2022 Q4 Form 20-F Financial Statement
#000137647423000344 Filed on June 26, 2023
Income Statement
| Concept | 2022 Q4 | 2022 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $129.7K | $614.5K |
| YoY Change | -1.26% | 30.33% |
| % of Gross Profit | ||
| Research & Development | $13.59K | $72.33K |
| YoY Change | 422.69% | 189.9% |
| % of Gross Profit | ||
| Depreciation & Amortization | $480.00 | $1.920K |
| YoY Change | -11.11% | -38.85% |
| % of Gross Profit | ||
| Operating Expenses | $48.28K | $287.1K |
| YoY Change | 60.72% | 1662.12% |
| Operating Profit | ||
| YoY Change | ||
| Interest Expense | $28.35K | -$42.74K |
| YoY Change | -71333.33% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | $0.00 | |
| YoY Change | -100.0% | |
| Pretax Income | -$19.93K | -$329.8K |
| YoY Change | 0.61% | 5396.5% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$19.93K | -$329.8K |
| YoY Change | 0.61% | 5396.5% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | -$0.01 | |
| Diluted Earnings Per Share | $0.00 | -$0.01 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 54.67M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2022 Q4 | 2022 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $307.5K | $307.5K |
| YoY Change | 120.99% | 120.99% |
| Cash & Equivalents | ||
| Short-Term Investments | ||
| Other Short-Term Assets | $9.380K | $9.380K |
| YoY Change | 3652.0% | 3652.0% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $366.4K | $366.4K |
| YoY Change | 127.34% | 127.34% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $170.5K | $170.5K |
| YoY Change | 0.3% | 0.3% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $259.3K | $259.3K |
| YoY Change | 33575.32% | 33575.32% |
| Other Assets | $325.1K | $325.1K |
| YoY Change | 662.31% | 662.31% |
| Total Long-Term Assets | $754.9K | $754.9K |
| YoY Change | 231.71% | 231.71% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $366.4K | $366.4K |
| Total Long-Term Assets | $754.9K | $754.9K |
| Total Assets | $1.121M | $1.121M |
| YoY Change | 188.44% | 188.44% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $100.9K | $100.9K |
| YoY Change | ||
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $208.9K | $208.9K |
| YoY Change | -74.0% | -74.0% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $208.9K | $208.9K |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | $208.9K | $208.9K |
| YoY Change | -74.0% | -74.0% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | ||
| YoY Change | ||
| Common Stock | ||
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $912.3K | $912.3K |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.121M | $1.121M |
| YoY Change | 188.44% | 188.44% |
Cashflow Statement
| Concept | 2022 Q4 | 2022 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$19.93K | -$329.8K |
| YoY Change | 0.61% | 5396.5% |
| Depreciation, Depletion And Amortization | $480.00 | $1.920K |
| YoY Change | -11.11% | -38.85% |
| Cash From Operating Activities | -$37.63K | -$522.0K |
| YoY Change | -2000.51% | 1137.43% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $380.00 | $5.070K |
| YoY Change | -119.39% | -167.24% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | -$494.2K |
| YoY Change | -100.0% | 3390.11% |
| Cash From Investing Activities | -$380.00 | -$499.3K |
| YoY Change | -97.64% | 2200.78% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $0.00 | $1.250M |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 0.000 | 1.190M |
| YoY Change | -54171.82% | |
| NET CHANGE | ||
| Cash From Operating Activities | -37.63K | -522.0K |
| Cash From Investing Activities | -380.0 | -499.3K |
| Cash From Financing Activities | 0.000 | 1.190M |
| Net Change In Cash | -38.01K | 168.4K |
| YoY Change | 168.81% | -354.78% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$37.63K | -$522.0K |
| Capital Expenditures | $380.00 | $5.070K |
| Free Cash Flow | -$38.01K | -$527.0K |
| YoY Change | -1064.72% | 1421.42% |
Facts In Submission
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Avrupa Minerals Ltd. | |
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Z4 | |
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Suite 410 – 325 Howe Street | |
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Vancouver | |
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BC | |
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CA | |
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Comprehensive Income
ComprehensiveIncome
|
-14108 | cad |
| CY2021Q4 | ifrs-full |
Equity
Equity
|
-414837 | cad |
| CY2022 | ifrs-full |
Issue Of Equity
IssueOfEquity
|
1250000 | cad |
| CY2022 | ifrs-full |
Share Issue Related Cost
ShareIssueRelatedCost
|
-60461 | cad |
| CY2022 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
285000 | cad |
| CY2022 | us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
95550 | cad |
| CY2022 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
98123 | cad |
| CY2022 | ifrs-full |
Comprehensive Income
ComprehensiveIncome
|
-341109 | cad |
| CY2022Q4 | ifrs-full |
Equity
Equity
|
912311 | cad |
| CY2022 | ifrs-full |
Profit Loss
ProfitLoss
|
-329789 | cad |
| CY2021 | ifrs-full |
Profit Loss
ProfitLoss
|
-5997 | cad |
| CY2020 | ifrs-full |
Profit Loss
ProfitLoss
|
-138911 | cad |
| CY2022 | ifrs-full |
Adjustments For Depreciation Expense
AdjustmentsForDepreciationExpense
|
1923 | cad |
| CY2021 | ifrs-full |
Adjustments For Depreciation Expense
AdjustmentsForDepreciationExpense
|
3143 | cad |
| CY2020 | ifrs-full |
Adjustments For Depreciation Expense
AdjustmentsForDepreciationExpense
|
13303 | cad |
| CY2022 | ifrs-full |
Expense Recognised During Period For Bad And Doubtful Debts For Related Party Transaction
ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction
|
0 | cad |
| CY2021 | ifrs-full |
Expense Recognised During Period For Bad And Doubtful Debts For Related Party Transaction
ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction
|
10679 | cad |
| CY2020 | ifrs-full |
Expense Recognised During Period For Bad And Doubtful Debts For Related Party Transaction
ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction
|
0 | cad |
| CY2022 | fil |
Loss On Investment In Akkerman Finland Oy
LossOnInvestmentInAkkermanFinlandOy
|
62973 | cad |
| CY2021 | fil |
Loss On Investment In Akkerman Finland Oy
LossOnInvestmentInAkkermanFinlandOy
|
0 | cad |
| CY2020 | fil |
Loss On Investment In Akkerman Finland Oy
LossOnInvestmentInAkkermanFinlandOy
|
0 | cad |
| CY2022 | ifrs-full |
Adjustments For Undistributed Profits Of Investments Accounted For Using Equity Method
AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod
|
-98123 | cad |
| CY2021 | ifrs-full |
Adjustments For Undistributed Profits Of Investments Accounted For Using Equity Method
AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod
|
0 | cad |
| CY2020 | ifrs-full |
Adjustments For Undistributed Profits Of Investments Accounted For Using Equity Method
AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod
|
0 | cad |
| CY2022 | fil |
Write Off Of Payables
WriteOffOfPayables
|
0 | cad |
| CY2021 | fil |
Write Off Of Payables
WriteOffOfPayables
|
10231 | cad |
| CY2020 | fil |
Write Off Of Payables
WriteOffOfPayables
|
0 | cad |
| CY2022 | ifrs-full |
Adjustments For Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss Inventories
AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossInventories
|
0 | cad |
| CY2021 | ifrs-full |
Adjustments For Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss Inventories
AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossInventories
|
0 | cad |
| CY2020 | ifrs-full |
Adjustments For Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss Inventories
AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossInventories
|
1 | cad |
| CY2022 | ifrs-full |
Adjustments For Decrease Increase In Other Current Assets
AdjustmentsForDecreaseIncreaseInOtherCurrentAssets
|
-1858 | cad |
| CY2021 | ifrs-full |
Adjustments For Decrease Increase In Other Current Assets
AdjustmentsForDecreaseIncreaseInOtherCurrentAssets
|
20153 | cad |
| CY2020 | ifrs-full |
Adjustments For Decrease Increase In Other Current Assets
AdjustmentsForDecreaseIncreaseInOtherCurrentAssets
|
-4880 | cad |
| CY2022 | ifrs-full |
Adjustments For Decrease Increase In Other Assets
AdjustmentsForDecreaseIncreaseInOtherAssets
|
0 | cad |
| CY2021 | ifrs-full |
Adjustments For Decrease Increase In Other Assets
AdjustmentsForDecreaseIncreaseInOtherAssets
|
48498 | cad |
| CY2020 | ifrs-full |
Adjustments For Decrease Increase In Other Assets
AdjustmentsForDecreaseIncreaseInOtherAssets
|
-27355 | cad |
| CY2022 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
-22323 | cad |
| CY2021 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
0 | cad |
| CY2020 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
0 | cad |
| CY2022 | ifrs-full |
Adjustments For Decrease Increase In Loans And Advances To Customers
AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers
|
-9131 | cad |
| CY2021 | ifrs-full |
Adjustments For Decrease Increase In Loans And Advances To Customers
AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers
|
54521 | cad |
| CY2020 | ifrs-full |
Adjustments For Decrease Increase In Loans And Advances To Customers
AdjustmentsForDecreaseIncreaseInLoansAndAdvancesToCustomers
|
-23432 | cad |
| CY2022 | ifrs-full |
Adjustments For Increase In Other Provisions Arising From Passage Of Time
AdjustmentsForIncreaseInOtherProvisionsArisingFromPassageOfTime
|
-3070 | cad |
| CY2021 | ifrs-full |
Adjustments For Increase In Other Provisions Arising From Passage Of Time
AdjustmentsForIncreaseInOtherProvisionsArisingFromPassageOfTime
|
10589 | cad |
| CY2020 | ifrs-full |
Adjustments For Increase In Other Provisions Arising From Passage Of Time
AdjustmentsForIncreaseInOtherProvisionsArisingFromPassageOfTime
|
602 | cad |
| CY2022 | ifrs-full |
Adjustments For Increase Decrease In Trade And Other Payables
AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables
|
-29089 | cad |
| CY2021 | ifrs-full |
Adjustments For Increase Decrease In Trade And Other Payables
AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables
|
-20511 | cad |
| CY2020 | ifrs-full |
Adjustments For Increase Decrease In Trade And Other Payables
AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables
|
-363267 | cad |
| CY2022 | ifrs-full |
Adjustments For Increase Decrease In Other Liabilities
AdjustmentsForIncreaseDecreaseInOtherLiabilities
|
0 | cad |
| CY2021 | ifrs-full |
Adjustments For Increase Decrease In Other Liabilities
AdjustmentsForIncreaseDecreaseInOtherLiabilities
|
-61249 | cad |
| CY2020 | ifrs-full |
Adjustments For Increase Decrease In Other Liabilities
AdjustmentsForIncreaseDecreaseInOtherLiabilities
|
29627 | cad |
| CY2022 | ifrs-full |
Adjustments For Increase Decrease In Other Current Liabilities
AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities
|
-278013 | cad |
| CY2021 | ifrs-full |
Adjustments For Increase Decrease In Other Current Liabilities
AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities
|
-83277 | cad |
| CY2020 | ifrs-full |
Adjustments For Increase Decrease In Other Current Liabilities
AdjustmentsForIncreaseDecreaseInOtherCurrentLiabilities
|
188949 | cad |
| CY2022 | ifrs-full |
Adjustments For Gains Losses On Fair Value Adjustment Investment Property
AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty
|
11696 | cad |
| CY2021 | ifrs-full |
Adjustments For Gains Losses On Fair Value Adjustment Investment Property
AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty
|
8498 | cad |
| CY2020 | ifrs-full |
Adjustments For Gains Losses On Fair Value Adjustment Investment Property
AdjustmentsForGainsLossesOnFairValueAdjustmentInvestmentProperty
|
18839 | cad |
| CY2022 | ifrs-full |
Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
|
-521950 | cad |
| CY2021 | ifrs-full |
Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
|
-42180 | cad |
| CY2020 | ifrs-full |
Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
|
-344202 | cad |
| CY2022 | fil |
Investment In Pormining1
InvestmentInPormining1
|
0 | cad |
| CY2021 | fil |
Investment In Pormining1
InvestmentInPormining1
|
0 | cad |
| CY2020 | fil |
Investment In Pormining1
InvestmentInPormining1
|
-765 | cad |
| CY2022 | fil |
Investment In Akkerman Finland Oy1
InvestmentInAkkermanFinlandOy1
|
-211800 | cad |
| CY2021 | fil |
Investment In Akkerman Finland Oy1
InvestmentInAkkermanFinlandOy1
|
0 | cad |
| CY2020 | fil |
Investment In Akkerman Finland Oy1
InvestmentInAkkermanFinlandOy1
|
0 | cad |
| CY2022 | fil |
Deposit Akkerman Finland Oy1
DepositAkkermanFinlandOy1
|
0 | cad |
| CY2021 | fil |
Deposit Akkerman Finland Oy1
DepositAkkermanFinlandOy1
|
14155 | cad |
| CY2020 | fil |
Deposit Akkerman Finland Oy1
DepositAkkermanFinlandOy1
|
0 | cad |
| CY2022 | fil |
Advance To Akkerman Finland Oy1
AdvanceToAkkermanFinlandOy1
|
-282400 | cad |
| CY2021 | fil |
Advance To Akkerman Finland Oy1
AdvanceToAkkermanFinlandOy1
|
0 | cad |
| CY2020 | fil |
Advance To Akkerman Finland Oy1
AdvanceToAkkermanFinlandOy1
|
0 | cad |
| CY2022 | ifrs-full |
Purchase Of Investment Property
PurchaseOfInvestmentProperty
|
0 | cad |
| CY2021 | ifrs-full |
Purchase Of Investment Property
PurchaseOfInvestmentProperty
|
0 | cad |
| CY2020 | ifrs-full |
Purchase Of Investment Property
PurchaseOfInvestmentProperty
|
-15939 | cad |
| CY2022 | ifrs-full |
Purchase Of Property Plant And Equipment Intangible Assets Other Than Goodwill Investment Property And Other Noncurrent Assets
PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets
|
5067 | cad |
| CY2021 | ifrs-full |
Purchase Of Property Plant And Equipment Intangible Assets Other Than Goodwill Investment Property And Other Noncurrent Assets
PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets
|
7542 | cad |
| CY2020 | ifrs-full |
Purchase Of Property Plant And Equipment Intangible Assets Other Than Goodwill Investment Property And Other Noncurrent Assets
PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets
|
7452 | cad |
| CY2022 | ifrs-full |
Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
|
-499267 | cad |
| CY2021 | ifrs-full |
Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
|
-21697 | cad |
| CY2020 | ifrs-full |
Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
|
7722 | cad |
| CY2022 | ifrs-full |
Proceeds From Issue Of Ordinary Shares
ProceedsFromIssueOfOrdinaryShares
|
1250000 | cad |
| CY2021 | ifrs-full |
Proceeds From Issue Of Ordinary Shares
ProceedsFromIssueOfOrdinaryShares
|
0 | cad |
| CY2020 | ifrs-full |
Proceeds From Issue Of Ordinary Shares
ProceedsFromIssueOfOrdinaryShares
|
506357 | cad |
| CY2022 | ifrs-full |
Payments For Share Issue Costs
PaymentsForShareIssueCosts
|
60416 | cad |
| CY2021 | ifrs-full |
Payments For Share Issue Costs
PaymentsForShareIssueCosts
|
2197 | cad |
| CY2020 | ifrs-full |
Payments For Share Issue Costs
PaymentsForShareIssueCosts
|
22982 | cad |
| CY2022 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
1189584 | cad |
| CY2021 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
-2197 | cad |
| CY2020 | ifrs-full |
Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
|
483375 | cad |
| CY2022 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
|
168367 | cad |
| CY2021 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
|
-66074 | cad |
| CY2020 | ifrs-full |
Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
|
146895 | cad |
| CY2021Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
139164 | cad |
| CY2020Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
205238 | cad |
| CY2019Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
58343 | cad |
| CY2022Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
307531 | cad |
| CY2021Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
139164 | cad |
| CY2020Q4 | ifrs-full |
Cash And Cash Equivalents
CashAndCashEquivalents
|
205238 | cad |
| CY2022 | ifrs-full |
Disclosure Of Notes And Other Explanatory Information Explanatory
DisclosureOfNotesAndOtherExplanatoryInformationExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>1.</b></kbd><b>NATURE OF OPERATIONS AND CONTINUANCE OF OPERATIONS</b> </p> <p style="font:10pt Arial;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Avrupa Minerals Ltd. (the “Company”) was incorporated on January 23, 2008 under the Business Corporations Act of British Columbia and its registered office is 10<span style="vertical-align:super">th</span> floor, 595 Howe Street, Vancouver, BC, Canada, V6C 2T5. The Company changed its name on July 7, 2010 and began trading under the symbol “AVU” on the TSX Venture Exchange (the “Exchange”) on July 14, 2010. On September 20, 2012, the Company listed in Europe on the Frankfurt Stock Exchange under the trading symbol “8AM”. The Company is primarily engaged in the acquisition and exploration of mineral properties in Europe.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">These consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its commitments, continue operations and realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. There are material uncertainties that cast significant doubt about the appropriateness of the going concern assumption.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">If the Company is to advance or develop its mineral properties further, it will be necessary to obtain additional financing and while it has been successful in the past, there can be no assurance that it will be able to do so in the future. Failure to raise sufficient funds would result in the Company’s inability to make future required property payments, which would result in the loss of those property options.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">These financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and statement of financial position classifications that would be necessary were the going concern assumption inappropriate, and these adjustments could be material.</p> | |
| CY2022 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2008-01-23 | |
| CY2022 | dei |
Entity Information Date To Change Former Legal Or Registered Name
EntityInformationDateToChangeFormerLegalOrRegisteredName
|
2010-07-07 | |
| CY2022 | dei |
Entity Listing Description
EntityListingDescription
|
TSX | |
| CY2022 | ifrs-full |
Disclosure Of Going Concern Explanatory
DisclosureOfGoingConcernExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">These consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its commitments, continue operations and realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. There are material uncertainties that cast significant doubt about the appropriateness of the going concern assumption.</p> | |
| CY2021 | ifrs-full |
Increase Decrease Through Other Changes Property Plant And Equipment
IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment
|
0 | cad |
| CY2021 | ifrs-full |
Acquisitions Through Business Combinations Property Plant And Equipment
AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment
|
-14776 | cad |
| CY2022 | ifrs-full |
Disclosure Of Reclassifications Or Changes In Presentation Explanatory
DisclosureOfReclassificationsOrChangesInPresentationExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>2.</b></kbd><b>BASIS OF PREPARATION</b> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">a)</kbd>Statement of compliance </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements have been prepared in accordance and compliance with International Financial Reporting standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”).</p> <p style="font:10pt Arial;margin:0;margin-left:54pt;color:#000000;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">b)</kbd>Basis of preparation </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements have been prepared on a historical cost basis except certain financial instruments which are measured at fair value (‘FVPL”). In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are effective as at December 31, 2022.</p> | |
| CY2022 | ifrs-full |
Statement Of Ifrs Compliance
StatementOfIFRSCompliance
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">a)</kbd>Statement of compliance </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements have been prepared in accordance and compliance with International Financial Reporting standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”).</p> | |
| CY2022 | ifrs-full |
Disclosure Of Basis Of Preparation Of Financial Statements Explanatory
DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">b)</kbd>Basis of preparation </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements have been prepared on a historical cost basis except certain financial instruments which are measured at fair value (‘FVPL”). In addition, these consolidated financial statements have been prepared using the accrual basis of accounting, except for cash flow information.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements, including comparatives, have been prepared on the basis of IFRS standards that are effective as at December 31, 2022.</p> | |
| CY2022 | ifrs-full |
Disclosure Of Summary Of Significant Accounting Policies Explanatory
DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>3.</b></kbd><b>SIGNIFICANT ACCOUNTING POLICIES</b> </p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">a)</kbd>Basis of consolidation </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements include the accounts of the Company and its subsidiaries as follows:</p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <table style="border-collapse:collapse;width:432pt;margin-left:41.4pt"><tr><td style="width:184.5pt" valign="bottom"></td><td style="width:76.5pt;border-bottom:0.25pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">% of ownership</p> </td><td style="width:90pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Jurisdiction</p> </td><td style="width:81pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Nature of operations</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:76.5pt;border-top:0.25pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:90pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:81pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt">MAEPA Empreendimentos Mineiros e Participacoes Lda </p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Portugal</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Innomatik Exploration Kosovo LLC </p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Kosovo</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">AVU Kosova LLC</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Kosovo</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Avrupa Holdings Inc. <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Barbados</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Holding</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Avrupa Portugal Holdings Inc. <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Barbados</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Holding</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Avrupa Kosovo Holdings Inc. <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Barbados</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Holding</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Akkerman Finland OY <span style="vertical-align:super">(2)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">49%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Finland</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"><span style="vertical-align:super">(1)</span> The companies are in the process of being wound up.</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"><span style="vertical-align:super">(2)</span> This company is accounted for using the equity method.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">All subsidiaries are entities that are controlled, either directly or indirectly. Control is defined as the exposure, or rights, to variable returns from involvement with an investee and the ability to affect those returns through power over the investee. Power over an investee exists when the Company has existing rights that give it the ability to direct the activities that significantly affect the investee’s returns. This control is generally evidenced through owning more than 50% of the voting rights or currently exercisable potential voting rights of a company’s share capital. All of the intra-group balances and transactions, including unrealized profits and losses arising from intra-group transactions, have been eliminated in full. For subsidiaries that the Company controls, but does not own 100% of, the net assets and net profit attributable to outside shareholders are presented as amounts attributable to non-controlling interests in the consolidated statements of financial position and consolidated statements of comprehensive loss.