AI assistant
Talent Infinity Resource Developments Inc. — Interim / Quarterly Report 2026
Apr 30, 2026
48195_rns_2026-04-29_e73ff936-7ec6-46e6-b7c9-4a222399ebce.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company)
CONDENSED INTERIM FINANCIAL STATEMENTS (Expressed in Canadian Dollars)
FOR THE PERIODS ENDED FEBRUARY 28, 2026 AND 2025
Unaudited – Prepared by Management
(Expressed in Canadian Dollars)
MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING
The accompanying unaudited condensed interim financial statements of Talent Infinity Resource Developments Inc. (the "Company") are the responsibility of management and the Board of Directors.
The unaudited condensed interim financial statements have been prepared by management on behalf of the Board of Directors, in accordance with the accounting policies disclosed in the notes to the unaudited condensed interim financial statements. Where necessary, management has made informed judgments and estimates in accounting for transactions which were not complete at the statement of financial position date. In the opinion of management, the unaudited condensed interim financial statements have been prepared within acceptable limits of materiality and are in accordance with International Accounting Standard 34 - Interim Financial Reporting using accounting policies consistent with International Financial Reporting Standards appropriate in the circumstances.
Management has established processes, which are in place to provide it sufficient knowledge to support management representations that it has exercised reasonable diligence that: (i) the unaudited condensed interim financial statements do not contain any untrue statement of material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it is made, as of the date of, and for the periods presented by, the unaudited condensed interim financial statements; and (ii) the unaudited condensed interim financial statements fairly present in all material respects the financial condition, results of operations and cash flows of the Company, as of the date of and for the periods presented by the unaudited condensed interim financial statements.
The Board of Directors is responsible for reviewing and approving the unaudited condensed interim financial statements together with other financial information of the Company and for ensuring that management fulfills its financial reporting responsibilities. An Audit Committee assists the Board of Directors in fulfilling this responsibility. The Audit Committee meets with management to review the financial reporting process and the unaudited condensed interim financial statements together with other financial information of the Company. The Audit Committee reports its findings to the Board of Directors for its consideration in approving the unaudited condensed interim financial statements together with other financial information of the Company for issuance to the shareholders.
Management recognizes its responsibility for conducting the Company’s affairs in compliance with established financial standards, and applicable laws and regulations, and for maintaining proper standards of conduct for its activities.
NOTICE TO READER
The accompanying unaudited condensed interim financial statements of the Company have been prepared by, and are the responsibility of management. The unaudited condensed interim financial statements have not been reviewed by the Company's auditors.
2
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (Formerly Talent Infinity Capital Fund Corporation) ( an exploration stage company) CONDENSED INTERIM STATEMENTS OF FINANCIAL POSITION
(Unaudited - Expressed in Canadian Dollars)
| As at, | Notes: | February 28, | May 31, |
|---|---|---|---|
| 2026 | 2025 | ||
| ASSETS | |||
| Current | |||
| Cash | $ 1,632,529 | $ 4,491 | |
| Prepaid expenses | 2,296 | 3,583 | |
| Receivables | 4,788 | 8,857 | |
| Total current assets | 1,639,613 | 16,931 | |
| Non-current | |||
| Exploration and evaluation assets | 5 | 420,000 | 120,000 |
| TOTAL ASSETS | $ 2,059,613 | $ 136,931 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Current | |||
| Accounts payable and accrued liabilities | 4 | 36,687 | $ 40,845 |
| Loans Payable | 8 | 215,446 | 213,045 |
| Total current liabilities | 252,133 | 253,890 | |
| Non-current | |||
| Loan payable | 8 | 43,911 | 41,542 |
| TOTAL LIABILITIES | 296,044 | $ 295,432 | |
| Shareholders’ Equity (Deficiency) | |||
Share Capital |
7 | 2,423,970 | 479,593 |
| Contributed surplus | 1,149,316 | 2,316 | |
| Deficit | (1,809,717) | (640,410) | |
| Total shareholders’ equity (deficiency) | 1,763,569 | (158,501) | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY) |
$ 2,059,613 | $ 136,931 |
Nature and continuance of operations (Note 1)
Approved and authorized by the Board on April 29, 2026
/s/ “Derrick Gaon” /s/ “Barry Bergstrom”
Derrick Gaon, Director Barry Bergstrom, Director
The accompanying notes are an integral part of these financial statements.
