SEDAR Interim Financial Statements

Triple One Metals Inc. CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED FEBRUARY 28, 2026 and 2025 (UNAUDITED) (Expressed in Canadian Dollars) Notice of No Auditor Review of Interim Financial Statements The accompanying unaudited condensed interim financial statements have been prepared by management and approved by the Audit Committee. Under National Instrument 51-102, Part 4, subsection 4.3(3) (a), if an auditor has not performed a review of the condensed interim financial statements, they must be accompanied by a notice indicating the financial statements have not been reviewed by an auditor. The accompanying notes are an integral part of these condensed interim financial statements 4 Triple One Metals Inc. Condensed Interim Statements of Financial Position (Expressed in Canadian dollars) Note February 28, 2026 (Unaudited) November 30, 2025 (Audited) $ $ ASSETS Current assets Cash 199,299 316,442 Amounts receivable 19,817 9,034 219,116 325,476 Prepaid expenses and deposits 46,300 46,300 Exploration and evaluation assets 6 849,511 819,511 1,114,927 1,191,287 LIABILITIES Current liabilities Accounts payable and accrued liabilities 8 1,250,512 1,238,234 Advance payable 15,000 15,000 1,265,512 1,253,234 DEFICIENCY Share capital 7 2,464,847 2,464,847 Contributed surplus 7 788,861 788,861 Deficit (3,404,293) (3,315,655) (150,584) (61,947) 1,114,927 1,191,287 Nature of business and going concern – Note 1 Commitments and contingencies – Note 10 Approved and authorized for issue on behalf of the Board on April 23, 2026: “Paul Smith” “Paul Gill” Director Director The accompanying notes are an integral part of these condensed interim financial statements 5 Triple One Metals Inc. Condensed Interim Statements of Comprehensive Loss For the three months ended February 28, 2026 and 2025 (Expressed in Canadian dollars) (Unaudited) Note 2026 2025 $ $ Expenses Consulting - 540 Legal fees 1,008 12,488 Management fees 8 54,000 54,000 Office and miscellaneous 16,370 18,274 Professional fee 7,609 12,900 Transfer agent and filing 3,926 2,252 Net loss before other items (82,912) (100,454) Other items Interest expense (5,726) (5,726) Net loss and comprehensive loss (88,638) (106,180) Loss per share – basic and diluted (0.00) (0.00) Weighted average number of common shares outstanding 118,173,045 57,691,236 The accompanying notes are an integral part of these condensed interim financial statements 6 Condensed Interim Statement of Changes in Equity For the three months ended February 28, 2026 and 2025 (Expressed in Canadian dollars) (Unaudited) Common Shares Contributed Surplus Deficit Total # $ $ $ $ Balance, November 30, 2024 48,237,630 1,680,717 729,952 (2,738,103) (327,434) Issuance of common shares for cash 23,189,087 255,080 - - 255,080 Shares issued for property 5,930,001 59,300 58,909 - 118,209 Net loss and comprehensive loss - - - (106,180) (106,180) Balance, February 28, 2025 77,356,718 1,995,097 788,861 (2,844,283) (60,325) Balance, November 30, 2025 118,173,045 2,464,847 788,861 (3,315,655) (61,947) Net loss and comprehensive loss - - - (88,638) (88,638) Balance, February 28, 2026 118,173,045 2,464,847 788,861 (3,404,293) (150,584) The accompanying notes are an integral part of these financial statements 7 Triple One Metals Inc. Condensed Interim Statements of Cash Flows For the three months ended February 28, 2026 and 2025 (Expressed in Canadian dollars) (Unaudited) 2026 2025 $ $ Cash used in operating activities Net loss for the p --- eriod (88,638) (106,180) Net change in non-cash working capital balances related to operations: Amounts receivable (10,783) (5,518 Amounts payable and accrued liabilities 12,278 (111,494) (87,143) (223,192) Cash provided by (used in) investing activities Exploration and evaluation expenditures (30,000) - (30,000) -) Cash provided by (used in) investing activities Shares issued for cash - 255,080 - 255,080 Change in cash (117,144) 31,888 Cash, beginning of period 316,442 4,006 Cash, end of period 199,299 35,894 Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 8 NOTE 1 – NATURE OF BUSINESS AND GOING CONCERN Triple One Metals Inc. (the “Company”) was incorporated under the Business Corporations Act of British Columbia on June 7, 2018 as 1167343 B.C. Ltd. On May 14, 2020, the Company changed its name to Mountain Lake Minerals Inc. On May 4, 2021, the Company changed its name to MLK Gold Ltd, and on April 14, 2023, the Company changed its name to Triple One Metals Inc. The address of the Company’s head office and registered office is 2040 Cullin Road, Shawnigan Lake, BC, V0R 2W1, CANADA. The Company is a junior exploration company exploring for precious and base metal deposits. The Company’s current projects are located in the province of Newfoundland and Labrador in Canada (Note 6). These condensed interim financial statements have been prepared on the basis of accounting principles applicable to a going concern, which presumes that the Company will realize its assets and discharge its liabilities in the normal course of business for at least