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Inter-company balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated in preparing the consolidated financial statements. </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">b)</kbd>Interests in Joint Arrangements </p> <p style="font:10pt Arial;margin:0;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">A joint arrangement can take the form of a joint venture or joint operation. All joint arrangements involve a contractual arrangement that establishes joint control, which exists only when decisions about the activities that significantly affect the returns of the investee require unanimous consent of the parties sharing control. A joint operation is a joint arrangement in which the Company has rights to the assets and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement in which the Company has rights to only the net assets of the arrangement.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Joint ventures are accounted for in accordance with the policy “Investments in Associates and Joint Ventures.” Joint operations are accounted for by recognizing the Company’s share of the assets, liabilities, revenue, expenses and cash flows of the joint operation in the consolidated financial statements.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">c)</kbd>Investments in Associates and Joint Ventures </p> <p style="font:10pt Arial;margin:0;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Investments over which the Company exercises significant influence and which it does not control or jointly control are associates. Investments in associates are accounted for using the equity method, except when classified as held for sale. Investments in joint ventures as determined in accordance with the policy “Interests in Joint Arrangements” are also accounted for using the equity method.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The equity method involves recording the initial investment at cost and subsequently adjusting the carrying value of the investment for the Company’s proportionate share of the profit or loss, other comprehensive income or loss and any other changes in the associate’s or joint venture’s net assets.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company’s proportionate share of the associate’s or joint venture’s profit or loss and other comprehensive income or loss is based on its most recent financial statements. Adjustments are made to align any inconsistencies between the Company’s accounting policies and the associate’s or joint venture’s policies before applying the equity method. Adjustments are also made to account for depreciable assets based on their fair values at the acquisition date of the investment and for any impairment losses recognized by the associate or joint venture.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">If the Company’s share of the associate’s or joint venture’s losses equals or exceeds the investment in the associate or joint venture, recognition of further losses is discontinued. After the Company’s interest is reduced to zero, additional losses will be provided for and a liability recognized only to the extent that the Company has incurred legal or constructive obligations to provide additional funding or make payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">At each statement of financial position date, management considers whether there is objective evidence of impairment in associates and joint ventures. If there is such evidence, management determines if there is a need to record an impairment in relation to the associate or joint venture.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">d)</kbd>Foreign currencies </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company assesses functional currency on an entity by entity basis based on the related fact pattern; however, the presentation currency used in these consolidated financial statements is determined at management’s discretion.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The currency of the parent company, and the presentation currency applicable to these consolidated financial statements, is the Canadian dollar.</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Transactions in currencies other than the functional currency are recorded at the rates of the exchange prevailing on dates of transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company has determined that the functional currency of its wholly-owned subsidiaries in Europe is the Euro and that the functional currency of its wholly-owned subsidiaries in Barbados is the US dollar. Exchange differences arising from the translation of the subsidiaries’ functional currencies into the Company’s presentation currency are taken directly to the exchange reserve.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">e)</kbd>Exploration and evaluation assets and expenditures </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Exploration and evaluation expenditures include the costs of acquiring licenses, costs associated with exploration and evaluation activity, and the fair value (at acquisition date) of exploration and evaluation assets acquired in a business combination. Exploration and evaluation expenditures are expensed as incurred except for expenditures associated with the acquisition of exploration and evaluation assets through a business combination or asset acquisition which are recognized as assets. Costs incurred before the Company has obtained the legal rights to explore an area are recognized in the consolidated statement of comprehensive loss.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Capitalized costs, including general and administrative costs, are only allocated to the extent that these costs can be related directly to operational activities in the relevant area of interest where they are considered likely to be recoverable by future exploitation or sale or where the activities have not reached a stage which permits a reasonable assessment of the existence of reserves.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Exploration and evaluation assets are assessed for impairment if (i) sufficient data exists to determine technical feasibility and commercial viability, and (ii) facts and circumstances suggest that the carrying amount exceeds the recoverable amount.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, exploration and evaluation assets attributable to that area are first tested for impairment and then reclassified to mining property and development assets within property, plant and equipment.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Recoverability of the carrying amount of the exploration and evaluation assets is dependent on successful development and commercial exploitation, or alternatively, sale of the respective areas of interest.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">f)</kbd>Share-based payment transactions </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The share option plan allows the Company’s employees and consultants to acquire shares of the Company. The fair value of options granted is recognized as a share-based payment expense with a corresponding increase in equity. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The fair value is measured at grant date and each tranche is recognized on a graded-vesting basis over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. At each statement of financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest.</p> <p style="font:10pt Arial;margin:0;text-indent:-108pt;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">g)</kbd>Earnings (Loss) per share </p> <p style="font:10pt Times New Roman;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company presents the basic and diluted earnings (loss) per share data for its common shares, calculated by dividing the income (loss) attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is determined by adjusting the income (loss) attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares. In the Company’s case, diluted earnings (loss) per share is the same as basic earnings (loss) per share as the effects of including all outstanding options and warrants would be anti-dilutive.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">h)</kbd>Significant accounting judgments and estimates </p> <p style="font:10pt Times New Roman;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. These consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout these consolidated financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and further periods if the revision affects both current and future periods.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not limited to, the following:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-36pt;margin-left:72pt;text-align:justify"><span style="border-bottom:1px solid #000000">Critical judgments</span></p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The analysis of the functional currency for each entity of the Company. In concluding that the Canadian dollar is the functional currency of the parent, management considered both the funds from financing activities and the currency in which goods and services are paid. The functional currency of its wholly-owned subsidiaries in Europe is the Euro and subsidiaries in Barbados is the US Dollar as management considered the currencies which mainly influence the cost of providing goods and services in those subsidiaries. The Company chooses to report in Canadian dollar as the presentation currency; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The assessment of indications of impairment of each mineral property and related determination of the net realized value and write-down of those properties where applicable; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The determination that the Company will continue as a going concern for the next year; and </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The accounting for investments in other companies can vary depending on the degree of control and influence over those other companies. Management is required to assess at each reporting date the Company’s control and influence over these other companies. Management has used its judgment to determine which companies are controlled and require consolidation and those which are significantly influenced and require equity accounting. </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>The Company’s interest in PorMining is less than 50%, therefore it does not have the current ability to control the key operating activities of the company. Pursuant to the Shareholders’ Agreement entered into by the companies, MAEPA, a wholly-owned subsidiary of the Company, was appointed operator during the Phase I period and the board of directors of PorMining is comprised of three directors appointed by EUL and two by MAEPA. The operator prepares and submits annual budgets and programs to the board for approval. Management has determined that the Company does not have significant influence over PorMining. Accordingly, the investment in PorMining is accounted for at cost and not as an investment in associate (Note 5). </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>The Company’s interest in AFOy is less than 50%, therefore it does not have the current ability to control the key operating activities of the company. However, pursuant to the Share Purchase Agreement entered into by the companies, the board of directors of AFOy is comprised of one director appointed by the Company and one director by AEBv. Despite the operator being AEBv, the Company provides the necessary funding as part of the earn-in and therefore can influence AFOy’s annual budgets and exploration programs. Management has determined that the Company has significant influence over AFOy and accordingly, the investment in AFOy is accounted for as an investment in associate (Note 7). </p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><span style="border-bottom:1px solid #000000">Significant estimates</span></p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The estimate that 50% of the tax deposits will be recovered within one to five years.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">i)</kbd>Provisions </p> <p style="font:10pt Arial;margin:0;margin-left:90pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Provisions are recognized in the consolidated statement of financial position when the Company has a legal or constructive obligation as a result of past events and it is probable that an outflow of economic benefit will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">j)</kbd>Financial instruments </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The following financial assets are classified as measured at amortized cost - cash, due from optionee, advance to related party, certain other receivables and property deposits.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The following financial liabilities are classified as measured at amortized cost – accounts payable and accrued liabilities and due to related parties.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The classification of financial assets is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. Transaction costs with respect to financial instruments classified as fair value through profit or loss are recognized as an adjustment to the cost of the underlying instruments.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company’s financial assets are classified into one of the following two measurement categories:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Financial assets held within a business model for the purpose of collecting contractual cash flows (“held to collect”) that represent solely payments of principal and interest (“SPPI”) are measured at amortized cost. Financial assets held within a business model where assets are both held for the purpose of collecting contractual cash flows or sold prior to maturity and the contractual cash flows represent solely payments of principal and interest are measured at FVPL.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">k)</kbd>Income taxes </p> <p style="font:10pt Times New Roman;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Income tax on the profit or loss for the periods presented comprises current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period end, adjusted for amendments to tax payable with regards to previous years.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Deferred tax is recorded using the statement of financial position liability method, providing for temporary differences, between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes; the initial recognition of assets or liabilities that affect neither accounting or taxable loss; nor differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted that are expected to apply when temporary differences are expected to settle.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. To the extent that the Company does not consider it probable that a future tax asset will be recovered, it provides a valuation allowance against that excess.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Additional income taxes that arise from the distribution of dividends are recognized at the same time as the liability to pay the related dividend.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">l)</kbd>New accounting standards and interpretations </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Certain new accounting standards and interpretations have been published that are not mandatory for the December 31, 2022 reporting period. The Company has not early adopted the following new and revised standards, amendments and interpretations that have been issued but are not yet effective:</p> <p style="font:10pt Times New Roman;margin:0;margin-left:36pt"> </p> <p style="font:10pt Arial;margin:0;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:18pt"></kbd>Presentation of financial statements </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company anticipates that the application of the above new and revised standards, amendments and interpretations will have no material impact on its results and financial position.</p> | |
| CY2022 | ifrs-full |
Disclosure Of Basis Of Consolidation Explanatory
DisclosureOfBasisOfConsolidationExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">a)</kbd>Basis of consolidation </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">These consolidated financial statements include the accounts of the Company and its subsidiaries as follows:</p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <table style="border-collapse:collapse;width:432pt;margin-left:41.4pt"><tr><td style="width:184.5pt" valign="bottom"></td><td style="width:76.5pt;border-bottom:0.25pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">% of ownership</p> </td><td style="width:90pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Jurisdiction</p> </td><td style="width:81pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Nature of operations</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:76.5pt;border-top:0.25pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:90pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:81pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt">MAEPA Empreendimentos Mineiros e Participacoes Lda </p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Portugal</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Innomatik Exploration Kosovo LLC </p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Kosovo</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">AVU Kosova LLC</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Kosovo</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Avrupa Holdings Inc. <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Barbados</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Holding</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Avrupa Portugal Holdings Inc. <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Barbados</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Holding</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Avrupa Kosovo Holdings Inc. <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">100%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Barbados</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Holding</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-9pt;margin-left:9pt;text-align:justify">Akkerman Finland OY <span style="vertical-align:super">(2)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">49%</p> </td><td style="width:90pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Finland</p> </td><td style="width:81pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">Exploration</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"><span style="vertical-align:super">(1)</span> The companies are in the process of being wound up.</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"><span style="vertical-align:super">(2)</span> This company is accounted for using the equity method.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">All subsidiaries are entities that are controlled, either directly or indirectly. Control is defined as the exposure, or rights, to variable returns from involvement with an investee and the ability to affect those returns through power over the investee. Power over an investee exists when the Company has existing rights that give it the ability to direct the activities that significantly affect the investee’s returns. This control is generally evidenced through owning more than 50% of the voting rights or currently exercisable potential voting rights of a company’s share capital. All of the intra-group balances and transactions, including unrealized profits and losses arising from intra-group transactions, have been eliminated in full. For subsidiaries that the Company controls, but does not own 100% of, the net assets and net profit attributable to outside shareholders are presented as amounts attributable to non-controlling interests in the consolidated statements of financial position and consolidated statements of comprehensive loss.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Inter-company balances and transactions, including unrealized income and expenses arising from inter-company transactions, are eliminated in preparing the consolidated financial statements. </p> | |
| CY2022 | ifrs-full |
Disclosure Of Joint Ventures Explanatory
DisclosureOfJointVenturesExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">b)</kbd>Interests in Joint Arrangements </p> <p style="font:10pt Arial;margin:0;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">A joint arrangement can take the form of a joint venture or joint operation. All joint arrangements involve a contractual arrangement that establishes joint control, which exists only when decisions about the activities that significantly affect the returns of the investee require unanimous consent of the parties sharing control. A joint operation is a joint arrangement in which the Company has rights to the assets and obligations for the liabilities relating to the arrangement. A joint venture is a joint arrangement in which the Company has rights to only the net assets of the arrangement.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Joint ventures are accounted for in accordance with the policy “Investments in Associates and Joint Ventures.” Joint operations are accounted for by recognizing the Company’s share of the assets, liabilities, revenue, expenses and cash flows of the joint operation in the consolidated financial statements.</p> | |
| CY2021Q4 | fil |
Equipment Cost
EquipmentCost
|
174986 | cad |
| CY2022 | ifrs-full |
Increase Decrease Through Other Changes Property Plant And Equipment
IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment
|
2531 | cad |
| CY2022 | ifrs-full |
Acquisitions Through Business Combinations Property Plant And Equipment
AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment
|
815 | cad |
| CY2022Q4 | fil |
Equipment Cost
EquipmentCost
|
178332 | cad |
| CY2022 | ifrs-full |
Disclosure Of Interests In Joint Arrangements Explanatory
DisclosureOfInterestsInJointArrangementsExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">c)</kbd>Investments in Associates and Joint Ventures </p> <p style="font:10pt Arial;margin:0;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Investments over which the Company exercises significant influence and which it does not control or jointly control are associates. Investments in associates are accounted for using the equity method, except when classified as held for sale. Investments in joint ventures as determined in accordance with the policy “Interests in Joint Arrangements” are also accounted for using the equity method.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The equity method involves recording the initial investment at cost and subsequently adjusting the carrying value of the investment for the Company’s proportionate share of the profit or loss, other comprehensive income or loss and any other changes in the associate’s or joint venture’s net assets.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company’s proportionate share of the associate’s or joint venture’s profit or loss and other comprehensive income or loss is based on its most recent financial statements. Adjustments are made to align any inconsistencies between the Company’s accounting policies and the associate’s or joint venture’s policies before applying the equity method. Adjustments are also made to account for depreciable assets based on their fair values at the acquisition date of the investment and for any impairment losses recognized by the associate or joint venture.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">If the Company’s share of the associate’s or joint venture’s losses equals or exceeds the investment in the associate or joint venture, recognition of further losses is discontinued. After the Company’s interest is reduced to zero, additional losses will be provided for and a liability recognized only to the extent that the Company has incurred legal or constructive obligations to provide additional funding or make payments on behalf of the associate or joint venture. If the associate or joint venture subsequently reports profits, the Company resumes recognizing its share of those profits only after its share of the profits equals the share of losses not recognized.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">At each statement of financial position date, management considers whether there is objective evidence of impairment in associates and joint ventures. If there is such evidence, management determines if there is a need to record an impairment in relation to the associate or joint venture.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Foreign Currency Translation Explanatory
DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">d)</kbd>Foreign currencies </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company assesses functional currency on an entity by entity basis based on the related fact pattern; however, the presentation currency used in these consolidated financial statements is determined at management’s discretion.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The currency of the parent company, and the presentation currency applicable to these consolidated financial statements, is the Canadian dollar.</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Transactions in currencies other than the functional currency are recorded at the rates of the exchange prevailing on dates of transactions. At each financial position reporting date, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at each reporting date. Non-monetary items denominated in foreign currencies that are measured at fair value are retranslated to the functional currency at the exchange rate at the date the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company has determined that the functional currency of its wholly-owned subsidiaries in Europe is the Euro and that the functional currency of its wholly-owned subsidiaries in Barbados is the US dollar. Exchange differences arising from the translation of the subsidiaries’ functional currencies into the Company’s presentation currency are taken directly to the exchange reserve.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Exploration And Evaluation Expenditures
DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">e)</kbd>Exploration and evaluation assets and expenditures </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Exploration and evaluation expenditures include the costs of acquiring licenses, costs associated with exploration and evaluation activity, and the fair value (at acquisition date) of exploration and evaluation assets acquired in a business combination. Exploration and evaluation expenditures are expensed as incurred except for expenditures associated with the acquisition of exploration and evaluation assets through a business combination or asset acquisition which are recognized as assets. Costs incurred before the Company has obtained the legal rights to explore an area are recognized in the consolidated statement of comprehensive loss.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Capitalized costs, including general and administrative costs, are only allocated to the extent that these costs can be related directly to operational activities in the relevant area of interest where they are considered likely to be recoverable by future exploitation or sale or where the activities have not reached a stage which permits a reasonable assessment of the existence of reserves.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Exploration and evaluation assets are assessed for impairment if (i) sufficient data exists to determine technical feasibility and commercial viability, and (ii) facts and circumstances suggest that the carrying amount exceeds the recoverable amount.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Once the technical feasibility and commercial viability of the extraction of mineral resources in an area of interest are demonstrable, exploration and evaluation assets attributable to that area are first tested for impairment and then reclassified to mining property and development assets within property, plant and equipment.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Recoverability of the carrying amount of the exploration and evaluation assets is dependent on successful development and commercial exploitation, or alternatively, sale of the respective areas of interest.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Sharebased Payment Transactions Explanatory
DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">f)</kbd>Share-based payment transactions </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The share option plan allows the Company’s employees and consultants to acquire shares of the Company. The fair value of options granted is recognized as a share-based payment expense with a corresponding increase in equity. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The fair value is measured at grant date and each tranche is recognized on a graded-vesting basis over the period during which the options vest. The fair value of the options granted is measured using the Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. At each statement of financial position reporting date, the amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Earnings Per Share Explanatory
DescriptionOfAccountingPolicyForEarningsPerShareExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">g)</kbd>Earnings (Loss) per share </p> <p style="font:10pt Times New Roman;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company presents the basic and diluted earnings (loss) per share data for its common shares, calculated by dividing the income (loss) attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is determined by adjusting the income (loss) attributable to common shareholders and the weighted average number of common shares outstanding for the effects of all dilutive potential common shares. In the Company’s case, diluted earnings (loss) per share is the same as basic earnings (loss) per share as the effects of including all outstanding options and warrants would be anti-dilutive.</p> | |
| CY2022 | ifrs-full |
Disclosure Of Accounting Judgements And Estimates Explanatory
DisclosureOfAccountingJudgementsAndEstimatesExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">h)</kbd>Significant accounting judgments and estimates </p> <p style="font:10pt Times New Roman;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of expenses during the reporting period. Actual outcomes could differ from these estimates. These consolidated financial statements include estimates which, by their nature, are uncertain. The impacts of such estimates are pervasive throughout these consolidated financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and further periods if the revision affects both current and future periods.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Significant assumptions about the future and other sources of estimation uncertainty that management has made at the consolidated statement of financial position date, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, relate to, but are not limited to, the following:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-36pt;margin-left:72pt;text-align:justify"><span style="border-bottom:1px solid #000000">Critical judgments</span></p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The analysis of the functional currency for each entity of the Company. In concluding that the Canadian dollar is the functional currency of the parent, management considered both the funds from financing activities and the currency in which goods and services are paid. The functional currency of its wholly-owned subsidiaries in Europe is the Euro and subsidiaries in Barbados is the US Dollar as management considered the currencies which mainly influence the cost of providing goods and services in those subsidiaries. The Company chooses to report in Canadian dollar as the presentation currency; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The assessment of indications of impairment of each mineral property and related determination of the net realized value and write-down of those properties where applicable; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The determination that the Company will continue as a going concern for the next year; and </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The accounting for investments in other companies can vary depending on the degree of control and influence over those other companies. Management is required to assess at each reporting date the Company’s control and influence over these other companies. Management has used its judgment to determine which companies are controlled and require consolidation and those which are significantly influenced and require equity accounting. </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>The Company’s interest in PorMining is less than 50%, therefore it does not have the current ability to control the key operating activities of the company. Pursuant to the Shareholders’ Agreement entered into by the companies, MAEPA, a wholly-owned subsidiary of the Company, was appointed operator during the Phase I period and the board of directors of PorMining is comprised of three directors appointed by EUL and two by MAEPA. The operator prepares and submits annual budgets and programs to the board for approval. Management has determined that the Company does not have significant influence over PorMining. Accordingly, the investment in PorMining is accounted for at cost and not as an investment in associate (Note 5). </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>The Company’s interest in AFOy is less than 50%, therefore it does not have the current ability to control the key operating activities of the company. However, pursuant to the Share Purchase Agreement entered into by the companies, the board of directors of AFOy is comprised of one director appointed by the Company and one director by AEBv. Despite the operator being AEBv, the Company provides the necessary funding as part of the earn-in and therefore can influence AFOy’s annual budgets and exploration programs. Management has determined that the Company has significant influence over AFOy and accordingly, the investment in AFOy is accounted for as an investment in associate (Note 7). </p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><span style="border-bottom:1px solid #000000">Significant estimates</span></p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The estimate that 50% of the tax deposits will be recovered within one to five years.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Provisions Explanatory
DescriptionOfAccountingPolicyForProvisionsExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">i)</kbd>Provisions </p> <p style="font:10pt Arial;margin:0;margin-left:90pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Provisions are recognized in the consolidated statement of financial position when the Company has a legal or constructive obligation as a result of past events and it is probable that an outflow of economic benefit will be required to settle the obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.</p> | |
| CY2020Q4 | fil |
Equipment Accumulated Depreciation
EquipmentAccumulatedDepreciation
|
184.209 | cad |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Financial Instruments Explanatory
DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">j)</kbd>Financial instruments </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The following financial assets are classified as measured at amortized cost - cash, due from optionee, advance to related party, certain other receivables and property deposits.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The following financial liabilities are classified as measured at amortized cost – accounts payable and accrued liabilities and due to related parties.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The classification of financial assets is based on how an entity manages its financial instruments and the contractual cash flow characteristics of the financial asset. Transaction costs with respect to financial instruments classified as fair value through profit or loss are recognized as an adjustment to the cost of the underlying instruments.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company’s financial assets are classified into one of the following two measurement categories:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Financial assets held within a business model for the purpose of collecting contractual cash flows (“held to collect”) that represent solely payments of principal and interest (“SPPI”) are measured at amortized cost. Financial assets held within a business model where assets are both held for the purpose of collecting contractual cash flows or sold prior to maturity and the contractual cash flows represent solely payments of principal and interest are measured at FVPL.</p> | |
| CY2022 | ifrs-full |
Description Of Accounting Policy For Income Tax Explanatory
DescriptionOfAccountingPolicyForIncomeTaxExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">k)</kbd>Income taxes </p> <p style="font:10pt Times New Roman;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Income tax on the profit or loss for the periods presented comprises current and deferred tax. Income tax is recognized in profit or loss except to the extent that it relates to items recognized directly in equity, in which case it is recognized in equity.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period end, adjusted for amendments to tax payable with regards to previous years.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Deferred tax is recorded using the statement of financial position liability method, providing for temporary differences, between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill not deductible for tax purposes; the initial recognition of assets or liabilities that affect neither accounting or taxable loss; nor differences relating to investments in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the expected manner of realization or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted that are expected to apply when temporary differences are expected to settle.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">A deferred tax asset is recognized only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. To the extent that the Company does not consider it probable that a future tax asset will be recovered, it provides a valuation allowance against that excess.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Additional income taxes that arise from the distribution of dividends are recognized at the same time as the liability to pay the related dividend.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.</p> | |
| CY2022 | ifrs-full |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations
DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations
|
<p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">l)</kbd>New accounting standards and interpretations </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Certain new accounting standards and interpretations have been published that are not mandatory for the December 31, 2022 reporting period. The Company has not early adopted the following new and revised standards, amendments and interpretations that have been issued but are not yet effective:</p> <p style="font:10pt Times New Roman;margin:0;margin-left:36pt"> </p> <p style="font:10pt Arial;margin:0;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:0pt">·</kbd><kbd style="margin-left:18pt"></kbd>Presentation of financial statements </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">An amendment to IAS 1 was issued in January 2020 and applies to annual reporting periods beginning on or after January 1, 2023. The amendment clarifies the criterion for classifying a liability as non-current relating to the right to defer settlement of a liability for at least 12 months after the reporting period.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company anticipates that the application of the above new and revised standards, amendments and interpretations will have no material impact on its results and financial position.</p> | |
| CY2022 | ifrs-full |
Disclosure Of Property Plant And Equipment Explanatory
DisclosureOfPropertyPlantAndEquipmentExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>4.</b></kbd><b>EQUIPMENT</b> </p> <p style="font:10pt Arial;margin:0"> </p> <table style="margin:0 auto;border-collapse:collapse;width:453pt"><tr style="height:38.1pt"><td style="width:173.8pt;border-top:1pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:13.35pt;border-top:1pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-top:1pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:center"><b>Furniture and other equipment</b></p> </td><td style="width:65.8pt;border-top:1pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:center"><b>Vehicles</b></p> </td><td style="width:65.8pt;border-top:1pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:center"><b>Other assets</b></p> </td><td style="width:67.85pt;border-top:1pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:center"><b>Total</b></p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0"><b>Cost</b></p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt"> </p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">As at January 1, 2021</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 124.225</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 41,985</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 23,295</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 189,505</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Additions during the year</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">257</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Exchange adjustment</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(9,687)</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(3,273)</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(1,816)</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(14,776)</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">As at December 31, 2021</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">114,795</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">38,712</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">21,479</p> </td><td style="width:67.85pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">174,986</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Additions during the year</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">2,531</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">2,531</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Exchange adjustment</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">535</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">180</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">100</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">815</p> </td></tr> <tr style="height:13.5pt"><td style="width:173.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0">As at December 31, 2022</p> </td><td style="width:13.35pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 117,861</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 38,892</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 21,579</p> </td><td style="width:67.85pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 178,332</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0"><b>Accumulated depreciation</b></p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">As at January 1, 2021</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 120,677</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 40,237</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 23,295</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 184.209</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Depreciation for the year</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">1,481</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">1,662</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">3.143</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Exchange adjustment</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(9,453)</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(3,187)</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(1,816)</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right">(14,456)</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">As at December 31, 2021</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">112,705</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">38,712</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">21,479</p> </td><td style="width:67.85pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">172.896</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Depreciation for the year</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">1,923</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">-</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">1,923</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0">Exchange adjustment</p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">631</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">180</p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">100</p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">911</p> </td></tr> <tr style="height:13.5pt"><td style="width:173.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0">As at December 31, 2022</p> </td><td style="width:13.35pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 115,259</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 38,892</p> </td><td style="width:65.8pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 21,579</p> </td><td style="width:67.85pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 175,730</p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:173.8pt" valign="bottom"><p style="font:9pt Arial;margin:0"><b>Net book value</b></p> </td><td style="width:13.35pt" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:65.8pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td><td style="width:67.85pt" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right"> </p> </td></tr> <tr style="height:13.5pt"><td style="width:173.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0">As at January 1, 2021</p> </td><td style="width:13.35pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 3,548</p> </td><td style="width:65.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 1,748</p> </td><td style="width:65.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ -</p> </td><td style="width:67.85pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 5,296</p> </td></tr> <tr style="height:13.5pt"><td style="width:173.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0">As at December 31, 2021</p> </td><td style="width:13.35pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 2,090</p> </td><td style="width:65.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ -</p> </td><td style="width:65.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ -</p> </td><td style="width:67.85pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 2,090</p> </td></tr> <tr style="height:13.5pt"><td style="width:173.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0">As at December 31, 2022</p> </td><td style="width:13.35pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0"> </p> </td><td style="width:66.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 2,602</p> </td><td style="width:65.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ -</p> </td><td style="width:65.8pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ -</p> </td><td style="width:67.85pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:9pt Arial;margin:0;margin-right:3.6pt;text-align:right">$ 2,602</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;text-indent:-22.5pt;text-align:justify"> </p> | |
| CY2020Q4 | fil |
Equipment Cost
EquipmentCost
|
189505 | cad |
| CY2021 | fil |
Equipment Depreciation During Period
EquipmentDepreciationDuringPeriod
|
3.143 | cad |
| CY2021 | fil |
Equipment Depreciation Exchange Adjustment
EquipmentDepreciationExchangeAdjustment
|
-14456 | cad |
| CY2021Q4 | fil |
Equipment Accumulated Depreciation
EquipmentAccumulatedDepreciation
|
172.896 | cad |
| CY2022 | fil |
Equipment Depreciation During Period
EquipmentDepreciationDuringPeriod
|
1923 | cad |
| CY2022 | fil |
Equipment Depreciation Exchange Adjustment
EquipmentDepreciationExchangeAdjustment
|
911 | cad |
| CY2022Q4 | fil |
Equipment Accumulated Depreciation
EquipmentAccumulatedDepreciation
|
175730 | cad |
| CY2020Q4 | fil |
Equipment Net Book Value
EquipmentNetBookValue
|
5296 | cad |
| CY2021Q4 | fil |
Equipment Net Book Value
EquipmentNetBookValue
|
2090 | cad |
| CY2022Q4 | fil |
Equipment Net Book Value
EquipmentNetBookValue
|
2602 | cad |
| CY2022 | ifrs-full |
Disclosure Of Exploration And Evaluation Assets Explanatory
DisclosureOfExplorationAndEvaluationAssetsExplanatory
|
