SEDAR Interim Financial Statements

EARTHWISE MINERALS CORP. CONDENSED INTERIM FINANCIAL STATEMENTS For the nine months ended December 31, 2025 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) NOTICE OF NO AUDITOR REVIEW OF THE CONDENSED 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 interim financial statements, they must be accompanied by a notice indicating that the condensed interim financial statements have not been reviewed by an auditor. The accompanying unaudited condensed interim financial statements of the Company for the nine months ended December 31, 2025 have been prepared by and are the responsibility of the Company’s management and have not been reviewed by the Company’s auditors. 3 EARTHWISE MINERALS CORP. CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION As at December 31, 2025 and March 31, 2025 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) December 31, 2025 March 31, 2025 ASSETS Current Cash $ 34,440 $ 90,432 Amounts receivable 4,316 9,134 Prepaid expenses 32,917 13,767 71,673 113,333 Exploration and evaluation asset (Note 5) 125,373 9,000 $ 197,046 $ 122,333 LIABILITIES Current Accounts payable and accrued liabilities (Note 7) $ 1,114,319 $ 1,030,150 Loans and promissory notes payable (Note 11) 37,953 32,900 1,152,272 1,063,050 SHAREHOLDERS’ DEFICIT Share capital (Note 6) 5,898,324 5,631,904 Share subscriptions receivable (5,000) (15,000) Contributed surplus (Note 6) 664,209 643,109 Accumulated deficit (7,512,759) (7,200,730) (955,226) (940,717) $ 197,046 $ 122,333 Going concern (Note 2) Commitments and contingencies (Notes 11) Subsequent event (Notes 12) APPROVED ON BEHALF OF THE BOARD: “George Yordanov” Director “Mark Luchinski” Director George Yordanov Mark Luchinski THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED INTERIM FINANCIAL STATEMENTS 4 EARTHWISE MINERALS CORP. CONDENSED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS For the three and nine months ended December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) For the three months ended December 31, For the nine months ended December 31 2025 2024 2025 2024 Expenses Consulting fees (Note 7) $ 53,300 $ 70,353 $ 98,699 $ 220,353 Marketing 15,038 - 44,070 - Office and general 2,436 3 9,885 600 Professional fees 28,695 39,213 69,573 43,699 Regulatory and transfer agent fee 5,956 2,295 17,626 9,197 Share-based payments (Notes 6 and 7) - - 20,700 - Travel, conferences and entertainment 3,997 632 11,772 7,484 (109,422) (112,496) (272,325) (281,333) Other items: Interest income - - - 154 Penalties and other interest charges (Note 10) (16,295) (13,915) (39,704) (41,884) (16,295) (13,915) (39,704) (41,730) Net loss and comprehensive loss for the period $ (125,717) $ (126,411) $ (312,029) $ (323,063) Basic and diluted loss per share $ (0.00) $ (0.01) $ (0.01) $ (0.03) Weighted average number of common shares outstanding 31,600,505 11,101,036 27,545,658 25,518,685 THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED INTERIM FINANCIAL STATEMENTS 5 EARTHWISE MINERALS CORP. CONDESNED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT For the nine months ended December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) Number of Shares Share Capital Share Subscriptions Receivable Contributed Surplus Accumulated Deficit Total Shareholders’ Deficit --- Balance, March 31, 2024 11,904,383 $ 5,392,646 $ (5,000) $ 595,709 $ (6,799,929) $ (816,574) Net loss for the period - - - - (323,063) (323,063) Balance, December 31, 2024 11,904,383 5,392,646 (5,000) 595,709 (7,122,992) (1,139,637) Private placement 11,762,900 235,258 (10,000) - - 225,258 Shares issued for exploration and evaluation asset 100,000 4,000 - - - 4,000 Share-based payments for stock options granted - - - 47,400 - 47,400 Net loss for the period - - - - (77,738) (77,738) Balance, March 31, 2025 23,767,283 5,631,904 (15,000) 643,109 (7,200,730) (940,717) Private placement 10,523,332 267,700 10,000 - - 277,700 Share issuance cost - (1,280) - 400 - (880) Share-based payments for stock options granted - - - 20,700 - 20,700 Net loss for the period - - - - (312,029) (312,029) Balance, December 31, 2025 34,290,615 $ 5,898,324 $ (5,000) $ 664,209 $ (7,512,759) $ (955,226) THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED INTERIM FINANCIAL STATEMENTS 6 EARTHWISE MINERALS CORP. CONDENSED INTERIM STATEMENTS OF CASH FLOWS For the nine months ended December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) For the nine months ended December 31, 2025 2024 Operating Activities Net loss for the period $ (312,029) $ (323,063) Items not affecting cash: Share-based payments 20,700 - Penalties and other interest charges 39,704 - Changes in non-cash working capital items related to operations: Amounts receivable 