SEDAR Interim Financial Statements

MIRASOL RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS December 31, 2025 (Unaudited - Expressed in Canadian Dollars) NOTICE OF NO AUDITOR REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS In accordance with National Instrument 51-102 Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of these condensed consolidated interim financial statements they must be accompanied by a notice indicating that the condensed consolidated interim financial statements have not been reviewed by an auditor. The accompanying unaudited condensed consolidated interim financial statements of the Company have been prepared by and are the responsibility of the Company's management. The Company's auditors have not performed a review of these condensed consolidated 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. Mirasol Resources Ltd. Condensed Consolidated Interim Statements of Financial Position As of December 31, 2025, and June 30, 2025 (Expressed in Canadian Funds, except where indicated) The accompanying notes are an integral part of these condensed consolidated interim financial statements Page 3 ASSETS December 31, 2025 June 30, 2025 Current Assets Cash and cash equivalents (Note 3) $ 2,246,642 $ 1,633,072 Prepaid expenses, receivables, and advances 102,608 90,930 Current portion of lease receivable (Note 9) 11,068 26,674 Due from JV partner 41,626 15,159 Marketable securities (Note 5) 93,404 46,701 2,495,345 1,812,536 Non-Current Assets Equipment (Note 7) 53,989 64,721 Right-of-use of assets (Note 8) 14,056 35,138 Exploration and evaluation assets (Note 10) 1,130,208 1,435,516 Private equity investments (Note 6) 138,665 - 1,336,918 1,535,375 Total Assets $ 3,832,263 $ 3,347,911 LIABILITIES Current Liabilities Accounts payable and accrued liabilities (Note 11b) $ 847,480 $ 764,884 Current portion of lease liability (Note 9) 25,828 62,241 Shareholder loan (Note 12c) 1,136,233 2,741,301 Total Liabilities $ 2,009,541 $ 3,568,426 EQUITY Share Capital (Note 12) $ 77,245,567 $ 74,594,675 Reserves (Note 12) 22,364,602 21,930,186 Accumulated Other Comprehensive Loss (36,756) (35,913) Deficit (97,750,691) (96,709,463) 1,822,722 (220,515) Total Liabilities and Equity $ 3,832,263 $ 3,347,911 Nature of business and going concern (Note 1) Subsequent events (Note 14) On Behalf of the Board: “ Timothy Heenan ” , Director “ Nick DeMare ” , Director Mirasol Resources Ltd. Condensed Consolidated Interim Statements of Financial Position As of December 31, 2025, and June 30, 2025 (Expressed in Canadian Funds, except where indicated) The accompanying notes are an integral part of these condensed consolidated interim financial statements Page 4 For the Three Months Ended For the Six Months Ended December 31, December 31, 2025 2024 2025 2024 Income Option Income $ 452,057 $ - $ 452,057 $ - 452,057 - 452,057 - Expenses Exploration expenditures 1,715,221 2,755,438 2,269,374 3,617,253 Business development 70,682 43,038 101,455 62,091 Marketing and investor communications 132,172 80,876 173,330 120,805 Management fees (Note 11a i) 124,303 97,983 223,074 198,498 Office and miscellaneous 71,224 61,934 120,668 120,097 Professional fees 77,187 68,887 132,202 186,495 Director fees (Note 11a iii) 12,600 18,900 18,900 37,800 Travel 1,198 756 8,254 11,563 Transfer agent and filing fees 3,813 5,26 --- 8 11,744 7,622 Share-based payments (Note 11a ii, 12b ii) 40,117 394,654 99,943 457,803 Depreciation 16,194 12,742 31,814 25,483 (2,264,711) (3,540,476) (3,190,758) (4,845,510) Loss Before Other Items (1,812,654) (3,540,476) (2,738,701) (4,845,510) Gain on disposal of exploration and evaluation assets 1,810,640 - 1,810,640 - Finance cost (Note 11c) (178,126) - (254,376) - Interest income 9,509 22,710 12,002 66,026 Interest expense (65,323) (1,593) (144,103) (3,940) Foreign exchange gain (loss) (25,187) 44,117 (15,709) 4,239 Unrealized gain (loss) on marketable securities fair value (Note 5) 25,947 (10,378) 46,703 (46,701) Other income 227,043 38,210 242,316 54,001 1,804,503 93,066 1,697,473 73,625 Net Loss for the Period $ (8,151) $ (3,447,410) $ (1,041,228) $ (4,771,885) Other Comprehensive Gain Items that will not be reclassified to profit and loss: Exchange differences on translation of foreign operations 3,587 11,243 (843) 14,253 Loss and Comprehensive Loss for the Period $ (4,564) $ (3,436,167) $ (1,042,071) $ (4,757,632) Loss per Share (Basic and Diluted) $ (0.00) $ (0.05) $ (0.01) $ (0.07) Weighted Average Number of Shares Outstanding (Basic and Diluted) 82,396,829 75,556,579 82,942,164 72,635,845 Mirasol Resources Ltd. Condensed Consolidated Interim Statement of Changes in Equity As at December 31, 2025 (Expressed in Canadian Funds, except where indicated) The accompanying notes are an integral part of these condensed consolidated interim financial statements Page 5 Share Capital Number of Common Shares Common Shares Amount