Borealis Mining Company (BOGO) investor relations material

Executive summary

• Fiscal 2026 marked a shift from processing historical stockpiles to resumed open-pit mining and commercial production; annual revenue reached $12.65 million and gross profit $4.95 million.

• Q4 operations continued mine development, material movement, crushing, stacking and gold recovery, with a focus on coordinating activities and improving use of existing infrastructure.

Financial highlights

• FY2026 revenue rose to $12.65 million from $3.78 million YoY; gross profit was $4.95 million versus $0.49 million.

• FY2026 net loss narrowed to $4.74 million from $14.87 million; the comparison benefited from no repeat of the $6.89 million Gold Bull Resources acquisition expense booked in FY2025.

• Q4 revenue was $3.63 million, gross profit $1.61 million and net loss $0.13 million; Q4 2025 revenue was $1.20 million, gross profit $0.15 million and net loss $1.04 million.

• Cash used in operating activities was $9.19 million in FY2026; cash from financing activities was $23.71 million.

Outlook and guidance

• FY2027 Borealis Mine gold production target is 15,250–19,250 oz; priorities include operating efficiency, converting inventory into sales, and disciplined cost and working-capital management.

• Guidance depends on operating conditions, metallurgical performance and funding; Sandman advancement remains subject to technical results, permitting and financing.