Warrants

3 Months Ended

Jan. 31, 2026

NOTE 13 – WARRANTS

A summary of warrant activity for the three months ended January 31, 2026 is as follows:


Warrants	Shares		Weighted Average Exercise Price ($CDN)		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value

Outstanding and exercisable at October 31, 2025		5,742,499	$	0.13		3.00	$	615,952
Outstanding and exercisable at January 31, 2026		5,742,499	$	0.13		2.75	$	712,896

No warrants were issued or exercised during the three months ended January 31, 2026 or 2025.

Summarized information about warrants outstanding and exercisable at January 31, 2026 is as follows:


	Warrants Outstanding and Exercisable
	Exercise Price ($CDN)	Number Outstanding	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price ($CDN)
$	0.13	5,742,499	2.75	$	0.13

During the year ended October 31, 2023, the Company issued 5,842,499 warrants with an exercise price of Canadian dollar ("$CDN") $0.13 in connection with the $CDN 0.11 Unit private placement. The Company’s $CDN warrants have been recognized as a derivative liability as the currency denomination of the exercise price is different from the functional currency of the Company.

The following is a summary of the Company’s warrant derivative liability at January 31, 2026:


Warrant derivative liability at October 31, 2025	$	777,095
Foreign currency translation adjustment		27,780
Change in fair value of warrant derivative liability		70,896
Warrant derivative liability at January 31, 2026	$	875,771

The fair value of the warrants issued in the $CDN 0.11 Unit private placement was revalued to be $875,771 based on the Black-Scholes pricing model using a risk-free interest rate of 3.58%, expected volatility of 58.93%, dividend yield of 0%, and a contractual term of 2.75 years as of January 31, 2026.