4,818 15,430 Prepaid expenses (19,150) 31,500 Accounts payable and accrued liabilities 13,903 187,119 Cash used in operating activities (252,054) (89,014) Investing Activities Exploration expenditures (80,758) - Cash used in investing activities (80,758) - Financing Activities Loans and promissory note received - 32,900 Loans and promissory note paid - (10,000) Private placements proceeds, net of cost 266,820 - Share subscription received 10,000 - Cash provided by financing activities 276,820 22,900 Change in cash during the period (55,992) (66,114) Cash, beginning of period 90,432 70,914 Cash, end of the period $ 34,440 $ 4,800 Supplemental Disclosure of Cash Flow Information: Cash paid during the period: Interest $ - $ - Income taxes $ - $ - THE ACCOMPANYING NOTES ARE AN INTEGRAL PART OF THESE CONDENSED INTERIM FINANCIAL STATEMENTS EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 7 1. CORPORATE INFORMATION Earthwise Minerals Corp. (the “Company”) is a mineral property exploration company whose common shares trade on the Canadian Securities Exchange (“CSE”). On April 15, 2021, the Company was listed and commenced trading on the CSE on April 19, 2021 under the trading symbol “HM”. On April 18, 2023, the Company changed the name to ‘Earthwise Minerals Corp.’. The Company commenced trading on CSE under the new trading symbol “WISE” on April 21, 2023. The Company was incorporated on April 26, 2019 in British Columbia. The head office and registered and records office of the Company is located at Suite 330 – 470 Granville Street, Vancouver, BC, V6C 1V4. 2. BASIS OF PREPARATION (a) Statement of Compliance These condensed interim financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), and in accordance with International --- Accounting Standard (“IAS”) 34 Interim Financial Reporting. These condensed interim financial statements were approved and authorized for issue by the Board of Directors on February 26, 2026. (b) Basis of Measurement The condensed interim financial statements have been prepared on the historical cost basis except for certain financial instruments which are measured at fair value, as explained in the accounting policies set out in Note 3. In addition, these financial statements have been prepared using the accrual basis of accounting, except for cash flow information. The financial statements are presented in Canadian dollars, unless otherwise noted. (c) Going Concern These Condensed interim financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company was not expected to continue operations for the foreseeable future. At December 31, 2025, the Company has not achieved profitable operations, has accumulated losses of $7,512,759 (March 31, 2025 - $7,200,730) since inception and expects to incur further losses in the development of its business. The Company’s business may be affected by changes in political and market conditions, such as interest rates, availability of credit, inflation rates, changes in laws, tariffs, and national and international circumstances. Recent geopolitical events, including, relations between NATO and Russian Federation regarding the situation in Ukraine, the escalation of war between Hamas and Israel in Gaza and potential economic global challenges such as the risk of the higher inflation and energy crisis, may create further uncertainty and risk with respect to the prospects of the Company’s business. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 8 2. BASIS OF PREPARATION – (cont’d) (c) Going Concern – (cont’d) The above material uncertainties cast significant doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent upon successful results from its exploration and evaluation activities, its ability to attain profitable operations to generate funds and/or its ability to raise equity capital or borrowings sufficient to meet its current and future obligations. Although the Company has been successful in the past in raising funds to continue operations, there is no assurance it will be able to do so in the future. 3. MATERIAL ACCOUNTING POLICIES The accounting policies set out below have been applied consistently in the financial statements, unless otherwise indicated. Exploration and Evaluation Assets Exploration and evaluation rights to explore The Company capitalizes direct mineral property acquisition costs and those expenditures incurred following the determination that the property has economically recoverable reserves. Mineral property acquisition costs include cash consideration, option payment under an earn-in arrangement and the fair value of common shares issued for mineral property interests, pursuant to the terms of the relevant agreement. Once the technical feasibility and commercial viability of extracting