Miata Metals Corp. Condensed Interim Consolidated Financial Statements for the Three and Nine Months Ended March 31, 2026

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# Miata Metals Corp. Condensed Interim Consolidated Financial Statements for the Three and Nine Months Ended March 31, 2026

Source: https://miatametals.com/wp-content/uploads/2026/06/2026-03-31-Miata-Metals-Corp-FS-Q3-2026.pdf
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# Miata Metals Corp. Condensed Interim Consolidated Financial Statements for the Three and Nine Months Ended March 31, 2026
Source: https://miatametals.com/wp-content/uploads/2026/06/2026-03-31-Miata-Metals-Corp-FS-Q3-2026.pdf
Published: 2026-05-29
Miata Metals Corp.
(an exploration-stage company)
Condensed Interim Consolidated Financial Statements
For the three and nine months ended March 31, 2026
(Unaudited - Expressed in Canadian dollars)
Miata Metals Corp
Condensed Interim Consolidated Statements of Financial Position
(Unaudited – Expressed in Canadian dollars)
March 31, 2026 June 30, 2025
Note $ $
ASSETS
Current Assets
Cash and cash equivalents 9,069,054 2,090,992
Receivables 5 170,924 44,577
Inventory 6 37,912 -
Prepaids and deposits 7 376,774 337,866
Total Current Assets 9,654,664 2,473,435
Non-Current Assets
Equipment and non-current deposits 8 284,861 95,046
Exploration properties 9 10,588,756 10,310,860
Total Non-Current Assets 10,873,617 10,405,906
TOTAL ASSETS 20,528,281 12,879,341
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities 10 1,120,536 1,233,377
TOTAL LIABILITIES 1,120,536 1,233,377
SHAREHOLDERS’ EQUITY
Share capital 11 32,201,288 15,815,917
Reserves 11 3,805,834 2,912,617
Accumulated deficit (18,297,447) (8,884,995)
Accumulated other comprehensive loss (87,962) 16,393
Equity attributable to shareholders of the Company 17,621,713 9,859,932
Non-controlling interest 12 1,786,032 1,786,032
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 20,528,281 12,879,341
Nature of operations and going concern – Note 1
Contingency – Note 18
Subsequent events – Note 19
APPROVED BY THE BOARD:
“James Reid” “Jacob Verbaas”
Director Director
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
Page | 2
Miata Metals Corp
Condensed Interim Consolidated Statements of Loss and Comprehensive Loss
(Unaudited – Expressed in Canadian dollars)
Three months ended Nine months ended
March 31, March 31,
Note 2026 2025 2026 2025
EXPENSES
Exploration and evaluation expenditures 9 $ 2,416,084 $ 1,554,747 $ 6,794,216 $ 2,419,245
Consulting 14 101,891 205,328 851,795 472,871
Marketing and investor relations 327,399 52,436 611,869 216,940
Share-based compensation 14 168,409 262,851 603,027 1,021,372
Management fees, including wages and salaries 14 81,915 68,683 265,887 163,433
Office and administrative expenses 14 104,880 85,958 236,804 199,078
Professional fees 72,480 (91,561) 217,212 111,379
Exchange and filing fees 39,745 20,392 78,794 67,775
Total operating expenses 3,312,803 2,158,834 9,659,604 4,672,093
Other expenses (income)
Foreign exchange loss (gain) (213,171) 3,314 (140,119) (1,092)
Interest and other income (67,384) (22,745) (107,033) (63,246)
Net loss for the period $ 3,032,248 $ 2,139,403 $ 9,412,452 $ 4,607,755
Net loss attributable to:
Shareholders 3,032,248 2,139,403 9,412,452 4,607,755
Non-controlling interests 12 - - - -
Net loss for the period $ 3,032,248 $ 2,139,403 $ 9,412,452 $ 4,607,755
OTHER COMPREHENSIVE LOSS
Items that may be reclassified subsequently to net loss
Exchange differences on translation 178,448 (3) 104,355 891
Other comprehensive loss for the period $ 178,448 $ (3) $ 104,355 $ 891
TOTAL LOSS AND COMPREHENSIVE LOSS $ 3,210,696 $ 2,139,400 $ 9,516,807 4,608,646
Loss attributable to:
Shareholders 3,210,696 2,139,400 9,516,807 4,608,646
Non-controlling interests 12 - - -
Total loss and comprehensive loss $ 3,210,696 $ 2,139,400 $ 9,516,807 $ 4,608,646
Loss per share – basic and diluted $ 0.03 $ 0.04 $ 0.11 $ 0.11
Weighted average number of
common shares outstanding – basic and diluted 105,413,705 49,767,574 85,574,199 41,086,803
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
Page | 3
Miata Metals Corp.
