SEDAR Interim Financial Statements

ROCKLAND RESOURCES LTD. Condensed Interim Consolidated Financial Statements For the three months ended December 31, 2025 (Unaudited – Prepared by Management) (Expressed in Canadian Dollars) 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 consolidated financial statements, they must be accompanied by a notice indicating that the condensed interim consolidated financial statements have not been reviewed by an auditor. The accompanying unaudited condensed interim consolidated financial statements have been prepared by and are the responsibility of the management. The Company's independent auditor has not performed a review of these condensed interim consolidated financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of condensed interim consolidated financial statements by an entity's auditor. ROCKLAND RESOURCES LTD. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited – Prepared by Management) (Expressed in Canadian Dollars) AS AT December 31, 2025 September 30, 2025 ASSETS Current Cash $ 182,888 $ 23,124 Amounts receivable 21,426 8,669 Prepaid expenses and deposits 343,675 42,855 Current assets 547,989 74,648 Non-current assets Reclamation bond (Note 6) 88,058 89,213 Exploration and evaluation assets (Note 6) 1,902,103 1,846,080 TOTAL ASSETS $ 2,538,150 $ 2,009,941 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Accounts payable and accrued liabilities $ 92,893 $ 83,772 Due to related parties (Note 8) 5,250 83,550 Current liabilities 98,143 167,322 Non-current liabilities Asset retirement obligation (Note 6) 24,040 24,445 Total Liabilities 122,183 191,767 Shareholders’ equity Share capital (Note 7) 9,248,758 8,414,105 Reserves (Note 7) 1,467,845 1,414,698 Deficit (8,300,636) (8,010,629) Total shareholders’ equity 2,415,967 1,818,174 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 2,538,150 $ 2,009,941 Nature and continuance of operations (Note 1) Subsequent events (Note 10) Approved and authorized on behalf of the Board on February 27, 2026. “Mike England” Director “Will Rascan” Director Mike England Will Rascan The accompanying notes are an integral part of these condensed interim consolidated financial statements. ROCKLAND RESOURCES LTD. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Unaudited – Prepared by Management) (Expressed in Canadian Dollars) Three months ended December 31, 2025 2024 EXPENSES Consulting fees (Note 8) $ 61,070 $ 40,870 Filing and transfer agent fees 11,952 9,440 Management fees (Note 8) 36,000 36,000 Office and miscellaneous 7,478 491 Professional fees 27,897 28,136 Share-based payments (Notes 7 and 8) 70,600 - Travel and promotion 45,710 20,000 (260,707) (134,937) OTHER ITEMS Change in fair value of marketable securities (Note 5) - (30,225) Write-off of exploration and evaluation assets (Note 6) (29,300) (10) Net loss and comprehensive loss for the period $ (290,007) $ (165,172) Basic and diluted loss per common share $ (0.01) $ (0.01) Weighted average number of common shares outstanding (basic and diluted) 39,025,492 14,779,558 The accompanying notes are an integral part of these condensed interim consolidated financial statements. ROCKLAND RESOURCES LTD. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited – Prepared by Management) (Expressed in Canadian Dollar --- s) Three months ended December 31, Share capital Shares Amount Reserves Share subscription received in advance Deficit Total Balance, September 30, 2024 14,779,558 $ 7,235,059 $ 1,105,698 $ - $ (5,676,848) $ 2,663,909 Shares subscription received in advance - - - 66,000 - 66,000 Net loss for the period - - - - (165,172) (165,172) Balance, December 31, 2024 14,779,558 7,235,059 1,105,698 66,000 (5,842,020) 2,564,737 Shares subscription received in advance - - - (66,000) - (66,000) Units for private placement 18,056,667 993,400 - - - 993,400 Shares issued for debt settlement 3,450,000 258,750 - - - 258,750 Share issue costs – cash - (43,304) - - - (43,304) Share-based payments - - 235,200 - - 235,200 Share issue costs - warrants - (29,800) 29,800 - - - Warrants granted for exploration and evaluation of assets - - 44,000 - - 44,000 Net loss for the period - - - - (2,168,609) (2,168,609) Balance, September 30, 2025 36,286,225 8,414,105 1,414,698 - (8,010,629) 1,818,174 Units for private placement 10,577,500 786,200 - - - 786,200 Exercise of options 250,000 37,953 (17,453) - - 20,500 Exercise of warrants 105,000 10,500 - - - 10,500 Share-based payments - - 70,600 - - 70,600 Net loss for the period - - - - (290,007) (290,007) Balance, December 31, 2025 47,218,725 $ 9,248,758 $ 1,467,845 $ - $ (8,300,636) $ 2,415,967 The accompanying notes are an integral part of these condensed interim consolidated financial statements. ROCKLAND RESOURCES LTD. CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited – Prepared by Management) (Expressed in Canadian Dollars) For the three months ended December 31, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net loss for the period $ (290,007) $ (165,172) Items not affecting operating cash: Share-based payment 70,600 - Foreign exchange 753 - Change in fair value of marketable securities - 30,225 Write – off exploration and evaluation cost - 10 Changes in non-cash working capital items: Amounts receivable (12,757) (3,304) Prepaid expenses and deposits (300,820) - Accounts payable and accrued liabilities (2,673) 66,571 Due to related parties (71,550) 26,800 Net cash used in operating activities (606,454) (44,870) CASH FLOWS FROM INVESTING ACTIVITIES Exploration and evaluation expenditures (50,982) (15,266) Proceeds from sale of marketable securities - 10,425 Net cash used in investing activities (50,982) (4,841) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from private placements 786,200 Share subscription received in advance - 66,000 Exercise of options 37,953 - Exercise of warrants 10,500 Repayment from loan payable - (12,000) Net cash provided by financing activities 834,653 54,000 Change in cash for the period 177,217 4,289 Cash, beginning of period 23,124 58,397 Cash, end of period $ 200,341 $ 62,686 Supplementary disclosure with respect to cash flows Exploration and evaluation expenditures in accounts payable $ - $ 6,089 Exercise of options (17,453) $ - The accompanying notes are an integral part of these condensed interim consolidated financial statements. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 1. Nature and continuance of operations Rockland Resources Ltd. (the “Company”) was incorporated on April 29, 2020 under the laws of the Province of British Columbia, Canada, and its principal activity is the acquisition and exploration of mi --- neral properties in Canada. The Company’s corporate office and principal place of business of the Company is 789 West Pender Street, Suite 1240, Vancouver, British Columbia, Canada, V6C 1H2. The Company is traded on the Canadian Securities Exchange (the “CSE”) under the symbol “RKL”. The Company is in the business of exploring its mineral exploration assets and has not yet determined whether these properties contain ore reserves that are economically recoverable. As at December 31, 2025, the Company was in the exploration stage and had interests in properties in Canada and United States. Effective December 3, 2024, the Company consolidated its common shares on a 5:1 basis. All share and per share amounts in the consolidated financial statements have been retroactively restated to reflect the share consolidation. Effective April 22, 2025, the Company began trading on OTCQB under the symbol “BERLF” as well as on the Frankfurt Stock Exchange under the symbol “GB2”. Going concern These condensed interim consolidated financial statements have been prepared on a going concern basis, which presumes the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. The ability of the Company to continue as a going concern and the recoverability of the amounts shown for exploration and evaluation assets are dependent upon the existence of economically recoverable reserves, the ability of the Company to obtain necessary financing to complete the development, and upon future profitable production or proceeds from the disposition thereof. The Company has sustained losses from operations and expects to incur further losses in the development of its business and has an ongoing requirement for capital investment to explore its exploration and evaluation assets. As at December 31, 2025, the Company had a working capital of $449,846 (September 30, 2025 – deficit of $92,674). Based on its current plans, budgeted expenditures, and cash requirements, the Company has sufficient cash to finance its current plans. The continuing operations of the Company are dependent upon its ability to continue to raise adequate financing and to commence profitable operations in the future and repay its liabilities arising from normal business operations as they become due. The Company expects that it will need to raise substantial additional capital to accomplish its business plan over the next several years. The Company expects to seek additional financing through equity financing. There can be no assurance as to the availability or terms upon which such financing might be available. The Company’s business may be affected by changes in political and market conditions, such as interest rates, availability of credit, inflation rates, tariffs, changes in laws, and national and international circumstances. Recent geopolitical events and potential economic global challenges such as the risk of higher inflation and energy crises, may create further uncertainty and risk with respect to the prospects of the Company’s business. These condensed interim consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities, the reported expenses, and the consolidated statements of financial position classifications used, that would be necessary if the Company were unable to realize its assets and settle its liabilities as a going concern in the normal course of operations. Such adjustments co --- uld be material. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 2. Basis of preparation The condensed interim consolidated financial statements were authorized for issue on February 27, 2026 by the directors of the Company. Basis of preparation The condensed interim consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, except for financial instruments classified as fair value through profit or loss (“FVTPL”), which are stated at their fair value. The condensed interim consolidated financial statements are presented in Canadian dollars, which is the Company’s functional currency, unless otherwise noted. Statement of compliance The condensed interim consolidated financial statements of the Company have been prepared in accordance with IFRS Accounting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”). Therefore, these condensed interim consolidated financial statements comply with the International Accounting Standard (“IAS”) 34 “Interim Financial Reporting”. Basis of consolidation These condensed interim consolidated financial statements include the accounts of the Company and its subsidiary as at December 31, 2025. Where the Company has the power, either directly or indirectly, to govern the financial and operating policies of another entity or business so as to obtain benefits from its activities, it is classified as a subsidiary. The consolidated s present the results of the Company and its subsidiary as if they formed a single entity. All inter-company transactions and balances between the companies are therefore eliminated in full. The Company incorporated a wholly-owned subsidiary, Rockland Lithium Corp., on September 8, 2022 in the State of Utah. The Company holds a 100% interest in Rockland Lithium Corp. during the years ended December 31, 2025 and 2024. These condensed interim consolidated financial statements include the accounts of Rockland Lithium Corp. Comparative figures Certain comparative figures have been reclassified to conform with the current year presentation. There were no impacts on the profit or loss. 3. Significant accounting judgments and estimates The preparation of condensed interim consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, revenue and expenses. Significant accounting judgments Information about critical judgments in applying accounting policies that have the most significant risk of causing material adjustment to the carrying amounts of assets and liabilities recognized in the condensed interim consolidated financial statements are discussed below: ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 3. Significant accounting judgments and estimates (cont’d) i) Going concern The assessment of the Company’s ability to continue as a going concern involves judgment regarding future funding available for its exploration projects and working capital requirements. ii) Exploration a --- nd evaluation assets The net carrying value of each mineral property is reviewed regularly for conditions that suggest impairment. This review requires significant judgment. Factors considered in the assessment of asset impairment include, but are not limited to, whether substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is budgeted or planned; whether there has been a significant adverse change in the legal, regulatory, accessibility, title, environmental or political factors that could affect the property’s value; whether there has been an accumulation of costs significantly in excess of the amounts originally expected for the property’s acquisition, development or cost of holding; and whether exploration activities produced results that are not promising such that no more work is being planned in the foreseeable future. If impairment is determined to exist, a formal estimate of the recoverable amount is performed, and an impairment loss is recognized to the extent that the carrying amount exceeds the recoverable amount. During the year ended September 30, 2025, management determined that the Lithium Butte, Claybank Beryllium, Meteor and Pipestone properties were impaired due to lack of future exploration plan. See Note 6. 