Financial Statement (2025 09 30 BBB FS FINAL)

Consolidated Financial Statements (Expressed in Canadian dollars)

(An Exploration Stage Company)

Years ended September 30, 2025, and 2024

To the Shareholders of Brixton Metals Corporation

Opinion

We have audited the accompanying consolidated financial statements of Brixton Metals Corporation (the "Company"), which comprise the consolidated statements of financial position as at September 30, 2025 and 2024, and the consolidated statements of loss 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, these consolidated financial statements present fairly, in all material respects, the financial position of the Company as at September 30, 2025 and 2024, and its financial performance and its cash flows for the years then ended in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board.

Basis for Opinion

We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the consolidated financial statements in Canada, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained in our audit is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current year. These matters were addressed in the context of our audit of the consolidated financial statements as a whole and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Assessment of Impairment Indicators of Exploration and Evaluation Assets ("E&E Assets")

As described in Note 9 to the consolidated financial statements, the carrying amount of the Company's E&E Assets was

$6,773,415 as of September 30, 2025. As more fully described in Note 2 to the consolidated financial statements, management assesses E&E Assets for indicators of impairment at each reporting period.

The principal considerations for our determination that the assessment of impairment indicators of the E&E Assets is a key audit matter is that there was judgment made by management when assessing whether there were indicators of impairment for the E&E Assets, specifically relating to the assets' carrying amount which is impacted by the Company's intent and ability to continue to explore and evaluate these assets. This in turn led to a high degree of auditor judgment, subjectivity, and effort in performing procedures to evaluate audit evidence relating to the judgments made by management in their assessment of indicators of impairment that could give rise to the requirement to prepare an estimate of the recoverable amount of the E&E Assets.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. Our audit procedures included, among others:

• Evaluating management's assessment of impairment indicators.

• Evaluating the intent for the E&E Assets through discussion and communication with management.

• Reviewing the Company's recent expenditure activity.

• Evaluating title to ensure mineral rights underlying the E&E Assets are in good standing.

  Other Information

  Management is responsible for the other information. The other information obtained at the date of this auditor's report includes Management's Discussion and Analysis.

  Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

  In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

  We obtained Management's Discussion and Analysis prior to the date of this auditor's report. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

  Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

  Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with IFRS Accounting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

  In preparing the consolidated financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

  Those charged with governance are responsible for overseeing the Company's financial reporting process.

  Auditor's Responsibilities for the Audit of the Consolidated Financial Statements

  Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with Canadian generally accepted auditing standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

  As part of an audit in accordance with Canadian generally accepted auditing standards, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Company to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor's report is Michael MacLaren.

Vancouver, Canada Chartered Professional Accountants

January 23, 2026

Nature of operations (Note 1) Subsequent events (Note 17)

The accompanying notes are an integral part of these consolidated financial statements. Approved on behalf of the Board:

"Cale Moodie" Director

"Gary Thompson" Director

Year ended September 30,

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

September 30, 2025 551,426,298 $ 101,814,515 $ 12,462,942 $ (103,324,046) $ 10,953,411

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

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

1. Nature of operations:

   Brixton Metals Corporation ("Brixton" or the "Company") was incorporated under the Business Corporations Act of British Columbia on September 28, 2009. The Company is an exploration stage company and engages principally in the acquisition, exploration, and evaluation of mineral properties. The Company's head office address is Suite 551 - 409 Granville Street, Vancouver, BC, V6C 1T2, Canada. The Company is listed on the TSX Venture Exchange ("TSX-V") and trades under the symbol BBB.

   These consolidated financial statements have been prepared on a going concern basis which assumes that the Company will be able to realize its assets and settle its obligations in the normal course of business.

   The ability of the Company to carry out its planned business objectives is dependent on its ability to raise adequate financing from lenders, shareholders, and other investors and/or achieve operating profitability and generate positive cash flows. During the year ended September 30, 2025, the Company completed financings for gross proceeds of $8,354,309 (Note 13). Subsequent to September 30, 2025, the Company completed additional financings for gross proceeds of $12,196,194 (Note 17). There can be no assurances that the Company will continue to obtain the additional financial resources necessary and/or achieve profitability or positive cash flows. If the Company is unable to obtain adequate financing, the Company will be required to curtail operations, exploration, and evaluation activities.

   The Company estimates it has sufficient funds to operate for the ensuing 12 months.

   Ongoing geopolitical conflicts in Ukraine and Gaza has created supply chain issues, market instability and volatility, and increased inflation. The Company cannot predict the duration or magnitude of the adverse results of this conflict and its effects on the Company's business or ability to raise funds.

   These consolidated financial statements do not reflect adjustments, which could be material to the carrying values of assets and liabilities, which may be required should the Company be unable to continue as a going concern.

2. Material accounting policies:

   1. Statement of compliance:

      These consolidated financial statements have been prepared in accordance with IFRS Accounting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB").

      Unless otherwise stated, amounts are expressed in Canadian dollars.

      These consolidated financial statements were authorized for issuance by the Board on January 23, 2026.

      Certain comparative figures have been reclassified to conform to the current year's financial statement presentation. These reclassifications had no effect on previously reported net income, total assets, liabilities, or shareholders' equity.

