SEDAR Interim Financial Statements

Rush Rare Metals Corp. Condensed Consolidated Interim Financial Statements For the three and six months ended December 31, 2025 Expressed in Canadian Dollars (unaudited) NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor. The accompanying unaudited condensed interim financial statements have been prepared by and are the responsibility of the Company’s management. The Company's independent auditor has not performed a review of these condensed interim financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor. RUSH RARE METALS CORP. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION AS AT DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 1 The accompanying notes are an integral part of these consolidated financial statements As at December 31, 2025 June 30, 2025 Assets Current Cash and cash equivalents $ 130,624 $ 215,546 Other receivables (Note 4) 32,836 24,203 Prepaid expense 2,188 7,438 Investment (Note 6) 523,219 388,677 688,867 635,864 Mineral property interests (Note 5) 20,000 20,000 Total Assets $ 708,867 $ 655,864 Liabilities and Shareholders' Equity Current Liabilities Accounts payable (Note 8) $ 13,664 $ 11,314 Accrued liabilities 18,500 25,000 Total Liabilities 32,164 36,314 Shareholders' Equity Share capital (Notes 5 and 7) 1,828,848 1,714,058 Share-based payment and warrant reserve (Notes 7 and 8) 309,184 309,184 Deficit (1,461,329) (1,403,692) Total Shareholders’ Equity 676,703 619,550 Total Liabilities and Shareholders' Equity $ 708,867 $ 655,864 /s/ Fabiana Lara Director /s/ Brad Newell Director RUSH RARE METALS CORP. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 2 The accompanying notes are an integral part of these consolidated financial statements Three months ended Three months ended Six months ended Six months ended December 30, 2025 December 30, 2024 December 30, 2025 December 30, 2024 Operating Expenses Exploration and evaluation expenditure $ 4,301 $ 18,335 $ 45,862 $ 25,592 General and administrative (Note 8) 42,699 37,083 85,748 88,047 Professional fees 46,381 30,937 60,569 42,901 93,381 86,355 192,179 156,540 Other Expenses (Income) Unrealized loss/(gain) in fair value change of investments (Note 6) $ 82,220 $ (115,988) (134,542) (173,609) Gain on sale of mineral property interest - (116,148) - (116,148) Interest Income - (6,810) - (10,861) 82,220 (238,946) (134,542) (300,618) Net Loss (Income) and Comprehensive Loss $ 175,601 $ (152,591) $ 57,637 $ (144,078) Loss per share - basic (Note 7) $ (0.00) $ 0.00 $ (0.00) $ 0.00 Loss per share - diluted (Note 7) $ (0.00) $ 0.00 $ (0.00) $ 0.00 Weighted Average Number of Common Shares Outstanding (Note 7) 42,477,330 41,572,217 42,039,567 41,556,233 RUSH RARE METALS CORP. CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 3 The accompanying notes are an integral part of these consolidated financial statements Number of Outstanding Shares Share --- Capital Share-based payment and warrants reserve Deficit Total Shareholders' Equity $ $ $ $ Balance, June 30, 2024 41,540,249 1,708,214 254,604 (1,146,119) 816,699 Common shares issued for warrants exercised (Note 7) 58,438 5,844 - - 5,844 Net loss for the period - - - 144,078 144,078 Balance, December 31, 2024 41,598,687 1,714,058 254,604 (1,002,041) 966,621 Balance, June 30, 2025 41,598,687 1,714,058 309,184 (1,403,692) 619,550 Common shares issued for exercise of stock options (Note 7) 200,000 20,000 - - 20,000 Common shares issued for warrants exercised (Note 7) 770,258 94,790 - - 94,790 Net loss for the period - - - (57,637) (57,637) Balance, December 31, 2025 42,568,945 1,828,848 309,184 (1,461,329) 676,703 RUSH RARE METALS CORP. CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 4 The accompanying notes are an integral part of these consolidated financial statements Six months ended December 31, 2025 Six months ended December 31, 2024 Cash Provided by (Used in) Operating Activities Net loss for the period $ (57,637) $ 144,078 Items not affecting cash: Gain/loss on sale of property for shares - (116,148) Unrealized gain/loss in fair value change of investments (134,542) (173,609) Changes in working capital items: Other receivables (8,633) (13,716) Prepaid expenses 5,250 7,700 Accounts payable and accrued liabilities (4,150) (53,693) (199,712) (205,388) Investing Activities Investment proceeds - 59,900 - 59,900 Financing Activities Warrant exercised for issuance of common shares 114,790 5,844 114,790 5,844 Inflow (outflow) of Cash and Cash Equivalents (84,922) (139,644) Cash and cash equivalents - Beginning of period 215,546 408,745 Cash and cash equivalents - End of period $ 130,624 $ 269,101 Supplemental disclosure of cash and cash equivalents: Cash 130,624 69,101 Short-Term Investment - 200,000 Cash and cash equivalents $ 130,624 $ 269,101 RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 1. Entity information Rush Rare Metals Corp. (“Rush” or the “Company”) was incorporated on October 28, 2021, under the Business Corporations Act (British Columbia). The Company’s registered and records office is located at #600 -1090 West Georgia Street, Vancouver, British Columbia. The Company is an early-stage entity focused on exploration of mineral sites with a view of commercialization. The Company has acquired the rights to mineral exploration properties within the Province of Québec in Canada and the State of Wyoming in the United States (Note 5). Effective January 26, 2023, the Company’s shares trade on the Canadian Securities Exchange (“CSE”) under the symbol “RSH”. 