$litm 2022 Q2 20-F

Concept	2022 Q2	2022	2021 Q2
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$10.80M	$10.80M	$440.0K
YoY Change	2355.19%	2355.19%
% of Gross Profit
Research & Development	$33.73K	33.73K cads
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses	$10.89M	33.73K cads	$453.3K
YoY Change	2303.17%	-92.56%
Operating Profit
YoY Change
Interest Expense	$1.336M	11.07M cads	-$109.9K
YoY Change	-1315.46%	-10169.65%
% of Operating Profit
Other Income/Expense, Net	$109.8K	$109.8K	$10.74K
YoY Change	921.88%	921.88%
Pretax Income	-$9.446M	-$9.446M	-$552.4K
YoY Change	1609.95%	1609.95%
Income Tax
% Of Pretax Income
Net Earnings	-$9.446M	9.446M cads	-$552.4K
YoY Change	1609.95%	-1809.95%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share	-$594.7K	-$594.7K	-$30.96K
COMMON SHARES
Basic Shares Outstanding	17.92M shares
Diluted Shares Outstanding

Concept	2022 Q2	2022	2021 Q2
OPERATING ACTIVITIES
Net Income	-$9.446M	9.446M cads	-$552.4K
YoY Change	1609.95%	-1809.95%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities	-$868.4K	-$3.099M	-$287.0K
YoY Change	202.63%	752.58%
INVESTING ACTIVITIES
Capital Expenditures	-$5.655M	-$5.979M	-$223.7K
YoY Change	2428.23%	2109.23%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$5.655M	-$5.979M	-$223.7K
YoY Change	2428.23%	2109.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$4.880K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-463.4K	32.55M	777.2K
YoY Change	-159.63%	3919.34%
NET CHANGE
Cash From Operating Activities	-868.4K	-3.099M	-287.0K
Cash From Investing Activities	-5.655M	-5.979M	-223.7K
Cash From Financing Activities	-463.4K	32.55M	777.2K
Net Change In Cash	-6.987M	23.47M	266.6K
YoY Change	-2721.25%	13256.22%
FREE CASH FLOW
Cash From Operating Activities	-$868.4K	-$3.099M	-$287.0K
Capital Expenditures	-$5.655M	-$5.979M	-$223.7K
Free Cash Flow	$4.787M	$2.880M	-$63.27K
YoY Change	-7665.61%	-3202.79%

