Unaudited Financial Statement 1st Quarter for the Period Ending December 31, 2025

Page NOTICE OF NON-REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 3

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Condensed Interim Consolidated Statements of Financial Position 4

Condensed Interim Consolidated Statements of Income and Comprehensive Income 5

Condensed Interim Consolidated Statements of Cash Flows 6

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity 7

Notes to the Condensed Interim Consolidated Financial Statements 8-24

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

The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The attached condensed interim consolidated financial statements for the three months ended December 31, 2025 have not been reviewed by the Company's auditors.

Condensed Interim Consolidated Statements of Financial Position as at, (Unaudited - Expressed in Canadian Dollars)

"Walter Henry" Director "James Ladner" Director Water Henry James Ladner

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

Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) For the three months ended December 31,

(Unaudited - Expressed in Canadian Dollars)

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

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

RIVERSIDE RESOURCES INC.

Condensed Interim Consolidated Statements of Changes in Equity (Unaudited - Expressed in Canadian Dollars)

Capital Stock Accumulated

other

Non-

Note Shares Amount

Subscription

receivable Reserves

Accumulated

Deficit

comprehensive loss (income)

controlling

interest Total

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

Page 7 of 24

1. Nature of operations and going concern

   Riverside Resources Inc. (the "Company" or "Riverside") is a mineral exploration and evaluation company operating as a prospect generator listed on the TSX Venture Exchange (the "Exchange") under the symbol "RRI" and is engaged in the acquisition, exploration and evaluation of assets in the Americas including Canada, the United States and Mexico.

   The Company's head office address is 550 - 800 West Pender Street, Vancouver, British Columbia, Canada V6C 2V6.

   These condensed interim consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

   The Company's ability to continue operations is uncertain and is dependent upon the ability of the Company to obtain necessary financing to meet the Company's liabilities and commitments as they become payable, acquiring assets or a business, and the ability to generate future profitable production or operations or sufficient proceeds from the disposition thereof. The outcome of these matters cannot be predicted at this time. The condensed interim consolidated financial statements do not include adjustments to amounts and classifications of assets and liabilities that might be necessary should the Company be unable to continue operations as a going concern. Management believes that the Company has sufficient working capital to maintain its operations and activities for the next fiscal year.

   These condensed interim consolidated financial statements were approved and authorized for issue by the Board of Directors on February 27, 2026.

2. Basis of presentation and statement of compliance

   These condensed interim consolidated financial statements have been prepared on a historical cost basis, except for financial instruments classified as financial instruments as fair value through profit and loss or available for sale, which are stated at their fair value. All dollar amounts presented are in Canadian dollars unless otherwise specified. In addition, these condensed interim consolidated financial statements have been prepared using the accrual basis of accounting except for cash flow information.

   These condensed interim consolidated financial statements, including comparatives, have been prepared in accordance with International Accounting Standards ("IAS 34"), "Interim Financial Reporting" using accounting policies consistent with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and International Financial Reporting Interpretations Committee ("IFRIC"). Therefore, these interim financial statements comply with International Accounting Standards ("IAS") 34 "Interim Financial Reporting.

3. Material accounting policy information

   1. Principles of consolidation

      These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation.

      Name of subsidiary Country of incorporation

      Proportion of ownership

      interest Principal activity

      Riverside Resources Mexico, S.A. de C.V. Mexico 100% Mineral exploration

      RRM Exploracion, S.A.P.I. de C.V. Mexico 100% Mineral exploration

      RRM Minas S DE RL de C.V. Mexico 100% Mineral exploration RRI Exploration Inc. United States 100% Mineral exploration Riverside Resources (BC) Inc. Canada 100% Mineral exploration

      RRI Holdings Limited Canada 100% Holding company

      1412597 BC LTD. Canada 100% Holding company

      1412601 BC LTD. Canada 100% Holding company

4. Plan of Arrangement

   On October 27, 2023, the Company incorporated Blue Jay Resources Corp., which was subsequently renamed Blue Jay Gold Corp. ("Blue Jay"). On November 1, 2023, Blue Jay issued 14,956,693 common shares at $0.115 to Riverside Resources Inc. ("Riverside") to acquire the Pichette-Clist Gold Project, Oakes Gold Project and the Duc Gold Project (the "Ontario Properties").

   On January 28, 2025, the Company announced the execution of a definitive arrangement agreement with Blue Jay in respect of the spin-out of its Pichette, Oakes and Duc projects, to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the "Arrangement"). Under the Arrangement, the Company will distribute the common shares of Blue Jay to Riverside's shareholders. Riverside's current shareholders will receive Blue Jay Shares by way of a share exchange, pursuant to which each existing common share of Riverside will be exchanged for one new common share of Riverside and 1/5th of a Blue Jay share.

   On May 22, 2025, the Company and Blue Jay completed the previously announced plan of arrangement. Under the arrangement, the shares of Blue Jay held by the Company were spun out to the Company's shareholders, effective May 22, 2025.

   The distribution of Blue Jay shares to Riverside's shareholders represent a non-cash distribution to owners. In accordance with IFRIC 17, "Distributions of Non-cash Assets to Owners", the Company measured the distribution at the fair value of the Blue Jay shares on the effective date of the Arrangement, resulting in a return of capital of $5,982,678. The fair value of the distribution was determined based on the observable arm's length financings completed by Blue Jay prior to the Arrangement.