      2. Material accounting policies (continued):

   2. Basis of consolidation:

      These consolidated financial statements include the accounts of the Company and its wholly owned subsidiary Brixton USA Corporation ("Brixton USA"). The financial statements of Brixton USA are included in the consolidated financial statements from the date on which control was transferred to the Company. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. All significant intercompany accounts and transactions have been eliminated on consolidation.

   3. Exploration and evaluation assets:

      The Company is in the process of exploring its exploration and evaluation asset and has not yet determined whether the property contains ore reserves that are economically recoverable.

      Exploration and evaluation costs are recognized in profit or loss. Costs incurred before and after the Company has obtained the legal rights to explore an area of interest are recognized in profit or loss until such time the technical feasibility and commercial viability of extracting a mineral resource are demonstrable, after which such costs are capitalized. All costs, including option payments, related to the acquisition of exploration and evaluation assets are capitalized while all other costs are expensed as incurred. Amounts received for the sale of exploration and evaluation assets, for option payments and for exploration advances are treated as reductions of the cost of the property, with receipts in excess of capitalized costs recognized in profit or loss. Upon achieving production, costs for a producing property will be amortized on a unit-of-production method based on the estimated life of the ore reserves. The recoverability of the amounts capitalized for the undeveloped exploration and evaluation assets is dependent upon the determination of economically recoverable ore reserves, confirmation of the Company's interest in the underlying mineral claims, the ability to obtain the necessary financing to complete their development, and future profitable production or proceeds from the disposition thereof.

      From time to time, the Company may acquire or dispose of properties pursuant to the terms of option agreements. Due to the fact that property options are exercisable entirely at the discretion of the optionee, the amounts payable or receivable are not accrued. Option payments are recorded as exploration and evaluation asset costs or recoveries when the payments are made or received. Option receipts in the form of marketable securities are recorded at the quoted market price on the day the securities are received.

      2. Material accounting policies (continued):

   4. Equipment:

      Equipment is carried at cost, less accumulated amortization and accumulated impairment losses. The cost of equipment consists of the purchase price, any costs directly attributable to bringing the asset to the location and condition necessary for its intended use and an initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. When parts of an item of equipment have different useful lives, they are accounted for as separate items (major components) of equipment. The Company provides for amortization on its equipment on the following basis:

      Asset Basis Annual Rate

      Computer equipment Vehicles

      Building

      Right of use asset

      Declining balance Declining balance Declining balance Straight line

      30%

      30%

      30%

      Term of lease

      Equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on disposal of the asset, determined as the difference between the net disposal proceeds and the carrying amount of the asset, is recognized in profit or loss.

   5. Impairment:

The carrying amounts of the Company's non-financial assets, other than deferred tax assets if any, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated.

For the purposes of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "cash-generating unit" or "CGU"). The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset.

The Company's corporate assets do not generate separate cash inflows. If there is an indication that a corporate asset may be impaired, then the recoverable amount is determined for the CGU to which the corporate asset belongs.

1. Material accounting policies (continued):

   1. Impairment (continued):

      An impairment loss is recognized if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognized in profit or loss.

      Impairment losses recognized in prior periods are assessed at each reporting date for any indications that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.

   2. Provision for closure and reclamation:

      The Company recognizes statutory, contractual or other legal obligations related to the retirement of its exploration and evaluation assets and its tangible long-lived assets when such obligations are incurred, if a reasonable estimate of fair value can be made. These obligations are measured initially at fair value and the resulting costs are capitalized to the carrying value of the related asset. In subsequent periods, the liability is adjusted for any changes in the amount or timing and for the discounting of the underlying future cash flows. The capitalized asset retirement cost is amortized to operations over the life of the asset.

   3. Income taxes:

      Current tax is the expected taxes payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the reporting date, and any adjustment to taxes payable in respect of previous years.

      Deferred tax is recognized in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized for the following temporary differences: the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss, and differences relating to investments in subsidiaries and jointly controlled entities to the extent that it is probable that they will not reverse in the foreseeable future. In addition, deferred tax is not recognized for taxable temporary differences arising on the initial recognition of goodwill. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantively enacted at the reporting date.

      A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realized.

      2. Material accounting policies (continued):

   4. Basic and diluted loss per share:

      Basic loss per share is computed by dividing the loss available to common shareholders by the weighted average number of common shares outstanding during the year. The computation of the diluted loss per share assumes the conversion, exercise or contingent issuance of securities only when such conversion, exercise or issuance would have a dilutive effect on the loss per share. The dilutive effect of convertible securities is reflected in diluted loss per share by application of the "if converted" method. The dilutive effect of outstanding options and warrants and their equivalents is reflected in diluted loss per share by application of the treasury stock method. Since the Company has losses, the exercise of outstanding options and warrants has not been included in this calculation as it would be anti-dilutive.

   5. Valuation of equity units issued in private placements:

      The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placements units. The residual value method first allocates value to the most easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component.

      The fair value of the common shares issued in private placements is determined to be the more easily measurable component and are valued at their fair value. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded in reserves. If the warrants are exercised, the related amount is reclassified as share capital. If the warrants expire unexercised, the related amount remains in reserves.