Reserves Accumulated Other Comprehensive Loss Deficit Total Equity Balance – June 30, 2024 69,715,112 $69,621,548 $20,857,327 $(36,617) $(86,756,692) $3,685,566 Shares issued Private Placement (Note 12) 11,335,132 2,833,784 2,267,025 - - 5,100,809 Share issue costs (Note 12) - (127,479) - - - (127,479) Restricted shares units issued 51,250 19,475 (19,475) - - - Share-based compensation - - 457,803 - - 457,803 Foreign currency translation adjustment - - - (11,243) - (11,243) Loss for the period - - - - (4,771,885) (4,771,885) Balance – December 31, 2024 81,101,494 $72,347,328 $23,562,680 $(47,860) $(91,528,577) $4,333,571 Balance – June 30, 2025 81,851,494 $74,594,675 $21,930,186 $(35,913) $(96,709,463) $(220,515) Shares issued Private Placement (Note 12) 6,689,445 2,675,777 334,473 - - 3,010,250 Share issue costs (Note 12) - (24,885) - - - (24,885) Share-based compensation - - 99,943 - - 99,943 Foreign currency translation adjustment - - - (843) - (843) Loss for the period - - - - (1,041,228) (1,041,228) Balance – December 31, 2025 88,540,939 $77,245,567 $22,364,602 $(36,756) $(97,750,691) $1,822,722 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 6 2025 2024 Operating Activities Loss for the year $ (1,041,228) $ (4,771,885) Adjustments for: Interest income (12,002) (66,026) Interest expense 144,103 3,941 Finance cost 254,376 - Depreciation 31,814 25,483 Other (income) expense - 54,001 Share-based payments 99,943 457,803 Unrealized (gain) loss on marketable securities fair value (46,703) 46,701 Settlement of mineral property interest (138,665) - Gain on disposal of exploration and evaluation assets (1,810,640) - Unrealized foreign exchange (4,285) (4,277) (2,523,287) (4,254,259) Changes in Non-Cash Working Capital Items: Receivables and advances (11,675) (71,2 --- 00) Accounts payables and accrued liabilities 82,596 23,242 Due from joint venture partner (23,579) (29,890) Cash Used in Operating Activities (2,475,945) (4,332,107) Investing Activities Proceeds on disposition of exploration and evaluation assets 2,115,948 Interest received 10,482 64,337 Cash from mineral properties options - - Cash Provided by Investing Activities 2,126,430 64,337 Financing Activities Shareholder loan (2,000,000) - Shares issued, net of issuance costs 2,985,365 4,973,330 Lease payments, net of receipts (22,834) (27,620) Cash Provided by Financing Activities 962,531 4,945,710 Effect of Exchange Rate Change on Cash and Cash Equivalents 554 52,814 Change in Cash and Cash Equivalents 613,570 730,754 Cash and Cash Equivalents - Beginning of Year 1,633,072 2,357,497 Cash and Cash Equivalents - End of Year $ 2,246,642 $ 3,088,251 Cash and Cash Equivalents Consist of: Cash $ 2,200,642 $ 1,542,251 Cash equivalents 46,000 1,546,000 $ 2,246,642 $ 3,088,251 Supplemental Disclosure of Non-Cash Investing and Financing Transactions: Finance cost $ 254,376 $ - Residual value of warrants 334,473 - Cash paid during the period for interest $ - $ 3,941 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 7 1. Nature of Business and Going Concern Mirasol Resources Ltd. (“Mirasol” or the “Company”) is incorporated under the laws of the Province of British Columbia, Canada. The Company’s corporate registered and records office is located at 700 – 1199 Hastings Street, Vancouver, British Columbia and the head office is located at 1150-355 Burrard Street, Vancouver, British Columbia. Mirasol engages in the acquisition and exploration of mineral properties, principally located in Chile and Argentina, with the objective of identifying mineralized deposits economically worthy of subsequent development, mining or sale. These condensed consolidated interim financial statements have been prepared assuming the Company will continue on a going concern basis, which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business. As of December 31, 2025, the Company had positive working capital of $485,804 and working capital deficiency of $1,755,890 as of June 30, 2025, and has incurred losses since its inception and expects to incur further losses in the development of its business. The ability of the Company to continue as a going concern depends upon its ability to raise additional equity and to seek joint venture partners. Additional capital may be sought from existing shareholders loans, and from the sale of additional common shares, assets, other equity or debt instruments. As the Company is in the exploration and evaluation stage, the Company has not identified a known body of commercial grade mineral on any of its properties. The business of mining and exploration involves a high degree of risk and there can be no assurance that current exploration programs will result in profitable mining operations. The Company has no source of revenue and has significant cash requirements to meet its administrative overhead and maintain its exploration and evaluation assets. The recovery of the Company’s exploration and evaluation assets is dependent on the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary --- financing to complete the development of these properties, and future profitable production or proceeds from disposition of exploration and evaluation assets. These material uncertainties may cast significant doubt about the Company’s ability to continue as a going concern. While the Company has been successful in the past with its financing efforts, there can be no assurance that it will be able to do so in the future. 