SEDAR Interim Financial Statements

TANA Resources Corp. Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 2 NOTICE TO READER 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 that the financial statements have not been reviewed by an auditor. The accompanying unaudited condensed interim financial statements of Tana Resources Corp. for the nine months ended July 31, 2025 have been prepared by and are the responsibility of management. External auditors have not performed a review of these condensed interim financial statements. 3 TANA Resources Corp. Condensed Interim Statements of Financial Position (in Canadian Dollars - unaudited) As at July 31, October 31, 2025 2024 Current Assets Cash $ 4,606 $ 14,591 Marketable securities (note 4) 2,000 1,500 Receivables 3,381 1,743 Prepaid expenses - 100 Total assets $ 9,987 $ 17,934 Current Liabilities Accounts payable and accrued liabilities (notes 6,8) $ 366,321 $ 235,217 Loans payable (note 6) 11,142 - 377,463 235,217 Shareholders' (Deficit) Equity Share capital (note 7) 545,545 545,545 Subscriptions received 1,000 1,000 Accumulated deficit (914,021) (763,828) Total shareholders’ (deficit) equity $ (367,476) $ (217,283) Total liabilities and shareholders’ (deficit) equity $ 9,987 $ 17,934 Incorporation, Nature of Business and Going Concern (note 1) Approved on behalf of the Board of Directors: “Vartan Korajian” “Tim Henneberry” The accompanying notes are an integral part of these condensed interim financial statements. 4 TANA Resources Corp. Condensed Interim Statements of Loss and Comprehensive Loss (in Canadian Dollars - unaudited) For the three months ended For the nine months ended July 31, July 31, July 31, July 31, 2025 2024 2025 2024 General and administrative expenses Consulting fees (note 8) $ 775 $ 920 $ 1,915 $ 1,850 Depreciation (note 5) - - - 70 Management fees (note 8) 21,000 21,000 63,000 63,000 Marketing and promotion 1,215 430 2,403 1,359 Office facilities and services (note 6) 3,972 6,398 13,962 16,404 Professional fees 35,486 6,000 51,765 17,329 Transfer, listing, and filing fees 2,204 3,362 15,353 12,768 Travel and entertainment 419 604 2,295 4,514 Total expenses $ 65,071 $ 38,714 $ 150,693 $ 117,294 Other income (expense) Unrealized gain on marketable securities (note 4) - (500) 500 (500) Exploration and evaluation assets impairment (note 4) - - - (16,389) Net loss and comprehensive loss $ (65,071) $ (39,214) $ (150,193) $ (134,183) Net loss per share – basic and diluted $ (0.00) $ (0.00) $ (0.01) $ (0.01) Weighted average number of shares outstanding 14,225,000 14,225,000 14,225,000 14,111,861 The accompanying notes are an integral part of these condensed interim financial statements. 5 TANA Resources Corp. Condensed Interim Statements of Changes in Shareholders’ Equity (Deficit) (in Canadian Dollars - unaudited) Common Shares Number of Shares Amount Subscriptions Received Deficit Shareholders' Equity (Deficit) Balance at October 31, 2023 14,025,000 $ 537,545 $ 1,000 $ (562,487) $ (23,942) Shares issued for exploration and evaluation assets (notes 4 and 7) 200,000 8,000 - - 8,000 Net loss and comprehensive loss for the period - - - (134,183) (134,183) Balance at July 31, 2024 14,225,000 $ 545,545 $ 1,000 $ (696,670) $ (150,125) Common Shares Number of Shares Amount Subscriptions Received D --- eficit Shareholders' Equity (Deficit) Balance at October 31, 2024 14,225,000 $ 545,545 $ 1,000 $ (763,828) $ (217,283) Net loss and comprehensive loss for the period - - - (150,193) (150,193) Balance at July 31, 2025 14,225,000 $ 545,545 $ 1,000 $ (914,021) $ (367,476) The accompanying notes are an integral part of these condensed interim financial statements. 6 TANA Resources Corp. Condensed Interim Statements of Cash Flows (in Canadian Dollars - unaudited) For the nine months ended July 31, July 31, 2025 2024 Cash provided by (used in) Operating activities Net loss $ (150,193) $ (134,183) Items not involving cash: Exploration and evaluation assets impairment - 16,389 Depreciation - 70 Accrued interest 142 - Unrealized gain on marketable securities (500) - Changes in working capital items Change in prepaid expenses 100 (100) Change in receivables (1,638) 4,484 Change in accounts payable and accrued liabilities 131,104 75,018 Net cash used in operating activities (20,985) (38,322) Investing activities Exploration and evaluation assets - (8,389) Net cash used in investing activities - (8,389) Financing Activities Loans payable received 11,000 - Cash provided by financing activities 11,000 - Decrease in cash (9,985) (46,711) Cash beginning of the period 14,591 67,860 Cash end of the period $ 4,606 $ 21,149 Supplemental cash disclosures Non-cash investing and financing activities Accounts payable and accrued liabilities related to exploration and evaluation assets $ - $ - Shares issued for exploration and evaluation assets $ - $ 8,000 Interest paid (received) $ - $ - Income taxes paid (received) $ - $ - The accompanying notes are an integral part of these condensed interim financial statements. TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 7 1. INCORPORATION, NATURE OF BUSINESS AND GOING CONCERN TANA Resources Corp. (the “Company”) was incorporated under the Business Corporation Act (B.C.) on August 26, 2020. The registered and records office is located at Suite 1500 – 1055 West Georgia Street, Vancouver, BC, V6E 4N7. The head office is located at Suite 830 - 1100 Melville Street. Vancouver, BC V6E 4A6. The Company filed its final non-offering prospectus with the British Columbia Securities Commission and commenced trading on the CSE on June 21, 2022, under the symbol “TANA”. The Company’s principal business activities include the acquisition and exploration of mineral property assets. As at July 31, 2025, the Company had not yet determined whether the mineral property asset contains ore reserves that are economically recoverable. During the nine months ended July 31, 2025, the Company incurred a loss of $150,193 and had accumulated deficit of $914,021 at July 31, 2025 (October 31, 2024: $763,828), which has been funded by the issuance of equity. The Company’s ability to continue its operations and to realize its assets at their carrying values is dependent upon obtaining additional financing and/or generating revenues sufficient to cover its operating costs. These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. These financial statements do not include any adjustments relating to the recoverability of assets and classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern. --- Such adjustments could be material. 2. MATERIAL ACCOUNTING POLICIES Statement of Compliance These condensed interim financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) applicable to the preparation of interim financial statements, including International Accounting Standards (“IAS”), Interim Financial Reporting (“IAS 34”). These financial statements do not include all of the information required of full annual financial statements and are intended to provide users with an update in relation to events and transactions that are significant to an understanding of the changes in financial position and performance of the Company since the end of the last annual reporting period. It is therefore recommended that these financial statements be read in conjunction with the annual financial statements of the Company for the years ended October 31, 2024 and 2023. The accounting policies applied in these condensed interim financial statements are consistent with those applied and disclosed in the Company’s audited financial statements for the year ended October 31, 2024. The Company’s interim results are not necessarily indicative of its results for a full year. These financial statements were authorized for issue on September 29, 2025, by the Company’s directors. TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 8 2. MATERIAL ACCOUNTING POLICIES (CONTINUED) Basis of Presentation The financial statements are presented in Canadian dollars (“CAD”), which is the Company’s functional and presentation currency. The financial statements are prepared on a historical cost basis except for certain financial instruments measured at fair value. The accounting policies have been applied consistently throughout the periods presented in these financial statements. Adoption of New Accounting Standards, Interpretations and Amendments Recently adopted accounting standards The Company adopted the following amendment to IFRS Accounting Standards that are mandatorily effective for accounting periods beginning on or after January 1, 2023. Their adoption has not had a material impact on disclosures or amounts reported in these financial statements. IAS 1 Presentation of Financial Statements: Amendments to IAS 1 require that companies disclose their material accounting policies rather than their significant accounting policies and explain how a company identifies its material accounting policies. IAS 8 Accounting Policies, Change in Accounting Estimates and Errors: Amendments to IAS 8 relate to the change in definition of accounting estimates. Under the new definition, accounting estimates are “monetary amounts in financial statements that are subject to measurement uncertainty”. The amendments clarify that a change in an accounting estimate that results from new information or new developments is not the correction of an error. IAS 12 Income Taxes: Amendments to IAS 12 relate to deferred tax assets and liabilities arising from a single transaction and clarify that the initial recognition exemption does not apply to transactions in which equal amounts of deductible and taxable temporary differences arise on initial recognition. Recently issued but net yet effective accounting standards The Company has not yet adopted certain new standards, amendmen --- ts and interpretations to existing