   6. Financial instruments:

Financial assets:

The Company classifies its financial assets in the following categories: fair value through profit or loss, amortized cost or fair value through other comprehensive income. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of financial assets at initial recognition.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss ("FVTPL") are initially recognized at fair value with changes in fair value recorded in profit or loss

(j) Financial instruments (continued): Financial assets (continued): Amortized cost

Financial assets are classified at amortized cost if both of the following criteria are met and the financial assets are not classified or designated as at fair value through profit or loss: 1) the Company's objective for these financial assets is to collect their contractual cash flows and 2) the asset's contractual cash flows represent 'solely payments of principal and interest'. The Company's cash, restricted cash, short-term investment, and receivables are recorded at amortized cost.

Fair value through other comprehensive income ("OCI")

For financial assets that are not held for trading, the Company can make an irrevocable election at initial recognition to classify the instruments at fair value through other comprehensive income ("FVOCI"), with all subsequent changes in fair value being recognized in other comprehensive income as a component of equity. This election is available for each separate investment. Under this new FVOCI category, fair value changes are recognized in OCI while dividends are recognized in profit or loss. On disposal of the investment the cumulative change in fair value is not recycled to profit or loss, rather transferred to deficit. The Company does not have any financial assets designated as FVOCI.

Financial liabilities

Financial liabilities are non-derivatives and are recognized initially at fair value, net of transaction costs, and are subsequently stated at amortized cost. Any difference between the amounts originally received, net of transaction costs, and the redemption value is recognized in profit or loss over the period to maturity using the effective interest method.

Financial liabilities are classified as current or non-current based on their maturity date. Financial liabilities include accounts payable and accrued liabilities, amounts due to related parties, and lease liability.

Fair value hierarchy

Fair value measurements of financial instruments are required to be classified using a fair value hierarchy that reflects the significance of inputs in making the measurements. The levels of the fair value hierarchy are defined as follows.

1. Material accounting policies (continued):

   1. Financial instruments (continued):

      Fair value hierarchy (continued):

      Level 1 Valuation based on quoted prices (unadjusted) in active markets for identical assets or liabilities;

      Level 2 Valuation based on directly or indirectly observable inputs (other than Level 1 inputs) such as quoted interest or currency exchange rates; and

      Level 3 Valuation based on significant inputs that are not based on observable market data such as discounted cash flow methodologies based on internal cash flow forecasts.

      Impairment of financial assets

      The Company assesses all information available, including on a forward-looking basis, the expected credit losses associated with its assets carried at amortized cost. The impairment methodology applied depends on whether there has been a significant increase in credit risk. To assess whether there is a significant increase in credit risk, the Company compares the risk of a default occurring on the asset as the reporting date, with the risk of default as at the date of initial recognition, based on all information available, and reasonable and supportive forward-looking information.

   2. Leases:

At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company assesses whether the contract involves the use of an identified asset, whether it has the right to obtain substantially all of the economic benefits from use of the asset during the term of the arrangement and if it has the right to direct the use of the asset.

As a lessee, the Company recognizes a right-of-use asset, and a lease liability at the commencement date of a lease. The right-of-use asset is initially measured at cost, which is comprised of the initial amount of the lease liability adjusted for any payments made at or before the commencement date, plus any decommissioning and restoration costs, less any lease incentives received. The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset. In addition, the right-of-use asset may be reduced due to impairment losses, if any, and adjusted for certain measurements of the lease liability

1. Material accounting policies (continued):

   1. Leases (continued):

      A lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted by the interest rate implicit in the lease, or if that rate cannot be readily determined, the incremental borrowing rate. Lease payments included in the measurement of the lease liability are comprised of:

      • fixed payments, including in-substance fixed payments, less any lease incentives receivable;

      • variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;

      • amounts expected to be payable under a residual value guarantee;

      • exercise prices of purchase options if we are reasonably certain to exercise that option; and

      • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease.

      The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, or if there is a change in our estimate or assessment of the expected amount payable under a residual value guarantee, purchase, extension or termination option. Variable lease payments not included in the initial measurement of the lease liability are charged directly to profit or loss.

      The Company does not recognize right-of-use assets and lease liability for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments associated with these leases are charged directly to profit or loss on a straight-line basis over the lease term.

   2. Foreign currency translation:

      Transactions in foreign currencies are translated at the exchange rate in effect at the date of the transaction. Foreign denominated monetary assets and liabilities are translated to their Canadian dollar equivalents using foreign exchange rates prevailing at the financial position reporting date. Exchange gains or losses arising on foreign currency translation are reflected in profit or loss for the year. The Company's reporting currency and the functional currency of all of its operations is the Canadian dollar as this is the principal currency of the economic environment in which they operate.

      2. Material accounting policies (continued):

   3. Flow-through shares:

      The Company may from time to time, issue flow-through common shares to finance a significant portion of its exploration program. Pursuant to the terms of the flow-through share agreements, these shares transfer the tax deductibility of qualifying resource expenditures to investors. On issuance, the Company separates the flow-through common share into i) a flow-through common share premium, equal to the estimated premium, if any, investors pay for the flow-through feature, which is recognized as a liability and; ii) share capital. When the resource property expenditures are incurred, the Company derecognizes the liability on a proportionate basis and recognizes the amount in profit or loss.

   4. Critical accounting judgments and estimates:

The preparation of these consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, and income and expenses. 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.

Estimates

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and further periods if the review affects both current and future periods. The most significant accounts that require estimates as the basis for determining the stated amounts include: impairment of exploration and evaluation assets; provision for environmental rehabilitation; inputs used in the valuation of share-based payments and accrual of refundable tax credits.