<p style="font:10pt Arial;margin:0"><b>5. EXPLORATION AND EVALUATION ASSETS AND MINERAL EXPLORATION EXPENSES</b></p> <p style="font:10pt Arial;margin:0"> </p> <table style="border-collapse:collapse;width:683.8pt;margin-left:5.4pt"><tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td colspan="2" style="width:113.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Portugal</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td colspan="2" style="width:112.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Kosovo</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Others</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:59.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Total</b></p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"></td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Alvalade</b></p> </td><td style="width:57.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Others</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Slivovo</b></p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Others</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b> </b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:59.4pt;border-bottom:0.5pt solid #000000" valign="bottom"></td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"><b>Exploration and evaluation assets</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:8.05pt"><b>Acquisition costs</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt"><b> As of January 1, 2022</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0"><b>As of December 31, 2022</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td><td style="width:57.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:8pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0"><b>Mineral exploration expenses for the year ended December 31, 2022</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Concession fees and taxes</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 8,666</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 8,666</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Geological salaries and consulting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">23,066</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">24,548</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">47,614</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Insurance</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">698</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">698</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Office and administrative fees</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">108</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,005</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,113</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Rent</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">7,396</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">7,396</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Site costs</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,123</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,125</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Travel</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,777</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,940</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,717</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Reimbursements from optionee</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(348,277)</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(56,066)</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(402,343)</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"></td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ (322,626)</p> </td><td style="width:57.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ (7,388)</p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ (330,014)</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0"><b>Cumulative mineral exploration expenses since acquisition</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Assaying</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 297,975</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 65,936</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 10,846</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 374,757</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Concession fees and taxes</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">361,864</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">693,608</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">20,505</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">206,975</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,282,956</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Depreciation</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">17,178</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">98,722</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">115,900</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Drilling</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">610,197</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">472,513</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,180,217</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,262,927</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Geological salaries and consulting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">6,560,881</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">6,317,147</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">144,349</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">720,879</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">12,359</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">13,755,615</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Geology work</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">32,377</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">891,582</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">402,515</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">364,525</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,690,999</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Insurance</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">25,320</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">52,112</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">14,604</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">15,007</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">107,043</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Legal and accounting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,020</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,244</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">58,158</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">13,958</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">74,380</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Office and administrative fees</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">254,058</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">279,739</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">81,228</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">101,624</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">68,446</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">785,095</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Rent</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">606,084</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">596,896</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">36,090</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">88,221</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">20,560</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,347,851</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Report</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">24,232</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">24,232</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Site costs</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">194,205</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">244,377</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">187,250</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">194,582</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">8,865</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">829,279</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Travel</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">241,444</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">247,277</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">63,047</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">22,478</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">15,326</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">589,572</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Trenching and road work</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">34,339</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">34,339</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Reimbursements from optionee</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(8,961,049)</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(4,890,826)</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(2,889,052)</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(45,158)</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(16,786,085)</p> </td></tr> <tr style="height:1pt"><td style="width:297pt" valign="bottom"></td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ (88,798)</p> </td><td style="width:57.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 4,145,186</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 144,524</p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 1,787,017</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 500,931</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 6,488,860</p> </td></tr> </table> <table style="border-collapse:collapse;width:724.3pt;margin-left:0.9pt"><tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td colspan="2" style="width:113.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Portugal</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td colspan="2" style="width:112.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Kosovo</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Germany</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"><b>Others</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:59.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"></td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Alvalade</b></p> </td><td style="width:57.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Others</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Slivovo</b></p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Others</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b> </b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b> </b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"> </p> </td><td style="width:59.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt;text-align:center"><b>Total</b></p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"><b>Exploration and evaluation assets</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin-top:4pt;margin-bottom:0pt"> </p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:8.05pt"><b>Acquisition costs</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt"><b> As of January 1, 2021</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0"><b>As of December 31, 2021</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td><td style="width:57.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 167,920</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:8pt"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0"><b>Mineral exploration expenses for the year ended December 31, 2021</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Concession fees and taxes</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Geological salaries and consulting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">22,203</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">22,203</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Insurance</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">449</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">449</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Legal and accounting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Office and administrative fees</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Rent</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Site costs</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Travel</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,300</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,300</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Reimbursements from optionee</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(483,950)</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(483,950)</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"></td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ (458,998)</p> </td><td style="width:57.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ (458,998)</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0"><b>Cumulative mineral exploration expenses since acquisition</b></p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Assaying</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 297,975</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 65,936</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 10,846</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 374,757</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Concession fees and taxes</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">361,864</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">693,608</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">11,839</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">206,975</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,274,290</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Depreciation</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">17,178</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">98,722</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">115,900</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Drilling</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">610,197</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">472,513</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,180,217</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,262,927</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Geological salaries and consulting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">6,537,815</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">6,317,147</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">119,801</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">720,879</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">12,359</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">13,708,001</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Geology work</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">32,377</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">891,582</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">402,515</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">223,619</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">140,906</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,690,999</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Insurance</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">24,622</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">52,112</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">14,604</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">15,007</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">106,345</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Legal and accounting</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,020</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,244</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">58,158</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">13,958</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">74,380</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Office and administrative fees</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">253,950</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">279,739</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">80,223</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">101,624</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">5,255</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">63,191</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">783,982</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Rent</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">606,084</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">596,896</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">28,694</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">88,221</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">20,560</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,340,455</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Report</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">24,232</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">24,232</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Site costs</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">194,203</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">244,377</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">185,127</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">194,582</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">8,865</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">827,154</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Travel</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">239,667</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">247,277</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">60,107</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">22,478</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">15,326</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">584,855</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Trenching and road work</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">34,339</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">34,339</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-indent:7.95pt">Reimbursements from optionee</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(8,612,772)</p> </td><td style="width:57.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(4,890,826)</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(2,834,986)</p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(45,158)</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(16,383,742)</p> </td></tr> <tr style="height:1pt"><td style="width:270pt" valign="bottom"></td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:56.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 233,828</p> </td><td style="width:57.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 4,145,186</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 151,912</p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 1,787,017</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 252,083</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:56.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 248,848</p> </td><td style="width:11.1pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:59.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 6,818,874</p> </td></tr> </table> <p style="font:10pt Arial;margin-top:0pt;margin-bottom:7.2pt;text-indent:-18pt;margin-left:36pt;text-align:justify"><span style="border-bottom:1px solid #000000"><b>Portugal</b></span></p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Licenses have varying required work commitments and carry a 3% Net Smelter Return (“NSR”) payable to the government of Portugal.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:36pt;text-align:justify"><span style="border-bottom:1px solid #000000">Alvalade:</span></p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">On November 19, 2019, the Company and MAEPA (collectively the “Company”) and Minas de Aguas Teñidas, S.A. (“MATSA”) and its wholly-owned subsidiary EUL (collectively “MATSA”) entered into an Earn-In Joint Venture Agreement (the “Agreement”) in respect of the Alvalade project. Pursuant to the Agreement, PorMining, Unipessoal Lda. (“PorMining”) was incorporated on December 17, 2019 to hold assets and develop mineral rights (both as defined) and EUL can earn up to an 85% interest in PorMining. The earning of this interest, subsequent arrangements that may be entered into to explore the assets and, if warranted, the development of one or more projects are referred to as the “Transaction”.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">On March 27, 2020, MAEPA and EUL entered into a Quota Transfer Agreement pursuant to which MAEPA split its 100% interest in the share capital of PorMining into two quotas, representing 51% and 49% of the company’s share capital, and sold the 51% quota to EUL for the nominal value of €510.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">On March 27, 2020, the Company, MAEPA, MATSA and EUL entered into the PorMining Lda. Shareholders’ Agreement (the “Agreement”). Pursuant to the Agreement:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>PorMining has five directors. From the effective date until the second option exercise date, three will be nominated by EUL and two by MAEPA. Thereafter, four will be nominated by EUL and one will be nominated by MAEPA. Upon the occurrence of the 51/49 Phase and thereafter, EUL is entitled to nominate three directors and MAEPA two directors. In the event of dilution of the interest of EUL or MAEPA, each will be entitled to proportional representation (as described) equal to its then interest; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>In the event that EUL and/or MAEPA wish to sell or transfer their shares in PorMining, PorMining has a right of first refusal to purchase all or a portion of the shares. To the extent that PorMining does not exercise its right of first refusal to all of the shares, each of EUL and/or MAEPA has a right of first refusal; and </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>The Agreement will terminate at such time as there is a final decision regarding the dissolution and liquidation of PorMining, the parties mutually agree on the termination of the Agreement or as provided for under the Earn-In Joint Venture Agreement. </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The effective date of the Transaction is the date that PorMining receives (received on June 15, 2020) the mineral rights in its name from the General Directorate of Energy and Geology of Portugal (“DGEG”). The Transaction is comprised of the following phases:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>Phase I – First Option; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>Phase II – Second Option; </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>51/49 Phase; and </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>Phase III – Development and Operation. </p> <p style="font:10pt Arial;margin:0;text-indent:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Phase I – First Option</span></p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During Phase I, MAEPA granted EUL the sole and exclusive right to hold an undivided 51% interest in PorMining (the first option) for at least three years from the effective date or the issue (issued on June 15, 2020) of the Experimental Exploitation License (the “EEL”) by DGEG to PorMining. EUL’s right to maintain its 51% interest is conditional upon MATSA:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>Paying €400,000 to the Company on or before the effective date (€200,000 was received in December 2019 and the remaining €200,000 was received in June 2020); </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>Funding or providing the necessary financial instrument to cover the guarantee, which will be returned to MATSA following the release of the guarantee by DGEG (funded €100,000 in June 2020); and </p> <p style="font:10pt Arial;margin:0;margin-left:58.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-22.5pt">·</kbd>Funding expenditures (the first option expenditures) on the mineral rights in an aggregate amount of €2,400,000 (€1,200,000 within the first 12 months following the effective date [met] and €1,200,000 in the next 24 months [met]) on or before three years from the effective date or the issue of the EEL. </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Effectively in March 2022, MATSA completed the Phase I First Option by funding a total of €2,500,000 on the Alvalade project, including the €100,000 guarantee with DGEG, and EUL unconditionally earned the 51% interest in PorMining.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During Phase I, MAEPA acted as the operator of the mineral rights with PorMining paying MAEPA an operator’s fee equal to €100,000 per year, paid monthly starting June 16, 2020, funded by MATSA and which formed part of the first option expenditures.