   Under the terms of the Arrangement, each issued and outstanding Riverside option has been adjusted for the assets spun-out. The exercise prices of the Riverside replacement stock options were adjusted based on the proportional market value of the two companies after completion of the Arrangement (see Note 12).

   Blue Jay completed arm's length equity financings on December 18, 2024 and May 7, 2025. As the Company retained control of Blue Jay following these financings, the transactions were accounted for as equity transactions in accordance with IFRS 10, "Consolidated Financial Statements", resulting in the recognition and subsequent measurement of non-controlling interests ("NCI") in consolidation.

   A continuity of NCI is as follows:

   CAD$

   NCI balance, September 30, 2024 -

   NCI recognized 690,417

   Share of loss allocated to NCI (118,789)

   NCI derecognized on disposal of Blue Jay (571,628) NCI balance, September 30, 2025 -

   Upon completion of the Arrangement, the Company lost control of Blue Jay and derecognized Blue Jay's assets and liabilities and related non-controlling interests in accordance with IFRS 10. The Company recognized a gain on disposal of subsidiary of

   $4,286,380, which was determined based on the fair value of the distribution to owners of $5,982,678, plus the carrying amount of non-controlling interests derecognized of $571,628, less the carrying value of net assets derecognized of $2,267,926, which was comprised of cash of $458,229, prepaids of $149,892, other current assets of $168,895, and exploration and evaluation assets of $2,391,550 net of accounts payable and other liabilities of $900,640.

5. Short-term investments

   Short-term investments include marketable securities received as a result of property option agreements. Marketable securities comprise common shares in publicly traded and private companies as follows:

   December 31, 2025 September 30, 2025

   	Number of shares	Cost	Fair market value	Number of shares	Cost	Fair market value
   Arcus Development Group Inc. (1)	2,900	$ 11,020	$ 957	29,000	$ 11,020	$ 870
   Guerrero Exploration Inc.	950,000	343,049	-	950,000	343,049	-
   Goldshore Resources Inc. (formerly
   Sierra Madre Developments Inc.)	104,194	1,103,791	69,810	104,194	1,103,791	54,181
   Sinaloa Resources Corp.	1,000,000	100,000	-	1,000,000	100,000	-
   First Helium Inc.	154,500	45,308	4,635	154,500	45,308	3,863
   Upper Canada Mining Inc.	5,600,000	-	-	5,600,000	-	-
   Southern Empire Resources	1,620,000	135,324	81,000	1,620,000	135,324	113,400
   Questcorp Mining Inc. (2)	6,285,722	1,175,430	722,858	6,285,722	1,175,430	1,194,287
   Blue Jay Gold Corp. (3)	250,000	150,000	-	-	-	-
   	15,967,316	$ 3,063,922	$ 879,260	15,743,416	$ 2,913,922	$ 1,366,601

   (1)On December 31, 2025, Arcus Development Group Inc. completed a 10:1 share consolidation. These shares been retroactively restated in the table above.

   (2)On May 20, 2025, the Company received 6,285,722 shares of Questcorp Mining Inc. with a fair market value of $1,175,430 as per the option agreement for Union property (see Note 9 (h) for additional details).

   (3)On October 31, 2025, the Company received 250,000 shares of Blue Jay Gold Corp. as part of the debt settlement agreement of $750,646, whereby $600,646 was included as write-down of receivables and the remaining $150,000 was settled through shares at $0.60 per share.

6. Receivables

Receivables mainly consist of receivable from a third party and tax refunds from the Federal Government of Canada and Mexico.

December 31,

2025

September 30,

2025

GST recoverable amounts in Canada $ 20,451 $ 15,660

IVA recoverable amounts in Mexico 338,569 254,870 Receivable from a third party - 750,646

359,020 1,021,176

IVA recoverable amounts in Mexico 538,535 535,210

$ 897,555 $ 1,556,386

On October 31, 2025, the Company and Blue Jay signed a debt settlement agreement, whereby the aggregate amount of

$750,646 arising from the advances made by Company to Blue Jay were fully settled by debt forgiveness of $600,646 and the remaining $150,000 by subscribing for units on Blue Jay's non-brokered private placement (see Note 5).

During the period ended December 31, 2025, the Company wrote down IVA recoverable amounts in Mexico by $Nil (September 30, 2025 - $243,948) based on aged IVA recoverable amounts in Mexico.