Share-based payments:

The Company uses the fair value-based method of accounting for stock options granted to employees and others as well as agent options or finders' warrants issued on common share issuances. Under this method, the fair value of the stock options at the date of the grant, as determined using the Black-Scholes option pricing model, is recognized to expense over the vesting period. The fair value of agent options at the date of issuance, as determined using the Black-Scholes model, is recognized as share issuance costs, with the offsetting credit to share-based payments reserve. If the stock options or agent options are exercised, the proceeds are credited to share capital and the fair value of the options or agent options exercised is reclassified from share-based payments reserve to share capital.

1. Material accounting policies (continued):

   (n) Critical accounting judgments and estimates (continued): Estimates (continued)

   Exploration and evaluation assets:

   The Company capitalizes mining property acquisition costs which are to be amortized when production is attained, or the balance thereof written off should the property be disproven through exploration or abandoned. The carrying value of the Company's mineral property is reviewed by management at least annually, or whenever events or circumstances indicate that its carrying value may not be recovered. If impairment is determined to exist, a formal estimate of the recoverable amount is performed, and an impairment loss is recognized to the extent that the carrying amount exceeds the recoverable amount. The recoverable amount of an asset is measured at the higher of value in use and fair value less costs to sell.

   Environmental rehabilitation obligation:

   The Company recognizes statutory, contractual, or other legal obligations related to the retirement of its exploration and evaluation assets and its tangible long-lived assets when such obligations are incurred, if a reasonable estimate of fair value can be made. These obligations are measured initially at fair value and the resulting costs are capitalized to the carrying value of the related asset. In subsequent periods, the liability is adjusted for any changes in the amount or timing and for the discounting of the underlying future cash flows. The capitalized asset retirement cost is amortized to operations over the life of the asset.

   Accrual of refundable mining tax credits

   The provincial government of BC provides for a refundable tax on net qualified mining exploration expenditures incurred in BC. The credit is calculated as 20% of qualified mining exploration expenses. Management has estimated and accrued the likely refundable amount arising from expenditures incurred.

   Judgments

   Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are as follows:

   Going concern:

   Significant judgments are made in the Company's assessment of its ability to continue as a going concern as described in Note 1.

2. Recent accounting pronouncements:

   Effective October 1, 2027, the Company is required to adopt IFRS 18, Presentation and Disclosure in Financial Statements, with early adoption permitted. IFRS 18 will replace IAS 1; many of the existing principles in IAS 1 are retained, with limited changes. IFRS 18 will not impact the recognition or measurement of items in the financial statements, but it might change what an entity reports as its operating profit or loss, in particular additional defined subtotals, disclosures about management-defined performance measures and new principles for aggregation and disaggregation of information. IFRS 18 is accompanied by limited amendments to the requirements in IAS 7, Statement of Cash Flows. The Company is assessing the potential impact of the application of the standards.

3. Capital management:

   The Company's objectives when managing capital are to safeguard the Company's ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders, and to bring its mineral properties to commercial production.

   The Company depends on external financing to fund its activities. The capital structure of the Company currently consists of common shares, stock options and share purchase warrants. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets, being mineral properties. In order to maintain or adjust the capital structure, the Company may issue new shares through private placements, or sell assets to fund operations. Management reviews its capital management strategy on a regular basis. The Company is not subject to externally imposed capital requirements.

   The Company invests all capital that is surplus to its immediate operational needs in short-term, liquid and highly-rated financial instruments, such as cash and other short-term demand guaranteed deposits, all held with major financial institutions.

   There were no changes in the Company's approach to capital management during the period.

4. Receivables:

   September 30,		September 30,
   2025		2024
   Amounts due from Government of Canada pursuant to GST input tax credits	$ 322,478	$ 334,644
   Amounts due from Government of BC pursuant to BC Mining Exploration tax credit	104,489	1,119,030
   Amounts due from Government of USA pursuant to
   income tax overpayments	56,681	84,772
   Other	57,606	288
   Total	$ 541,254	$ 1,538,734

5. Prepaid expenses:

   September 30, September 30,

   2025 2024

   Prepaid insurance $ 63,284 $ -

   Prepaid expenses 164,167 181,355

   Prepaid amounts to related parties 17,474 17,346

   Deposits 16,495 7,656

   Total $ 261,420 $ 206,357

6. Restricted cash:

   At September 30, 2025, the Company had a total of $531,024 (September 30, 2024 - $504,746) in bonds, comprising $455,851 (September 30, 2024 - $431,851) held with the Government of British Columbia for potential future reclamation costs on its Thorn and Yellowjacket (Atlin) projects in British Columbia and $75,173 (September 30, 2024 - $72,895) held with the State of Montana for potential future reclamation costs on its Hog Heaven project in Montana, USA (Note 9). These bonds are refundable at such time the Company completes the required exploration activities and receives approval from the regulating authorities.