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022	dei	Document Type DocumentType	20-F
CY2022	dei	Document Registration Statement DocumentRegistrationStatement	false
CY2022	dei	Document Annual Report DocumentAnnualReport	true
CY2022	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
CY2022	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--06-30
CY2022	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022	dei	Document Transition Report DocumentTransitionReport	false
CY2022	dei	Document Shell Company Report DocumentShellCompanyReport	false
CY2022	dei	Entity File Number EntityFileNumber	001-41085
CY2022	dei	Entity Registrant Name EntityRegistrantName	Snow Lake Resources Ltd.
CY2022	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	A2
CY2022	dei	Entity Address Address Line1 EntityAddressAddressLine1	242 Hargrave St #1700
CY2022	dei	Entity Address City Or Town EntityAddressCityOrTown	Winnipeg
CY2022	dei	Entity Address Country EntityAddressCountry	CA
CY2022	dei	Security12b Title Security12bTitle	Common Shares, no par value
CY2022	dei	Trading Symbol TradingSymbol	LITM
CY2022	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2022Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	17924758	shares
CY2022	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2022	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2022	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2022	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2022	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	false
CY2022	dei	Entity Shell Company EntityShellCompany	false
CY2022	dei	Auditor Name AuditorName	De Visser Gray LLP
CY2022	dei	Auditor Location AuditorLocation	Vancouver, Canada
CY2022Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	23792408	cad
CY2021Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	318844	cad
CY2022Q2	ifrs-full	Current Receivables From Sale Of Properties CurrentReceivablesFromSaleOfProperties	294164	cad
CY2021Q2	ifrs-full	Current Receivables From Sale Of Properties CurrentReceivablesFromSaleOfProperties	10644	cad
CY2022Q2	ifrs-full	Current Prepaid Expenses CurrentPrepaidExpenses	932150	cad
CY2021Q2	ifrs-full	Current Prepaid Expenses CurrentPrepaidExpenses	67973	cad
CY2022Q2	ifrs-full	Trade And Other Current Receivables Due From Related Parties TradeAndOtherCurrentReceivablesDueFromRelatedParties	10287	cad
CY2022Q2	ifrs-full	Current Assets CurrentAssets	25029009	cad
CY2021Q2	ifrs-full	Current Assets CurrentAssets	397461	cad
CY2022Q2	ifrs-full	Other Noncurrent Financial Assets OtherNoncurrentFinancialAssets	12077584	cad
CY2021Q2	ifrs-full	Other Noncurrent Financial Assets OtherNoncurrentFinancialAssets	5730224	cad
CY2022Q2	ifrs-full	Assets Assets	37106593	cad
CY2021Q2	ifrs-full	Assets Assets	6127685	cad
CY2022Q2	ifrs-full	Trade And Other Current Payables TradeAndOtherCurrentPayables	1182449	cad
CY2021Q2	ifrs-full	Trade And Other Current Payables TradeAndOtherCurrentPayables	262125	cad
CY2022Q2	ifrs-full	Trade And Other Current Payables To Related Parties TradeAndOtherCurrentPayablesToRelatedParties	110274	cad
CY2021Q2	ifrs-full	Trade And Other Current Payables To Related Parties TradeAndOtherCurrentPayablesToRelatedParties	279642	cad
CY2022Q2	ifrs-full	Shortterm Borrowings ShorttermBorrowings	201157	cad
CY2021Q2	ifrs-full	Notes And Debentures Issued NotesAndDebenturesIssued	423139	cad
CY2022Q2	ifrs-full	Current Derivative Financial Liabilities CurrentDerivativeFinancialLiabilities	286997	cad
CY2021Q2	ifrs-full	Current Derivative Financial Liabilities CurrentDerivativeFinancialLiabilities	409913	cad
CY2022Q2	ifrs-full	Liabilities Liabilities	1780877	cad
CY2021Q2	ifrs-full	Liabilities Liabilities	1374819	cad
CY2022Q2	ifrs-full	Issued Capital IssuedCapital	39733633	cad
CY2021Q2	ifrs-full	Issued Capital IssuedCapital	5750252	cad
CY2022Q2	ifrs-full	Capital Redemption Reserve CapitalRedemptionReserve	6067323	cad
CY2022	ifrs-full	Brokerage Fee Expense BrokerageFeeExpense	236926	cad
CY2021	ifrs-full	Brokerage Fee Expense BrokerageFeeExpense	22244	cad
CY2021Q2	ifrs-full	Capital Redemption Reserve CapitalRedemptionReserve	1154905	cad
CY2022Q2	ifrs-full	Other Reserves OtherReserves	70295	cad
CY2021Q2	ifrs-full	Other Reserves OtherReserves	119233	cad
CY2022Q2	ifrs-full	Retained Earnings RetainedEarnings	-10545535	cad
CY2021Q2	ifrs-full	Retained Earnings RetainedEarnings	-2271524	cad
CY2022Q2	ifrs-full	Equity Equity	35325716	cad
CY2021Q2	ifrs-full	Equity Equity	4752866	cad
CY2022Q2	ifrs-full	Equity And Liabilities EquityAndLiabilities	37106593	cad
CY2021Q2	ifrs-full	Equity And Liabilities EquityAndLiabilities	6127685	cad
CY2022	litm	Stockbased Compensation StockbasedCompensation	8035506	cad
CY2022	ifrs-full	Professional Fees Expense ProfessionalFeesExpense	698209	cad
CY2021	ifrs-full	Professional Fees Expense ProfessionalFeesExpense	174211	cad
CY2020	ifrs-full	Professional Fees Expense ProfessionalFeesExpense	57272	cad
CY2022	litm	Directors And Officers Consulting Fees DirectorsAndOfficersConsultingFees	687585	cad
CY2021	litm	Directors And Officers Consulting Fees DirectorsAndOfficersConsultingFees	200858	cad
CY2020	litm	Directors And Officers Consulting Fees DirectorsAndOfficersConsultingFees	118700	cad
CY2022	ifrs-full	Insurance Service Expenses From Insurance Contracts Issued InsuranceServiceExpensesFromInsuranceContractsIssued	681504	cad
CY2020	ifrs-full	Brokerage Fee Expense BrokerageFeeExpense	3885	cad
CY2022	litm	Consulting Fees ConsultingFees	220890	cad
CY2021	litm	Consulting Fees ConsultingFees	34399	cad
CY2020	litm	Consulting Fees ConsultingFees	43255	cad
CY2022	ifrs-full	Gains Losses On Disposals Of Property Plant And Equipment GainsLossesOnDisposalsOfPropertyPlantAndEquipment	-167873	cad
CY2021	ifrs-full	Gains Losses On Disposals Of Property Plant And Equipment GainsLossesOnDisposalsOfPropertyPlantAndEquipment	-140264	cad
CY2022	ifrs-full	General And Administrative Expense GeneralAndAdministrativeExpense	129415	cad
CY2021	ifrs-full	General And Administrative Expense GeneralAndAdministrativeExpense	8254	cad
CY2020	ifrs-full	General And Administrative Expense GeneralAndAdministrativeExpense	20626	cad
CY2022	ifrs-full	Travel Expense TravelExpense	112074	cad
CY2020	ifrs-full	Travel Expense TravelExpense	957	cad
CY2022	litm	Amortization Of Transaction Costs AmortizationOfTransactionCosts	56512	cad
CY2021	litm	Amortization Of Transaction Costs AmortizationOfTransactionCosts	13284	cad
CY2022	ifrs-full	Research And Development Expense ResearchAndDevelopmentExpense	33733	cad
CY2022	ifrs-full	Bank And Similar Charges BankAndSimilarCharges	9343	cad
CY2021	ifrs-full	Bank And Similar Charges BankAndSimilarCharges	2084	cad
CY2020	ifrs-full	Bank And Similar Charges BankAndSimilarCharges	2669	cad
CY2022	ifrs-full	Interest Expense InterestExpense	11069570	cad
CY2021	ifrs-full	Interest Expense InterestExpense	595598	cad
CY2020	ifrs-full	Interest Expense InterestExpense	247364	cad
CY2022	ifrs-full	Gains Losses On Change In Fair Value Of Derivatives GainsLossesOnChangeInFairValueOfDerivatives	1103839	cad
CY2021	ifrs-full	Gains Losses On Change In Fair Value Of Derivatives GainsLossesOnChangeInFairValueOfDerivatives	32676	cad
CY2022	ifrs-full	Income Tax Expense Continuing Operations IncomeTaxExpenseContinuingOperations	-109745	cad
CY2021	litm	Recovery Of Accounts Payable RecoveryOfAccountsPayable	-10740	cad
CY2020	litm	Recovery Of Flow Through Share Liability RecoveryOfFlowThroughShareLiability	-71249	cad
CY2022	ifrs-full	Foreign Exchange Loss ForeignExchangeLoss	-409532	cad
CY2021	ifrs-full	Foreign Exchange Loss ForeignExchangeLoss	254	cad
CY2020	ifrs-full	Foreign Exchange Loss ForeignExchangeLoss	6001	cad
CY2022	ifrs-full	Other Income OtherIncome	1623116	cad
CY2021	ifrs-full	Other Income OtherIncome	43162	cad
CY2020	ifrs-full	Other Income OtherIncome	65248	cad
CY2022	ifrs-full	Comprehensive Income ComprehensiveIncome	-9446454	cad
CY2021	ifrs-full	Comprehensive Income ComprehensiveIncome	-552436	cad
CY2020	ifrs-full	Comprehensive Income ComprehensiveIncome	-182116	cad
CY2022	ifrs-full	Weighted Average Shares WeightedAverageShares	15884041	shares
CY2021	ifrs-full	Weighted Average Shares WeightedAverageShares	13008669	shares
CY2020	ifrs-full	Weighted Average Shares WeightedAverageShares	13007995	shares
CY2022	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.6
CY2021	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.04
CY2020	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.01
CY2019Q2	ifrs-full	Equity Equity	5389628	cad
CY2020	ifrs-full	Increase Decrease Through Exercise Of Warrants Equity IncreaseDecreaseThroughExerciseOfWarrantsEquity	113	cad
CY2020	ifrs-full	Profit Loss ProfitLoss	182116	cad
CY2020Q2	ifrs-full	Equity Equity	5207625	cad
CY2021	ifrs-full	Increase Decrease Through Exercise Of Warrants Equity IncreaseDecreaseThroughExerciseOfWarrantsEquity	4883	cad
CY2021	ifrs-full	Increase Decrease Through Conversion Of Convertible Instruments IncreaseDecreaseThroughConversionOfConvertibleInstruments	90769	cad
CY2021	ifrs-full	Issue Of Convertible Instruments IssueOfConvertibleInstruments	2025	cad
CY2021	ifrs-full	Profit Loss ProfitLoss	552436	cad
CY2021Q2	ifrs-full	Equity Equity	4752866	cad
CY2022	ifrs-full	Increase Decrease Through Change In Equity Of Subsidiaries IncreaseDecreaseThroughChangeInEquityOfSubsidiaries	34988520	cad
CY2022	ifrs-full	Share Issue Related Cost ShareIssueRelatedCost	4233129	cad
CY2022	litm	Issuance Of Conversion Of Debenture IssuanceOfConversionOfDebenture	863294	cad
CY2022	ifrs-full	Increase Decrease Through Sharebased Payment Transactions IncreaseDecreaseThroughSharebasedPaymentTransactions	8035506	cad
CY2022	ifrs-full	Increase Decrease Through Exercise Of Warrants Equity IncreaseDecreaseThroughExerciseOfWarrantsEquity	365113	cad
CY2022	ifrs-full	Profit Loss ProfitLoss	9446454	cad
CY2022Q2	ifrs-full	Equity Equity	35325716	cad
CY2022	ifrs-full	Profit Loss ProfitLoss	9446454	cad
CY2021	ifrs-full	Profit Loss ProfitLoss	552436	cad
CY2020	ifrs-full	Profit Loss ProfitLoss	182116	cad
CY2021	litm	Recovery Of Accounts Payable RecoveryOfAccountsPayable	-10740	cad
CY2022	litm	Interest Expense And Accretion InterestExpenseAndAccretion	148406	cad
CY2021	litm	Interest Expense And Accretion InterestExpenseAndAccretion	140264	cad
CY2022	litm	Amortization Of Transaction Costs AmortizationOfTransactionCosts	56512	cad
CY2021	litm	Amortization Of Transaction Costs AmortizationOfTransactionCosts	13284	cad
CY2022	ifrs-full	Adjustments For Sharebased Payments AdjustmentsForSharebasedPayments	8035506	cad
CY2022	ifrs-full	Gains Losses On Financial Assets At Fair Value Through Profit Or Loss GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss	1103839	cad
CY2021	ifrs-full	Gains Losses On Financial Assets At Fair Value Through Profit Or Loss GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss	32676	cad
CY2020	ifrs-full	Adjustments For Losses Gains On Disposal Of Noncurrent Assets AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets	-71249	cad
CY2022	ifrs-full	Adjustments For Unrealised Foreign Exchange Losses Gains AdjustmentsForUnrealisedForeignExchangeLossesGains	-14000	cad
CY2020	ifrs-full	Adjustments For Unrealised Foreign Exchange Losses Gains AdjustmentsForUnrealisedForeignExchangeLossesGains	2675	cad
CY2022	ifrs-full	Adjustments For Reconcile Profit Loss AdjustmentsForReconcileProfitLoss	-2323869	cad
CY2021	ifrs-full	Adjustments For Reconcile Profit Loss AdjustmentsForReconcileProfitLoss	-442304	cad
CY2020	ifrs-full	Adjustments For Reconcile Profit Loss AdjustmentsForReconcileProfitLoss	-250690	cad
CY2022	ifrs-full	Income Taxes Paid Refund Classified As Operating Activities IncomeTaxesPaidRefundClassifiedAsOperatingActivities	-283520	cad
CY2021	ifrs-full	Income Taxes Paid Refund Classified As Operating Activities IncomeTaxesPaidRefundClassifiedAsOperatingActivities	-47	cad
CY2020	ifrs-full	Income Taxes Paid Refund Classified As Operating Activities IncomeTaxesPaidRefundClassifiedAsOperatingActivities	16034	cad
CY2022	ifrs-full	Adjustments For Decrease Increase In Prepaid Expenses AdjustmentsForDecreaseIncreaseInPrepaidExpenses	-864177	cad
CY2021	ifrs-full	Adjustments For Decrease Increase In Prepaid Expenses AdjustmentsForDecreaseIncreaseInPrepaidExpenses	-67179	cad
CY2020	ifrs-full	Adjustments For Decrease Increase In Prepaid Expenses AdjustmentsForDecreaseIncreaseInPrepaidExpenses	17357	cad
CY2022	ifrs-full	Adjustments For Increase Decrease In Trade Account Payable AdjustmentsForIncreaseDecreaseInTradeAccountPayable	552249	cad
CY2021	ifrs-full	Adjustments For Increase Decrease In Trade Account Payable AdjustmentsForIncreaseDecreaseInTradeAccountPayable	84360	cad
CY2020	ifrs-full	Adjustments For Increase Decrease In Trade Account Payable AdjustmentsForIncreaseDecreaseInTradeAccountPayable	-52992	cad
CY2022	ifrs-full	Adjustments For Decrease Increase In Trade Account Receivable AdjustmentsForDecreaseIncreaseInTradeAccountReceivable	-179655	cad
CY2021	ifrs-full	Adjustments For Decrease Increase In Trade Account Receivable AdjustmentsForDecreaseIncreaseInTradeAccountReceivable	61694	cad
CY2020	ifrs-full	Adjustments For Decrease Increase In Trade Account Receivable AdjustmentsForDecreaseIncreaseInTradeAccountReceivable	12310	cad
CY2022	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-3098972	cad
CY2021	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-363476	cad
CY2020	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-257981	cad
CY2020	ifrs-full	Interest Paid Classified As Financing Activities InterestPaidClassifiedAsFinancingActivities	1114	cad
CY2021	ifrs-full	Proceeds From Issue Of Bonds Notes And Debentures ProceedsFromIssueOfBondsNotesAndDebentures	805000	cad
CY2022	ifrs-full	Proceeds From Issuing Shares ProceedsFromIssuingShares	34988520	cad
CY2022	ifrs-full	Payments For Share Issue Costs PaymentsForShareIssueCosts	2995448	cad
CY2022	ifrs-full	Proceeds From Borrowings Classified As Financing Activities ProceedsFromBorrowingsClassifiedAsFinancingActivities	873253	cad
CY2022	ifrs-full	Repayments Of Borrowings Classified As Financing Activities RepaymentsOfBorrowingsClassifiedAsFinancingActivities	679617	cad
CY2022	ifrs-full	Proceeds From Exercise Of Options ProceedsFromExerciseOfOptions	365114	cad
CY2021	ifrs-full	Proceeds From Exercise Of Options ProceedsFromExerciseOfOptions	4883	cad
CY2020	ifrs-full	Proceeds From Exercise Of Options ProceedsFromExerciseOfOptions	113	cad
CY2022	ifrs-full	Cash Flows From Used In Financing Activities CashFlowsFromUsedInFinancingActivities	32551822	cad
CY2021	ifrs-full	Cash Flows From Used In Financing Activities CashFlowsFromUsedInFinancingActivities	809883	cad
CY2020	ifrs-full	Cash Flows From Used In Financing Activities CashFlowsFromUsedInFinancingActivities	-1001	cad
CY2022	ifrs-full	Purchase Of Intangible Assets Classified As Investing Activities PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities	5979286	cad
CY2021	ifrs-full	Purchase Of Intangible Assets Classified As Investing Activities PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities	270652	cad
CY2020	ifrs-full	Purchase Of Intangible Assets Classified As Investing Activities PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities	196928	cad
CY2022	ifrs-full	Cash Flows From Used In Investing Activities CashFlowsFromUsedInInvestingActivities	-5979286	cad
CY2021	ifrs-full	Cash Flows From Used In Investing Activities CashFlowsFromUsedInInvestingActivities	-270652	cad
CY2020	ifrs-full	Cash Flows From Used In Investing Activities CashFlowsFromUsedInInvestingActivities	-196928	cad
CY2022	ifrs-full	Increase Decrease In Cash And Cash Equivalents IncreaseDecreaseInCashAndCashEquivalents	23473564	cad
CY2021	ifrs-full	Increase Decrease In Cash And Cash Equivalents IncreaseDecreaseInCashAndCashEquivalents	175755	cad
CY2020	ifrs-full	Increase Decrease In Cash And Cash Equivalents IncreaseDecreaseInCashAndCashEquivalents	-455910	cad
CY2021Q2	ifrs-full	Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale	318844	cad
CY2020Q2	ifrs-full	Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale	143089	cad
CY2019Q2	ifrs-full	Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale	598999	cad
CY2022Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	23792408	cad
CY2021Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	318844	cad
CY2020Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	143089	cad
CY2022	ifrs-full	Adjustments For Increase Decrease In Other Operating Payables AdjustmentsForIncreaseDecreaseInOtherOperatingPayables	485089	cad
CY2021	ifrs-full	Adjustments For Increase Decrease In Other Operating Payables AdjustmentsForIncreaseDecreaseInOtherOperatingPayables	117015	cad
CY2020	ifrs-full	Adjustments For Increase Decrease In Other Operating Payables AdjustmentsForIncreaseDecreaseInOtherOperatingPayables	54322	cad
CY2022	ifrs-full	Disclosure Of Going Concern Explanatory DisclosureOfGoingConcernExplanatory	<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left"><b>1.</b></td><td style="text-align: justify"><b>Nature of Operations and Going Concern</b></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (“Snow Lake” or the “Company”) was incorporated under the Canada Business Corporations Act 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. and Snow Lake (Crowduck) Ltd. The corporate and principal place of business is 242 Hargrave St. #1700, Winnipeg, Manitoba, R3C 0V1 Canada.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 23, 2021, the Company closed its initial public offering (“IPO”) through the issuance of 3,680,000 common shares, at a price of $9.51 (USD $7.50) per share for gross proceeds of $34,988,520 (USD $27,600,000).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended June 30, 2022, the Company incurred a net loss of $9,446,454 (2021 – $552,436; 2020 – $182,116) and negative cash flow from operations of $3,098,972 (2021 – $363,476; 2020 – $257,981), and as at June 30, 2022, the Company had an accumulated deficit of $10,545,535 (June 30, 2021 – accumulated deficit of $2,271,524; June 30, 2020 – accumulated deficit of $1,719,088). The Company had 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. The unpredictability of the mining business, and the continued evolution of the coronavirus (“COVID-19”) pandemic represent material uncertainties which may cast significant doubt upon the Company’s ability to continue as a going concern.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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>
CY2021Q4	litm	Number Of Share Issued NumberOfShareIssued	3680000	shares
CY2021Q4	ifrs-full	Weighted Average Share Price2019 WeightedAverageSharePrice2019	9.51
CY2021Q4	ifrs-full	Weighted Average Share Price2019 WeightedAverageSharePrice2019	7.5
CY2021Q4	ifrs-full	Proceeds From Issuing Shares ProceedsFromIssuingShares	34988520	cad
CY2021Q4	ifrs-full	Proceeds From Issuing Shares ProceedsFromIssuingShares	27600000	usd
CY2022	ifrs-full	Profit Loss ProfitLoss	9446454	cad
CY2021	ifrs-full	Profit Loss ProfitLoss	552436	cad
CY2020	ifrs-full	Profit Loss ProfitLoss	182116	cad
CY2022	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-3098972	cad
CY2021	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-363476	cad
CY2020	ifrs-full	Cash Flows From Used In Operating Activities CashFlowsFromUsedInOperatingActivities	-257981	cad
CY2022Q2	ifrs-full	Retained Earnings RetainedEarnings	-10545535	cad
CY2021Q2	ifrs-full	Retained Earnings RetainedEarnings	-2271524	cad
CY2020Q2	ifrs-full	Retained Earnings RetainedEarnings	-1719088	cad
CY2022	ifrs-full	Disclosure Of Basis Of Consolidation Explanatory DisclosureOfBasisOfConsolidationExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>2.</b></td><td><b>Basis of Presentation</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(a)</b></td><td><b>Statement of Compliance</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 31, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(b)</b></td><td><b>Basis of Measurement </b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(c)</b></td><td><b>Basis of Consolidation</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(d)</b></td><td><b>Functional Currency</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(e)</b></td><td style="text-align: justify"><b>Significant Accounting Judgments and Estimates</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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. Items for which actual results may differ materially from these estimates are described as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Going concern</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 and the Company's cash position at year-end.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Fair value of financial assets and financial liabilities</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Economic recoverability of future economic benefits of exploration and evaluation assets</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management has determined that exploration and evaluation (“E&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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Provisions</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Income taxes</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, future changes in tax laws could limit the ability of the Company to obtain tax deductions in future periods. To the extent that future cash flows and taxable income differ significantly from estimates, the ability of the Company to realize the net deferred tax assets recorded at the reporting date could be impacted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Options and warrants</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Options and warrants, including finders’ warrants, are initially recognized at fair value, based on the application of the Black-Scholes valuation model (“Black-Scholes”). This pricing model requires management to make various assumptions and estimates which are susceptible to uncertainty, including 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. Changes in these input assumptions can significantly affect the fair value estimate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Expected credit losses on financial assets</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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>
