Tamarack North Project

51%-owned (49% Rio Tinto's Kennecott Exploration Company) nickel-copper-cobalt-PGM-gold project located in Aitkin County, north-central Minnesota, USA, approximately 100 km west of Duluth. Hosts the Tamarack Igneous Complex (TIC) - an ultramafic intrusion related to the Midcontinental Rift dated at 1105 Ma. Mineral Resource Estimate (effective October 10, 2022) prepared by WSP Golder reported at a 0.50% Ni cut-off in the Indicated and Inferred categories. Key zones include the Massive Sulphide Unit (MSU), Coarse Grained Orthocumulate (CGO) East/West and 138 Zone domains. Subject to a Tesla Supply Agreement for nickel concentrate delivery. PEA #3 considered an 8.02 Mt composite at 1.69% Ni and 0.95% Cu head grade. As at the AIF effective date (Dec 31, 2025) Tamarack North was the Company's only material property (prior to the January 2026 Eagle Mine acquisition).