standards as outlined below, which have been published but are only effective for accounting periods beginning on or after November 1, 2024 or later periods. The new and amended standards are not expected to have a material impact on the Company except for the below standards. IFRS 9 requires entities to recognize financial assets and liabilities when they become party to the contractual terms and to measure them initially at fair value, adjusted for directly attributable transaction costs where applicable. The standard also provides guidance on the derecognition of financial liabilities, which can impact bank reconciliation processes, especially during debt restructuring. The Company is assessing the impact of the amendments on its financial statements. Amendments to IFRS 9 are effective for reporting periods beginning on or after January 1, 2026, address classification and measurement of financial instruments. The Company is assessing the impact of these amendments on its financial statements. In April 2024, the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements. This standard aims to improve the consistency and clarity of financial statement presentation and disclosures by providing updated guidance on the structure and content of financial statements. Key changes include enhanced requirements for the presentation of financial performance, financial position, and cash flows, as well as additional disclosures to improve transparency and comparability. TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 9 2. MATERIAL ACCOUNTING POLICIES (CONTINUED) Adoption of New Accounting Standards, Interpretations and Amendments (continued) IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027. The Company is currently assessing the impact that the adoption of IFRS 18 will have on its financial statements. 3. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS The preparation of these financial statements requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. These financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised and future periods if the revision affects both current and future periods. 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. In the process of applying the Company’s accounting policies, management has not identified any significant estimates or judgments which have a material effect on the amounts recognized in the financial statements. 4. EXPLORATION AND EVALUATION ASSETS Acquisition Costs Exploration Costs Total Balance, October 31, 2023 $ - $ - $ - Additions 8,000 8,389 16,389 Impairment (8,000) (8,389) (16,389) Balance, October 31, 2024 and July 31, 2025 $ - $ - $ - Mount Polley West (“MPV”) On Ju --- ne 17, 2025 the Company entered into an option agreement with Eagle Plains Resources Ltd. (“Eagle Plains”) to acquire up to a 75% interest in the 7,406.63 hectare Mount Polley West located 54 kms north-northeast of Williams Lake and adjacent to Imperial Metals’ Mount Polley Property, in British Columbia’s Cariboo region. Under the terms of the agreement, Tana can earn an initial 60% interest in the MPW property by completing the following cash payments and share issuances and incurring the following exploration expenditures: TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 10 4. EXPLORATION AND EVALUATION ASSET (CONTINUED) Mount Polley West (“MPV”) (continued) Date Cash Payment Share Issuance Expenditures 10 days within signing (unpaid, not issued) $5,000 250,000 - 2025-Dec-31 $20,000 250,000 $75,000 2026-Dec-31 $50,000 500,000 $325,000 2027-Dec-31 $75,000 750,000 $1,000,000 2028-Dec-31 $100,000 1,000,000 $1,600,000 Totals $250,000 2,750,000 $3,000,000 Following the completion of the initial option terms, Tana can earn an additional 15% interest, to a total of 75%, upon completion of a feasibility-level study by December 31, 2031, provided Tana indicates its intention to complete the study by December 31 , 2028. Thirteen of the tenures underlying the MPW property have an underlying 2% NSR, 1% of which can be repurchased by Eagle Plains for $1,000,000. Six of those twelve have a second underlying NSR of 1%, which can be reduced to 0.5% by making a payment of $750,000. If Tana exercises the First or Second Option, Eagle Plains will be granted 2% NSR on the remaining seven tenures, which Tana can reduce to 1% through a payment of $1,000,000. No areas of the MPW property have a greater than 3% NSR before reductions. Eagle Plains will serve as Operator under industry-standard terms until Tana has completed the earn- in requirements as outlined above. As Operator, Eagle Plains may charge a 10% Operators Fee and reserves the right to employ the services of TerraLogic Exploration Services as geoscience consultant. Following the exercise of its Option, Tana and Eagle Plains shall form a joint venture at either 60/40 or 75/25 at Tana’s election for further exploration and development of the MPW Property. As of July 31, 