4. Material accounting policies Foreign currency translation The condensed interim consolidated financial statements are presented in Canadian dollar which is both the Company and subsidiary’s functional and presentation currency. Transactions in foreign currencies are translated at rates in effect at the time of the transaction. Monetary assets and liabilities are translated at the exchange rate prevailing at the reporting date. Gains and losses are included in profit or loss. Exploration and evaluation assets Costs incurred before the Company has obtained the legal rights to explore an area are expensed in the year in which they are incurred. Costs incurred to acquire the legal right to explore a property are capitalized. Once the legal right to explore a property has been acquired, costs directly related to exploration and evaluation expenditures are recognized and capitalized on a property-by-property basis. These direct expenditures include such costs as surveying costs, drilling costs, labor and contractor costs, materials used and licensing and permit fees. Government tax credits received are recorded as a reduction to the cumulative costs incurred and capitalized on the related property. Once the technical feasibility and commercial viability of extracting the mineral resource have been determined, the property is considered to be under development and is classified as development properties. The carrying value of exploration and evaluation assets is transferred to development properties after being tested for impairment. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 4. Material accounting policies (cont’d) Exploration and evaluation assets (cont’d) Once commercial production has commenced, all capitalized costs related to the property are transferred to producing properties and the costs of acquisition, exploration and development will be amortized over the life of the property based on estimated economic reserves. Proceeds received from the sale of any interest in a property will be credited agai --- nst the carrying value of the property, with any excess included in other income for the year. Currently, all mineral properties of the Company are at the exploration stage. Although the Company has taken steps to verify title to mineral properties in which it has an interest, in accordance with industry norms for the current stage of exploration of such properties, these procedures do not guarantee the Company’s title. Property title may be subject to unregistered prior agreements or inadvertent non-compliance with regulatory requirements. Exploration costs renounced due to flow-through share subscription agreements remain capitalized; however, for corporate income tax purpose the Company has no right to claim these costs as tax deductible expenses. Recorded costs of mineral properties and deferred exploration costs are not intended to reflect present or future values of resource properties. The recorded costs are subject to measurement uncertainty and it is reasonably possible, based on existing knowledge that changes in future conditions could require a material change in the recognized amount. Payments on mineral property option agreements are made at the discretion of the Company and, accordingly, are recorded as incurred. The Company assesses exploration and evaluation assets for impairment when facts and circumstances suggest that the carrying amount of an asset may exceed its recoverable amount. When a project is deemed to no longer have commercially viable prospects to the Company, exploration and evaluation expenditures in respect of that project are deemed to be impaired. As a result, those exploration and evaluation expenditure costs, in excess of estimated recoveries, are written off to profit or loss. Marketable securities Purchases and sales of marketable securities are recognized on the settlement date. All transaction costs associated with the acquisition and disposition of marketable securities are expensed to the consolidated statement of loss and comprehensive loss as incurred. Securities that are traded in an active market and for which no sales restrictions apply, are presented at fair value based on quoted closing trade prices at the date of consolidated statements of financial position. If there were no trades on the date of the consolidated statements of financial position, these securities are presented at the closing price on the last date the security traded. These investments are included in Level 1 of the fair value hierarchy. At the year ended September 30, 2025, the Company sold all the marketable securities. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 4. Material accounting policies (cont’d) Impairment At the end of each reporting year, the Company’s assets are reviewed to determine whether there is any indication that those assets may be impaired. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount --- rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in the profit or loss for the year. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined for the cash generating unit to which the asset belongs. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss. Decommissioning and restoration provision The Company recognizes liabilities for statutory, contractual, constructive or legal obligations associated with the retirement of exploration and evaluation assets and equipment, when those obligations result from the acquisition, construction, development or normal operation of the assets. The net present value of future rehabilitation cost estimates arising from the decommissioning of plant and other site preparation work is capitalized to mining assets along with a corresponding increase in the rehabilitation provision in the year incurred. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. The rehabilitation asset is depreciated on the same basis as mining assets. The Company’s estimates of reclamation costs could change as a result of changes in regulatory requirements, discount rates and assumptions regarding the amount and timing of the future expenditures. These changes are recorded directly to mining assets with a corresponding entry to the provision. The Company’s estimates are reviewed annually for changes in regulatory requirements, discount rates, effects of inflation and changes in estimates. Changes in the net present value, excluding changes in the Company’s estimates of reclamation costs, are charged to profit or loss for the year. Share capital The Company engages in equity financing transactions to obtain the funds necessary to continue operations and explore and evaluate resource properties. These equity financing transactions may involve issuance of common shares or units. A unit comprises a certain number of common shares and a certain number of share purchase warrants. Depending on the terms and conditions of each equity financing agreement, the warrants are exercisable into additional common shares prior to expiry at a price stipulated by the agreement. Warrants that are part of units are valued using residual value method which involves comparing the selling price of the units to the Company’s share price on the announcement date of the financing. The market value is then applied to the common share, and any residual amount is assigned to the warrants. Warrants that are issued as payment for agency fee or other transaction costs are accounted for as share-based payments and are recognized in equity. When warrants are forfeited or are not exercised at the expiry dates, the amount previously recognized in equity remains in warrant reserves. ROCKLAND RESOURCES LTD. Notes to the Condens --- ed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 4. Material accounting policies (cont’d) Share