Patriot Gold Corp. Reports Decreased Net Loss and Zero Revenue for Q3 2025

Patriot Gold Corp. reported a net loss of $251,197 for the three months ended September 30, 2025, a decrease from a net loss of $364,517 during the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $1,226,233, slightly improved from a loss of $1,234,000 in the prior year. The company did not generate any revenue during the third quarter of 2025, consistent with the previous year, and reported total revenues of $0 for the nine-month period, down from $361,523 in 2024. The decrease in losses was attributed to a reduction in mineral costs and consulting expenses, although this was offset by increased general and administrative expenses and the absence of royalty revenue.

Total assets for Patriot Gold Corp. decreased significantly to $162,222 as of September 30, 2025, compared to $531,035 at the end of 2024. The decline was primarily due to a reduction in cash reserves, which fell to $49,268 from $401,207. Current liabilities increased to $1,597,609, up from $738,305, driven by higher accounts payable and accrued liabilities, including amounts owed to related parties. The company's stockholders' equity also deteriorated, resulting in a negative equity position of $(1,435,387) as of September 30, 2025.

Operationally, the company has faced challenges with its royalty income from the Moss Mine, where payments have been suspended since early 2024 due to liquidity issues faced by the operator, Golden Vertex Corp. This situation has led to ongoing litigation to recover outstanding royalties. As a result, the company has not recognized any royalty revenue for the nine months ended September 30, 2025. The company continues to explore and develop its properties in Nevada, including the Windy Peak project, although exploration expenditures have been temporarily paused.

Looking ahead, Patriot Gold Corp. anticipates needing approximately $1,000,000 to fund its operations over the next twelve months, which includes working capital and administrative expenses. The company is evaluating various strategies to secure additional funding, including potential equity financing and restructuring operations to enhance revenue and reduce costs. Management has expressed confidence in its ability to obtain the necessary capital, although it acknowledges the uncertainty surrounding its ongoing litigation and the collectability of its royalty claims.