Cupani Metals Corp.

Audited Consolidated Financial Statements for the Year Ended December 31, 2025 and 2024

A document from Cupani Metals on 6ix · Financial statements · Apr 30, 2026 · 32 pages

CUPANI METALS CORP.

For the years ended December 31, 2025, and 2024

Expressed in Canadian Dollars

Independent Auditor's Report

To the Shareholders of Cupani Metals Corp.:

We have audited the consolidated financial statements of Cupani Metals Corp. and its subsidiary (the "Company"), which comprise the consolidated statements of financial position as at December 31, 2025 and December 31, 2024, and the consolidated statements of operations and comprehensive loss, changes in shareholders' equity and cash flows for the years then ended, and notes to the consolidated financial statements, including material accounting policy information.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as at December 31, 2025 and December 31, 2024, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board.

We conducted our audits in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further d

Contents

  • Consolidated Financial Statements
  • Opinion
  • Basis for Opinion
  • Key Audit Matters
  • Other Information
  • Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements
  • Auditor's Responsibilities for the Audit of the Consolidated Financial Statements
  • Cupani Metals Corp. Consolidated Statements of Operations and Comprehensive Loss Expressed in CAD Dollars
  • Cupani Metals Corp. Consolidated Statements of Changes in Shareholders’ Equity
  • 1. Nature of Operations
  • 2. Basis of Presentation
  • Statement of compliance with IFRS
  • Basis of measurement
  • Basis of consolidation
  • 3. Significant Judgments, Estimates and Assumptions
  • 4. Summary of Material Accounting Policies
  • Cash and cash equivalents
  • Prepayments and deposits
  • 4. Summary of Material Accounting Policies (continued)
  • Financial instruments

Audited Consolidated Financial Statements for the Year Ended December 31, 2025 and 2024 on 6ix · Cupani Metals Corp. on 6ix