Lac Gold (LAC) Q3 2025 TU earnings summary

Executive summary

• Limited exploration activities were conducted as the company assessed new gold and copper project opportunities to complement its Pickle Lake Gold Project.

• The Pickle Lake Gold Project remains highly prospective, with focus on the Eastern Hub for near-term exploration due to favorable access and proximity to historical mines.

• The company continues to rationalize its tenement package, prioritizing the most prospective areas and preserving exploration credits.

Financial highlights

• Cash balance at 31 March 2025 was A$11.5 million, with no debt.

• Quarterly cash outflows included staff costs of $127k, admin and corporate costs of $137k, and exploration and evaluation outflows of $28k.

• Interest income for the quarter was $83k.

• The company retains ~13 million shares in Green Technology Metals, valued at ~$900k.

Outlook and guidance

• Actively pursuing new opportunities to enhance the resource base and maximize shareholder value.

• Focus remains on systematic gold exploration at Pickle Lake and evaluating complementary gold and copper projects.