CY2022	ifrs-full	Disclosure Of Summary Of Significant Accounting Policies Explanatory DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>3.</b></td><td><b>Summary of Significant Accounting Policies </b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(a)</b></td><td style="text-align: justify"><b>Current and Non-Current Classification</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(b)</b></td><td style="text-align: justify"><b>Cash </b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 counsel which is available on demand.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(c)</b></td><td style="text-align: justify"><b>Exploration and Evaluation Assets</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title to E&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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for E&E assets in accordance with IFRS 6 – Exploration for and Evaluation of Mineral Properties. 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&E activities, including general administrative overhead costs, are expensed in the period in which they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When a project is deemed to no longer have commercially viable prospects to the Company, E&E expenditures in respect of that project are deemed to be impaired. As a result, those E&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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company assesses E&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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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&E assets are also tested for impairment before the assets are transferred to development properties.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(d)</b></td><td style="text-align: justify"><b>Financial Instruments</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company classifies and measures financial instruments in accordance with IFRS 9 – Financial Instruments (“IFRS 9”). <span>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.</span> 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>Classification</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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). </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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, loan payable, convertible debentures and derivative liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Fair value through profit or loss</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Financial assets at fair value through other comprehensive income</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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. 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, 2022 and 2021, the Company did not have any financial assets at FVTOCI.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Amortized cost </span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company’s classification of financial assets and financial liabilities is summarized below: </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; width: 50%; text-align: justify"><span style="font-size: 10pt">Cash</span></td> <td style="white-space: nowrap; width: 50%; text-align: justify"><span style="font-size: 10pt">FVTPL</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Due to/from related parties</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Accounts payable </span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Loan payable</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Convertible debentures</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Derivative liability</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">FVTPL</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>Measurement </i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>Expected credit loss impairment model</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Derecognition</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company derecognizes financial assets only when the contractual rights to cash flows 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gains or losses on derecognition are generally recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Determination of fair value</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value hierarchy has the following levels:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(e)</b></td><td style="text-align: justify"><b>Impairment of Assets</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 value-in-use (“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 Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.7pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(f)</b></td><td style="text-align: justify"><b>Impairment of Non-Financial Assets</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(g)</b></td><td style="text-align: justify"><b>Convertible Debts</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If convertible debts can be converted to equity at a fixed conversion rate at the option of the holder, the liability component of the convertible debts is recognized initially at the fair value of a similar liability that does not have an equity conversion option. The conversion component is initially valued at fair value based on generally accepted valuation techniques, with the residual value of the convertible debt allocated to loan liability and warrant components. Subsequent to initial recognition, the liability component of a convertible debt is measured at amortized cost using the effective interest method and accreted to face value over the term of the convertible debt.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If convertible debts are convertible to equity at a variable conversion rate, where the quantity of shares or units into which the debts are convertible varies based on changes in variables affecting calculation of the conversion price, the value of the conversion component is first calculated and classified as a derivative liability, with the residual value allocated to the loan liability component, which is recognized as a liability and, where applicable, to warrants issued to debenture holders, which are recognized in reserves. Subsequent to initial recognition, the liability component of a convertible debts is measured at amortized cost using the effective interest method and accreted to face value over the terms of the convertible debts. The conversion component of the convertible debts is remeasured to fair value at the end of each reporting period using Black-Scholes, with gains or losses on remeasurement recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any difference between the proceeds (net of transaction costs) and the redemption value is recognized as an adjustment to accretion expense over the period of the borrowings using the effective interest method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Convertible debts are classified as current liability unless the Company has an unconditional right to defer settlement of the liability, or a portion of the liability, for at least 12 months after the reporting date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(h)</b></td><td style="text-align: justify"><b>Provisions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(i)</b></td><td style="text-align: justify"><b>Income Taxes</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 <span>taxable</span> profit will allow the deferred tax asset to be recovered.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(j)</b></td><td style="text-align: justify"><b>Share Capital</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common shares are classified as share capital. Costs directly attributable to the issue of common shares are recognized as a deduction from share capital, net of any tax effects.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(k)</b></td><td style="text-align: justify"><b>Share-Based Payments Transactions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 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 using Black–Scholes. The fair value of equity-settled share-based compensation transactions are recognized as an expense with a corresponding increase in the share-based payments reserve.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(l)</b></td><td style="text-align: justify"><b>Warrants</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 issue. Warrants are initially recorded as a part of the reserves in warrant in equity at the recognized fair value.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(m)</b></td><td style="text-align: justify"><b>Flow-Through Shares</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(n)</b></td><td style="text-align: justify"><b>Loss Per Share</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(o)</b></td><td style="text-align: justify"><b>Foreign Currency Translation </b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(p)</b></td><td style="text-align: justify"><b>Related Party Transactions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(q)</b></td><td style="text-align: justify"><b>Adoption of New Accounting Standards and Amendments</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company adopted the following amendments, effective July 1, 2021. The changes were made in accordance with the applicable transitional provisions. The Company early-adopted these amendments and had assessed that there was no material impact upon their adoption on its consolidated financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”)</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2020, the IASB issued amendments to IAS 1 which clarify the requirements for classifying liabilities as either current or non-current by: (i) specifying that the conditions which exist at the end of the reporting period determine if a right to defer settlement of a liability exists; (ii) clarifying that settlement of a liability refers to the transfer to the counterparty of cash, equity instruments, other assets or services; (iii) clarifying that classification is unaffected by management’s expectation about events after the balance sheet date; and (iv) clarifying the classification requirements for debt an entity may settle by converting it into equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amendments clarify existing requirements, rather than make changes to the requirements, and so are not expected to have a significant impact on an entity’s financial statements. However, the clarifications may result in reclassification of some liabilities from current to non-current or vice-versa, which could impact an entity’s loan covenants. Because of this impact, the IASB has provided a longer effective date to allow entities to prepare for these amendments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(r)</b></td><td style="text-align: justify"><b>Recent Accounting Pronouncements</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at the date of authorization of these consolidated financial statements, the IASB and the IFRS Interpretations Committee had issued certain pronouncements that are mandatory for the Company’s accounting periods commencing on or after July 1, 2022. Many are not applicable or do not have a significant impact to the Company, have been excluded. The Company had assessed that no material impact is expected upon the adoption of the following amendments on its consolidated financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments to IAS 37 – Provisions, Contingent Liabilities and Contingent Assets (“IAS 37”)</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2020, the IASB issued amendments to update IAS 37. The amendments specify that in assessing whether a contract is onerous under IAS 37, the cost of fulfilling a contract includes both the incremental costs and an allocation of costs that relate directly to contract activities. The amendments also include examples of costs that do, and do not, relate directly to a contract. These amendments are effective for annual periods beginning on or after January 1, 2022. Earlier application is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”) </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2021, the IASB issued <i>Definition of Accounting Estimates</i>, which amended IAS 8. The amendments clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. That distinction is important because changes in accounting estimates are applied prospectively only to future transactions and other future events, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events. The amendments to IAS 8 are effective for annual periods beginning on or after January 1, 2023. Early application is permitted.</p>
CY2022	ifrs-full	Description Of Accounting Policy For Noncurrent Assets Or Disposal Groups Classified As Held For Sale And Discontinued Operations Explanatory DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(a)</b></td><td style="text-align: justify"><b>Current and Non-Current Classification</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
CY2022	ifrs-full	Description Of Accounting Policy For Cash Flows Explanatory DescriptionOfAccountingPolicyForCashFlowsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(b)</b></td><td style="text-align: justify"><b>Cash </b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 counsel which is available on demand.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Exploration And Evaluation Expenditures DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(c)</b></td><td style="text-align: justify"><b>Exploration and Evaluation Assets</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title to E&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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for E&E assets in accordance with IFRS 6 – Exploration for and Evaluation of Mineral Properties. 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&E activities, including general administrative overhead costs, are expensed in the period in which they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">When a project is deemed to no longer have commercially viable prospects to the Company, E&E expenditures in respect of that project are deemed to be impaired. As a result, those E&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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company assesses E&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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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&E assets are also tested for impairment before the assets are transferred to development properties.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Financial Instruments Explanatory DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(d)</b></td><td style="text-align: justify"><b>Financial Instruments</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company classifies and measures financial instruments in accordance with IFRS 9 – Financial Instruments (“IFRS 9”). <span>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.</span> 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>Classification</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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). </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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, loan payable, convertible debentures and derivative liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Fair value through profit or loss</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Financial assets at fair value through other comprehensive income</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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. 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, 2022 and 2021, the Company did not have any financial assets at FVTOCI.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Amortized cost </span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>The Company’s classification of financial assets and financial liabilities is summarized below: </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; width: 50%; text-align: justify"><span style="font-size: 10pt">Cash</span></td> <td style="white-space: nowrap; width: 50%; text-align: justify"><span style="font-size: 10pt">FVTPL</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Due to/from related parties</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Accounts payable </span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Loan payable</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Convertible debentures</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Amortized cost</span></td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">Derivative liability</span></td> <td style="white-space: nowrap; text-align: justify"><span style="font-size: 10pt">FVTPL</span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>Measurement </i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span><i>Expected credit loss impairment model</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span>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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Derecognition</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company derecognizes financial assets only when the contractual rights to cash flows 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gains or losses on derecognition are generally recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Determination of fair value</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value hierarchy has the following levels:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q2	ifrs-full	Other Liabilities OtherLiabilities	1182449	cad
CY2021Q2	ifrs-full	Other Liabilities OtherLiabilities	262125	cad
CY2022	ifrs-full	Description Of Accounting Policy For Impairment Of Assets Explanatory DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(e)</b></td><td style="text-align: justify"><b>Impairment of Assets</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 value-in-use (“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 Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.7pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
CY2020Q2	litm	Advances Made To Suppliers And Deposits AdvancesMadeToSuppliersAndDeposits	794	cad
CY2022	ifrs-full	Description Of Accounting Policy For Impairment Of Nonfinancial Assets Explanatory DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(f)</b></td><td style="text-align: justify"><b>Impairment of Non-Financial Assets</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	litm	Disclosure Of Convertible Debt Securities Explanatory DisclosureOfConvertibleDebtSecuritiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(g)</b></td><td style="text-align: justify"><b>Convertible Debts</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If convertible debts can be converted to equity at a fixed conversion rate at the option of the holder, the liability component of the convertible debts is recognized initially at the fair value of a similar liability that does not have an equity conversion option. The conversion component is initially valued at fair value based on generally accepted valuation techniques, with the residual value of the convertible debt allocated to loan liability and warrant components. Subsequent to initial recognition, the liability component of a convertible debt is measured at amortized cost using the effective interest method and accreted to face value over the term of the convertible debt.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If convertible debts are convertible to equity at a variable conversion rate, where the quantity of shares or units into which the debts are convertible varies based on changes in variables affecting calculation of the conversion price, the value of the conversion component is first calculated and classified as a derivative liability, with the residual value allocated to the loan liability component, which is recognized as a liability and, where applicable, to warrants issued to debenture holders, which are recognized in reserves. Subsequent to initial recognition, the liability component of a convertible debts is measured at amortized cost using the effective interest method and accreted to face value over the terms of the convertible debts. The conversion component of the convertible debts is remeasured to fair value at the end of each reporting period using Black-Scholes, with gains or losses on remeasurement recognized in profit or loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any difference between the proceeds (net of transaction costs) and the redemption value is recognized as an adjustment to accretion expense over the period of the borrowings using the effective interest method.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Convertible debts are classified as current liability unless the Company has an unconditional right to defer settlement of the liability, or a portion of the liability, for at least 12 months after the reporting date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
