$AAUAF

ALMADEN MINERALS LTD

CIK:0001015647|SEC Filings

Consolidated statements of comprehensive loss - CAD ($)	12 Months Ended
Consolidated statements of comprehensive loss - CAD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Expenses
Professional fees (Note 11(a))	$ 299,230	$ 318,619	$ 1,113,336
Salaries and benefits (Note 11(a))	1,640,709	1,377,903	1,811,073
Travel and promotion	21,753	22,529	50,120
Depreciation (Note 6)	8,000	8,671	11,166
Office and other (Note 11(b))	78,611	73,407	182,457
Amortization of right-of-use assets (Note 5)	101,722	101,722	101,722
Occupancy expenses (Note 5)	50,699	40,318	39,858
Interest expense on lease liabilities (Note 5)	20,413	30,565	39,502
Interest and standby fees on gold loan payable (Note 8)	114,262	295,551	290,164
Listing and filing fees	106,068	100,406	193,490
Insurance	71,222	104,456	103,491
Directors’ fees (Note 11(a))	52,500	120,000	140,000
Share-based payments (Note 10(d) and 11(a))	128,000	(0)	810,150
Total Expenses	2,693,189	2,594,147	4,886,529
Other income (loss)
Administrative services fees (Note 11(b))	1,235,798	1,158,054	1,422,347
Interest and other income	261,131	218,390	370,741
Impairment of exploration and evaluation assets (Note 7)	(82,751)	(55,374)	(63,823,478)
Gain on sale of property and equipment (Note 6)	4,684,164
Fair value adjustments on gold loan payable (Note 8)	(1,121,669)	(1,199,904)	(538,975)
Unrealized gain on gold in trust (Note 8)	405,821	293,695	132,895
Unrealized foreign exchange gain (loss) on gold loan payable (Note 8)	402,803	(600,749)	55,949
Unrealized foreign exchange gain (loss) on gold in trust (Note 8)	(79,506)	114,785	(24,491)
Unrealized gain on warrant liability (Note 9)			102,787
Loss on derecognition of gold loan payable (Note 8)		(372,941)
Foreign exchange gain (loss)	(23,556)	163,130	(49,599)
Total other income (loss)	5,682,235	(280,914)	(62,351,824)
Income (loss) before income taxes	2,989,046	(2,875,061)	(67,238,353)
Deferred income tax recovery (expense) (Note 14)			3,090,208
Net Income (loss) for the year	2,989,046	(2,875,061)	(64,148,145)
Total comprehensive income (loss) for the year	$ 2,989,046	$ (2,875,061)	$ (64,148,145)
Diluted net loss per share	$ 0.02	$ (0.02)	$ (0.47)
Basic net loss per share	$ 0.02	$ (0.02)	$ (0.47)

Consolidated statements of cash flows	12 Months Ended
Consolidated statements of cash flows	Dec. 31, 2025 CAD ($)	Dec. 31, 2024 CAD ($)	Dec. 31, 2023 CAD ($)
Operating activities
Net income (loss) for the year	$ 2,989,046	$ (2,875,061)	$ (64,148,145)
Items not affecting cash
Deferred income tax (recovery) expense			(3,090,208)
Depreciation	8,000	8,671	11,166
Amortization of right-of-use assets	101,722	101,722	101,722
Impairment of exploration and evaluation assets	82,751	55,374	63,823,478
Interest expenses on lease liability	20,413	30,565	39,502
Interest and standby fees on gold loan payable	114,262	295,551	290,164
Gain on sale of property and equipment	(4,684,164)
Fair value adjustments on gold loan payable	1,121,669	1,199,904	538,975
Unrealized gain on gold in trust	(405,821)	(293,695)	(132,895)
Unrealized foreign exchange (gain) loss on gold loan payable	(402,803)	600,749	(55,949)
Unrealized foreign exchange (gain) loss on gold in trust	79,506	(114,785)	24,491
Unrealized gain on warrant liability			(102,787)
Loss on derecognition of gold loan payable		372,941
Share-based payments	128,000	(0)	810,150
Changes in non-cash working capital components
Accounts receivable and prepaid expenses	(37,784)	142,321	(194,169)
Trade and other payables	38,721	(426,693)	601,499
Net cash used in operating activities	(846,482)	(902,436)	(1,483,006)
Investing activities
Property and equipment – purchase	(41,580)	(1,328)	(2,037)
Net proceeds on sale of property and equipment	11,266,219
Exploration and evaluation assets – costs	(82,751)	(55,374)	(799,253)
Net cash from (used in) investing activities	11,141,888	(56,702)	(801,290)
Financing activities
Options exercised	8,000
Shares issuance cost on cashless exercise of options	(9,810)
Repayment of gold loan payable	(7,143,795)
Repayment of lease liabilities	(134,394)	(131,095)	(127,797)
Net cash used in financing activities	(7,279,999)	(131,095)	(127,797)
Change in cash and cash equivalents	3,015,407	(1,090,233)	(2,412,093)
Cash and cash equivalents, beginning of year	3,155,750	4,245,983	6,658,076
Cash and cash equivalents, end of year	$ 6,171,157	$ 3,155,750	$ 4,245,983

Consolidated statements of financial position	Dec. 31, 2025 CAD ($)	Dec. 31, 2024 CAD ($)
Current assets
Cash and cash equivalents (Note 13)	$ 6,171,157	$ 3,155,750
Gold in trust (Note 8)		1,491,281
Accounts receivable and prepaid expenses (Note 4)	331,736	293,952
Current assets	6,502,893	4,940,983
Non-current assets
Deposits	17,367	17,367
Right-of-use assets (Note 5)	127,153	228,875
Property and equipment (Note 6)	45,924	6,594,399
Exploration and evaluation assets (Note 7)	1	1
Non current assets	190,445	6,840,642
TOTAL ASSETS	6,693,338	11,781,625
Current liabilities
Trade and other payables (Note 11 (a))	463,186	424,465
Current portion of lease liabilities (Note 5)	128,766	113,981
Current liabilities	591,952	538,446
Non-current liabilities
Long-term portion of lease liabilities (Note 5)	34,358	163,124
Gold loan payable (Note 8)		8,128,263
Non current liabilities	34,358	8,291,387
Total liabilities	626,310	8,829,833
EQUITY
Share capital (Note 10)	141,104,844	141,040,654
Reserves (Note 10)	23,418,523	23,356,523
Deficit	(158,456,339)	(161,445,385)
Total equity	6,067,028	2,951,792
TOTAL EQUITY AND LIABILITIES	$ 6,693,338	$ 11,781,625