Patriot Gold Corp. is a natural resource exploration company that acquires explores and develops mineral properties with the goal of identifying economically extractable reserves. The company concentrates its activities on mining claims located in Nevada where it has identified and secured interests in several properties. In addition to its Nevada holdings Patriot Gold Corp. retains a three percent net smelter returns royalty on the Moss Mine situated in Arizona which originated from the sale of its thirty percent interest in that property to Golden Vertex in 2016. The company expenses all mineral exploration and property acquisition costs as incurred and has not capitalized any such amounts through September 30 2025. Patriot Gold Corp. reports that exploration activities on its Windy Peak project have been temporarily paused which contributed to a reduction in mineral and exploration expenses during the nine months ended September 30 2025. The company’s financial position includes cash of $49,268 marketable securities of $22,082 prepaid expenses of $90,872 and total assets of $162,222 while total liabilities amounted to $1,597,609 consisting primarily of accounts payable accrued expenses and a note payable to a related party. Patriot Gold Corp. anticipates needing approximately $1,000,000 for operating expenses during the year ended December 31 2025 and indicates that additional funding may be required to sustain its operations.

Patriot Gold Corp. generates revenue principally from a 3% net smelter returns royalty on the Moss Mine which is paid by Golden Vertex when minerals are produced and sold at the property. Under its revenue recognition policy the royalty is treated as variable consideration and is recognized only when payment and settlement statements are received from Golden Vertex reflecting the period of sales. The company reported zero royalty revenue for the three months ended September 30 2025 and $0 for the nine months ended September 30 2025 compared with $361,523 for the nine months ended September 30 2024. No other material sources of revenue are disclosed in the filing. The royalty payments fluctuate with monthly production metal prices and refining and transportation costs associated with the Moss Mine operation.

Patriot Gold Corp. operates within the junior mineral exploration sector where it competes with numerous other small cap companies that acquire explore and develop mining claims. Its competitive position is strengthened by the retained royalty on the Moss Mine which provides a potential cash flow stream that is not directly dependent on the success of its exploration programs. The company’s Nevada based claim portfolio offers geographic diversification within a prolific mining district and complements the royalty asset. However Patriot Gold Corp. faces typical challenges of junior explorers including limited capital reliance on external funding and the inherent uncertainty of discovering economically viable mineral deposits. These factors shape its standing relative to peers that may have larger treasuries or more advanced project portfolios.

The company’s customer base for its royalty revenue consists of Golden Vertex the operator of the Moss Mine. No additional customers are disclosed in the filing.