CY2022	ifrs-full	Description Of Accounting Policy For Provisions Explanatory DescriptionOfAccountingPolicyForProvisionsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(h)</b></td><td style="text-align: justify"><b>Provisions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Issued Capital Explanatory DescriptionOfAccountingPolicyForIssuedCapitalExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(r)</b></td><td style="text-align: justify"><b>Recent Accounting Pronouncements</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at the date of authorization of these consolidated financial statements, the IASB and the IFRS Interpretations Committee had issued certain pronouncements that are mandatory for the Company’s accounting periods commencing on or after July 1, 2022. Many are not applicable or do not have a significant impact to the Company, have been excluded. The Company had assessed that no material impact is expected upon the adoption of the following amendments on its consolidated financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments to IAS 37 – Provisions, Contingent Liabilities and Contingent Assets (“IAS 37”)</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2020, the IASB issued amendments to update IAS 37. The amendments specify that in assessing whether a contract is onerous under IAS 37, the cost of fulfilling a contract includes both the incremental costs and an allocation of costs that relate directly to contract activities. The amendments also include examples of costs that do, and do not, relate directly to a contract. These amendments are effective for annual periods beginning on or after January 1, 2022. Earlier application is permitted.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”) </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2021, the IASB issued <i>Definition of Accounting Estimates</i>, which amended IAS 8. The amendments clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. That distinction is important because changes in accounting estimates are applied prospectively only to future transactions and other future events, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events. The amendments to IAS 8 are effective for annual periods beginning on or after January 1, 2023. Early application is permitted.</p>
CY2022	ifrs-full	Description Of Accounting Policy For Income Tax Explanatory DescriptionOfAccountingPolicyForIncomeTaxExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(i)</b></td><td style="text-align: justify"><b>Income Taxes</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 <span>taxable</span> profit will allow the deferred tax asset to be recovered.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	litm	Description Of Accounting Policy For Share Capital DescriptionOfAccountingPolicyForShareCapital	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(j)</b></td><td style="text-align: justify"><b>Share Capital</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common shares are classified as share capital. Costs directly attributable to the issue of common shares are recognized as a deduction from share capital, net of any tax effects.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q2	litm	Total Prepaid Expenses TotalPrepaidExpenses	932150	cad
CY2021Q2	litm	Total Prepaid Expenses TotalPrepaidExpenses	67973	cad
CY2020Q2	litm	Total Prepaid Expenses TotalPrepaidExpenses	794	cad
CY2022	ifrs-full	Description Of Accounting Policy For Sharebased Payment Transactions Explanatory DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(k)</b></td><td style="text-align: justify"><b>Share-Based Payments Transactions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 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 using Black–Scholes. The fair value of equity-settled share-based compensation transactions are recognized as an expense with a corresponding increase in the share-based payments reserve.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	litm	Description Of Accounting Policy For Warranttext Block DescriptionOfAccountingPolicyForWarranttextBlock	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(l)</b></td><td style="text-align: justify"><b>Warrants</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 issue. Warrants are initially recorded as a part of the reserves in warrant in equity at the recognized fair value.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Disclosure Of Acquired Receivables Explanatory DisclosureOfAcquiredReceivablesExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">4.</td><td style="text-align: justify">Sales Tax Receivable</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 (“GST/HST”). 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>
CY2020Q2	ifrs-full	Other Liabilities OtherLiabilities	125786	cad
CY2022	ifrs-full	Description Of Accounting Policy For Treasury Shares Explanatory DescriptionOfAccountingPolicyForTreasurySharesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(m)</b></td><td style="text-align: justify"><b>Flow-Through Shares</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Earnings Per Share Explanatory DescriptionOfAccountingPolicyForEarningsPerShareExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(n)</b></td><td style="text-align: justify"><b>Loss Per Share</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Foreign Currency Translation Explanatory DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(o)</b></td><td style="text-align: justify"><b>Foreign Currency Translation </b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Description Of Accounting Policy For Transactions With Related Parties Explanatory DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(p)</b></td><td style="text-align: justify"><b>Related Party Transactions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022	ifrs-full	Disclosure Of Changes In Accounting Policies Explanatory DisclosureOfChangesInAccountingPoliciesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>(q)</b></td><td style="text-align: justify"><b>Adoption of New Accounting Standards and Amendments</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company adopted the following amendments, effective July 1, 2021. The changes were made in accordance with the applicable transitional provisions. The Company early-adopted these amendments and had assessed that there was no material impact upon their adoption on its consolidated financial statements:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”)</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2020, the IASB issued amendments to IAS 1 which clarify the requirements for classifying liabilities as either current or non-current by: (i) specifying that the conditions which exist at the end of the reporting period determine if a right to defer settlement of a liability exists; (ii) clarifying that settlement of a liability refers to the transfer to the counterparty of cash, equity instruments, other assets or services; (iii) clarifying that classification is unaffected by management’s expectation about events after the balance sheet date; and (iv) clarifying the classification requirements for debt an entity may settle by converting it into equity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amendments clarify existing requirements, rather than make changes to the requirements, and so are not expected to have a significant impact on an entity’s financial statements. However, the clarifications may result in reclassification of some liabilities from current to non-current or vice-versa, which could impact an entity’s loan covenants. Because of this impact, the IASB has provided a longer effective date to allow entities to prepare for these amendments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2022Q2	ifrs-full	Trade And Other Payables To Trade Suppliers TradeAndOtherPayablesToTradeSuppliers	568065	cad
CY2021Q2	ifrs-full	Trade And Other Payables To Trade Suppliers TradeAndOtherPayablesToTradeSuppliers	215640	cad
CY2020Q2	ifrs-full	Trade And Other Payables To Trade Suppliers TradeAndOtherPayablesToTradeSuppliers	125786	cad
CY2022Q2	ifrs-full	Current Accrued Expenses And Other Current Liabilities CurrentAccruedExpensesAndOtherCurrentLiabilities	614384	cad
CY2021Q2	ifrs-full	Current Accrued Expenses And Other Current Liabilities CurrentAccruedExpensesAndOtherCurrentLiabilities	46485	cad
CY2022	ifrs-full	Disclosure Of Prepayments And Other Assets Explanatory DisclosureOfPrepaymentsAndOtherAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">5.</td><td style="text-align: justify">Prepaid Expenses</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: justify"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30,<br/> 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30,<br/> 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Prepaid insurance</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 7%; font-weight: bold; text-align: right">483,278</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">4,796</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Advances made to suppliers and deposits</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">448,872</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">63,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">932,150</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">67,973</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">794</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2022	ifrs-full	Disclosure Of Expenses Explanatory DisclosureOfExpensesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: justify"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30,<br/> 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30,<br/> 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Prepaid insurance</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 7%; font-weight: bold; text-align: right">483,278</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">4,796</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Advances made to suppliers and deposits</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">448,872</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">63,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">932,150</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">67,973</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">794</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2022Q2	litm	Prepaid Insurances PrepaidInsurances	483278	cad
CY2021Q2	litm	Prepaid Insurances PrepaidInsurances	4796	cad
CY2022Q2	litm	Advances Made To Suppliers And Deposits AdvancesMadeToSuppliersAndDeposits	448872	cad
CY2021Q2	litm	Advances Made To Suppliers And Deposits AdvancesMadeToSuppliersAndDeposits	63177	cad
CY2022	litm	Amount Shares Issue Costs AmountSharesIssueCosts	-4233129	cad
CY2022	ifrs-full	Disclosure Of Exploration And Evaluation Assets Explanatory DisclosureOfExplorationAndEvaluationAssetsExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">6.</td><td style="text-align: justify">Exploration and Evaluation Assets</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following summarizes the movement of the Company’s E&E assets for the years ended June 30, 2022, 2021 and 2020:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 90%; font-weight: bold">Balance, June 30, 2019</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 7%; font-weight: bold; text-align: right">5,174,451</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Exploration and evaluation expenditures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">222,428</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,396,879</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Exploration and evaluation expenditures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">333,345</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,730,224</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Exploration and evaluation expenditures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,347,360</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">Balance, June 30, 2022</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">12,077,584</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2019Q2	ifrs-full	Intangible Exploration And Evaluation Assets IntangibleExplorationAndEvaluationAssets	5174451	cad
CY2020	ifrs-full	Disposals Intangible Assets And Goodwill DisposalsIntangibleAssetsAndGoodwill	222428	cad
CY2020Q2	ifrs-full	Intangible Exploration And Evaluation Assets IntangibleExplorationAndEvaluationAssets	5396879	cad
CY2021	ifrs-full	Disposals Intangible Assets And Goodwill DisposalsIntangibleAssetsAndGoodwill	333345	cad
CY2021Q2	ifrs-full	Intangible Exploration And Evaluation Assets IntangibleExplorationAndEvaluationAssets	5730224	cad
CY2022	ifrs-full	Disposals Intangible Assets And Goodwill DisposalsIntangibleAssetsAndGoodwill	6347360	cad
CY2022Q2	ifrs-full	Intangible Exploration And Evaluation Assets IntangibleExplorationAndEvaluationAssets	12077584	cad
CY2022	ifrs-full	Disclosure Of Trade And Other Payables Explanatory DisclosureOfTradeAndOtherPayablesExplanatory	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">8.</td><td style="text-align: justify">Loan Payable</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 29, 2021, the Company entered into a loan agreement for USD $692,970 (CAD $873,253) (the “Loan”). The Loan bears an interest rate of 4.7% and is payable in monthly instalments of USD $78,512. Interest related to the Loan totaled $16,226 and was included in interest on loan and debentures. The Loan matured on August 18, 2022.</p>
CY2021Q4	litm	Loan Agreement LoanAgreement	692970	usd
CY2021Q4	litm	Loan Agreement LoanAgreement	873253	cad
CY2021Q4	ifrs-full	Borrowings Interest Rate Basis BorrowingsInterestRateBasis	4.7%
CY2021Q4	litm	Monthly Instalments Payable MonthlyInstalmentsPayable	78512	usd
CY2021Q4	ifrs-full	Gross Loan Commitments GrossLoanCommitments	16226	usd
CY2022	ifrs-full	Disclosure Of Redesignated Financial Assets And Liabilities Explanatory DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>9.</b></td><td style="text-align: justify"><b>Convertible Debentures</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2021, the Company issued convertible debts (the “Debentures”) for a total of $865,263 (the “Subscribed Amount”). The Debentures were sold at a discount of approximately 5% for proceeds of $805,000, net of a $15,000 cash commission.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the terms of the Agreement, the Subscribed Amount plus interest accrued, at a rate which should be the higher of (i) 12% per annum or (ii) Wall Street Prime Rate + 7%, is convertible, at the option of the Debenture holder, into common shares of the Company at a price that is the lesser of (i) $1.25 per share or (ii) a 20% discount to the price of a Liquidity Transaction (defined below). The conversion feature expires (the “Expiry Date”) on the earlier of 24 months from execution, or the closing of a registered public offering (the “Liquidity Transaction”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of a default, interest accrues at the lesser of (i) 24% per annum or (ii) the maximum legally authorized rate. The Company has the right to repay the note prior to maturity at 110% of the then outstanding principal and interest. The Company must provide 30 days’ notice and the Lender shall have the right to convert prior to the 30-day notice expiration.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determined the fair value of the conversion feature component upon initial recognition was $442,589. The residual $362,411 value of the $805,000 net proceeds received was allocated on a pro-rata basis between the debt component ($271,642) and the warrants component ($90,769) based on their relative fair values. The debt component was discounted at a rate of 20% and 346,104 subscriber warrants were valued using Black-Scholes, based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. During the year ended June 30, 2022, the Company recognized accretion expense of $91,895 (2021 – $101,565) relating to accreting the debt component of the Debentures up to their principal value, and interest of $34,990 (2021 – $38,699).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company incurred $24,507 in transaction costs pursuant to the issuance of the Debentures, including paying a $15,000 cash commission, issuing 15,000 finders’ warrants (each a “Finder’s Warrants”) exercisable at $1.50 for the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange and $27 in bank charges. These costs, along with the $45,263 discount, are being amortized over the term of the Debentures. The 15,000 Finders’ Warrants were valued using Black-Scholes, based on the following assumption: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest rate of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended June 30, 2022, the Company amortized $56,512 (2021 – $13,284) of transaction costs and discount in the consolidated statements of loss and comprehensive loss, including $2,025 recorded to warrants reserve for the value of the Finders’ Warrants allocated to the warrants component in 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-weight: normal">On November 23, 2021, all debt holders exercised their conversion rights at a price of $1.25 per common share. As a result of the conversion, 751,163 common shares were issued.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table reflects the continuity of the Debentures for the years ended June 30, 2022 and 2021:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 90%">Principal value of convertible debentures</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">865,263</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount on proceeds received</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,263</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Allocation to conversion feature</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(442,589</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Allocation to warrant</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(90,769</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Value at initial recognition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,642</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accretion expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,565</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,699</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Amortization of transaction costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">423,139</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accretion expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,895</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,990</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Amortization of transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,617</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Conversion of Debentures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(600,641</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2021Q1	litm	Convertible Debt Issued ConvertibleDebtIssued	865263	cad
CY2022Q2	ifrs-full	Actuarial Assumption Of Discount Rates ActuarialAssumptionOfDiscountRates	0.05	pure
CY2022	litm	Proceeds Value ProceedsValue	805000	cad
CY2022	litm	Cash Commission Amount CashCommissionAmount	15000	cad
CY2022	litm	Interest Accrued Description InterestAccruedDescription	(i) 12% per annum or (ii) Wall Street Prime Rate + 7%, is convertible, at the option of the Debenture holder, into common shares of the Company at a price that is the lesser of (i) $1.25 per share or (ii) a 20% discount to the price of a Liquidity Transaction (defined below). The conversion feature expires (the “Expiry Date”) on the earlier of 24 months from execution, or the closing of a registered public offering (the “Liquidity Transaction”).
CY2022	litm	Interest Accrues Lesser Description InterestAccruesLesserDescription	In the event of a default, interest accrues at the lesser of (i) 24% per annum or (ii) the maximum legally authorized rate. The Company has the right to repay the note prior to maturity at 110% of the then outstanding principal and interest. The Company must provide 30 days’ notice and the Lender shall have the right to convert prior to the 30-day notice expiration.
