$LITM
Snow Lake Resources Ltd.

2024 Q2 Form 20-F Financial Statement

#000109690624002043 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.719M $5.719M
YoY Change -64.37% -64.37%
% of Gross Profit
Research & Development $41.07K 41.07K cads
YoY Change 242.25% 242.22%
% of Gross Profit
Depreciation & Amortization $15.84K $31.68K
YoY Change 500.0%
% of Gross Profit
Operating Expenses $5.792M 41.07K cads
YoY Change -63.95% 242.22%
Operating Profit
YoY Change
Interest Expense $2.377M 5.805M cads
YoY Change 312.03% -63.9%
% of Operating Profit
Other Income/Expense, Net $1.160M $1.160M
YoY Change 956.61% 954.21%
Pretax Income -$6.851M -$6.851M
YoY Change -55.45% -55.46%
Income Tax
% Of Pretax Income
Net Earnings -$6.851M 6.851M cads
YoY Change -55.45% -55.45%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.34 -$0.34
COMMON SHARES
Basic Shares Outstanding 25.77M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.527M $2.527M
YoY Change -34.21% -34.19%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $706.6K $706.6K
YoY Change -20.05% -19.7%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.274M $3.274M
YoY Change -33.4% -33.45%
LONG-TERM ASSETS
Property, Plant & Equipment $26.64M $26.64M
YoY Change 23.9% 23.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets 26.64M cads $26.64M
YoY Change 23.9% 23.92%
TOTAL ASSETS
Total Short-Term Assets $3.274M $3.274M
Total Long-Term Assets 26.64M cads $26.64M
Total Assets 29.92M cads $29.92M
YoY Change 13.24% 13.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $470.2K $470.2K
YoY Change -54.09% -34.7%
Accrued Expenses $219.8K $219.8K
YoY Change -26.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $31.11K $31.11K
YoY Change 3.98% 3.7%
Total Short-Term Liabilities $1.941M $1.941M
YoY Change -50.02% -36.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $2.478M $2.478M
YoY Change
Total Long-Term Liabilities $2.478M $2.478M
YoY Change 7863.74% 8158.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.941M $1.941M
Total Long-Term Liabilities $2.478M $2.478M
Total Liabilities 4.419M cads $4.419M
YoY Change 42.81% 43.0%
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 $25.50M $25.50M
YoY Change
Total Liabilities & Shareholders Equity $29.92M $29.92M
YoY Change 13.24% 13.23%

Cashflow Statement

Concept 2024 Q2 2024
OPERATING ACTIVITIES
Net Income -$6.851M 6.851M cads
YoY Change -55.45% -55.45%
Depreciation, Depletion And Amortization $15.84K $31.68K
YoY Change 500.0%
Cash From Operating Activities -$1.443M -$3.742M
YoY Change -66.74% -63.67%
INVESTING ACTIVITIES
Capital Expenditures $2.302M $4.481M
YoY Change -52.75% -52.63%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.302M -$4.481M
YoY Change -52.75% -52.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.92K 6.910M
YoY Change -16.1% -3736.64%
NET CHANGE
Cash From Operating Activities -1.443M -3.742M
Cash From Investing Activities -2.302M -4.481M
Cash From Financing Activities -17.92K 6.910M
Net Change In Cash -3.763M -1.314M
YoY Change -59.24% -93.41%
FREE CASH FLOW
Cash From Operating Activities -$1.443M -$3.742M
Capital Expenditures $2.302M $4.481M
Free Cash Flow -$3.745M -$8.224M
YoY Change -59.34% -58.38%

Facts In Submission

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Snow Lake Resources Ltd.
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CY2022 ifrs-full Adjustments For Sharebased Payments
AdjustmentsForSharebasedPayments
8035506 cad
CY2024 ifrs-full Adjustments For Unrealised Foreign Exchange Losses Gains
AdjustmentsForUnrealisedForeignExchangeLossesGains
12235 cad
CY2023 ifrs-full Adjustments For Unrealised Foreign Exchange Losses Gains
AdjustmentsForUnrealisedForeignExchangeLossesGains
-812 cad
CY2022 ifrs-full Adjustments For Unrealised Foreign Exchange Losses Gains
AdjustmentsForUnrealisedForeignExchangeLossesGains
-14000 cad
CY2024 ifrs-full Adjustments For Reconcile Profit Loss
AdjustmentsForReconcileProfitLoss
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CY2023 ifrs-full Adjustments For Reconcile Profit Loss
AdjustmentsForReconcileProfitLoss
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CY2022 ifrs-full Adjustments For Reconcile Profit Loss
AdjustmentsForReconcileProfitLoss
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CY2024 ifrs-full Income Taxes Paid Refund Classified As Operating Activities
IncomeTaxesPaidRefundClassifiedAsOperatingActivities
140506 cad
CY2023 ifrs-full Income Taxes Paid Refund Classified As Operating Activities
IncomeTaxesPaidRefundClassifiedAsOperatingActivities
112967 cad
CY2022 ifrs-full Income Taxes Paid Refund Classified As Operating Activities
IncomeTaxesPaidRefundClassifiedAsOperatingActivities
-283520 cad
CY2024 ifrs-full Adjustments For Decrease Increase In Prepaid Expenses
AdjustmentsForDecreaseIncreaseInPrepaidExpenses
177238 cad
CY2023 ifrs-full Adjustments For Decrease Increase In Prepaid Expenses
AdjustmentsForDecreaseIncreaseInPrepaidExpenses
66645 cad
CY2022 ifrs-full Adjustments For Decrease Increase In Prepaid Expenses
AdjustmentsForDecreaseIncreaseInPrepaidExpenses
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CY2024 fil Increase Decrease In Due From Related Party
IncreaseDecreaseInDueFromRelatedParty
-10287 cad
CY2023 fil Increase Decrease In Due From Related Party
IncreaseDecreaseInDueFromRelatedParty
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CY2022 fil Increase Decrease In Due From Related Party
IncreaseDecreaseInDueFromRelatedParty
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CY2024 ifrs-full Adjustments For Increase Decrease In Trade Account Payable
AdjustmentsForIncreaseDecreaseInTradeAccountPayable
272526 cad
CY2023 ifrs-full Adjustments For Increase Decrease In Trade Account Payable
AdjustmentsForIncreaseDecreaseInTradeAccountPayable
581531 cad
CY2022 ifrs-full Adjustments For Increase Decrease In Trade Account Payable
AdjustmentsForIncreaseDecreaseInTradeAccountPayable
552249 cad
CY2024 ifrs-full Adjustments For Decrease Increase In Trade Account Receivable
AdjustmentsForDecreaseIncreaseInTradeAccountReceivable
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CY2023 ifrs-full Adjustments For Decrease Increase In Trade Account Receivable
AdjustmentsForDecreaseIncreaseInTradeAccountReceivable
-23658 cad
CY2022 ifrs-full Adjustments For Decrease Increase In Trade Account Receivable
AdjustmentsForDecreaseIncreaseInTradeAccountReceivable
-179655 cad
CY2024 ifrs-full Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
-3742326 cad
CY2023 ifrs-full Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
-10298791 cad
CY2022 ifrs-full Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
-3098972 cad
CY2024 ifrs-full Proceeds From Issue Of Bonds Notes And Debentures
ProceedsFromIssueOfBondsNotesAndDebentures
7707292 cad
CY2023 ifrs-full Proceeds From Issue Of Bonds Notes And Debentures
ProceedsFromIssueOfBondsNotesAndDebentures
0 cad
CY2022 ifrs-full Proceeds From Issue Of Bonds Notes And Debentures
ProceedsFromIssueOfBondsNotesAndDebentures
0 cad
CY2024 ifrs-full Proceeds From Issuing Shares
ProceedsFromIssuingShares
0 cad
CY2023 ifrs-full Proceeds From Issuing Shares
ProceedsFromIssuingShares
0 cad
CY2022 ifrs-full Proceeds From Issuing Shares
ProceedsFromIssuingShares
34988520 cad
CY2024 ifrs-full Payments For Share Issue Costs
PaymentsForShareIssueCosts
215377 cad
CY2023 ifrs-full Payments For Share Issue Costs
PaymentsForShareIssueCosts
0 cad
CY2022 ifrs-full Payments For Share Issue Costs
PaymentsForShareIssueCosts
2995448 cad
CY2024 ifrs-full Repayments Of Borrowings Classified As Financing Activities
RepaymentsOfBorrowingsClassifiedAsFinancingActivities
0 cad
CY2023 ifrs-full Repayments Of Borrowings Classified As Financing Activities
RepaymentsOfBorrowingsClassifiedAsFinancingActivities
201532 cad
CY2022 ifrs-full Repayments Of Borrowings Classified As Financing Activities
RepaymentsOfBorrowingsClassifiedAsFinancingActivities
-193636 cad
CY2024 ifrs-full Proceeds From Exercise Of Options
ProceedsFromExerciseOfOptions
0 cad
CY2023 ifrs-full Proceeds From Exercise Of Options
ProceedsFromExerciseOfOptions
31578 cad
CY2022 ifrs-full Proceeds From Exercise Of Options
ProceedsFromExerciseOfOptions
365114 cad
CY2024 fil Payment On Redemption Of Restricted Share Units
PaymentOnRedemptionOfRestrictedShareUnits
-546476 cad
CY2023 fil Payment On Redemption Of Restricted Share Units
PaymentOnRedemptionOfRestrictedShareUnits
0 cad
CY2022 fil Payment On Redemption Of Restricted Share Units
PaymentOnRedemptionOfRestrictedShareUnits
0 cad
CY2024 fil Payments Made On Lease Deposit
PaymentsMadeOnLeaseDeposit
0 cad
CY2023 fil Payments Made On Lease Deposit
PaymentsMadeOnLeaseDeposit
-18367 cad
CY2022 fil Payments Made On Lease Deposit
PaymentsMadeOnLeaseDeposit
0 cad
CY2024 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
35828 cad
CY2023 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2986 cad
CY2022 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
0 cad
CY2024 ifrs-full Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
6909611 cad
CY2023 ifrs-full Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
-191307 cad
CY2022 ifrs-full Cash Flows From Used In Financing Activities
CashFlowsFromUsedInFinancingActivities
32551822 cad
CY2024 ifrs-full Purchase Of Intangible Assets Classified As Investing Activities
PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities
4481208 cad
CY2023 ifrs-full Purchase Of Intangible Assets Classified As Investing Activities
PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities
9461430 cad
CY2022 ifrs-full Purchase Of Intangible Assets Classified As Investing Activities
PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities
5979286 cad
CY2024 ifrs-full Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
-4481208 cad
CY2023 ifrs-full Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
-9461430 cad
CY2022 ifrs-full Cash Flows From Used In Investing Activities
CashFlowsFromUsedInInvestingActivities
-5979286 cad
CY2024 ifrs-full Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
-1313923 cad
CY2023 ifrs-full Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
-19951528 cad
CY2022 ifrs-full Increase Decrease In Cash And Cash Equivalents
IncreaseDecreaseInCashAndCashEquivalents
23473564 cad
CY2023Q2 ifrs-full Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale
CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
3840880 cad
CY2022Q2 ifrs-full Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale
CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
23792408 cad
CY2021Q2 ifrs-full Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale
CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
318844 cad
CY2024Q2 ifrs-full Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale
CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
2526957 cad
CY2023Q2 ifrs-full Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale
CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
3840880 cad
CY2022Q2 ifrs-full Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale
CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale
23792408 cad
CY2024 ifrs-full Adjustments For Increase Decrease In Other Operating Payables
AdjustmentsForIncreaseDecreaseInOtherOperatingPayables
132859 cad
CY2023 ifrs-full Adjustments For Increase Decrease In Other Operating Payables
AdjustmentsForIncreaseDecreaseInOtherOperatingPayables
388107 cad
CY2022 ifrs-full Adjustments For Increase Decrease In Other Operating Payables
AdjustmentsForIncreaseDecreaseInOtherOperatingPayables
485089 cad
CY2024 fil Fair Value Of Agent S Warrants Issued As Share Issue Costs
FairValueOfAgentSWarrantsIssuedAsShareIssueCosts
139639 cad
CY2023 fil Fair Value Of Agent S Warrants Issued As Share Issue Costs
FairValueOfAgentSWarrantsIssuedAsShareIssueCosts
0 cad
CY2022 fil Fair Value Of Agent S Warrants Issued As Share Issue Costs
FairValueOfAgentSWarrantsIssuedAsShareIssueCosts
0 cad
CY2024 ifrs-full Disclosure Of Going Concern Explanatory
DisclosureOfGoingConcernExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>1. Nature of Operations and Going Concern</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Snow Lake Resources Ltd., d/b/a Snow Lake Energy (“Snow Lake” or the “Company”) was incorporated in the Province of Manitoba, Canada under the Corporations Act (Manitoba) on May 25, 2018. The Company is a Canadian natural resource exploration company engaged in the exploration and development of mineral resources through its subsidiaries: Snow Lake Exploration Ltd., Snow Lake (Crowduck) Ltd., Global Uranium Acquisition Corp. PTY LTD., Snow Lake Exploration (US) Ltd., and Snow Lake Investments (US) Ltd. The corporate and registered office of the Company is 360 Main St, 30<span style="vertical-align:super">th</span> Floor, Winnipeg, Manitoba, R3C 4G1, Canada. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On November 22, 2021, the Company was listed for trading under the NASDAQ Composite under the ticker symbol “LITM”.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Although the Company has taken steps to verify title to the mineral properties in which it has an interest, in accordance with industry standards for the current stage of exploration of such properties, these procedures do not guarantee the Company’s title. Property title may be subject to government licensing requirements or regulations, unregistered prior agreements, undetected defects, unregistered claims, native land claims, and non-compliance with regulatory and environmental requirements.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">For the year ended June 30, 2024, the Company incurred a net loss of $6,850,918 (2023 – $15,462,945; 2022 - $9,446,454) and negative cash flow from operations of $3,742,326 (2023 – $10,298,791; 2022 - $3,098,972), and as at June 30, 2024, the Company had an accumulated deficit of $26,548,238 (June 30, 2023 – $24,695,723; 2022 – $10,545,535). The Company has not yet placed any of its mineral properties into production and, as a result, the Company has no source of operating cash flow. The Company’s ability to continue as a going concern is dependent upon the Company achieving profitable operations to generate sufficient cash flows to fund continuing operations, or, in the absence of adequate cash flows from operations, obtaining additional financing to support operations for the foreseeable future. It is not possible to predict whether financing efforts will be successful or if the Company will attain profitable levels of operations. These conditions, and the unpredictability of the mining business, represent material uncertainties which may cast significant doubt upon the Company’s ability to continue as a going concern.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">These consolidated financial statements have been prepared on the basis that the Company will continue as a going concern, and do not reflect the adjustments to the carrying values of assets and liabilities and the reported revenues and expenses, and classifications of statements of financial position that would be necessary if the Company were unable to realize its assets and settle its liabilities as a going concern in the normal course of operations. Such adjustments could be material.</p>
CY2024 ifrs-full Profit Loss
ProfitLoss
6850918 cad
CY2023 ifrs-full Profit Loss
ProfitLoss
15462945 cad
CY2022 ifrs-full Profit Loss
ProfitLoss
9446454 cad
CY2024 ifrs-full Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
-3742326 cad
CY2023 ifrs-full Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
-10298791 cad
CY2022 ifrs-full Cash Flows From Used In Operating Activities
CashFlowsFromUsedInOperatingActivities
-3098972 cad
CY2024Q2 ifrs-full Retained Earnings
RetainedEarnings
-26548238 cad
CY2023Q2 ifrs-full Retained Earnings
RetainedEarnings
-24695723 cad
CY2022Q2 ifrs-full Retained Earnings
RetainedEarnings
-10545535 cad
CY2024 ifrs-full Disclosure Of Basis Of Consolidation Explanatory
DisclosureOfBasisOfConsolidationExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>2. Basis of Presentation</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>(a) Statement of Compliance</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”). The accounting policies set out below were consistently applied to all periods presented unless otherwise noted.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">These consolidated financial statements were reviewed, approved and authorized for issuance by the Board of Directors (the “Board”) of the Company on October 29, 2024.</p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>2. Basis of Presentation (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>(b) Basis of Measurement </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">These consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments carried at fair value, as explained in the accounting policies as set out in Note 3. 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 stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>(c) Basis of Consolidation</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Subsidiaries consist of entities over which the Company is exposed to, or has rights to, variable returns as well as the ability to affect those returns through the power to direct the relevant activities of the entity. Subsidiaries are fully consolidated from the date control is transferred to the Company and are-deconsolidated from the date control ceases. The consolidated financial statements include all the assets, liabilities, revenues, expenses and cash flows of the Company and its subsidiaries after eliminating inter-entity balances and transactions.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>(d) Functional Currency</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">These consolidated financial statements are presented in Canadian dollars (“$” or “CAD”), which is the Company’s functional currency. The functional currency is the currency of the primary economic environment in which the Company operates.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(e) Significant Accounting Judgments and Estimates</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The preparation of these consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, revenue, and expenses. On an ongoing basis, management evaluates its judgments and estimates in relation to assets, liabilities, revenue, and expenses. Management uses historical experience and various other factors it believes to be reasonable under the given circumstances as the basis for its judgments and estimates. Actual outcomes may differ from these estimates under different assumptions and conditions. These estimates are reviewed periodically, and adjustments are made as appropriate in the period they become known.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Items for which actual results may differ materially from these estimates are described as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Going concern</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">At each reporting period, management exercises judgment in assessing the Company’s ability to continue as a going concern by reviewing the Company’s performance, resources, and future obligations. The conclusion that the Company will be able to continue as a going concern is subject to critical judgments of management with respect to assumptions surrounding the short and long-term operating budgets, expected profitability, investment and financing activities and management’s strategic planning. The assumptions used in management’s going concern assessment are derived from actual operating results along with industry and market trends. Management believes there is sufficient capital to meet the Company’s business obligations for at least the next 12 months, after taking into account expected cash flows, including financing activities, and the Company's cash position at year-end.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>2. Basis of Presentation (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(e) Significant Accounting Judgments and Estimates (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Fair value of financial assets and financial liabilities</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Fair value of financial assets and financial liabilities on the consolidated statements of financial position that cannot be derived from active markets, are determined using a variety of techniques including the use of valuation models. The inputs to these models are derived from observable market data where possible, but where observable market data are not available, judgment is required to establish fair values. Judgments include, but are not limited to, consideration of model inputs such as volatility, estimated life and discount rates.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Economic recoverability of future economic benefits of exploration and evaluation assets</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Management has determined that exploration and evaluation (“E&amp;E”) assets and related costs incurred, which have been recognized on the consolidated statements of financial position, are economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefit including geological data, scoping studies, accessible facilities, and existing and future permits.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Technical feasibility and commercial viability</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Management exercises judgment, in accordance with IFRS 6 – Exploration for and Evaluation of Mineral Resources (“IFRS 6”), to determine an accounting policy specifying which expenditures, if any, are capitalized as E&amp;E assets, and to apply the policy consistently. E&amp;E expenditures not capitalized as E&amp;E assets are expensed as incurred. Once the technical feasibility and commercial viability of extracting a mineral resource are demonstrable, an entity stops recording E&amp;E expenditures for that mineral project, tests capitalized E&amp;E assets (if any) for impairment and reclassifies those E&amp;E assets to other applicable development-stage accounts. An assessment of technical feasibility and commercial viability is conducted on a project-by-project basis with regard to all relevant facts and circumstances. The nature and status of the mineral project is determined on the merits of the mineral project itself.