2. Basis of presentation (a) Statement of compliance These condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and with the interpretations of the International Financial Reporting Standards Interpretations Committee (“IFRIC”). The condensed consolidated interim financial statements for the six months ended December 31, 2025, were authorized for issuance by the Company’s board of directors on March 2, 2026. (b) Basis of preparation The condensed consolidated interim financial statements have been --- prepared on a historical cost basis except for financial instruments at fair value through profit or loss (“FVTPL”) which are measured at fair value. (c) Basis of consolidation These condensed consolidated interim financial statements include the accounts of the Company and its wholly owned subsidiary, Rush Uranium Wyoming LLC. The Company’s subsidiary is an entity controlled by the Company, and the Company has power over the entity through its exposure and rights to variable returns from the subsidiary. The financial statements of the Company’s subsidiary are prepared for the same reporting period as the Company, and all intercompany transactions and balances have been eliminated. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) (d) Going concern The Company is in the process of exploring its mineral property interests and has not yet determined whether they contain mineral reserves that are economically recoverable. The Company’s continuing operations and the underlying value and recoverability of the amounts shown for the investment in its mineral property interests is entirely dependent upon the existence of economically recoverable mineral reserves, the ability of the Company to obtain the necessary financing to complete the exploration and development of the investment in these properties, obtaining the necessary permits to mine, and on future profitable production or proceeds from the disposition of the mineral property interest. These condensed consolidated interim financial statements have been prepared on the basis of accounting principles applicable to a going concern, which assumes that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations. Several adverse conditions cast significant doubt on the validity of this assumption. The Company has incurred a net loss during the six months ended December 31, 2025, of $57,637, has accumulated losses of $1,461,329, has limited resources, no sources of operating cash flow and no assurances that sufficient funding will be available to continue operations for an extended period of time. The application of the going concern concept is dependent upon the Company’s ability to satisfy its liabilities as they become due and to obtain the necessary financing to complete the exploration and development of its mineral property interests, the attainment of profitable mining operations or the receipt of proceeds from the disposition of its mineral property interests. Management may seek to raise the necessary capital to meet its funding requirements. There can be no assurance that management’s plan will be successful. These material uncertainties cast significant doubt about the Company’s ability to continue as a going concern. If the going concern assumption were not appropriate for these consolidated financial statements, then adjustments may be necessary to the carrying value of assets and liabilities, the reported expenses, and the consolidated financial position classifications used. Such adjustments could be material. (e) Functional and presentation currency These condensed consolidated interim financial statements are presented in Canadian dollars, which is the functional currency of the Company and its subsidiary. All financial information h --- as been rounded to the nearest dollar except where otherwise indicated. (f) Use of estimates and judgments The presentation of condensed consolidated interim financial statements in accordance with IFRS requires management to make estimates, judgments and assumptions that affect the Company’s accounting policies to facilitate the reporting of the Company’s assets, liabilities, and expenses during the period. Estimates and related assumptions are reviewed regularly, on an ongoing basis, and revisions to such estimates are recognized prospectively in the period of revision. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) Areas in which management has made critical judgment in the process of applying its accounting policies that have the most significant effect on the amounts recorded in the Company’s condensed consolidated interim financial statements include the determination of the Company’s functional currency and the ability of the Company to continue as going concern. Information about key assumptions and estimation uncertainty that has a significant risk of resulting in a material adjustment to the carrying amounts of the Company’s assets and liabilities within the next financial year are referenced in the notes to the Company’s audited financial statement as of June 30, 2025 as follows: • Note 2(d): The assessment of the Company to continue as a going concern; • Note 3(b): Estimates of the measurement, valuation and period of use of the Company’s mineral property interests; • Note 3(e): Estimates of Black-Scholes Model inputs to estimate the value of the Company’s share-based payment transactions; • Note 3(f): Estimates and assessment of the recoverability of unused tax losses and deductible temporary differences. 3. Material accounting policies information The Company did not adopt any new material policies during the period ended December 31, 2025. The accounting policies applied in the preparation of the unaudited condensed consolidated interim financial statements are consistent with those disclosed in the Company’s audited financial statements for the year ended June 30, 2025. The Company’s accounting policies have been consistently applied to all periods presented, unless otherwise stated. 4. Other receivables Below is the summary of the Company’s receivables at December 31, 2025, and June 30, 2025: December 31, 2025 June 30, 2025 Sales tax receivable $ 22,836 $ 14,203 Other receivable 10,000 10,000 $ 32,836 $ 24,203 RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 5. Mineral property interests Set out below is a continuity of the Company’s acquisition costs of its mineral property interests at June 30, 2024, June 30, 2025, and December 31, 2025: Boxi Copper Mountain Total Balance, June 30, 2024 $ 20,000 283,852 303,852 Mineral property proceeds – option agreement - (283,852) (283,852) Balance, June 30, 2025 20,000 - 20,000 Balance, December 31, 2025 $ 20,000 - 20,000 (a) Boxi property On November 8, 2021, the Company entered into an asset purchase agreement (the “Boxi Agreement”) to acquire the rights, title and all interest in ten (10) mineral claims, located in the Province of Québec (the “Boxi Property”). The Company acquired the Boxi Property for 1,000, --- 000 common shares which were valued at $20,000. The Company subsequently augmented the Boxi Property by staking an additional 150 claims. 5 mineral claims subsequently expired. (b) Copper Mountain property On May 8, 2022, the Company entered into an assignment and assumption agreement (the “Copper Mountain Assignment Agreement”), pursuant to which the Company assumed the obligations as buyer under a project sale agreement dated as of April 8, 2022 (the “Copper Mountain Sale Agreement”) to purchase ten (10) mineral claims located in the State of Wyoming (the “Copper Mountain Property”). The Company subsequently augmented the Copper Mountain Property by staking an additional 100 claims. The Company acquired the Copper Mountain Property for $323,933 (USD $250,000). The Company incurred in staking costs of $36,027 for the additional mineral claims added during the period ended June 30, 2022, in addition to an ongoing annual payment along with royalty payments on revenue earned on the property. Additionally, the Company entered into an agreement to issue 900,000 finder’s units associated with the acquisition of the Copper Mountain Property, with each unit comprising one (1) common share of the Company and one share purchase warrant exercisable to purchase one share at an exercise price of $0.20 for two years from grant date (Note 7(d)). The Company capitalized $18,000 representing the fair value of the common shares and $2,643 representing the fair value of the warrants. The Company incurred staking costs of $136,204 for the additional mineral claims added during the year ended June 30, 2023. In 2024, the Company augmented the Copper Mountain Property through staking and through a mining lease. Minerals produced from portions of the leased area attracts a flat 1% to 3% royalty on net returns, depending on the particular location of the mineral production. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) On October 18, 2023, the Company entered into property option agreement (the “Option Agreement”) with Myriad Uranium Corp. (“Myriad”), under which Myriad has the option to earn up to a 75% interest in and to the Copper Mountain Property. Under the Option Agreement, Myriad had the option to acquire an initial 50% interest in the Property by: (1) making an initial cash payment of $100,000 to Rush (received) and issuing 576,209 common shares (received, Note 6) of Myriad (each, a “Share”) to Rush on the date of execution (the “Effective Date”) of the Agreement; (2) making an additional cash payment of $35,000 to Rush (received) on the date which is 90 days from the Effective Date; (3) issuing an additional $150,000 worth of Shares to Rush on the date which is one year from the Effective Date (received); (4) issuing an additional $250,000 worth of Shares to Rush on the date which is two years from the Effective Date (received); and (5) within two years of the Effective Date, making expenditures of no less than $1,500,000 on the Property (completed). On successfully earning a 50% interest in the Property, Myriad had the option to acquire an additional 25% interest (for a total interest of 75%) in the Property by making additional expenditures of no less than $4,000,000 (completed December 2025) on the Property within four years of the Effective Date. In addition, upon completion of a Prefeasibility Study or Prelimi --- nary Economic Assessment respecting the Property, Myriad shall be obligated to issue an additional $2,500,000 worth of Shares to Rush. Upon Myriad successfully earning an initial 50% interest in and to the Property, Myriad may elect to trigger the formation of a 50/50 joint venture for the purposes of the continued exploration, development and exploitation of the Property, and if Myriad so elects then the parties will use their reasonable commercial efforts to negotiate, execute and deliver a joint venture agreement which shall include such terms and conditions normally provided for in commercial transactions of such nature that are mutually acceptable to the parties including without limitation: (i) the operator of the joint venture from time to time; (ii) Myriad’s right to earn an additional 25% interest (for a total interest of 75%) in and to the Property; (iii) Myriad’s potential right to earn an additional 25% interest (for a total interest of 100%) in and to the Property at fair market value; and (iv) a 50/50 split of the initial $50,000,000 in net production proceeds from the Property, or an alternative structure that is economically equivalent, following commencement of commercial production. The CFO of the Company is also the CFO of Myriad Uranium Corp. On October 28, 2024, the Company’s earn-in partner on the Copper Mountain uranium property in Wyoming, Myriad, exercised its option to acquire an initial 50% interest in Rush’s Copper Mountain Project under the Option Agreement. On December 8, 2025, Myriad, exercised its option to acquire an additional 25% interest. During the year ended June 30, 2025, in conjunction with Myriad’s exercise of the option, Myriad issued to Rush an aggregate of 1,093,702 Myriad common shares, having an aggregate value of $530,445, representing a deemed price per Share of approximately $0.485. During the year ended June 30, 2025, the Company recognized a gain on sale of the mineral property interests of $246,593 as results of the exceed of the options payments received from Myriad and the carrying value of the Copper Mountain Property. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 6. Investment The Company recorded the shares received from Myriad related to the Option Agreement (Note 5(b)) as investments on the consolidated statement of financial position. Investments are classified at fair value through profit and loss. The 576,209 common shares were originally recorded at $97,955 on the date of the transaction, and another 1,093,702 common shares were recorded at $530,445 on the date of the transaction, being the fair values on the date of receipt of the shares. In October 2024, the Company sold 175,000 of the common shares for cash proceeds of $59,900. As at June 30, 2025, the investment in Myriad was carried at a fair value of $388,677 (2024 - $144,052), as at December 31, 2025, the investment in Myriad was carried at a fair value of $523,219 (2024 – $657,761). The Company recorded an unrealized change in fair value, resulting in a loss of $82,220 and a gain of $134,542 for the three and six months ended December 31, 2025 (2024 – gain of $115,988 and $173,609). 