CY2022	litm	Fair Value Conversion Feature Description FairValueConversionFeatureDescription	The Company determined the fair value of the conversion feature component upon initial recognition was $442,589. The residual $362,411 value of the $805,000 net proceeds received was allocated on a pro-rata basis between the debt component ($271,642) and the warrants component ($90,769) based on their relative fair values. The debt component was discounted at a rate of 20% and 346,104 subscriber warrants were valued using Black-Scholes, based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. During the year ended June 30, 2022, the Company recognized accretion expense of $91,895 (2021 – $101,565) relating to accreting the debt component of the Debentures up to their principal value, and interest of $34,990 (2021 – $38,699).
CY2022	ifrs-full	Description Of Redesignated Financial Liabilities DescriptionOfRedesignatedFinancialLiabilities	The Company incurred $24,507 in transaction costs pursuant to the issuance of the Debentures, including paying a $15,000 cash commission, issuing 15,000 finders’ warrants (each a “Finder’s Warrants”) exercisable at $1.50 for the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange and $27 in bank charges. These costs, along with the $45,263 discount, are being amortized over the term of the Debentures. The 15,000 Finders’ Warrants were valued using Black-Scholes, based on the following assumption: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest rate of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50.
CY2022	litm	Amortized Cost AmortizedCost	56512	cad
CY2021	litm	Transaction Costs TransactionCosts	13284	cad
CY2022	litm	Warrants Reserve Value WarrantsReserveValue	2025	cad
CY2021Q4	ifrs-full	Par Value Per Share ParValuePerShare	1.25
CY2021Q4	litm	Issuance Of Conversion Of Debentures Shares IssuanceOfConversionOfDebenturesShares	751163	shares
CY2020Q2	litm	Numbers Of Share Issued NumbersOfShareIssued	13008006	shares
CY2020Q2	litm	Amount Beginning Balances AmountBeginningBalances	5745369	cad
CY2021	litm	Number Of Common Shares Shares Issued From Exercise Of Warrantsin Dollars NumberOfCommonSharesSharesIssuedFromExerciseOfWarrantsinDollars	2170	shares
CY2021	litm	Amount Shares Issued From Exercise Of Warrants AmountSharesIssuedFromExerciseOfWarrants	4883	cad
CY2021Q2	litm	Numbers Of Share Issued NumbersOfShareIssued	13010176	shares
CY2021Q2	litm	Amount Beginning Balances AmountBeginningBalances	5750252	cad
CY2022	litm	Shares Issued On Initial Public Offering SharesIssuedOnInitialPublicOffering	3680000	shares
CY2022	litm	Amount Shares Issued On Initial Public Offering AmountSharesIssuedOnInitialPublicOffering	34988520	cad
CY2022	ifrs-full	Maturity Analysis For Derivative Financial Liabilities MaturityAnalysisForDerivativeFinancialLiabilities	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>10.</b></td><td style="text-align: justify"><b>Derivative Liability</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Conversion feature of Debentures</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended June 30, 2021, a gain on change in fair value on the conversion feature of $32,676 was recorded on the consolidated statements of loss and comprehensive loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>IPO Finders’ Warrants</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO which closed on November 23, 2021, the Company issued 184,000 Finders’ Warrants exercisable at USD $9.375 before November 23, 2026. The fair value of these Finders’ Warrants was estimated at $1,237,681 using 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at June 30, 2022, the derivative liability related to the Finders’ Warrants was measured at a fair value of $286,997 using Black-Scholes with the following assumptions: share price of USD $2.40, exercise price of USD $9.375, expected volatility of 100% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 3.10% and an estimated remaining life of 4.40 years. During the year ended June 30, 2022, the Company recorded a fair value decrease of $950,684 on the derivative liability related to the Finders’ Warrants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The changes to the derivative liabilities for the years ended June 30, 2022 and 2021 are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 88%; text-align: left">Fair value of derivative liability on date of issuance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">442,589</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Fair value changes of derivative liability – conversion feature</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(32,676</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">409,913</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value changes of derivative liability – conversion feature</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(153,155</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Fair value allocated on conversion of Debentures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(256,758</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of derivative liability – Finders’ Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,681</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Fair value changes of derivative liability – Finders’ Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(950,684</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">286,997</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2021Q1	ifrs-full	Derivative Financial Liabilities DerivativeFinancialLiabilities	442589	cad
CY2021	ifrs-full	Gains On Change In Fair Value Of Derivatives GainsOnChangeInFairValueOfDerivatives	32676	cad
CY2022	ifrs-full	Gains On Change In Fair Value Of Derivatives GainsOnChangeInFairValueOfDerivatives	153155	cad
CY2022Q2	litm	Allocated To Share Capital AllocatedToShareCapital	256758	cad
CY2021Q4	ifrs-full	Description Of Financial Instruments Designated As Hedging Instrument DescriptionOfFinancialInstrumentsDesignatedAsHedgingInstrument	the Company issued 184,000 Finders’ Warrants exercisable at USD $9.375 before November 23, 2026. The fair value of these Finders’ Warrants was estimated at $1,237,681 using 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.
CY2022Q2	ifrs-full	Derivative Financial Liabilities Undiscounted Cash Flows DerivativeFinancialLiabilitiesUndiscountedCashFlows	286997	cad
CY2022	litm	Share Priceof Amount SharePriceofAmount	2.4	usd
CY2022	ifrs-full	Proceeds From Exercise Of Warrants ProceedsFromExerciseOfWarrants	9.375	usd
CY2022	litm	Percentageofderrivative Percentageofderrivative	1	pure
CY2022	litm	Dividendof Percentange Rate DividendofPercentangeRate	0	pure
CY2022	litm	Interest Rateof Percentange InterestRateofPercentange	0.031	pure
CY2022	litm	Estimated Remaining Life Year EstimatedRemainingLifeYear	4.40 years
CY2022Q2	ifrs-full	Current Derivative Financial Assets CurrentDerivativeFinancialAssets	950684	cad
CY2021	litm	Fair Value Of Derivative Liability On Date Of Issuance FairValueOfDerivativeLiabilityOnDateOfIssuance	442589	cad
CY2021	ifrs-full	Losses On Change In Fair Value Of Derivatives LossesOnChangeInFairValueOfDerivatives	32676	cad
CY2021Q2	ifrs-full	Intangible Assets Other Than Goodwill IntangibleAssetsOtherThanGoodwill	409913	cad
CY2022	ifrs-full	Losses On Change In Fair Value Of Derivatives LossesOnChangeInFairValueOfDerivatives	153155	cad
CY2022	litm	Fair Value Allocated On Conversion Of Debenture FairValueAllocatedOnConversionOfDebenture	256758	cad
CY2022	litm	Fair Value Of Derivative Liability Finders Warrants FairValueOfDerivativeLiabilityFindersWarrants	1237681	cad
CY2022	ifrs-full	Increase Decrease In Credit Derivative Fair Value IncreaseDecreaseInCreditDerivativeFairValue	-950684	cad
CY2022Q2	ifrs-full	Intangible Assets Other Than Goodwill IntangibleAssetsOtherThanGoodwill	286997	cad
CY2022	ifrs-full	Disclosure Of Share Capital Reserves And Other Equity Interest Explanatory DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>11.</b></td><td><b>Share Capital</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i>Authorized share capital</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal">The Company is authorized to issue an unlimited number of common shares without par value. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal">Common shares issued and outstanding as at June 30, 2022, 2021 and 2020 are as follows:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"> </span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of common shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Amount</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold">Balance, June 30, 2019</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">13,007,956</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">5,745,215</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">Shares issued from exercise of warrants <sup>(a)</sup></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,008,006</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,745,369</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">Shares issued from exercise of warrants <sup>(b)</sup></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,170</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,883</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,010,176</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,750,252</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-size: 10pt">Shares issued on initial public offering <sup>(c)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,680,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,988,520</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Shares issue costs <sup>(b)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,233,129</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-size: 10pt">Shares issued on conversion of debentures <sup>(d)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">751,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">857,399</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Shares issued on vesting of restricted share units <sup>(e)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,950,645</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">Shares issued from exercise of warrants <sup>(f)</sup></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">243,419</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">419,946</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,924,758</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,733,633</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i>Share capital transactions for the year ended June 30, 2020</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td style="text-align: justify">During the year ended June 30, 2020, 50 common shares were issued as a result of the exercise of Warrants for cash proceeds of $113.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i>Share capital transactions for the year ended June 30, 2021</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td style="text-align: justify">During the year ended June 30, 2021, 2,170 common shares were issued as a result of the exercise of Warrants for cash proceeds of $4,883.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><span style="font-weight: normal">(c)</span></td><td style="text-align: justify"><span style="font-weight: normal">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 23, 2026 (see Notes 10 and 14). 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.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td style="text-align: justify">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 liability to share capital.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">On January 9, 2022, the Company issued 240,000 common shares as a result of the vesting of restricted share units (“RSUs”). These common shares were valued at an amount of $1,950,645. See Note 12 for more details.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(f)</td><td style="text-align: justify">During the year ended June 30, 2022, 243,419 common shares were also issued as a result of the exercise of Warrants for cash proceeds of $365,114.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i>Flow-Through Shares</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Flow-through share arrangements involve resource expenditure deductions for income tax purposes which are renounced to purchasers of common shares in accordance with income tax legislation. Each flow-through share entitles the holder to a 100% tax deduction in respect of qualifying Canadian Exploration Expenses (“CEE”) as defined.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The value of the flow-through share liability was determined using the residual value method, after determining the fair value of the common shares and common shares purchase warrants attached to the Flow-Through Share Unit Financing. The Flow-Through Share Unit Financing premium established the flow-through share liability value at $71,249 as at June 30, 2019.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended June 30, 2020, the Company satisfied all of its flow-through obligations and recognized a recovery on the statement of loss and comprehensive loss for the full amount of the flow-through share liability.</p>
CY2022	ifrs-full	Disclosure Of Number And Weighted Average Exercise Prices Of Share Options Explanatory DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of common shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Amount</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold">Balance, June 30, 2019</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">13,007,956</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">5,745,215</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">Shares issued from exercise of warrants <sup>(a)</sup></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,008,006</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,745,369</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">Shares issued from exercise of warrants <sup>(b)</sup></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,170</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,883</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,010,176</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,750,252</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-size: 10pt">Shares issued on initial public offering <sup>(c)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,680,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,988,520</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Shares issue costs <sup>(b)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,233,129</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left"><span style="font-size: 10pt">Shares issued on conversion of debentures <sup>(d)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">751,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">857,399</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Shares issued on vesting of restricted share units <sup>(e)</sup></span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,950,645</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">Shares issued from exercise of warrants <sup>(f)</sup></span></td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">243,419</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">419,946</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,924,758</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,733,633</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td style="text-align: justify">During the year ended June 30, 2020, 50 common shares were issued as a result of the exercise of Warrants for cash proceeds of $113.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td style="text-align: justify">During the year ended June 30, 2021, 2,170 common shares were issued as a result of the exercise of Warrants for cash proceeds of $4,883.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><span style="font-weight: normal">(c)</span></td><td style="text-align: justify"><span style="font-weight: normal">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 23, 2026 (see Notes 10 and 14). 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.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td style="text-align: justify">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 liability to share capital.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">On January 9, 2022, the Company issued 240,000 common shares as a result of the vesting of restricted share units (“RSUs”). These common shares were valued at an amount of $1,950,645. See Note 12 for more details.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(f)</td><td style="text-align: justify">During the year ended June 30, 2022, 243,419 common shares were also issued as a result of the exercise of Warrants for cash proceeds of $365,114.</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
CY2019Q2	litm	Numbers Of Share Issued NumbersOfShareIssued	13007956	shares
CY2019Q2	litm	Amount Beginning Balances AmountBeginningBalances	5745215	cad
CY2020	litm	Number Of Common Shares Shares Issued From Exercise Of Warrantsin Dollars NumberOfCommonSharesSharesIssuedFromExerciseOfWarrantsinDollars	50	shares
CY2020	litm	Amount Shares Issued From Exercise Of Warrants AmountSharesIssuedFromExerciseOfWarrants	154	cad
CY2022	litm	Shares Issued On Conversion Of Debentures SharesIssuedOnConversionOfDebentures	751163	shares
CY2022	litm	Amount Shares Issued On Conversion Of Debentures AmountSharesIssuedOnConversionOfDebentures	857399	cad
CY2022	litm	Shares Issued On Vesting Of Restricted Share Units SharesIssuedOnVestingOfRestrictedShareUnits	240000	shares
CY2022	litm	Amount Shares Issued On Vesting Of Restricted Share Units AmountSharesIssuedOnVestingOfRestrictedShareUnits	1950645	cad
CY2022	litm	Number Of Common Shares Shares Issued From Exercise Of Warrantsin Dollars NumberOfCommonSharesSharesIssuedFromExerciseOfWarrantsinDollars	243419	shares
CY2022	litm	Amount Shares Issued From Exercise Of Warrants AmountSharesIssuedFromExerciseOfWarrants	419946	cad
CY2022Q2	litm	Numbers Of Share Issued NumbersOfShareIssued	17924758	shares
CY2022Q2	litm	Amount Beginning Balances AmountBeginningBalances	39733633	cad
CY2020Q2	ifrs-full	Number Of Shares Issued NumberOfSharesIssued	50	shares
CY2020	litm	Proceeds From Exercise Of Warrant ProceedsFromExerciseOfWarrant	113	cad
CY2021Q2	ifrs-full	Number Of Shares Issued NumberOfSharesIssued	2170	shares
CY2021	litm	Proceeds From Exercise Of Warrant ProceedsFromExerciseOfWarrant	4883	cad
CY2021Q4	ifrs-full	Weighted Average Share Price2019 WeightedAverageSharePrice2019	9.51
CY2021Q4	ifrs-full	Weighted Average Share Price2019 WeightedAverageSharePrice2019	7.5
CY2021Q4	litm	Proceeds From Exercise Of Option ProceedsFromExerciseOfOption	34988520	cad
CY2021Q4	ifrs-full	Proceeds From Exercise Of Options ProceedsFromExerciseOfOptions	27600000	usd
CY2021Q4	litm	Warrants Exercisable WarrantsExercisable	184000	shares
CY2021Q4	ifrs-full	Share Issue Related Cost ShareIssueRelatedCost	2995448	cad
CY2021Q4	ifrs-full	Fee And Commission Income FeeAndCommissionIncome	2624139	cad
CY2021Q4	litm	Underwriting Fees UnderwritingFees	304248	cad
CY2021Q4	ifrs-full	Other Expense By Nature OtherExpenseByNature	67061	cad
CY2021Q4	ifrs-full	Number Of Shares Issued NumberOfSharesIssued	751163	shares
CY2021Q4	litm	Debt Price Per Share DebtPricePerShare	1.25
CY2021Q4	litm	Derivative Liabilitie DerivativeLiabilitie	863294	cad
CY2022Q1	ifrs-full	Number Of Shares Issued NumberOfSharesIssued	240000	shares
CY2022Q1	litm	Common Stock Values CommonStockValues	1950645	cad
CY2022Q2	ifrs-full	Number Of Shares Issued NumberOfSharesIssued	243419	shares
CY2022	litm	Proceeds From Exercise Of Warrant ProceedsFromExerciseOfWarrant	365114	cad
CY2022	ifrs-full	Percentage Of Entitys Revenue PercentageOfEntitysRevenue	1	pure
CY2019Q2	litm	Flowthrough Share Liability Value flowthroughShareLiabilityValue	71249	cad
CY2022	litm	Disclosure Of Reserve For Rs Us DisclosureOfReserveForRSUs	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>12.</b></td><td><b>Reserve for RSUs</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 9, 2022, the Company granted 240,000 RSUs to an officer, which vested immediately. Stock-based compensation of $1,950,645 in connection with the vesting of these RSUs was recorded during the year ended June 30, 2022.</p>
CY2022Q1	ifrs-full	Statutory Reserve StatutoryReserve	240000	usd
CY2022Q1	ifrs-full	Reserve Of Sharebased Payments ReserveOfSharebasedPayments	1950645	usd
CY2022Q2	ifrs-full	Treasury Shares TreasuryShares	2406732	cad
CY2022	ifrs-full	Purchase Of Treasury Shares PurchaseOfTreasuryShares	786243	cad
CY2022	ifrs-full	Cancellation Of Treasury Shares CancellationOfTreasuryShares	160000	cad
CY2021Q4	litm	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	litm	Expected Life ExpectedLife	P5Y
CY2022	litm	Fair Value Attributable FairValueAttributable	7167552	cad
CY2022	litm	Stockbased Compensations StockbasedCompensations	6084861	cad
CY2022	litm	Options Shares Cancelled OptionsSharesCancelled	168897	shares
CY2022	litm	Number Of Options Outstanding NumberOfOptionsOutstanding	1620489	shares
CY2022	litm	Number Of Options Exercisable NumberOfOptionsExercisable	1070245	shares
CY2022	litm	Exercise Price ExercisePrice	7.23
CY2022	litm	Weighted Averages Remaining Contractual Life WeightedAveragesRemainingContractualLife	P3Y3M7D