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">In all other phases, PorMining will be the operator unless it appoints another person to act as operator. The operator is responsible for developing and submitting work programs to the technical committee or the board of directors for consideration and approval and to implement work programs when approved according to the approved budget. The technical committee is comprised of two representatives from each of EUL and MAEPA and will be in effect until the first option exercise date. Thereafter, the board of directors will make all decisions with respect to the mineral rights. </p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Upon the completion of Phase I, MATSA and PorMining continued with having MAEPA acting as the operator and PorMining continued paying the operator’s fee. During the year ended December 31, 2022, MAEPA received €100,000 ($136,960) operator’s fee where the fund was included in reimbursements from optionee.</p> <p style="font:10pt Arial;margin:0;text-indent:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Phase II – Second Option</span></p> <p style="font:8pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Phase II commenced on the first option exercise date and continues until the first to occur of the second option exercise date and the termination of the second option. On the first option exercise date, the Company granted EUL the sole and exclusive right and option to acquire an additional 34% (for an aggregate 85% interest) in PorMining (the second option). EUL’s right to exercise the second option is conditional on MATSA satisfying the second option conditions as follows:</p> <p style="font:8pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>Preparing, funding and delivering to PorMining a feasibility study on the mineral rights within five years of the issuance of the EEL or, provided that DGEG grants an extension to all or part of the EEL, the time period for when the second option conditions must be met shall be extended to a maximum of two additional years, for a total of seven years after the issuance of the original EEL; </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>Making proper application for a mining license before the end of the term of the EEL; and </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>Making all progress payments to Antofagasta as set out in the Debt Cancellation Agreement dated June 12, 2017 as follows: </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$250,000 within 60 days after the date of a news release announcing a NI 43-101 compliant technical report having been completed and with results as defined; </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$500,000 within 60 days after the date of a news release announcing completion of a feasibility study with results as defined; </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$500,000 on the one-year anniversary of the date of the news release announcing the feasibility study noted above; </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$750,000 within 60 days of the commencement of commercial production; </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$750,000 on the one-year anniversary of commencement of commercial production; </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$750,000 on the second anniversary of commencement of commercial production; and </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt Courier New;margin-left:-18pt">o</kbd>US$750,000 on the third anniversary of commencement of commercial production. </p> <p style="font:8pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The satisfaction of the second option conditions is solely at MATSA’s discretion and MATSA may elect to terminate the second option at any time by delivering notice (the second option termination notice) to the Company. If the second option is terminated, EUL will be entitled to retain its 51% interest in PorMining, plus an additional 1% interest for every €735,294 of expenditures funded during Phase II and the 51/49 Phase will commence.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Upon MATSA satisfying the second option conditions, EUL automatically earns an additional 34% interest in PorMining for an aggregate interest of 85%.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During Phase II, EUL will fund 100% of all maintenance payments and approved work programs.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">As of December 31, 2022, MATSA funded €931,000 on the Alvalade project Phase II – Second Option. Subsequently, MATSA funded another €528,000 on the Alvalade project in Phase II.</p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">51/49 Phase</span></p> <p style="font:8pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The 51/49 Phase commences on termination of the second option and continues until the deemed conversion of the interest of a party to a royalty. During the 51/49 Phase, PorMining will remain the operator subject to the terms of the Agreement and the shareholders’ agreement and the activities of the parties with respect to the mineral rights will continue to be governed by the shareholder’s agreement. </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">If at any time after the 51/49 Phase has commenced EUL’s interest is reduced to below 10% as a result of dilution calculations, its interest will be deemed to be converted to a 1.5% royalty, which royalty shall only be payable up to a maximum total payment of €13,000,000 after which it will no longer be applicable. Upon conversion to the royalty, EUL will have no further rights or interest in respect of the assets under the Agreement or the shareholders’ agreement except for the royalty and the termination provisions apply. </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">If at any time during the 51/49 Phase MAEPA’s interest is reduced to 15% as a result of dilution calculations, then its interest will be deemed to be converted to a 15% “carried interest” following which MAEPA will not be required to contribute to any further work programs and will not be subject to any further dilution until such time as a feasibility study has been prepared, at which point Phase III will have been deemed to have commenced and MAEPA will have to sell the option.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During the 51/49 Phase, the parties will fund the maintenance payments and contribute to the costs of any approved work and/or development programs in proportion to their proportionate share.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Phase III – Development and Operation</span></p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Phase III commences on the second option exercise date and continues until the deemed conversion of the interest of a party to a royalty. Within 90 days of the commencement of Phase III, the Company will transfer its 15% interest in PorMining to MATSA in consideration for €10,000,000 to be paid as follows:</p> <p style="font:8pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>€3,000,000 upon a construction decision being made by PorMining and all permits having been received from DGEG; </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>€3,000,000 upon commencement of commercial production; and </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>€4,000,000 upon the first anniversary of commencement of commercial production. </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During Phase III, the parties will contribute their respective pro rata share of all approved work programs and budgets.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">If at any time after Phase III has commenced MAEPA’s interest is reduced to below 10% as a result of dilution calculations, its interest will be deemed to be converted to a 1.5% royalty as described above for EUL.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="border-collapse:collapse;width:489pt;margin-left:25.8pt"><tr style="height:25.5pt"><td style="width:25.8pt" valign="bottom"><p style="font:9.5pt Arial;margin:0"> </p> </td><td style="width:201.3pt" valign="bottom"></td><td style="width:122.4pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right"><b>December 31, 2022</b></p> </td><td style="width:13.45pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9.5pt Arial;margin:0"><b> </b></p> </td><td style="width:126.05pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right"><b>December 31, 2021</b></p> </td></tr> <tr style="height:6pt"><td style="width:25.8pt" valign="bottom"><p style="font:9.5pt Arial;margin:0"> </p> </td><td style="width:201.3pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:center"> </p> </td><td style="width:122.4pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.45pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right"> </p> </td><td style="width:126.05pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td colspan="2" style="width:227.1pt" valign="bottom"><p style="font:9.5pt Arial;margin:0"><b>Due from optionee</b></p> </td><td style="width:122.4pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:center"> </p> </td><td style="width:13.45pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:center"> </p> </td><td style="width:126.05pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:center"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:25.8pt" valign="bottom"><p style="font:9.5pt Arial;margin:0"> </p> </td><td style="width:201.3pt" valign="bottom"><p style="font:9.5pt Arial;margin:0">Alvalade - PorMining</p> </td><td style="width:122.4pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right">$ 12,811</p> </td><td style="width:13.45pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right"> </p> </td><td style="width:126.05pt" valign="bottom"><p style="font:9.5pt Arial;margin:0;text-align:right">$ 12,751</p> </td></tr> <tr style="height:13.5pt"><td style="width:25.8pt" valign="middle"><p style="font:9.5pt Arial;margin:0"> </p> </td><td style="width:201.3pt" valign="middle"></td><td style="width:122.4pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:9.5pt Arial;margin:0;text-align:right">$ 12,811</p> </td><td style="width:13.45pt" valign="middle"><p style="font:9.5pt Arial;margin:0;text-align:right"> </p> </td><td style="width:126.05pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:9.5pt Arial;margin:0;text-align:right">$ 12,751</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:36pt;text-align:justify"><span style="border-bottom:1px solid #000000"><b>Kosovo</b></span></p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:36pt;text-align:justify"><span style="border-bottom:1px solid #000000">Slivova (formerly Slivovo) license:</span></p> <p style="font:10pt Arial;margin:0;margin-left:35.45pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Byrnecut International Limited (“Byrnecut”) earned an 85% interest in the Slivovo property after forwarding $2,834,986 (€2,000,000) for the Slivovo property to the Company and completing a Preliminary Feasibility Study (“PFS”) by April 10, 2017. Byrnecut and the Company set up a joint venture entity known as Peshter Mining J.S.C. (“Peshter Mining”) to reflect the 85:15 ownership and transferred the Slivovo license into Peshter Mining with Byrnecut being the operator. Avrupa’s interest in Peshter Mining was subsequently diluted to below 10%, resulting in the Company’s interest in Peshter Mining being converted into a 2% Net Smelter Return.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">On December 31, 2019, the Company wrote down its interest in Slivovo by $143,154 to $1 as the Company was in negotiations with the Kosovo Mining Bureau, along with Byrnecut and Peshter Mining as to how to possibly extend the life of this license. During fiscal 2020, Byrnecut decided not to proceed with advancing Slivovo. Rather than dropping the license and potentially allowing a third party to stake the open land, Innomatik Exploration Kosovo LLC (“IEK”), Byrnecut and Peshter Mining entered into a binding term sheet (the “TS”) whereby the parties set out the terms on which Peshter Mining would surrender the existing tenements, thereby enabling IEK to apply, as sole beneficial owner, for one or more tenements over the entirety of the tenement area. The license was officially released back to the government. As of December 31, 2020, the Company wrote off $1.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">In March 2021, the Company incorporated a wholly-owned subsidiary, AVU Kosova LLC, to apply for a new Slivovo exploration permit. In May 2022, the Company received a seven-year exploration permit known as the Slivova license.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">As consideration for Byrnecut ensuring that Peshter Mining complies with its obligations under the TS, IEK must pay to Byrnecut milestone cash payments totaling €375,000 and milestone gold payments totaling 850 troy ounces of gold (together known as “Success Payments”) as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Cash</span></p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>€125,000 within 30 days of the first to occur of the completion of a positive bankable feasibility study or the board of directors of IEK making a decision to proceed with the development of a commercial mining operation in respect of all or any part of the tenement area; </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>€125,000 within 30 days of issue of a mining license in respect of all or any party of the tenement area; and </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>€125,000 within 30 days of commencement of construction of a mine within the tenement area. </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Gold</span></p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>100 troy ounces within 30 days of commencement of commercial production (“CCP”); </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>175 troy ounces within 30 days of the one-year anniversary of CCP; </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>250 troy ounces within 30 days of the two-year anniversary of CCP; and </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>325 troy ounces within 30 days of the three-year anniversary of CCP. </p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">On August 24, 2022, the Company and Western Tethyan Resources (“WTR”) entered into an Option Agreement (the “Agreement”) in respect of the Slivova project. WTR is a private exploration company and is 75% owned by London AIM-listed Ariana Resources PLC. Pursuant to the Agreement, WTR can earn up to an 85% interest in the Slivova project. The terms of the Agreement are:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="border-collapse:collapse;width:504pt;margin-left:5.4pt"><tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center"><b>Date/Period</b></p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center"><b>Expenditures</b></p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center"><b>Option Payment</b></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center"><b>Earn-in %</b></p> </td></tr> <tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">On September 1, 2022</p> <p style="font:10pt Arial;margin:0;text-align:justify">(Effective Date)</p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">None</p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€35,000 (received)</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td></tr> <tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">On or before March 1, 2023</p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€100,000 (spent subsequently)</p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">None</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td></tr> <tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">On March 1, 2023</p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">None</p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€35,000 <span style="vertical-align:super">(1)</span></p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td></tr> <tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">On or before September 1, 2023</p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€150,000</p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€30,000</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td></tr> <tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">On or before September 1, 2024</p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€650,000</p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">None</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">51% (Stage 1)</p> </td></tr> <tr><td style="width:18pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:162pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">On or before September 1, 2025</p> </td><td style="width:148.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">€1,000,000</p> </td><td style="width:99pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">None</p> </td><td style="width:76.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">75% (Stage 2)</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><span style="vertical-align:super">(1)</span> The Company and WTR are working on the definitive agreement and the amount was received on March 6, 2023.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During fourth and fifth year from the Effective Date (Stage 3), WTR must complete the Environmental Impact Study (“EIS”), Feasibility Study (“FS”), and Mining License application to earn-in 85% interest in the project.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During Stage 4, WTR will complete Success Payments to previous JV partner, Byrnecut (see “TS” above).</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During Stage 5, the Company will participate in the mine build or dilute to 1% Net Smelter Return (“NSR”).</p> | |
| CY2021Q4 | fil |
Exploration And Evaluation Assets Acquisition Costs
ExplorationAndEvaluationAssetsAcquisitionCosts
|
167920 | cad |
| CY2022Q4 | fil |
Exploration And Evaluation Assets Acquisition Costs
ExplorationAndEvaluationAssetsAcquisitionCosts
|
167920 | cad |
| CY2022 | fil |
Mineral Exploration Expenses
MineralExplorationExpenses
|
-330014 | cad |
| CY2022Q4 | fil |
Cumulative Mineral Exploration Expenses Since Acquisition
CumulativeMineralExplorationExpensesSinceAcquisition
|
6488860 | cad |
| CY2020Q4 | fil |
Exploration And Evaluation Assets Acquisition Costs
ExplorationAndEvaluationAssetsAcquisitionCosts
|
167920 | cad |
| CY2021Q4 | fil |
Exploration And Evaluation Assets Acquisition Costs
ExplorationAndEvaluationAssetsAcquisitionCosts
|
167920 | cad |
| CY2021 | fil |
Mineral Exploration Expenses
MineralExplorationExpenses
|
-458998 | cad |
| CY2021Q4 | fil |
Cumulative Mineral Exploration Expenses Since Acquisition
CumulativeMineralExplorationExpensesSinceAcquisition
|
6818874 | cad |
| CY2022Q4 | us-gaap |
Due From Related Parties
DueFromRelatedParties
|
12811 | cad |
| CY2021Q4 | us-gaap |
Due From Related Parties
DueFromRelatedParties
|
12751 | cad |
| CY2019Q4 | fil |
Slivovo License Writeoff
SlivovoLicenseWriteoff
|
143154 | cad |
| CY2022 | ifrs-full |
Disclosure Of Deposits From Banks Explanatory
DisclosureOfDepositsFromBanksExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>6. </b></kbd><b>PROPERTY DEPOSITS / TAX DEPOSITS</b> </p> <p style="font:10pt Arial;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Property deposits</span>:</p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">As of December 31, 2022, the Company had a total of $1,446 (€1,000) (December 31, 2021: $1,439 (€1,000)) of cash pledged for its exploration licenses in Portugal. The advances to the Portuguese regulatory authorities are refundable to the Company, subject to completion of the work obligations described in the exploration license applications.</p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:18pt;text-align:justify"><span style="border-bottom:1px solid #000000">Tax deposits</span>:</p> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">In November 2018, MAEPA paid €56,505 ($88,201) in lieu of bank guarantees of €77,918 ($121,625) to the Directora de Finanças de Braga in Portugal. This amount was comprised of €51,920 ($81,044) in respect of stamp tax and €4,585 ($7,157) in respect of VAT. The stamp tax portion relates to the interpretation that intercompany advances received by MAEPA are financing loans and, accordingly, are subject to stamp tax. The VAT portion relates to certain invoices for vehicle usage and construction services. As of December 31, 2019, the Company estimated that the judicial review process would take approximately one year for the VAT claim and three to five years for the stamp tax claim and that the likelihood of success for each was 50%. As a result, tax deposits were written down by $41,200 (€28,252) during the year ended December 31, 2019. During 2020, the judicial review ruled that approximately €1,971 VAT remained to be paid while the rest were annulled. The Company accepted this ruling. The Company is still waiting for a trial date regarding the stamp tax and it is estimated that the process can take another three to four years.</p> | |
| CY2022Q4 | fil |
Pledged For Its Exploration Licenses In Portugal
PledgedForItsExplorationLicensesInPortugal
|
1446 | cad |
| CY2021Q4 | fil |
Pledged For Its Exploration Licenses In Portugal
PledgedForItsExplorationLicensesInPortugal
|
1439 | cad |
| CY2020Q4 | fil |
Options Exercisable
OptionsExercisable
|
1227000 | shares |
| CY2021 | fil |
Options Exercisable Granted
OptionsExercisableGranted
|
0 | shares |
| CY2021 | fil |
Options Exercisable Exercised
OptionsExercisableExercised
|
0 | shares |
| CY2022Q4 | fil |
Summarized Financial Information Of Afoy Current Assets
SummarizedFinancialInformationOfAfoyCurrentAssets
|
101996 | cad |
| CY2022Q4 | fil |
Summarized Financial Information Of Afoy Non Current Assets
SummarizedFinancialInformationOfAfoyNonCurrentAssets
|
263796 | cad |
| CY2022Q4 | fil |
Summarized Financial Information Of Afoy Current Liabilities
SummarizedFinancialInformationOfAfoyCurrentLiabilities
|
4264 | cad |
| CY2022Q4 | fil |
Summarized Financial Information Of Afoy Non Current Liabilities
SummarizedFinancialInformationOfAfoyNonCurrentLiabilities
|
527717 | cad |
| CY2022 | fil |
Summarized Financial Information Of Afoy Loss For The Year
SummarizedFinancialInformationOfAfoyLossForTheYear
|
128517 | cad |
| CY2022 | ifrs-full |
Disclosure Of Share Capital Reserves And Other Equity Interest Explanatory
DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>8. </b></kbd><b>CAPITAL AND RESERVES</b> </p> <p style="font:10pt Arial;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-36pt">(a)</kbd><kbd style="margin-left:-18pt"></kbd>Authorized: </p> <p style="font:10pt Arial;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">At December 31, 2022, the authorized share capital was comprised of an unlimited number of common shares. The common shares do not have a par value. All issued shares are fully paid.</p> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:76.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-58.5pt">(b)</kbd><kbd style="margin-left:-40.5pt"></kbd>Share consolidation </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">On December 21, 2020, the Company consolidated its share capital on the basis of one new share for every 4 old shares. All references to the number of shares and per share amounts have been retroactively restated to reflect the consolidation.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:76.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-58.5pt">(c)</kbd><kbd style="margin-left:-40.5pt"></kbd>Share issuances: </p> <p style="font:10pt Arial;margin:0;text-indent:-45pt;margin-left:76.5pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:49.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-13.5pt">i.</kbd>On October 23, 2020, the Company completed a non-brokered private placement by issuing 4,219,641 units (“Unit”) at a price of $0.12 per Unit for gross proceeds of $506,357. Each Unit consists of one common share and one non-transferable warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.20 until October 23, 2023. The warrants were ascribed a value of $223,080. </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-22.5pt;margin-left:72pt;text-align:justify">In connection with the financing, a total of $21,537 share issue costs were incurred.</p> <p style="font:10pt Arial;margin:0;text-indent:-22.5pt;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:49.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-13.5pt">ii.</kbd>On February 28, 2022, the Company completed a non-brokered private placement by issuing 16,666,667 units (“Unit”) at a price of $0.075 per Unit for gross proceeds of $1,250,000. Each Unit consists of one common share and one non-transferable warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.125 until February 28, 2025. The warrants were ascribed a value of $554,525. The Company paid finder’s fee of $30,938 and issued 412,500 finder’s warrants. Each finder’s warrant is exercisable into one common share at $0.075 until August 28, 2023. These finder’s warrants were ascribed a value of $19,841. The Company incurred additional share issue costs in the amount of $29,478 in connection with the financing. </p> <p style="font:10pt Arial;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:49.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-13.5pt">iii</kbd>On February 28, 2022, the Company issued 3,800,000 shares at a price of $0.075 per share to settle outstanding debt for $285,000. </p> <p style="font:10pt Arial;margin:0;text-indent:-13.5pt;margin-left:49.5pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:49.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-13.5pt">iv</kbd>On March 3, 2022, the Company issued 1,470,000 shares to earn an initial 49% interest in AFOy (Note 7). </p> <p style="font:10pt Arial;margin:0;margin-left:76.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-58.5pt">(d)</kbd><kbd style="margin-left:-40.5pt"></kbd>Share Purchase Option Compensation Plan: </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company has established a stock option plan whereby the Company may grant options to directors, officers, employees and consultants of up to 10% of the common shares outstanding at the time of grant. The exercise price, term and vesting period of each option are determined by the board of directors within regulatory guidelines.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">On December 21, 2020, the Company’s stock options were consolidated on a 4 for 1 basis and the exercised prices were reflected as such (Note 8(b)).</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Stock option transactions and the number of stock options for the year ended December 31, 2022 are summarized as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:517.45pt"><tr style="height:1pt"><td style="width:32.45pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:60pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired/</p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2021</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Granted</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">cancelled</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">April 26, 2022</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">327,500</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(327,500)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 14, 2023 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">450,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">450,000</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 26, 2023 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">10,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">10,000</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">January 7, 2024</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">45,750</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">45,750</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 14, 2027</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.08</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,575,000</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,575,000</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Options outstanding </p> </td><td style="width:44pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">833,250</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,575,000</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(327,500)</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,080,750</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt">Options exercisable</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">833,250</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">1,575,000</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">(327,500)</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">2,080,750</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.39</p> </td><td style="width:60pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.08</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.15</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><span style="vertical-align:super">(1)</span></kbd>Subsequent to December 31, 2022, these options expired unexercised. </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">As of December 31, 2022, the weighted average contractual remaining life is 3.25 years (December 31, 2021 – 0.90 years).</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Stock option transactions and the number of stock options for the year ended December 31, 2021 are summarized as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:521.95pt"><tr style="height:1pt"><td style="width:36.95pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:60pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired/</p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2020</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Granted</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">cancelled</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2021</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">September 26, 2021</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.72 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">393,750</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(393,750)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">April 26, 2022</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">327,500</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">327,500</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 14, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">450,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">450,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 26, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">10,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">10,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">January 7, 2024</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">45,750</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">45,750</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Options outstanding </p> </td><td style="width:44pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,227,000</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(393,750)</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">833,250</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt">Options exercisable</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">1,227,000</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">-</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">(393,750)</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin-top:3pt;margin-bottom:3pt;text-align:right">833,250</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.50</p> </td><td style="width:60pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.72</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.39</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Stock option transactions and the number of stock options for the year ended December 31, 2020 are summarized as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:521.95pt"><tr style="height:1pt"><td style="width:36.95pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:60pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired/</p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2019</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Granted</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">cancelled</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2020</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">July 15, 2020 </p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">503,750</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(503,750)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">September 26, 2021</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.72 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">393,750</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">393,750</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">April 26, 2022</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">327,500</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">327,500</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 14, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">450,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">450,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 26, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">10,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">10,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">January 7, 2024</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">45,750</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">45,750</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Options outstanding </p> </td><td style="width:44pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,730,750</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(503,750)</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,227,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Options exercisable</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,730,750</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(503,750)</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,227,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.47</p> </td><td style="width:60pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.50</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The weighted average assumptions used to estimate the fair value of options for the years ended December 31, 2022, 2021 and 2020 were:</p> <table style="margin:0 auto;border-collapse:collapse;width:441pt"><tr><td style="width:184.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2022</p> </td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2021</p> </td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2020</p> </td></tr> <tr><td style="width:184.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Risk-free interest rate</p> </td><td style="width:85.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">1.34%</p> </td><td style="width:85.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected life</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">5 years</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected volatility</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">144.13%</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> <tr><td style="width:184.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected dividend yield</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">Nil</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Option pricing models require the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate, and therefore the existing models do not necessarily provide a reliable measure of the fair value of the Company’s share purchase options.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:76.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-58.5pt">(e)</kbd><kbd style="margin-left:-40.5pt"></kbd>Finder’s Options: </p> <p style="font:10pt Arial;margin:0;text-indent:-72pt;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The continuity of finder’s options for the year ended December 31, 2022 is as follows:</p> <table style="margin:0 auto;border-collapse:collapse;width:513pt"><tr style="height:1pt"><td style="width:36.95pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:51.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2021</p> </td><td style="width:51.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Issued</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">August 28, 2023</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.075</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:51.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">412,500</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">412,500</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Outstanding</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:51.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">412,500</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">412,500</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:51.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.075</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.075</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">As of December 31, 2022, the weighted average contractual remaining life is 0.66 years.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The weighted average assumptions used to estimate the fair value of finder’s options for the years ended December 31, 2022, 2021 and 2020 were:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:441pt"><tr><td style="width:184.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2022</p> </td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2021</p> </td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2020</p> </td></tr> <tr><td style="width:184.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Risk-free interest rate</p> </td><td style="width:85.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">0.49%</p> </td><td style="width:85.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected life</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">1.5 years</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected volatility</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">149.50%</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> <tr><td style="width:184.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected dividend yield</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">Nil</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(f)</kbd>Warrants: </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">On December 21, 2020, the Company’s warrants were consolidated on a 4 for 1 basis and the exercised prices were reflected as such (Note 8(b)).</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify">The continuity of warrants for the year ended December 31, 2022 is as follows:</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:509.95pt"><tr style="height:1pt"><td style="width:32.45pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:60pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2021</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Issued</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:54.5pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">February 25, 2022 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">500,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(500,000)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">October 23, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">February 28, 2025</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.125</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">16,666,667</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">16,666,667</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Outstanding</p> </td><td style="width:44pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,719,641</p> </td><td style="width:60pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">16,666,667</p> </td><td style="width:13.05pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(500,000)</p> </td><td style="width:74pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">20,886,308</p> </td></tr> <tr style="height:1pt"><td style="width:32.45pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.22</p> </td><td style="width:60pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.125</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.14</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:49.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-13.5pt"><span style="vertical-align:super">(1)</span></kbd>These warrants have a forced exercise price. If the closing price of the Company’s shares is $0.80 or greater for a period of 20 consecutive trading days, the warrants will expire on the earlier of the 30<span style="vertical-align:super">th</span> day after such notice is given and the original expiry date. </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">As of December 31, 2022, the weighted average contractual life is 1.89 years (December 31, 2021 – 1.64 years).</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify">The continuity of warrants for the year ended December 31, 2021 is as follows:</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:514.45pt"><tr style="height:1pt"><td style="width:36.95pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:60pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2020</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Issued</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:54.5pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2021</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">November 9, 2021 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,500,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(2,500,000)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">December 17, 2021<span style="vertical-align:super"> (1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,160,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(1,160,000)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">December 18, 2021</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">455,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(455,000)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">February 25, 2022 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">500,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">500,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">October 23, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Outstanding</p> </td><td style="width:44pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">8,834,641</p> </td><td style="width:60pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(4,115,000)</p> </td><td style="width:74pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,719,641</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.29</p> </td><td style="width:60pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:54.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.38</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.22</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify">The continuity of warrants for the year ended December 31, 2020 is as follows:</p> <p style="font:10pt Arial;margin:0;text-indent:-18pt;margin-left:54pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:521.95pt"><tr style="height:1pt"><td style="width:36.95pt" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:99.95pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:44pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Exercise</p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td><td style="width:60pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:13.05pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:66pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:74pt;border-top:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">December 31,</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Expiry date</p> </td><td style="width:44pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">price</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2019</p> </td><td style="width:60pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Issued</p> </td><td style="width:13.05pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center"> </p> </td><td style="width:62pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Exercised</p> </td><td style="width:66pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">Expired</p> </td><td style="width:74pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2020</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">March 26, 2020</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.48 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,718,750</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(1,718,750)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">July 12, 2020 </p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.60 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,542,500</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(2,542,500)</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">November 9, 2021 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,500,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">2,500,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">December 17, 2021<span style="vertical-align:super"> (1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,160,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">1,160,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">December 18, 2021</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">455,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">455,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">February 25, 2022 <span style="vertical-align:super">(1)</span></p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.40 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">500,000</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">500,000</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt" valign="bottom"><p style="font:8pt Arial;margin:0">October 23, 2023</p> </td><td style="width:44pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20 </p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:60pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td><td style="width:13.05pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:74pt" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Outstanding</p> </td><td style="width:44pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">8,876,250</p> </td><td style="width:60pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">4,219,641</p> </td><td style="width:13.05pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">-</p> </td><td style="width:66pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">(4,261,250)</p> </td><td style="width:74pt;border-top:1pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">8,834,641</p> </td></tr> <tr style="height:1pt"><td style="width:36.95pt" valign="bottom"></td><td style="width:99.95pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Weighted average exercise price</p> </td><td style="width:44pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.46</p> </td><td style="width:60pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.20</p> </td><td style="width:13.05pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right"> </p> </td><td style="width:62pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$Nil</p> </td><td style="width:66pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.55</p> </td><td style="width:74pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$0.29</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The weighted average assumptions used to estimate the fair value of warrants for the years ended December 31, 2022, 2021 and 2020 were:</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:441pt"><tr><td style="width:184.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2022</p> </td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2021</p> </td><td style="width:85.5pt;border-top:1.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">2020</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Risk-free interest rate</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">0.88%</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">1.46%</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected life</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">3 years</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">3 years</p> </td></tr> <tr><td style="width:184.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected volatility</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">161.98%</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">149.71%</p> </td></tr> <tr><td style="width:184.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:justify">Expected dividend yield</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">Nil</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">n/a</p> </td><td style="width:85.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">Nil</p> </td></tr> </table> | |
| CY2021Q4 | fil |
Options Outstanding
OptionsOutstanding
|
833250 | shares |
| CY2022 | fil |
Options Outstanding Granted
OptionsOutstandingGranted
|
1575000 | shares |
| CY2022 | fil |
Options Outstanding Exercised
OptionsOutstandingExercised
|
0 | shares |
| CY2022 | fil |
Options Outstanding Expired Or Cancelled
OptionsOutstandingExpiredOrCancelled
|
-327500 | shares |
| CY2022Q4 | fil |
Options Outstanding
OptionsOutstanding
|
2080750 | shares |
| CY2021Q4 | fil |