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"><i>Provisions</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Provisions recognized in the consolidated financial statements involve judgments on the occurrence of future events, which could result in a material outlay for the Company. In determining whether an outlay will be material, the Company considers the expected future cash flows based on facts, historical experience and probabilities associated with such future events. Uncertainties exist with respect to estimates made by management and as a result, the actual expenditure may differ from amounts currently reported.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Income taxes</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Income taxes and tax exposures recognized in the consolidated financial statements reflect management’s best estimate of the outcome based on facts known at the reporting date. When the Company anticipates a future income tax payment based on its estimates, it recognizes a liability. The difference between the expected amount and the final tax outcome has an impact on current and deferred taxes when the Company becomes aware of this difference.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">In addition, when the Company incurs losses that cannot be associated with current or past profits, it assesses the probability of taxable profits being available in the future based on its budgeted forecasts. These forecasts are adjusted to take account of certain non-taxable income and expenses and specific rules on the use of unused credits and tax losses. When the forecasts indicate the sufficient future taxable income will be available to deduct the temporary differences, a deferred tax asset is recognized for all deductible temporary differences.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>2. Basis of Presentation (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(e) Significant Accounting Judgments and Estimates (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Options, restricted share units and warrants</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Options, restricted share units (“RSUs”) and warrants, including finders’ warrants, are initially recognized at fair value using market-based valuation techniques. The fair value of the market-based and performance-based share awards are determined at the date of grant using generally accepted valuation techniques. Assumptions are made and judgments are used in applying the valuation techniques. These assumptions and judgments include the expected volatility of the share price, expected forfeitures, expected dividend yield, expected term of the warrants or options, and expected risk-free interest rate. Such assumptions and judgments are inherently uncertain. Changes in these assumptions can affect the fair value estimates of stock-based compensation. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Expected credit losses on financial assets</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Determining an allowance for expected credit losses (“ECL”) for amounts receivable and all debt financial assets not held at fair value through profit or loss (“FVTPL”) requires management to make assumptions about the historical patterns for the probability of default, the timing of collection and the amount of incurred credit losses, which are adjusted based on management’s judgment about whether economic conditions and credit terms are such that actual losses may be higher or lower than what the historical patterns suggest.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Functional currency</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The functional currency for the Company and its subsidiaries is the currency of the primary economic environment in which they operate. Determination of functional currency involves significant judgments and other entities may make different judgments based on similar facts. Periodically, the Company reconsiders the functional currency of its business if there is a change in the underlying transactions, events or conditions which determine its primary economic environment.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Shares issued for non-cash consideration</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10.5pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">The Company is required to recognize these transactions at fair value which requires judgment in selecting valuation techniques and other factors.</span></p>
CY2024 ifrs-full Description Of Accounting Policy For Noncurrent Assets Or Disposal Groups Classified As Held For Sale And Discontinued Operations Explanatory
DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(a) Current and Non-Current Classification</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt;text-align:justify"><b> </b> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Assets and liabilities are presented in the consolidated statements of financial position based on current and non-current classification.</p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify">  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">An asset is classified as current when it is either expected to be realized or intended to be sold or consumed in the normal operating cycle; it is held primarily for the purpose of trading; it is expected to be realized within 12 months after the reporting period; or the asset is cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least 12 months after the reporting period. All other assets are classified as non-current.</p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>3. Summary of Material Accounting Policies (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(a) Current and Non-Current Classification (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">A liability is classified as current when it is either expected to be settled in the normal operating cycle; it is held primarily for the purpose of trading; it is due to be settled within 12 months after the reporting period; or there is no unconditional right to defer the settlement of the liability for at least 12 months after the reporting period. All other liabilities are classified as non-current.</p>
CY2024 ifrs-full Description Of Accounting Policy For Cash Flows Explanatory
DescriptionOfAccountingPolicyForCashFlowsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(b) Cash </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Cash in the consolidated statements of financial position comprises cash at a chartered bank in Canada and funds held in trust with the Company’s legal counsels which is available on demand.</p>
CY2024 ifrs-full Description Of Accounting Policy For Exploration And Evaluation Expenditures
DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(c) Exploration and Evaluation Assets</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Title to E&amp;E assets including mineral properties involves certain inherent risks due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyancing historical characteristic of many properties. The Company has investigated title to all its mineral properties and, to the best of its knowledge, titles to all its mineral properties are in good standing. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company accounts for E&amp;E assets in accordance with IFRS 6. Once the legal right to explore a property has been acquired, costs directly related to exploration and evaluation are recognized and capitalized, in addition to acquisition costs. These expenditures include but are not limited to acquiring licenses, researching and analyzing existing exploration data, conducting geological studies, exploration drilling and sampling and payments made to contractors and consultants in connection with the exploration and evaluation of the property. Costs not directly attributable to E&amp;E activities, including general administrative overhead costs, are expensed in the period in which they occur.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Acquisition costs incurred in obtaining legal right to explore a mineral property are deferred until the legal right is granted and thereon reclassified to mineral properties. Transaction costs incurred in acquiring an asset are deferred until the transaction is completed and then included in the purchase price of the asset acquired.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">When a project is deemed to no longer have commercially viable prospects to the Company, E&amp;E expenditures in respect of that project are deemed to be impaired. As a result, those E&amp;E expenditure costs, in excess of the estimated recoverable amount, are written off to the consolidated statements of loss and comprehensive loss. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company assesses E&amp;E assets for impairment when facts and circumstances suggest that the carrying amount of the asset may exceed its recoverable amount. The recoverable amount is the higher of the asset’s fair value less costs to sell (“FVLCS”) and value-in-use (“VIU”).</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Once the technical feasibility and commercial viability of extracting the mineral resource has been determined, the property is considered a mine under development. E&amp;E assets are also tested for impairment before the assets are transferred to development properties. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As the Company currently has no operational income, any incidental revenues earned in connection with exploration activities are applied as a reduction to capitalized exploration costs.</p>
CY2024 ifrs-full Description Of Accounting Policy For Financial Instruments Explanatory
DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(d) Financial Instruments</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company classifies and measures financial instruments in accordance with IFRS 9 – Financial Instruments (“IFRS 9”). A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. The Company recognizes financial assets and financial liabilities on the consolidated statements of financial position when it becomes a party to the financial instrument or derivative contract.</p> <p style="font:9pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Classification</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company classifies its financial assets in the following measurement categories: (a) those to be measured subsequently at FVTPL; (b) those to be measured subsequently at fair value through other comprehensive income (loss) (“FVTOCI”); and (c) those to be measured at amortized cost. The classification of financial assets depends on the business model for managing the financial assets and the contractual terms of the cash flows. Financial liabilities are classified as those to be measured at amortized cost unless they are designated as those to be measured subsequently at FVTPL (irrevocable election at the time of recognition). The Company reclassifies financial assets when and only when its business model for managing those assets changes. Financial liabilities are not reclassified. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company’s financial assets include cash, other receivables excluding any sales tax amounts, and due from related party. The Company’s financial liabilities include its accounts payable, due to related parties, lease liabilities, derivative liabilities and other liabilities. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="border-bottom:1px solid #000000"><i>Fair value through profit or loss</i></span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">This category includes derivative instruments as well as quoted equity instruments which the Company has not irrevocably elected, at initial recognition or transition, to classify at FVTOCI. This category would also include debt instruments whose cash flow characteristics do not meet the solely payment of principal and interest (“SPPI”) criterion or are not held within a business model whose objective is either to collect contractual cash flows, or to both collect contractual cash flows and sell. Financial assets in this category are recorded at fair value with changes recognized in the consolidated statements of loss and comprehensive loss.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="border-bottom:1px solid #000000"><i>Financial assets at fair value through other comprehensive income</i></span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Debt and equity instruments that are held for collection of contractual cash flows and for sale, and where the assets’ cash flows represent solely payments of principal and interest, are classified as FVTOCI. Movements in fair values are recognized in other comprehensive income (“OCI”) and accumulated in fair value reserve, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses, which are recognized in profit and loss.</p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>3. Summary of Material Accounting Policies (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(d) Financial Instruments (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">When the financial asset is derecognized, the cumulative gain or loss recognized in OCI is reclassified from equity to profit or loss and presented in “other gains and losses”. Interest income from these financial assets is recognized using the effective interest rate method and presented in “interest income”. As at June 30, 2024 and 2023, the Company did not have any financial assets at FVTOCI.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="border-bottom:1px solid #000000"><i>Amortized cost </i></span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Debt and equity instruments that are held for collection of contractual cash flows where those cash flows represent SPPI are measured at amortized cost. Interest income from these financial assets is included in interest income using the effective interest rate method.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company’s classification of financial assets and financial liabilities is summarized below: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"></p> <table style="border-collapse:collapse;width:316.8pt;margin-left:30.6pt"><tr style="height:12.25pt"><td style="width:230.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Cash</p> </td><td style="width:86.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">FVTPL</span></p> </td></tr> <tr style="height:12.25pt"><td style="width:230.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Due to/from related parties</p> </td><td style="width:86.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Amortized cost</span></p> </td></tr> <tr style="height:12.25pt"><td style="width:230.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Accounts payable </p> </td><td style="width:86.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Amortized cost</span></p> </td></tr> <tr style="height:12.25pt"><td style="width:230.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Lease liabilities</p> </td><td style="width:86.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Amortized cost</span></p> </td></tr> <tr style="height:12.25pt"><td style="width:230.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Derivative liabilities</p> </td><td style="width:86.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">FVTPL</span></p> </td></tr> <tr style="height:12.25pt"><td style="width:230.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Other liabilities</p> </td><td style="width:86.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">FVTPL</span></p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Measurement </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">All financial instruments are required to be measured at fair value on initial recognition, plus, in the case of a financial asset or financial liability not at FVTPL, transaction costs that are directly attributable to the acquisition or issuance of the financial asset or financial liability. Transaction costs of financial assets and financial liabilities carried at FVTPL are expensed in profit or loss. Financial assets and financial liabilities with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Financial assets that are held within a business model whose objective is to collect the contractual cash flows, and that have contractual cash flows that are solely payments of principal and interest on the principal outstanding are generally measured at amortized cost at the end of the subsequent accounting periods. All other financial assets, including equity investments, are measured at their fair values at the end of subsequent accounting periods, with any changes taken through profit and loss or OCI (irrevocable election at the time of recognition). For financial liabilities measured subsequently at FVTPL, changes in fair value due to credit risk are recorded in OCI. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Expected credit loss impairment model</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Under IFRS 9, the Company recognizes a provision for ECL on financial assets that are measured on amortized cost. The Company assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due. The Company considers a financial asset to be in default when the borrower is unlikely to pay its credit obligations to the Company in full or when the financial asset is more than 90 days past due. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Company determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>3. Summary of Material Accounting Policies (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(d) Financial Instruments (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Derecognition</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company derecognizes financial assets only when the contractual rights to cash flow from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company derecognizes a financial liability when its contractual obligations are discharged, cancelled, or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and/or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. </p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Gains or losses on derecognition are generally recognized in profit or loss.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Determination of fair value</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The determination of fair value requires judgment and is based on market information, where available and appropriate. The Company classifies fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. </p>
CY2024 ifrs-full Description Of Accounting Policy For Impairment Of Assets Explanatory
DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(e) Impairment of Assets</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">At each reporting date, the Company reviews the carrying amounts of its assets to determine whether there are any indicators of impairment. If any such indicator exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. </p> <p style="font:9pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Where the asset does not generate cash inflows that are independent from other assets, the Company estimates the recoverable amount of the cash-generating unit (“CGU”) to which the asset belongs. Any intangible asset with an indefinite useful life is tested for impairment annually and whenever there is an indication that the asset may be impaired. An asset’s recoverable amount is the higher of FVLCS and VIU. In assessing VIU, the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which estimates of future cash flows have not been adjusted.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">If the recoverable amount of an asset or CGU is estimated to be less than its carrying amount, the carrying amount is reduced to the recoverable amount and an impairment loss is recognized immediately in the consolidated statements of loss and comprehensive loss. Where an impairment subsequently reverses, the carrying amount is increased to the revised estimate of recoverable amount but only to the extent that this does not exceed the carrying value that would have been determined if no impairment had previously been recognized. A reversal of impairment is recognized in the consolidated statements of loss and comprehensive loss.</p>
CY2024 ifrs-full Description Of Accounting Policy For Impairment Of Nonfinancial Assets Explanatory
DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(f) Impairment of Non-Financial Assets</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Goodwill and other intangible assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other non-financial assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount.</p> <p style="font:11pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Recoverable amount is the higher of an asset’s FVLCS and VIU. The VIU is the present value of the estimated future cash flows relating to the asset using a pre-tax discount rate specific to the asset or CGU to which the asset belongs. Assets that do not have independent cash flows are grouped together to form a CGU.</p>
CY2024 ifrs-full Description Of Accounting Policy For Leases Explanatory
DescriptionOfAccountingPolicyForLeasesExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(g) Leased Assets</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company is party to a lease of a mining analyzer which is used for its E&amp;E activities. The Company assesses service arrangements to determine if an asset is explicitly or implicitly specified in the agreement and if it has the right to control the use of the identified asset.</p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">At inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.</p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company then recognizes a right-of-use (“ROU”) asset and a lease liability at the lease commencement date. The ROU asset is initially measured based on the initial amount of the lease liability adjusted for any lease payments made at or before the commencement date, plus any initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on which it is located, less any lease incentives received. The assets are depreciated to the earlier of the end of the useful life of the ROU asset or the lease term using the straight-line method. The lease term includes periods covered by an option to extend if the Company is reasonably certain to exercise that option. The Company elected to recognize expenses for leases with a term of 12 months or less on a straight-line basis over the lease term and lease of assets of low value, and not to recognize these short-term leases on the consolidated statements of financial position.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the Company’s incremental borrowing rate, which was determined to be about 14%. The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in the Company’s estimate of the amount expected to be payable under a residual value guarantee, if there is a change in future lease payments arising from a change in an index or rate, or if the Company changes its assessment whether it will exercise a purchase, extension or termination option.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">When the lease liability is remeasured, the amount of the remeasurement is recognized as a corresponding adjustment to the carrying amount of the ROU asset or is recorded in profit or loss if the carrying amount of the ROU asset has been reduced to zero.</p>
CY2024 ifrs-full Description Of Accounting Policy For Provisions Explanatory
DescriptionOfAccountingPolicyForProvisionsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(h) Provisions</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">A provision is recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount of the obligation can be reliably estimated. 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 stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>3. Summary of Material Accounting Policies (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(h) Provisions (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">A provision for onerous contracts is recognized when the expected benefits to be derived by the Company from a contract are lower than the unavoidable cost of meeting its obligations under the contract.</p>
CY2024 ifrs-full Description Of Accounting Policy For Income Tax Explanatory
DescriptionOfAccountingPolicyForIncomeTaxExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(i) Income Taxes</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Income tax expense consists of current and deferred tax expense. Current and deferred tax are recognized in profit or loss except to the extent that it relates to items recognized directly in equity or OCI.</p> <p style="font:8pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Current income tax is recognized and measured at the amount expected to be recovered from, or payable to, the taxation authorities based on the income tax rates enacted or substantively enacted at the end of the reporting period and includes any adjustment to taxes payable in respect of previous years.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Deferred tax is recorded for temporary differences at the date of the consolidated statements of financial position between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. The carrying amount of a deferred tax asset is reviewed at the end of the reporting period and is reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at the end of the reporting period and are recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the end of the reporting period. </p> <p style="font:8pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Deferred tax assets and deferred tax liabilities are offset if, and only if, they relate to income taxes levied by the same taxation authority and the Company has the legal rights and intent to offset.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"><i>Estimates</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Provisions for taxes are made using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant factors. The Company reviews the adequacy of these provisions at the end of the reporting period. However, it is possible that at some future date an additional liability could result from audits by taxing authorities. Where the final outcome of these tax‑related matters is different from the amounts that were initially recorded, such differences will affect the tax provisions in the period in which such determination is made.</p>
CY2024 ifrs-full Description Of Accounting Policy For Sharebased Payment Transactions Explanatory
DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(k) Share-Based Payments Transactions</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company operates a stock option plan (the “Option Plan”). Share-based payments to employees are measured at the fair value of the instruments issued and amortized over the vesting periods. Share-based payments to non-employees are measured at the fair value of goods or services received, or at the fair value of the equity instruments </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">issued, if it is determined the fair value of the goods or services cannot be reliably measured and are recorded at the date the goods or services are received. The fair value of options is determined based on the application of the Black-Scholes valuation model (“Black-Scholes”). The fair value of equity-settled stock-based compensation transactions is recognized as an expense with a corresponding increase in the share-based payments reserve.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">If share-settled awards are modified, as a minimum an expense is recognized as if the modification has not been made. An additional expense is recognized, over the remaining vesting period, for any modification that increases the total fair value of the share-based compensation benefit as at the date of modification.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Amounts recorded for cancelled or expired unexercised options are transferred to accumulated deficit in the period of which the cancellation or expiry occurs.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company also operates a RSUs Plan, where RSUs are granted to directors, employees and consultants from time to time. RSUs are measured at the fair value of the date of grant, based on the closing price of the Company’s common shares on the date of grant. The fair value of stock-based compensation on RSUs is recognized as an expense with a corresponding increase in the reserve for RSUs over the vesting period.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">From time to time, the Company may also grant RSUs with a put right option, which provides the grantee with the right (the “Put Right Option”), but not the obligation to cause the Company to purchase all or a portion of the vested RSUs at a put purchase price (the “Put Purchase Price”). As the grantee has the choice of settlement through cash or in shares, these RSUs with the Put Right Option are considered to be a compound financial instrument that includes both a liability component and an equity component. At the measurement date, the Company accounts for the two components separately i.e. applying the requirements for cash-settled share-based payments to the liability component and applying the requirements for equity-settled share-based payments to the equity component, if that component has a recognized value. Applying the requirements for equity-settled share-based payments, the value of the equity component is not remeasured subsequently. Applying the requirements for cash-settled share-based payments, the liability is remeasured at each reporting date and on settlement date to its fair value.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">If the grantee chooses cash settlement, then the cash payment settles the liability. Any equity component previously recognized in equity remains in equity. If the grantee employee chooses settlement in equity instruments, then the liability is transferred to equity as consideration for issuing the equity instruments.</p>
CY2024 ifrs-full Description Of Accounting Policy For Warrants Explanatory
DescriptionOfAccountingPolicyForWarrantsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(l) Warrants</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Share purchase warrants (each a “Warrant”) are classified as a component of equity. Warrants issued along with shares in an equity unit financing are measured using the residual approach, whereby the fair value of the Warrant is determined after deducting the fair value of the shares from the unit price less applicable financing costs. Warrants issued for broker/financing compensation, are recognized at the fair value using Black-Scholes at the date of issuance. Warrants are initially recorded as a part of the reserves in warrant in equity at the recognized fair value.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Upon exercise of the Warrants, the previously recognized fair value of the Warrants exercised is reallocated to share capital from warrants reserve. Proceeds generated from the payment of the exercise price are also allocated to share capital. Amounts recorded for expired unexercised warrants are transferred to accumulated deficit in the period of which the expiry occurs.</p>
CY2024 ifrs-full Description Of Accounting Policy For Treasury Shares Explanatory
DescriptionOfAccountingPolicyForTreasurySharesExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(m) Flow-Through Shares</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Proceeds received from the issuance of flow-through shares are restricted to be used only for Canadian resource property exploration expenditures within a two-year period. The portion of the proceeds received but not yet expended at the end of the year is disclosed separately.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The issuance of flow-through common shares results in the tax deductibility of the qualifying resource expenditures funded from the proceeds of the sales of such common shares being transferred to the purchasers of the shares. On the issuance of such shares, the Company bifurcates the flow-through shares into a flow-through share premium, equal to the estimated fair value of the premium that investors pay for the flow-through tax feature, which is recognized as a liability, and equity values of share capital and/or warrants. As related exploration expenditures are incurred, the Company derecognizes the premium liability and recognizes the related recovery. </p>
CY2024 ifrs-full Description Of Accounting Policy For Earnings Per Share Explanatory
DescriptionOfAccountingPolicyForEarningsPerShareExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(n) Loss Per Share</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Basic loss per share is computed by dividing the net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated by the treasury stock method. Under the treasury stock method, the weighted average number of common shares outstanding for the calculation of diluted (loss) earnings per share assumes that the proceeds to be received on the exercise of dilutive share options and warrants are used to repurchase common shares at the average market price during the period.</p>
CY2024 ifrs-full Description Of Accounting Policy For Foreign Currency Translation Explanatory
DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(o) Foreign Currency Translation </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Monetary assets and liabilities denominated in currencies other than CAD are translated into CAD at the rate of the consolidated financial statements of the Company are prepared in its functional currency, determined on the basis of the primary economic environment in which the entity operates. Given that operations are in Canada, the presentation and functional currency of the Company is the Canadian dollar.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Transactions in currencies other than the functional currency are recorded at the rates of exchange prevailing at the transaction dates. At each reporting date, monetary items denominated in foreign currencies are translated into the entity’s functional currency at the then prevailing rates and non-monetary items measured at historical cost are translated into the entity’s functional currency at rates in effect at the date the transaction took place. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>3. Summary of Material Accounting Policies (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(o) Foreign Currency Translation (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition during the period or in previous financial statements are included in the consolidated statements of loss and comprehensive loss for the period in which they arise.</p>
CY2024 ifrs-full Description Of Accounting Policy For Transactions With Related Parties Explanatory
DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>(p) Related Party Transactions</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.</p>
CY2024 ifrs-full Disclosure Of Acquired Receivables Explanatory
DisclosureOfAcquiredReceivablesExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-21.6pt;margin-left:21.6pt;color:#000000;text-align:justify"><b>4. Sales Tax Receivable</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">The Company’s sales tax receivable balance represents amounts due from government taxation authorities in respect of the Good and Services Tax/Harmonized Sales Tax. The Company anticipates full recovery of these amounts and therefore no ECL has been recorded against these receivables, which are due in less than one year.</p>
CY2024 ifrs-full Disclosure Of Prepayments And Other Assets Explanatory
DisclosureOfPrepaymentsAndOtherAssetsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-21.6pt;margin-left:21.6pt;color:#000000;text-align:justify"><b>5. Prepaid Expenses</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt;color:#000000;text-align:justify"> </p> <table style="border-collapse:collapse;width:445.3pt;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:190.15pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>June 30, </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>2024</b></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> 2023</p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> 2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:190.15pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> </td><td style="width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;text-align:right"><b>$</b></p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;text-align:right">$</p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:190.15pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Prepaid insurance</span></p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>-</b></p> </td><td style="background-color:#D3F0FE;width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">283,307</p> </td><td style="background-color:#D3F0FE;width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">483,278</p> </td></tr> <tr style="height:7.2pt"><td style="width:190.15pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Advances made to suppliers and deposits</span></p> </td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>706,634</b></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">600,565</p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">448,872</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:190.15pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"></td><td style="background-color:#D3F0FE;width:106.3pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>706,634</b></p> </td><td style="background-color:#D3F0FE;width:77.95pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">883,872</p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">932,150</p> </td></tr> </table>
CY2024 ifrs-full Disclosure Of Expenses Explanatory
DisclosureOfExpensesExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt;color:#000000;text-align:justify"> </p> <table style="border-collapse:collapse;width:445.3pt;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:190.15pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>June 30, </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>2024</b></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> 2023</p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> 2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:190.15pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> </td><td style="width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;text-align:right"><b>$</b></p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;text-align:right">$</p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:190.15pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Prepaid insurance</span></p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>-</b></p> </td><td style="background-color:#D3F0FE;width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">283,307</p> </td><td style="background-color:#D3F0FE;width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">483,278</p> </td></tr> <tr style="height:7.2pt"><td style="width:190.15pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="font-size:10pt">Advances made to suppliers and deposits</span></p> </td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>706,634</b></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">600,565</p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">448,872</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:190.15pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"></td><td style="background-color:#D3F0FE;width:106.3pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>706,634</b></p> </td><td style="background-color:#D3F0FE;width:77.95pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">883,872</p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">932,150</p> </td></tr> </table>
CY2024 fil Prepaid Insurances
PrepaidInsurances
0 cad
CY2023 fil Prepaid Insurances
PrepaidInsurances
283307 cad
CY2022Q2 fil Prepaid Insurances
PrepaidInsurances
483278 cad
CY2024 fil Advances Made To Suppliers And Deposits
AdvancesMadeToSuppliersAndDeposits
706634 cad
CY2023 fil Advances Made To Suppliers And Deposits
AdvancesMadeToSuppliersAndDeposits
600565 cad
CY2022Q2 fil Advances Made To Suppliers And Deposits
AdvancesMadeToSuppliersAndDeposits
448872 cad
CY2024Q2 ifrs-full Current Prepaid Expenses
CurrentPrepaidExpenses
706634 cad
CY2023Q2 ifrs-full Current Prepaid Expenses
CurrentPrepaidExpenses
883872 cad
CY2022Q2 ifrs-full Current Prepaid Expenses
CurrentPrepaidExpenses
932150 cad
CY2024 ifrs-full Disclosure Of Exploration And Evaluation Assets Explanatory