Condensed Interim Consolidated Statements of Changes in Equity
(Unaudited – Expressed in Canadian dollars, except number of shares)
Share Capital
Accumulated
Number of Total Non-
other
common Amount Reserves Deficit shareholders’ controlling Total equity
comprehensive
shares equity interest
loss
$ $ $ $ $ $ $
Balance, June 30, 2024 32,368,609 1,332,527 1,817,564 - (1,448,799) 1,701,292 - 1,701,292
Shares issued pursuant to Acquisition (Note 2(b)) 8,999,953 7,109,963 - - - 7,109,963 - 7,109,963
Shares issued to the 79Finder 1,000,000 790,000 - - - 790,000 - 790,000
Replacement options issued - - 13,669 - - 13,669 - 13,669
Non-controlling interest acquired from 79North (Note 12) - - - - - - 1,613,377 1,613,377
Shares in October Financing 10,623,600 6,374,160 - - - 6,374,160 - 6,374,160
Shares in NBPP 250,000 150,000 - - - 150,000 - 150,000
Shares issued pursuant to the Sela Creek Agreement (Note 9(a)) 127,515 84,160 - - - 84,160 - 84,160
Shares issued pursuant to exercise of Warrants (Note 11(b)) 435,851 378,914 (158,920) - - 219,994 - 219,994
Shares issued pursuant to exercise of Options (Note 11(c)) 100,000 45,246 (20,246) - - 25,000 - 25,000
Share-based compensation (Note 11(c)) - - 1,021,372 - - 1,021,372 - 1,021,372
Share issuance costs - (1,085,063) 446,156 - - (638,907) - (638,907)
Cumulative translation adjustment - - - (891) - (891) - (891)
Net loss for the period - - - - (4,607,755) (4,607,755) - (4,607,755)
Balance, March 31, 2025 53,905,528 15,179,907 3,119,595 (891) (6,056,554) 12,242,057 1,613,377 13,855,434
Balance, June 30, 2025 54,693,695 15,815,917 2,912,617 16,393 (8,884,995) 9,859,932 1,786,032 11,645,964
Shares in August Financing 23,913,044 5,500,000 - - - 5,500,000 - 5,500,000
Shares in December Financing 23,958,500 11,500,080 - - - 11,500,080 - 11,500,080
Shares issued pursuant to the Sela Creek Agreement (Note 9(a)) 592,883 138,540 - - - 138,540 - 138,540
Shares issued pursuant to exercise of Warrants (Note 11(b)) 1,285,750 517,787 (3,487) - - 514,300 - 514,300
Shares issued pursuant to exercise of Options (Note 11(c)) 1,300,000 485,369 (186,369) - - 299,000 - 299,000
Share-based compensation (Note 11(c)) - - 603,027 - - 603,027 - 603,027
Share issuance costs - (1,756,405) 480,046 - - (1,276,359) - (1,276,359)
Cumulative translation adjustment - - - (104,355) - (104,355) - (104,355)
Net loss for the period - - - - (9,412,452) (9,412,452) - (9,412,452)
Balance, March 31, 2026 105,743,872 32,201,288 3,805,834 (87,962) (18,297,447) 17,621,713 1,786,032 19,407,745
Subsequent events – Note 19
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
Page | 4
Miata Metals Corp.
