Condensed Interim Consolidated Financial Statements of
Resouro Strategic Metals Inc. For the three and nine months ended December 31, 2025 and December 31, 2024(Expressed in Canadian Dollars)
In accordance with National Instrument 51-102 released by the Canadian Securities administrators, the Company discloses that its auditors have not reviewed these condensed interim consolidated financial statements for the three and nine months ended December 31, 2025 and December 31, 2024.
RESOURO STRATEGIC METALS INC. Condensed Interim Consolidated Statements of Financial Position (Expressed in Canadian dollars)As at, | Notes | December 31, 2025 | March 31, 2025 | |
ASSETS Current assets Cash | $ 2,017,593 | $ 1,843,664 | ||
Prepaid expenses | 61,158 | 54,958 | ||
Accounts receivable | 32,500 | 26,800 | ||
2,111,251 | 1,925,422 | |||
Non-current assets Right-of-use asset | 6 | - | 7,849 | |
Property and equipment | 4 | 169,986 | 218,391 | |
Exploration and evaluation assets | 5 | 5,730,340 | 5,730,340 | |
5,900,326 | 5,956,580 | |||
TOTAL ASSETS | 8,011,577 | 7,882,002 | ||
LIABILITIES Current liabilities Accounts payable and accrued liabilities | 8 | 159,390 | 167,342 | |
Due to related party | 11 | 69,634 | 100,019 | |
Lease obligation - current portion | 7 | - | 5,789 | |
229,024 | 273,150 | |||
TOTAL LIABILITY | 229,024 | 273,150 | ||
SHAREHOLDERS' EQUITY | ||||
Share capital | 9 | 21,363,745 | 19,480,922 | |
Warrants | 9 | 1,562,381 | 464,274 | |
Contributed surplus | 3,497,082 | 3,471,602 | ||
Foreign currency translation reserve | 32,087 | 32,087 | ||
Non-controlling interest | (97,100) | 17,080 | ||
Deficit attributable to shareholders | (18,575,642) | (15,857,113) | ||
Total shareholders' equity | 7,782,553 | 7,608,852 | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 8,011,577 | $ | 7,882,002 |
Going Concern 1
Approved by the Board of Directors on February 5, 2026"Christopher Eager" "Philippe Martins"
CEO and Director Director
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
RESOURO STRATEGIC METALS INC. Condensed Interim Consolidated Statements of Loss and Other Comprehensive Loss (Expressed in Canadian dollars) Three months ended Nine months ended December 31, December 31,Notes | 2025 | 2024 | 2025 | 2024 | |
General and administrative | |||||
Management fees | $ 217,346 | $ 449,650 | $ 800,680 | $ 1,217,931 | |
Professional fees | 37,337 | 125,526 | 436,470 | 1,111,766 | |
Investor relations | 212,002 | 48,612 | 317,478 | 232,193 | |
Travel - project related | 78,913 | 38,563 | 97,066 | 34,917 | |
Office and administrative | 34,193 | 30,328 | 83,430 | 70,461 | |
Share-based compensation | 9 | - | 152,501 | 25,480 | 266,401 |
Depreciation | 4 | 9,676 | 18,468 | 26,401 | 30,321 |
Accretion of right-of-use obligation | 6 | - | 716 | 182 | 2,876 |
Depreciation of right-of-use asset | 6 | - | 7,437 | 7,247 | 22,062 |
Foreign exchange loss (gain) | 6,738 | 107,050 | 18,768 | 28,212 | |
Exploration and evaluation expenditures | 5 | 521,769 | 493,075 | 1,069,848 | 2,402,405 |
1,117,974 | 1,471,926 | 2,883,050 | 5,419,545 | ||
Other items | |||||
Interest income | (9,923) | (48,410) | (50,341) | (140,016) | |
Total comprehensive loss | 1,108,051 | 1,423,516 | 2,832,709 | 5,279,529 | |
Total comprehensive loss attributable to | |||||
Common shareholders | 1,064,220 | 1,373,422 | 2,718,529 | 5,074,730 | |
Non-controlling interest | 10 | 43,831 | 50,094 | 114,180 | 204,799 |
Attributable comprehensive loss | $ 1,108,051 | $ 1,423,516 | $ 2,832,709 | $ 5,279,529 | |
Net loss per share - basic and diluted | $ (0.01) | $ (0.02) | $ (0.03) | $ (0.05) | |
Weighted average shares outstanding basic | and diluted | 104,003,092 | 92,526,532 | 96,106,496 | 88,019,389 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
RESOURO STRATEGIC METALS INC. Condensed Interim Consolidated Statements of Cash Flow (Expressed in Canadian dollars) Nine months ended December 31,Note | 2025 | 2024 | |
Cash flow used in operating activities | |||
Loss for the period | $ (2,832,709) | $ (5,279,529) | |