2025, the MPV option agreement is in technical default. Double T Project First Option Agreement Pursuant to an option agreement (“Option Agreement I”) dated January 11, 2021 (the “Agreement Date”) between Carl von Einsiedel (“Optionor I”) and the Company, the Company acquired the right to earn an initial 70% interest in the Double T Property (“Double T Option I”). The interest is subject to a 2% net smelter return royalty (the “Royalty Interest”) payable to Optionor I, of which half (1%) may be purchased from Optionor I for the sum of $1,000,000. On September 7, 2023, the Company entered into an option amendment agreement with Optionor I of the Double T Property. The Double T payments of $25,000 due October 31, 2022 and $50,000 due October 31, 2023 have been amended to be $10,000 due December 31, 2023, $15,000 due March 31, 2024, and an additional $50,000 due October 31, 2024. The Double T exploration expenditure of $200,000 due by October 31, 2023 has been amended to be $40,000 in expenditures due by October 31, 2023 and an additional $160,000 in expenditures by October 31, 2024. All other terms of the agreement remained in e --- ffect. TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 11 4. EXPLORATION AND EVALUATION ASSET (CONTINUED) Double T Project (continued) The terms of Option Agreement I and Amendment Agreement provide that the Company will have earned a 70% interest in the Double T Property, subject only to the Royalty Interest, upon making cash payments of $250,000 to Optionor I, issuing a total of 500,000 common shares to Optionor I, and incurring $500,000 in exploration work on the Double T Property on or before the dates set out below: Date Cash payments Number of common shares to be issued Expenditures On the Agreement Date (paid) $20,000 - $ - Upon listing of the Company’s shares on the CSE (paid/issued) 15,000 100,000 - On or before October 31, 2021 (incurred) - - 40,000 On or before October 31, 2022 (issued/incurred) - 100,000 60,000 On or before October 31, 2023 (issued/incurred) - 100,000 40,000 On or before December 31, 2023 (paid) 10,000 - - On or before March 31, 2024 (unpaid) 15,000 - - On or before October 31, 2024 (unpaid/not issued/not incurred) 190,000 200,000 360,000 Total $250,000 500,000 $500,000 The Company has a further option with Optionor I to acquire an additional 10% by: exercising the Double T Option I, completing a bankable feasibility study on the Double T Property or equivalent as acceptable to a commercial lending entity or other entity for the provision of production financing for the Double T Property, and, maintaining the Double T Property in good standing during the term of Option Agreement I by paying, or causing to be paid, to Optionor I, or on Optionor I's behalf as the Company may determine, all payments and taxes required by the applicable regulatory authorities to be paid with respect to the Double T Property and perform, or pay in lieu thereof, all assessment work required to be carried out on the Double T Property by the applicable regulatory authorities. Certain claims are subject to 1.25% Net Smelter Return Royalty interest, with a buyback of 1% for $400,000. During the year ended October 31, 2024, the Company made the cash payment of $nil (year ended October 31, 2023 - $15,000), issued 200,000 shares with a fair value of $8,000 to the optionor (year ended October 31, 2023 - 100,000 shares with a fair value of $6,000 to the Optionor (note 6)), and incurred $8,389 (year ended October 31, 2023 - $40,000) in exploration costs. As at October 31, 2024, the Option Agreement I is in effect but is in technical default, accordingly, the Company is negotiating the terms of the agreement with the Optionor. As a result, the Company considers the property impaired under IFRS 6 and the accumulated exploration costs of $16,389 related to the Double T Property were written off during the year ended October 31, 2024 (year ended October 31, 2023 - $58,500). TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 12 4. EXPLORATION AND EVALUATION ASSET (CONTINUED) Double T Project (continued) Tana has determined to lapse the option on the Double T Property to focus its resources on the MPW project. Second option agreement Pursuant to an option agreement (“Option Agreement II”) dated October 29, 2021 (the “Effective Date”) between Garibaldi Resources Corp. (“Optionor II”) and the Company, the Company acquired the right to earn --- a 50% interest in select mineral claims (the “Connected Claims” or the “King Claims”) adjacent to the claims optioned under Option Agreement I (“Double T Option II”). On September 7, 2023, the Company assigned the Option Agreement II with Optionor II to Goldrea Resources Corp. (“Goldrea”) in exchange for 100,000 common shares of Goldrea and an additional 400,000 shares of Goldrea once Goldrea acquires a 50% interest in the King Claims from Garibaldi. As per the assignment agreement, Goldrea shall assume the outstanding obligations of Option Agreement II and the Company has no further obligations for the King Claims. During the year ended October 31, 2023, the Company recognized the initial fair value of the 100,000 Goldrea shares at $2,500 which was recorded as a reduction in exploration and evaluation assets. At July 31, 2025, the Company recorded an unrealized gain of $500 (year ended October 31, 2024 - $nil) relating to the investment in Goldrea. The fair value of the Goldrea shares at July 31, 2025 is $2,000 (October 31, 2024 - $1,500), recognized as marketable securities on the statement of financial position and was determined as the underlying quoted price of the shares. 