7. Share capital (a) Authorized The Company is authorized to issue an unlimited number of common shares without par value. (b) Issued and outstanding The Company’s share capital at December 31, 2025, c --- onsisted of 42,568,945 common shares issued and outstanding (June 30, 2025 – 41,598,687). • In November 2024, a total of 58,438 warrants at an exercise price of $0.10 were exercised for cash proceeds of $5,844. • In August 2025, the Company received proceeds of $500 from the exercise of warrants, upon issuance of 5,000 shares at a price of $0.10 per share. • In September 2025, the Company received proceeds of $840 from the exercise of warrants, upon issuance of 8,400 shares at a price of $0.10 per share. • In October 2025, the Company issued 200,000 common shares related to the exercise of stock options exercisable at $0.10. Cash proceeds of $20,000 were received. • In October 2025, the Company issued 401,572 common shares related to the exercise of warrants exercisable at $0.10, and 355,286 common shares related to the exercise of warrants exercisable at $0.15. Cash proceeds of $40,157 and $53,218 were received. (c) Stock option plan The Company has an incentive stock option plan (the “Plan”) in which it may grant incentive stock options (“Options”) to its directors, officers, employees and contractors to purchase common shares of the Company. The terms and conditions of each Option granted in accordance with the Plan are approved by resolution of the Company’s board of directors. On January 19, 2024, the Company issued an aggregate of 1,300,000 stock options to directors, officers, and consultants of the Company. Each option vests immediately and is exercisable for one common share of the Company at a price of $0.075 for five years, valued at $85,806. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) On February 22, 2024, the Company issued 200,000 stock options related to a service agreement, each option exercisable for one common share at a purchase price of $0.10 per share, for two years, valued at $13,565. The options vested immediately. On April 16, 2025, 100,000 stock options exercisable at $0.10 and 125,000 stock options exercisable at $0.075 were forfeited. On June 2, 2025, the Company issued 465,000 stock options to directors and executives of the Company. Each option vests immediately and is exercisable for one common share of the Company at a price of $0.11 for five years, valued at $54,580. In October 2025, the Company issued 200,000 common shares related to the exercise of stock options exercisable at $0.10. Cash proceeds of $20,000 were received. During the six months ended December 31, 2025, the Company recorded share-based payment expense of $nil (2024 - $nil). Changes in the number of Options during period from July 1, 2024, to December 31, 2025, is as follows: Number of options Weighted average exercise price Balance, June 30, 2024 3,914,000 $ 0.09 Granted 465,000 $ 0.12 Forfeited (225,000) $ 0.08 Balance, June 30, 2025 4,154,000 $ 0.10 Exercised (200,000) $ 0.10 Balance, December 31, 2025 3,954,000 $ 0.09 Options exercisable, end of period 3,954,000 $ 0.09 The following is a summary of the outstanding stock options at December 31, 2025: Exercise price Number outstanding Weighted average remaining contractual life Number exercisable Weighted average remaining vesting period $ 0.10 414,000 5.88 414,000 - $ 0.10 1,800,000 6.72 1,800,000 - $ 0.10 100,000 7.91 100,000 - $ 0.08 1,175,000 3.05 1,175,000 - $ 0.11 465,000 4.42 465,000 - $ 0.09 3,954,000 5.30 3,954,000 - RUSH RARE METALS CORP. --- NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) (d) Warrants In February 2024, in connection with a private placement the Company issued 3,744,499 share purchase warrants, each entitling the holder to purchase one common share at a price of $0.15 for 24 months. During the year ending June 30, 2024, the Company received proceeds of $3,200 from the exercise of warrants, upon issuance of 32,000 shares at a price of $0.10 per share. The average price of the shares during the period of the warrant exercise was $0.13. During the year ending June 30, 2025, the Company received proceeds of $5,844 from the exercise of warrants, upon issuance of 58,438 shares at a price of $0.10 per share. During the six months ended December 31, 2025, the Company received proceeds of $94,790 from the exercise of warrants, upon issuance of 414,972 shares at a price of $0.10 per share and issuance of 355,286 shares at price of $0.15 per share. The following is a summary of the outstanding warrants at December 31, 2025: Number of warrants Weighted average exercise price Weighted average remaining contractual life (years) Balance, June 30, 2024 5,226,099 $ 0.15 1.36 Expired (900,000) 0.20 - Exercised (58,438) 0.10 - Balance, June 30, 2025 4,267,661 0.14 0.64 Exercised (770,258) 0.13 - Balance, December 31, 2025 3,497,403 0.15 0.14 Warrants exercisable, December 31, 2025 3,497,403 $ 0.15 0.14 (e) Per share amounts The basic weighted average number of common shares outstanding for the three and six months ended December 31, 2025, was 42,477,330 and 42,039,567 (2024 – 41,572,217 and 41,556,233). The diluted weighted average number of common shares outstanding for the three and six months ended December 31, 2025, was 42,456,904 (2024 – 43,332,066). Effects of dilution from 3,954,000 options and 3,497,403 warrants were included in the calculation of diluted weighted average shares outstanding for the six months ended December 31, 2025, as there was net income, and exercise price of warrants was greater or equal to the average market price during the period. There were no dilutive instruments outstanding as at December 31, 2024. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) (f) Reserves The following is a summary of the changes to reserves for the years ended June 30, 2025, and 2024, and the period ended December 31, 2025: Balance, June 30, 2024 Additions Balance, June 30, 2025 Additions Balance, December 31, 2025 Reserve Type Stock Options $ 213,304 $54,580 $ 267,884 $ - $ 267,884 Warrants 41,300 - 41,300 - 41,300 Total $ 254,604 $54,580 $ 309,184 $ - $ 309,184 8. Related party transactions The Company’s related parties include its Board of Directors, Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), who are key management personnel, having the authority and responsibility for planning, directing and controlling the activities of the Company. During the six months ended December 31, 2025, the Company recorded general and administrative fees of $9,000 (2024 – $9,000) to a close family member of the Company’s CEO. As of December 31, 2025, there was no payable to this individual (December 31, 2024 - $nil). During the six months ended December 31, 2025, the Company recorded general and administrative fees o --- f $30,000 to the Company’s CEO (2024 – $30,000). As of December 31, 2025, there was no payable to the CEO (December 31, 2024 - $nil). During the six months ended December 31, 2025, the Company recorded general and administrative fees of $15,500 to the Company’s CFO (2024 –$15,000). As of December 31, 2025, there was no payable to the CFO (December 31, 2024 - $nil). The above transactions with related parties are in the normal course of business and have been measured at the exchange amount, which is the consideration agreed to between the related parties. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) 9. Financial instruments (a) Financial assets and liabilities The following table summarizes the carrying value at fair value of the Company’s financial instruments as at December 31, 2025, and June 30, 2025: December 31, 2025 June 30, 2025 Carrying amount Fair value Carrying amount Fair value Financial assets Measured at fair value Cash and cash equivalent $ 130,624 $ 130,624 $ 215,546 $ 215,546 Investments 523,219 523,219 388,677 388,677 653,843 653,843 604,223 604,223 Measured at amortized cost Other receivables $ 32,836 $ $ 14,203 $ 32,836 14,203 Financial liabilities Measured at amortized cost Accounts payable $ 13,664 $ 11,314 (b) Risks arising from financial instruments and risk management The Company’s activities expose it to a number of financial risk including market risk, credit risk and liquidity risk. The Company’s management are responsible for identifying, evaluating, and when appropriate, mitigating financial risks. (i) Market risk Market risk is the risk in which loss, may arise from changes in the market environment, including but not limited to, interest rates, foreign exchange rates, and price risk of equity prices. (ii) Interest rate risk Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate due to changes in the market interest rates. The Company does not have any interest-bearing debt and is not exposed to interest rate risk. (iii) Foreign exchange risk Foreign exchange risk is the risk that the fair value of future cash flows for foreign denominated financial instruments will fluctuate due to changes in foreign exchange rates. The Company does not have US$ cash and cash equivalents denominated financial instruments and is therefore not exposed to foreign exchange risk. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) (iv) Equity price risk Equity price risk is a risk of potential loss to the Company due to changes in individual equity prices or general movements in stock markets. The Company is exposed to changes in equity price changes in its shares held of Myriad Uranium Corp. (v) Credit risk Credit risk is the risk of loss to the Company if a counterparty to a financial instrument is unable to meet its contractual obligations and arises from the Company’s cash. The carrying values of the Company’s financial assets represent the Company’s maximum credit exposure. The Company limits its credit exposure through the placement of its cash and cash equivalent with high-quality financial institutions and believes that, as a result, it does not have significant credit risk on its cash balance. Credit risk is --- assessed as minimal. (vi) Liquidity risk Liquidity risk represents the risk that the Company will