7. Equipment:

   Building	Computer equipment	Vehicles	Right-of- Use Asset		Total
   Cost Balance, September 30, 2023, September 30, 2024 $ 493,947	$ 36,116	$ 57,675	$ 257,233	$	844,971
   Additions	-	6,921	-	137,395	144,316
   Balance, September 30, 2025	$ 493,947	$ 43,037	$ 57,675	$ 394,628	$ 989,287
   Accumulated Amortization Balance, September 30, 2023	$ 317,086	$ 28,934	$ 52,998	$ 174,852	$ 573,870
   Amortization expense	53,059	2,154	1,403	43,931	100,547
   Balance, September 30, 2024	$ 370,145	$ 31,088	$ 54,401	$ 218,783	$ 674,417
   Amortization expense	37,141	2,546	982	44,086	84,755
   Balance, September 30, 2025	$ 407,286	$ 33,634	$ 55,383	$ 262,869	$ 759,172
   Net Book Value Balance, September 30, 2024	$ 123,802	$ 5,028	$ 3,274	$ 38,450	$ 170,554
   Balance, September 30, 2025	$ 86,661	$ 9,403	$ 2,292	$ 131,759	$ 230,115

   9. Exploration and evaluation assets: Balance consists of:
   	September 30,	September 30,
   	2025	2024
   Thorn, BC, Canada	$ 5,353,986	$ 5,359,186
   Langis, Ontario, Canada	506,372	498,606
   Atlin, BC, Canada	913,057	907,671
   Total	$ 6,773,415	$ 6,765,463

   Title to exploration and evaluation assets involves certain inherent risks due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyance history characteristic of many exploration and evaluation assets. The Company has investigated title to its exploration and evaluation assets and to the best of its knowledge title to the assets is in good standing.

   1. Thorn, BC, Canada:

      During fiscal 2013, the Company completed the acquisition of a 100% interest in the Thorn mineral property, located in the Sutlahine River area in northwestern British Columbia. The property is subject to underlying net smelter returns royalties ("NSR") ranging from nil to 3.5% with certain NSR buy-down rights. In addition, the Company is to issue 250,000 shares or make a one-time cash payment of $1,000,000 upon commercial production.

      During fiscal 2020, the Company acquired certain additional claims as part of the project.

      On June 17, 2024, the Company entered into a royalty purchase agreement to purchase and concurrently cancel, the 2% NSR on the Check-Mate claim and the 3.5% NSR on the Stuart claims, all of which are located within the Thorn project. As consideration, the Company issued 2,500,000 common shares with a fair value of $237,500.

      On September 18, 2024, the Company acquired additional claims as part of the project. As consideration, the Company issued 1,250,000 common shares with a fair value of $106,250.

      IMGM Project

      On February 15, 2022, the Company entered into a purchase agreement to acquire a 100% interest in the IMGM Project for consideration of $70,000 (paid). The IMGM Project is subject to a 1.5% NSR, of which the Company may purchase 1% for $1,000,000.

      During the year ended September 30, 2022, the Company also paid $5,000 to acquire additional claims located within the claim block of the IMGM Project.

      Trapper Project

      During fiscal 2020, the Company acquired a 100% interest in the Trapper Project.

8. Exploration and evaluation assets (continued):

   1. Thorn, BC, Canada (continued)

      Metla Project

      On August 24, 2020, the Company entered into a purchase agreement to acquire a 100% interest in the Metla mineral claim group for consideration of 1,200,000 common shares (issued during the year ended September 30, 2021 with a fair value of $420,000) and $42,000 in cash (paid). The Metla claims will be subject to a 1% NSR.

      Taku River Tlingit First Nations Agreement

      During fiscal 2013, the Company entered into an exploration agreement with the Taku River Tlingit First Nation ("TRTFN") under which TRTFN will consent to exploration activities and support the development of the Thorn project. In exchange, the Company shall pay an annual community contribution fee of 1.25% based on the Company's annual exploration budget and provide opportunities for local employment, training and contracting related to the project.

      Reclamation Obligation

      As at September 30, 2025, the Company has recognized a reclamation obligation of $154,600 (2024 - $160,300). The undiscounted amount of estimated cash flows was estimated at $293,640. The liability was estimated using an expected life of 21 years, inflation rate of 1.85% and a risk-free credit-adjusted discount rate of 4.61%.

      The Company has also paid a total of $243,800 (2024 - $219,800) for bonds held with the Government of British Columbia in connection with potential reclamation costs on the Thorn property, which have been recorded as restricted cash at September 30, 2025 and September 30, 2024 (Note 7).

   2. Langis, Ontario, Canada:

      During fiscal 2016, the Company acquired a 100% interest in the Langis silver mine located in the Cobalt silver mining camp of Northeastern Ontario The property is subject to underlying NSR ranging from nil to 2% with certain NSR buy-down rights.

      Timiskaming First Nations Agreement

      During fiscal 2016, the Company entered into an exploration agreement with Timiskaming First Nation ("TFN"), under which TFN will consent to exploration activities and support the development of the Company's Langis project and other cobalt lands. In exchange, the Company shall pay an annual community contribution of 1.25% based on the Company's annual exploration budget and providing opportunities for local employment, training and contracting related to the project.

      Reclamation Obligation

      As at September 30, 2025, the Company has recognized a reclamation obligation of $31,083 (2024

      - $32,081). The undiscounted amount of estimated cash flows was estimated at $55,976. The liability was estimated using an expected life of 22 years, inflation rate of 1.85%, and a risk-free credit-adjusted discount rate of 4.61%.