the mineral resources ha --- s been determined, the property is considered to be a mine under development and development costs are capitalized to “property, plant and equipment” on the statement of financial position. These costs are amortized over the estimated life of the property following commencement of commercial production, or written off if the property is sold, allowed to lapse or abandoned, or when impairment in value has been determined to have occurred. A mineral property is reviewed for impairment whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. Exploration and evaluation expenditures Exploration and evaluation (“E & E”) expenditures are charged to operations in the year incurred until such time as it has been determined that a property has economically recoverable resources, in which case subsequent exploration costs and the costs incurred to develop a property are capitalized into property, plant and equipment. Impairment of Assets The Company’s assets are reviewed for an indication of impairment at each statement of financial position date and whenever events suggest that the carrying amounts may not be recoverable. If indication of impairment exists, the asset’s recoverable amount is estimated. An impairment loss is recognized when the carrying amount of an asset, or its cash-generating unit, exceeds its recoverable amount. A cash-generating unit is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Impairment losses are recognized in profit or loss for the period. An impairment loss is reversed if there is an indication that there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 9 3. MATERIAL ACCOUNTING POLICIES – (cont’d) Financial Instruments Financial Assets The Company initially measures cash at fair value and subsequently measures it at amortized cost. Financial Liabilities The Company initially measures its accounts payable and accrued liabilities and loans and promissory note payable at fair value and subsequently measures it at amortized cost. Provisions Rehabilitation Provision The Company is subject to various government laws and regulations relating to environmental disturbances caused by exploration and evaluation activities. The Company records the present value of the estimated costs of legal and constructive obligations required to restore the exploration sites in the year in which the obligation is incurred. The nature of the rehabilitation activities includes restoration, reclamation and re-vegetation of the affected exploration sites. The rehabilitation provision generally arises when the environmental disturbance is subject to government laws and regulations. When the liability is recognized, the present value of the estimated costs is capitalized by increasing the carrying amount of the related exploration and evaluation assets. Over time, the discounted liability is increased for the changes in present value based on current market discou --- nt rates and liability specific risks. Additional environment disturbances or changes in rehabilitation costs will be recognized as additions to the corresponding assets and rehabilitation liability in the year in which they occur. Other Provisions Provisions are recorded when a present legal or constructive obligation exists as a result of past events where it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. Share Capital The Company has adopted a residual value method with respect to the measurement of shares and warrants issued as private placement units. The residual value method first allocates value to the more easily measurable component based on fair value and then the residual value, if any, to the less easily measurable component. The fair value of the common shares issued in the private placements is determined to be the more easily measurable component and is valued at their fair value, as determined by the closing quoted bid price on the date of issuance once the shares are listed on a stock exchange. The balance, if any, is allocated to the attached warrants. Any fair value attributed to the warrants is recorded to contributed surplus. The value of warrants that expire or are forfeited stays in contributed surplus. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 10 3. MATERIAL ACCOUNTING POLICIES – (cont’d) Mining tax credit Mining tax credits are recorded when there is reasonable assurance that the Company has complied with, and will continue to comply with, all conditions needed to obtain the credits and collectability is assured. Flow-through Shares The Company will, from time to time, issue flow-through shares to finance a significant portion of its exploration program. Pursuant to the terms of the flow-through share agreements, these shares transfer the tax deductibility of qualifying resource expenditures to investors. On the issuance of a flow-through share, it is bifurcated into equity (share) and liability (flow-through) components on the issue date. The equity portion is measured at the market value and the residual is allocated as a liability. This is effectively the “premium” the investor attributes to a flow-through share versus an ordinary share. Upon qualifying expenditures being incurred, the Company derecognizes the liability and recognizes the premium as other income. The flow-through share program requires the Company to spend an amount equivalent to the proceeds of the issued flow-through common shares on Canadian qualifying exploration expenditures within the timeline specified by the Government of Canada flow-through regulations. If this deadline has passed, the Company would need to amend the tax forms for any unspent exploration expenditures renounced and the related flow-through premium will be reversed to share capital. The Company may be required to indemnify the flow-through shareholders for any tax and other costs payable by them if the required exploration expenditures are not incurred before the deadline. The Company will also be subject to a Part XII.6 tax on flow-through proceeds renounced under the Government of Canada flow-through regulations. The related interest and penalties for the Part XII.6 tax and any potential costs to ind --- emnify the shareholders is recorded into penalties and other interest charges on the statements of loss and comprehensive loss. Share-based Payments Equity-settled share-based payments for directors, officers and employees are measured at fair value at the date of grant using the Black-Scholes valuation model and recorded as compensation expense in profit or loss, with a corresponding increase to contributed surplus. The fair value determined at the grant date of the equity-settled share based payments is expensed on a graded vesting basis over the vesting period based on the Company’s estimate of stock options that will eventually vest. Any consideration paid by directors, officers, employees and consultants on exercise of equity-settled share-based payments, along with the amounts reflected in contributed surplus, is credited to share capital. Shares are issued from treasury upon the exercise of the equity-settled share based instruments. Compensation expense on stock options granted to non-employees is measured at the earlier of the completion of performance and the date the options are vested using the fair value method and is recorded as an expense in the same period as if the Company had paid cash for the goods or services received. 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 the use of the Black-Scholes valuation model. The expected life used in the model is adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions, and behavioural considerations. Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period. No adjustment is made when stock options expire or are cancelled. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 11 3. MATERIAL ACCOUNTING POLICIES – (cont’d) Share-based Payments – (cont’d) The Company measures the cost of equity-settled share-based transactions by reference to the fair value of the equity instruments at the date at which they are granted. For RSUs, the fair value of the grant is determined by multiplying the Company’s share price at grant date by the number of RSUs granted. The resulting fair value of the RSU’s is then adjusted for an estimated forfeiture rate which is determined based on historical data and is recognized over the vesting period. Actual number of RSU’s that will eventually vest is likely to be different from estimation. Recent accounting pronouncements The following new standard is not yet effective and have not been applied in preparing the Company’s financial statements: 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 financial statements. 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS The Company makes estimates and assumptions about the future that affect the reported amounts of assets and liabilities. Estimates and judgments are continually evaluated based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the future, actual experience may differ from these estimates and assumptions. The effect of a change in an accounting estimate is recognized prospectively by including it in net loss in the year of the change, if the change affects that year only, or in the year of the change and future years, if the change affects both. Critical Judgments, Estimates and Assumptions in Applying Accounting Policies Information about 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 financial statements within the next financial year are discussed below: Going Concern The assessment of the Company’s ability to continue as a going concern requires significant judgement. See Note 2(c). EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 12 4. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS – (cont’d) Impairment of exploration and evaluation assets The net carrying value of each cash generating unit in exploration and evaluation assets 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 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. 5. EXPLORATION AND EVALUATION ASSET AND EXPENDITURES The following tables summarize the Company’s exploration and evaluation assets as at December 31, 2025. Iron Range Gold Property On February 26, 2025, the Company entered into an options agreement with Eagle Plains Resources Ltd. (“Eagle Plains”) to acquire up to an 80% interest in Eagle Plains' wholly-owned Iron Range Gold project, BC. Under the terms of the option agreement, the Company may acquire a 70% interest in the Iron Range Project by completing the following over a four-year period: Cash payments: i) $5,000 within 10 days upon execution of the agreement (paid); ii) $25,000 on or before February 26, 2026; iii) $50,000 on o --- r before February 26, 2027; iv) $75,000 on or before February 26, 2028; and v) $95,000 on or before February 26, 2029. Share issuances: i) 100,000 common shares within 10 days upon execution of the agreement (issued and valued $4,000); ii) 100,000 common shares on or before February 26, 2026; iii) 250,000 common shares on or before February 26, 2027; iv) 450,000 common shares on or before February 26, 2028; and v) 600,000 common shares on or before February 26, 2029. Iron Range Property Total Balance, March 31, 2024 $ - $ - Cash payment 5,000 5,000 Shares issued 4,000 4,000 Balance, March 31, 2025 9,000 9,000 Assays 375 375 Field work, Mapping and Geochemical 107,998 107,998 Geological consulting 8,000 8,000 Balance, December 31, 2025 $ 125,373 $ 125,373 EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 13 5. EXPLORATION AND EVALUATION ASSET AND EXPENDITURES – (cont’d) Expenditures: i) $200,000 on or before February 26, 2026 (subsequently extended to August 26, 2026, see below); ii) additional $500,000 on or before February 26, 2027; iii) additional $1,500,000 on or before February 26, 2028; and iv) additional $1,800,000 on or before February 26, 2029. Following the completion of the payment above, the Company shall have the right to earn an additional 10% interest in the Iron Range Project by notifying Eagle Plains of its intent to increase its interest to 80%, making an additional one-time payment of $1,000,000 cash and completing a bankable feasibility study on the property no later than the eighth anniversary of the option agreement. Eagle Plains will retain a total 2.0% net smelter return royalty (“NSR”) on all areas underlain by the property, which may be bought down to 1.0% for $1,500,000 on exercising either the first or the second option. On January 5, 2026, the Company received a six-month extension of the option agreement. In consideration for the option extension, Company issued 100,000 common shares valued at $3,000 to the optionor, Eagle Plains Resources Ltd. As a result of the extension, the company's first-year commitment under the option is now due on August 26, 2026. 6. SHARE CAPITAL (a) Authorized Unlimited common shares with no par value. (b) Issued During the nine months ended December 31, 2025, the Company: i) closed its non-brokered private placement financing by issuing 3,249,999 non-flow through units at a price of $0.03 for total proceeds of $97,500. Each unit consists of one common share in the authorized share structure of the Company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring August 5, 2027. ii) closed its non-brokered private placement financing by issuing 2,473,333 flow through units at a price of $0.03 for total proceeds of $74,200. Each unit consists of one common share in the authorized share structure of the Company and one half of common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring August 5, 2027. The Company paid cash finders’ fees of $360 and issued 12,000 non-transferable finders’ warrant valued at $100. Each finder’s warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring August 5, 2027. iii) closed its non-brokered p --- rivate placement financing by issuing 4,050,000 non-flow through units at a price of $0.02 for total proceeds of $81,000. Each unit consists of one common share in the authorized share structure of the Company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring November 21, 2027. The Company paid cash finders’ fees of $520 and issued 23,000 non-transferable finders’ warrant valued at $300. Each finder’s warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring November 21, 2027. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 14 6. SHARE CAPITAL – (cont’d) (b) Issued – (cont’d) iv) closed its non-brokered private placement financing by issuing 750,000 flow through units at a price of $0.02 for total proceeds of $15,000. Each unit consists of one common share in the authorized share structure of the Company and one half of common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring November 21, 2027. During the year ended March 31, 2025, the Company: i) closed a $235,258 non-brokered private placement by issuing 11,762,900 common shares at a price of $0.02 per common share. $10,000 of the proceeds were collected during period ended December 31, 2025. ii) pursuant to the terms of an option agreement, the Company issued 100,000 common shares fair valued at $4,000 (Note 5). (c) Share Purchase Warrants The changes in share purchase warrants were as follows: Number Weighted Average Exercise Price Balance, March 31, 2024 3,182,500 $0.47 Expired (1,595,000) 0.83 Balance, March 31, 2025 1,587,500 0.10 Granted 8,911,666 0.05 Balance, December 31, 2025 10,499,166 $0.06 As at December 31, 2025, the Company had following share purchase warrants outstanding: Number of Exercise Weighted average Warrants Price Expiry Date remaining life 1,587,500 $0.10 March 20, 2027 4,486,666 $0.05 August 5, 2027 4,425,000 $0.05 November 21, 2027 10,499,166 1.48 years (d) Finders’ Warrants The changes in finders’ warrants were as follows: Number Weighted Average Exercise Price Balance, March 31, 2024 112,000 $0.49 Expired (72,000) 0.70 Balance, March 31, 2025 40,000 0.10 Granted 35,000 0.05 Balance, December 31, 2025 75,000 $0.08 EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 15 6. SHARE CAPITAL – (cont’d) (d) Finders’ Warrants – (cont’d) As at December 31, 2025, the Company had the following share purchase warrants outstanding: Number of Exercise Weighted average Warrants Price Expiry Date remaining life 40,000 $0.10 March 20, 2027 12,000 $0.05 August 5, 2027 23,000 $0.05 November 21, 2027 75,000 1.48 years (e) Stock Options The Company adopted a stock option plan whereby the Board of Directors may, from time to time, grant incentive stock options or restricted stock units (collectively, the “Awards”) to directors, officers, employees and consultants. Under the plan, Awards issued may not exceed 10% of the issued common shares of the Company. The term of stock options shall be ten years from the grant date unless otherwise determined by the Board. The exercise price shall be --- determined by the Board but shall not be less than the fair market value of the common shares on the grant date. On February 11, 2025, the Company granted 1,750,000 incentive stock options to senior executives, directors and consultants of the Company. The options grant the holder the right to purchase common shares in the capital of the Company at $0.05 per common share. The options vest immediately and expire on February 11, 2030. These stock options vested at the date of grant with a fair value of $47,400 which was determined using the Black-Scholes option valuation model with the following assumptions – share price on date of grant of $0.03; risk-free interest rate of 2.78%; dividend yield of 0%; expected life of 5 years; forfeiture rate of 0% and expected volatility of 156%. On May 10, 2025, the Company granted 450,000 incentive stock options to senior executives, directors and consultants of the Company. The options grant the holder the right to purchase common shares in the capital of the Company at a price of $0.05 per common share. The options vest immediately and expire on May 10, 2030. These stock options vested at the date of grant with a fair value of $20,700 which was determined using the Black-Scholes option valuation model with the following assumptions – share price on date of grant of $0.05; risk-free interest rate of 2.75%; dividend yield of 0%; expected life of 5 years; forfeiture rate of 0% and expected volatility of 155%. Volatility was calculated using stock price of comparable companies. The changes in stock options are as follows: Number Weighted Average Exercise Price Balance, March 31, 2024 606,000 $0.28 Granted 1,750,000 0.05 Forfeited (445,000) 0.18 Balance, March 31, 2025 1,911,000 0.09 Granted 450,000 0.05 Forfeited (11,000) 1.30 Balance, December 31, 2025 2,350,000 $0.08 EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 16 6. SHARE CAPITAL – (cont’d) (e) Stock Options – (cont’d) As at December 31, 2025, the Company had following stock options outstanding and exercisable: Number of Exercise Weighted average Options Price Expiry Date remaining life 150,000 $0.50 July 7, 2027 1,750,000 $0.05 February 11, 2030 450,000 $0.05 May 10, 2030 2,350,000 4.00 years 7. RELATED PARTY TRANSACTIONS AND BALANCES The following expenses were incurred with key management personnel of the Company. Key management personnel are persons responsible for planning, directing and controlling the activities of an entity, and include certain directors and officers. Key management compensation comprises: For the nine months ended December 31, 2025 2024 Consulting fees Enermetal Ventures Inc., company controlled by Patrick Morris, Former CEO $ - $ 80,000 Mark Luchinski, CEO and Director 54,000 - GMY Consulting Inc., company controlled by George Yordanov, former VP Exploration and Director 6,699 - Professional fees Ikavinder Deol, CFO 6,400 - Marketing Mateo Arcila, Director 17,500 - 84,599 80,000 Share-based payments Ikavinder Deol, CFO 4,600 - George Yordanov, former VP of Exploration and Director 2,300 - Mateo Arcila, Director 4,600 - Solomon Kasirye, former Director 4,600 - 16,100 - $ 100,699 $ 80,000 As at December 31, 2025, the Company owed $71,386 (March 31, 2025 - $62,948) to directors and officers included in accounts payable and accrued liabilities, of which $62,948 (March 31, 2025 - $62,948) is owed --- to a company controlled by the former CEO, namely Patrick Morris. The amounts owing are non-interest bearing and due on demand. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 17 8. CAPITAL MANAGEMENT The Company’s objectives when managing capital are to identify, pursue and complete the exploration and development of resource properties, to maintain financial strength, to protect its ability to meet its on-going liabilities, to continue as a going concern, to maintain credit worthiness and to maximize returns for shareholders over the long term. The Company does not have any externally imposed capital requirements to which it is subject to. Capital of the Company comprises of cash and shareholders’ deficit. The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares. The Company’s investment policy is to invest its cash in financial instruments in high credit quality financial institutions with terms to maturity selected with regards to the expected timing of expenditures from continuing operations. There were no changes to the Company’s approach to capital management during the period. 9. FINANCIAL INSTRUMENTS AND RISKS The Company is exposed through its operations to the following financial risks: • Liquidity risk • Market risk • Credit risk In common with all other businesses, the Company is exposed to risks that arise from its use of financial instruments. This note describes the Company’s objectives, policies and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of these risks is presented throughout these financial statements. There have been no substantive changes in the Company’s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or the methods used to measure them unless otherwise stated in the note. Liquidity Risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it will always have sufficient cash to allow it to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. The Company manages its liquidity risk by forecasting cash flows required for operations and anticipated investing and financing activities. The business of mining and exploration involves a high degree of risk and there can be no assurance that exploration programs will result in profitable mining operations. The Company monitors its cash flows to meet the Company’s normal operating requirements on an ongoing basis and its planned capital expenditures. As at December 31, 2025 the Company had a working capital deficiency of $1,080,599 (March 31, 2025 - $949,717). The Company has insufficient cash to meet its requirements for administrative overhead, to conduct due diligence on mineral property acquisition targets, and to conduct exploration of its mineral properties and mineral properties that may be acquired. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 20 --- 25 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 18 9. FINANCIAL INSTRUMENTS AND RISKS – (cont’d) The Company does not generate cash flows from operations to fund its activities and therefore relies principally upon the issuance of securities for financing. Future capital requirements will depend on many factors including the Company’s ability to execute its business plan. The Company intends to continue relying upon the issuance of securities to finance its future activities but there can be no assurance that such financing will be available on a timely basis under terms acceptable to the Company. Market Risk Market risk is the risk of loss that may arise from changes in market factors such as interest