Forfeited	(150,000)	-
Balance, April 30, 2024	290,000	0.74

6. RELATED PARTY TRANSACTIONS AND BALANCES

Key management of the Company includes the Chief Executive Officer (“CEO”), Chief Financial Officer (“CFO”) and directors of the Company. The Company incurred the following charges with directors and officers of the Company and/or companies controlled by them during the six months ended April 30, 2024 and 2023:

13

WEST MINING CORP.

Notes to the Condensed Consolidated Interim Financial Statements For the three and six months ended April 30, 2024 and 2023 (Unaudited – Expressed in Canadian Dollars)

	2024	2023
	$	$
Consulting fees	64,137	75,612
Professional fees	-	47,500
Share-based compensation	26,000	-
	90,137	123,112

During the six months ended April 30, 2024, the Company paid consulting fees of $30,000 (2023 – $nil) to a company controlled by the CEO of the Company, consulting fees of $nil (2023 – $45,000) to a company controlled by the former CEO of the Company, consulting fees of $nil (2023 – $22,500) to a company controlled by another former CEO of the Company, and consulting fees of $34,137 (2023 – $8,112) to a company wherein the CFO of the Company is a shareholder. The Company also paid professional fees of $nil (2023 – $47,500) to a company controlled by the former CFO of the Company.

As at April 30, 2024, the Company owes $86,151 (October 31, 2023 - $33,204) to related parties. Related party transactions are measured at the exchange amount of consideration agreed between the related parties. Related party balances are non-interest bearing, unsecured, and due on demand.

7. SUBSEQUENT EVENTS

• On May 28, 2024, the Company closed a non-brokered private placement raising gross proceeds of $825,000 through the issuance of 4,125,000 units at a price of $0.20 per unit. Each unit consists of one common share and one share purchase warrant, with each warrant exercisable for one common share at a price of $0.40 until May 30, 2026. In connection with the financing, the Company paid finder’s fees of $55,889 and issued an aggregate of 215,500 finder’s warrants, each exercisable for one common share at a price of $0.20 until May 30, 2026.

• On May 28, 2024, the Company issued an aggregate of 400,000 common shares of the Company at a price of $0.39 per share as consideration for advisory services.

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