SEDAR Interim Financial Statements

[
  {
    "companyName": "IRVING RESOURCES INC.",
    "reportingPeriodEnd": "2025-11-30",
    "reportStatus": "Unaudited",
    "auditorName": null,
    "auditorKeyMatters": [],
    "balanceSheet": {
      "cash": 1901095,
      "receivables": 356822,
      "prepaids": 132963,
      "totalCurrentAssets": 2390880,
      "nonCurrentPrepaids": 38171,
      "propertyAndEquipment": 1718998,
      "investmentInAssociate": 2255150,
      "explorationAndEvaluationAssets": 40284530,
      "totalAssets": 46687729,
      "accountsPayableAndAccruedLiabilities": 243035,
      "advanceFromOptionPartner": 12014,
      "leaseLiabilitiesCurrent": 77484,
      "totalCurrentLiabilities": 332533,
      "leaseLiabilitiesNonCurrent": 23397,
      "totalLiabilities": 355930,
      "shareCapital": 62708680,
      "reserves": 10172692,
      "accumulatedDeficit": -26549573,
      "totalShareholdersEquity": 46331799,
      "cashPerShare": 0.0235,
      "workingCapitalPerShare": 0.0254
    },
    "incomeStatement": {
      "consultingFees": 451940,
      "depreciation": 124763,
      "directorsFees": 3000,
      "foreignExchangeLoss": 164063,
      "insurance": 27457,
      "interestExpenseOnLeaseLiabilities": 10669,
      "investorRelations": 65585,
      "managementFees": 54000,
      "officeAndMiscellaneous": 45434,
      "professionalFees": 312332,
      "regulatoryFees": 54404,
      "salariesAndBenefits": 3514,
      "shareholderCosts": 9631,
      "shareBasedCompensation": 94744,
      "telephone": 5869,
      "transferAgent": 21918,
      "travelAndPromotion": 123160,
      "operatingExpenses": -1572483,
      "gainLossOnDisposalOfAssets": -7702,
      "interestIncome": 5085,
      "otherIncome": 661273,
      "recoveryWriteOffOfExplorationAndEvaluationAssets": 5558,
      "totalOtherIncome": 664214,
      "lossAndComprehensiveLoss": -908269,
      "basicAndDilutedLossPerCommonShare": -0.01,
      "basicAndDilutedWeightedAverageNumberOfCommonSharesOutstanding": 80980476
    },
    "cashFlowStatement": {
      "lossForThePeriod": -908269,
      "depreciation": 124763,
      "interestExpenseOnLeaseLiabilities": 10669,
      "shareBasedCompensation": 94744,
      "recoveryOfExplorationAndEvaluationAssets": -5558,
      "foreignExchange": null,
      "changeInReceivables": 405784,
      "changeInPrepaids": 46276,
      "changeInAccountsPayableAndAccruedLiabilities": -170764,
      "advancesFromJvPartners": null,
      "netCashUsedInOperatingActivities": -402355,
      "commonSharesIssued": 1333000,
      "shareIssuanceCosts": -27093,
      "paymentOfLeaseLiabilities": -110729,
      "netCashProvidedByFinancingActivities": 1195178,
      "explorationAndEvaluationAssetsNetOfRecoveries": -426246,
      "acquisitionOfEquipment": -16910,
      "investmentInAssociate": -1540258,
      "netCashUsedInInvestingActivities": -1983414,
      "effectOfForeignExchangeOnCash": 4330,
      "changeInCashDuringThePeriod": -1186261,
      "cashBeginningOfThePeriod": 3087356,
      "cashEndOfThePeriod": 1901095
    },
    "investmentsAndOtherAssets": [
      {
        "type": "Investment in Associate",
        "description": "Joint venture company (Yamagano JV GK) formed with Newmont and Sumitomo for exploration of Yamagano and Noto properties",
        "ownershipPercentage": 27.5,
        "value": 2255150,
        "notes": "Initial investment of ¥236,819,241 ($2,255,150). The Company has significant influence and serves as initial manager."
      },
      {
        "type": "Mineral Properties",
        "description": "Exploration and evaluation assets, primarily the Omu Property in Japan and other properties",
        "ownershipPercentage": 100,
        "value": 40284530,
        "notes": "Omu Property: 100% interest in mining right (subject to farm-in agreement with JX Metals). Other properties: various mineral prospecting licenses in Japan."
      }
    ],
    "shareStructure": {
      "authorizedShares": "Unlimited",
      "issuedShares": 83355640,
      "classesOfShares": ["Common shares"],
      "warrants": [
        {
          "number": 1370000,
          "exercisePrice": 0.55,
          "expiryDate": "2027-06-25"
        },
        {
          "number": 6665000,
          "exercisePrice": 0.4,
          "expiryDate": "2028-06-06"
        }
      ],
      "options": [
        {
          "number": 200000,
          "exercisePrice": 1.3,
          "expiryDate": "2026-04-10"
        },
        {
          "number": 1310000,
          "exercisePrice": 0.91,
          "expiryDate": "2026-09-07"
        },
        {
          "number": 50000,
          "exercisePrice": 0.91,
          "expiryDate": "2026-12-12"
        },
        {
          "number": 1995000,
          "exercisePrice": 0.4,
          "expiryDate": "2028-09-15"
        },
        {
          "number": 10000,
          "exercisePrice": 0.4,
          "expiryDate": "2028-10-03"
        }
      ],
      "rightsConvertibleInstruments": null
    },
    "managementCompensation": {
      "currency": "CAD",
      "periods": {
        "2025-11-30": {
          "managementFees": 149000,
          "consultingFees": 85311,
          "shareBasedCompensation": 49118
        }
      },
      "namedIndividuals": [],
      "otherRelatedPartyTransactions": [
        {
          "counterparty": "Director and officer",
          "description": "Accounts payable and accrued liabilities",
          "amount": 19590,
          "period": "2025-02-28"
        }
      ]
    },
    "subsequentEvents": []
  }
]