DisclosureOfExplorationAndEvaluationAssetsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-21.6pt;margin-left:21.6pt;color:#000000;text-align:justify"><b>6. Exploration and Evaluation Assets</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The following summarizes the movement of the Company’s E&amp;E assets for the years ended June 30, 2024, 2023 and 2022: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <table style="border-collapse:collapse;width:453.6pt"><tr style="height:7.2pt"><td style="width:226.8pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>June 30,</b></p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>2024</b></span></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">2023</span></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:226.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>$</b></p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">$</p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:226.8pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000"><span style="font-size:10pt"><b>Balance, beginning of year</b></span></p> </td><td style="background-color:#D3F0FE;width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>21,442,032</b></p> </td><td style="background-color:#D3F0FE;width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">12,077,584</p> </td><td style="background-color:#D3F0FE;width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">5,730,224</p> </td></tr> <tr style="height:7.2pt"><td style="width:226.8pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000"><span style="font-size:10pt">Exploration and evaluation expenditures</span></p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>7,976,506</b></p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">9,364,448</p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">6,347,360</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:226.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000"><span style="font-size:10pt">Disposal due to termination of Muskrat Dam Project</span></p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>(2,805,780)</b></p> </td><td style="background-color:#D3F0FE;width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="width:226.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000"><span style="font-size:10pt"><b>Balance, end of year</b></span></p> </td><td style="width:70.9pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>26,612,758</b></p> </td><td style="width:77.95pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">21,442,032</p> </td><td style="width:77.95pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">12,077,584</p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><span style="border-bottom:1px solid #000000">ACME Option Agreement</span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On January 29, 2024, the Company entered into an option agreement (the “ACME Option Agreement”) with ACME Lithium Inc. (“ACME”), pursuant to which ACME has granted the Company the option to earn up to a 90% undivided interest in the mineral claims held by ACME at its Manitoba lithium project areas, located in south eastern Manitoba, </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Canada (the “Shatford Lake Project”), which is comprised of 37 mineral claims located over three project areas - Shatford Lake, Birse Lake, and Cat-Euclid Lake, totaling approximately 17,000 acres.</p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Pursuant to the ACME Option Agreement, the Company may exercise the option by paying a total of $800,000 and incurring a total of $1,800,000 in exploration and development (“E&amp;D”) expenditures over a two-year period, as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>Initial payment: Cash payment of $20,000 (paid); </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>Upon execution: Cash payment of $130,000 (paid); </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>First year: Cash payment of $150,000 and minimum E&amp;D expenditures of $600,000; and </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>Second year: Cash payment of $500,000 and minimum E&amp;D expenditures of $1,200,000. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Once the Company has earned a 90% undivided interest in the Shatford Lake Project, and completed a positive feasibility study, a joint venture (the “Joint Venture”) between Snow Lake and ACME will be formed for further development, the detailed market standard terms and conditions of which will be agreed at the time of formation of the Joint Venture.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><span style="border-bottom:1px solid #000000">Muskrat Dam Option Agreement</span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On February 5, 2024, the Company entered into another option agreement (the “Muskrat Dam Option Agreement”) with a private Manitoba company (“Manco”) to acquire a 90% undivided interest in a group of mineral claims in the Muskrat Dam Lake area of Western Ontario, near Kenora and the border with Manitoba (the “Muskrat Dam Project”). Pursuant to the Muskrat Dam Option Agreement, Manco had granted the Company the option to earn up to a 90% undivided interest in the Muskrat Dam Project upon the following terms and conditions:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-21.6pt;margin-left:21.6pt;color:#000000;text-align:justify"><b>6. Exploration and Evaluation Assets (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Pursuant to the Muskrat Dam Option Agreement, the Company paid $50,000, issued an aggregate of 500,000 common shares (Note 13), and granted 2,000,000 2024 Settlement Warrants (each a 2024 Settlement Warrant), whereby each 2024 Settlement Warrant is exercisable for a period of five years at an exercise price of USD $1.50 (see Note 10). </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The option agreement was amended and terminated on June 28, 2024, and the Company issued an aggregate of 3,500,000 shares in consideration for the termination (see Note 13). The 2,000,000 2024 Settlement Warrants previously issued were cancelled (see Note 10). A loss on termination of the Muskrat Dam Option Agreement of $4,652,894 was recorded in the consolidated statements of loss and comprehensive loss, consisting of $3,415,591 related to the issuance of termination shares, $2,805,780 related to previously capitalized E&amp;E assets that were written off, net of $1,568,557 related to the derecognition of the derivative liability associated with the cancelled 2024 Settlement Warrants. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="border-bottom:1px solid #000000">Engo Valley Uranium Project </span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On February 20, 2024, the Company and a British Columbia company (the “Vendor”) entered into a binding letter of intent (the “LOI”) to acquire 100% of Engo Valley Pty Ltd. (“Engo Valley”), a private Australian company, pursuant to which Snow Lake will acquire up to 85% undivided indirect interest in Namibia Minerals and  Investment Holdings (Proprietary) Limited (the “Project Company”), a private Namibian company, which in turn is the sole registered and beneficial owner of 100% of the right, title and interest in the Exclusive Prospecting License - 5887 (the “License”) for the Engo Valley Uranium Project.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">In July 2024, subsequent to year end, the Company entered into a share purchase agreement to acquire Engo Valley in two stages, as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">(a) First Stage Interest</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Snow Lake acquired an initial 80% undivided interest in Engo Valley, which represents a 68% undivided indirect interest in the Project Company (the “First Stage Interest”), upon:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>payment to the Vendor of USD $250,000 in cash (paid); </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>incurring exploration expenditures of a minimum of USD $200,000 (incurred); and </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>allotting and issuing to the Vendor 2,024,496 common shares (issued subsequent to year end). </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">(b) Second Stage Interest</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company will acquire an additional 20% undivided interest in Engo Valley, which represents a 17% undivided indirect interest in the Project Company by (the “Second Stage Interest”), for a total undivided indirect interest of 85% in the Project Company, upon:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>incurring additional exploration expenditures of a minimum of USD $800,000 on or before June 30, 2025, provided, that any expenditures we incurred in excess of the USD $200,000 minimum exploration expenditures in connection with our acquisition of the First Stage Interest will be credited against the expenditure commitment for the Second Stage Interest. </p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-21.6pt;margin-left:21.6pt;color:#000000;text-align:justify"><b>6. Exploration and Evaluation Assets (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">After the Company acquires the Second Stage Interest, the Company will be obligated to make the following payments to the Vendor, in the form of our common shares, upon the achievement of the following milestones:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">i)</kbd>Milestone Payment No. 1: In the event an SK-1300 compliant technical report determines there is a uranium mineral resource on the Engo Valley Uranium Project of a minimum of 10 million pounds with a minimum average grade of 250 parts per million, or ppm, U3O8, the Company will issue an aggregate of 1,030,927 common shares; and  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:54pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:54pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">ii)</kbd>Milestone Payment No. 2: In the event an SK-1300 compliant technical report determines there is a uranium mineral resource on the Engo Valley Uranium Project of a minimum of 25 million pounds with a minimum average grade of 250 ppm U3O8, the Company will issue an aggregate of 1,030,927 common shares. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><span style="border-bottom:1px solid #000000">Black Lake Uranium Project </span></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On May 8, 2024, Snow Lake entered into a share purchase agreement to acquire 100% of Global Uranium Acquisition Corp (Pty) Ltd ("Global Uranium"), a private Australian company, which in turn, has entered into a mineral property option agreement (the "Option Agreement") with Doctors Investment Group Ltd. ("Doctors"), a private British Columbia company, pursuant to which Global can earn a 100% interest in the Black Lake Uranium Project.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Snow Lake agreed to acquire Global Uranium in consideration of: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>payment of $50,000 in cash (paid); </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>issuance of 1,000,000 common shares upon execution of the share purchase agreement (issued); and  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-18pt">·</kbd>issuance of 1,000,000 common shares in the event that an SK-1300 compliant technical report determines that there is a uranium mineral resource on the Black Lake Uranium Project of a minimum of 10 million pounds U<span style="vertical-align:sub">3</span>O<span style="vertical-align:sub">8 </span>with a minimum average grade of 500 ppm U<span style="vertical-align:sub">3</span>O<span style="vertical-align:sub">8 </span>per tonne.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The acquisition was completed on June 21, 2024, and was accounted for as an asset acquisition as Global Uranium does not meet the definition of a business under IFRS 3. As Global Uranium had net assets of $nil on the date of acquisition, the full value of the consideration given up by the Company has been allocated to exploration and evaluation assets.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Option Agreement provides that Global Uranium can earn a 100% interest in the Black Lake Uranium Project as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-18pt">a.</kbd>Cash Payments by Global Uranium to Doctors of the following amounts: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">i.</kbd>$50,000 within 2 days of signing the Option Agreement (paid);  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">ii.</kbd>$150,000 within 30 days of signing the Option Agreement (paid);  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">iii.</kbd>$250,000 on or before the first anniversary of signing the Option Agreement;  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">iv.</kbd>$350,000 on or before the second anniversary of signing the Option Agreement;  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">v.</kbd>$400,000 on or before the third anniversary of signing the Option Agreement; and  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">vi.</kbd>$600,000 on or before the fourth anniversary of signing the Option Agreement. </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-21.6pt;margin-left:21.6pt;color:#000000;text-align:justify"><b>6. Exploration and Evaluation Assets (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-18pt">b.</kbd>Exploration Expenditures – Global Uranium incurring the following exploration expenditures on the Black Lake Uranium Project: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:36pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">i.</kbd>$500,000 in exploration expenditures on or before the first anniversary of the signing of the Option Agreement; </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">ii.</kbd>$500,000 in exploration expenditures on or before the second anniversary of the signing of the Option Agreement; and  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:72pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-36pt">iii.</kbd>$1,000,000 in exploration expenditures on or before the third anniversary of the signing of the Option Agreement. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Global Uranium has the right under the Option Agreement to accelerate both cash payments and/or the exploration expenditures prescribed under the Option Agreement. </p>
CY2023Q2 ifrs-full Intangible Exploration And Evaluation Assets
IntangibleExplorationAndEvaluationAssets
21442032 cad
CY2022Q2 ifrs-full Intangible Exploration And Evaluation Assets
IntangibleExplorationAndEvaluationAssets
12077584 cad
CY2021Q2 ifrs-full Intangible Exploration And Evaluation Assets
IntangibleExplorationAndEvaluationAssets
5730224 cad
CY2024 fil Exploration And Evaluation Expenditure
ExplorationAndEvaluationExpenditure
7976506 cad
CY2023 fil Exploration And Evaluation Expenditure
ExplorationAndEvaluationExpenditure
9364448 cad
CY2022 fil Exploration And Evaluation Expenditure
ExplorationAndEvaluationExpenditure
6347360 cad
CY2024 ifrs-full Disposals Intangible Assets And Goodwill
DisposalsIntangibleAssetsAndGoodwill
-2805780 cad
CY2023 ifrs-full Disposals Intangible Assets And Goodwill
DisposalsIntangibleAssetsAndGoodwill
0 cad
CY2022 ifrs-full Disposals Intangible Assets And Goodwill
DisposalsIntangibleAssetsAndGoodwill
0 cad
CY2024Q2 ifrs-full Intangible Exploration And Evaluation Assets
IntangibleExplorationAndEvaluationAssets
26612758 cad
CY2023Q2 ifrs-full Intangible Exploration And Evaluation Assets
IntangibleExplorationAndEvaluationAssets
21442032 cad
CY2022Q2 ifrs-full Intangible Exploration And Evaluation Assets
IntangibleExplorationAndEvaluationAssets
12077584 cad
CY2024 fil Loss On Termination Of Muskrat Dam Project
LossOnTerminationOfMuskratDamProject
4652894 cad
CY2024 ifrs-full Disclosure Of Quantitative Information About Rightofuse Assets Explanatory
DisclosureOfQuantitativeInformationAboutRightofuseAssetsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>7. Right-of-Use Assets</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Effective June 15, 2023, the Company entered into a lease agreement for mining equipment used in its E&amp;E activities, for a term of two years. As at June 30, 2024, 2023 and 2022, the Company’s leased equipment classified as right-of-use (“ROU”) assets are as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:justify"></p> <table style="border-collapse:collapse;width:432.35pt"><tr style="height:7.2pt"><td style="width:219.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>June 30,</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>2024</b></p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">2023</p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:219.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:70.85pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>$</b></p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">$</p> </td><td style="width:70.85pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:219.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Cost, beginning of year</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>63,360</b></p> </td><td style="background-color:#D3F0FE;width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:70.85pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="width:219.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Additions for right-of-use assets</p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>-</b></span></p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">63,360</span></p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:219.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, end of year</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>63,360</b></p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">63,360</p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="width:219.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:219.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Accumulated Amortization, beginning of year</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>2,640</b></span></p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="width:219.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Depreciation</p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>31,680</b></span></p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">2,640</span></p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:219.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Accumulated Amortization, end of year</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>34,320</b></span></p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">2,640</span></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="width:219.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> </td><td style="width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:219.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Net Book Value</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>29,040</b></span></p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">60,720</span></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right">-</p> </td></tr> </table>
CY2024 ifrs-full Additions To Rightofuse Assets
AdditionsToRightofuseAssets
0 cad
CY2023 ifrs-full Additions To Rightofuse Assets
AdditionsToRightofuseAssets
63360 cad
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2640 cad
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
0 cad
CY2024 ifrs-full Depreciation Rightofuse Assets
DepreciationRightofuseAssets
31680 cad
CY2023 ifrs-full Depreciation Rightofuse Assets
DepreciationRightofuseAssets
2640 cad
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
34320 cad
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2640 cad
CY2024Q2 ifrs-full Rightofuse Assets
RightofuseAssets
29040 cad
CY2023Q2 ifrs-full Rightofuse Assets
RightofuseAssets
60720 cad
CY2024Q2 ifrs-full Trade And Other Payables To Trade Suppliers
TradeAndOtherPayablesToTradeSuppliers
470172 cad
CY2023Q2 ifrs-full Trade And Other Payables To Trade Suppliers
TradeAndOtherPayablesToTradeSuppliers
722376 cad
CY2022Q2 ifrs-full Trade And Other Payables To Trade Suppliers
TradeAndOtherPayablesToTradeSuppliers
568065 cad
CY2024Q2 ifrs-full Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
219772 cad
CY2023Q2 ifrs-full Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
301758 cad
CY2022Q2 ifrs-full Current Accrued Expenses And Other Current Liabilities
CurrentAccruedExpensesAndOtherCurrentLiabilities
614384 cad
CY2024Q2 ifrs-full Trade And Other Current Payables
TradeAndOtherCurrentPayables
689944 cad
CY2023Q2 ifrs-full Trade And Other Current Payables
TradeAndOtherCurrentPayables
1024134 cad
CY2022Q2 ifrs-full Trade And Other Current Payables
TradeAndOtherCurrentPayables
1182449 cad
CY2022Q2 ifrs-full Lease Liabilities
LeaseLiabilities
0 cad
CY2023 ifrs-full Additions To Rightofuse Assets
AdditionsToRightofuseAssets
63360 cad
CY2023 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
2986 cad
CY2023 fil Accretion Expense1
AccretionExpense1
654 cad
CY2023Q2 ifrs-full Lease Liabilities
LeaseLiabilities
61028 cad
CY2024 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
35828 cad
CY2024 fil Accretion Expense1
AccretionExpense1
5907 cad
CY2024Q2 ifrs-full Lease Liabilities
LeaseLiabilities
31107 cad
CY2024Q2 ifrs-full Current Lease Liabilities
CurrentLeaseLiabilities
31107 cad
CY2024Q2 ifrs-full Noncurrent Lease Liabilities
NoncurrentLeaseLiabilities
0 cad
CY2024Q2 ifrs-full Lease Liabilities
LeaseLiabilities
31107 cad
CY2024 ifrs-full Maturity Analysis For Derivative Financial Liabilities
MaturityAnalysisForDerivativeFinancialLiabilities