CY2022	litm	Disclosure Of Reserve For Warrants DisclosureOfReserveForWarrants	<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">14.</td><td>Reserve for Warrants</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following summarizes the warrant activity for the years ended June 30, 2022, 2021 and 2020:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Number of warrants</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Weighted average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>exercise price</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted <br/>Average <br/>exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted <br/>Average <br/>exercise price</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font-weight: bold; text-align: left">Outstanding, beginning of year</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">880,525</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1.55</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,929</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.59</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,979</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.65</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Issued from debentures financing</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">-</div></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">361,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Issued of Finders’ Warrants from IPO</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">184,000</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-size: 10pt"><b>USD 9.375</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Exercised</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(243,419</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1.50</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,170</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Expired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(30,332</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2.25</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Outstanding, end of year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">880,525</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.55</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">551,929</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.59</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i>Warrant issuances for the year ended June 30, 2020</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were no warrant issuances for the year ended June 30, 2020.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><span style="font-weight: normal"><i>Warrant issuances for the year ended June 30, 2021</i></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the Debentures issuance in February 2021, the Company issued 346,108 Warrants to subscribers of the Debentures. Debenture holders were eligible to receive such number of Warrants equal to half of the number of common shares issuable upon conversion of the Debentures at the conversion price of $1.25. Each Warrant is exercisable into one common share at an exercise price of $1.50 per Warrant until the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange. These Warrants were valued at $90,769, recorded to the warrants reserve after allocating, on a pro-rata basis, the $362,411 residual value of the Debentures between the debt and warrants components after the initial allocation of $442,589 of the $805,000 net proceeds received to the conversion feature.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Debenture Warrants were valued using Black-Scholes based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of <span style="-sec-ix-hidden: hidden-fact-132">nil</span>, risk-free interest rate of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. $2,025 of Debenture transaction costs was recorded to warrants reserve in amortizing the value of transaction costs allocated to the warrants component of the Debentures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-weight: normal"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><span style="font-weight: normal">15,000 Debenture Finders’ Warrants exercisable on the same terms as the Debenture Warrants were also issued, and they were valued at $9,480 using Black-Scholes based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of <span style="-sec-ix-hidden: hidden-fact-133">nil</span>, risk-free interest rate of 0.18%, market price of $1.50, and an exercise price of $1.50. The value of these warrants allocated to loan liability transaction costs is being amortized in the statement of loss and comprehensive loss in accreting up the carrying value of the Debenture loan liability to its principal balance and the value allocated to Debenture warrants transaction costs is being amortized to the warrants reserve over the term of the Debentures.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Warrant issuances for the year ended June 30, 2022</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the IPO which closed on November 23, 2021, the Company issued 184,000 Finders’ Warrants exercisable at USD $9.375 before November 23, 2026. As these Finders’ Warrants are denominated in USD, they are considered derivative liabilities hence classified as such (see Note 10 for details).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes information of warrants outstanding as at June 30, 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b>Date of expiry</b></p></td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Number of </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>warrants outstanding</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Exercise price</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average remaining contractual life</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>#</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>$</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>Years</b></span></td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">November 23, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.25</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">533,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,427</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">November 23, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">184,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 10pt">USD 9.375</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1.40</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2.07</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2022	litm	Schedule Of Summarizes The Warrant Activity ScheduleOfSummarizesTheWarrantActivity	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Number of warrants</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Weighted average</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>exercise price</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted <br/>Average <br/>exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted <br/>Average <br/>exercise price</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font-weight: bold; text-align: left">Outstanding, beginning of year</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">880,525</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1.55</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,929</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.59</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,979</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.65</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Issued from debentures financing</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">-</div></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">361,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Issued of Finders’ Warrants from IPO</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">184,000</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><span style="font-size: 10pt"><b>USD 9.375</b></span></td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Exercised</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(243,419</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1.50</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,170</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Expired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(30,332</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2.25</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Outstanding, end of year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">880,525</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.55</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">551,929</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.59</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><span style="font-weight: normal"><i> </i></span></p>
CY2022	litm	Number Of Warrants Outstanding Beginning Of Year NumberOfWarrantsOutstandingBeginningOfYear	880525	shares
CY2021Q4	ifrs-full	Weighted Average Exercise Price Of Share Options Outstanding In Sharebased Payment Arrangement2019 WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019	1.55
CY2021	litm	Number Of Warrants Outstanding Beginning Of Year NumberOfWarrantsOutstandingBeginningOfYear	551929	shares
CY2020Q4	ifrs-full	Weighted Average Exercise Price Of Share Options Outstanding In Sharebased Payment Arrangement2019 WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019	1.59
CY2020	litm	Number Of Warrants Outstanding Beginning Of Year NumberOfWarrantsOutstandingBeginningOfYear	551979	shares
CY2019Q4	ifrs-full	Weighted Average Exercise Price Of Share Options Outstanding In Sharebased Payment Arrangement2019 WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019	1.65
CY2020Q2	litm	Prepaid Insurances PrepaidInsurances		cad
CY2021	litm	Number Of Warrant Issued From Debentures Financing NumberOfWarrantIssuedFromDebenturesFinancing	361098	shares
CY2021	litm	Weighted Average Exercise Price Issued From Debentures Financing WeightedAverageExercisePriceIssuedFromDebenturesFinancing	1.5
CY2022	litm	Number Of Warrant Issued Of Finders Warrants From Ipo NumberOfWarrantIssuedOfFindersWarrantsFromIPO	184000	shares
CY2022	litm	Weighted Average Exercise Price Issued Of Finders Warrants From Ipo WeightedAverageExercisePriceIssuedOfFindersWarrantsFromIPO	9.375
CY2022	litm	Number Of Warrants Exercised NumberOfWarrantsExercised	-243419	shares
CY2022	litm	Weighted Average Exercise Price Exercised WeightedAverageExercisePriceExercised	1.5
CY2021	litm	Number Of Warrants Exercised NumberOfWarrantsExercised	-2170	shares
CY2021	litm	Weighted Average Exercise Price Exercised WeightedAverageExercisePriceExercised	2.25
CY2020	litm	Number Of Warrants Exercised NumberOfWarrantsExercised	-50	shares
CY2020	litm	Weighted Average Exercise Price Exercised WeightedAverageExercisePriceExercised	2.25
CY2021	litm	Number Of Warrants Expired NumberOfWarrantsExpired	-30332	shares
CY2021	litm	Weighted Average Exercise Price Expired WeightedAverageExercisePriceExpired	2.25
CY2022	litm	Number Of Warrants Outstanding End Of Year NumberOfWarrantsOutstandingEndOfYear	821106	cad
CY2022Q4	litm	Weighted Average Exercise Price Outstanding End Of Year WeightedAverageExercisePriceOutstandingEndOfYear	3.93
CY2021	litm	Number Of Warrants Outstanding End Of Year NumberOfWarrantsOutstandingEndOfYear	880525	cad
CY2021Q4	litm	Weighted Average Exercise Price Outstanding End Of Year WeightedAverageExercisePriceOutstandingEndOfYear	1.55
CY2020	litm	Number Of Warrants Outstanding End Of Year NumberOfWarrantsOutstandingEndOfYear	551929	cad
CY2020Q4	litm	Weighted Average Exercise Price Outstanding End Of Year WeightedAverageExercisePriceOutstandingEndOfYear	1.59
CY2021Q1	litm	Description Of Warrant Issuances DescriptionOfWarrantIssuances	the Company issued 346,108 Warrants to subscribers of the Debentures. Debenture holders were eligible to receive such number of Warrants equal to half of the number of common shares issuable upon conversion of the Debentures at the conversion price of $1.25. Each Warrant is exercisable into one common share at an exercise price of $1.50 per Warrant until the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange. These Warrants were valued at $90,769, recorded to the warrants reserve after allocating, on a pro-rata basis, the $362,411 residual value of the Debentures between the debt and warrants components after the initial allocation of $442,589 of the $805,000 net proceeds received to the conversion feature.
CY2022	litm	Expected Life Of Warrants ExpectedLifeOfWarrants	P2Y6M
CY2022	ifrs-full	Description Of Expected Volatility Share Options Granted DescriptionOfExpectedVolatilityShareOptionsGranted	0.70	pure
CY2022	litm	Market Price MarketPrice	1.5	cad
CY2022	litm	Excercise Price ExcercisePrice	1.5	cad
CY2022	litm	Debenture Transaction Costs DebentureTransactionCosts	2025	cad
CY2022	litm	Debenture Finders DebentureFinders	15000	cad
CY2022	litm	Black Scholes Based On The Assumptions BlackScholesBasedOnTheAssumptions	9480	cad
CY2022	ifrs-full	Disclosure Of Range Of Exercise Prices Of Outstanding Share Options Explanatory DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><b>Date of expiry</b></p></td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Number of </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>warrants outstanding</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Exercise price</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average remaining contractual life</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>#</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>$</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>Years</b></span></td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">November 23, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.25</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">533,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,427</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">November 23, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">184,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-size: 10pt">USD 9.375</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1.40</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2.07</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>
CY2022	litm	Number Of Warrant Outstanding NumberOfWarrantOutstanding	821106	shares
CY2022	litm	Exercises Price ExercisesPrice	3.93
CY2022	litm	Weighted Average Remaining Contractual Life1 WeightedAverageRemainingContractualLife1	P2Y25D
CY2022	ifrs-full	Disclosure Of Earnings Per Share Explanatory DisclosureOfEarningsPerShareExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>15.</b></td><td><b>Basic and Diluted Loss per Share</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calculations of basic and diluted loss per share for the year ended June 30, 2022 were based on the net loss of $9,446,454 (2021 – net loss of $552,436; 2020 – net loss of $182,116) and the weighted average number of basic and diluted common shares outstanding of 15,884,041 (2021 – 13,008,669; 2020 – 13,007,995).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The details of the computation of basic and diluted loss per share are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net Loss</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">(9,446,454</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(552,436</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">182,116</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>#</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">#</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">#</span></td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Basic weighted-average number of shares outstanding</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">15,884,041</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,008,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,007,995</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Assumed conversion of dilutive stock options and warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Diluted weighted-average number of shares outstanding</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">15,884,041</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,008,669</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,007,995</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>$</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">$</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">$</span></td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt"><div style="-sec-ix-hidden: hidden-fact-139; -sec-ix-hidden: hidden-fact-138; -sec-ix-hidden: hidden-fact-137">Basic and diluted loss per share</div></td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(0.60</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.04</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.01</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table>
CY2022	ifrs-full	Profit Loss Attributable To Owners Of Parent ProfitLossAttributableToOwnersOfParent	9446454	cad
CY2021	ifrs-full	Profit Loss Attributable To Owners Of Parent ProfitLossAttributableToOwnersOfParent	552436	cad
CY2020	ifrs-full	Profit Loss Attributable To Owners Of Parent ProfitLossAttributableToOwnersOfParent	182116	cad
CY2022	ifrs-full	Weighted Average Shares WeightedAverageShares	15884041	shares
CY2022	ifrs-full	Adjusted Weighted Average Shares AdjustedWeightedAverageShares	15884041	shares
CY2021	ifrs-full	Weighted Average Shares WeightedAverageShares	13008669	shares
CY2021	ifrs-full	Adjusted Weighted Average Shares AdjustedWeightedAverageShares	13008669	shares
CY2020	ifrs-full	Weighted Average Shares WeightedAverageShares	13007995	shares
CY2020	ifrs-full	Adjusted Weighted Average Shares AdjustedWeightedAverageShares	13007995	shares
CY2022	ifrs-full	Earnings Per Share Explanatory EarningsPerShareExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>2022</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net Loss</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">(9,446,454</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(552,436</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">182,116</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>#</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">#</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">#</span></td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Basic weighted-average number of shares outstanding</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">15,884,041</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,008,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,007,995</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Assumed conversion of dilutive stock options and warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Diluted weighted-average number of shares outstanding</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">15,884,041</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,008,669</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,007,995</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center"><span style="font-size: 10pt"><b>$</b></span></td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">$</span></td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center"><span style="font-size: 10pt">$</span></td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt"><div style="-sec-ix-hidden: hidden-fact-139; -sec-ix-hidden: hidden-fact-138; -sec-ix-hidden: hidden-fact-137">Basic and diluted loss per share</div></td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(0.60</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.04</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.01</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table>
CY2022	ifrs-full	Other Adjustments To Reconcile Profit Loss OtherAdjustmentsToReconcileProfitLoss	-9446454	cad
CY2021	ifrs-full	Other Adjustments To Reconcile Profit Loss OtherAdjustmentsToReconcileProfitLoss	-552436	cad
CY2020	ifrs-full	Other Adjustments To Reconcile Profit Loss OtherAdjustmentsToReconcileProfitLoss	182116	cad
CY2022	ifrs-full	Weighted Average Shares WeightedAverageShares	15884041	shares
CY2021	ifrs-full	Weighted Average Shares WeightedAverageShares	13008669	shares
CY2020	ifrs-full	Weighted Average Shares WeightedAverageShares	13007995	shares
CY2022	ifrs-full	Adjusted Weighted Average Shares AdjustedWeightedAverageShares	15884041	shares
CY2021	ifrs-full	Adjusted Weighted Average Shares AdjustedWeightedAverageShares	13008669	shares
CY2020	ifrs-full	Adjusted Weighted Average Shares AdjustedWeightedAverageShares	13007995	shares
CY2022	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.6
CY2021	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.04
CY2020	ifrs-full	Basic Earnings Loss Per Share BasicEarningsLossPerShare	-0.01