Options Exercisable
OptionsExercisable
|
833250 | shares |
| CY2022 | fil |
Options Exercisable Granted
OptionsExercisableGranted
|
1575000 | shares |
| CY2022 | fil |
Options Exercisable Exercised
OptionsExercisableExercised
|
0 | shares |
| CY2022 | fil |
Options Exercisable Expired Or Cancelled
OptionsExercisableExpiredOrCancelled
|
-327500 | shares |
| CY2022Q4 | fil |
Options Exercisable
OptionsExercisable
|
2080750 | shares |
| CY2021Q4 | fil |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.39 | |
| CY2022 | fil |
Weighted Average Exercise Price Options Granted
WeightedAverageExercisePriceOptionsGranted
|
0.08 | |
| CY2022 | fil |
Weighted Average Exercise Price Options Exercised
WeightedAverageExercisePriceOptionsExercised
|
0 | |
| CY2022 | fil |
Weighted Average Exercise Price Options Expired Or Cancelled
WeightedAverageExercisePriceOptionsExpiredOrCancelled
|
0.40 | |
| CY2022Q4 | fil |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.15 | |
| CY2022 | fil |
Weighted Average Remaining Contractual Life Stock Options
WeightedAverageRemainingContractualLifeStockOptions
|
P3Y3M | |
| CY2021 | fil |
Weighted Average Remaining Contractual Life Stock Options
WeightedAverageRemainingContractualLifeStockOptions
|
P0Y10M24D | |
| CY2020Q4 | fil |
Options Outstanding
OptionsOutstanding
|
1227000 | shares |
| CY2021 | fil |
Options Outstanding Granted
OptionsOutstandingGranted
|
0 | shares |
| CY2021 | fil |
Options Outstanding Exercised
OptionsOutstandingExercised
|
0 | shares |
| CY2021 | fil |
Options Outstanding Expired Or Cancelled
OptionsOutstandingExpiredOrCancelled
|
-393750 | shares |
| CY2021Q4 | fil |
Options Outstanding
OptionsOutstanding
|
833250 | shares |
| CY2021 | fil |
Options Exercisable Expired Or Cancelled
OptionsExercisableExpiredOrCancelled
|
-393750 | shares |
| CY2021Q4 | fil |
Options Exercisable
OptionsExercisable
|
833250 | shares |
| CY2020Q4 | fil |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.50 | |
| CY2021 | fil |
Weighted Average Exercise Price Options Granted
WeightedAverageExercisePriceOptionsGranted
|
0 | |
| CY2021 | fil |
Weighted Average Exercise Price Options Exercised
WeightedAverageExercisePriceOptionsExercised
|
0 | |
| CY2021 | fil |
Weighted Average Exercise Price Options Expired Or Cancelled
WeightedAverageExercisePriceOptionsExpiredOrCancelled
|
0.72 | |
| CY2021Q4 | fil |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.39 | |
| CY2019Q4 | fil |
Options Outstanding
OptionsOutstanding
|
1730750 | shares |
| CY2020 | fil |
Options Outstanding Granted
OptionsOutstandingGranted
|
0 | shares |
| CY2020 | fil |
Options Outstanding Exercised
OptionsOutstandingExercised
|
0 | shares |
| CY2020 | fil |
Options Outstanding Expired Or Cancelled
OptionsOutstandingExpiredOrCancelled
|
-503750 | shares |
| CY2020Q4 | fil |
Options Outstanding
OptionsOutstanding
|
1227000 | shares |
| CY2019Q4 | fil |
Options Exercisable
OptionsExercisable
|
1730750 | shares |
| CY2020 | fil |
Options Exercisable Granted
OptionsExercisableGranted
|
0 | shares |
| CY2020 | fil |
Options Exercisable Exercised
OptionsExercisableExercised
|
0 | shares |
| CY2020 | fil |
Options Exercisable Expired Or Cancelled
OptionsExercisableExpiredOrCancelled
|
-503750 | shares |
| CY2020Q4 | fil |
Options Exercisable
OptionsExercisable
|
1227000 | shares |
| CY2019Q4 | fil |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.47 | |
| CY2020 | fil |
Weighted Average Exercise Price Options Granted
WeightedAverageExercisePriceOptionsGranted
|
0 | |
| CY2020 | fil |
Weighted Average Exercise Price Options Exercised
WeightedAverageExercisePriceOptionsExercised
|
0 | |
| CY2020 | fil |
Weighted Average Exercise Price Options Expired Or Cancelled
WeightedAverageExercisePriceOptionsExpiredOrCancelled
|
0.40 | |
| CY2020Q4 | fil |
Weighted Average Exercise Price
WeightedAverageExercisePrice
|
0.50 | |
| CY2019Q4 | fil |
Finder S Options Outstanding Number Of Options
FinderSOptionsOutstandingNumberOfOptions
|
0 | shares |
| CY2020 | fil |
Finder S Options Outstanding Number Of Options Issued
FinderSOptionsOutstandingNumberOfOptionsIssued
|
412500 | shares |
| CY2020 | fil |
Finder S Options Outstanding Number Of Options Exercised
FinderSOptionsOutstandingNumberOfOptionsExercised
|
0 | shares |
| CY2020 | fil |
Finder S Options Outstanding Number Of Options Expired
FinderSOptionsOutstandingNumberOfOptionsExpired
|
0 | shares |
| CY2020Q4 | fil |
Finder S Options Outstanding Number Of Options
FinderSOptionsOutstandingNumberOfOptions
|
412500 | shares |
| CY2019Q4 | fil |
Finder S Options Weighted Average Exercise Price
FinderSOptionsWeightedAverageExercisePrice
|
0 | |
| CY2020 | fil |
Finder S Options Weighted Average Exercise Price Issued
FinderSOptionsWeightedAverageExercisePriceIssued
|
0.075 | |
| CY2020 | fil |
Finder S Options Weighted Average Exercise Price Exercised
FinderSOptionsWeightedAverageExercisePriceExercised
|
0 | |
| CY2020 | fil |
Finder S Options Weighted Average Exercise Price Expired
FinderSOptionsWeightedAverageExercisePriceExpired
|
0 | |
| CY2020Q4 | fil |
Finder S Options Weighted Average Exercise Price
FinderSOptionsWeightedAverageExercisePrice
|
0.075 | |
| CY2021Q4 | fil |
Warrants Outstanding Number Of Options
WarrantsOutstandingNumberOfOptions
|
4719641 | shares |
| CY2022 | fil |
Warrants Outstanding Number Of Options Issued
WarrantsOutstandingNumberOfOptionsIssued
|
16666667 | shares |
| CY2022 | fil |
Warrants Outstanding Number Of Options Exercised
WarrantsOutstandingNumberOfOptionsExercised
|
0 | shares |
| CY2022 | fil |
Warrants Outstanding Number Of Options Expired
WarrantsOutstandingNumberOfOptionsExpired
|
-500000 | shares |
| CY2022Q4 | fil |
Warrants Outstanding Number Of Options
WarrantsOutstandingNumberOfOptions
|
20886308 | shares |
| CY2021Q4 | fil |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.22 | |
| CY2022 | fil |
Warrants Weighted Average Exercise Price Issued
WarrantsWeightedAverageExercisePriceIssued
|
0.125 | |
| CY2022 | fil |
Warrants Weighted Average Exercise Price Exercised
WarrantsWeightedAverageExercisePriceExercised
|
0 | |
| CY2022 | fil |
Warrants Weighted Average Exercise Price Expired
WarrantsWeightedAverageExercisePriceExpired
|
0.40 | |
| CY2022Q4 | fil |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.14 | |
| CY2020Q4 | fil |
Warrants Outstanding Number Of Options
WarrantsOutstandingNumberOfOptions
|
8834641 | shares |
| CY2021 | fil |
Warrants Outstanding Number Of Options Issued
WarrantsOutstandingNumberOfOptionsIssued
|
0 | shares |
| CY2021 | fil |
Warrants Outstanding Number Of Options Exercised
WarrantsOutstandingNumberOfOptionsExercised
|
0 | shares |
| CY2021 | fil |
Warrants Outstanding Number Of Options Expired
WarrantsOutstandingNumberOfOptionsExpired
|
-4115000 | shares |
| CY2021Q4 | fil |
Warrants Outstanding Number Of Options
WarrantsOutstandingNumberOfOptions
|
4719641 | shares |
| CY2020Q4 | fil |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.29 | |
| CY2021 | fil |
Warrants Weighted Average Exercise Price Issued
WarrantsWeightedAverageExercisePriceIssued
|
0 | |
| CY2021 | fil |
Warrants Weighted Average Exercise Price Exercised
WarrantsWeightedAverageExercisePriceExercised
|
0 | |
| CY2021 | fil |
Warrants Weighted Average Exercise Price Expired
WarrantsWeightedAverageExercisePriceExpired
|
0.38 | |
| CY2021Q4 | fil |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.22 | |
| CY2019Q4 | fil |
Warrants Outstanding Number Of Options
WarrantsOutstandingNumberOfOptions
|
8876250 | shares |
| CY2020 | fil |
Warrants Outstanding Number Of Options Issued
WarrantsOutstandingNumberOfOptionsIssued
|
4219641 | shares |
| CY2020 | fil |
Warrants Outstanding Number Of Options Exercised
WarrantsOutstandingNumberOfOptionsExercised
|
0 | shares |
| CY2020 | fil |
Warrants Outstanding Number Of Options Expired
WarrantsOutstandingNumberOfOptionsExpired
|
-4261250 | shares |
| CY2020Q4 | fil |
Warrants Outstanding Number Of Options
WarrantsOutstandingNumberOfOptions
|
8834641 | shares |
| CY2019Q4 | fil |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.46 | |
| CY2020 | fil |
Warrants Weighted Average Exercise Price Issued
WarrantsWeightedAverageExercisePriceIssued
|
0.20 | |
| CY2020 | fil |
Warrants Weighted Average Exercise Price Exercised
WarrantsWeightedAverageExercisePriceExercised
|
0 | |
| CY2020 | fil |
Warrants Weighted Average Exercise Price Expired
WarrantsWeightedAverageExercisePriceExpired
|
0.55 | |
| CY2020Q4 | fil |
Warrants Weighted Average Exercise Price
WarrantsWeightedAverageExercisePrice
|
0.29 | |
| CY2022 | ifrs-full |
Disclosure Of Related Party Explanatory
DisclosureOfRelatedPartyExplanatory
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<p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Arial;margin-left:0pt"><b>9. </b></kbd><kbd style="margin-left:18pt"></kbd><b>RELATED PARTY TRANSACTIONS AND BALANCES</b> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The aggregate value of transactions and outstanding balances relating to key management personnel and entities over which they have control or significant influence were as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse;width:524.35pt"><tr style="height:1pt"><td style="background-color:#FFFFFF;width:99.25pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td colspan="7" style="background-color:#FFFFFF;width:425.1pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:55.05pt;text-align:center">For the year ended December 31, 2022</p> </td></tr> <tr style="height:1pt"><td style="background-color:#FFFFFF;width:99.25pt;border:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Short-term employee benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Post-employment benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Other long-term benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Termination benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Other expenses</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Share-based payments</p> </td><td style="background-color:#FFFFFF;width:53.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Total</p> </td></tr> <tr style="height:1pt"><td style="width:99.25pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Paul W. Kuhn <span style="vertical-align:super">(d)</span><br/>Chief Executive Officer, Director </p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 153.424</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td><td style="width:53.1pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 165,884</p> </td></tr> <tr style="height:1pt"><td style="width:99.25pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Winnie Wong</p> <p style="font:8pt Arial;margin:0">Chief Financial Officer</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td><td style="width:53.1pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td></tr> <tr style="height:1pt"><td style="width:99.25pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Mark T. Brown</p> <p style="font:8pt Arial;margin:0">Director</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td><td style="width:53.1pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td></tr> <tr style="height:1pt"><td style="width:99.25pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="middle"><p style="font:8pt Arial;margin:0">Paul L. Nelles <span style="vertical-align:super">(c)</span><br/>Director</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td><td style="width:53.1pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td></tr> <tr style="height:1pt"><td style="width:99.25pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="middle"><p style="font:8pt Arial;margin:0">Paul Dircksen</p> <p style="font:8pt Arial;margin:0">Director</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td><td style="width:53.1pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td></tr> <tr style="height:1pt"><td style="width:99.25pt;border-left:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Frank Hogel<br/>Director </p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ Nil</p> </td><td style="width:62pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td><td style="width:53.1pt;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:right">$ 12,460</p> </td></tr> </table> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;margin-right:9pt;text-align:center">For the year ended December 31, 2021</p> <table style="margin:0 auto;border-collapse:collapse;width:524.35pt"><tr style="height:1pt"><td style="background-color:#FFFFFF;width:99.25pt;border:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Short-term employee benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Post-employment benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Other long-term benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Termination benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Other expenses</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Share-based payments</p> </td><td style="background-color:#FFFFFF;width:53.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Total</p> </td></tr> <tr style="height:1pt"><td style="background-color:#FFFFFF;width:99.25pt;border:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Paul W. Kuhn <span style="vertical-align:super">(d)</span><br/>Chief Executive Officer, Director </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ 150,000 </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:53.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ 150,000 </p> </td></tr> </table> <p style="font:10pt Arial;margin:0;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;margin-right:9pt;text-align:center">For the year ended December 31, 2020</p> <table style="margin:0 auto;border-collapse:collapse;width:524.35pt"><tr style="height:1pt"><td style="background-color:#FFFFFF;width:99.25pt;border:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0"> </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Short-term employee benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Post-employment benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Other long-term benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Termination benefits</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Other expenses</p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Share-based payments</p> </td><td style="background-color:#FFFFFF;width:53.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">Total</p> </td></tr> <tr style="height:1pt"><td style="background-color:#FFFFFF;width:99.25pt;border:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0">Paul W. Kuhn <span style="vertical-align:super">(d)</span><br/>Chief Executive Officer, Director </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ 150,000 </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:62pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ Nil </p> </td><td style="background-color:#FFFFFF;width:53.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000;border-right:0.5pt solid #000000" valign="bottom"><p style="font:8pt Arial;margin:0;text-align:center">$ 150,000 </p> </td></tr> </table> <kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(d)</kbd>On June 1, 2019, the Company entered into a Contract for Services (the “Contract”) with a contractor to serve as the Company’s president and chief executive officer. The contractor is responsible for providing technical oversight and guidance, establishing corporate goals and objectives and setting and implementing corporate strategies. Pursuant to the Contract: <kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>The contractor will receive a fee of $12,500 per month and a rent allowance of €4,000 for the first four months; <kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>If the Company is substantially sold or has a change of control (as defined), the contractor will receive a payment equal to two years of fees; and <kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>The contract remains effective until terminated in writing by either the Company or the contractor. The Company may terminate the contract at any time without notice or payment in lieu thereof for cause or at any time without cause by providing six months’ written notice or by paying the contractor in lieu of notice. The contractor may terminate the contract at any time by providing the Company with three months’ written notice. <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">During fiscal 2022, Paul Kuhn received an additional €2,500 ($3,424) for his consulting work in Kosovo as a result of past services.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(e)</kbd>On February 28, 2022, the Company settled $75,000 of this amount by issuing 1,000,000 shares (Note 8(c)). </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(f)</kbd>This amount relates to PorMining paying Paul Kuhn for his technical services consulting in excess of the Contract (defined above in Note 9(d)). Such amount will be used to offset and reduce the Company's monthly fee payable to Paul Kuhn per the Contract. </p> | |
| CY2022 | fil |
Related Party Liability Amount During Period
RelatedPartyLiabilityAmountDuringPeriod
|
313479 | cad |
| CY2021 | fil |
Related Party Liability Amount During Period
RelatedPartyLiabilityAmountDuringPeriod
|
244200 | cad |
| CY2020 | fil |
Related Party Liability Amount During Period
RelatedPartyLiabilityAmountDuringPeriod
|
298435 | cad |
| CY2022Q4 | fil |
Related Party Liability
RelatedPartyLiability
|
108006 | cad |
| CY2021Q4 | fil |
Related Party Liability
RelatedPartyLiability
|
671019 | cad |
| CY2022 | ifrs-full |
Disclosure Of Debt Securities Explanatory
DisclosureOfDebtSecuritiesExplanatory
|
<p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Arial;margin-left:0pt"><b>10.</b></kbd><kbd style="margin-left:18pt"></kbd><b>LONG-TERM LOAN</b> </p> <p style="font:10pt Arial;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">In March 2017, the Company entered into a long-term loan to purchase a used vehicle. The long-term loan was fully paid as of December 31, 2022.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="border-collapse:collapse;width:492.1pt;margin-left:23.4pt"><tr style="height:19.15pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td colspan="2" style="width:135.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">December 31, 2022</p> </td><td colspan="2" style="width:135.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center">December 31, 2021</p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"></td><td style="width:67.9pt" valign="bottom"></td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:67.9pt" valign="bottom"></td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0">Long-term loan</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ -</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ 2,524</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ 1,754</p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0">Less: current portion of long-term loan</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">2,524</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">1,754</p> </td></tr> <tr style="height:13.5pt"><td style="width:220.5pt" valign="bottom"></td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ -</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ -</p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0">Payment schedule of long-term loan</p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:67.9pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:15.95pt">Year 1</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ -</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ 2,572</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ 1,787</p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">2,572</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">1,787</p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0">Less: imputed interest</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">31</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">21</p> </td></tr> <tr style="height:12.75pt"><td style="width:220.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-left:25.9pt">Other fees</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">17</p> </td><td style="width:67.9pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">12</p> </td></tr> <tr style="height:13.5pt"><td style="width:220.5pt" valign="bottom"></td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ -</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ -</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">$ 2,524</p> </td><td style="width:67.9pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">€ 1,754</p> </td></tr> </table> | |
| CY2022Q4 | fil |
Long Term Loan Gross Amount
LongTermLoanGrossAmount
|
0 | cad |
| CY2021Q4 | fil |
Long Term Loan Gross Amount
LongTermLoanGrossAmount
|
2524 | cad |
| CY2022Q4 | fil |
Current Portion Of Long Term Loan
CurrentPortionOfLongTermLoan
|
0 | cad |
| CY2021Q4 | fil |
Current Portion Of Long Term Loan
CurrentPortionOfLongTermLoan
|
2524 | cad |
| CY2022Q4 | fil |
Long Term Loan Less Current Portion
LongTermLoanLessCurrentPortion
|
0 | cad |
| CY2021Q4 | fil |
Long Term Loan Less Current Portion
LongTermLoanLessCurrentPortion
|
0 | cad |
| CY2022Q4 | fil |
Long Term Loan Payment Schedule Year1
LongTermLoanPaymentScheduleYear1
|
0 | cad |
| CY2021Q4 | fil |
Long Term Loan Payment Schedule Year1
LongTermLoanPaymentScheduleYear1
|
2572 | cad |
| CY2022Q4 | fil |
Long Term Loan Imputed Interest
LongTermLoanImputedInterest
|
0 | cad |
| CY2021Q4 | fil |
Long Term Loan Imputed Interest
LongTermLoanImputedInterest
|
31 | cad |
| CY2022Q4 | fil |
Long Term Loan Other Fees
LongTermLoanOtherFees
|
0 | cad |
| CY2021Q4 | fil |
Long Term Loan Other Fees
LongTermLoanOtherFees
|
17 | cad |
| CY2022Q4 | fil |
Long Term Loan Less Imputed Interest
LongTermLoanLessImputedInterest
|
0 | cad |
| CY2021Q4 | fil |
Long Term Loan Less Imputed Interest
LongTermLoanLessImputedInterest
|
2524 | cad |
| CY2022 | ifrs-full |
Disclosure Of Earnings Per Share Explanatory
DisclosureOfEarningsPerShareExplanatory
|
<p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Arial;margin-left:0pt"><b>11.</b></kbd><kbd style="margin-left:18pt"></kbd><b>EARNINGS (LOSS) PER SHARE</b> </p> <p style="font:11pt Times New Roman;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"><i>Basic and diluted earnings (loss) per share</i></p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The calculation of basic and diluted loss per share for the year ended December 31, 2022 was based on the loss attributable to common shareholders of $329,789 (2021 – $5,997; 2020 – $138,911) and a weighted average number of common shares outstanding of 51,116,744 (2021 – 32,738,087; 2020 – 29,313,952).</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Diluted loss per share did not include the effect of 2,080,750 share purchase options, 20,886,308 warrants and 412,500 finder’s options outstanding at year end (2021 - 833,250 share purchase options and 4,719,641 warrants; 2020 - 1,227,000 share purchase options and 8,834,641 warrants) as they are anti-dilutive.</p> | |
| CY2022 | fil |
Income Loss Attributable To Common Shareholders
IncomeLossAttributableToCommonShareholders
|
329789 | cad |
| CY2021 | fil |
Income Loss Attributable To Common Shareholders
IncomeLossAttributableToCommonShareholders
|
5997 | cad |
| CY2020 | fil |
Income Loss Attributable To Common Shareholders
IncomeLossAttributableToCommonShareholders
|
138911 | cad |
| CY2022 | ifrs-full |
Weighted Average Shares
WeightedAverageShares
|
51116744 | shares |
| CY2021 | ifrs-full |
Weighted Average Shares
WeightedAverageShares
|
32738087 | shares |
| CY2020 | ifrs-full |
Weighted Average Shares
WeightedAverageShares
|
29313952 | shares |
| CY2022 | fil |
Share Purchase Optioins Not Included In Dilution
SharePurchaseOptioinsNotIncludedInDilution
|
2080750 | shares |
| CY2022 | fil |
Warrants Outstanding Not Included In Dilution
WarrantsOutstandingNotIncludedInDilution
|
20886308 | shares |
| CY2022 | fil |
Finder S Options Not Included In Dilution
FinderSOptionsNotIncludedInDilution
|
412500 | shares |
| CY2021 | fil |
Share Purchase Optioins Not Included In Dilution
SharePurchaseOptioinsNotIncludedInDilution
|
833250 | shares |
| CY2021 | fil |
Warrants Outstanding Not Included In Dilution
WarrantsOutstandingNotIncludedInDilution
|
4719641 | shares |
| CY2020 | fil |
Share Purchase Optioins Not Included In Dilution
SharePurchaseOptioinsNotIncludedInDilution
|
1227000 | shares |
| CY2020 | fil |
Warrants Outstanding Not Included In Dilution
WarrantsOutstandingNotIncludedInDilution
|
8834641 | shares |
| CY2022 | ifrs-full |
Disclosure Of Financial Instruments Explanatory
DisclosureOfFinancialInstrumentsExplanatory
|