      9. Exploration and evaluation assets (continued):

   3. Atlin, BC, Canada:

During fiscal 2017, the Company completed the acquisition of a 100% interest in the Eagle property located in Atlin, British Columbia. The property is subject to a 2% NSR, of which the Company may purchase 1% for $500,000.

During fiscal 2018, the Company acquired a 100% interest in certain mineral claims including the McKee, Otter, Yellowjacket and Spruce group of properties located in the Atlin mining district in British Columbia. The properties are subject to an NSR ranging from 1% to 1.5% with certain NSR buy-down rights.

During fiscal 2023, the Company acquired certain mineral claims located in the Atlin mining district for consideration of $4,000.

The Company has also paid a total of $212,051 (2024 - $212,051) for bonds held with the Government of British Columbia in connection with potential reclamation costs on the Yellowjacket property, which have been recorded as restricted cash at September 30, 2025 and September 30, 2024 (Note 7).

Eldorado Gold Corporation - Earn-in Agreement

On July 15, 2024, the Company entered into an agreement with Eldorado Gold Corporation ("Eldorado") whereby Eldorado has been granted the option to acquire a 100% interest in the Company's Atlin Project (the "Atlin Agreement") through completion of the following terms over a five-year period (the "Option Period"):

Cash payments of $1,100,000:

• $100,000 within 10 days of signing (received);

• $250,000 on or before September 30, 2025 (received subsequent to September 30, 2025);

• $250,000 on or before September 30, 2026;

• $250,000 on or before September 30, 2027; and

• $250,000 on or before September 30, 2028.

  Incurrence of $5,350,000 in exploration expenditures on the project as follows:

• $350,000 on or before September 30, 2024 (incurred);

• $1,000,000 on or before September 30, 2025 (incurred);

• $1,000,000 on or before September 30, 2026;

• $1,000,000 on or before September 30, 2027;

• $1,000,000 on or before September 30, 2028; and

• $1,000,000 on or before September 30, 2029.

At the end of the Option Period, in order to exercise its option to acquire a 100% interest, Eldorado must complete a payment of $7,000,000, up to 50% of which may be in common shares of Eldorado, at the Company's election. Upon exercise of the option, the Company will be granted a 1.0% NSR, with Eldorado retaining an option to purchase 0.5% of the NSR for $2,000,000 prior to commercial production. During the Option Period, the Company will be the operator of the project.

1. Exploration and evaluation assets (continued):

   1. Atlin, BC, Canada (continued):

      Eldorado Gold Corporation - Earn-in Agreement (continued)

      During the year ended September 30, 2025, the Company received $635,000 (2024 - $850,000) from Eldorado as an advance towards exploration expenditures, incurred a total of $935,364 (2024

      • $458,849) in eligible expenditures, and earned a project operator fee of $93,537 (2024 - $45,885). As cumulative expenditures and operator fees exceeded advances received at September 30, 2025, the Company has recognized a receivable of $55,606 (2024 - $345,266 advance remaining).

        Reclamation Obligation

        As at September 30, 2025, the Company has recognized a reclamation obligation of $91,188 (2024

      • $85,801). The undiscounted amount of estimated cash flows was estimated at $92,553. The liability was estimated using an expected life of 3.5 years, inflation rate of 1.85% and a risk-free credit-adjusted discount rate of 3.47%.

   2. Hog Heaven, Montana, USA:

During fiscal 2017, the Company acquired a 100% interest in the Hog Heaven project in Montana, USA. The property is subject to a 3.0% NSR. During fiscal 2021, the Company paid $1,321,420 (US$1,000,000) to acquire 1.5% of the 3.0% NSR.

The Company has paid $75,173 (US$54,000) (September 30, 2024 - US$54,000 or $72,895) for bonds held with the State of Montana in connection with potential reclamation costs on the Hog Heaven property, which have been recorded as restricted cash at September 30, 2025 and September 30, 2024 (Note 7).

Earn-in Agreement

During fiscal 2021, the Company entered into a definitive earn-in agreement (the "Earn-in Agreement") with IE Montana Holdings Ltd. ("IEM").

IEM has the right to earn a 51% interest in the Hog Heaven Project by making a total of US$4,500,000 in cash payments and incurring US$15,000,000 in exploration expenditures. Further, IEM may earn an additional 24% interest (for a total of 75% interest) in the Hog Heaven Project by incurring an additional US$25,000,000 in exploration expenditures, as follows:

1. Exploration and evaluation assets (continued):

   1. Hog Heaven, Montana, USA (continued):

      Earn-in Agreement (continued)

      • Stage 1 Cash Payments: US$500,000 (received $635,000 during the year ended September 30, 2021) by IEM on signing a definitive earn-in agreement, US$500,000 due in each of the following four years (received $635,688 during the year ended September 30, 2022, $668,100 during the year ended September 30, 2023, $681,850 during the year ended September 30, 2024, and $710,350 during the year ended September 30, 2025), and US$1,000,000 due in each of the fifth and six years (for a total of US$4,500,000 in cash payments).

      • Stage 1 Earn-In: IEM shall fund aggregate expenditures of US$15,000,000 ("Stage 1 Earn-In Expenditures") to earn a 51% interest in Brixton USA Corporation (the "Joint Venture Company"), with no less than US$3,000,000 of the Stage 1 Earn-In Expenditures being incurred by the second anniversary date of the Earn-in Agreement (incurred).