$ 130,253 $ 73,539

1. Exploration and evaluation assets For the period ended December 31, 2025

   La Silla Mexico			Australia Mexico		Ariel Mexico		Cecilia Mexico		Teco Suaqui Verde Los Cuarentas Mexico Mexico Mexico						La Union Mexico		El Valle Mexico		Northwestern Ontario, Canada		British Columbia, Canada Total
   Acquisition costs	$ -		$ -		$ -		$ 6,246		$ -		$ -		$ 152		$ -		$ -		$ -		$ 12,000		$ 18,398
   Exploration costs:
   Assaying	-		-		-		-		-		-		-		-		-		-		26,885		26,885
   Field & camp costs	- 241				-		670		- -				7,419		2,312		300		-		14,352		25,294
   Geological consulting	- -				9,267		12,921		- 2,750				31,664		22,976		6,885		-		46,850		133,313
   Surveys & geophysics	- -				-		-		- -				-		-		284		-		-		284
   Transport & support	- 1,394				3,017		2,619		- -				14,130		25,374		4,089		-		8,032		58,655
   Total current exploration costs	- 1,635				12,284		16,210		- 2,750				53,213		50,662		11,558		-		96,119		244,431
   Professional & other fees: Professional consulting		-		-		3,000		-		-		-		-		7,500		3,000		-		6,000		19,500
   Legal fees		-		-		4,090		4,090		608		608		6,076		3,120		9,172		-		-		27,764
   Others		-		-		956		293		-		-		45		191		541		-		3,615		5,641
   Total current professional & other fees		-		-		8,046		4,383		608		608		6,121		10,811		12,713		-		9,615		52,905
   Total costs incurred during the period		-		1,635		20,330		26,839		608		3,358		59,486		61,473		24,271		-		117,734		315,734
   Balance, Opening		-		91,320		1,018,296		1,493,746		381,014		28,228		580,296		312,637		177,732		236,371		521,467		4,841,107
   Asset write-off		-		-		-		-		-		-		-		-		-		(98,148)		-		(98,148)
   Recoveries		-		-		-		-		-		-		-		-		-		-		-		-
   Foreign exchange movements		-		364		2,637		3,303		1,355		57		1,937		6,960		230		-		-		16,843
   Balance, End of the period	$	-	$	93,319	$	1,041,263	$	1,523,888	$	382,977	$	31,643	$	641,719	$	381,070	$	202,233	$	138,223	$	639,201	$	5,075,536

   Cumulative costs: Acquisition	$ 101,562	$ 19,367	$ 435,640	$ 733,754	$ 148,180	$ 18,017	$ 368,853	$ 826,129	$ 37,795	$ 109,073	$ 154,410	$ 2,952,780
   Exploration	621,303	51,530	455,270	1,103,086	141,976	48,356	307,594	974,219	105,437	2,473,466	887,985	7,170,222
   Professional & other fees	160,287	14,227	140,366	172,809	35,214	2,664	34,147	147,336	67,674	258,815	102,377	1,135,916
   Recoveries	-	-	-	(696,001)	-	(43,097)	(122,519)	(1,689,982)	-	(203,233)	(150,114)	(2,904,946)
   Transferred to Blue Jay	-	-	-	-	-	-	-	-	-	(2,391,550)	-	(2,391,550)
   Asset write-off	(931,324)	-	-	-	-	-	-	-	(12,790)	(108,348)	(355,457)	(1,407,919)
   Foreign exchange movements	48,172	8,195	9,987	210,240	57,607	5,703	53,644	123,368	4,117	-	-	521,033
   	$ -	$ 93,319	$ 1,041,263	$ 1,523,888	$ 382,977	$ 31,643	$ 641,719	$ 381,070	$ 202,233	$ 138,223	$ 639,201	$ 5,075,536

   Foreign exchange movements	1,342	7,954	57,683	76,515	30,612	1,015	41,445	154,377	4,160	-	-	375,103
   Balance, End of the year	$ -	$ 91,320	$ 1,018,296	$ 1,493,746	$ 381,014	$ 28,228	$ 580,296	$ 312,637	$ 177,732	$ 236,371	$ 521,467	$ 4,841,107
   Cumulative costs: Acquisition	$ 101,562	$ 19,367	$ 435,640	$ 727,508	$ 148,180	$ 18,017	$ 368,701	$ 826,129	$ 37,795	$ 109,073	$ 142,410	$ 2,934,382
   Exploration	621,303	49,895	442,986	1,086,876	141,976	45,606	254,381	923,557	93,879	2,473,466	791,866	6,925,791
   Professional & other fees	160,287	14,227	132,320	168,426	34,606	2,056	28,026	136,525	54,961	258,815	92,762	1,083,011
   Recoveries	-	-	-	(696,001)	-	(43,097)	(122,519)	(1,689,982)	-	(203,233)	(150,114)	(2,904,946)
   Transferred to Blue Jay	-	-	-	-	-	-	-	-	-	(2,391,550)	-	(2,391,550)
   Asset write-off	(931,324)	-	-	-	-	-	-	-	(12,790)	(10,200)	(355,457)	(1,309,771)
   Foreign exchange movements	48,172	7,831	7,350	206,937	56,252	5,646	51,707	116,408	3,887	-	-	504,190
   	$ -	$ 91,320	$ 1,018,296	$ 1,493,746	$ 381,014	$ 28,228	$ 580,296	$ 312,637	$ 177,732	$ 236,371	$ 521,467	$ 4,841,107