rates, investment fluctuations, and commodity and equity prices. Interest Rate Risk The Company is not exposed to significant interest rate risk. Price Risk The Company is exposed to price risk with respect to commodity and equity prices. Equity price 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 of gold and other precious and base metals, individual equity movements, and the stock market to determine the appropriate course of action to be taken by the Company. Credit Risk Financial instruments that potentially expose the Company to credit risk is cash. To minimize the credit risk on cash the Company places the instrument with a high credit quality financial institution. The maximum exposure to loss arising from these advances is equal to their total carrying amounts. Fair Values The Company’s financial instruments at amortized cost includes cash, accounts payable and accrued liabilities, and loans and promissory note payable. The carrying amounts of these financial instruments approximate their fair values because of their current nature. 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. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 19 9. FINANCIAL INSTRUMENTS AND RISKS – (cont’d) 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. There are no financial instruments carried at fair value. 10. COMMITMENTS AND CONTINGENCIES Flow-through common shares require the Company to spend an amount equivalent to the proceeds of the issued flow-through common shares on Canadian qualifying exploration expenditures. The Company may be required to indemnify the holders of such shares for any tax and other costs payable by them if the Company has not made the required exploration expenditures. During the year ended March 31, 2022, the Company received $2,002,000 from the issuance of flow-through shares. The Company renounced $2,001,834 to the subscribers and has until December 31, 2022, to incur the qualifying expenditures. As at March 31, 2023, the deadline to incur the qualifying expenditures has passed and the Company did not fulfill its obligations of approximately $826,000. An amount totaling $543,700 was accrued for the indemnification of the shareholders for taxes and penalties related to the unspent portion of the commitment including Part XII.6 taxes and related interest and penalties. During the year ended March 31, 2024, the Company paid $32,993 in Part XII.6 taxes and penalties to Revenue Quebec. Included in accounts payable and accrued liabilities as at December 31, 2025 is $653,658 (March 31, 2025 - $618,986) for the indemnification of the shareholders and Part XII.6 taxes and related interest and penalties. 11. LOANS AND PROMISSORY NOTE PAYABLE During the year ended March 31, 2025, the Company entered into a $25,000 promissory note which matures on June 27, 2025. If any amount of principal remains outstanding and unpaid after the maturity date, such unpaid amount shall bear interest at a rate of 3% per month, compounded monthly, commencing on the day following the maturing date until the full amount of principal and accrued interest has been paid in full. During the period ended December 31, 2025, the Company accrued interest of $4,971. As at December 31, 2025, outstanding balance was $29,971 (March 31, 2025 - $25,000). During the year ended March 31, 2025, the Company received a $1,900 promissory note which matures on November 18, 2025. If any amount of principal remains outstanding and unpaid after the maturity date, such unpaid amount shall bear interest at a rate of 3% per month, compounded monthly, commencing on the day following the maturing date until the full amount of principal and accrued interest has been paid in full. During the period ended December 31, 2025, the Company accrued interest of $82. As at December 31, 2025, outstanding balance was $1,982 (March 31, 2025 - $1,900). During the year ended March 31, 2025, the Company received a $6,000 non-interest bearing loan with no fixed terms for repayment. As at December 31, 2025, $6,000 was payable. EARTHWISE MINERALS CORP. Notes to the Condensed Interim Financial Statements As at December 31, 2025 and 2024 (Expressed in Canadian Dollars) (Unaudited – Prepared by Management) 20 12. SUBSEQUENT EVENT Subsequent to the period ended December 31, 2025, the Company: • completed its non-brokered private placement financing by issuing a total of 17,194,414 non-flow through units at a price of $0.035 for gross proceeds of $601,804. Each unit consists of one common share in the authorized share structure of the Company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of $0.05 expiring February 9, 2029. • --- issued 100,000 common shares fair valued at $3,000 pursuant to the extension of an option agreement.