      • Stage 2 Earn-In: IEM has the right to increase its interest in the Joint Venture Company to 75% by funding an additional US$25,000,000 in expenditures ("Stage 2 Earn-In Expenditures"), by incurring minimum expenditures of US$10,000,000 by the ninth anniversary date and incurring an additional US$15,000,000 in expenditures before the eleventh anniversary date;

IEM shall control and direct all exploration, development and other related activities during the earnin periods at the Hog Heaven Project.

From the date the Stage 2 Earn-In is complete until the date that the Joint Venture Company makes a decision to commence the development and construction of an operating mine at the Hog Heaven Project, each of Brixton and IEM shall fund the activities and operations of the Joint Venture Company pro rata as to their percentage interest in the Joint Venture Company, except that, if requested by Brixton, IEM shall fund Brixton's pro rata portion of the costs of the activities and operations of the Joint Venture Company but Brixton's pro rata portion of the costs shall accrue in a notional account with interest calculated at the annual rate equal to the US Federal Reserve Secured Overnight Financing Rate + 7% ("Brixton Deferred and Accrued Costs").

At the date a construction decision is made, the Brixton Deferred and Accrued Costs shall become due and payable to IEM, and shall be paid within 12 months of the date a construction decision is made, failing which Brixton shall be subject to dilution pursuant to a standard dilution calculation. If a party's interest in the Joint Venture Company is diluted below 10% percent, then the shares of the Joint Venture Company held by such party shall be cancelled and its shareholding interest converted into a 2.0% NSR.

1. Exploration and evaluation assets (continued):

   1. Hog Heaven, Montana, USA (continued):

      Earn-in Agreement (continued)

      IEM is not obligated to make or fund any expenditures under the Earn-in Agreement and may cease making payments at any time. If IEM completes the Stage 1 Earn-In but elects not to proceed with the Stage 2 Earn-In, IEM will transfer to the Company a 2% interest in the Joint Venture Company, such that the interests are 49% IEM and 51% Brixton, and the Company shall retain a right of first offer to purchase all of IEM's interest.

      During the year ended September 30, 2025, the Company recognized a recovery in excess of carrying costs of $710,350 (2024 - $188,340).

   2. Expenditures:

      	Thorn Property BC, Canada		Langis Property ON, Canada		Atlin Property BC, Canada			Hog Heaven Property Montana, USA Total
      Year ended September 30, 2025 Analysis	$ 552,889		$ -		$ 135,059 $			- $ 687,948
      Camp and general	1,046,983		1,929		67,261			3,853 1,120,026
      Community relations	180,860		-		6,503			- 187,363
      Drilling	1,348,842		-		-			- 1,348,842
      Field supplies and rentals	701,258		9,900		77,217			- 788,375
      Field transportation	3,064,759		446		53,853			82 3,119,140
      Geological consulting	2,088,303		7,304		489,945			- 2,585,552
      Geophysics and metallurgy	156,600		-		57,784			- 214,384
      Permitting	477		-		2,635			1,452 4,564
      Recoveries	-		-		(890,257)			(4,920) (895,177)
      Government grants	35,271		-		-			- 35,271
      Total for the year	$ 9,176,242		$ 19,579		$ - $			467 $ 9,196,288
      Year ended September 30, 2024
      Analysis	$ 844,249		$ -		$ 20,903		$	-	$ 865,152
      Camp and general	1,434,286		1,528		84,354			34	1,520,202
      Community relations	132,845		-		10,000			-	142,845
      Drilling	1,636,445		-		18,558			-	1,655,003
      Field supplies and rentals	1,365,361		8,175		69,630			350	1,443,516
      Field transportation	3,683,762		(179)		19,310			2,496	3,705,389
      Geological consulting	2,654,291		-		97,590			-	2,751,881
      Geophysics and metallurgy	231,635		-		260,350			-	491,985
      Maps, orthos, and reports	375		-		-			-	375
      Permitting	6,766		-		3,797			141	10,704
      Recoveries	(123,442)		-		(483,756)			(234)	(607,432)
      Total for the year	$	11,866,573	$	9,524	$	100,736	$	2,787 $ 11,979,620

2. Flow-through premium liability

   Flow-through shares are issued at a premium, calculated as the difference between the price of a flow-through share and the price of a common share at that date, as tax deductions generated by the eligible expenditures are passed through to the shareholders of the flow-through shares once the eligible expenditures are incurred and renounced.

   During the year ended September 30, 2025, the Company completed flow-through financings for aggregate proceeds of $8,354,309 (2024 - $12,328,036) (Note 13).

   For flow-through financings completed in the year ended September 30, 2024, the Company recorded an aggregate premium of $2,462,350, which has been fully amortized at September 30, 2025 (2024 -

   $460,651 unamortized).

   For flow-through financings completed in the year ended September 30, 2025, the Company recorded an aggregate premium of $2,293,732, of which $163,183 remained unamortized at September 30, 2025 in relation to the July 2025 flow-through financing (Note 13).

   	September 30,	September 30,
   	2025	2024
   Opening balance	$ 460,651	$ -
   Additions pursuant to flow-through financings	2,293,732	2,462,350
   Amortization, pro rata based on eligible expenditures	(2,591,200)	(2,001,699)
   Closing balance	$ 163,183	$ 460,651

   No portion of the flow-through exploration obligation is accrued for accounting purposes, while the flow-through premium liability, although accrued, is a non-cash item which will ultimately be included in profit or loss.