2. Basis of Presentation Statement of Compliance The condensed consolidated interim financial statements of the Company have been prepared in accordance with IFRS accounting as issued by the International Accounting Standards Board (“IASB”). These condensed consolidated interim financial statements were prepared in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. They do not include all of the information required for full annual financial statements. These condensed consolidated interim financial statements should be read in conjunction with the Company’s annual consolidated financial statements for the years ended June 30, 2025 and 2024. The Board of Directors approved the condensed consolidated interim financial statements on February 27, 2026. Basis of Measurement These condensed consolidated interim financial statements have been prepared on a historical cost basis. Financial instruments classified as financial instruments at fair value through profit or loss are stated at their fair value. In addition, these consolidated financial statements have been prepared using the accrual basis of accounting except for the cash flow information. Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 8 2. Basis of Presentation (Cont’d…) Significant Accounting Estimates and Judgments The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, profit and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. In preparing these condensed consolidated interim financial statements, the significant judgments made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty were the same as those applied to the consolidated financial statements for the years ended June 30, 2025 and 2024. Recent Accounting Pronouncements and Adoptions Classification of liabilities as current or non-current (Amendments to IAS 1) The IASB has published Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) which clarified the guidance on whether a liability should be classified as either current or non-current. The amendments: (i) Clarify that the classification of liabilities as current or non-current should only be based on rights that are in place “at the end of the reporting period”; (ii) Clarify that classification is unaffected by expectations about whether an entity will exercise its right to defer settlement of a liability; and (iii) Make clear that --- settlement includes transfers to the counterparty of cash, equity instruments, other assets or services that result in extinguishment of the liability. The amendment was applied effective July 1, 2024, and did not have a material impact on the Company's financial statements. The IASB issued certain new accounting standards or amendments that are mandatory for accounting periods beginning on or after January 1, 2024, including amendments to IFRS 16 "Leases", amendments to IAS 7 "Statement of Cash Flow" and IFRS 7 "Financial Instruments Disclosures". The new accounting standards or amendments were applied effective July 1, 2024, and did not have a material impact on the Company's financial statements. IAS 21 - Lack of Exchangeability Effective for annual reporting periods beginning on or after January 1, 2025. These amendments clarify the accounting for transactions when the exchange rate is not observable, including the determination of the exchange rate to apply and related disclosures. Although the Company has subsidiaries in Argentina and Chile, where foreign exchange restrictions may exist, the adoption of this amendment did not have a material impact on its condensed consolidated interim financial statements. Amendments to the SASB Standards to Enhance Their International Applicability Effective for annual reporting periods beginning on or after January 1, 2025. These amendments are designed to improve the global consistency and comparability of sustainability-related disclosures. The adoption of these amendments did not have a material impact on the Company’s condensed consolidated interim financial statements. Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 9 2. Basis of Presentation (Cont’d…) New accounting standards issued but not yet effective IFRS 18 - Presentation and Disclosure in Financial Statements IFRS 18 is effective for reporting periods beginning on or after January 1, 2027. It introduces several new requirements that are expected to impact the presentation and disclosure of most, if not all, entities, including new requirements for income statement structure, defined subtotals, enhanced aggregation and disaggregation, and disclosure of management-defined performance measures. The Company is in the process of assessing the impact on the financial statements of the new standard. 