capital (cont’d) In situations where share capital is issued, or received, as non-monetary consideration and the fair value of the asset received, or given up is not readily determinable, the fair market value (as defined) of the shares is used to record the transaction. The fair market value of the shares issued, or received, is based on the trading price of those shares on the appropriate exchange on the date the shares are issued. Share issuance costs Share issue costs are deferred and charged directly to share capital on completion of the related equity financing. If the financing is not completed, share issue costs are charged to profit or loss. Costs directly identifiable with the raising of capital will be charged against the related share capital. Share-based payments Where equity-settled share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. When equity instruments are granted to non- employees, they are recorded at the fair value of the goods and services received, unless the fair value of the goods and services received cannot be reasonably measured, in which case they are measured using the fair value of the equity instruments issued. Expenses are recorded in profit or loss. Amounts related to the cost of issuing shares are recorded as a reduction of share capital. Amounts related to the issuance of shares for exploration and evaluation assets are capitalized in mineral interests on the condensed interim consolidated statements of financial position. When the value of goods or services received in exchange for the share-based payment cannot be reliably estimated, the fair value is measured by using a valuation model. All equity-settled share-based payments are reflected in share-based payments reserve, until exercised. Upon exercise, shares are issued from treasury and the amount reflected in share-based payments reserve is credited to share capital, adjusted for any consideration paid. If the options expire or are forfeited, the corresponding amount previously recorded remains in reserves. Financial instruments Financial instruments classified at fair value through profit or loss ("FVTPL") are measured at fair value. Financial instruments classified at amortized cost are initially measured at fair value and subsequently measured at amortized cost using the effective interest rate method. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 4. Material accounting policies (cont’d) Financial instruments (cont’d) A summary of the classification and measurement of the Company’s financial instruments is set out below: IFRS 9 classification Financial Asset Cash FVTPL Marketable securities FVTPL Reclamation bond Amortized cost Financial Liabilities Accounts payable and accrued liabilities Amortized cost Due to related parties Amortized cost Short-term loan Amortized cost Adoption of new accounting standards, interpretations and amendments A number of new standards, and amendments to standards and interpretations, are not effective and have not been early adopted in preparing these condensed in --- terim consolidated financial statements. The following accounting standards and amendments are effective for future periods. i) IFRS 18 Presentation and Disclosure in Financial Statements – IFRS 18 introduces three sets of new requirements to give investors more transparent and comparable information about companies’ financial performance for better investment decisions. 1. Three defined categories for income and expenses – operating, investing or financing – to improve the structure of the income statements, and require all companies to provide new defined subtotals, including operating profit; 2. Requirement for companies to disclose explanations of management-defined performance measures (MPMs) that are related to the income statement; and 3. Enhanced guidance on how to organize information and whether to provide it in the primary financial statements or in the notes. This new standard is effective for reporting periods beginning on or after January 1, 2027. The Company will be evaluating the impact of the above amendments on its condensed interim consolidated financial statements. 5. Marketable securities During the year ended September 30, 2025, the Company: • sold 100,000 common shares of Metalsource Mining Inc. (formerly Silverfish Resources Inc.) ("Metalsource”) for proceeds of $10,425 and recorded a loss on the change in fair value of marketable securities of $1,575. • sold 3,360,000 common shares of Recharge Metals Limited (“Recharge”) for proceeds of $29,158 and recorded a loss on the change in fair value of marketable securities of $59,691. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 5. Marketable securities (cont’d) Metalsource Common shares Recharge Common shares Total As of September 30, 2024 100,000 3,360,000 100,849 Proceeds on sale of Metalsource’s shares (100,000) - (10,425) Proceeds on sale of Recharge’s shares - (3,360,000) (29,158) Change in fair value - - (61,266) As of September 30, 2025 and December 31, 2025 - - $ - 6. Exploration and evaluation assets Cole Gold Mines Property (Ontario) On March 25, 2021, the Company entered into an option agreement to acquire a 100% interest in 28 mining claims located in Red Lake Mining District, Ontario. Terms of the agreement include: Cash payments: i) $10,000 upon execution of the agreement (paid); ii) $50,000 on or before April 30, 2021 (paid); iii) $100,000 on or before August 7, 2021 (paid); iv) $150,000 on or before March 25, 2022 (see amended terms below); and v) $100,000 on or before August 7, 2022 (paid). Share issuances: i) 214,286 shares on or before April 30, 2021 (issued and valued at $257,143); ii) $100,000 worth in common shares on or before August 7, 2021 (96,153 shares issued); and iii) $100,000 worth in common shares on or before August 7, 2022 (96,153 shares issued). Expenditures: i) $100,000 on or before August 7, 2021 (incurred); and ii) $200,000 on or before August 7, 2022 (incurred). The property is subject to a NSR of 2% payable to the vendors, of which 0.5% can be repurchased for a cash payment of $750,000. On January 20, 2023, the Company received an extension on the property option payments, the amended terms are as follows: i) $75,000 cash upon the executed of the agreement and the issuance of 300,000 common shares (paid, issued and valued at $105,000); and ii) $75,000 on or before April 30, --- 2023 (paid). ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 6. Exploration and evaluation assets (cont’d) Wapistan Lithium Project (Quebec) During the year ended September 30, 2023, the Company acquired a 100% interest in the Wapistan Lithium Project located within the James Bay region of Quebec by paying $400,000 and issuing 2,160,000 shares valued at $648,000. The Company also issued 216,000 common shares valued at $70,200 for finder’s fees and $40,000 cash. The property is subject to a NSR of 2% payable to the vendors, of which 1.0% can be repurchased for a cash payment of $1,000,000. The Company also entered into an agreement to option out 100% of its interest to Recharge Metals Limited (“Recharge”) for: i) $700,000 cash (received); ii) 5,000,000 shares of Recharge (received at a value of $1,317,780), of which 2,500,000 are subject to 6 months voluntary escrow until December 27, 2023 (released); and iii) $500,000 on or before September 30, 2024 (“Deferred Payment”). In the event that Recharge fail to make the Deferred Payment, Recharge will have ten business days to rectify the situation. If Recharge fails to do so, the Company may choose to terminate the agreement by giving a formal written notice. The Company also received $50,000 cash to tenure the property during the due diligence process. The Company will be granted a 2% NSR which Recharge can repurchase half for $500,000. In connection with the sale of the property, the Company paid the following finder’s fees: i) $50,000 cash (paid); ii) 500,000 shares of Recharge, of which 250,000 shares (transferred and valued at $65,889) were transferred upon receipt of the shares, and the remaining 250,000 shares were transferred after the 6 months escrow period (transferred and valued at $17,710); and iii) $50,000 cash upon receipt of the Deferred Payment. On March 1, 2025, the Company entered into an agreement to option out 100% of its interest to an arm’s length party for cash payment of $50,000 (received). ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 6. Exploration and evaluation assets (cont’d) Pipestone North Property (Ontario) On January 29, 2024, the Company entered into an option agreement to acquire a 100% interest in the Pipestone North Property located in Red Lake Mining District, Ontario. To acquire 100% interest, the Company is required to meet the following obligations: Cash payments: i) $10 on or before January 29, 2024 (paid); ii) $10,000 on or before January 29, 2025; iii) $20,000 on or before January 29, 2026; and iv) $30,000 on or before January 29, 2027. Share issuances: i) 40,000 common shares on or before January 29, 2025; ii) 60,000 common shares on or before January 29, 2026; and iii) 100,000 common shares or before January 29, 2027. Expenditures: i) $50,000 on or before January 29, 2025; ii) additional $150,000 on or before January 29, 2026; iii) additional $300,000 on or before January 29, 2027; and iv) additional $500,000 on or before January 29, 2028. The property is subject to a NSR of 1.5% payable to the vendors, of which 0.75% can be repurchased for a cash payment of $400,000. During the year ended September 30, 2025, the Company decided not to proc --- eed with the acquisition of the property and has written off the property in full, and recognized an impairment loss of $10. Utah Lithium (USA) Lithium Butte During the year ended September 30, 2022, the Company acquired 524 lode claims in Juab County, Utah which it has named the Lithium Butte project. The Company owns 100% interest of the 464 claims, and 90% interest of the remaining 60 claims. The remaining 10% interest of the 60 claims is held by an arms- length third party. The Company will bear all exploration costs of the 60 claims in relation to the mineral interests until such time as the Company has incurred USD $2,500,000 in exploration expenditures, after which all exploration costs will be shared on a pro rata basis between the Company and the arms-length third party. A 1.5% NSR has been granted by the Company to Multiple Metals Resources Ltd. (“MMRL”) and Helvellyn Capital Corp. (“Helvellyn”) on the Lithium Butte Property. The NSR is subject to a 0.5% buyback right in consideration of USD $1,000,000. Helvellyn is a private Ontario company of which Dr. Sutcliffe, the former president and director of the Company, is the principal. As of December 31, 2025, the Company had paid reclamation bond of USD 38,880 (2025 – US$38,880). ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 6. Exploration and evaluation assets (cont’d) Utah Lithium (USA) (cont’d) Lithium Butte (cont’d) The Company estimates that it has an asset retirement obligation of $24,040 (USD $17,560) (September 30, 2025 - $24,445 (USD$17,560). The amount was estimated based on a vendor quote for costs associated with the site remediation and restoration plan, such as equipment rental and labour costs. During the year ended September 30, 2025, the Bureau of Land Management made the lands ineligible for any mining activity for reasons that do not involve the Company. This is an indicator of impairment under IFRS 6, resulting in an assessment of the property’s recoverable amount. Due to uncertainty in recoverability, the Company has written off the property in full, recognizing an impairment loss of $1,077,605 during the year ended September 30, 2025. Fish Springs Property During the year ended September 30, 2022, the Company acquired 100% interest of Fish Springs Property staked in Juab County, Utah northeast of Lithium Butte. A 1.5% NSR has been granted by the Company to MMRL and Helvellyn on the Fish Springs Property. The NSR royalty is subject to a 0.5% buyback right in consideration of USD $1,000,000. Helvellyn is a private Ontario company of which Dr. Sutcliffe, the former president and director of the Company, is the principal. During the year ended September 30, 2024, the Company had no further plan to explore the property which is an indicator of impairment under IFRS 6, resulting in an assessment of the property’s recoverable amount. Due to uncertainty in recoverability, the Company has written off the property in full, recognizing an impairment loss of $656,675 during the year ended September 30, 2024. Meteor Property During the year ended September 30, 2025, the Company acquired 100% interest of Meteor Property by means of staking in Juab County, Utah. The Company has no further plan to explore the property which is an indicator of impairment under IFRS 6, resulting in an assessment of the property’s recovera --- ble amount. Due to uncertainty in recoverability, the Company has written off the property in full, recognizing an impairment loss of $25,266 during the year ended September 30, 2025. Claybank Beryllium Project (USA) On March 19, 2025, the Company entered into an option agreement to acquire a 100% interest in the Claybank Beryllium Project in Juab County, Utah. To acquire 100% interest, the Company is required to pay an aggregate total of USD $400,000 in cash as follows: ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 6. Exploration and evaluation assets (cont’d) Claybank Beryllium Project (USA) (cont’d) Cash payments: i) $25,000 USD on or before March 24, 2025 (paid); ii) $25,000 USD on or before September 19, 2025 (see amended term below); iii) $50,000 USD on or before March 19, 2026; iv) $50,000 USD on or before September 19, 2026; v) $50,000 USD on or before March 19, 2027; and vi) $200,000 USD on or before September 19, 2027. The Company also granted 1,000,000 share purchase warrants exercisable at $0.15 per warrant with the following vesting schedule: i) Immediately upon issuance with respect to 300,000 warrants (valued at $27,400); ii) On the 6 month anniversary with respect to additional 250,000 warrants (valued at $16,600); iii) On the 12 month anniversary with respect to additional 250,000 warrants; and iv) On the 18 month anniversary with respect to additional 200,000 warrants. The estimated fair value of the warrants was determined using the Black-Scholes Option Pricing Model. The property is subject to a NSR of 2.5% payable to the vendors, of which 1% can be repurchased for a cash payment of USD $1,000,000. On September 19, 2025, the Company received an extension on the property option payments, the amended terms are as follows: i) $10,000 USD on or before September 19, 2025 (paid); and ii) $15,000 USD on or before November 6, 2025 (paid in November 2025). During the year ended September 30, 2025, the Company paid reclamation bond of USD $17,250. The Company has no further plan to explore the property which is an indicator of impairment under IFRS 6, resulting in an assessment of the property’s recoverable amount. Due to uncertainty in recoverability, the Company has written off the property in full, recognizing an impairment loss of $143,448 during the year ended September 30, 2025. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 23 6. Exploration and evaluation assets (cont’d) A summary of the Company’s exploration and evaluation assets is as follows: Cole Gold Mines Property, Ontario Acquisition costs Balance, September 30, 2025 and December 31, 2025 $ 972,143 Exploration costs Balance, September 30, 2025 873,937 Assays and testing 1,768 Geological consulting 33,205 Field work 15,400 Travel 5,650 Balance, December 31, 2025 929,960 Total balance, December 31, 2025 $ 1,902,103 ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 23 6. Exploration and evaluation assets (cont’d) Cole Gold Mines Property, Ontario Lithium Butte Property, Utah Claybank Beryllium Property, Utah --- Meteor Property, Utah Pipestone Property, Ontario Total Acquisition costs Balance, September 30, 2024 $ 972,143 $ 259,371 $ - $ - $ 10 $ 1,231,524 Cash - 24,662 49,938 12,897 - 87,497 Warrants - - 44,000 - - 44,000 Balance, September 30, 2025 972,143 284,033 93,938 12,897 10 1,363,021 Exploration costs Balance, September 30, 2024 861,773 725,425 - - - 1,587,198 Geological consulting 11,861 56,254 44,487 7,121 - 119,723 Field work 303 5,317 5,023 5,248 - 15,891 Travel - 10,267 - - - 10,267 Cost recoveries - (3,691) - - - (3,691) Balance, September 30, 2025 873,937 793,572 49,510 12,369 - 1,729,388 Impairment - (1,077,605) (143,448) (25,266) (10) (1,246,329) Total balance, September 30, 2025 $ 1,846,080 $ - $ - $ - $ - $ 1,846,080 ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 7. Share capital Authorized share capital Unlimited number of common shares without par value. The Company completed a share consolidation on December 3, 2024, in which 1 new share was issued for each 5 outstanding shares. Except where otherwise indicated, all historical share numbers and per share amounts have been adjusted on a retroactive basis to also reflect this share consolidation. At December 31, 2025, there were 47,218,725 (September 30,2025 – 36,286,225 ) issued and fully paid common shares. Issuances Period ended December 31, 2025 On October 16, 2025, the Company issued 100,000 common shares pursuant to exercise of options at a price of $0.09 for gross proceeds of $16,821. The fair value of $7,821 was transferred from reserves to share capital. The trading price of the Company’s shares on the day the stock options were exercised was $0.095. On October 20, 2025, the Company issued 45,000 common shares pursuant to exercise of warrants at a price of $0.10 for gross proceeds of $4,500. The trading price of the Company’s shares on the day the stock options were exercised was $0.09. On October 21, 2025, the Company issued 50,000 common shares pursuant to exercise of options at a price of $0.05 for gross proceeds of $4,311. The fair value of $1,811 was transferred from reserves to share capital. The trading price of the Company’s shares on the day the stock options were exercised was $0.08. On November 20, 2025, the Company closed a non-brokered private placement by issuance of 3,000,000 units at a price of $0.06 per unit for aggregate gross proceeds of $180,000. Each unit is comprised of one common share and one transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share until November 20, 2028. In connection with the private placement, the Company paid $5,800 in finder’s fees. A senior officer of the Company has subscribed for an aggregate of 300,000 units as part of the private placement. On December 16, 2025, the Company closed an non-brokered private placement by issuance of 7,577,500 units at a price of $0.08 per unit for aggregate gross proceeds of $606,200. Each unit is comprised of one common share and one transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.12 per warrant share until December 16, 2029. On December 22, 2025, the Company issued 100,000 comm --- on shares pursuant to exercise of options at a price of $0.09 for gross proceeds of $16,821. The fair value of $7,821 was transferred from reserves to share capital. The trading price of the Company’s shares on the day the stock options were exercised was $0.13. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 7. Share capital (cont’d) Issuances (cont’d) On December 30, 2025, the Company issued 60,000 common shares pursuant to exercise of warrants at a price of $0.10 for gross proceeds of $6,000. The trading price of the Company’s shares on the day the stock options were exercised was $0.13. Year ended September 30, 2025 On January 14, 2025, the Company entered into debt settlement agreements with certain creditors to settle outstanding indebtedness totaling $172,500 through the issuance of 3,450,000 units valued at $258,750 and recorded $86,250 loss on the settlement. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share until January 14, 2027. On January 24, 2025, the Company closed a non-brokered private placement by issuance of 9,000,000 units at a price of $0.05 per unit for aggregate gross proceeds of $450,000. Each unit is comprised of one common share and one half transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share until January 24, 2027. In connection with the private placement, the Company paid $21,800 in finder’s fees and granted 436,000 finders’ warrants (valued at $16,300) to the arm’s length parties. Each finder’s warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share until January 24, 2027. On June 26, 2025, the Company closed a non-brokered private placement by issuance of 9,056,667 units at a price of $0.06 per unit for aggregate gross proceeds of $543,400. Each unit is comprised of one common share and one transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share until June 26, 2028. In connection with the private placement the Company paid $21,504 in finder’s fees and granted 358,400 finders’ warrants (valued at $13,500) of the Company to the arm’s length parties. Each finder’s warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share until June 26, 2026. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 7. Share capital (cont’d) Stock options The Company adopted a stock option plan to grant options to individuals exercisable up to 10 years from the date of grant to purchase shares at the market price, less applicable discount, if any. Such grants not to exceed an aggregate of 10% of the issued and outstanding shares and vesting periods will be determined by the Board of Directors. Period ended December 31, 2025 On November 12, 2025, the Company granted 750,0 --- 00 stock options exercisable at a price of $0.08 until November 12, 2028 to consultants, officers and directors. The estimated fair value of the options was $49,100 which was determined by the Black-Scholes Option Pricing Model. On November 26, 2025, the Company granted 275,000 stock options exercisable at a price of $0.08 until November 26, 2028 to consultants, officers and directors. The estimated fair value of the options was $21,500 which was determined by the Black-Scholes Option Pricing Model. Year ended September 30, 2025 On January 7, 2025, the Company granted 475,000 stock options exercisable at a price of $0.05 until January 7, 2027 to consultants, officers and directors. The estimated fair value of the options was $17,200 which was determined by the Black-Scholes Option Pricing Model. On January 22, 2025, the Company granted 280,000 stock options exercisable at a price of $0.09 until January 22, 2027 to consultants. The estimated fair value of the options was $21,900 which was determined by the Black-Scholes Option Pricing Model. On March 3, 2025, the Company granted 700,000 stock options exercisable at a price of $0.15 until March 3, 2027 to consultants, officers and directors. The estimated fair value of the options was $92,000 which was determined by the Black-Scholes Option Pricing Model. On March 25, 2025, the Company granted 25,000 stock options exercisable at a price of $0.15 until March 25, 2027 to a consultant. The estimated fair value of the options was $2,800 which was determined by the Black-Scholes Option Pricing Model. On April 15, 2025, the Company granted 200,000 stock options exercisable at a price of $0.11 until April 15, 2028 to a director. The estimated fair value of the options was $18,200 which was determined by the Black-Scholes Option Pricing Model. On May 15, 2025, the Company granted 200,000 stock options exercisable at a price of $0.11 until May 15, 2027 to consultants. The estimated fair value of the options was $12,600 which was determined by the Black-Scholes Option Pricing Model. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 7. Share capital (cont’d) Stock options (cont’d) On July 9, 2025, the Company granted 950,000 stock options exercisable at a price of $0.11 until July 9, 2027 to a officers, directors, and consultants. The estimated fair value of the options was $70,500 which was determined by the Black-Scholes Option Pricing Model. During the year ended September 30, 2025, the Company cancelled 595,000 stock options that were issued to consultants of the Company and 40,000 stock options expired. Number of options Weighted average exercise price Balance at September 30, 2024 1,320,000 $ 0.37 Granted 2,830,000 0.11 Expired/cancelled (635,000) 0.44 Balance at September 30, 2025 3,515,000 0.15 Granted 1,025,000 0.08 Exercised (650,000) 0.10 Expired/cancelled (90,000) 0.49 Balance at December 31, 2025 3,800,000 $ 0.13 Details of options outstanding as at December 31, 2025 are as follows: Number of Options Exercise Price Expiry Date Exercisable 195,000 $0.35 August 10, 2026 195,000 425,000(i) $0.05 January 7, 2027 425,000 80,000(ii) $0.09 January 22, 2027 80,000(i) 700,000(iii) $0.15 March 3, 2027 700,000 280,000 $0.25 March 14, 2027 280,000 25,000 $0.15 March 25, 2027 25,000 200,000 $0.11 May 15, 2027 200,000 550,000 $0.11 July 9, 2027 550,0 --- 00 120,000 $0.25 September 3, 2027 120,000 200,000 $0.11 April 15, 2028 200,000 750,000(iv) $0.08 November 12, 2028 750,000 275,000 $0.08 November 26, 2028 275,000 3,800,000 3,800,000 (i) 260,000 options exercised subsequently (ii) 40,000 options exercised subsequently (iii) 25,000 options exercised subsequently (iv) 100,000 options exercised subsequently As at December 31, 2025, the options outstanding had a weighted average exercise price of $0.13 (2024 - $0.37) and a weighted average life of 1.72 years (2024 – 1.72 years). ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 7. Share capital (Cont’d) Stock options (Cont’d) The following weighted average assumptions were used for the Black-Scholes valuation of stock options granted: December 31, 2025 September 30, 2025 Risk-free interest rate 2.43% 2.67% Share price $0.078 $0.10 Exercise price $0.08 $0.16 Expected life of options 3 years 2.07 years Expected annualized volatility 182% 187% Expected dividend rate - - Volatility is determined based on historical trading price of the Company. Warrants Number of warrants Weighted average exercise price Balance at September 30, 2024 4,495,000 $ 0.59 Issued 17,076,067 0.10 Expired/cancelled (4,045,000) 0.63 Balance at September 30, 2025 17,526,067 0.11 Issued 10,577,500 0.10 Exercised (105,000) 0.12 Balance at December 31, 2025 27,998,567 $ 0.11 Number of Warrants Exercisable Warrants Exercise Price Expiry Date 450,000 450,000 $0.25 March 21, 2026 358,400 358,400 $0.10 June 26, 2026 1,725,000 1,725,000 $0.10 January 14, 2027 4,395,000(i) 4,395,000 $0.10 January 24, 2027 436,000(ii) 436,000 $0.10 January 24, 2027 1,000,000 1,000,000 $0.15 March 28, 2027 9,056,667(iii) 9,056,667 $0.10 June 26, 2028 3,000,000 3,000,000 $0.10 November 20, 2028 7,577,500 7,577,500 $0.12 December 16, 2029 27,998,567 27,998,567 (i)600,000 warrants exercised subsequently (ii)64,000 warrants exercised subsequently (iii)210,000 warrants exercised subsequently As at December 31, 2025, the warrants outstanding had a weighted average exercise price of $0.11 (2024 - $0.77) and a weighted average life of 2.52 years (2024 – 0.59 years). ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 7. Share capital (Cont’d) Warrants (Cont’d) On March 28, 2025, the Company granted 1,000,000 warrants exercisable at a price of $0.15 pursuant to acquisition of Claybank Beryllium Project, subject to vesting terms (Note 6). On November 20, 2025, the Company granted 3,000,000 warrants exercisable at a price of $0.10 pursuant to issuance of private placement. On December 16, 2025, the Company granted 7,577,500 warrants exercisable at a price of $0.12 pursuant to issuance of private placement. The following weighted average assumptions were used for the Black-Scholes valuation of warrants granted: December 31, 2025 September 30, 2025 Risk-free interest rate - 2.78% Share price - $0.08 Exercise price - $0.10 Expected life of options - 1.55 years Expected annualized volatility - 239% Expected dividend rate - - Volatility is determined based on historical trading prices of the Company. 7. Related party transactions Key management compensation Key management personnel include those persons having autho --- rity and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of members of the Company's Board of Directors and corporate officers. The remuneration of directors and key management personnel made during the period are as follows: Period ended December 31, 2025 Period ended December 31, 2024 Consulting fees, including exploration $ 27,387 $ 3,000 Management fees 36,000 36,000 Share-based payments 26,066 - Total $ 89,453 $ 39,000 As at December 31, 2025, the Company has $29,250 (September 30, 2025 - $83,550) due to officers and directors of the Company. Amounts due to related parties are unsecured, non-interest bearing with no specific terms of repayment. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 8. Financial instruments and risks The Company’s financial instruments are comprised of cash, marketable securities, reclamation bond, accounts payable and accrued liabilities, short-term loan and due to related parties. The carrying value of the Company’s financial instruments as presented in the consolidated statements of financial position is a reasonable estimate of its fair value. Financial assets and liabilities measured at fair value on a recurring basis are classified in their entirety based on the lowest level of input that is significant to their fair value measurement. Certain non-financial assets and liabilities may also be measured at fair value on a non-recurring basis. There are three levels of the fair value hierarchy that prioritize the inputs to valuation techniques used to measure fair value, with Level 1 inputs having the highest priority. The levels and the valuation techniques used to value financial assets and liabilities are described below. Level 1 – Quoted Prices in Active Markets for Identical Assets Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Cash and marketable securities are valued using quoted market prices in active markets. Accordingly, it is included in Level 1 of the fair value hierarchy. Level 2 – Significant Other Observable Inputs Quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 – Significant Unobservable Inputs Unobservable (supported by little or no market activity) prices. Financial Instrument Risks The Company’s financial instruments are exposed to certain financial risks, including credit risk, interest rate risk, price risk, liquidity risk and currency risk. a) Credit risk The Company is exposed to credit risk by holding cash. This risk is minimized by holding the investments in large financial institutions. The Company’s receivable consists primarily of sales taxes due from the Federal Government of Canada. The Company has no significant credit risk arising from its operations. b) Interest rate risk The Company is exposed to minimal interest rate risk. Fluctuations in market interest rates do not have a significant impact on the Company’s operations. c) Price risk The Company is exposed to price risk with respect to commodity and equity prices. Equity pri --- ce risk is defined as the potential adverse impact on the Company’s earnings due to movements in individual equity prices or general movements in the level of the stock market. Commodity price risk is defined as the potential adverse impact on earnings and economic value due to commodity price movements and volatilities. The Company closely monitors commodity prices, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 9. Financial instruments and risks (cont’d) c) Price risk (cont’d) The Company’s financial instruments include marketable securities which are publicly traded and therefore subject to the risks related to the fluctuation in market prices of publicly traded securities. Some of these investments have been acquired as a result of property transactions and, to a large extent, represent strategic investments in related mining companies and their properties. The Company closely monitors market values to determine the most appropriate course of action. d) Liquidity risk Liquidity risk is the risk that the Company is unable to meet its financial obligations as they come due. As at December 31, 2025, the Company manages this risk by monitoring its working capital to ensure its expenditures will not exceed available resources. As at December 31, 2025, the Company had cash of $182,888 (September 30, 2025 - $23,124) and a working capital of $449,846 (September 30, 2025 – deficit of $92,674). The Company has sufficient capital to meet its short term business requirements. All of the Company’s financial liabilities have contractual maturities of 30 days or due on demand and are subject to normal trade terms. e) Currency risk Currency risk is the risk from fluctuations in foreign exchange rates and the degree of volatility of these rates. The Company is not exposed to material currency risk. Capital management The Company considers its capital structure to include net residual equity of all assets, less liabilities. The Company’s objectives when managing capital are to (i) maintain financial flexibility in order to preserve its ability to meet financial obligations and continue as a going concern; (ii) maintain a capital structure that allows the Company to pursue the development of its mineral properties; and (iii) optimize the use of its capital to provide an appropriate investment return to its shareholders commensurate with risk. The Company’s financial strategy is formulated and adapted according to market conditions in order to maintain a flexible capital structure that is consistent with its objectives and the risk characteristics of its underlying assets. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of its underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares, acquire or dispose of assets, or adjust the amount of cash and receivables. The Company is not subject to any externally imposed capital requirements. There have been no changes to the Company’s approach to capital management during the period ended December 31, 2025. ROCKLAND RESOURCES LTD. Notes to the Condensed Interim Consolidated Financial Statements --- (Unaudited – Prepared by Management) (Expressed in Canadian dollars) For the three months ended December 31, 2025 10. Subsequent events Subsequent to December 31, 2025 the Company: i) issued 425,000 common shares pursuant to exercise of options for gross proceeds of $28,350. ii) issued 874,000 common shares pursuant to exercise of warrants for gross proceeds of $87,400. iii) closed a non-brokered private placement by issuance of 10,880,000 units at a price of $0.10 per unit for aggregate gross proceeds of $1,088,000. Each unit is comprised of one common share and one transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 per warrant share until January 21, 2029. Finders’ fees of $5,800 cash were paid in connection with this private placement. iv) closed a non-brokered private placement by issuance of 1,120,000 units at a price of $0.10 per unit for aggregate gross proceeds of $112,000. Each unit is comprised of one common share and one transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 per warrant share until January 21, 2029. In connection with the private placement, the Company paid $2,000 in finder’s fees and granted 1,120,000 finders’ warrants to the arm’s length parties. Each finder’s warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 per warrant share until January 21, 2029. v) closed a non-brokered private placement by issuance of 1,375,000 units at a price of $0.20 per unit for aggregate gross proceeds of $275,000. Each unit is comprised of one common share and one transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.28 per warrant share until February 23, 2028. vi) closed a non-brokered private placement by issuance of 1,000,000 flow-through units at a price of $0.25 per unit for aggregate gross proceeds of $250,000. Each flow-through unit is comprised of one common share and one-half transferable common share purchase warrant of the Company. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.35 per warrant share until February 23, 2028. vii) granted 2,000,000 stock options exercisable at a price of $0.16 until January 30, 2029 to directors, officers and consultants of the Company. viii) granted 500,000 stock options exercisable at a price of $0.24 until February 6, 2031 to a consultant of the Company.