Condensed Interim Consolidated Statements of Cash Flows
(Unaudited – Expressed in Canadian dollars)
Nine months ended
March 31, 2026 March 31, 2025
$ $
OPERATING ACTIVITIES:
Net loss (9,412,452) (4,607,755)
Items not involving cash:
Share-based compensation 603,027 1,021,372
Depreciation 43,710 5,157
Net changes in non-cash working capital items:
Receivables (126,347) (64,935)
Inventory (37,912) -
Prepaids (38,908) (444,729)
Accounts payable and accrued liabilities (94,283) 608,969
Cash used in operating activities (9,063,165) (3,481,921)
INVESTING ACTIVITIES
Acquisition of 79North, net of cash received - (252,414)
Option payments pursuant to the Sela Creek agreement (139,356) (62,150)
Option payments pursuant to the Cabin Lake agreement - (20,000)
Purchases of equipment (91,586) (92,819)
Payment of deposits for equipment (160,497) -
Cash used in investing activities (391,439) (427,383)
FINANCING ACTIVITIES
Proceeds from issuance of Miata Shares in October Financing - 6,374,160
Proceeds from issuance of Miata Shares in NBPP - 150,000
Proceeds from issuance of Miata Shares in August Financing 5,500,000 -
Proceeds from issuance of Miata Shares in December Financing 11,500,080 -
Proceeds from exercise of Options 299,000 25,000
Proceeds from exercise of Warrants 514,300 219,994
Payment of share issuance costs (1,276,359) (638,907)
Cash provided by financing activities 16,537,021 6,130,247
Effects of exchange rate changes on cash (104,355) (891)
Net change in cash 6,978,062 2,220,943
Cash, beginning of period 2,090,992 1,777,551
Cash, end of period 9,069,054 3,997,603
Supplemental Cashflow Disclosure – Note 15
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
Page | 5
Miata Metals Corp.
Notes to the Condensed Interim Consolidated Financial Statements
For the three and nine months ended March 31, 2026
(Unaudited – Expressed in Canadian dollars, except where noted)
1. NATURE OF OPERATIONS AND GOING CONCERN
Miata Metals Corp. ("Miata", or the "Company") was incorporated on July 12, 2021, under the laws of the
Province of British Columbia, Canada and its principal activity is the identification, evaluation, acquisition,
and exploration of mineral properties. On April 23, 2026, the Company’s common shares ("Miata Shares")
commenced trading on the TSX Venture Exchange ("TSXV") under the ticker symbol MMET. The Miata
Shares had previously traded on the Canadian Securities Exchange (the "CSE").
The corporate head office and principal address of the Company is located at 2133-1177 West Hastings
Street, Vancouver, BC, V6E 3T4, Canada. The registered and records office of the Company is 1200 – 750
West Pender Street, Vancouver, BC, V6C 2T8, Canada.
The condensed interim consolidated financial statements for the three and nine-month periods ended March
31, 2026, along with the comparative figures, and the notes thereto (the "Interim Financial Statements")
were approved by the Board of Directors on June 1, 2026.
Going concern
The Interim Financial Statements are presented on a going concern basis, which assumes the Company will
continue to realize its assets and discharge its liabilities in the normal course of operations. There are,
however, conditions and events that cast significant doubt on the validity of this assumption.
The exploration property interests held by Miata are in the exploration stage. The business of mining and
exploration involves a high degree of risk and there can be no assurance that current exploration programs
will result in profitable mining operations.
Miata operates at a loss and does not generate cash flows from operations. The Company has therefore
relied principally on the issuance of equity securities to finance its operating and investing activities to the
extent that such instruments are issuable under terms acceptable to the Company. If future financing is
unavailable, Miata may not be able to meet its ongoing obligations, in which case the realizable values of
its assets may decline materially from current estimates.
These material uncertainties may cast significant doubt on the Company’s ability to continue as a going
concern. The Interim Financial Statements do not include any adjustments to the amounts and classification
of assets and liabilities that might be necessary should the Company be unable to continue operations. These
adjustments could be material.
The assumption that the Company will be able to continue as a going concern is subject to critical judgments
by management with respect to assumptions surrounding the short and long-term operating budgets,
expected profitability, investing and financing activities, and management’s strategic planning. Should
those judgments prove to be inaccurate, management’s continued use of the going concern assumption
could be inappropriate. Although the Company has been successful in the past in obtaining financing, there
can be no assurances that the Company will continue to obtain the additional financial resources necessary
and/or achieve profitability or positive cash flows from its

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