   For the year ended September 30, 2025

   La Silla Australia Ariel Cecilia Teco Suaqui Verde Los Cuarentas La Union Mexico Mexico Mexico Mexico Mexico Mexico Mexico Mexico									El Valle Mexico	Northwestern Ontario, Canada	British Columbia, Canada	Total
   Acquisition costs	$ -	$ 5,495	$ 60,654	$ 8,029	$ 18,363	$ 5,889	$ 25,871	$ 98,749	$ 15,478	$ 4,620	$ 62,673	$ 305,821
   Exploration costs:
   Assaying	-	-	-	-	-	-	-	-	-	8,532	12,611	21,143
   Field & camp costs	-	972	6,359	5	-	-	14,773	18,420	2,861	72,604	33,531	149,525
   Geological consulting	-	418	38,728	23,000	392	14,392	84,882	67,010	24,167	200,160	200,750	653,899
   Surveys & geophysics	-	-	-	-	-	-	-	-	3,826	9,776	950	14,552
   Transport & support	-	5,152	13,759	582	-	-	21,823	28,918	10,477	49,955	51,005	181,671
   Total current exploration costs	-	6,542	58,846	23,587	392	14,392	121,478	114,348	41,331	341,027	298,847	1,020,790
   Professional & other fees:
   Professional consulting	-	-	17,000	660	-	-	-	17,763	12,000	15,406	30,250	93,079
   Legal fees	-	181	5,937	-	862	862	2,507	1,777	1,724	-	-	13,850
   Others	-	-	2,105	-	-	-	2,323	6,579	1,696	5,760	13,658	32,121
   Total current professional & other fees	-	181	25,042	660	862	862	4,830	26,119	15,420	21,166	43,908	139,050
   Total costs incurred during the year	-	12,218	144,542	32,276	19,617	21,143	152,179	239,216	72,229	366,813	405,428	1,465,661
   Balance, Opening	17,516	71,148	816,071	1,384,955	330,785	6,070	386,672	1,480,736	101,343	2,339,341	369,752	7,304,389
   Asset write-off	(18,858)	-	-	-	-	-	- - - - (103,599) (122,457)
   Recoveries	-	-	-	-	-	-	- (1,561,692) - (78,233) (150,114) (1,790,039)
   Transferred to Blue Jay	-	-	-	-	-	-	- - - (2,391,550) - (2,391,550)

   Title to exploration and evaluation asset interests 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 conveyancing history characteristic of many mineral claims. The Company has investigated title to all of its exploration and evaluation asset interests and, to the best of its knowledge, title to all of its interests is in good standing. The exploration and evaluation asset interests in which the Company has committed to earn an interest are in Mexico and Canada.

   The terms and commitments of the Company with respect to its exploration and evaluation assets are subject to change if and when the Company and its partners mutually agree to new terms and conditions.

   1. La Silla, Sinaloa, Mexico

      In October 2015, the Company acquired two mining concessions in the La Silla gold-silver district in Sinaloa through a lottery process. The Company has a 100% exploration concession interest in the La Silla Property.

      In December 2023, the Company decided to focus on other projects of higher prospectivity and the related investment amounting to $761,255 was fully written off. However, the Company still maintained its rights to these concessions.

      In July 2024, the Company signed an agreement to assign and transfer all its rights and concessions of La Silla project with payment terms subject to certain conditions. Upon execution of the agreement, the Company received US$100,000. While the remaining payments of US$150,000 and US$350,000, respectively, will only be received upon fulfillment of certain government regulatory approvals.

   2. Ariel, Sonora, Mexico

      The Company acquired a 100% exploration concession interest in Ariel Property on June 1, 2017.

   3. Cecilia, Sonora, Mexico

      The Company acquired 100% interest in the La Cecilia Margarita concessions from Gunpoint in January 2020.

      On March 14, 2024, the Company entered into an Exploration Earn-In Option Agreement (the "Agreement") with Compania Minera Cuzcatlan ("Fortuna"), a wholly owned subsidiary of Fortuna Silver Mines Inc. for the Company's Cecilia Gold Silver Project (the "Project") in Sonora, Mexico. The Company received US$25,000 upon execution of the agreement and recorded the full amount as a recovery.

      The Company received a total of US$2,032,989 throughout the whole project as exploration advances from Fortuna for the exploration activities of Cecilia project. During the period ended December 31, 2025, the Company recognized $Nil ($21,369 - December 31, 2024) as operational fee recovery relating to activities of the agreement.

      On July 7, 2025, the Company received notice from Fortuna that they will not be proceed with the option agreement with respect to Cecilia project.

   4. Teco, Sonora, Mexico

      The Company has a 100% ownership interest in the Teco Project which is made up of two concessions: Teco and Suaqui Grande. The Teco concession registration remains pending with Mexico authorities.

   5. Australia, Sonora, Mexico

      The Company has a 100% interest ownership interest in the Australia Project which is made up of two concessions: Sandy and Sandy 2.

   6. Suaqui Verde, Mexico

      The Company has a 100% interest in Suaqui Verde Property.

      On December 24, 2021, the Company entered into a Definitive Option Agreement with Southern Empire Resource Corp. ("Southern Empire") whereby Southern Empire could acquire a 100% interest in the Suaqui Verde Property, by paying

      $112,500 in cash, issuing 1,625,000 common shares while retaining a 2.5% NSR on precious metal products and 1.75% NSR on base metal products. The transaction details as below:

      Due date	Cash	Common shares
      Upon the closing date (December 24, 2021)	$25,000 (received)	500,000 (received)
      On or before the first anniversary of the closing date (December 24, 2022)	$37,500 (received)	550,000 (received)
      On or before the second anniversary of the closing date (March 31, 2024 amended)	$50,000	575,000 (received)

      On October 1, 2021, the Company received the payment of $50,000 for granting an exclusivity period of 60 days from October 1, 2021, to complete its due diligence on the Suaqui Verde property.