5. EQUIPMENT Cost: Balance, October 31, 2023, 2024 and July 31, 2025 350 Accumulated depreciation: Balance, October 31, 2023 280 Depreciation 70 Balance, October 31, 2024 and July 31, 2025 $ 350 Carrying amount: As at October 31, 2024 $ - Balance, October 31, 2024 and July 31, 2025 $ - 6. LOANS PAYABLE On May 29, 2025, the Company entered into a loan agreement with a director of the Company to borrow $5,000, repayable in 12 months and bearing 8% interest per annum. During the nine months ended July 31, 2025, the Company accrued $70 (2024 - $nil) of interest on the loan. As at July 31, 2025, the principal of the loan is $5,000 (October 31, 2024 - $nil) and the accrued interest is $70 (October 31, 2024 - $nil) included in office facilities and services (note 8). TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 13 6. LOANS PAYABLE (CONTINUED) On May 29, 2025, the Company entered into a loan agreement with a director and an officer of the Company to borrow $1,000, repayable in 12 months and bearing 8% interest per annum. During the nine months ended July 31, 2025, the Company accrued $14 (2024 - $nil) of interest on the loan. As at July 31, 2025, the principal of the loan is $1,000 (October 31, 2024 - $nil) and the accrued interest is $14 (October 31, 2024 - $nil) included in office facilities and services (note 8). On June 9, 2025, the Company entered into a loan agreement with an officer of the Company to borrow $5,000, repayable in 12 months and bearing 8% interest per annum. During the nine months ended July 31, 2025, the Company accrued $58 (2024 - $nil) of interest on the loan. As at July 31, 2025, the principal of the loan is $5,000 (October 31, 2024 - $nil) and the accrued interest is $58 (October 31, 2024 - $nil) included in office facilities and services (note 8). Principal Interest Total Balance October 31, 2024 $ - $ - - Addition 11,000 - 11,000 Interest - 142 142 Balance July 31, 2025 $ 11,000 $ 142 $ 11,142 7. SHARE CAPITAL a) Authorized: Unlimited number of common shares without par value. b) Issued and outstanding As at July 31, 2025: 14,225,000 common shares (October 31, 2024 – 14,225,000) During the nine months ended July 31, 2025, No shares i --- ssued during the period. During the year ended October 31, 2024 On April 3, 2024, the Company issued 200,000 common shares with a fair value of $8,000 to the optionor of the Double T Property regarding the First Option Agreement (note 4). c) Warrants The Company has no warrants outstanding at July 31, 2025 and October 31, 2024. TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 14 7. SHARE CAPITAL (CONTINUED) d) Options The Board adopted the Option Plan on January 20, 2022. The Option Plan provides that, subject to the requirements of the Exchange, the aggregate number of securities reserved for issuance, set aside and made available for issuance under the Option Plan may not exceed 10% of the number of Common Shares of the Company issued and outstanding from time to time. The Option Plan will be administered by the Board or a committee of the Board, either of which will have full and final authority with respect to the granting of all Options thereunder. Options may be granted under the Option Plan to such directors, officers, employees or consultants of the Company, as the Board may from time to time designate. The exercise price of any Options granted under the Option Plan shall be determined by the Board, but may not have an exercise price lower than the greater of the closing market prices of the underlying securities on (a) the trading day prior to the date of grant of the Options; and (b) the date of grant of the Options. The term of any Options granted under the Option Plan shall be determined by the Board at the time of grant but, subject to earlier termination in the event of termination or in the event of death, the term of any Options granted under the Option Plan may not exceed ten years. Options granted under the Option Plan are not to be transferable or assignable. The Company has no options outstanding at July 31, 2025 and October 31, 2024. e) Escrow shares The issued and outstanding common shares will be held in escrow pursuant to the requirements of the Exchange. 