| Summary of changes in stock options |
| | | | | | | | | Weighted Average | | | Number of | | Exercise Price | | | Options | | $ | Balance at December 31, 2023 | | 7,475,000 | | 0.26 | Issued options | | 3,500,000 | | 0.27 | Cancelled options | | (575,000) | | 0.25 | Balance at December 31, 2024 | | 10,400,000 | | 0.27 | Issued options | | 3,250,000 | | 0.94 | Exercised options | | (2,952,500) | | 0.27 | Cancelled/Expired options | | (500,000) | | 0.32 | Balance at December 31, 2025 | | 10,197,500 | | 0.48 |
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| Summary of exercise price range of stock options were outstanding and exercisable |
| | | | | | | | | | | | | | | | | Weighted | | | | | | | | | | Average | | | Number | | Number | | | Exercise | | Contractual | | | Outstanding | | Exercisable | | Price | | Life (Years) | | Expiry Date | 75,000 | | 75,000 | | $ | 0.30 | | 0.02 | | January 8, 2026* | 150,000 | | 150,000 | | $ | 0.22 | | 0.76 | | October 5, 2026 | 1,822,500 | | 1,822,500 | | $ | 0.16 | | 1.76 | | October 5, 2027 | 100,000 | | 100,000 | | $ | 0.30 | | 2.34 | | May 2, 2028 | 1,850,000 | | 1,850,000 | | $ | 0.36 | | 2.57 | | July 26, 2028 | 100,000 | | 100,000 | | $ | 0.30 | | 2.59 | | August 3, 2028 | 2,350,000 | | 2,350,000 | | $ | 0.27 | | 3.30 | | April 18, 2029 | 500,000 | | 500,000 | | $ | 0.30 | | 3.97 | | December 18, 2029 | 400,000 | | 400,000 | | $ | 0.50 | | 4.50 | | July 1, 2030 | 2,850,000 | | 2,850,000 | | $ | 1.00 | | 4.93 | | December 3, 2030 | 10,197,500 | | 10,197,500 | | | | | | | |
* Subsequent to the year-end, 75,000 stock options were exercised (note 20).
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