      On January 11, 2023, the Company received $37,500 cash and 550,000 shares of Southern Empire Resources Corp. with a fair market value of $55,000 as per the option agreement for the Suaqui Verde property.

      On January 11, 2024, the Company amended the Option Agreement with Southern Empire Resources Corp. to revise the terms of the original agreement for the Suaqui Verde property, whereby the $50,000 cash originally due on December 24, 2023 was changed to March 31, 2024, and the common shares were due on or before February 2, 2024.

      On February 2, 2024, the Company received an additional 575,000 shares of Southern Empire Resources Corp. with a fair market value of $25,875 as per the amended option agreement for the Suaqui Verde property and was fully recognized as other income.

      During the period ended December 31, 2025, the Company had not yet received the $50,000 cash payment.

   7. Los Cuarentas, Sonora, Mexico

      On June 24, 2019, the Company entered into a binding letter agreement with Alaska Energy Metals to acquire a 100% undivided right, title, and interest in five projects, including Los Cuarentas, La Union, El Valle, Llano del Nogalo and El Pima, at a purchase price of $35,000 cash (paid) and 150,000 common shares (issued at a fair market value of $24,000). During the year ended September 30, 2021, the Company obtained ownership of the properties of Llano del Nogalo and El Valle. In 2022, the El Pima property was sold to an unrelated party for $50,000.

   8. La Union, Sonora, Mexico

      The Company has a 100% exploration concession interest in certain portions of the La Union Property and an option to acquire 100% interest in others as noted below:

      YEAR	PAYMENTS	in USD
      1	August 31, 2022	$10,000 (paid)
      2	August 31, 2023	$15,000 (paid)
      3	August 31, 2024	$25,000 (paid)
      4	August 31, 2025	$50,000 (paid)
      5	August 31, 2026	$75,000
      TOTAL		$175,000

      On May 6, 2025, the Company entered into a definitive option agreement with Questcorp Mining Inc. ("Questcorp") for the La Union project located in Sonora, Mexico. Under the agreement, Questcorp can acquire 100% interest in the project by fulfilling the following terms and granting the Company a 2.5% net smelter royalty on commercial production:

      Due date	Cash payment	Share issuance	Exploration expenditures
      Within two business days of the date of agreement	$25,000 (paid)	N/A	N/A
      On May 20, 2025	N/A	9.9%	N/A
      On or before May 20, 2026	N/A	14.9% (1)(2)	$1,000,000
      On or before May 20, 2027	$25,000	19.9% (1)(2)	$1,250,000
      On or before May 20, 2028	$25,000	19.9% (1)(2)	$1,500,000
      On or before May 20, 2029	$25,000	19.9% (1)(2)	$1,750,000
      Total	$100,000	19.9% (1)(2)	$5,500,000

      (1) Issuable within the fifth business day after the applicable date.

      (2) Expressed as a cumulative total percentage of the undiluted issued and outstanding common shares of Questcorp as of the applicable payment date, and assuming Riverside has not previously disposed of any common shares.

      Subsequently on May 7, 2025, the Company received $25,000 cash payment from Questcorp and 6,285,722 common shares with a fair value of $1,175,430, representing 9.9% of Questcorp's issued and outstanding shares as of May 20, 2025 (see Note 5).

      On May 27, 2025, the Company also received $351,262 (US$250,000) cash payment from Questcorp as reimbursement of previous years' cost incurred in maintaining the land and taxes.

   9. Northwestern Ontario, Canada

      In April 2019, the Company acquired a 100% interest in the Oakes, Longrose, Pichette and Vincent projects in Northwestern Ontario, Canada. In July 2020, the Company expanded and acquired a 100% interest in the High Lake (Kenora) project in Western Ontario, Canada.

      On May 22, 2025, the Company completed the Arrangement and transferred its 100% interest of Pichette-Clist gold project, Duc gold project and Oakes gold project collectively referred as Ontario Properties to Blue Jay as previously mentioned in Note 4.

      During the period ended December 31, 2025, the Company wrote off all costs related to Longrose and Vincent projects for

      $98,148 and was included under write-down of E&E assets.

   10. Southern British Columbia, Canada

       On November 5, 2025, the Company signed an option agreement wherein the Company may acquire up to 100% interest in the Redtop property located in British Columbia, Canada. Under the agreement, the Company is granted a sole and exclusive right and option to acquire up to 100% interest in the said property by making the following cash payments and incurring the following exploration expenditures as follows:

       Due date	Cash	Exploration expenditures
       Upon signing of Agreement, November 5, 2025	$12,000 (paid)	-
       On or before the approval date	$21,000	$50,000
       On or before the one year anniversary of the approval date	$27,000	$100,000
       On or before the two year anniversary of the approval date	$45,000	$300,000
       On or before the three year anniversary of the approval date	$75,000	$300,000

       Except for the first payment upon signing of the agreement, the above cash payments and expenditures are optional, and the Company maintains the right to accelerate payments at any time.