3. Cash and Cash Equivalents Cash and cash equivalents comprise of cash and short-term redeemable Guaranteed Investment Certificates (“GIC”) placed with major Canadian financial institutions. Maturity dates of these GICs are within one year. 4. Prepaid Expenses, Receivables and Advances Prepaid expenses, amounts and other receivables are summarized in the following table: December 31, 2025 June 30, 2025 Goods and services tax receivable $ 6,226 $ 3,219 Other receivables and advances 23,593 32,211 Prepaid expenses 72,786 55,500 $ 102,605 $ 90,930 5. Marketable Securities Common shares: Fair value change: At June 30, 2024 $ 83,024 Additions - Fair value change (36,323) At June 30, 2025 46,701 Fair value change 46,703 At December 31, 2025 $ 93,404 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 10 5. Marketable Securities (Cont’d…) The Company holds --- 1,037,794 common shares (June 30, 2025 – 1,037,794) of Silver Sands Resources Corp. (“Silver Sands”). As of December 31, 2025, the market price of the Silver Sands shares was $0.09 per share (June 30, 2025 - $0.045). Accordingly, the Company recorded an unrealized fair value gain of $46,703 (December 31, 2024 – loss of $46,701) in the condensed consolidated interim statement of loss and comprehensive loss. 6. Private equity investments During the quarter ended as of December 31, 2025, the Company received 758,000 shares of Copper Bay Resources (“Copper Bay”) that were received as settlement agreement in regards the Rubi project (note 10 d)). The shares were recorded at cost of AUD $0.20 per share, for a total value of $138,665. The investment has been classified as a financial asset measured at fair value through profit or loss. Subsequent to initial recognition, changes in fair value are required to be recognized in profit or loss. As at December 31, 2025, no subsequent remeasurement adjustment was recorded, as the fair value of the shares did not materially differ from their initial recognition amount. 7. Equipment Exploration Equipment Computer Hardware Total Cost Balance as at June 30, 2024, June 30, 2025, and December 31, 2025 $ 757,452 $ 104,126 $ 861,578 Accumulated Depreciation Balance as at June 30, 2024 $ 678,977 $ 90,142 $ 769,119 Depreciation for the year 23,581 4,157 27,738 Balance as at June 30, 2025 $ 702,558 $ 94,299 $ 796,857 Depreciation for the period 8,809 1,923 10,732 Balance as at December 31, 2025 $ 711,367 $ 96,222 $ 807,589 Carrying Amounts As at June 30, 2025 $ 54,894 $ 9,827 $ 64,721 As at December 31, 2025 $ 46,085 $ 7,904 $ 53,989 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 11 8. Right-of-Use of Assets Right of Use Assets Cost: At June 30, 2024 $ 220,739 Additions 42,165 At June 30, 2025 and December 31, 2025 262,904 Depreciation: At June 30, 2024 $ 201,384 Charge for the year 26,382 At June 30, 2025 227,766 Charge for the period 21,082 At December 31, 2025 $ 248,848 Net Book Value: At June 30, 2025 $ 35,138 At December 31, 2025 $ 14,056 Depreciation of right-of-use assets is calculated using the straight-line method over the remaining lease term. 9. Lease Liability and Lease Receivable Lease Liability December 31, 2025 June 30, 2025 Beginning balance $ 62,241 $ 74,000 Additions - 73,788 Lease payments made (39,960) (92,163) Interest expense 3,547 6,616 $ 25,828 $ 62,241 Less: current portion (25,828) (62,241) Non-current portion $ - $ - The Company’s lease agreement has a remaining term of less than twelve months; therefore, no non-current portion has been presented. The following are the remaining minimum lease payments: Period Amount Payable In 1 year $26,640 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 12 9. Lease Liability and Lease Receivable (Cont’d…) Lease Receivable December 31, 2025 June 30, 2025 Beginning balance $ 26,674 $ 31,720 Additions - 31,624 Lease payments made (17,126) (39,500) Interest income 1,520 2,836 $ 11,068 $ 26,674 Less: current portion (11,068) (26,674) Non-current portion $ - $ - The Company’s sub-lease agreement has a remaining term of less than twelve months; therefore, --- no non-current portion has been presented. The following are the remaining minimum lease receivable: Period Amount Receivable In 1 year $11,417 10. Exploration and Evaluation Assets The Company owns 100% of the mineral exploration rights to a large portfolio of properties focused in two mining regions, namely the Atacama region in northern Chile and the Santa Cruz Province in southern Argentina. As well, the Company holds several other properties in the San Juan and Catamarca provinces of