U.S. GoldMining Inc. Leases Disclosure
Note 6: Leases
In November 2023, US GoldMining Canada Inc. entered into an agreement to lease a portion of an office premises in Vancouver, British Columbia with a term of 4.88 years. As of December 31, 2025, the remaining lease term was 2.75 years and the incremental borrowing rate was 11.34%.
Minimum future lease payments under operating lease with terms longer than one year are as follows:
| Fiscal 2026 | 37,943 | |||
| Fiscal 2027 | 37,943 | |||
| Fiscal 2028 | 25,295 | |||
| Total lease payments | 101,181 | |||
| Less: imputed interest | (12,789 | ) | ||
| Present value of lease liabilities | $ | 88,392 | ||
| Current portion of lease liabilities | $ | 30,221 | ||
| Non-current portion of lease liabilities | $ | 58,171 |
During the years ended December 31, 2025, and 2024, total lease expenses include the following components:
| Year Ended December 31, | ||||||||
| 2025 | 2024 | |||||||
| Operating Leases | $ | 35,235 | $ | 35,975 | ||||
| Short-term Leases | 7,279 | 5,400 | ||||||
| Total Lease Expenses | $ | 42,514 | $ | 41,375 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 20, 2026 | Showing above |
| 2024 | Mar 27, 2025 | |
| 2023 | Feb 21, 2024 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.