       On September 29, 2023, the Company signed a Letter Agreement (LA) wherein the Company may acquire up to 100% interest in the Deer Park and Sunrise projects located in British Columbia, Canada. Under the LA, the Company is granted a sole and exclusive right and option to acquire up to 100% interest in the said property by making the following cash payments and incurring the following exploration expenditures as follows:

       Due date	Cash	Exploration expenditures
       Upon the date of LA (September 29, 2023)	$25,000 (paid)	-
       On the first anniversary of the LA date (September 29, 2024)	$20,000 (paid)	$20,000 (incurred)
       On the second anniversary of the LA date (September 29, 2025)	$35,000 (paid)	$20,000 (incurred)

       On August 7, 2024, the Company signed an option agreement wherein the Company may acquire up to 100% interest in the Taft property located in British Columbia, Canada. Under the agreement, the Company is granted a sole and exclusive right and option to acquire up to 100% interest in the said property by making the following cash payments and incurring the following exploration expenditures as follows:

       Due date	Cash	Exploration expenditures
       Upon signing of Agreement (August 7, 2024)	$15,000 (paid)	-
       On or before the 1st anniversary (August 7, 2025)	$15,000	$60,000
       On or before the 2nd anniversary (August 7, 2026)	$20,000	$60,000
       On or before the 3rd anniversary (August 7, 2027)	$20,000	$60,000
       On or before the 4th anniversary (August 7, 2028)	$25,000	$60,000
       On or before the final anniversary (August 7, 2029)	$30,000	$80,000

       During the year ended September 30, 2025, the Company decided not to continue with further exploration of the Taft project and chose to cancel the agreement and write off all costs incurred related to this project in the amount of $103,599.

       The Company also has a 100% ownership interest in Revel project which was acquired through staking.

2. Accounts payable and accrued liabilities

   Accounts payable and accrued liabilities consist of payables to vendors. The breakdowns of accounts payable and accrued liabilities are as follows:

   December 31,

   2025

   September 30,

   2025

   Payables to vendors $ 217,174 $ 221,238

3. Exploration advances / (Exploration advances receivable)

   Exploration advances / (receivable) are related to Union projects. Refer to Note 9 for further details.

   December 31,

   2025

   September 30,

   2025

   Exploration advances / (receivable) ($ 281,234) $ 34,844

   Exploration Option Agreement with Questcorp

   During the period ended December 31, 2025, the Company has a total exploration advances receivable from Questcorp for

   $281,234 related to the cost incurred for Union project, which were subsequently collected (Note 19).

   On May 27, 2025, the Company received $157,600 as exploration advances from Questcorp for the initial stage of exploration activities of Union project. On July 21, 2025, the Company received another $500,000 from Questcorp Mining Inc. for the continuation of the exploration activities of Union project.

   Subsequent to the period ended December 31, 2025, on January 5, 2026, the Company received another $350,000 from Questcorp for the continuation of the exploration activities of Union project.

4. Capital stock and reserves

   The authorized capital stock of the Company consists of an unlimited number of common and preferred voting shares without nominal or par value.

   Issued and outstanding

   Shares issued for the three months ended December 31, 2025

   On November 28, 2025, the Company completed a non-brokered private placement and issued 18,460,000 common shares at a price of $0.20 per share for gross proceeds of $3,692,000. Each unit comprised of one common share and one half of common share purchase warrant each exercisable at $0.30 per common share until November 28, 2027. During the period ended December 31, 2025, $25,000 of the total gross proceeds was presented as subscription receivable which were subsequently received.

   Shares issued for the three months ended December 31, 2024

   There were no shares issued for the three months ended December 31, 2024.

   Share purchase and finders' warrants

   The activity and weighted average prices of warrants are as follows:

   	Number of warrants	Weighted average exercise price
   Outstanding warrants, September 30, 2024 and 2025	-	$ -
   Issued	9,230,000	0.30
   Outstanding warrants, December 31, 2025	9,230,000	$ 0.30

   As at December 31, 2025, the following share purchase warrants were outstanding and exercisable:

   Expiry date Number of warrants outstanding Weighted average remaining life in years Exercise price

   November 28, 2025 9,230,000 1.91 $ 0.30

   Bonus share plan

   The Company has a bonus share plan ("Bonus Plan") that enables the directors to approve the issuance of bonus shares to employees, officers, directors, and consultants of the Company. The Bonus Plan puts the number of bonus shares that may be issued under the Bonus Plan to be 400,000 common shares per year. During the period ended December 31, 2025, $nil bonus shares (September 30, 2025 - $nil) were issued under this plan.