<p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Arial;margin-left:0pt"><b>12.</b></kbd><kbd style="margin-left:18pt"></kbd><b>FINANCIAL INSTRUMENTS</b> </p> <p style="font:10pt Times New Roman;margin:0;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The fair values of the Company’s cash, other receivables, advance to related party, due from optionee, property deposits, accounts payables and accrued liabilities and due to related parties approximate their carrying values because of the short-term nature of these instruments.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The Company’s financial instruments are exposed to certain financial risks, including credit risk, liquidity risk, interest risk, commodity price risk and currency risk.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(a)</kbd>Credit risk </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company’s cash is held in financial institutions in Canada, Portugal and Kosovo and property deposits are held by Portuguese regulatory authorities. Amounts are receivable from optionee and a related party.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(b)</kbd>Liquidity risk </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company manages liquidity risk through the management of its capital structure.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">As at December 31, 2022, the Company had cash of $307,531 (December 31, 2021 - $139,164), advance to related party of $22,323 (December 31, 2021 - $Nil), sales tax receivables of $3,627 (December 31, 2021 - $1,769) and other receivables of $10,713 (December 31, 2021 - $7,226) to settle current liabilities of $208,936 (December 31, 2021 - $803,562).</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Accounts payable and accrued liabilities are due within the current operating period.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(c)</kbd>Interest rate risk </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">Interest rate risk is not material as the Company does not have any significant financial assets or liabilities subject to fluctuation in interest rates.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(d)</kbd>Equity market price risk </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company is exposed to price risk with respect to equity market prices. Price risk as it relates to the Company is defined as the potential adverse impact on the Company’s ability to finance due to movements in individual equity prices or general movements in the level of the stock market. The Company closely monitors individual equity movements and the stock market to determine the appropriate course of action to be taken by the Company.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt">(e)</kbd>Currency risk </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify">The Company’s property interests in Portugal, Finland and Kosovo make it subject to foreign currency fluctuations and inflationary pressures which may adversely affect the Company’s financial position, results of operations and cash flows. The Company is affected by changes in exchange rates between the Canadian Dollar and foreign functional currencies. The Company does not invest in foreign currency contracts to mitigate the risks. The Company has net monetary assets of $130,200 dominated in Euros. A 1% change in the absolute rate of exchange in US dollars and Euros would affect its net income by $1,000.</p> <p style="font:10pt Arial;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">IFRS 7 establishes a fair value hierarchy that prioritizes the input to valuation techniques used to measure fair value as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities;</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The following table sets forth the Company’s financial assets classified as subsequently measured at amortized cost as at December 31, 2021 and 2020.</p> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;text-indent:-3.55pt;margin-left:21.55pt;text-align:justify">The Company does not have any financial instruments that are measured at fair value.</p> | |
| CY2022Q4 | ifrs-full |
Cash
Cash
|
307531 | cad |
| CY2021Q4 | ifrs-full |
Cash
Cash
|
139164 | cad |
| CY2022Q4 | us-gaap |
Related Party Transaction Due From To Related Party Current
RelatedPartyTransactionDueFromToRelatedPartyCurrent
|
22323 | cad |
| CY2021Q4 | us-gaap |
Related Party Transaction Due From To Related Party Current
RelatedPartyTransactionDueFromToRelatedPartyCurrent
|
0 | cad |
| CY2022Q4 | ifrs-full |
Value Added Tax Receivables
ValueAddedTaxReceivables
|
3627 | cad |
| CY2021Q4 | ifrs-full |
Value Added Tax Receivables
ValueAddedTaxReceivables
|
1769 | cad |
| CY2022Q4 | ifrs-full |
Other Receivables
OtherReceivables
|
10713 | cad |
| CY2021Q4 | ifrs-full |
Other Receivables
OtherReceivables
|
7226 | cad |
| CY2022Q4 | ifrs-full |
Current Liabilities
CurrentLiabilities
|
208936 | cad |
| CY2021Q4 | ifrs-full |
Current Liabilities
CurrentLiabilities
|
803562 | cad |
| CY2022 | ifrs-full |
Disclosure Of Cash Flow Statement Explanatory
DisclosureOfCashFlowStatementExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>13.</b></kbd><b>SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS</b> </p> <p style="font:10pt Times New Roman;margin:0"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The non-cash transactions during the years ended December 31, 2022, 2021 and 2020 were as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:31.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>As at December 31, 2022, a total of $Nil (2021 - $Nil; 2020 - $1,805) in share issue costs were included in accounts payable and accrued liabilities and $Nil (2021 - $74,550; 2020 - $74,550) were included in due to related parties. </p> | |
| CY2022Q4 | fil |
Share Issue Costs Included In Accounts Payable
ShareIssueCostsIncludedInAccountsPayable
|
0 | cad |
| CY2021Q4 | fil |
Share Issue Costs Included In Accounts Payable
ShareIssueCostsIncludedInAccountsPayable
|
0 | cad |
| CY2020Q4 | fil |
Share Issue Costs Included In Accounts Payable
ShareIssueCostsIncludedInAccountsPayable
|
1805 | cad |
| CY2022Q4 | fil |
Share Issue Costs Included In Due To Related Parties
ShareIssueCostsIncludedInDueToRelatedParties
|
0 | cad |
| CY2021Q4 | fil |
Share Issue Costs Included In Due To Related Parties
ShareIssueCostsIncludedInDueToRelatedParties
|
74550 | cad |
| CY2020Q4 | fil |
Share Issue Costs Included In Due To Related Parties
ShareIssueCostsIncludedInDueToRelatedParties
|
74550 | cad |
| CY2022 | ifrs-full |
Disclosure Of Financial Risk Management Explanatory
DisclosureOfFinancialRiskManagementExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>14.</b></kbd><b>MANAGEMENT OF CAPITAL RISK</b> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The Company manages its cash, common shares, warrants and share purchase options as capital (see Note 8). The Company’s objectives when managing capital are to safeguard its ability to continue as a going concern and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The Company manages the capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust the capital structure, the Company may attempt to issue new shares, acquire or dispose of assets or adjust the amount of cash and cash equivalents held.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">In order to maximize ongoing operating efforts, the Company does not pay out dividends. The Company’s investment policy is to invest its short-term excess cash in highly liquid short-term interest-bearing investments with maturities of 90 days or less from the original date of acquisition, selected with regards to the expected timing of expenditures from continuing operations.</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The Company expects its current capital resources will be sufficient to carry out its exploration or operations in the near term.</p> | |
| CY2022 | ifrs-full |
Disclosure Of Income Tax Explanatory
DisclosureOfIncomeTaxExplanatory
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<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>15.</b></kbd><b>INCOME TAX</b> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">A reconciliation of income taxes at statutory rates is as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt"> </p> <table style="margin:0 auto;border-collapse:collapse"><tr style="height:1pt"><td style="width:202.1pt" valign="bottom"></td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:right"> </p> </td><td style="width:84.9pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:12.2pt;text-align:right">2022</p> </td><td style="width:84.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:12.2pt;text-align:right">2021</p> </td><td style="width:84.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:12.2pt;text-align:right">2020</p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:right"> </p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:right"> </p> </td><td style="width:84.9pt;border-top:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:84.5pt;border-top:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:84.5pt;border-top:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt">Net loss</p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:78pt">(329,789)</kbd> </p> </td><td style="width:84.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:77pt">(5,997)</kbd> </p> </td><td style="width:84.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:77pt">(138,911)</kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt"> </p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt">Expected income tax recovery</p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:78pt">(89,000)</kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:77pt">(2,000)</kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:77pt">(37,000)</kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt">Effect of foreign tax rate</p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:78pt">(10,000)</kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">(24,000)</kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">(16,000)</kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt">Non-deductible items</p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:78pt">(22,000)</kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">4,000 </kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">1,000 </kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt">Deductible items</p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:78pt">(16,000)</kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">- </kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">(6,000)</kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-0.4pt;margin-left:5.5pt">Unrecognized benefit of non-capital losses</p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:78pt">137,000 </kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">22,000 </kbd> </p> </td><td style="width:84.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:77pt">58,000 </kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:43.2pt"> </p> </td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:84.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:84.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:1pt"><td style="width:202.1pt" valign="bottom"></td><td style="width:1pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:84.9pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:78pt">- </kbd> </p> </td><td style="width:84.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:77pt">- </kbd> </p> </td><td style="width:84.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:77pt">- </kbd> </p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The significant components of the Company’s deferred income tax assets are as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse"><tr style="height:1pt"><td style="width:247.5pt" valign="bottom"></td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:right"> </p> </td><td style="width:98pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:12.2pt;text-align:right">2022</p> </td><td style="width:5.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:center"> </p> </td><td style="width:98pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:12.2pt;text-align:right">2021</p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:right"> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;margin-right:7.2pt;text-align:right"> </p> </td><td style="width:98pt;border-top:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:5.5pt;border-top:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt;border-top:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt">Deferred income tax assets</p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt"> Non-capital loss carryforwards</p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:91pt">2,196,000 </kbd> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:91pt">2,045,000 </kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt"> Allowable capital losses</p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">45,000 </kbd> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">9,000 </kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-16.5pt;margin-left:22pt"> Share issue costs</p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">18,000 </kbd> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">12,000 </kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"></td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">2,259,000 </kbd> </p> </td><td style="width:5.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">2,066,000 </kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-0.4pt;margin-left:5.5pt">Valuation allowance</p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">(2,259,000)</kbd> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;text-align:right;font:10pt Times New Roman;width:91pt">(2,066,000)</kbd> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-38.7pt;margin-left:43.2pt"> </p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:5.5pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:1pt"><td style="width:247.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-38.7pt;margin-left:43.2pt">Net deferred income tax assets</p> </td><td style="width:5.5pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-indent:-21.6pt;margin-left:21.6pt"> </p> </td><td style="width:98pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:91pt">- </kbd> </p> </td><td style="width:5.5pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:98pt;border-bottom:1.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0"><kbd style="position:absolute;font:10pt Times New Roman;margin-left:7pt">$</kbd><kbd style="position:absolute;text-align:right;font:10pt Arial;width:91pt">- </kbd> </p> </td></tr> </table> <p style="font:10pt Arial;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The Company has available for deduction against future taxable income non-capital losses of approximately $8,132,500 in Canada (2021 - $7,574,500). These losses, if not utilized, will expire through to 2042. Tax benefits which may arise as a result of these non-capital losses have not been recognized in these consolidated financial statements and have been offset by a valuation allowance. The following table shows the non-capital losses in Canada:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="margin:0 auto;border-collapse:collapse"><tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"><b>Year of Origin</b></p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"><b>Year of Expiry</b></p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center"><b>Non-capital losses</b></p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center"> </p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center"> </p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2008</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2028</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">$ 10,500</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2009</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2029</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">45,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2010</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2030</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">38,500</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2010</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2030</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">325,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2011</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2031</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">51,500</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2012</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2032</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">798,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2013</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2033</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">606,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2014</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2034</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">921,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2015</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2035</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">837,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2016</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2036</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">1,007,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2017</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2037</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">854,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2018</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2038</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">657,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2019</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2039</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">504,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2020</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2040</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">476,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2021</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2041</p> </td><td style="width:143.7pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">444,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2022</p> </td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:center">2042</p> </td><td style="width:143.7pt;border-bottom:1.5pt solid #000000" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">558,000</p> </td></tr> <tr><td style="width:84.65pt" valign="top"></td><td style="width:82.2pt" valign="top"><p style="font:10pt Arial;margin:0;text-align:justify"> </p> </td><td style="width:143.7pt;border-top:0.5pt solid #000000;border-bottom:1.5pt solid #000000" valign="top"><p style="font:10pt Arial;margin:0;text-align:right">$ 8,132,500 </p> </td></tr> </table> | |
| CY2022 | ifrs-full |
Profit Loss
ProfitLoss
|
-329789 | cad |
| CY2021 | ifrs-full |
Profit Loss
ProfitLoss
|
-5997 | cad |
| CY2020 | ifrs-full |
Profit Loss
ProfitLoss
|
-138911 | cad |
| CY2022 | fil |
Expected Income Tax Recovery
ExpectedIncomeTaxRecovery
|
89000 | cad |
| CY2021 | fil |
Expected Income Tax Recovery
ExpectedIncomeTaxRecovery
|
2000 | cad |
| CY2020 | fil |
Expected Income Tax Recovery
ExpectedIncomeTaxRecovery
|
37000 | cad |
| CY2022 | ifrs-full |
Tax Effect Of Foreign Tax Rates
TaxEffectOfForeignTaxRates
|
-10000 | cad |
| CY2021 | ifrs-full |
Tax Effect Of Foreign Tax Rates
TaxEffectOfForeignTaxRates
|
-24000 | cad |
| CY2020 | ifrs-full |
Tax Effect Of Foreign Tax Rates
TaxEffectOfForeignTaxRates
|
-16000 | cad |
| CY2022 | fil |
Non Deductible Items
NonDeductibleItems
|
22000 | cad |
| CY2021 | fil |
Non Deductible Items
NonDeductibleItems
|
-4000 | cad |
| CY2020 | fil |
Non Deductible Items
NonDeductibleItems
|
-1000 | cad |
| CY2022 | fil |
Deductible Items
DeductibleItems
|
16000 | cad |
| CY2021 | fil |
Deductible Items
DeductibleItems
|
0 | cad |
| CY2020 | fil |
Deductible Items
DeductibleItems
|
6000 | cad |
| CY2022 | fil |
Unrecognized Benefit Of Non Capital Losses
UnrecognizedBenefitOfNonCapitalLosses
|
-137000 | cad |
| CY2021 | fil |
Unrecognized Benefit Of Non Capital Losses
UnrecognizedBenefitOfNonCapitalLosses
|
-22000 | cad |
| CY2020 | fil |
Unrecognized Benefit Of Non Capital Losses
UnrecognizedBenefitOfNonCapitalLosses
|
-58000 | cad |
| CY2022 | fil |
Income Taxes At Statutory
IncomeTaxesAtStatutory
|
0 | cad |
| CY2021 | fil |
Income Taxes At Statutory
IncomeTaxesAtStatutory
|
0 | cad |
| CY2020 | fil |
Income Taxes At Statutory
IncomeTaxesAtStatutory
|
0 | cad |
| CY2022Q4 | fil |
Non Capital Loss Carryforwards
NonCapitalLossCarryforwards
|
2196000 | cad |
| CY2021Q4 | fil |
Non Capital Loss Carryforwards
NonCapitalLossCarryforwards
|
2045000 | cad |
| CY2022Q4 | fil |
Allowable Capital Losses
AllowableCapitalLosses
|
45000 | cad |
| CY2021Q4 | fil |
Allowable Capital Losses
AllowableCapitalLosses
|
9000 | cad |
| CY2022Q4 | fil |
Share Issue Costs
ShareIssueCosts
|
18000 | cad |
| CY2021Q4 | fil |
Share Issue Costs
ShareIssueCosts
|
12000 | cad |
| CY2022Q4 | ifrs-full |
Deferred Tax Assets
DeferredTaxAssets
|
2259000 | cad |
| CY2021Q4 | ifrs-full |
Deferred Tax Assets
DeferredTaxAssets
|
2066000 | cad |
| CY2022Q4 | fil |
Valuation Allowance
ValuationAllowance
|
-2259000 | cad |
| CY2021Q4 | fil |
Valuation Allowance
ValuationAllowance
|
-2066000 | cad |
| CY2022Q4 | ifrs-full |
Net Deferred Tax Assets
NetDeferredTaxAssets
|
0 | cad |
| CY2021Q4 | ifrs-full |
Net Deferred Tax Assets
NetDeferredTaxAssets
|
0 | cad |
| CY2022Q4 | fil |
Non Capital Losses Year Of Expiry
NonCapitalLossesYearOfExpiry
|
8132500 | pure |
| CY2022 | ifrs-full |
Disclosure Of Operating Segments Explanatory
DisclosureOfOperatingSegmentsExplanatory
|
<p style="font:10pt Arial;margin:0;margin-left:18pt"><kbd style="position:absolute;font:10pt Arial;margin-left:-18pt"><b>16.</b></kbd><b>SEGMENTED FINANCIAL INFORMATION</b> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify">The Company operates in one industry segment, being the acquisition and exploration of mineral properties. Geographic information is as follows:</p> <p style="font:10pt Arial;margin:0;margin-left:18pt;text-align:justify"> </p> <table style="border-collapse:collapse;width:490.5pt;margin-left:23.4pt"><tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td colspan="2" style="width:216pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center"><b>Years ended</b></p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"></td><td style="width:108pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"><b> December 31, 2022</b></p> </td><td style="width:108pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"><b> December 31, 2021</b></p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0">Non-current assets</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> Portugal</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 213,934</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 213,415</p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> Finland</p> </td><td style="width:108pt" valign="middle"><p style="font:10pt Arial;margin:0;text-align:right">540,932</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">14,155</p> </td></tr> <tr style="height:13.5pt"><td style="width:274.5pt" valign="bottom"></td><td style="width:108pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 754,866</p> </td><td style="width:108pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 227,570</p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td colspan="2" style="width:216pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:center"><b>Years ended</b></p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> </p> </td><td style="width:108pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"><b>December 31, 2022</b></p> </td><td style="width:108pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"><b>December 31, 2021</b></p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0">Mineral exploration expenses</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right"> </p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> Portugal</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 25,651</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 24,952</p> </td></tr> <tr style="height:12.75pt"><td style="width:274.5pt" valign="bottom"><p style="font:10pt Arial;margin:0"> Kosovo</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">46,678</p> </td><td style="width:108pt" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">-</p> </td></tr> <tr style="height:13.5pt"><td style="width:274.5pt" valign="bottom"></td><td style="width:108pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 72,329</p> </td><td style="width:108pt;border-top:0.5pt solid #000000;border-bottom:1pt solid #000000" valign="bottom"><p style="font:10pt Arial;margin:0;text-align:right">$ 24,952</p> </td></tr> </table> |