3. Related party transactions:

During the year ended September 30, 2025, the Company paid or accrued the following amounts to key management personnel or companies controlled by them:

Key management is defined as directors and officers of the Company. Management fees include

$153,375 (2024 - $150,000) paid or accrued to a company controlled by Director and Officer, and

$291,000 (2024 - $288,400) paid or accrued to another company controlled by a Director and Officer. Director fees include payments to three independent directors.

1. Related party transactions (continued):

   As at September 30, 2025, the Company owed $94,610 (2024 - $137,591) to directors, officers, and companies with a director in common. Amounts due to related parties are non-interest bearing, with no fixed terms of repayments. As at September 30, 2025, the Company had prepaid $13,519 (2024 -

   $13,125) to a company controlled by an officer. During the year ended September 30, 2025, a spouse of a director received $120,939 (2024 - $105,675) for administrative services (included in salaries and employee benefits) and $4,275 (2024 - $46,213) for share-based compensation.

2. Lease liability:

   The Company entered into an office lease agreement during 2017 that were extended to August 14, 2022 and August 14, 2025 in fiscal 2020 and fiscal 2022, respectively, for aggregate undiscounted payments from the date of adoption of $293,953. Using an annual discount rate of 10%, the Company initially recognized aggregate additions to lease liability and right-of-use assets of $257,233.

   During the year ended September 30, 2025, the Company entered into a further extension to August 14, 2028, for total additional undiscounted payments of $158,567. Using an annual discount rate of 10%, the Company recognized additional increases to lease liability and right-of-use assets of

   $137,395.

   The following is a reconciliation of the changes in the lease liability:

   	September 30,	September 30,
   	2025	2024
   Opening balance	$ 49,419	$ 92,905
   Additions	137,395	-
   Lease accretion	6,948	6,917
   Payments	(51,273)	(50,403)
   Lease liability	142,489	49,419
   Lease liability, current portion	(35,796)	(49,419)
   Lease liability, long-term portion	$ 106,693	$ -

3. Share capital:

   1. Authorized share capital:

      Unlimited common shares without par value.

   2. Issued and outstanding common shares:

      1. Share issuances:

2025 private placements

On July 11, 2025, the Company closed a non-brokered flow-through private placement for gross proceeds of $2,370,512, issuing 18,234,708 flow-through common shares of the Company at a price of $0.13 per share. The Company recognized a flow-through premium liability of $475,032 (Note 10). In connection with the private placement, the Company paid finder's fees of $51,001, incurred other share issuance costs of $29,750, and issued 392,313 finder's warrants exercisable at $0.13 per share until July 11, 2027, with a fair value of $16,952 (Note 13(c)).

On November 22, 2024, the Company closed a non-brokered private placement in two tranches for gross proceeds of $5,983,797, issuing 66,486,631 flow-through units of the Company at a price of $0.09 per unit. Each unit consisted of one flow-through common share of the Company and one-half of one common share purchase warrant, each warrant exercisable at a price of

$0.12 per share for two years. The Company recognized a flow-through premium liability of

$1,655,517 (Note 10). In connection with the private placement, the Company paid finder's fees of $300,390, incurred other share issuance costs of $75,396, and issued 2,462,666 finder's warrants exercisable at $0.12 per share until November 22, 2026, with a fair value of $35,750 (Note 13(c)).

2024 private placements

On November 20 and November 22, 2023, the Company closed a non-brokered private placement in two tranches for gross proceeds of $14,580,536, comprising:

• 15,016,666 units of the Company at a price of $0.15 per unit, each unit consisting of one common share of the Company and one-half of one common share purchase warrant, each warrant being exercisable at a price of $0.23 per share for two years.

• 49,386,593 national flow-through units ("NFT Units") of the Company at a price of $0.17 per NFT Unit, each NFT Unit consisting of one flow-through common share of the Company and one-half of one common share purchase warrant, each warrant exercisable at a price of $0.23 per share for two years. The Company recognized a flow-through premium liability of $987,732 (Note 10).

1. Share capital (continued):

   1. Issued and outstanding common shares (continued):

      1. Share issuances (continued):

         2024 private placements (continued)

         • 16,384,645 charity flow-through units ("CFT Units") of the Company at a price of $0.24 per CFT Unit, each CFT Unit consisting of one common share of the Company and one-half of one common share purchase warrant, each warrant exercisable at a price of $0.23 per share for two years. The Company recognized a flow-through premium liability of

           $1,474,618 (Note 10).

           In connection with the private placement, the Company paid finders fees of $92,940 and issued 558,235 finder's warrants exercisable at a price of $0.23 until November 20, 2025.

           Other 2024 share issuances

           On June 28, 2024, the Company issued 2,500,000 common shares with a fair value of $237,500 in consideration for the purchase and cancellation of outstanding NSR on various claims within the Thorn project (Note 9(a)).

           On September 18, 2024, the Company issued 1,250,000 common shares with a fair value of

           $106,250 in consideration for the acquisition of claims within the Thorn project (Note 9(a)).

   2. Warrants:

As at September 30, 2025, the following warrants were outstanding:

* These warrants expired unexercised subsequent to September 30, 2025.

Number Weighted average

of warrants exercise price