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ASSET ACQUISITIONS

6 Months Ended

Jun. 30, 2026

NOTE 18 ASSET ACQUISITIONS

Canadian Gold Corp Acquisition

On January 5, 2026, the Company completed the acquisition of Canadian Gold, an exploration mine which has a 100% interest in the Tartan Lake Gold Mine Project located in the province of Manitoba, Canada. The Company acquired 100% of Canadian Gold’s outstanding equity interests.

The Company accounted for the acquisition of Canadian Gold as an asset acquisition, in accordance with ASC 805 – Business Combinations.

Consideration transferred to acquire Canadian Gold was measured at fair value. Pursuant to the Arrangement Agreement, the Company issued 2,943,766 common shares with a fair value of $57.7 million as part of the consideration. Additionally, the consideration transferred included 1,529,508 subscription receipts with a fair value of $30.0 million that were contingently issuable subject to shareholder approval. The Company’s previously held equity interest was measured at a fair value of $5.1 million and included in consideration.

Upon receipt of shareholder approval on June 4, 2026, the consideration payable was remeasured at fair value of $32.3 million, resulting in a $2.3 million loss recognized in the Statements of Operations.

The following tables summarize the purchase price and the estimated fair value of assets acquired and liabilities assumed on January 5, 2026:


	Fair value
	January 5, 2026
Purchase price:
Common shares	$	57,698
Subscription receipts (Note 14)		29,978
Previously held equity interest		5,128
	$	92,804


	Fair Value
	January 5, 2026
Purchase price:
Cash and cash equivalents	$	499
Accounts receivable		106
Prepaid and other current assets		20
Property, plant and equipment		39
Mineral property interests		115,136
Accounts payable and accrued liabilities		(539)
Deferred income tax liability		(22,457)
	$	92,804

Golden Lake Exploration Inc. Acquisition

On April 30, 2026, the Company completed the acquisition of Golden Lake, a mineral exploration company which has an option to purchase a 100% interest in the Jewel Ridge and Jewel Ridge West projects, located adjacent to the Company’s Windfall and Lookout Mountain properties. The Company acquired 100% of Golden Lake’s outstanding equity interests.

The Company accounted for the acquisition of Golden Lake as an asset acquisition, in accordance with ASC 805 – Business Combinations.

Consideration transferred to acquire Golden Lake was measured at fair value. Pursuant to the Arrangement Agreement, the Company issued 532,499 common shares with a fair value of $11.6 million as part of the consideration.The consideration also included 18,490 stock options with an estimated fair value of $0.1 million.

The following tables summarize the purchase price and the estimated fair value of assets acquired and liabilities assumed on April 30, 2026:


	Fair Value
	April 30, 2026
Purchase price:
Common shares	$	11,545
Options		148
	$	11,693


	Fair Value
	April 30, 2026
Purchase price:
Cash and cash equivalents	$	653
Restricted cash		245
Accounts receivable		19
Mineral property interests		11,597
Reclamation and remediation liabilities		(146)
Accounts payable and accrued liabilities		(39)
Deferred income tax liability		(636)
	$	11,693