northern Argentina. The Company also focuses on generative exploration to identify and acquire new prospects. A reconciliation of capitalized acquisition costs is as follows: Acquisition Costs Balance at June 30, 2025 Cost Write-offs and Recoveries Balance at December 31, 2025 Chile Rosita property $ 105,659 $ - $ - $ 105,659 Argentina Virginia property 1,024,549 - - 1,024,549 Sascha-Marcelina 305,308 - (305,308) - $ 1,435,516 $ - $ (305,306) $ 1,130,208 Balance at June 30, 2024 Cost Write-offs and Recoveries Balance at June 30, 2025 Chile Gorbea belt $ 171,777 $ - $ (171,777) $ - Rosita property 39,322 66,337 - 105,659 Argentina Virginia property 1,024,549 - - 1,024,549 Sascha-Marcelina 305,308 - - 305,308 $ 1,540,956 $ 66,337 $ (171,777) $ 1,435,516 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 13 10. Exploration and Evaluation Assets (Cont’d…) a) Sascha–Marcelina – Option to Sell and Completion of Transaction On August 13, 2025, the Company entered into a binding Heads of Agreement (the “Agreement”) under which Andara Mining Pty Ltd (“Andara”), an entity subsequently subject to acquisition by Pursuit Minerals Limited (“Pursuit”), obtained an exclusive right to acquire the mineral rights within the Company’s 100% owned Sascha Project and to receive the assignment of the Company’s Option to Purchase Agreement on the Marcelina Project (together, the “Sascha-Marcelina Projects”). Under the Agreement, Andara could acquire an undivided 100% interest in the consolidated project for total consideration of US$1.5 million. In December, 2025, the Company completed the transaction, after all conditions precedent under the Agreement were satisfied or waived, including execution of the Royalty Deed, assignment and assumption of the Marcelina Option Agreement with Minera Piuquenes S.A., regulatory approvals, and Pursuit’s shareholder approval on November 24, 2025. At completion, the Company received the US$1.5 million cash consideration, including credit for the prior deposit of US$50,000, and Andara—subsequently under Pursuit—assumed all remaining financial obligations under the Marcelina Option Agreement. The Company has been fully released from any future commitments under the option structure. The Company retains a 1.5% NSR royalty, of which Pursuit (through Andara) has an option—but not an obligation— to repurchase 0.75% for US$1.5 million and the remaining 0.75% for an additional US$1.5 million (US$3 million in total). Furthermore, if the Company decides to sell the royalty, or receives a purchase offer from a third party, Pursuit has a right of first offer to match the terms of such sale. The retained royalty interest has not been recognized as an asset, as its fair value cannot be reliably measured at this early stage of project development. In connection with the completion of the transaction, the Compan --- y wrote-off exploration and evaluation assets related to the Sascha–Marcelina Projects with a carrying value of $305,308, which were included in the determination of the gain on disposal. b) Virginia Project – Option to Sell In November 2025, the Company entered into a definitive agreement (“Definitive Agreement”) with Ampere Metals Pty Ltd (“Ampere Metals”) for the sale of its mineral rights and landholdings within the Virginia Project (“Virginia”) located in Santa Cruz Province, Argentina. Under the terms of the Definitive Agreement, Mirasol has granted Ampere Metals an initial option to acquire 51% of the Virginia Project for total consideration of US$4 million, and a further option to acquire the remaining 49% for total consideration of US$4 million. Mirasol will retain a 2% net smelter royalty. First Option (US$ 4.0 million over 3.5 years): • US$ 50,000 on signing the Memorandum of Understanding (“MOU”) (received) • US$ 300,000 on signing Definitive Agreement (received) • US$ 900,000 on the earlier of i) five months after signing Definitive Agreement, and ii) listing of Ampere Metals common shares on a recognized stock exchange • US$ 600,000 one year after signing Definitive Agreement • US$ 450,000 two years after signing Definitive Agreement • US$ 450,000 two and one-half years after signing Definitive Agreement • US$ 625,000 three years after signing Definitive Agreement • US$ 625,000 three and one-half years after signing Definitive Agreement Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 14 10. Exploration and Evaluation Assets (Cont’d…) b) Virginia Project – Option to Sell (Cont’d…) Second Option (US$ 4.0 million over 3.5 years): • US$ 1 million four and one-half years after signing Definitive Agreement • US$ 1 million five and one-half years after signing Definitive Agreement • US$ 1 million six and one-half years after signing Definitive Agreement • US$ 1 million seven years after signing Definitive Agreement • Mirasol retains 2.0% NSR (Net Smelter Return) royalty Upon exercise of the second option, Ampere