<p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>10. Derivative Liabilities</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Conversion feature of Debentures </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Upon issuance of the Debentures in February 2021, the Company allocated the conversion feature component valued at $442,589 as a derivative liability.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2022, a gain on change in fair value on the conversion feature of $153,155 was recorded on the consolidated statements of loss and comprehensive loss up to the conversion of the Debentures. As a result of the conversion, a fair value of $256,758 was allocated to share capital.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>IPO Finders’ Warrants </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">In connection with the IPO which closed on November 23, 2021, the Company issued 184,000 finders’ warrants (each a “Finders’ Warrants”) exercisable at USD $9.375 before November 19, 2026. The fair value of these Finders’ Warrants was estimated at $1,237,681 using the Black-Scholes valuation model (“Black-Scholes”) with the following assumptions: expected volatility of 100% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 1.58%, and an expected life of five years.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the derivative liability related to the Finders’ Warrants was measured at a fair value of $45,285 (2023 – $379,025; 2022 - $286,997) using Black-Scholes with the following assumptions: share price of USD $0.71, exercise price of USD $9.375, expected volatility of 129% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.02% and an estimated remaining life of 2.4 years.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company recorded a fair value gain of $333,740 on the derivative liability related to the Finders’ Warrants (2023 – fair value loss of $92,028; 2022 – fair value gain of $950,684).</p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>10. Derivative Liabilities (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Incentive Warrants</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On February 17, 2023, the Company issued 225,000 incentive warrants (each a “Incentive Warrant”) to a third-party pursuant to an engagement agreement between the parties, whereby each Incentive Warrant is exercisable for a period of two years at an exercise price of: (i) USD $3.00 for 75,000 Incentive Warrants; (ii) USD $4.00 for 75,000 Incentive Warrants; and (iii) USD $5.00 for 75,000 Incentive Warrants. On initial recognition, the fair value of these Incentive Warrants was estimated at $409,496 using Black-Scholes with the following assumptions: expected volatility of 148% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.15%, and an expected life of two years. The fair value of the Incentive Warrants was recorded as consulting fees on the consolidated statements of loss and comprehensive loss.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the derivative liability related to the Incentive Warrants was measured at a fair value of $11,754 (2023 – $401,544, 2022 - $nil) using Black-Scholes with the following assumptions: share price of USD $0.71, exercise price ranging from USD $3.00 to $5.00, expected volatility of 131% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.02% and an estimated remaining life of 0.64 years. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company recorded a fair value gain of $389,790 (2023 – $7,952; 2022 - $nil) on the derivative liability related to the Incentive Warrants.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Settlement Warrants</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On March 31, 2023, the Company issued 500,000 settlement warrants (each a “Settlement Warrant”) to two additional third-parties pursuant to an agreement for release and settlement of claims advanced against the Company, whereby each Settlement Warrant is exercisable for a period of three years at an exercise price of USD $2.50. On initial recognition, the fair value of these Settlement Warrants was estimated at $979,294 using Black-Scholes with the following assumptions: expected volatility of 140% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 3.51%, and an expected life of three years. The fair value of the Settlement Warrants was recorded as professional fees on the consolidated statements of loss and comprehensive loss.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the derivative liability related to the Settlement Warrants was measured at a fair value of $191,860 (2023 – $1,141,677; 2022 - $nil) using Black-Scholes with the following assumptions: share price of USD $0.71, exercise price of USD $2.50, expected volatility of 135% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.02% and an estimated remaining life of 1.75 years. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company recorded a fair value gain of $949,817 (2023 – fair value loss of $162,383; 2022 - $nil) on the derivative liability related to the Settlement Warrants.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Agents’ Warrants</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On September 21, 2023, the Company issued 86,000 agents’ warrants (each an “Agents’ Warrant”) in connection to the flow-through financing (the “Offering”), whereby each Agents’ Warrant is exercisable for a period of five years at an exercise price of USD $2.67. On initial recognition, the fair value of these Agents’ Warrants was estimated at $139,639 using Black-Scholes with the following assumptions: expected volatility of 139% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.25%, and an expected life of five years. The fair value of the Agents’ Warrants was recorded as share issuance costs and netted against share capital on the consolidated statements of financial position.</p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>10. Derivative Liabilities (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the derivative liability related to the Agents’ Warrants was measured at a fair value of $55,179 (2023 - $nil; 2022 - $nil) using Black-Scholes with the following assumptions: share price of USD $0.71, exercise price of USD $2.67, expected volatility of 124% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 3.51% and an estimated remaining life of 4.23 years. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company recorded a fair value gain of $84,460 on the derivative liability related to the Agents’ Warrants (2023 - $nil; 2022 - $nil).</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Performance Warrants</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On October 2, 2023, the Company issued 300,000 performance warrants (each a “Performance Warrant”) to a third-party pursuant to a marketing services agreement (the “Marketing Agreement”) between the parties, whereby each Performance Warrant is exercisable for a period of one year at an exercise price of: (i) USD $2.00 for 100,000 Performance Warrants; (ii) USD $2.50 for 100,000 Performance Warrants; and (iii) USD $3.00 for 100,000 Performance Warrants. On initial recognition, the fair value of these Performance Warrants was estimated at $171,631 using Black-Scholes with the following assumptions: expected volatility of 137% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.83%, and an expected life of one year. The fair value of the Performance Warrants was recorded as consulting fees on the consolidated statements of loss and comprehensive loss.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the derivative liability related to the Performance Warrants was measured at a fair value of $946 (2023 - $nil; 2022 - $nil) using Black-Scholes with the following assumptions: share price of USD $0.71, exercise price ranging from USD $2.00 to $3.00, expected volatility of 100% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 4.02% and an estimated remaining life of 0.26 years. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company recorded a fair value gain of $170,685 on the derivative liability related to the Performance Warrants (2023 - $nil; 2022 - $nil).</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>2024 Settlement Warrants</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On February 8, 2024, the Company issued 2,000,000 2024 Settlement Warrants pursuant to the Muskrat Dam Option Agreement, whereby each 2024 Settlement Warrant is exercisable for a period of five years at an exercise price of USD $1.50. On initial recognition, the fair value of these 2024 Settlement Warrants was estimated at $2,022,244 using Black-Scholes with the following assumptions: expected volatility of 138% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 3.66%, and an expected life of five years. The fair value of the 2024 Settlement Warrants was recorded as exploration and evaluation assets on the consolidated statements of financial position. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On June 28, 2024, the Muskrat Dam Option Agreement was terminated resulting in the cancellation of the 2024 Settlement Warrants. On June 28, 2024, the derivative liability was measured at a fair value of $1,568,557 using Black-Scholes with the following assumptions: share price of USD $0.71, exercise price of USD $1.50, expected volatility of 135% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 3.52% and an estimated remaining life of 4.61 years. The balance was written off against the loss on termination of the Muskrat Dam Option Agreement in the consolidated statements of loss and comprehensive. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company recorded a fair value gain of $453,687 on the derivative liability related to the 2024 Settlement Warrant (2023 - $nil; 2022 - $nil).  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><b>10. Derivative Liabilities (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The changes to the derivative liabilities are as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <table style="border-collapse:collapse;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:296.45pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"> </p> </td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><b>          $</b></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"><b>Balance, June 30, 2021</b></p> </td><td style="background-color:#D3F0FE;width:106.3pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><b>409,913</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – conversion feature</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right">(153,155)</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value allocated on conversion of Debentures </p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right">(256,758)</p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value of derivative liabilities on date of issuance</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right">1,237,681</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Finders’ Warrants</p> </td><td style="background-color:#D3F0FE;width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right">(950,684)</p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"><b>Balance, June 30, 2022</b></p> </td><td style="width:106.3pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt"><b>286,997</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value of derivative liabilities on date of issuance</p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt">1,388,790</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Finders’ Warrants</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt">92,028</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Incentive Warrants</p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt">(7,952)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Settlement Warrants</p> </td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt">162,383</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"><b>Balance, June 30, 2023</b></p> </td><td style="background-color:#D3F0FE;width:106.3pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt"><b>1,922,246</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0">Fair value of derivative liabilities on date of issuance</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt">2,333,515</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Finders’ Warrants</p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(333,740)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Incentive Warrants</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(389,790)</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Settlement Warrants</p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(949,817)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Agents’ Warrants</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(84,460)</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – Performance Warrants</p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(170,685)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Fair value changes of derivative liability – 2024 Settlement Warrants</p> </td><td style="width:106.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(453,687)</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:296.45pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Disposal of 2024 Settlement Warrants </p> </td><td style="background-color:#D3F0FE;width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(1,568,557)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:296.45pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"><b>Balance, June 30, 2024</b></p> </td><td style="width:106.3pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt;text-align:right"><span style="font-size:10pt"><b>305,025</b></span></p> </td></tr> </table>
CY2024 fil Disposal Of2024 Settlement Warrants
DisposalOf2024SettlementWarrants
1568557 cad
CY2021Q2 ifrs-full Intangible Assets Other Than Goodwill
IntangibleAssetsOtherThanGoodwill
409913 cad
CY2022 fil Fair Value Changes Of Derivative Liability Conversion Feature
FairValueChangesOfDerivativeLiabilityConversionFeature
-153155 cad
CY2022 fil Fair Value Allocated On Conversion Of Debentures
FairValueAllocatedOnConversionOfDebentures
-256758 cad
CY2022 fil Fair Value Of Derivative Liability On Date Of Issuance
FairValueOfDerivativeLiabilityOnDateOfIssuance
1237681 cad
CY2022Q2 ifrs-full Intangible Assets Other Than Goodwill
IntangibleAssetsOtherThanGoodwill
286997 cad
CY2023 fil Fair Value Of Derivative Liability On Date Of Issuance
FairValueOfDerivativeLiabilityOnDateOfIssuance
1388790 cad
CY2023Q2 ifrs-full Intangible Assets Other Than Goodwill
IntangibleAssetsOtherThanGoodwill
1922246 cad
CY2024 fil Fair Value Of Derivative Liability On Date Of Issuance
FairValueOfDerivativeLiabilityOnDateOfIssuance
2333515 cad
CY2024Q2 ifrs-full Intangible Assets Other Than Goodwill
IntangibleAssetsOtherThanGoodwill
305025 cad
CY2023Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
820612 cad
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
773891 cad
CY2024 fil Increase Decrease In Flow Through Share Liability
IncreaseDecreaseInFlowThroughShareLiability
-3637149 cad
fil Eligible Expenditures For The Flow Through Share Liability
EligibleExpendituresForTheFlowThroughShareLiability
2457316 cad
fil Premium On Flow Through Shares
PremiumOnFlowThroughShares
1159632 cad
CY2024Q2 fil Flow Through Share Liability
FlowThroughShareLiability
2477517 cad
CY2024 fil Increase Decrease In Flow Through Share Liability
IncreaseDecreaseInFlowThroughShareLiability
-3637149 cad
CY2024 fil Premium On Flow Through Shares
PremiumOnFlowThroughShares
-1159632 cad
CY2024Q2 fil Flow Through Share Liability
FlowThroughShareLiability
2477517 cad
CY2024 ifrs-full Disclosure Of Share Capital Reserves And Other Equity Interest Explanatory
DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>13. Share Capital</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><i>Authorized share capital</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">The Company is authorized to issue an unlimited number of common shares without par value. Common shares issued and outstanding as at June 30, 2024, 2023 and 2022 are as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <table style="border-collapse:collapse;width:90.76%"><tr style="height:7.2pt"><td style="width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>Number of common shares</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>Amount</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>#</b></p> </td><td style="width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>$</b></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2021</b></p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>13,010,176</b></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>5,750,252</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on initial public offering</p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">3,680,000</p> </td><td style="width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">34,988,520</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Share issue costs </p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;color:#000000;text-align:right">(4,233,129)</p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on conversion of debentures </p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">751,163</p> </td><td style="width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">857,399</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on vested RSUs</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">240,000</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">1,950,645</p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued from the exercise of warrants</p> </td><td style="width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">243,419</p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">419,946</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2022</b></p> </td><td style="background-color:#D3F0FE;width:79.2pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>17,924,758</b></span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>39,733,633</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on debt settlement</p> </td><td style="width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">240,000</span></p> </td><td style="width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">800,366</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued from the exercise of warrants</p> </td><td style="background-color:#D3F0FE;width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">21,052</span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">36,774</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2023</b></p> </td><td style="width:79.2pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>18,185,810</b></span></p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>40,570,773</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on private placement financing</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">2,133,979</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">7,707,292</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Flow-through premium </p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;color:#000000;text-align:right">-</p> </td><td style="width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;color:#000000;text-align:right"><span style="font-size:10pt">(3,637,149)</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Share issue costs</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;color:#000000;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;color:#000000;text-align:right"><span style="font-size:10pt">(355,016)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued per agreements</p> </td><td style="width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">3,886,276</span></p> </td><td style="width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">3,934,189</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued per option agreements</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">1,500,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">1,728,380</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on vested RSUs</p> </td><td style="width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">60,000</span></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">179,505</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2024</b></p> </td><td style="background-color:#D3F0FE;width:79.2pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>25,766,065</b></span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>50,127,974</b></span></p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>13. Share Capital (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><i>Share capital transactions for the year ended June 30, 2022</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">a)</kbd>On November 23, 2021, the Company completed the IPO through the issuance of 3,680,000 common shares, including 480,000 common shares issued under the underwriters’ over-allotment option, at a price of $9.51 (USD $7.50) per share for gross proceeds of $34,988,520 (USD $27,600,000). In connection with the IPO, the Company granted the underwriters 184,000 Finders’ Warrants with each Finders’ Warrant exercisable into one common share of the Company at the price of USD $9.375 until November 19, 2026. In addition, the Company paid total issuance costs of $2,995,448 comprised of (i) a cash commission of $2,624,139 to the underwriters, (ii) underwriters’ fees of $304,248, and (iii) other closing expenses of $67,061.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">b)</kbd>On November 23, 2021, the Company also issued 751,163 common shares for the conversion of all outstanding Debentures at a conversion price of $1.25 per common share. The total amount of $863,294 was transferred from derivative liabilities to share capital.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">c)</kbd>On January 9, 2022, the Company issued 240,000 common shares as a result of the vesting of RSUs. These common shares were valued at an amount of $1,950,645. See Note 14 for more details.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">d)</kbd>During the year ended June 30, 2022, 243,419 common shares were issued as a result of the exercise of Warrants for cash proceeds of $365,114.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><i>Share capital transactions for the year ended June 30, 2023</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">e)</kbd>On January 25, 2023, the Company issued 240,000 common shares with a fair value of $800,366 to settle a debt (the “Shares-for-Debt Settlement”) of USD $480,000 owed by a director to a third-party, in relation to services provided by the third-party related to the requisitioning of a shareholders’ meeting, which the Company had agreed to complete the settlement on behalf of the director. As a result of the Shares-for-Debt Settlement, the Company recorded a loss on settlement of $157,501 on the consolidated statements of loss and comprehensive loss. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">f)</kbd>During the year ended June 30, 2023, 21,052 common shares were also issued as a result of the exercise of Warrants for cash proceeds of $31,578. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><i>Share capital transactions for the year ended June 30, 2024</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">g)</kbd>On September 21, 2023, the Company closed its best-efforts flow-through financing through the issuance of 2,133,979 common shares at a price of $3.6117 (USD $2.67) per common share, for gross proceeds of $7,707,292 (USD $5,697,710) (the “Offering”). In connection with the Offering, the Company issued 86,000 Agents’ Warrants at USD $2.67 per share with an expiry of five years and paid fees and expenses to various agents in the amount of $215,377.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">h)</kbd>On September 21, 2023, the Company also issued 21,276 common shares to a third-party pursuant to a letter agreement between the parties. These common shares were valued at $40,457, based on the Company’s closing share price on the date of issuance, and the amount was recorded as consulting fees on the consolidated statements of loss and comprehensive loss. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">i)</kbd>On October 20, 2023, the Company issued 40,000 common shares to a third-party pursuant to a marketing agreement. These common shares were valued at $51,986, based on the Company’s closing share price on the date of issuance, and the amount was recorded as consulting fees on the consolidated statements of loss and comprehensive loss. </p> <p style="font:11pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>13. Share Capital (continued) </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">j)</kbd>On February 8, 2024, the Company issued 500,000 common shares in connection with the Muskrat Dam Project option agreement. These common shares were valued at $733,615 based on the Company’s 30-day-volume-weighted-adjusted share price on the date of issuance. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">k)</kbd>On February 14, 2024, the Company issued 60,000 common shares upon the vesting of restricted share units valued at $179,505.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">l)</kbd>On February 20, 2024, the Company issued 325,000 common shares to 10152300 Manitoba LTD. pursuant to a debt settlement agreement for legal expenses between the parties. These common shares were valued at $426,155 based on the Company’s closing share price on the date of issuance. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">m)</kbd>On June 21, 2024, the Company issued 1,000,000 common shares pursuant to an agreement for the acquisition of the Black Lake Uranium Project. These common shares were valued at $994,765 based on the Company’s closing share price on the date of issuance. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:35.7pt;margin-right:-4.5pt;text-align:justify"><kbd style="position:absolute;font:10pt stHtmlOvrFontNm;margin-left:-17.85pt">n)</kbd>On June 28, 2024, the Company issued 3,500,000 common shares in consideration for the amendment and termination of the Muskrat Dam Option Agreement. These common shares were valued at $3,415,591 based on the Company’s closing share price on the date of issuance.  </p>