CY2022	ifrs-full	Disclosure Of Related Party Explanatory DisclosureOfRelatedPartyExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>16.</b></td><td><b>Related Party Transactions</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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. The remuneration of directors and other members of key management personnel during the years ended June 30, 2022, 2021 and 2020 were as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Directors’ and officers’ consulting fees</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">687,585</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">200,858</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">100,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Exploration and evaluation expenditures</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">220,765</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">48,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">57,243</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">908,350</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">248,858</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">157,743</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><i>Directors’ and officers’ consulting fees</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">During the year ended June 30, 2022, $585,615 of fees included in directors’ and officers’ consulting fees had been paid to companies controlled by the Chief Executive Officer, the Chief Operating Officer, and the former and new Chief Financial Officers of Snow Lake.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><i>Exploration and evaluation expenditures</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">During the year ended June 30, 2022, fees of $220,765 (2021 – $48,000) for services rendered by the Company’s VP of Resources Development, and the VP of Exploration, had been capitalized as E&E assets on the consolidated statements of financial position.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Share-based compensation</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended June 30, 2022, the Company had granted certain RSUs and options to various directors and officers. Total stock-based compensation of $8,035,506 (2021 – <span style="-sec-ix-hidden: hidden-fact-140">nil</span>) was recorded in connection with the vesting of these securities.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Related party balances</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All related party balances payable, for services and business expense reimbursements rendered as at June 30, 2022, 2021 and 2020, are non-interest bearing and payable on demand, and are comprised of the following:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Payable to officers and directors</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">110,274</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">236,402</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">205,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">(Receivable) payable to Nova Minerals Ltd.</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(10,287</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,300</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">99,987</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">279,642</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">217,948</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2022	litm	Directors Officers Consulting Fee DirectorsOfficersConsultingFee	687585	cad
CY2021	litm	Directors Officers Consulting Fee DirectorsOfficersConsultingFee	200858	cad
CY2020	litm	Directors Officers Consulting Fee DirectorsOfficersConsultingFee	100500	cad
CY2022	litm	Litm Exploration And Evaluation Expenditure litm_ExplorationAndEvaluationExpenditure	220765	cad
CY2021	litm	Litm Exploration And Evaluation Expenditure litm_ExplorationAndEvaluationExpenditure	48000	cad
CY2020	litm	Litm Exploration And Evaluation Expenditure litm_ExplorationAndEvaluationExpenditure	57243	cad
CY2022	litm	Related Party Cost RelatedPartyCost	908350	cad
CY2021	litm	Related Party Cost RelatedPartyCost	248858	cad
CY2020	litm	Related Party Cost RelatedPartyCost	157743	cad
CY2022	ifrs-full	Revenue From Rendering Of Information Technology Consulting Services RevenueFromRenderingOfInformationTechnologyConsultingServices	585615	cad
CY2022Q2	ifrs-full	Tangible Exploration And Evaluation Assets TangibleExplorationAndEvaluationAssets	220765	cad
CY2021Q2	ifrs-full	Tangible Exploration And Evaluation Assets TangibleExplorationAndEvaluationAssets	48000	cad
CY2022	litm	Stock Based Compensations StockBasedCompensations	8035506	cad
CY2022	ifrs-full	Disclosure Of Transactions Between Related Parties Explanatory DisclosureOfTransactionsBetweenRelatedPartiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Payable to officers and directors</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">110,274</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">236,402</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">205,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">(Receivable) payable to Nova Minerals Ltd.</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(10,287</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,300</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">99,987</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">279,642</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">217,948</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>
CY2022	litm	Payable To Nova Minerals PayableToNovaMinerals	110274	cad
CY2021	litm	Payable To Nova Minerals PayableToNovaMinerals	236402	cad
CY2020	litm	Payable To Nova Minerals PayableToNovaMinerals	205648	cad
CY2022	litm	Receivable Payable To Nova Minerals Ltd ReceivablePayableToNovaMineralsLtd	-10287	cad
CY2021	litm	Receivable Payable To Nova Minerals Ltd ReceivablePayableToNovaMineralsLtd	43240	cad
CY2020	litm	Receivable Payable To Nova Minerals Ltd ReceivablePayableToNovaMineralsLtd	12300	cad
CY2022Q2	ifrs-full	Amounts Payable Related Party Transactions AmountsPayableRelatedPartyTransactions	99987	cad
CY2021Q2	ifrs-full	Amounts Payable Related Party Transactions AmountsPayableRelatedPartyTransactions	279642	cad
CY2020Q2	ifrs-full	Amounts Payable Related Party Transactions AmountsPayableRelatedPartyTransactions	217948	cad
CY2022	ifrs-full	Disclosure Of Income Tax Explanatory DisclosureOfIncomeTaxExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>17.</b></td><td><b>Income Taxes</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 27% (2021 – 27%) to the effective tax rate is as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Net loss before income tax</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">(9,446,454</td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(552,436</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(182,116</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Combined federal and provincial statutory income tax rates</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">27</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected income tax recovery at statutory rates</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,550,543</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">149,158</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,171</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Non-deductible differences</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(1,102,753</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,310</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,711</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in unrecognized deductible temporary differences</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(1,447,790</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(141,848</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(67,882</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total income tax recovery</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-141">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-142">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Unrecognized deductible temporary differences</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The income tax benefit of the following deductible temporary differences has not been recorded in these financial statements because of the uncertainly of their recovery:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Non-capital losses carried forward</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,110,151</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">300,805</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">169,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Exploration and evaluation assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(100,058</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,447</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,266</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">660,396</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,409</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,670,489</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">206,636</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">114,894</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Non-capital losses carried forward</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has non-capital tax losses available to reduce taxes in future years of approximately $4,112,000 (2021 – $1,114,000 ). These losses have expiry dates between 2038 and 2042.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tax attributes are subject to review, and potential adjustment, by tax authorities</p>
CY2022	ifrs-full	Applicable Tax Rate ApplicableTaxRate	0.27	pure
CY2022	litm	Provincial Statutory Income Tax Rate ProvincialStatutoryIncomeTaxRate	0.27	pure
CY2021	ifrs-full	Applicable Tax Rate ApplicableTaxRate	0.27	pure
CY2021	litm	Provincial Statutory Income Tax Rate ProvincialStatutoryIncomeTaxRate	0.27	pure
CY2022	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-9446454	cad
CY2021	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-552436	cad
CY2020	ifrs-full	Profit Loss Before Tax ProfitLossBeforeTax	-182116	cad
CY2022	ifrs-full	Average Effective Tax Rate AverageEffectiveTaxRate	0.27	pure
CY2021	ifrs-full	Average Effective Tax Rate AverageEffectiveTaxRate	0.27	pure
CY2020	ifrs-full	Average Effective Tax Rate AverageEffectiveTaxRate	0.27	pure
CY2022	ifrs-full	Tax Effect From Change In Tax Rate TaxEffectFromChangeInTaxRate	2550543	cad
CY2021	ifrs-full	Tax Effect From Change In Tax Rate TaxEffectFromChangeInTaxRate	149158	cad
CY2020Q2	ifrs-full	Current Accrued Expenses And Other Current Liabilities CurrentAccruedExpensesAndOtherCurrentLiabilities		cad
CY2020	ifrs-full	Tax Effect From Change In Tax Rate TaxEffectFromChangeInTaxRate	49171	cad
CY2022	ifrs-full	Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss	1102753	cad
CY2021	ifrs-full	Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss	7310	cad
CY2020	ifrs-full	Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss	-18711	cad
CY2022	ifrs-full	Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome	-1447790	cad
CY2021	ifrs-full	Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome	-141848	cad
CY2020	ifrs-full	Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome	-67882	cad
CY2022	ifrs-full	Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences	1110151	cad
CY2021	ifrs-full	Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences	300805	cad
CY2020	ifrs-full	Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences	169751	cad
CY2022	ifrs-full	Payments For Exploration And Evaluation Expenses PaymentsForExplorationAndEvaluationExpenses	100058	cad
CY2021	ifrs-full	Payments For Exploration And Evaluation Expenses PaymentsForExplorationAndEvaluationExpenses	109447	cad
CY2020	ifrs-full	Payments For Exploration And Evaluation Expenses PaymentsForExplorationAndEvaluationExpenses	60266	cad
CY2022	ifrs-full	Other Components Of Deferred Tax Expense Income OtherComponentsOfDeferredTaxExpenseIncome	660396	cad
CY2021	ifrs-full	Other Components Of Deferred Tax Expense Income OtherComponentsOfDeferredTaxExpenseIncome	15278	cad
CY2020	ifrs-full	Other Components Of Deferred Tax Expense Income OtherComponentsOfDeferredTaxExpenseIncome	5409	cad
CY2022	ifrs-full	Other Comprehensive Income Before Tax OtherComprehensiveIncomeBeforeTax	1670489	cad
CY2021	ifrs-full	Other Comprehensive Income Before Tax OtherComprehensiveIncomeBeforeTax	206636	cad
CY2020	ifrs-full	Other Comprehensive Income Before Tax OtherComprehensiveIncomeBeforeTax	114894	cad
CY2022	ifrs-full	Tax Effect Of Tax Losses TaxEffectOfTaxLosses	4112000	cad
CY2021	ifrs-full	Tax Effect Of Tax Losses TaxEffectOfTaxLosses	1114000	cad
CY2022	litm	Loss Carried Forward Description LossCarriedForwardDescription	These losses have expiry dates between 2038 and 2042.
CY2022	ifrs-full	Disclosure Of Financial Risk Management Explanatory DisclosureOfFinancialRiskManagementExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in"><b>19.</b></td><td><b>Financial Risks</b></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Credit risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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, other receivable (excluding sales tax receivable) 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 banks in Canada, which is closely monitored by management. Management believes that the credit risk concentration with respect to financial instruments included in cash, other receivables and due from related party is minimal.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Liquidity risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at June 30, 2022, the Company had a cash balance of $23,792,408 (June 30, 2021 – $318,844; June 30, 2020 – $143,089), to settle current liabilities of $1,780,877 (June 30, 2021 – $1,374,819; June 30, 2020 – $343,734).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at June 30, 2022, the Company had the following contractual obligations:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than<br/> 1 year</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>1 to 3 years</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>3 to 5 years</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Total</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accounts payable and accrued liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,182,449</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-144"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,182,449</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-146">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">110,274</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Loan payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,157</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">201,157</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.25in; padding-left: 0.25in">Derivative liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company manages liquidity risk by maintaining adequate cash reserves and by continuously monitoring forecast 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.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Interest rate risk </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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. The Company’s loans payable and convertible debentures have fixed interest rates. As at June 30, 2022, 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Foreign exchange risk </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>COVID-19</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; ">In December 2019, COVID-19 surfaced in Wuhan, China. The World Health Organization declared a global emergency on January 30, 2020 with respect to the outbreak then characterized it as a pandemic on March 11, 2020. The outbreak has spread globally, and it has continued to cause companies and various international jurisdictions to impose restrictions, such as quarantines, closures, cancellations and travel restrictions. The duration of the business disruptions internationally and related financial impact to the global economy remains highly uncertain at this time, as COVID-19 continues to evolve.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; "> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s operations had been impacted by a delay in projects and restricted access to financing, but management expects the situation to improve once lockdown restrictions will be lifted with vaccine roll-out. Ultimately, the extent to which the COVID-19 pandemic impacts the Company’s financial results will depend on future developments, which remain highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of the COVID-19 pandemic and actions taken to contain it or its impact, among others. These uncertainties arise from the inability to predict the duration of the outbreak, including the duration of travel restrictions, business closures or disruptions, and quarantine/isolation measures that are currently, or may be put in place by Canada, and other countries to fight the virus. While the extent of the impact remains unknown, the Company anticipates this outbreak may cause supply chain disruptions, and increased government regulations, all of which may negatively impact the Company’s business and financial condition.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Fair value </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As at June 30, 2022, the Company’s financial instruments consisted of cash, other receivables (excluding sales tax recoverable), due from related party, accounts payable, due to related parties, loan payable, and derivative liability. The fair value of other receivables (excluding sales tax recoverable), due from related party, accounts payables and due to related parties are approximately equal to their carrying value due to their short-term nature. As at June 30, 2021, the fair values of the loan payable and convertible debentures 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</td></tr></table><p style="margin-top: 0; margin-bottom: 0"> </p><table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).</td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,792,408</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">23,792,408</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Derivative liability</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(286,997</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-157">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(286,997</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-weight: normal">As at June 30, 2022, the Company’s financial instruments carried at fair value consisted of its cash, which is classified as Level 1, and its derivative liability, 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, 2022, 2021 and 2020.</span></p>
CY2022Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	23792408	cad
CY2021Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	318844	cad
CY2020Q2	ifrs-full	Cash And Cash Equivalents CashAndCashEquivalents	143089	cad
CY2022Q2	ifrs-full	Current Liabilities CurrentLiabilities	1780877	cad
CY2021Q2	ifrs-full	Current Liabilities CurrentLiabilities	1374819	cad
CY2020Q2	ifrs-full	Current Liabilities CurrentLiabilities	343734	cad
CY2022	ifrs-full	Maturity Analysis For Nonderivative Financial Liabilities MaturityAnalysisForNonderivativeFinancialLiabilities	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than<br/> 1 year</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>1 to 3 years</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>3 to 5 years</b></p></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Total</b></p></td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accounts payable and accrued liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,182,449</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-144"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,182,449</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-146">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">110,274</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Loan payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,157</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">201,157</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.25in; padding-left: 0.25in">Derivative liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i> </i></p>
CY2022Q2	ifrs-full	Trade And Other Current Payables TradeAndOtherCurrentPayables	1182449	cad
CY2022Q2	ifrs-full	Trade And Other Payables To Related Parties TradeAndOtherPayablesToRelatedParties	110274	cad
CY2022Q2	ifrs-full	Loans Payable In Default LoansPayableInDefault	201157	cad
CY2022Q2	ifrs-full	Noncurrent Derivative Financial Liabilities NoncurrentDerivativeFinancialLiabilities	286997	cad
CY2022Q2	ifrs-full	Financial Liabilities FinancialLiabilities	1780877	cad
CY2022	ifrs-full	Disclosure Of Fair Value Measurement Of Liabilities Explanatory DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory	<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,792,408</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">23,792,408</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Derivative liability</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(286,997</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-157">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(286,997</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2022Q2	ifrs-full	Other Cash And Cash Equivalents OtherCashAndCashEquivalents	23792408	cad
CY2022Q2	ifrs-full	Noncurrent Derivative Financial Liabilities NoncurrentDerivativeFinancialLiabilities	286997	cad
CY2021Q4	litm	Amount Received For Sustainable Development AmountReceivedForSustainableDevelopment	30995	cad