Metals will have earned 100% interest in Virginia and Mirasol will retain a 2% NSR royalty. Mirasol will have the right to either sell the 2.0% NSR royalty to Ampere Metals for US$2 million which Ampere Metals is obligated to purchase. Alternatively, if Mirasol elects to retain the 2.0% NSR royalty Ampere Metals will have the right, but not the obligation to purchase 1.5% NSR royalty for US$ 3.0 million or the entire 2.0% NSR royalty for US$ 4.0 million. If Ampere exercises the first option for 51% but fails to make all payments to exercise the second option, it shall be required to transfer its 51% interest to Mirasol in exchange for a 1% NSR royalty. Mirasol will have the right, but not the obligation, to purchase the 1% NSR royalty for US$2.5 million for a period of two years following commencement of commercial production. c) Mendoza Portfolio In November, 2025, the Company entered into a binding term sheet with Argentina Metals Corp. (“Argentina Metals”) providing for the sale of its Mendoza Portfolio, comprising certain mineral rights located in the Province of Mendoza, Argentina. Total consideration for the transaction is US$50,000 in cash and 1,300,000 common shares of Argentina Metals Corp. The cash consideration consists of US$25,000 (received) and an additional --- US$25,000 payable at closing. The share consideration is to be issued in three tranches as follows: • 433,333 common shares issued at closing (note14); • 433,333 common shares issuable upon registration of the transfer of the mineral rights with the Mendoza Mining Authority; and • 433,334 common shares issuable on the earlier of i. The first anniversary of closing and ii. The listing of Argentina Metals Corp.’s common shares on a recognized Canadian stock exchange. The consideration shares are deemed to have a value of $0.50 per share, for an aggregate implied value of $650,000. Following completion of the transaction, Mirasol retains no interest in the Mendoza Portfolio. d) Rubi Project During the period ended December 31, 2025, the Company executed a Deed of Settlement with MDF Global Limited ACN and MDF Copper Chile Pty Ltd in relation to the Rubi Project option agreement dated June 19, 2020. Under the settlement terms, the Company received US$50,000 in cash and 758,000 common shares of Copper Bay Resources Ltd issued at A$0.20 per share in full and final settlement of all outstanding obligations. Upon execution of the Deed, the option agreement was terminated, and the parties mutually released all claims related to the project. The consideration received was recorded as investment income ($138,665 note 6). Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 15 10. Exploration and Evaluation Assets (Cont’d…) e) Impairment of Gorbea Belt Exploration Project During the year ended June 30, 2025, the Company recognized an impairment charge of $171,777 related to its Gorbea Belt exploration project in Chile. The impairment was recorded after management determined that certain exploration costs were not expected to be recovered based on current exploration results and future plans for the property. 11. Related Party Transactions Details of the transactions between the Company’s related parties are disclosed below. a) Compensation of Key Management Personnel Key management personnel include persons having the authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. Key management personnel consist of the Company’s Directors and Officers. The remuneration of management and independent directors was as follows: For the Three Months Ended For the Six Months Ended December 31, December 31, 2025 2024 2025 2024 Management compensation (i) $ 136,448 $ 153,699 $ 257,835 $ 308,075 Share-based payments (ii) 16,198 240,629 34,005 282,168 Director’s fees (iii) 18,900 18,900 25,200 37,800 $ 171,546 $ 413,228 $ 317,040 $ 628,043 i. Management compensation is included in management fees (2025 - $206,723; 2024 - $250,644), in business development & IR (2025 – 9,416; 2024 – $nil), and in exploration expenditures (2025 – $41,696; 2024 - $57,431) in the Company’s condensed consolidated interim statements of loss and comprehensive loss. ii. Share-based payments are included in the share-based payments expense in the Company’s condensed consolidated interim statements of loss for the period ended December 31, 2025, and 2024. iii. The independent directors of the Company were paid $2,100 per month (2024 - $2,100 per month). The independent directors waive their fees for the months of July and August 2025. b) Transactions With Other Related Parties Certain of the --- Company’s officers and directors render services to the Company as sole proprietors or through companies in which they are an officer, director, or partner. The following companies are related parties through association of the Company’s directors and officers: Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 16 