Items not affecting cash: | |||
Share-based compensation | 9 | 25,480 | 266,401 |
Depreciation | 4 | 26,401 | 30,321 |
Foreign exchange | 28,371 | 28,828 | |
Accretion of right-of-use obligation | 6 | 182 | 2,876 |
Depreciation of right-of-use asset | 6 | 7,247 | 22,062 |
Net change in non-cash working capital balances: | |||
Accounts receivable | (5,700) | 19,088 | |
Interest receivable | - | (14,728) | |
Prepaid expenses | (6,200) | 2,223 | |
Due from related parties | (30,385) | (43,975) | |
Accounts payable and accrued liabilities | (7,952) | (827,839) | |
Cash flow used in operating activities | (2,795,265) | (5,794,272) | |
Cash flow provided by financing activities | |||
Repayment of office lease | 7 | (5,145) | (24,621) |
Exercise of stock options | 9 | - | 46,375 |
Private placement, net share issue costs | 9 | 2,980,931 | 6,794,743 |
Cash flow provided by financing activities | 2,975,786 | 6,816,497 | |
Cash flow used in investing activities | |||
Exploration and evaluation costs | 5 | - | (50,000) |
Property and equipment | 4 | (6,592) | (29,928) |
Cash flow used in investing activities | (6,592) | (79,928) | |
Net change in cash | 173,929 | 942,297 | |
Cash at beginning of the period | 1,843,664 | 1,921,272 | |
Cash at the end of the period | $ 2,017,593 | $ 2,863,569 | |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
RESOURO STRATEGIC METALS INC. Condensed Interim Consolidated Statements of Shareholders' Equity (Expressed in Canadian dollars)Share Capital
Number of shares | Amount | Warrants | Contributed surplus | Non-controlling interest | Other comprehensive income | Accumulated deficit | Total equity | |
Balance at March 31, 2023 | 43,974,956 | $ 5,770,329 | $ 359,707 | $ - | $ - | $ 32,087 | $ (6,109,783) | $ 52,340 |
Shares issued in private placements (Note 9) | 30,565,236 | 6,743,000 | - | - | - | - | - | 6,743,000 |
Shares issued as compensation | 1,642,000 | 870,260 | - | - | - | - | - | 870,260 |
Shares issuance costs (Note 9) | - | (413,380) | - | - | - | - | - | (413,380) |
Agent shares (Note 9) | - | 120,000 | - | - | - | - | - | 120,000 |
Agent warrants (Note 9) | - | (104,567) | 104,567 | - | - | - | - | - |
Share based compensation (Note 9) | - | - | - | 1,385,975 | - | - | - | 1,385,975 |
Acquisition compensation issued | - | - | - | 1,456,400 | - | - | - | 1,456,400 |
Non-controlling interest (Note 11) | - | - | - | - | 258,519 | - | - | 258,519 |
Loss for the year attributable to shareholders | - | - | - | - | (4,680) | - | (3,695,693) | (3,700,373) |
Balance at March 31, 2024 | 76,182,192 | $ 12,985,642 | $ 464,274 | $2,842,375 | $ 253,839 | $ 32,087 | $ (9,805,476) | $ 6,772,741 |
Shares issued in private placements (Note 9) | 16,000,000 | 7,300,420 | - | - | - | - | - | 7,300,420 |
Shares issuance costs (Note 9) | - | (933,772) | - | - | - | - | - | (933,772) |
Shares issued - property acquisition (Note 5) | 142,857 | 40,000 | - | - | - | - | - | 40,000 |
Agent options (Note 9) | - | - | - | 428,094 | - | - | - | 428,094 |
Stock options exercised (Note 9) | 265,000 | 88,632 | - | (42,257) | - | - | - | 46,375 |
Share based compensation (Note 9) | - | - | - | 243,390 | - | - | - | 243,390 |
Loss for the year attributable to shareholders | - | - | - | - | (236,759) | - | (6,051,637) | (6,288,396) |
Balance at March 31, 2025 | 92,590,049 | $ 19,480,922 | $ 464,274 | $3,471,602 | $ 17,080 | $ 32,087 | $ (15,857,113) | $ 7,608,852 |
Shares issued in private placements (Note 9) | 15,000,000 | 1,882,823 | - | - | - | - | - | 1,882,823 |
Common share warrants (Note 9) | - | - | 1,098,107 | - | - | - | - | 1,098,107 |
Share based compensation (Note 9) | - | - | - | 25,480 | - | - | - | 25,480 |
Loss for the period attributable to shareholders | - | - | - | - | (114,180) | - | (2,718,529) | (2,832,709) |
Balance at December 31, 2025 | 107,590,049 | $ 21,363,745 | $ 1,562,381 | $3,497,082 | $ (97,100) | $ 32,087 | $ (18,575,642) | $ 7,782,553 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
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