   Stock options

   The Company has established a rolling stock option plan ("Option Plan") enabling the directors to grant options to employees, officers, directors, and consultants of the Company. From time to time, shares may be reserved by the Board, in its discretion, for options under the Option Plan, provided that the total number of shares reserved for issuance by the Board shall not exceed 10% of the issued and outstanding listed shares (on a non-diluted basis) less that portion of the 400,000 that may be issued as bonus shares that have not been so issued as at the date of grant. Options are non-assignable and may be granted for a term not exceeding that permitted by the Exchange, currently ten years. All stock options issued are subject to vesting terms. Options issued to directors, vest in the amount of 33% every six months from the date of grant; and options issued to officers and/or consultants vest between 12 and 24 months depending on date of grant and nature of service. The exercise price of each option equals the market price, minimum price, or discounted market price of the Company's shares as calculated on the date of grant.

   Share-based payments relating to options vested during the period ended December 31, 2025, using the Black-Scholes option pricing model was $14,887 (December 31, 2024 - $13,406).

   The number and weighted average exercise prices of the stock options are as follows:

   	Number of options	Weighted average exercise price
   Outstanding options, September 30, 2024	3,790,000	$ 0.14
   Expired	(665,000)	$ 0.11
   Granted	1,450,000	$ 0.08
   Forfeited	(50,000)	$ 0.08
   Cancelled	(115,000)	$ 0.13
   Outstanding options, September 30, 2025	4,410,000	$ 0.09
   Expired	(305,000)	$ 0.18
   Outstanding options, December 31, 2025	4,105,000	$ 0.08

   On February 4, 2025, the Company granted 1,450,000 incentive stock options to certain directors, officers, and consultants of the Company. The options are exercisable at $0.13 per share (pre-modification) for a period of five years from the date of grant. Options granted to individuals in their capacity as a director vest in three equal instalments over 18 months and options granted to officers and consultants vest in four equal instalments over 12 months.

   During the period ended December 31, 2025, 305,000 stock options (September 30, 2025 - 665,000) expired unexercised. As at December 31, 2025, the Company has outstanding stock options exercisable as follows:

   Expiry date	Number of options outstanding	Remaining life in years	Exercise Price*	Number of options exercisable
   November 17, 2026	635,000	0.88	$ 0.10	635,000
   September 2, 2027	660,000	1.67	$ 0.08	660,000
   January 17, 2029	1,410,000	3.05	$ 0.07	1,410,000
   February 4, 2030	1,400,000	4.10	$ 0.08	945,833
   	4,105,000			3,650,833

   *According to the Arrangement with Blue Jay on May 22, 2025, each Riverside Option was exchanged for one Riverside Replacement Option to acquire one New Riverside Share with an amended exercise price. As a result, the above exercise prices reflect in the new Riverside Replacement Option prices.

5. Related party transactions

   The Company had the following transactions with related parties:

   Payee / Payer	Nature of transactions	Period ending December 31,	Fees ($)	Amount payable at period end ($)
   Arriva Management Inc.	Management and consulting fees (i)	2025 2024	71,250 57,300	$10,134 Nil
   GSBC Financial Management Inc.	Management and consulting fees (i)	2025 2024	24,000 24,000	Nil Nil
   FT Management Inc.	Management and consulting fees (i) and Rent (ii)	2025 2024	44,400 44,400	Nil Nil
   Omni Resource Consulting Ltd.	Consulting fees (i)	2025 2024	16,700 40,000	$5,637 Nil
   Bryan Wilson	Director fees	2025 2024	3,000 3,000	Nil Nil
   James Ladner	Director fees	2025 2024	3,000 3,000	Nil Nil
   Walter Henry	Director fees	2025 2024	3,000 3,000	Nil Nil

   The remuneration of related parties during the three months ended December 31 are as follows:

   2025 2024

   Directors' fees $ 9,000 $ 9,000

   Management and consulting fees (i) 156,350 165,700

   Share-based payments 8,881 12,467

   $ 174,231 $ 187,167

   1. Management and consulting fees of the key management personnel for the three months ended December 31, 2025, were allocated as follows: $56,850 (2024 - $56,850) expensed to consulting fees, $64,950 (2024 - $79,900) capitalized to exploration and evaluation assets and $20,000 (2024 - $14,400) capitalized to exploration work performed for alliances that will be reimbursed.

   2. During the three months ended December 31, 2025, the Company incurred rent expense of $14,550 (2024 - $14,550) for shared office spaces with FT Management Inc., a company controlled by spouses of officers of the Company.

6. Segmented information

   The Company operates in one business segment, the exploration of exploration and evaluation assets and prospect generation. The Company's exploration activities are centralized whereby management of the Company is responsible for business results and the everyday decision-making. Geographical information is as follows:

   	December 31, 2025	September 30, 2025
   Equipment Canada	$ 1,568	$ 1,654
   Mexico	93,830 47,553
   Exploration and evaluation assets	95,398	49,207
   Canada	777,424	757,838
   Mexico	4,298,112 4,083,269
   	5,075,536	4,841,107
   Total	$ 5,170,934	$ 4,890,314

7. Supplemental disclosure with respect to cash flows

   December 31,		September 30,
   2025		2025
   Cash	$ 5,743,672	$ 3,279,006
   Cash equivalents	151,726	150,855
   	$ 5,895,398	$ 3,429,861

   The significant non-cash transactions for the three months ended December 31, 2025, were as follows:

   1. Included in the accounts payable was $15,771 in exploration and evaluation asset expenditures.

   2. The Company received 250,000 Blue Jay shares valued at $150,000 which was recognized as short-term investment (see Note 5).