the next 12 months. The Company has experienced losses and negative cash flow from operations since incorporation. As at February 28, 2026, the Company had not yet generated revenues and had an accumulated deficit of $3,404,293 and working capital deficiency of $1,046,396. The Company’s ability to continue as a going concern and to realize the carrying value of its assets and discharge its liabilities when due is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain necessary financing to complete their development, and future profitable production or proceeds from the disposition of its resource property interests. The timing and availability of additional financing will be determined largely by the performance of the Company and market conditions and there is no certainty that the Company will be able to raise funds as they are required in the future. These factors indicate the existence of a material uncertainty that may cast significant doubt about the Company’s ability to continue as a going concern. These condensed interim financial statements do not reflect adjustments that would be necessary if the going concern assumption were not appropriate. If the going concern basis was not appropriate for these condensed interim financial statements, then adjustments would be necessary to reflect these financial statements on a liquidation basis which could differ from accounting principles applicable to a going concern. NOTE 2 – BASIS OF PRESENTATION a) Statement of compliance These condensed interim financial statements have been prepared in accordance with IFRS Accounting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). These condensed interim financial statements were authorized f --- or issue by the Board of Directors on April 23, 2026. b) Basis of measurement These condensed interim financial statements have been prepared on the historical cost basis, except for financial instruments which are measured at fair value, as explained in the accounting policies set out below. In addition, these condensed interim financial statements have been prepared using the accrual basis of accounting, except for cash flow information. The accounting policies set out below have been applied consistently to all years presented in These condensed interim financial statements. c) Functional and presentation currency These condensed interim financial statements are presented in Canadian dollars which is the Company's functional and presentation currency. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 9 NOTE 3 – MATERIAL ACCOUNTING POLICIES a) Use of Estimates and Judgments The preparation of these condensed interim financial statements requires management to make estimates, judgments and assumptions that affect the amounts reported in the financial statements and notes. By their nature, these estimates, judgments and assumptions are subject to measurement uncertainty and affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amount of revenues and expenses. These estimates are based on historical experience, current and future economic conditions, and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The more significant areas are as follows: Significant accounting estimates Decommissioning liabilities Management's assumption that there are currently no decommissioning liabilities is based on the facts and circumstances that existed during the period. Significant accounting judgments The following accounting policies involve judgments or assessments made by management: Exploration and evaluation assets Management is required to apply judgment in determining whether technical feasibility and commercial viability can be demonstrated for the mineral properties. Once technical feasibility and commercial viability of a property can be demonstrated, exploration costs will be reclassified to mineral properties under exploration and subject to different accounting treatment. As at February 28, 2026, management had determined that no reclassification of exploration expenditures was required. Impairment of exploration and evaluation assets Management considers both external and internal sources of information in assessing whether there are any indications that the Company’s exploration and evaluation assets are impaired. External sources of information management consider includes changes in the market, economic and legal environment in which the Company operates that are not within its control and affect the recoverable amount of its mining interests. Internal sources of information management consider include the manner in which exploration and evaluation assets are being used or are expected to be used and indications of economic performance of the assets. In determining the recoverable amounts of the Company’s exploration properties, management makes estimates of the discounted future pre-tax cash flows expected to be derived from --- the Company’s exploration properties, and the appropriate discount rate. Income taxes The assessment of deferred income tax assets and liabilities requires management to make judgments on whether or not the Company’s deferred tax assets are probable to be recovered from future income. Management has determined that the recoverability of the Company’s deferred tax assets is remote due to the history of losses. As a result, no deferred income tax assets have been recognized as at February 28, 2026. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 10 NOTE 3 – MATERIAL ACCOUNTING POLICIES (continued) a) Use of Estimates and Judgments (continued) Going concern The assessment of the Company’s ability to execute its strategy by funding future working capital requirements involves judgement. Management monitors future cash requirements to assess the Company’s ability to meet these future funding requirements. Further information regarding going concern is outlined in Note 1. b) Cash Cash consists of cash on hand and balances with banks. c) Exploration and Evaluation Assets Exploration and evaluation expenditures include the costs of acquiring licenses, costs associated with exploration and evaluation activity, and the fair value (at acquisition date) of exploration and evaluation assets acquired. Exploration and evaluation expenditures are capitalized as incurred. Costs incurred before the Company has obtained the legal rights to explore an area are recognized in profit or loss. Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, which management has determined to be indicated by a feasibility study and a decision to proceed with development, exploration and evaluation assets attributable to that area of interest are first tested for impairment and then reclassified to resource property and development assets. An impairment review of exploration and evaluation assets is performed, either individually or at the cash generating unit level, when there are indicators the carrying amount of the assets may exceed their recoverable amounts. To the extent this occurs, the excess is fully provided against the carrying amount, in the period in which this is determined. Exploration and evaluation assets are reviewed for indicators of impairment on a regular basis and these costs are carried forward provided at least one of the following conditions is met:  such costs are expected to be recovered through successful exploration and development of the area of interest or by its sale; or  exploration and evaluation activities in the area have not yet reached a stage that permits reasonable assessment of the existence or otherwise of economically recoverable reserves, and active and significant operations in relation to the area are either continuing or planned in the future. The Company may occasionally enter into option or royalty arrangements, whereby the Company will transfer part of its mineral properties, as consideration, for an agreement by the transferee to meet certain exploration and evaluation expenditures which would have otherwise been undertaken by the Company. Any cash consideration received from the agreement is credited against the costs previously capitalized to the mineral interest given up by the Company, with any excess --- cash accounted for as a gain on disposal. d) Share Capital The proceeds from the exercise of stock options, warrants and escrow shares are recorded as share capital in the amount for which the option, warrant or escrow share enabled the holder to purchase a share in the Company. Depending on the terms and conditions of each financing agreement, the warrants are exercisable into additional common shares prior to expiry at a price stipulated by the agreement. Warrants that are part of units are accounted for using the residual method, following an allocation of the unit price to the fair value of the common shares that were concurrently issued. Warrants that are issued as payment for an agency fee or other transactions costs are accounted for as share-based payments. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 11 NOTE 3 – MATERIAL ACCOUNTING POLICIES (continued) e) Share Issuance Costs Professional, consulting, regulatory and other costs directly attributable to financing transactions are recorded as deferred financing costs until the financing transactions are completed, if the completion of the transaction is considered likely; otherwise they are expensed as incurred. Share issue costs are charged to share capital when the related shares are issued. Deferred financing costs related to financing transactions that are not completed are expensed. Commissions paid to agents and other related share issue costs are charged directly to share capital. f) Financial Instruments Financial Assets On initial recognition financial assets are classified as measured at: i. Amortized cost; ii. Fair value through profit and loss (“FVTPL”); and iii. Fair value through other comprehensive income (“FVOCI”). Financial assets are not reclassified subsequent to their initial recognition unless the Company changes its business model for managing financial assets in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial asset not at FVTPL, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss. Financial