10% of the escrowed common shares will be released from escrow on the issuance of the Final Exchange Bulletin (the “Initial Release”) and an additional 15% will be released on each of the dates which are 6 months, 12 months, 18 months, 24 months, 30 months and 36 months following the Initial Release. There were no common shares subject to escrow at July 31, 2024 (October 31, 2024 – 683,100). 8. RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. During the nine months ended July 31, 2025, the Company incurred $63,000 (2024 - $63,000) in management fees and consulting fees to the officers and directors of the Company. At July 31, 2025, there was a balance of $246,137 (October 31, 2024 - $143,996) payable to key management personnel included in accounts payable and accrued liabilities and $11,142 in loans payable (note 6). TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) --- 15 8. CAPITAL MANAGEMENT OBJECTIVE AND POLICIES Management considers the Company’s capital structure to consist of the components of shareholders’ deficit which totaled $914,021 as at July 31, 2025 (October 31, 2024 – 763,828). The Company's objectives when managing capital are to maintain its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to ensure that it has sufficient cash resources to fund the identification and evaluation of potential acquisitions and to fund the exploration of its current projects. To secure the additional capital necessary to pursue these plans, the Company may attempt to raise additional funds through the issuance of equity or by securing strategic partners. Management reviews the capital structure on a regular basis to ensure that the above objectives are met. There have been no changes to the Company’s approach to capital management during the nine months ended July 31, 2025. The Company is not subject to externally imposed capital requirements. 9. FINANCIAL INSTRUMENTS The Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors the risk management processes. There were no changes to the Company’s risk exposures during the nine months ended July 31, 2025. The type of risk exposure and the way in which such exposure is managed is provided as follows: Credit Risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. Financial instruments that potentially subject the Company to concentrations of credit risks consist principally of cash. To minimize the credit risk the Company places these instruments with a high credit quality financial institution. Liquidity Risk Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The Company currently settles its financial obligations out of cash. The ability to do this relies on the Company raising equity financing in a timely manner and by maintaining sufficient cash in excess of anticipated needs and to meet the Company’s liabilities. The Company’s accounts payable and accrued liabilities and loans payable outstanding as at July 31, 2025 are due within one year. The Company is exposed to liquidity risk arising from the excess of its accounts payable and accrued liabilities over its available current assts and expected cash flows from operating activities. Market Risk Market risk is that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, currency risk, and other price risk. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to material interest rate risk. TANA Resources Corp. Notes to the Condensed Interim Financial Statements For the nine months ended July 31, 2025 and 2024 (in Canadian Dollars - unaudited) 16 9. FINANCIAL INSTRUMENTS (CONTINUED) Currency risk Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. --- The Company has limited transactions in other currencies and is not exposed to material currency risk. Other price risk Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk or currency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer or by factors affecting all similar financial instruments traded in the market. The Company is exposed to other price risk on its marketable securities. A fluctuation in the trading price of the marketable securities of 10% would result in a $200 change in the Company’s profit or loss. The Company's ability to raise capital to fund mineral resource exploration is subject to risks associated with fluctuations in mineral resource prices. Management closely monitors commodity prices, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company. Fair Values At July 31, 2025, the Company's financial instruments consist of cash, marketable securities, and accounts payable and accrued liabilities and loans payable. Cash and marketable securities are carried at fair value using a Level 1 fair value measurement. The carrying amount of accounts payable and accrued liabilities approximates fair value because of the short-term nature of the instrument. 10. SEGMENTED INFORMATION The Company operates in one operating segment, being the exploration for and evaluation of mineral resource properties in Canada.