Company: LINMF
Filing Date: 2025-08-01
Form Type: 20-F
Source: 0001176256-25-000065
Chunk: 42

Company: Linear Minerals Corp
Filing Date: 2025-08-01
Form: 20-F
Item: Item 5
Chunk 42
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 the deferred costs on certain properties for which the Company     
    is either negotiating amendment agreements, re-staking claims or has decided not to continue with further exploration work on the property.
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The Company’s projects are at the exploration stage and have not yet generated any revenue from production to date.

Readers should refer to the notes to the consolidated financial statements for details regarding all the mineral leases and option to joint venture agreements for each of the Company’s properties.

B.   Liquidity and Capital Resources
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Financial Conditions for the year ended March 31, 2025

The Company’s major source of funding has been the issuance of equity securities for cash, primarily through private placements to sophisticated investors and institutions. The Company has issued common shares during each of the last several years, pursuant to private placement financings and the exercise of warrants and options.

There is no assurance that the Company will be continue to be successful with any financing ventures. Please refer to Item 3 – Key Information – section D - Risk Factors in this document.

At March 31, 2025, Linear Mineral’s had working capital of $311,693 compared to working capital of $1,678,090 at March 31, 2024. As at March 31, 2025, the flow-through share premium liability is approximately $218,207 (March 31, 2024 - $159,579).

Linear Minerals began the year ended March 31, 2025, with $1,704,908 in cash. During the year ended March 31, 2025, the Company expended $1,787,101 on operating activities, net of working capital changes, and generated

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$1,034,000 from financing activities which was attributable to proceeds from share issuances, net of share issue costs, to end at March 31, 2025 with $951,807 in cash.

The Company’s financial statements were prepared using IFRS applicable to a going concern. Several adverse conditions cast substantial doubt on the validity of this assumption – see “Going Concern” disclosure below. The Company holds its cash in bank accounts that earn interest at variable interest rates.

Operations for the year ended March 31, 2025, have been funded primarly through non-brokered private placement financings with the issuance of equity.

Capital Resources

As discussed above, at March 31, 2025, the Company’s working capital was $311,693 compared to a working capital of $