CY2024 ifrs-full Disclosure Of Number And Weighted Average Exercise Prices Of Share Options Explanatory
DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> <table style="border-collapse:collapse;width:90.76%"><tr style="height:7.2pt"><td style="width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>Number of common shares</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><b>Amount</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"> </p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>#</b></p> </td><td style="width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>$</b></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2021</b></p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>13,010,176</b></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right"><b>5,750,252</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on initial public offering</p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">3,680,000</p> </td><td style="width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">34,988,520</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Share issue costs </p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;color:#000000;text-align:right">(4,233,129)</p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on conversion of debentures </p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">751,163</p> </td><td style="width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">857,399</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on vested RSUs</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">240,000</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">1,950,645</p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued from the exercise of warrants</p> </td><td style="width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">243,419</p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:1.45pt;color:#000000;text-align:right">419,946</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2022</b></p> </td><td style="background-color:#D3F0FE;width:79.2pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>17,924,758</b></span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>39,733,633</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on debt settlement</p> </td><td style="width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">240,000</span></p> </td><td style="width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">800,366</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued from the exercise of warrants</p> </td><td style="background-color:#D3F0FE;width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">21,052</span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">36,774</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2023</b></p> </td><td style="width:79.2pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>18,185,810</b></span></p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>40,570,773</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on private placement financing</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">2,133,979</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">7,707,292</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Flow-through premium </p> </td><td style="width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;color:#000000;text-align:right">-</p> </td><td style="width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;color:#000000;text-align:right"><span style="font-size:10pt">(3,637,149)</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Share issue costs</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;color:#000000;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;color:#000000;text-align:right"><span style="font-size:10pt">(355,016)</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued per agreements</p> </td><td style="width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">3,886,276</span></p> </td><td style="width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">3,934,189</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued per option agreements</p> </td><td style="background-color:#D3F0FE;width:79.2pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">1,500,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">1,728,380</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:273.55pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000">Shares issued on vested RSUs</p> </td><td style="width:79.2pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">60,000</span></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt">179,505</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:273.55pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000"><b>Balance, June 30, 2024</b></p> </td><td style="background-color:#D3F0FE;width:79.2pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>25,766,065</b></span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:right"><span style="font-size:10pt"><b>50,127,974</b></span></p> </td></tr> </table>
CY2021Q4 fil Options Granted Shares
OptionsGrantedShares
1269386 shares
CY2021Q4 ifrs-full Exercise Price Of Outstanding Share Options2019
ExercisePriceOfOutstandingShareOptions2019
7.5
CY2021Q4 ifrs-full Description Of Expected Volatility Share Options Granted
DescriptionOfExpectedVolatilityShareOptionsGranted
1 pure
CY2021Q4 ifrs-full Expected Dividend As Percentage Share Options Granted
ExpectedDividendAsPercentageShareOptionsGranted
0 pure
CY2021Q4 ifrs-full Description Of Risk Free Interest Rate Share Options Granted
DescriptionOfRiskFreeInterestRateShareOptionsGranted
0.0147 pure
CY2021Q4 ifrs-full Tax Rate Effect From Change In Tax Rate
TaxRateEffectFromChangeInTaxRate
0.20 pure
CY2021Q4 fil Expected Life
ExpectedLife
P5Y
CY2021Q4 fil Fair Value Attributable
FairValueAttributable
7167552 cad
CY2023 fil Stockbased Compensations
StockbasedCompensations
848520 cad
CY2022 fil Stockbased Compensations
StockbasedCompensations
6084861 cad
CY2023Q1 fil Options Granted Shares
OptionsGrantedShares
350000 shares
CY2023Q1 ifrs-full Exercise Price Of Outstanding Share Options2019
ExercisePriceOfOutstandingShareOptions2019
2.5
CY2023Q1 ifrs-full Description Of Expected Volatility Share Options Granted
DescriptionOfExpectedVolatilityShareOptionsGranted
1.13 pure
CY2023Q1 ifrs-full Expected Dividend As Percentage Share Options Granted
ExpectedDividendAsPercentageShareOptionsGranted
0 pure
CY2023Q1 ifrs-full Description Of Risk Free Interest Rate Share Options Granted
DescriptionOfRiskFreeInterestRateShareOptionsGranted
0.0304 pure
CY2023Q1 ifrs-full Tax Rate Effect From Change In Tax Rate
TaxRateEffectFromChangeInTaxRate
0.20 pure
CY2023Q1 fil Expected Life
ExpectedLife
P5Y
CY2023Q1 fil Fair Value Attributable
FairValueAttributable
666746 cad
CY2023Q3 fil Options Granted Shares
OptionsGrantedShares
250000 shares
CY2023Q3 ifrs-full Exercise Price Of Outstanding Share Options2019
ExercisePriceOfOutstandingShareOptions2019
2.25
CY2023Q3 ifrs-full Description Of Expected Volatility Share Options Granted
DescriptionOfExpectedVolatilityShareOptionsGranted
1.50 pure
CY2023Q3 ifrs-full Expected Dividend As Percentage Share Options Granted
ExpectedDividendAsPercentageShareOptionsGranted
0 pure
CY2023Q3 ifrs-full Description Of Risk Free Interest Rate Share Options Granted
DescriptionOfRiskFreeInterestRateShareOptionsGranted
0.043 pure
CY2023Q3 ifrs-full Tax Rate Effect From Change In Tax Rate
TaxRateEffectFromChangeInTaxRate
0.20 pure
CY2023Q3 fil Expected Life
ExpectedLife
P3Y
CY2023Q3 fil Fair Value Attributable
FairValueAttributable
447577 cad
CY2023Q3 fil Stockbased Compensations
StockbasedCompensations
361081 cad
CY2024 ifrs-full Disclosure Of Range Of Exercise Prices Of Outstanding Share Options Explanatory
DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory
<p style="font:11pt stHtmlOvrFontNm;margin:0"></p> <table style="border-collapse:collapse;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:201.6pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>Date of expiry</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Number of </b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>warrants outstanding</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Exercise price</b></p> </td><td style="width:90pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Weighted average remaining contractual life</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:201.6pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>#</b></p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:90pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Years</b></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">October 2, 2024</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">100,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 2.00</span></p> </td><td style="background-color:#D3F0FE;width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">0.26</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">October 2, 2024</p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">100,000</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 2.50</span></p> </td><td style="width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">0.26</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">October 2, 2024</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">100,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 3.00</span></p> </td><td style="background-color:#D3F0FE;width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">0.26</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">February 17, 2025</p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">75,000</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 3.00</span></p> </td><td style="width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">0.63</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">February 17, 2025</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">75,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 4.00</span></p> </td><td style="background-color:#D3F0FE;width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">0.63</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">February 17, 2025</p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">75,000</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 5.00</span></p> </td><td style="width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">0.63</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">March 31, 2026</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">500,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 2.50</span></p> </td><td style="background-color:#D3F0FE;width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">1.75</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:201.6pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">November 19, 2026</p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">184,000</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 9.375</span></p> </td><td style="width:90pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">2.40</span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:201.6pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">September 21, 2028</p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">86,000</span></p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">USD 2.67</span></p> </td><td style="background-color:#D3F0FE;width:90pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">4.23</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:201.6pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:72pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>1,295,000</b></span></p> </td><td style="width:72pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>5.13</b></span></p> </td><td style="width:90pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>1.47</b></span></p> </td></tr> </table>
CY2024 ifrs-full Disclosure Of Earnings Per Share Explanatory
DisclosureOfEarningsPerShareExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>17. Basic and Diluted Loss per Share</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The calculations of basic and diluted loss per share for the year ended June 30, 2024, were based on the net loss of $6,850,918 (2023 – net loss of $15,462,945; 2022 – net loss of $9,446,454) and the weighted average number of basic and diluted common shares outstanding of 20,238,794 (2023 – 18,033,851; 2022 – 15,884,041).</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0">The details of the computation of basic and diluted loss per share are as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <table style="border-collapse:collapse;width:432.3pt"><tr style="height:7.2pt"><td style="width:248.1pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:56.7pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>2024</b></p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2023</p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:56.7pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt"><b>Net Loss for the year</b></span></p> </td><td style="background-color:#D3F0FE;width:56.7pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><b>(6,850,918)</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(15,462,945)</p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(9,446,454)</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:56.7pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>#</b></p> </td><td style="width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">#</p> </td><td style="width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">#</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Basic weighted-average number of shares outstanding</span></p> </td><td style="background-color:#D3F0FE;width:56.7pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>20,238,794</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">18,033,851</p> </td><td style="background-color:#D3F0FE;width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">15,884,041</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Assumed conversion of dilutive stock options and warrants</span></p> </td><td style="width:56.7pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><b>-</b></p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Diluted weighted-average number of shares outstanding</span></p> </td><td style="background-color:#D3F0FE;width:56.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>20,238,794</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">18,033,851</p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">15,884,041</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:56.7pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt"><b>Basic and diluted loss per share</b></span></p> </td><td style="background-color:#D3F0FE;width:56.7pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><b>(0.34)</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(0.85)</p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(0.60)</p> </td></tr> </table>
CY2024 ifrs-full Profit Loss Attributable To Owners Of Parent
ProfitLossAttributableToOwnersOfParent
6850918 cad
CY2023 ifrs-full Profit Loss Attributable To Owners Of Parent
ProfitLossAttributableToOwnersOfParent
15462945 cad
CY2022 ifrs-full Profit Loss Attributable To Owners Of Parent
ProfitLossAttributableToOwnersOfParent
9446454 cad
CY2024 ifrs-full Adjusted Weighted Average Shares
AdjustedWeightedAverageShares
20238794 shares
CY2023 ifrs-full Adjusted Weighted Average Shares
AdjustedWeightedAverageShares
18033851 shares
CY2022 ifrs-full Adjusted Weighted Average Shares
AdjustedWeightedAverageShares
15884041 shares
CY2024 ifrs-full Earnings Per Share Explanatory
EarningsPerShareExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <table style="border-collapse:collapse;width:432.3pt"><tr style="height:7.2pt"><td style="width:248.1pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:56.7pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>2024</b></p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2023</p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:56.7pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt"><b>Net Loss for the year</b></span></p> </td><td style="background-color:#D3F0FE;width:56.7pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><b>(6,850,918)</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(15,462,945)</p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(9,446,454)</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:56.7pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>#</b></p> </td><td style="width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">#</p> </td><td style="width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">#</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Basic weighted-average number of shares outstanding</span></p> </td><td style="background-color:#D3F0FE;width:56.7pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>20,238,794</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">18,033,851</p> </td><td style="background-color:#D3F0FE;width:63.75pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">15,884,041</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Assumed conversion of dilutive stock options and warrants</span></p> </td><td style="width:56.7pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><b>-</b></p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="width:63.75pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Diluted weighted-average number of shares outstanding</span></p> </td><td style="background-color:#D3F0FE;width:56.7pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>20,238,794</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">18,033,851</p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">15,884,041</p> </td></tr> <tr style="height:7.2pt"><td style="width:248.1pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:56.7pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:63.75pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:248.1pt;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt"><b>Basic and diluted loss per share</b></span></p> </td><td style="background-color:#D3F0FE;width:56.7pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><b>(0.34)</b></p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(0.85)</p> </td><td style="background-color:#D3F0FE;width:63.75pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(0.60)</p> </td></tr> </table>
CY2024 ifrs-full Other Adjustments To Reconcile Profit Loss
OtherAdjustmentsToReconcileProfitLoss
-6850918 cad
CY2023 ifrs-full Other Adjustments To Reconcile Profit Loss
OtherAdjustmentsToReconcileProfitLoss
-15462945 cad
CY2022 ifrs-full Other Adjustments To Reconcile Profit Loss
OtherAdjustmentsToReconcileProfitLoss
-9446454 cad
CY2024 ifrs-full Weighted Average Shares
WeightedAverageShares
20238794 shares
CY2023 ifrs-full Weighted Average Shares
WeightedAverageShares
18033851 shares
CY2022 ifrs-full Weighted Average Shares
WeightedAverageShares
15884041 shares
CY2024 ifrs-full Dilutive Effect Of Share Options On Number Of Ordinary Shares
DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares
0 shares
CY2023 ifrs-full Dilutive Effect Of Share Options On Number Of Ordinary Shares
DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares
0 shares
CY2022 ifrs-full Dilutive Effect Of Share Options On Number Of Ordinary Shares
DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares
0 shares
CY2024 ifrs-full Adjusted Weighted Average Shares
AdjustedWeightedAverageShares
20238794 shares
CY2023 ifrs-full Adjusted Weighted Average Shares
AdjustedWeightedAverageShares
18033851 shares
CY2022 ifrs-full Adjusted Weighted Average Shares
AdjustedWeightedAverageShares
15884041 shares
CY2024 ifrs-full Basic Earnings Loss Per Share
BasicEarningsLossPerShare
-0.34
CY2023 ifrs-full Basic Earnings Loss Per Share
BasicEarningsLossPerShare
-0.85
CY2022 ifrs-full Basic Earnings Loss Per Share
BasicEarningsLossPerShare
-0.6
CY2024 ifrs-full Disclosure Of Related Party Explanatory
DisclosureOfRelatedPartyExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>18. Related Party Transactions</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">In accordance with IAS 24 – Related Party Disclosures, key management personnel, including companies controlled by them, are those persons having authority and responsibility for planning, directing and controlling the activities of the Company directly or indirectly, including any directors (executive and non-executive) of the Company. The remuneration of directors and key executives is determined by the compensation committee of the Board.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">The remuneration of directors and other members of key management personnel during the years ended June 30, 2024, 2023 and 2022 were as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:11pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"></p> <table style="border-collapse:collapse;width:431.15pt;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:197.25pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>2024</b></span></p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">2023</span></p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:197.25pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:28.35pt"> </p> </td><td style="width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:197.25pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Directors’ and officers’ consulting fees</span></p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>877,362</b></p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">951,347</p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">687,585</p> </td></tr> <tr style="height:7.2pt"><td style="width:197.25pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Cash payment</span></p> </td><td style="width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>-</b></p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">334,738</p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:197.25pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Exploration and evaluation expenditures</span></p> </td><td style="background-color:#D3F0FE;width:106.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>134,764</b></p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">415,325</p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">220,765</p> </td></tr> <tr style="height:7.2pt"><td style="width:197.25pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Addendum payments</span></p> </td><td style="width:106.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><b>-</b></p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2,554,830</p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:197.25pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"></td><td style="background-color:#D3F0FE;width:106.3pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1,012,126</b></p> </td><td style="background-color:#D3F0FE;width:63.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">4,256,240</p> </td><td style="background-color:#D3F0FE;width:63.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">908,350</p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Directors’ and officers’ consulting fees</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, fees of $317,973 (2023 – $492,377; 2022 - $585,615) included in directors’ and officers’ consulting fees had been paid to companies controlled by officers of the Company.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Cash payment</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2023, a payment of USD $250,000 ($334,738) (2022 - $nil) had been paid to a director of the Company.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Exploration and evaluation expenditures</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, fees of $134,764 (2023 – $415,325, 2022 - $220,765) for services rendered by the Company’s VP of Exploration and its former VP of Resources Development, had been capitalized as E&amp;E assets on the consolidated statements of financial position.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Addendum payments</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">On November 1, 2022, the Company purported to amend the consulting agreements with the entities controlled by the former Chief Executive Officer (“CEO”) and the former Chief Operating Officer (“COO”) of Snow Lake, with an addendum which amended the termination clause of their respective agreements. As a result of the addendum, the Company recorded fees of $1,672,988 (USD $1,224,040) and $881,842 (USD $648,020), respectively, which are included in directors’ and officers’ consulting fees during the year ended June 30, 2023.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">On December 5, 2022, payout was made to the respective entities controlled by the former CEO and COO.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">As of June 30, 2024, the Company has made a claim against these former officers (see Note 22 for more details).</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Share-based compensation</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, the Company had granted certain RSUs and options to various directors and officers. Total stock-based compensation of $953,845 (2023 – $2,422,516; 2022 - $8,035,506) was recorded in connection with the vesting of these securities.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>18. Related Party Transactions (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Other related party transactions</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On January 25, 2023, the Company issued 240,000 common shares from the Shares-for-Debt Settlement. As a result of the Shares-for-Debt Settlement, the Company recorded a loss on settlement of $157,502 on the consolidated statements of loss and comprehensive loss for the year ended June 30, 2023. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As of August 9, 2023, 160,000 RSUs out of the 470,000 RSUs awarded on January 30, 2023 had met the milestones required to vest. On September 26, 2023, the Company paid $546,476 (USD $400,000) to redeem 160,000 of the vested RSUs at USD $2.50 each.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Related party balances</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">All related party balances, for services and business expense reimbursements rendered as at June 30, 2024, 2023 and 2022 are non-interest bearing and payable on demand, and are comprised of the following:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <table style="border-collapse:collapse;width:424pt;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:218.5pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>June 30, </b></p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>2024</b></span></p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"> 2023</span></p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2022</p> </td></tr> <tr style="height:7.2pt"><td style="width:218.5pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:28.35pt"> </p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:70.85pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:70.85pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:218.5pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Payable to officers and directors</span></p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>60,121</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">86,616</p> </td><td style="background-color:#D3F0FE;width:70.85pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">110,274</p> </td></tr> <tr style="height:7.2pt"><td style="width:218.5pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Payable (receivable) from Nova Minerals Ltd.</span></p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>81,023</b></p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(10,287)</p> </td><td style="width:70.85pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(10,287)</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:218.5pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"></td><td style="background-color:#D3F0FE;width:63.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>141,144</b></p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">76,329</p> </td><td style="background-color:#D3F0FE;width:70.85pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">99,987</p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">During the year ended June 30, 2024, Nova Minerals Ltd. charged the Company an amount of $220,348 (2023 – $nil; 2022 - $nil) for reimbursable legal fees, which are recorded as professional fees on the consolidated statements of loss and comprehensive loss.</p>
CY2024 fil Directors Officers Consulting Fee
DirectorsOfficersConsultingFee
877362 cad
CY2023 fil Directors Officers Consulting Fee
DirectorsOfficersConsultingFee
951347 cad
CY2022 fil Directors Officers Consulting Fee
DirectorsOfficersConsultingFee
687585 cad
CY2024 fil Cash Payment Related Party
CashPaymentRelatedParty
0 cad
CY2023 fil Cash Payment Related Party
CashPaymentRelatedParty
334738 cad
CY2022 fil Cash Payment Related Party
CashPaymentRelatedParty
0 cad
CY2024 fil Exploration And Evaluation Expenditure Related Parties
ExplorationAndEvaluationExpenditureRelatedParties
134764 cad
CY2023 fil Exploration And Evaluation Expenditure Related Parties
ExplorationAndEvaluationExpenditureRelatedParties
415325 cad
CY2022 fil Exploration And Evaluation Expenditure Related Parties
ExplorationAndEvaluationExpenditureRelatedParties
220765 cad
CY2024 fil Addendum Payments Related Party
AddendumPaymentsRelatedParty
0 cad
CY2023 fil Addendum Payments Related Party
AddendumPaymentsRelatedParty
2554830 cad
CY2022 fil Addendum Payments Related Party
AddendumPaymentsRelatedParty
0 cad
CY2024 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1012126 cad
CY2023 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
4256240 cad
CY2022 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
908350 cad
CY2024 ifrs-full Revenue From Rendering Of Information Technology Consulting Services
RevenueFromRenderingOfInformationTechnologyConsultingServices
317973 cad
CY2023 ifrs-full Revenue From Rendering Of Information Technology Consulting Services
RevenueFromRenderingOfInformationTechnologyConsultingServices
492377 cad
CY2022 ifrs-full Revenue From Rendering Of Information Technology Consulting Services
RevenueFromRenderingOfInformationTechnologyConsultingServices
585615 cad
CY2023 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
250000 usd
CY2024Q2 ifrs-full Tangible Exploration And Evaluation Assets
TangibleExplorationAndEvaluationAssets
134764 cad
CY2023Q2 ifrs-full Tangible Exploration And Evaluation Assets
TangibleExplorationAndEvaluationAssets
415325 cad
CY2022Q2 ifrs-full Tangible Exploration And Evaluation Assets
TangibleExplorationAndEvaluationAssets
220765 cad
CY2024 fil Addendum Payments Fees
AddendumPaymentsFees
1672988 cad
CY2024 fil Addendum Payments Fees Usd
AddendumPaymentsFeesUsd
1224040 usd
CY2023 fil Addendum Payments Fees
AddendumPaymentsFees
881842 cad
CY2023 fil Addendum Payments Fees Usd
AddendumPaymentsFeesUsd
648020 usd
CY2024 fil Stock Based Compensations
StockBasedCompensations
953845 cad
CY2023 fil Stock Based Compensations
StockBasedCompensations
2422516 cad
CY2022 fil Stock Based Compensations
StockBasedCompensations
8035506 cad
CY2023 fil Loss On Shares For Debt Settlement
LossOnSharesForDebtSettlement
157502 cad
CY2024 fil Payable To Nova Minerals Ltd
PayableToNovaMineralsLtd
60121 cad
CY2023 fil Payable To Nova Minerals Ltd
PayableToNovaMineralsLtd
86616 cad
CY2022 fil Payable To Nova Minerals Ltd
PayableToNovaMineralsLtd
110274 cad
CY2024 fil Receivable Payable To Nova Minerals Ltd
ReceivablePayableToNovaMineralsLtd
81023 cad
CY2023 fil Receivable Payable To Nova Minerals Ltd
ReceivablePayableToNovaMineralsLtd
-10287 cad
CY2022 fil Receivable Payable To Nova Minerals Ltd
ReceivablePayableToNovaMineralsLtd
-10287 cad
CY2024Q2 ifrs-full Amounts Payable Related Party Transactions
AmountsPayableRelatedPartyTransactions
141144 cad
CY2023Q2 ifrs-full Amounts Payable Related Party Transactions
AmountsPayableRelatedPartyTransactions
76329 cad
CY2022Q2 ifrs-full Amounts Payable Related Party Transactions
AmountsPayableRelatedPartyTransactions
99987 cad
CY2024 ifrs-full Disclosure Of Income Tax Explanatory
DisclosureOfIncomeTaxExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>19. Income Taxes</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0">The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 27% (2023 and 2022 – 27%) to the effective tax rate is as follows:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <table style="border-collapse:collapse;width:460.7pt"><tr style="height:7.2pt"><td style="width:255.15pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>June 30, </b></p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>2024</b></span></p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">June 30,</p> <p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"> 2023</span></p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">June 30, 2022</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:255.15pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:28.35pt"> </p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:63.8pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:255.15pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Net loss before income tax</span></p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(6,850,918)</p> </td><td style="background-color:#D3F0FE;width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(15,462,945)</p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(9,446,454)</p> </td></tr> <tr style="height:7.2pt"><td style="width:255.15pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Combined federal and provincial statutory income tax rates</span></p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">27%</p> </td><td style="width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">27%</p> </td><td style="width:63.8pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">27%</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:255.15pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Expected income tax recovery at statutory rates</span></p> </td><td style="background-color:#D3F0FE;width:63.8pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">1,849,748</p> </td><td style="background-color:#D3F0FE;width:77.95pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">4,174,995</p> </td><td style="background-color:#D3F0FE;width:63.8pt;border-top:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">2,550,543</p> </td></tr> <tr style="height:7.2pt"><td style="width:255.15pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Non-deductible differences</span></p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">1,195,284</p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(225,472)</p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(1,102,753)</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:255.15pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0">Flow through expenditures</p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(663,475)</p> </td><td style="background-color:#D3F0FE;width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="width:255.15pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0">True-up of prior year amounts</p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">578,598</p> </td><td style="width:77.95pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td><td style="width:63.8pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:255.15pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt">Change in unrecognized deductible temporary differences</span></p> </td><td style="background-color:#D3F0FE;width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(2,960,155)</p> </td><td style="background-color:#D3F0FE;width:77.95pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(3,949,523)</p> </td><td style="background-color:#D3F0FE;width:63.8pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(1,447,790)</p> </td></tr> <tr style="height:7.2pt"><td style="width:255.15pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0"><span style="font-size:10pt"><b>Total income tax recovery</b></span></p> </td><td style="width:63.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>-</b></p> </td><td style="width:77.95pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td><td style="width:63.8pt;border-top:0.5pt solid #000000;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">-</p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:18pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>19. Income Taxes (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Unrecognized deductible temporary differences</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0">The income tax benefit of the following deductible temporary differences has not been recorded in these financial statements because of the uncertainty of their recovery: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <table style="border-collapse:collapse;width:438.25pt;margin-left:22.5pt"><tr style="height:7.2pt"><td style="width:204.3pt;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:92.15pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>2024</b></span></p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">2023</span></p> </td><td style="width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">2022</span></p> </td></tr> <tr style="height:7.2pt"><td style="width:204.3pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:28.35pt"> </p> </td><td style="width:92.15pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">$</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:204.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Non-capital losses carried forward</span></p> </td><td style="background-color:#D3F0FE;width:92.15pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>7,155,193</b></p> </td><td style="background-color:#D3F0FE;width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">5,226,507</p> </td><td style="background-color:#D3F0FE;width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">1,110,151</p> </td></tr> <tr style="height:7.2pt"><td style="width:204.3pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Exploration and evaluation assets </span></p> </td><td style="width:92.15pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>916,213</b></p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(100,081)</p> </td><td style="width:70.9pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">(100,058)</p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:204.3pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-indent:-0.75pt"><span style="font-size:10pt">Other items </span></p> </td><td style="background-color:#D3F0FE;width:92.15pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>508,668</b></p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">493,493</p> </td><td style="background-color:#D3F0FE;width:70.9pt;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">660,396</p> </td></tr> <tr style="height:7.2pt"><td style="width:204.3pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"></td><td style="width:92.15pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>8,580,074</b></p> </td><td style="width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">5,619,919</p> </td><td style="width:70.9pt;border-top:0.5pt solid #000000;border-bottom:0.5pt solid #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right">1,670,489</p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><i>Non-capital losses carried forward</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company has non-capital tax losses available to reduce taxes in future years of approximately $26,500,000 (2023 – $19,357,000; 2022 - $4,112,000).  These losses have expiry dates between 2038 and 2044. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Tax attributes are subject to review, and potential adjustment, by tax authorities. </p>
CY2024 ifrs-full Profit Loss Before Tax
ProfitLossBeforeTax
-6850918 cad
CY2023 ifrs-full Profit Loss Before Tax
ProfitLossBeforeTax
-15462945 cad
CY2022 ifrs-full Profit Loss Before Tax
ProfitLossBeforeTax
-9446454 cad
CY2024 ifrs-full Average Effective Tax Rate
AverageEffectiveTaxRate
0.27 pure
CY2023 ifrs-full Average Effective Tax Rate
AverageEffectiveTaxRate
0.27 pure
CY2022 ifrs-full Average Effective Tax Rate
AverageEffectiveTaxRate
0.27 pure
CY2024 ifrs-full Tax Effect From Change In Tax Rate
TaxEffectFromChangeInTaxRate
1849748 cad
CY2023 ifrs-full Tax Effect From Change In Tax Rate
TaxEffectFromChangeInTaxRate
4174995 cad
CY2022 ifrs-full Tax Effect From Change In Tax Rate
TaxEffectFromChangeInTaxRate
2550543 cad
CY2024 ifrs-full Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss
TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss
1195284 cad
CY2023 ifrs-full Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss
TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss
-225472 cad
CY2022 ifrs-full Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss
TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss
-1102753 cad
CY2024 fil Flow Through Expenditures
FlowThroughExpenditures
-663475 cad
CY2023 fil Flow Through Expenditures
FlowThroughExpenditures
0 cad
CY2022 fil Flow Through Expenditures
FlowThroughExpenditures
0 cad
CY2024 fil True Up Of Prior Year Amounts
TrueUpOfPriorYearAmounts
578598 cad
CY2023 fil True Up Of Prior Year Amounts
TrueUpOfPriorYearAmounts
0 cad
CY2022 fil True Up Of Prior Year Amounts
TrueUpOfPriorYearAmounts
0 cad
CY2024 ifrs-full Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income
OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome
-2960155 cad
CY2023 ifrs-full Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income
OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome
-3949523 cad
CY2022 ifrs-full Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income
OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome
-1447790 cad
CY2024 ifrs-full Deferred Tax Expense Income
DeferredTaxExpenseIncome
0 cad
CY2023 ifrs-full Deferred Tax Expense Income
DeferredTaxExpenseIncome
0 cad
CY2022 ifrs-full Deferred Tax Expense Income
DeferredTaxExpenseIncome
0 cad
CY2024 ifrs-full Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences
DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences
7155193 cad
CY2023 ifrs-full Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences
DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences
5226507 cad
CY2022 ifrs-full Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences
DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences
1110151 cad
CY2024 ifrs-full Payments For Exploration And Evaluation Expenses
PaymentsForExplorationAndEvaluationExpenses
916213 cad
CY2023 ifrs-full Payments For Exploration And Evaluation Expenses
PaymentsForExplorationAndEvaluationExpenses
-100081 cad
CY2022 ifrs-full Payments For Exploration And Evaluation Expenses
PaymentsForExplorationAndEvaluationExpenses
-100058 cad
CY2024 ifrs-full Other Components Of Deferred Tax Expense Income
OtherComponentsOfDeferredTaxExpenseIncome
508668 cad
CY2023 ifrs-full Other Components Of Deferred Tax Expense Income
OtherComponentsOfDeferredTaxExpenseIncome
493493 cad
CY2022 ifrs-full Other Components Of Deferred Tax Expense Income
OtherComponentsOfDeferredTaxExpenseIncome
660396 cad
CY2024 ifrs-full Other Comprehensive Income Before Tax
OtherComprehensiveIncomeBeforeTax
8580074 cad
CY2023 ifrs-full Other Comprehensive Income Before Tax
OtherComprehensiveIncomeBeforeTax
5619919 cad
CY2022 ifrs-full Other Comprehensive Income Before Tax
OtherComprehensiveIncomeBeforeTax
1670489 cad
CY2024 ifrs-full Tax Effect Of Tax Losses
TaxEffectOfTaxLosses
26500000 cad
CY2023 ifrs-full Tax Effect Of Tax Losses
TaxEffectOfTaxLosses
19357000 cad
CY2022 ifrs-full Tax Effect Of Tax Losses
TaxEffectOfTaxLosses
4112000 cad
CY2024 ifrs-full Disclosure Of Financial Risk Management Explanatory
DisclosureOfFinancialRiskManagementExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>21. Financial Risks</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company is exposed to various risks as it relates to financial instruments. Management, in conjunction with the Board, mitigates these risks by assessing, monitoring and approving the Company’s risk management process. There have not been any changes in the nature of these risks or the process of managing these risks from the previous reporting periods.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Credit risk</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Credit risk is the risk of loss associated with a counterparty’s inability to fulfill its payment obligations. The Company’s credit risk is primarily attributable to cash and due from related party, which expose the Company to credit risk should the borrower default on maturity of the instruments. Cash is held with reputable chartered bank in Canada, which is closely monitored by management. Management believes that the credit risk concentration with respect to financial instruments included in cash and due from related party is minimal.</p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>21. Financial Risks (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Liquidity risk</i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Liquidity risk is the risk that the Company will not have sufficient cash resources to meet its financial obligations as they come due. The Company’s liquidity and operating results may be adversely affected if the Company’s access to the capital market is hindered, whether as a result of a downturn in stock market conditions generally or related to matters specific to the Company. The Company generates cash flow primarily from its financing and investing activities.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the Company had a cash balance of $2,526,957 (June 30, 2023 – $3,840,880; June 30, 2022 - $23,792,408) to settle current liabilities of $1,941,111 (June 30, 2023 – $3,883,529; June 30, 2022 - $1,780,877).</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024, the Company had the following contractual obligations:</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <table style="border-collapse:collapse;width:467.1pt"><tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"> </p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Less than 1 year</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1 to 3 years</b></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>3 to 5 years</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Total</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"> </p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Accounts payable and accrued liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">689,944</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>689,944</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Due to related parties</p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">141,144</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>141,144</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Lease liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">31,107</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>31,107</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Derivative liabilities</p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">305,025</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>305,025</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:186.3pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Other liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">773,891</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:64.8pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>773,891</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"><b>Total</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1,941,111</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1,941,111</b></p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company manages liquidity risk by maintaining adequate cash reserves and by continuously monitoring forecasts and actual cash flows for a rolling period of 12 months to identify financial requirements. Where insufficient liquidity may exist, the Company may pursue various debt and equity instruments for short or long-term financing of its operations. Management believes there is sufficient capital to meet short-term business obligations, after taking into account cash flow requirements from operations and the Company’s cash position as at June 30, 2024.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Flow-through obligations </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Pursuant to the terms of flow-through share agreements, the Company is also in the process of complying with its flow-through obligations to subscribers with respect to the Income Tax Act (Canada) requirements for flow-through shares. As of June 30, 2024, the Company had spent a total of $2,457,316 on eligible expenditures towards its flow-through obligations, with a remaining balance of $5,249,976 to be spent by December 31, 2024.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Interest rate risk </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. As at June 30, 2024, the Company had no hedging agreements in place with respect to floating interest rates. Management believes that the interest rate risk concentration with respect to financial instruments is minimal.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin-top:0pt;margin-bottom:8pt"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"><b>21. Financial Risks (continued)</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Foreign exchange risk </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Foreign exchange risk is the risk that the Company will be subject to foreign currency fluctuations in satisfying obligations related to its foreign activities. The Company has from time to time, financial instruments and transactions denominated in foreign currencies, notably in USD. The Company’s primary exposure to foreign exchange risk is that transactions denominated in foreign currency may expose the Company to the risk of exchange rate fluctuations. Based on its current operations, management believes that the foreign exchange risk remains minimal.</p> <p style="font:9pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"><i>Fair value </i></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">Fair value estimates of financial instruments are made at a specific point in time based on relevant information about financial markets and specific financial instruments. As these estimates are subjective in nature, involving uncertainties and matters of significant judgment, they cannot be determined with precision. Changes in assumptions can significantly affect estimated fair values.</p> <p style="font:8pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As at June 30, 2024 the Company’s financial instruments consisted of cash, due from related parties, accounts payable, due to related parties, lease liabilities, derivative liabilities and other liabilities. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The fair value of due from related party, accounts payable and due to related parties are approximately equal to their carrying value due to their short-term nature. The fair values of the lease liabilities approximate their carrying amounts as they were measured taking into consideration comparable instruments with similar risks in determining the rates at which to discount their amount in applying their respective measurement models.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company classifies fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:31.45pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.6pt">·</kbd>Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;margin-left:31.45pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.6pt">·</kbd>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 stHtmlOvrFontNm;margin:0;margin-left:31.5pt;text-align:justify"><kbd style="position:absolute;font:10pt Symbol;margin-left:-13.5pt">·</kbd>Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).  </p> <p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> <p style="font:11pt stHtmlOvrFontNm;margin:0"></p> <table style="border-collapse:collapse;width:446.4pt;margin-left:13.5pt"><tr style="height:12.2pt"><td style="width:158.4pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0"><i>June 30, 2024</i></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Level 1</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Level 2</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Level 3</b></p> </td><td style="width:72pt;border-bottom:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Total </b></p> </td></tr> <tr style="height:12.2pt"><td style="width:158.4pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0"> </p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;border-top:0.5pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td></tr> <tr style="height:12.2pt"><td style="background-color:#D3F0FE;width:158.4pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">Cash</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">2,526,957</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>2,526,957</b></span></p> </td></tr> <tr style="height:12.2pt"><td style="width:158.4pt" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">Derivative liabilities</p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt">(305,025)</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:72pt" valign="top"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><span style="font-size:10pt"><b>(305,025)</b></span></p> </td></tr> <tr style="height:12.2pt"><td style="background-color:#D3F0FE;width:158.4pt;border-bottom:3px double #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0">Other liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:3px double #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:3px double #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right">(773,891)</p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:3px double #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="background-color:#D3F0FE;width:72pt;border-bottom:3px double #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:-2.9pt;text-align:right"><b>(773,891)</b></p> </td></tr> </table> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">As at June 30, 2024, the Company’s financial instruments carried at fair value consisted of its cash, which is classified as Level 1, and its derivative liabilities and other liabilities, which have been classified as Level 2. There were no transfers between Levels 2 and 3 for recurring fair value measurements during the years ended June 30, 2024, 2023 and 2022. </p>
CY2024Q2 ifrs-full Cash And Cash Equivalents
CashAndCashEquivalents
2526957 cad
CY2023Q2 ifrs-full Cash And Cash Equivalents
CashAndCashEquivalents
3840880 cad
CY2022Q2 ifrs-full Cash And Cash Equivalents
CashAndCashEquivalents
23792408 cad
CY2024Q2 ifrs-full Current Liabilities
CurrentLiabilities
1941111 cad
CY2023Q2 ifrs-full Current Liabilities
CurrentLiabilities
3883529 cad
CY2022Q2 ifrs-full Current Liabilities
CurrentLiabilities
1780877 cad
CY2024 ifrs-full Maturity Analysis For Nonderivative Financial Liabilities
MaturityAnalysisForNonderivativeFinancialLiabilities
<table style="border-collapse:collapse;width:467.1pt"><tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"> </p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Less than 1 year</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1 to 3 years</b></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>3 to 5 years</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="top"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>Total</b></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"> </p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>$</b></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Accounts payable and accrued liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">689,944</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>689,944</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Due to related parties</p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">141,144</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>141,144</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Lease liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">31,107</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>31,107</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Derivative liabilities</p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">305,025</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>305,025</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="background-color:#D3F0FE;width:186.3pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="middle"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt">Other liabilities</p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt">773,891</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:64.8pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="bottom"><p style="font:11pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right"><span style="font-size:10pt">-</span></p> </td><td style="background-color:#D3F0FE;width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:1pt solid #000000" valign="middle"><p style="font:11pt stHtmlOvrFontNm;margin:0;text-align:right"><span style="font-size:10pt"><b>773,891</b></span></p> </td></tr> <tr style="height:7.2pt"><td style="width:186.3pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-indent:-18pt;margin-left:18pt"><b>Total</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1,941,111</b></p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="width:64.8pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;margin-right:2.9pt;text-align:right">-</p> </td><td style="width:72pt;padding-left:5.4pt;padding-right:5.4pt;border-bottom:3px double #000000" valign="bottom"><p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:right"><b>1,941,111</b></p> </td></tr> </table>
CY2024Q2 ifrs-full Trade And Other Current Payables
TradeAndOtherCurrentPayables
689944 cad
CY2024Q2 ifrs-full Trade And Other Payables To Related Parties
TradeAndOtherPayablesToRelatedParties
141144 cad
CY2024Q2 ifrs-full Loans Payable In Default
LoansPayableInDefault
31107 cad
CY2024Q2 ifrs-full Noncurrent Derivative Financial Liabilities
NoncurrentDerivativeFinancialLiabilities
305025 cad
CY2024Q2 ifrs-full Financial Liabilities
FinancialLiabilities
773891 cad
CY2024Q2 ifrs-full Current Liabilities
CurrentLiabilities
1941111 cad
CY2024Q2 ifrs-full Other Cash And Cash Equivalents
OtherCashAndCashEquivalents
2526957 cad
CY2024Q2 ifrs-full Noncurrent Derivative Financial Liabilities
NoncurrentDerivativeFinancialLiabilities
305025 cad
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
773891 cad
CY2024 ifrs-full Disclosure Of Commitments And Contingent Liabilities Explanatory
DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>22. Contingencies</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">The Company’s E&amp;E activities are subject to various laws and regulations governing the protection of the environment. These laws and regulations are continually changing and generally becoming more restrictive. As at June 30, 2024, the Company believes its operations are materially in compliance with all applicable laws and regulations. The Company expects to make future expenditures to comply with such laws and regulations.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">As of June 30, 2024, Snow Lake has made a claim against certain former directors of the Company and their holding companies for, among other things, breach of fiduciary duty as a result of, amongst other matters, of those directors approving changes to the consulting agreements between the former CEO and COO and their holding companies, for termination payments of USD $1,392,000 (to USD $1,872,000) during a time where it was clear that a change of control of the Company was imminent and increased the range of instances where they would be eligible for those payments. The Company takes the position that the amendments are void and that the former CEO and COO were not entitled to any payments under their consulting agreements. Snow Lake seeks to recover the payments made to the former CEO and COO.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify">As of the date of approval of these consolidated financial statements, all defendants have now filed Statements of Defence. All defendants have made counterclaims seeking indemnification for legal fees incurred in responding to this claim in relation to directors’ indemnity agreements they have with the Company. The Company takes the position that the defendants are not eligible for indemnity payments as a result of their breaches of fiduciary duties. The next step will be for the Company to file its Replies and Defences to Counterclaims, and then proceed to discovery. As at June 30, 2024, as the outcome of the claims remains uncertain, the Company had not recognized any contingent assets on the consolidated statements of financial position.</p> <p style="font:10pt stHtmlOvrFontNm;margin:0;color:#000000;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On July 13, 2023, the Company also filed an application against its former Manitoba law firm seeking to assess for reasonableness certain invoices of the law firm rendered between May 2022 and January 2023, as well as the repayment of any fees paid to the law firm which the Court finds to be unreasonable. During the year ended June 30, 2024, the Company received an aggregate amount of $150,000, relating to compensation against applications filed against certain former legal counsels.</p>
CY2024 ifrs-full Disclosure Of Events After Reporting Period Explanatory
DisclosureOfEventsAfterReportingPeriodExplanatory
<p style="font:10pt stHtmlOvrFontNm;margin:0"><b>23. Subsequent Events</b></p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On August 7, 2024, the Company issued 2,024,496 common shares in connection with our acquisition of the First Stage Interest with respect to the Engo Valley Uranium Project. </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify"> </p> <p style="font:10pt stHtmlOvrFontNm;margin:0;text-align:justify">On August 22, 2024, the Company entered into an ATM Sales Agreement, as amended on October 18, 2024, with ThinkEquity LLC (the “Agent”), as sales agent, pursuant to which the Company may offer and sell, from time to time through the Agent, up to US$2,900,000 of common shares of the Company. As of the date of these consolidated financial statements, the Company has sold 820,541 common shares for gross proceeds of USD $327,847. </p>

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