assets are considered in their entirety when determining whether their cash flows are solely payment of principal and interest. Subsequent measurement of financial assets depends on their classification: Amortized cost Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. A gain or loss on a debt investment that is subsequently measured at amortized cost is recognized in profit or loss when the asset is derecognized or impaired. Interest income from these financial assets is included as finance income using the effective interest method. The Company does not have any assets classified at amortized cost. FVOCI Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the reco --- gnition of impairment gains and losses, interest revenue, and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other gains (losses). Interest income from these financial assets is included as finance income using the effective interest method. The Company does not have any assets classified at FVOCI. FVTPL Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVTPL. A gain or loss on an investment that is subsequently measured at FVTPL is recognized in profit or loss and presented net as revenue in the statement of comprehensive loss in the period in which it arises. The Company has classified its cash at FVTPL. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 12 NOTE 3 – MATERIAL ACCOUNTING POLICIES (continued) f) Financial Instruments (continued) Financial Liabilities and Equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangement. An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all of its liabilities. Equity instruments issued by the group entities are recorded at the proceeds received, net of direct issue costs. Financial liabilities are classified as measured at (i) FVTPL; or (ii) amortized cost. FVTPL A financial liability is classified as at FVTPL if it is classified as held-for-trading or is designated as such on initial recognition. Directly attributable transaction costs are recognized in profit or loss as incurred. The amount of change in the fair value that is attributable to changes in the credit risk of the liability is presented in OCI and the remaining amount of the change in the fair value is presented in profit or loss. The Company does not classify any financial liabilities at FVTPL. Amortized cost Other non-derivative financial liabilities are initially measured at fair value less any directly attributable transaction costs. Subsequent to initial recognition, these liabilities are measured at amortized cost using the effective interest method. The Company classifies its accounts payable and advance payable at amortized cost. A financial liability is derecognized when the contractual obligation under the liability is discharged, cancelled or expires or its terms are modified and the cash flows of the modified liability are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Impairment of financial assets At each reporting date the Company assesses whether there is any objective evidence that a financial asset or a group of financial assets is impaired. A financial asset or group of financial assets is deemed to be impaired, if, and only if, there is objective evidence of impairment as a result of one or more events that has occurred after the initial recognition of the asset and that event has an impact on the estimated future cash flows of the financial asset or the group of financial assets. g) Share‐based Payments Equity‐settled share‐based payments to employees and others providing similar services are measured at fair value of the equit --- y instruments at the date of grant. Fair value is measured using the Black‐Scholes option pricing model. The fair value determined at the grant date of the equity‐settled share‐based payments is expensed as services are rendered over the vesting period, based on the Company’s estimate of the shares that will eventually vest and adjusted for the effect of non‐market‐based vesting conditions. For share‐based payment awards with non‐vesting conditions, the grant date fair value of the share‐based payment is measured to reflect such conditions and there is no‐true‐up for differences between expected and actual outcomes. Equity‐settled share‐based payment transactions with parties other than employees and those providing similar services are measured at the fair value of the goods or services received, except where that fair value cannot be estimated reliably, in which case they are measured at the fair value of the equity instruments granted, measured at the date the entity obtains the goods or the counterparty renders the service. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 13 NOTE 3 – MATERIAL ACCOUNTING POLICIES (continued) h) Income Taxes Income tax on profit or loss consists of current and deferred tax. Income tax expense is recognized in profit or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period end, adjusted for amendments to tax payable with regards to previous years. Deferred tax assets and liabilities are recognized for differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the enacted or substantively enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that substantive enactment occurs. A deferred tax asset would be recognized to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. To the extent that the Company does not consider it probable that a deferred tax asset will be recovered, the deferred tax asset is reduced. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. i) Basic and Diluted Earnings (loss) per Share Basic earnings (loss) per share is computed by dividing the net income (loss) attributable to common shareholders by the weighted average number of shares outstanding during the year. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds --- from such exercises were used to acquire common stock at the average market price during the reporting periods. j) Decommissioning Liabilities A legal or constructive obligation to incur restoration, rehabilitation and environmental costs may arise when environmental disturbance is caused by the exploration, development or ongoing production of a mineral property interest. Such costs arising from the decommissioning of plant and other site preparation work, discounted to their net present value, are provided for and capitalized at the start of each project to the carrying amount of the asset, as soon as the obligation to incur such costs arises. A pre‐tax discount rate that reflects the time value of money and the risks specific to the liability are used to calculate the net present value of the expected future cash flows. These costs are charged to the statement of loss over the economic life of the related asset, through depreciation expense using either the unit‐of‐production or the straight‐line method as appropriate. The related liability is progressively increased each period as the effect of discounting unwinds, creating an expense recognized in the statement of comprehensive loss. The liability is assessed at each reporting date for changes to the current market‐based discount rate, and the amount or timing of the underlying cash flows needed to settle the obligation. Costs for restoration of subsequent site damage which is created on an ongoing basis during production are provided for at their net present values and charged against profits as extraction progresses. The Company has no material restoration, rehabilitation and environmental costs as the disturbance to date is minimal. k) Provisions A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre‐tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognized as a finance expense. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 14 NOTE 3 – MATERIAL ACCOUNTING POLICIES (continued) k) Provisions (continued) Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of economic benefits will be required, the provision is reversed. The Company presently does not have any amounts considered to be provisions. NOTE 4 – ACCOUNTING STANDARDS AND AMENDMENTS ISSUED BUT NOT YET ADOPTED Certain new standards, interpretations, amendments and improvements to existing standards were issued by the IASB that are mandatory for accounting periods beginning on or after December 1, 2025. The Company does not expect that any new or amended standards or interpretations that are effective for annual periods beginning on or after December 1, 2025 will have a significant impact on the Company’s results of operations or financial position. IFRS 18 Presentation and Disclosure in the Financial Statements In April 2024, the IASB issued a new IFRS accounting standard to improve the reporting of financial performance. IFRS 18 --- Presentation and Disclosure in the Financial Statements replaces IAS 1 Presentation of Financial Statements. The standards will become effective January 1, 2027, with early adoption permitted. The Company is in the process of assessing the impact of these new standards on the Company’s financial statements. NOTE 5 – FINANCIAL INSTRUMENTS The Company’s financial instruments are categorized in a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and Level 3 - inputs for the asset or liability that are not based on observable market data (unobservable inputs). The Company’s financial instruments include cash, accounts payable and notes payable. The fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. Assets measured at fair value on a recurring basis were presented on the Company’s statements of financial position as of February 28, 2026 and November 30,2025, as follows: Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant For Identical Observable Unobservable Instruments Inputs Inputs (Level 1) (Level 2) (Level 3) Total $ $ $ $ February 28, 2026 Cash 199,299 – – 199,299 November 30, 2025 Cash 316,442 – – 316,442 Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 15 NOTE 5 – FINANCIAL INSTRUMENTS (continued) Credit risk The Company has no significant credit risk arising from operations. The Company does not engage in any sales activities, so is not exposed to major credit risks attributable to customers. The Company’s credit risk is primarily attributable to cash. The Company holds its cash with Canadian chartered banks and the risk of default is considered to be remote. Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due (Note 1). The Company’s amounts payable and notes payable are due on demand. The Company’s liquidity and operating results may be adversely affected if the Company’s access to the capital markets is hindered, whether as a result of stock market conditions generally or as a result of conditions specific to the Company. The Company’s approach to managing liquidity risk is to ensure it will have sufficient liquidity to meet liabilities when due. As at February 28, 2026, the Company has cash of $199,299 to settle current liabilities of $1,265,512. Interest rate risk Interest rate risk is the risk that future cash flows of the Company’s assets and liabilities can change due to a change in interest rates. The Company is not exposed to interest rate risk as no financial instruments are interest-bearing. It is management's opinion that the Company is not exposed to significant interest, currency or credit risk arising from the financial statements. NOTE 6 – EXPLORATION AND EVALUATION ASSETS Newfoundland and Labrador Quebec Total $ $ $ Acquisition Costs Balance, November 30, 2024 463,303 463,303 Additions - 118,209 118,209 Impairment - (1 --- 18,209) (118,209) Balance, November 30, 2025 and February 28, 2026 463,303 - 463,303 Exploration Costs Balance, November 30, 2024 322,123 - 322,123 Additions 34,085 - 34,085 Balance, November 30, 2025 356,208 - 356,208 Additions 30,000 30,000 Balance, February 28, 2026 386,208 - 386,208 Balance, February 28, 2026 849,511 - 849,511 Balance, November 30, 2025 819,511 - 819,511 Newfoundland and Labrador (Caledonia Brook Properties) The Caledonia Brook Properties consist of two adjacent blocks, Caledonia-1 to the south and Caledonia-2 to the north. Caledonia-1 Property The Caledonia-1 property currently consists of 53 mineral claims in two licenses. The Caledonia-1 Property is subject to a net smelter returns royalty (“NSR”) of 1.5% of net smelter returns royalty. The Company can purchase 1% of the NSR for $1,500,000 at any time. Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 16 NOTE 6 – EXPLORATION AND EVALUATION ASSETS (continued) Caledonia-2 Property The Caledonia-2 property currently consists of 231 mineral claims in 5 licenses and is subject to a net smelter returns royalty (“NSR”) of 0.5% to 1.0% of commercial production. The Company can purchase 0.5% of the NSR for $250,000 at any time. Furthermore, the Company also committed to issuing certain number of performance warrants dependent on results of geological surveys which have not yet been conducted. Quebec Portsmouth property On December 13, 2024, the Company executed a purchase agreement with Portsmouth Gold Corp., a private British Columbia company, and acquired 24 mineral claims representing approximately 1,200 hectares located in the Urban-Barry greenstone belt in the James Bay region of Quebec. The property was acquired for consideration of 5,930,001 units with a total fair value of $118,209 and is subject to a 2% net smelter return (“NSR”) royalty pursuant to an underlying agreement. Each unit consists of one common share of the Company and one warrant exercisable at $0.10 for a period of two years. The Company’s current Chief Executive Officer (“CEO”) was a related party of Portsmouth Gold Corp. at the time the letter of intent was signed in 2023 although he was not acting as a CEO of the Company that that time. He was appointed as CEO of the Company in December 2023, at which point Portsmouth Gold Corp. became a related party of the Company. Accordingly, Portsmouth Gold Corp. was a related party at the time the purchase agreement was executed in 2024. During the year, management determined that it would not pursue further exploration activities on the property. As a result, the Company recognized an impairment loss of $118,209, reducing the carrying value of the mineral property to $Nil. NOTE 7 – SHARE CAPITAL Common shares Authorized The Company’s authorized capital consists of an unlimited numbers of common shares without par value. As of February 28, 2026, there were 118,173,045 (November 30, 2025 – 118,173,045) issued and outstanding common shares. Issued and outstanding : The Company issued the following shares during the year ended of November 30, 2025: On December 13, 2024, the Company issued 5,930,001 units pursuant to the Portsmouth property purchase agreement (Note 6). The fair value attributed to the common shares issued is $59,300 and the fair value attributed to the warrants issued is $58,909. The warrants were valued using --- the following Black-Scholes option pricing model using the following weighted average assumptions: 2025 Risk-free interest rate 2.96% Dividend yield 0% Expected volatility 383% Expected life (years) 2 Forfeiture rate 0% Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 17 NOTE 7 – SHARE CAPITAL (continued) On February 13, 