11. Related Party Transactions (Cont’d…) b) Transactions With Other Related Parties (Cont’d…) Nature of transactions Max Pinsky Personal Law Corporation Legal fees Chase Management Ltd. Professional fees The Company incurred the following fees and expenses with related parties as follows: For the Three Months Ended For the Six Months Ended December 31, December 31, 2025 2024 2025 2024 Legal fees $ 39,038 $ 13,080 $ 71,752 $ 26,594 $ 39,038 $ 13,080 $ 71,752 $ 26,594 Legal fees are included in professional fees (2025 - $61,602; 2024 - $26,594). Included in accounts payable and accrued liabilities at December 31, 2025, is an amount of $46,590 (June 30, 2025 - $37,160) owing to directors and officers of the Company and to companies where the directors and officers are principals. c) Shareholder Loan On March 14, 2025, the Company received regulatory approval for a loan of up to $2,000,000 from a director of the Company (the “Lender”). In June 25, 2025, the Company received regulatory approval to increase the loan up to $3,000,000. The Loan bears interest at 10% per annum, payable at the end of one year, may be repaid at any time without penalty, and is secured by a General Security Agreement. In connection with the Loan, the Company issued to the Lender a total of 750,000 common shares as a loan bonus with a fair market value of $305,000. During the year ended June 30, 2025, the Company drew down the full amount of the loan. The total amount outstanding at December 31, 2025 and June 30, 2025 are as follows: December 31, 2025 June 30, 2025 Opening balance $ 2,741,301 $ - Loan advances - 3,000,000 Payments (2,000,000) - Transaction costs - (305,000) Interest expense 140,556 46,301 Amortization of transaction costs 254,376 - $ 1,136,233 $ 2,741,301 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 17 12. Share Capital a) Authorized Share Capital The Company’s authorized share capital consists of an unlimited number of common shares without par value. All issued common shares are fully paid. As at December 31, 2025 the Company had 88,540,939 common shares outstanding. i. Financing Financing during the period ended December 31, 2025, was as follows: In December, 2025, the Company completed a non-brokered private placement financing issuing 6,689,445 units at a price of $0.45 per unit for aggregate gross proceeds of $3,010,250. Each unit consisted of one common share and one-half of one non-transferable common share purchase warrant. Each full warrant entitles the holder to acquire one additional common share at an exercise price of $0.60 per share for a period of twelve months from the closing date. The securities issued are subject to a four-month statutory hold period in accordance with applicable securities legislation. In connection with the private placement, the Company paid finder’s fees of $13,932 and $10,963 for regulatory and other --- related fees, which were accounted for as share issuance costs and recorded as a reduction of share capital. Two directors and one officer of the Company participated in the private placement and were issued an aggregate of 3,350,556 units. Financing during the year ended June 30, 2025, was as follows: In November 2024, the Company completed a non-brokered private placement issuing 11,335,132 units at a price of $0.45 for aggregate gross proceeds of $5,100,809. Each unit comprised of one common share and one-half of a non-transferable common share purchase warrant. Each full warrant is exercisable into one common share at a price $0.60 for one year from closing date. The Company incurred $29,937 in cash finder’s fees, and $97,542 for regulatory and other related fees. b) Share Purchase Options (“Options”) The Company has established a share purchase option plan (the “Plan”) whereby the Board of Directors may, from time to time, grant Options to directors, officers, employees, and consultants under the long-term incentive plan. Options granted must be exercised no later than five years from the date of grant or such lesser period as determined by the Company’s Board of Directors. The exercise price of an Option is equal to or greater than the closing market price on the TSX Venture Exchange (“TSXV”) on the day preceding the date of grant. The vesting terms for each grant are set by the Board of Directors. The Plan provides that the aggregate number of shares reserved for issuance shall not exceed 10% of the total number of issued and outstanding shares. At December 31, 2025, a total of 8,854,094 Options were reserved under the Plan with 6,872,500 Options outstanding. i. Movements in Share Purchase Options During the Year A summary of the Company’s share purchase options and the changes for the period ended at December 31, 2025 and June 30, 2025 are as follows: Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 18 12. Share Capital (Cont’d…) b) Share Purchase Options (“Options”) (Cont’d…) Number