3
TALENT INFINITY RESOURCE DEVELOPMENTS INC.
(Formerly Talent Infinity Capital Fund Corporation) ( an exploration stage company)
CONDENSED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS For the periods ended February 28, 2026 and 2025 (Unaudited – Expressed in Canadian Dollars)
| Three |
Months Ended |
Nine |
Months Ended |
|
|---|---|---|---|---|
| February 28, | February 28, | February 28, | February 28, | |
| 2026 | 2025 | 2026 | 2025 | |
| EXPENSES | ||||
| Management and Consulting fees | 15,000 | 1,057 | 28,150 | $ 4,614 |
| Exploration expenses | - | - | - | - |
| General and office administration | 205 | 216 | 211 | 2,225 |
| Professional fees |
2,610 | - | 7,610 | 5,000 |
| Filing fees | 6,399 | 4,551 | 21,586 | 15,876 |
| Share based compensation | 1,147,000 | 1,147,000 | ||
| (1,171,214) | (5,824) | (1,204,557) | (27,715) | |
| OTHER INCOME | ||||
| Miscellaneous consulting income |
- | - | 40,000 | - |
| Interest income | 3 | 609 | 7 | 1,816 |
| Foreign exchange gain/(loss) |
- |
(5,458) |
13 |
(8,282) |
| Finance costs | (4,770) |
(1,133) |
(4,770) |
(2,886) |
| (4,767) | (5,982) | 35,250 | (9,352) | |
| Loss and comprehensive loss for the period |
$ ( 1,175,981) | $ (11,807) | $ (1,169,307) | $ (37,067) |
| Basic and diluted loss per common | $(0.05) | $(0.00) | $(0.05) | $(0.00) |
| share | ||||
| Weighted average number of common shares outstanding |
24,716,841 | 19,978,548 | 21,540,623 | 19,978,548 |
The accompanying notes are an integral part of these financial statements.
4
TALENT INFINITY RESOURCE DEVELOPMENTS INC.
(Formerly Talent Infinity Capital Fund Corporation) ( an exploration stage company)
CONDENSED INTERIM STATEMENT OF CASH FLOWS
For the periods ended February 28, 2026 and 2025 (Unaudited - Expressed in Canadian Dollars)
| February 28, | February 28, | |
|---|---|---|
| 2026 | 2025 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Loss for the period |
(1,169,307) | $ (37,067) |
| Accrued interest income | - | 4,941 |
| Accretion on long term loans | 2,370 | 568 |
| Accrued interest expense | 2,400 | 1,795 |
| Foreign exchange on loans payable | - | 5,207 |
| Share based compensation | 1,147,000 | |
| Change in non-cash working capital items: | ||
| Accounts payable and accrued liabilities | (4,158) | 18,352 |
| Government remittances receivable | 4,069 | (599) |
| Accounts receivable | - | (3,690) |
| Prepaid expenses | 1,287 | (4,251) |
| Net Cash used in operatingactivities | (16,339) | (14,744) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Repayment of loan payable | - | (54,226) |
| Proceeds received on loan payable | - | 53,058 |
| Share issue costs | (4,550) | - |
| Proceeds from issuance of shares and units | 1,948,927 | - |
| Net cash provided by financing activities | 1,944,377 | (1,168) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Loan receivable | - | $ 21,145 |
| Mineral property, exploration and evaluation assets | (300,000) | 0 |
| Net cash used in investing activities | (300,000) | 21,145 |
| Change in cash for the period | $ 1,628,038 | $ 5,233 |
Cash, beginning of period |
4,491 | 5,765 |
| Cash, end of period | $ 1,632,529 | $ 10,998 |
| Cash paid during the period for interest | $- | $- |
| Cash paid during the period for income taxes | $- | $- |
The accompanying notes are an integral part of these financial statements.
5
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) CONDENSED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY For the periods ended February 28, 2026 and 2025
(Unaudited - Expressed in Canadian Dollars)
| Share Ca | pital | ||||||
|---|---|---|---|---|---|---|---|
| Notes: | Number | Amount | Shares to be issued | Contributed Surplus |
Deficit | Total | |
| Balance at May 31, 2024 | 19,978,548 | $ 479,593 | $ - | $ 2,316 | $(603,641) | $(121,732) | |
| Loss for the period | - | - | - | - | (37,067) | (37,067) | |
| Balance at February 28, 2025 | 19,978,548 | $ 479,593 | $- | $ 2,316 | $ (640,708) | $ (158,799) | |
| Balance at May 31, 2025 | 19,978,548 | $ 479,593 | $- | $ 2,316 | $ (640,410) | $ (158,501) | |
| Shares Issued at $0.05 - January 19, 2026 |
4,000,000 | $200,000 | $ - | - | $200,000 | ||
| Shares Issued at $0.06 - January 22, 2026 |
5,000,000 | $300,000 | $ - | - | $300,000 | ||
| Units Issued at $0.10 - February 24, 2026 |
14,489,274 | $ 1,448,927 | $ - | - | $ 1,448,927 | ||
| - Issue Costs |
- | $ (4,550) | $ (4,550) | ||||
| Share Based Compensation | - | - | $- | 1,147,000 | $ 1,147,000 | ||
| Loss for the period | - | - | $- | $ (1,169,307) | $ (1,169,307) | ||
| Balance at February 28, 2026 | 43,467,822 | $ 2,423,970 | $- | $ 1,149,316 | $ (1,809,717) | $ 1,763,569 |
6
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
1. NATURE AND CONTINUANCE OF OPERATIONS
Talent Infinity Capital Corporation (the “Company”) is incorporated under the Business Corporations Act , (British Columbia). On January 14, 2021, the Company changed its name to Talent Infinity Resource Developments Inc. The Company is engaged in the acquisition, exploration, and development of mineral resource properties located in Canada. The Company was incorporated on June 25, 2020.
The Company’s head office is located at 1710-105 0 West Pender Street, Vancouver, BC, V6E 3S7. The recovery of the amounts comprising mineral properties is dependent upon the confirmation of economically recoverable reserves, the ability of the Company to obtain necessary financing to successfully complete their exploration and development, and upon future profitable production.
These condensed interim financial statements have been prepared by management on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. At February 28, 2026 the Company had not yet achieved profitable operations, had accumulated losses of $ 1,809,717 since its inception, and expects to incur further losses in the development of its business, all of which casts significant doubt about the Company’s ability to continue as a going concern. A number of alternatives including but not limited to selling an interest in one or more of its properties or completing a financing, are being evaluated with the objective of funding ongoing activities and obtaining working capital. 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 financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.
2. SIGNIFICANT ACCOUNTING POLICIES
Statement of Compliance
These condensed interim financial statements, including comparatives, have been prepared in accordance with International Accounting Standards 34 – Interim Financial Reporting using accounting policies consistent with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and interpretations of the International Financial Reporting Interpretations Committee. The accounting policies and methods of computation applied by the Company in these condensed interim financial statements are the same as those applied in the Company’s annual financial statements as at, and for the year ended May 31, 2025.
Basis of Presentation
These condensed interim financial statements have been prepared on a historical cost basis except for some financial instruments classified in accordance with measurement standards under IFRS. These condensed interim financial statements are presented in Canadian dollars unless otherwise specified.
“The reminder of this page is intentionally left blank”
7
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Significant accounting policies
The accounting policies followed by the Company are set out in Note 3 to the audited financial statements for the year ended May 31, 2025 and have been consistently followed in the preparation of these condensed interim financial statements. The Company used the same accounting policies and methods of computation as in the audited annual financial statements for the year ended May 31, 2025.
Unit Offerings
The Company may issue units consisting of common shares and warrants. The proceeds received are allocated between common shares and warrants using the residual value method. Under this method, the fair value of the common shares is determined first based on the quoted market price, and the residual amount is allocated to the warrants. The value allocated to warrants is recorded in contributed surplus within shareholders’ equity.
3. SIGNIFICANT ESTIMATES, ASSUMPTIONS AND JUDGEMENTS
The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the year. Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates. The most significant accounts that require estimates as the basis for determining the stated amounts include Economic recoverability and probability of future economic benefits of mineral properties and recognition of deferred income tax amounts.
Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the financial statements are as follows:
Economic recoverability and probability of future economic benefits of mineral properties
Management has determined that mineral property costs incurred which were capitalized have future economic benefits and are economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including geological and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping and feasibility studies, accessible facilities, existing permits and life of mine plans.
Income taxes
In assessing the probability of realizing income tax assets, management makes estimates related to expectations of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.
4. ACCOUNTS PAYABLES AND ACCRUED LIABILITIES
The Company’s accounts payable and accrued liabilities are as follows:
| February 28, 2026 |
May 31, 2025 | |
|---|---|---|
| Trade payables | $ 21,687 | $ 31,845 |
| Accrued liabilities | 15,000 | 9,000 |
| Total | $ 36,687 | $ 40,845 |
8
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
5. MINERAL PROPERTIES
On June 30, 2020 and amended on September 13, 2024, September 24, 2025, and January 21, 2026, the Optionor granted the Company (the “Optionee”) the sole and exclusive right and option (the "Option") for a period of 10 years plus 5 months from the Effective Date (the "Option Period" the total period ending on November 30, 2030), to acquire, at the election of the Optionee, an undivided 70% interest in certain mineral claims situated in the Quesnel Terrane area of the Province of British Columbia (the “Wildcat Property”). The exploration expense and option payment requirements are summarized as follows:
| Date | Amended Payments Required as of January 21, 2026 (in accordance withSection 3.1) Option Payments and Exploration Expenditures |
|---|---|
| By July 31, 2021 | $20,000 (paid) |
| By November30,2021 | $50,000 (paid) |
| On or before the earlier of the second anniversary of the Listing Date or byNovember 30, 2022 |
$50,000 (paid) |
| On or before the earlier of the third anniversary of the Listing Date or byNovember 30, 2023 |
Nil (had not paid the originally due $250,000) |
| On or before the earlier of the fourth anniversary of the Listing Date or by November 30, 2024 |
Nil (had not paid the September 13, 2024 amount due $100,000) |
| On or before March 31,2025 | Nil Option Payment and Nil property expenditures |
| On or before November 30, 2025 On or before November 30, 2026 |
$200,000 as an Option Payment (waived under January 2026 amendment) $300,000 Option payment Now in Cash or by issuance of Shares at $0.06 (original $200,000 due November 30, 2025, $50,000 from the November 2026 payment in advance and $50,000 late penalty) No expenditures required until November 2027. |
| On or before November 30, 2027 | $300,000 Option Payment by March 1, 2027 and $250,000 to be allocated and available to be spent as expendituresin developing the property by November30, 2027 (Originally$350,000 Option Payment and $250,000 Expenditures by 2026) |
| On or before November 30, 2028 | $500,000 Option Payment by March 1, 2028 and $500,000 to be allocated and available to be spent as expenditures in developing the property by November 30, 2028 |
| On or before November 30, 2029 | $1,000,000 Option Payment by March 1, 2028 and $1,500,000 to be allocated and available to be spent as expenditures in developing the property by November 30, 2029 |
| On or before November 30, 2030 |
$10,000,000 Final Option Payment to own the 70% interest in the Wildcat property |
| TOTAL | $12,220,000 (Option Payments) and $2,250,000 in Development Expenditures |
9
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
5. MINERAL PROPERTIES (Continued)
The following is the Company’s exploration and evaluation expenditures as at February 28, 2026:
| Wildcat Property |
Total | |
|---|---|---|
| Acquisition Costs | ||
| Balance May 31, 2025 | $ 120,000 | $ 120,000 |
| Additions January 22,2026 | 300,000 | 300,000 |
| Balance, February 28, 2026 | $420,000 | $ 420,000 |
During the current period, the Company capitalized $300,000 relating to the acquisition of exploration and evaluation assets
The following table shows the activity by category of exploration:
| Exploration Expenses | February 28, 2026 | February 28, 2025 |
|---|---|---|
| ($) | ($) | |
| Geological surveying, consulting and reporting | - | - |
| Field support and supplies | - | - |
| Total | - | - |
The Company incurred no exploration and evaluation expenses during the period ended February 28, 2026 (2025 - $Nil).
6. RELATED PARTY TRANSACTIONS
The Company entered into the following transactions with related parties:
During the period ended February 28, 2026, the company received advances totaling $2,700 from the former CEO, comprising $1,500 on July 2, 2025 and $1,200 on September 2, 2025. These advances were unsecured, non- interest bearing, repayable on demand, and were fully repaid during the period. Accordingly, no balance remains outstanding as at February 28, 2026.
The Company incurred management and consulting fees to related parties of $28,150 (February 28, 2025 – 2,114). The amounts incurred to related parties for the period ended are as follows: To the prior CEO, Derrick Gaon - $10,000, to the prior CFO, Wanting (Virginia) Li - $3,150, and to the current CEO, John Eren - $15,000
As at February 28, 2026, the company had amounts payable to directors of the Company totaling $8,633 (February 28, 2025 -$2,704) which was owed to the previous CEO and current director Derrick Gaon and an amount receivable of $Nil (February 28, 2025 – $2,704) from a director of the Company.
During the period ended February 28, 2026, in the previous quarter ended November 30, 2025, the company provided management and strategic advisory services to Resource Centrix Holdings Inc. in connection with resolving a mining property default, for total fees of $40,000. Resource Centrix Holdings Inc. is a related party under IAS 24 – Related Party Disclosures, as the Company and Resource Centrix Holdings Inc. at that time shared a common director and officer, Derrick Gaon. The $40,000 has been recorded under Miscellaneous Consulting Income in the condensed interim statements of loss and comprehensive loss ($Nil in the prior year’s period).
All related party transactions are in the normal course of operations and have been measured at the agreed to amount, which is the amount of consideration established and agreed to by the related parties.
7. SHARE CAPITAL AND RESERVES
- a) Authorized share capital
As at February 28, 2026, the authorized share capital of the Company is an unlimited number of common shares
10
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
without par value.
7. SHARE CAPITAL AND RESERVES (CONTINUED)
- a) Issued share capital:
For the period ended February 28, 2026:
On January 19, 2026 4,000,000 Shares Issued at $0.05 to raise $200,000
On January 22, 2026 5,000,000 Shares Issued at $0.06 in lieu of debt for a property option payment
On February 24, 2026, the Company issued 14,489,274 Units at a price of $0.10 per unit for gross proceeds of $1,448,927. Each unit consisted of one common share and one warrant exercisable at $0.15 for a period of 24 months. The proceeds were allocated to share capital and warrants using the residual value method.
- b) Warrants:
On February 24, 2026 14,489,274 Warrants were Issued as part of the LIFE Offering for Units with an expiry of 24 months. These warrants were exercisable at $0.15.
Continuity of the Company’s warrants is as follows:
| Number of Warrants | Weighted Average Exercise Price | |
|---|---|---|
| Outstanding, May 31, 2024 | - | - |
| Issued | - | - |
| Outstanding, May 31, 2025 | - | - |
| Issued | 14,489,274 | $0.15 |
| Expired | - | - |
| Outstanding, February 28, 2026 | **14,489,274 ** | $0.15 |
c) Options:
On February 25, 2026, 4,346,000 options were granted at $0.35 to directors, officers and consultants of the Company. The options were vested immediately and are exercisable for a period of 5 years from the date of grant. The Company used the Black Scholes option pricing model to estimate the fair value of the options to be $1,147,000. The following assumptions were used: risk free interest rate of 2.73%, dividend yield of 0%, expected volatility of 100% and expected life of 5 years.
Continuity of the Company’s options is as follows:
| Number of Options | Weighted Average Exercise Price | |
|---|---|---|
| Outstanding, May 31, 2025 | - | - |
| Granted | 4,346,000 | $0.35 |
| Exercised | - | - |
| Expired | - | - |
| Outstanding February 28, 2026 | 4,346,000 | $0.35 |
11
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
8. LOANS PAYABLE
The Company’s loans payable consists of unsecured borrowings from related and non-related parties. Loans are classified as current where they are due on demand or have matured, and non-current where contractual repayment terms extend beyond twelve months.
(a) Summary of Loans Payable
| Description | February 28, 2026 | May 31, 2025 |
|---|---|---|
| Current loans payable | 215,446 | 213,045 |
| Non-current loans | 43,911 | 41,542 |
| payable | ||
| Total loans payable | 259,357 | 254,587 |
(b) Continuity of Loans Payable
| Description | Amount |
|---|---|
| Balance, May 31, 2025 | 254,587 |
| Increase from accretion & accrued interest | 4,770 |
| Balance, February 28, 2026 | 259,357 |
The increase in loans payable during the period relates to accretion and interest recognized on the interest-bearing loan.
(c) Non-Interest-Bearing Loans (Current)
On October 15, 2025, certain outstanding loans payable were acquired by entities controlled by the former Chief Executive Officer (CEO). The assignment did not result in any modification to the repayment terms, interest terms, or maturity profile of the underlying loans.
As of February 28, 2026, loans totaling $213,046 are owed to the former CEO and entities controlled by the former CEO.
(d) Short-Term Advances from CEO (Related Party)
During the nine-month period, the Company received advances from the former CEO totaling $2,700, comprising $1,500 advanced on July 2, 2025 and $1,200 advanced on September 2, 2025. These advances are unsecured, non-interest bearing, have no fixed terms of repayment and are repayable on demand. The full amount was repaid by February 28, – 2026 (May 31, 2025 $nil).
(e) Interest-Bearing Loan (Non-Current)
On January 24, 2025, the Company obtained a loan of $50,000 bearing interest at 8% per annum with a three-year term. Principal and interest are payable at maturity. The loan is measured at amortized cost using the effective interest method. The carrying value at February 28, 2026 was $43,911 and at May 31, 2025 was $41,542. Accretion expense of $2,369 was recognized during the nine-month interim period.
(f) Other Loans
The Company has additional legacy loans that are unsecured, non-interest bearing and due on demand. These loans are included within current liabilities and remained substantially unchanged during the period.
(g) Related Party Disclosure
Included in loans payable are amounts totaling $213,046 due to Derrick Gaon, former CEO and entities controlled by him. These loans are unsecured, non-interest bearing and repayable on demand.
(h) Liquidity Risk
As a significant portion of loans payable are due on demand and include related party balances, the Company’s ability to continue operations is dependent on continued financial support from related parties and its ability to raise additional financing.
12
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
8. LOANS PAYABLE (CONTINUED)
(i) Maturity Analysis
Description On Demand 1–3 Years Total / <1 Year Non-interest-bearing 215,446 - 215,446 loans & CEO advances Interest-bearing loan - 43,911 43,911 Total 215,4465 43,911 259,357
The above table presents the maturity profile of the financial liabilities based on their carrying amounts. Contractual interest is not significant. Loans repayable on demand are classified within one year, while the interest-bearing loan is presented based on its contractual maturity
9. LOANS RECEIVABLE
The Company had $Nil in loans receivable on February 28, 2026 ($Nil – February 2025).
10. SEGMENTED INFORMATION
The Company operates in one reportable operating segment, being the acquisition and exploration of mineral properties in Canada. As the operations comprise a single reporting segment, amounts disclosed also represent segment amounts.
11. FINANCIAL AND CAPITAL RISK MANAGEMENT
The three levels of the fair value hierarchy are:
Level 1 – unadjusted quoted prices in active markets for identical assets or liabilities;
Level 2 – inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and
Level 3 – inputs that are not based on observable market data.
The Company enters into financial instruments to finance its operations in the normal course of business. The fair values of cash and accounts payable approximate their carrying values due to the short-term maturity of these instruments.
The fair value of the Company’s financial instruments has been classified within the fair value hierarchy as at February 28, 2026, as follows:
| Level 1 | Level 2 | Level 3 | Total | |
|---|---|---|---|---|
| Financial Assets | ||||
| Cash | $1,632,529 | - | - | $1,632,529 |
| $1,632,529 | - | - | $1,632,529 |
The Company is exposed to varying degrees to a variety of financial instrument related risks:
Foreign exchange risk
Foreign exchange risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates The Company has certain monetary assets denominated in United States Dollars. As at February 28, 2026, a reasonable possible 10% fluctuation in the USD/CAD exchange rate would not have a material impact on the Company’s net loss and comprehensive loss.
11. FINANCIAL AND CAPITAL RISK MANAGEMENT (CONTINUED)
Credit risk
13
TALENT INFINITY RESOURCE DEVELOPMENTS INC. (formerly Talent Infinity Capital Fund Corporation) (an exploration stage company) NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS (Unaudited - Expressed in Canadian Dollars) FOR THE PERIODS ENDED February 28, 2026 and 2025
The Company’s cash is largely held in large Canadian financial institutions. The Company does not have any assetbacked commercial paper. The Company maintains cash deposits with Schedule A financial institution, which from time to time may exceed federally insured limits. The Company has not experienced any significant credit losses and believes it is not exposed to any significant credit risk.
Interest rate risk
Interest rate risk is the risk the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Financial assets and liabilities with variable interest rates expose the Company to ash flow interest rate risk. The Company does not hold any financial liabilities with variable interest rates. The Company does maintain bank accounts which earn interest at variable rates but it does not believe it is currently subject to any significant interest rate risk.
Liquidity risk
The Company’s ability to continue as a going concern is dependent on management’s ability to raise required funding through future equity issuances and through short-term borrowing. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board of Directors are actively involved in the review, planning and approval of significant expenditures and commitments.
Price risk
The ability of the Company to explore its mineral properties and the future profitability of the Company are directly related to the market price of precious metals. The Company monitors precious metals prices to determine the appropriate course of action to be taken by the Company.
Capital management
The Company defines its capital as shareholders’ equity. The Company manages its capital structure and makes adjustments to it, based on the funds available to the Company, in order to support the acquisition and exploration and development of mineral properties. The Board of Directors do not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company’s management to sustain future development of the business. The properties in which the Company currently has an interest are in the exploration stage. As such, the Company has historically relied on the equity markets to fund its activities. In addition, the Company is dependent upon external financings to fund activities. In order to carry out planned exploration and pay for administrative costs, the Company will need to raise additional funds. The Company will continue to assess new properties and seek to acquire an interest in additional properties if it feels there is sufficient geologic or economic potential and if it has adequate financial resources to do so. Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable.
14