2025, the Company completed a private placement and issued 23,189,087 common shares for gross proceeds of $255,080 at $ 0.011 per share. The Company incurred legal fees of $6,825 in connection with the offering. Each unit consists of one common share of the Company and one warrant exercisable at $0.10 for a period of two years. On August 20, 2025, the Company completed a private placement and issued 40,816,327 common shares for gross proceeds of $500,000 at $0.01225 per share. The Company paid cash finders’ fees totaling $12,863 and incurred legal fees of $10,562 in connection with the offering. Stock options The Company has a stock option plan (the “Plan) which provides that the number of options granted may not exceed 10% of the issued and outstanding shares. Options granted under the Plan generally have a five-year term and are granted at a price no lower than the market price of the common shares at the time of the grant. A summary of the Company’s stock options activity for the period ended of February 28, 2026 is as follows: Number of options Weighted Average Exercise Price $ Outstanding, November 30, 2024 and 2023 900,000 0.07 Issued - - Cancelled - - Outstanding, November 30, 2025 and of February 28, 2026 900,000 0.07 The following is a summary of stock options outstanding as at of February 28, 2026: Number of stock options Exercise Price Expiry date 900,000 $0.07 October 26, 2026 Warrants A summary of the Company’s warrant activity for the period ended of February 28, 2026 is as follows: Number of warrants Weighted Average Exercise Price $ Outstanding, November 30, 2024 and 2023 - - Issued 5,930,001 0.10 Outstanding, November 30, 2025 and of February 28, 2026 5,930,001 0.10 The following is a summary of warrants outstanding as at of February 28, 2026: Number of warrants Exercise Price Expiry date 5,930,001 $0.10 December 13, 2026 Triple One Metals Inc. Notes to the Condensed Interim Financial Statements For the three months ended February 28, 2026 and February 28, 2025 (Expressed in Canadian dollars) (Unaudited) 18 NOTE 8 – RELATED PARTY TRANSACTIONS AND BALANCES Payments to key management personnel including the Chief Executive Officer, Chief Financial Officer, Directors and companies directly controlled by key management personnel are for salaries, consulting fees, management fees, or professional fees and are directly related to their position in the Company or to services provided to the Company. The Company incurred the following costs from its key management personnel and related parties for the period ended of February 28, 2026 and 2025: 2026 2025 $ $ Management fees 54,000 54,000 As at of February 28, 2026, the Company had accounts payable totaling $809,116 (November 30, 2025 - $756,008) to certain directors and officers of the Company. The amounts payable are unsecured, non-interest bearing and payable on demand. NOTE 9 – CAPITAL MANAGEMENT The Company’s objective when managing capital is to maintain adequate levels of funding to support the acquisition and exploratio --- n of mineral properties and maintain the necessary corporate and administrative functions to facilitate these activities. As at of February 28, 2026, the Company had a working capital deficiency of $1,046,396 (November 30, 2025 - $927,758). The properties in which the Company currently has an interest are in the exploration stage; as such, the Company is dependent on external financing, primarily equity financing, to fund its activities. There can be no assurance that the Company will be able to continue to raise capital in this manner. To carry out the planned exploration and fund administrative costs, the Company will utilize its existing working capital and raise additional amounts as needed. The Company will continue to assess new properties and business opportunities and seek to acquire an interest in additional properties or businesses if it believes there is sufficient geologic and economic potential and if it has adequate financial resources to do so. The Company generally invests all capital that is surplus to its immediate operational needs in short-term, highly-liquid financial instruments, such as cashable guaranteed investment certificates, held with a major Canadian financial institution. There were no changes to the Company’s approach to capital management during the year. The Company is not subject to externally imposed capital requirements. NOTE 10 – COMMITMENTS AND CONTINGENCIES Commitment The Company’s exploration and evaluation assets are subject to exploration expenditures and NSR. Refer to Note 6 for further details. Contingencies The Company is a defendant in a legal action initiated by a counterparty. The counterparty asserts that the Company owes it $127,240 for services performed in 2018, plus interest and reimbursement of other costs, which the Company disputes. The Company has recorded $301,759 within accounts payable and accrued liabilities as at of February 28, 2026 (November 30, 2025 - $296,033), which includes accrued interest of $5,726 recorded during the period ended of February 28, 2026.