be unable to meet its financial obligations as they become due. The Company manages liquidity risk by closely monitoring its forecasted cash needs in addition to its current obligations. The Company’s accounts payable and accrued liabilities are due within the current operating year. Liquidity risk is assessed as high. (vii) Capital management The Company’s capital consists of its cash and equity. The Company manages its capital structure and adjusts according to the funds available to the Company, to sustain its operations. The Company’s board of directors does not establish quantitative return on capital criteria for the Company’s management but relies on the expertise of Company’s management to advance future development of the Company. Additional funds will be required to advance the Company’s business. Management reviews its capital management approach on an ongoing basis and believes that this approach is reasonable for an entity of its size. There were no changes to the Company’s capital management approach during the six months ended December 31, 2025. The Company is not subject to external restrictions of capital. (viii) Determination of fair value A number of the Company’s accounting policies require the determination of fair value for financial and non-financial assets and liabilities. The Company follows the guidance of IFRS 13, Fair Value Measurement, which establishes a fair value hierarchy that reflects the significance of the inputs used in measuring fair value. The fair value hierarchy has the following levels: • Level 1 – Quoted prices in active markets for identical assets or liabilities; • Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; • Level 3 – Unobservable inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing. RUSH RARE METALS CORP. NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2025 (EXPRESSED IN CANADIAN DOLLARS) (UNAUDITED) Fair values have been determined for measurement and disclosure purposes based on the models described below. When applicable, further information about the assumptions made in determining the fair value is disclosed in the note specific to that asset or liability. The Company’s cash, cash equivalents and investments are carried at fair value based on Level 1 inputs and the carrying value of other receivables and accounts payable are carried at amortized cost and approximates to their fair values due to their short-term nature. 11. Commitments As of December 31, 2025, the Company had the following commitments: • Pursuant to the Copper Mountain Assignment Agreement, an annual payment of US$25,000 to be divided equally between the vendors of the Copper Mountain Property, due on or before April 8th of each year (all required payments to date have been completed). • Pursuant to the Copper Mountain Assignment Agreement, a net smelter return (“NSR”) royalty on production of 2.5% (the “Royalty”) of the sales value on any yellowcake sourced on or from the project area. In addition, pursuant to a lease agreement dated as of April 9, 2024, respecting certain claims comprising the Copper Mountain Property, mineral produced from portions of the l --- eased area attracts a flat 1% to 3% royalty on net returns, depending on the particular location of the mineral production. 12. Subsequent Events Subsequent to December 31, 2025, the Company issued 65,100 common shares related to the exercise of warrants exercisable at $0.10. Cash proceeds of $6,510 were received. Subsequent to December 31, 2025, the Company issued 3,389,213 common shares related to the exercise of warrants exercisable at $0.15. Cash proceeds of $508,382 were received. Subsequent to December 31, 2025, the Company issued 50,000 common shares related to the exercise of stock options exercisable at $0.075. Cash proceeds of $3,750 were received. On January 30, 2026, the Company issued 150,000 common shares to certain directors of the Company as compensation for services provided to the Company. Each common share was issued at a deemed price of $0.18 per common share, representing aggregate consideration of $27,000. On February 13, 2026, the Company entered into an acquisition agreement and an arrangement agreement respecting their previously announced merger transaction under which Myriad will acquire 100% of the issued and outstanding common shares of Rush pursuant to a statutory plan of arrangement. Under the arrangement, Myriad will acquire all of the issued and outstanding common shares of Rush by issuing one Myriad common share for every 1.85 Rush shares issued and outstanding, resulting in an exchange ratio of one Rush share to 0.5405 Myriad shares. In addition, all of Rush's convertible securities will be replaced with Myriad convertible securities exercisable for Myriad shares, with appropriate adjustments made to reflect the exchange ratio under the arrangement.