of Options Weighted Average Exercise Price Options outstanding as at June 30, 2024 5,761,250 $0.56 Granted 1,586,250 $0.55 Expired / Forfeited (575,000) $0.56 Options outstanding as at June 30, 2025 6,772,500 $0.55 Granted 100,000 $0.35 Options outstanding as at December 31, 2025 6,872,500 $0.55 Options exercisable as at December 31, 2025 6,406,438 $0.55 ii. Fair Value of Share Purchase Options Granted During the three and six months ended December 31, 2025, the Company recognized share-based compensation expense of $40,117 and $99,943, respectively (2024 – $394,654 and $457,803). During the period ended December 31, 2025, the Company granted 100,000 shares purchase options to directors, management, employees and consultants (2024 – 1,586,250). The weighted-average fair values of stock options granted, and the assumptions used to calculate the related compensation expense for the periods ended December 31, 2025, and 2024, were estimated using the Black- Scholes Option Pricing Model with the following assumptions: iii. Share Purchase Options Outstanding at the End of the Period December 31, 2025 December 31, 2024 Expected dividend yield 0.0% 0.0% Expected share price volatility 104.39% 105.25% Risk-free interest rate 2.84% 2.93% Expected life of options 4.5 years 4.5 years Fair value of options grante --- d (per share option) $0.35 $0.41 A summary of the Company’s options outstanding as at December 31, 2025 is as follows: Expiry Date Exercise price $ Options Outstanding Weighted Average Remaining Life of Options (years) Options Exercisable September 14, 2026 0.34 2,151,250 0.70 2,151,250 May 1, 2027 0.80 200,000 1.33 200,000 December 30, 2027 0.68 1,271,250 2.00 1,271,250 December 22, 2028 0.72 1,563,750 2.98 1,563,750 December 17, 2028 0.55 1,586,250 3.96 1,170,188 September 1, 2030 0.35 100,000 4.75 50,000 6,872,500 6,406,438 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 19 12. Share Capital (Cont’d…) c) RSU Plan On June 17, 2025, the shareholders approved an RSU Plan (the “RSU Plan”). The RSU Plan was also approved by the Board of Directors on June 17, 2025, and by the TSXV on July 31, 2025. The RSU Plan provides for the issuance of up to 1,000,000 restricted share units (the “RSUs”). Under the RSU Plan, RSUs may be granted to directors, officers, employees and consultants of the Company (excluding investor relations consultants) as partial compensation for the services they provide to the Company. The RSU Plan is a fixed number Plan, and independent of the number of Options available under the Company’s stock option plan. During the period ended December 31, 2025, the Company issued nil RSUs (2024 – 51,250). The associated compensation cost, which is based on the underlying share price on the date of grant, is recorded as share based payments expense against share based payment reserve. During the period ended December 31, 2025, the Company recognized $Nil (2024 - $Nil) respectively, as share-based payments. As of December 31, 2025, Nil RSUs were outstanding (June 30, 2025 – Nil). d) Warrants In December 2025, the Company issued 3,344,725 of share purchase warrants with an exercise price of $0.60 expiring December 16, 2026. These warrants were outstanding as of December 31, 2025 (June 30 2025 – 5,667,563). The share purchase warrants were issued in connection with the Company’s private placement from December 2025 (note 12 a (i)). The Company recorded $334,473 residual value relating to the warrants. Number of Warrants Weighted Average Exercise Price Warrants outstanding as at June 30, 2024 1,943,776 $0.80 Expired (1,943,776) $0.80 Granted 5,667,563 $0.60 Warrants outstanding as at June 30, 2025 5,667,563 $0.60 Expired (5,667,563) $0.60 Granted 3,344,725 $0.60 Warrants outstanding as at December 31, 2025 3,344,725 $0.60 Warrants exercisable as at December 31, 2025 - - 13. Segmented Information The Company’s business consists of a single reportable segment being mineral property acquisition and exploration. Details on a geographical basis are as follows: Total Non-Current Assets December 31, 2025 June 30, 2025 Canada $ 21,310 $ 43,672 Argentina 1,052,168 1,363,187 Chile 124,775 128,516 $ 1,198,253 $ 1,535,375 Mirasol Resources Ltd. Notes to the Condensed Consolidated Interim Financial Statements For the Six Months Ended December 31, 2025, and 2024 (Expressed in Canadian Funds, except where indicated) Page 20 14. Events After the Reporting Period a) On January 22, 2026, the Company signed a definitive agreement with Argentina Metals Corp. and received 433,333 common shares in connection with a transaction pursuant to which the Company agreed to dispose of its Mendoza portfolio of mini --- ng properties (note 10c). b) Subsequent to December 31, 2025, the Company received proceeds of $19,125 upon the exercise of 56,250 stock options at an exercise price of $0.34 per share, resulting in the issuance of 56,250 common shares.