   The significant non-cash transactions for the three months ended December 31, 2024, were as follow:

   1. Included in the accounts payable was $11,047 in exploration and evaluation asset expenditures.

8. Capital management

   The Company manages its capital structure and adjusts it, based on the funds available to the Company, to support the acquisition and exploration of exploration and evaluation assets. In the management of capital, the Company includes components of shareholders' equity. The Board of Directors does not establish quantitative return on capital criteria for management but rather relies on the expertise of the Company's management to sustain future development of the business. The properties in which the Company currently has an interest are in the exploration stage as such the Company is dependent on external financing to fund activities. To carry out planned exploration and pay for administrative costs, the Company will spend its existing working capital and raise additional funds as needed. The Company will continue to assess new properties and seek to acquire an interest in additional properties if it feels there is sufficient geologic or economic potential and if it has adequate financial resources to do so. The Company is not currently subject to externally imposed capital requirements.

   There were no changes in the Company's approach to capital management during the three months ended December 31, 2025.

9. Financial instruments

   Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are:

   Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities.

   Level 2 - Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and Level 3 - Inputs that are not based on observable market data.

   The fair value of the Company's cash and cash equivalents, receivables, and accounts payable and accrued liabilities approximate carrying value, which is the amount recorded on the statements of financial position. The fair value of the Company's public company short-term investments is based on level 1 quoted prices in active markets for identical assets and liabilities. Financial instruments valued at level 3 inputs consist of the Company's private company investments. The key assumptions driving the valuation of the private company short-term investments include but are not limited to the value of completed financings by the investee.

   The Company's risk exposures and the impact on the Company's financial instruments are summarized below:

   Credit risk

   Credit risk is the risk of loss associated with a counterparty's inability to fulfill its payment obligations. The Company's cash and cash equivalents are held with major financial institutions in Canada and Mexico which management believes the risk of loss to be remote. Receivables consist of tax refunds from the Federal Government of Canada and Mexico, in which regular collection occurs. The Company believes its credit risk is equal to the carrying value of this balance.

   Liquidity risk

   The Company's approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at December 31, 2025, the Company had cash and cash equivalents of $5,895,398 to settle current liabilities of

   $1,470,649. The Company believes it has sufficient funds to meet its current liabilities as they become due.

   Interest rate risk

   The Company has interest-bearing cash balances. The interest earned on cash balances approximates fair value rates, and the Company is not at significant risk to fluctuating interest rates. The Company's current policy is to invest excess cash in investment-grade short-term deposit certificates issued by its banking institutions. The Company periodically monitors the investments it makes and is satisfied with the credit ratings of its banks. As of December 31, 2025, the Company had investments in short-term deposit certificates of $23,000.

   Price risk

   The Company is exposed to price risk with respect to commodity and equity prices. Equity price risk is defined as the potential adverse impact on the Company's earnings due to movements in individual equity prices or general movements in the level of the stock market. Commodity price risk is defined as the potential adverse impact on profit or loss and economic value due to commodity price movements and volatilities. The Company closely monitors commodity prices of gold, silver and copper, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company.

   The Company currently maintains short-term investments, which include marketable securities (Note 5). There can be no assurance that the Company can exit these positions if required, resulting in proceeds approximating the carrying value of these securities.

   Foreign currency risk

   The Company is exposed to foreign currency risk on fluctuations related to cash and cash equivalents, receivables, and accounts payable and accrued liabilities that are denominated in US dollars (US) and Mexican pesos.

   Sensitivity analysis

   The Company operates in Mexico and is exposed to risk from changes in the US dollar and the Mexican peso. A simultaneous 10% fluctuation in the US dollar and Mexican peso against the Canadian dollar would affect loss for the period by $290,336.

   The Company holds marketable securities and is exposed to risk from changes in the share price of the marketable securities. A simultaneous 5% fluctuation in share prices would affect short-term investments and loss for the period by approximately

   $43,963.

10. Mexico tax liability

    During the year ended September 30, 2019, the Company received a final verdict of a lawsuit against the Government of Mexico. The funds provided by the Company to its wholly owned subsidiary Riverside Resources Mexico S.A. de C.V. ("RRM") in fiscal 2010 were deemed to be income. The Mexican tax authority passed a decision to impose a lien on RRM's assets and a tax penalty of $1,131,026 (MXN16,445,464) on RRM. Accordingly, the Company recorded a tax penalty totaling

    $1,131,026. The Mexican tax authority has not enforced the lien, and the lien does not impede RRM's ability to carry out its business operations.

    As at December 31, 2025, the Company adjusted the provisional liability to $1,253,475 (September 30, 2025 - $1,248,375) as a result of the foreign exchange movement.

11. Subsequent events

On January 5, 2026, the Company received another $350,000 from Questcorp Mining Inc. for the continuation of the exploration activities of Union project.

On February 18, 2026, the Company entered into an option agreement with 1575540 B.C. Ltd. ("1575540") whereby 1575540 could acquire a 100% interest in the Revel property, by making the following cash payments and incurring a minimum work commitment on exploration expenditures, while retaining a 3.0% NSR. The transaction details as below: