Not focusing on the negatives 2025

Financial Overview
The Company closed the 2024 calendar year with a cash balance of $15.7 million which compares to
$9.0 million at the end of 2023. The year-on-year increase in

Appointment of Vice President ExplorationDuring the fourth quarter, AuMEGA appointed highly experienced and well-respected explorationgeologist, Rick Greenwood as the Company’s Vice President of Exploration, He has a Bachelor of Sciences degree in Geological and Earth Sciences/Geosciences from MemorialUniversity in Newfoundland and Labrador.

Bunker Hill ProjectThe Bunker Hill West area is characterised by the east-west trending CRSZ, which displays significantstructural complexity with several major second order splays.During the Canadian fall of 2024, the Company completed a limited till program over the Bunker HillWest area2, located at the eastern edge of the Malachite Project and site of the Company’s large 2021geochemistry survey7. The Bunker Hill West till survey included grid lines 400 metres apart withstations spaced at 100 metres and centred over a cluster of historical high-grade outcroppingsamples8 that graded 18.67 g/t gold and 12.25 g/t gold.

: OVERVIEW OF BUNKER HIL WEST TARGET & RESULTSIn 2021, the Company completed a high-resolution, airborne magnetic survey over a 44 kilometrestretch from the Cape Ray and Isle Aux Morts Projects to the boundary limit of the MalachiteProject11. In 2024, the Company continued the high-resolution airborne geophysical survey fromMalachite over the Bunker Hill area, collecting a dataset of magnetic, VLF-EM and radiometric data.The survey consisted of 3,142 line-kilometres over 25 kilometres of strike flown across Bunker Hillfor a total of approximately 170 km2 of coverage. Data was acquired at 60-metre line spacing with asensor height of 30 metres.

Nitty Gritty Granite that have intruded within the sedimentary package andbecome entrained within the CRSZ. Recent outcropping results grading up to 17% copper and 19.1 g/tsilver

An example of this is the Bunker Hill West Target (see Figure 2)where previous prospecting and mapping results have identified the presence of a mafic unit that iscut by a major second order structure with the spatial correlation to gold mineralisation with samplesupwards of 18.9 g/t gold13.Furthermore, the Billiards Brook Formation, which appears similar to the Windsor Point Group(current host of the Company’s gold mineral resource), is observed to be upwards of two kilometresthick, representing the thickest occurrence outside of the Company’s Central Zone, nearly 50kilometres away to the southwest.