CY2022

dei

Document Type

DocumentType

20-F

CY2022

dei

Document Registration Statement

DocumentRegistrationStatement

false

CY2022

dei

Document Annual Report

DocumentAnnualReport

true

CY2022

dei

Document Period End Date

DocumentPeriodEndDate

2022-06-30

CY2022

dei

Current Fiscal Year End Date

CurrentFiscalYearEndDate

--06-30

CY2022

dei

Document Fiscal Year Focus

DocumentFiscalYearFocus

2022

CY2022

dei

Document Transition Report

DocumentTransitionReport

false

CY2022

dei

Document Shell Company Report

DocumentShellCompanyReport

false

CY2022

dei

Entity File Number

EntityFileNumber

001-41085

CY2022

dei

Entity Registrant Name

EntityRegistrantName

Snow Lake Resources Ltd.

CY2022

dei

Entity Incorporation State Country Code

EntityIncorporationStateCountryCode

A2

CY2022

dei

Entity Address Address Line1

EntityAddressAddressLine1

242 Hargrave St #1700

CY2022

dei

Entity Address City Or Town

EntityAddressCityOrTown

Winnipeg

CY2022

dei

Entity Address Country

EntityAddressCountry

CA

CY2022

dei

Security12b Title

Security12bTitle

Common Shares, no par value

CY2022

dei

Trading Symbol

TradingSymbol

LITM

CY2022

dei

Security Exchange Name

SecurityExchangeName

NASDAQ

CY2022Q2

dei

Entity Common Stock Shares Outstanding

EntityCommonStockSharesOutstanding

17924758

shares

CY2022

dei

Entity Well Known Seasoned Issuer

EntityWellKnownSeasonedIssuer

No

CY2022

dei

Entity Voluntary Filers

EntityVoluntaryFilers

No

CY2022

dei

Entity Current Reporting Status

EntityCurrentReportingStatus

Yes

CY2022

dei

Entity Interactive Data Current

EntityInteractiveDataCurrent

Yes

CY2022

dei

Entity Filer Category

EntityFilerCategory

Non-accelerated Filer

CY2022

dei

Entity Emerging Growth Company

EntityEmergingGrowthCompany

true

CY2022

dei

Entity Ex Transition Period

EntityExTransitionPeriod

false

CY2022

dei

Icfr Auditor Attestation Flag

IcfrAuditorAttestationFlag

false

CY2022

dei

Entity Shell Company

EntityShellCompany

false

CY2022

dei

Auditor Name

AuditorName

De Visser Gray LLP

CY2022

dei

Auditor Location

AuditorLocation

Vancouver, Canada

CY2022Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

23792408

cad

CY2021Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

318844

cad

CY2022Q2

ifrs-full

Current Receivables From Sale Of Properties

CurrentReceivablesFromSaleOfProperties

294164

cad

CY2021Q2

ifrs-full

Current Receivables From Sale Of Properties

CurrentReceivablesFromSaleOfProperties

10644

cad

CY2022Q2

ifrs-full

Current Prepaid Expenses

CurrentPrepaidExpenses

932150

cad

CY2021Q2

ifrs-full

Current Prepaid Expenses

CurrentPrepaidExpenses

67973

cad

CY2022Q2

ifrs-full

Trade And Other Current Receivables Due From Related Parties

TradeAndOtherCurrentReceivablesDueFromRelatedParties

10287

cad

CY2022Q2

ifrs-full

Current Assets

CurrentAssets

25029009

cad

CY2021Q2

ifrs-full

Current Assets

CurrentAssets

397461

cad

CY2022Q2

ifrs-full

Other Noncurrent Financial Assets

OtherNoncurrentFinancialAssets

12077584

cad

CY2021Q2

ifrs-full

Other Noncurrent Financial Assets

OtherNoncurrentFinancialAssets

5730224

cad

CY2022Q2

ifrs-full

Assets

37106593

cad

CY2021Q2

ifrs-full

Assets

6127685

cad

CY2022Q2

ifrs-full

Trade And Other Current Payables

TradeAndOtherCurrentPayables

1182449

cad

CY2021Q2

ifrs-full

Trade And Other Current Payables

TradeAndOtherCurrentPayables

262125

cad

CY2022Q2

ifrs-full

Trade And Other Current Payables To Related Parties

TradeAndOtherCurrentPayablesToRelatedParties

110274

cad

CY2021Q2

ifrs-full

Trade And Other Current Payables To Related Parties

TradeAndOtherCurrentPayablesToRelatedParties

279642

cad

CY2022Q2

ifrs-full

Shortterm Borrowings

ShorttermBorrowings

201157

cad

CY2021Q2

ifrs-full

Notes And Debentures Issued

NotesAndDebenturesIssued

423139

cad

CY2022Q2

ifrs-full

Current Derivative Financial Liabilities

CurrentDerivativeFinancialLiabilities

286997

cad

CY2021Q2

ifrs-full

Current Derivative Financial Liabilities

CurrentDerivativeFinancialLiabilities

409913

cad

CY2022Q2

ifrs-full

Liabilities

1780877

cad

CY2021Q2

ifrs-full

Liabilities

1374819

cad

CY2022Q2

ifrs-full

Issued Capital

IssuedCapital

39733633

cad

CY2021Q2

ifrs-full

Issued Capital

IssuedCapital

5750252

cad

CY2022Q2

ifrs-full

Capital Redemption Reserve

CapitalRedemptionReserve

6067323

cad

CY2022

ifrs-full

Brokerage Fee Expense

BrokerageFeeExpense

236926

cad

CY2021

ifrs-full

Brokerage Fee Expense

BrokerageFeeExpense

22244

cad

CY2021Q2

ifrs-full

Capital Redemption Reserve

CapitalRedemptionReserve

1154905

cad

CY2022Q2

ifrs-full

Other Reserves

OtherReserves

70295

cad

CY2021Q2

ifrs-full

Other Reserves

OtherReserves

119233

cad

CY2022Q2

ifrs-full

Retained Earnings

RetainedEarnings

-10545535

cad

CY2021Q2

ifrs-full

Retained Earnings

RetainedEarnings

-2271524

cad

CY2022Q2

ifrs-full

Equity

35325716

cad

CY2021Q2

ifrs-full

Equity

4752866

cad

CY2022Q2

ifrs-full

Equity And Liabilities

EquityAndLiabilities

37106593

cad

CY2021Q2

ifrs-full

Equity And Liabilities

EquityAndLiabilities

6127685

cad

CY2022

litm

Stockbased Compensation

StockbasedCompensation

8035506

cad

CY2022

ifrs-full

Professional Fees Expense

ProfessionalFeesExpense

698209

cad

CY2021

ifrs-full

Professional Fees Expense

ProfessionalFeesExpense

174211

cad

CY2020

ifrs-full

Professional Fees Expense

ProfessionalFeesExpense

57272

cad

CY2022

litm

Directors And Officers Consulting Fees

DirectorsAndOfficersConsultingFees

687585

cad

CY2021

litm

Directors And Officers Consulting Fees

DirectorsAndOfficersConsultingFees

200858

cad

CY2020

litm

Directors And Officers Consulting Fees

DirectorsAndOfficersConsultingFees

118700

cad

CY2022

ifrs-full

Insurance Service Expenses From Insurance Contracts Issued

InsuranceServiceExpensesFromInsuranceContractsIssued

681504

cad

CY2020

ifrs-full

Brokerage Fee Expense

BrokerageFeeExpense

3885

cad

CY2022

litm

Consulting Fees

ConsultingFees

220890

cad

CY2021

litm

Consulting Fees

ConsultingFees

34399

cad

CY2020

litm

Consulting Fees

ConsultingFees

43255

cad

CY2022

ifrs-full

Gains Losses On Disposals Of Property Plant And Equipment

GainsLossesOnDisposalsOfPropertyPlantAndEquipment

-167873

cad

CY2021

ifrs-full

Gains Losses On Disposals Of Property Plant And Equipment

GainsLossesOnDisposalsOfPropertyPlantAndEquipment

-140264

cad

CY2022

ifrs-full

General And Administrative Expense

GeneralAndAdministrativeExpense

129415

cad

CY2021

ifrs-full

General And Administrative Expense

GeneralAndAdministrativeExpense

8254

cad

CY2020

ifrs-full

General And Administrative Expense

GeneralAndAdministrativeExpense

20626

cad

CY2022

ifrs-full

Travel Expense

TravelExpense

112074

cad

CY2020

ifrs-full

Travel Expense

TravelExpense

957

cad

CY2022

litm

Amortization Of Transaction Costs

AmortizationOfTransactionCosts

56512

cad

CY2021

litm

Amortization Of Transaction Costs

AmortizationOfTransactionCosts

13284

cad

CY2022

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

33733

cad

CY2022

ifrs-full

Bank And Similar Charges

BankAndSimilarCharges

9343

cad

CY2021

ifrs-full

Bank And Similar Charges

BankAndSimilarCharges

2084

cad

CY2020

ifrs-full

Bank And Similar Charges

BankAndSimilarCharges

2669

cad

CY2022

ifrs-full

Interest Expense

InterestExpense

11069570

cad

CY2021

ifrs-full

Interest Expense

InterestExpense

595598

cad

CY2020

ifrs-full

Interest Expense

InterestExpense

247364

cad

CY2022

ifrs-full

Gains Losses On Change In Fair Value Of Derivatives

GainsLossesOnChangeInFairValueOfDerivatives

1103839

cad

CY2021

ifrs-full

Gains Losses On Change In Fair Value Of Derivatives

GainsLossesOnChangeInFairValueOfDerivatives

32676

cad

CY2022

ifrs-full

Income Tax Expense Continuing Operations

IncomeTaxExpenseContinuingOperations

-109745

cad

CY2021

litm

Recovery Of Accounts Payable

RecoveryOfAccountsPayable

-10740

cad

CY2020

litm

Recovery Of Flow Through Share Liability

RecoveryOfFlowThroughShareLiability

-71249

cad

CY2022

ifrs-full

Foreign Exchange Loss

ForeignExchangeLoss

-409532

cad

CY2021

ifrs-full

Foreign Exchange Loss

ForeignExchangeLoss

254

cad

CY2020

ifrs-full

Foreign Exchange Loss

ForeignExchangeLoss

6001

cad

CY2022

ifrs-full

Other Income

OtherIncome

1623116

cad

CY2021

ifrs-full

Other Income

OtherIncome

43162

cad

CY2020

ifrs-full

Other Income

OtherIncome

65248

cad

CY2022

ifrs-full

Comprehensive Income

ComprehensiveIncome

-9446454

cad

CY2021

ifrs-full

Comprehensive Income

ComprehensiveIncome

-552436

cad

CY2020

ifrs-full

Comprehensive Income

ComprehensiveIncome

-182116

cad

CY2022

ifrs-full

Weighted Average Shares

WeightedAverageShares

15884041

shares

CY2021

ifrs-full

Weighted Average Shares

WeightedAverageShares

13008669

shares

CY2020

ifrs-full

Weighted Average Shares

WeightedAverageShares

13007995

shares

CY2022

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.6

CY2021

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.04

CY2020

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.01

CY2019Q2

ifrs-full

Equity

5389628

cad

CY2020

ifrs-full

Increase Decrease Through Exercise Of Warrants Equity

IncreaseDecreaseThroughExerciseOfWarrantsEquity

113

cad

CY2020

ifrs-full

Profit Loss

ProfitLoss

182116

cad

CY2020Q2

ifrs-full

Equity

5207625

cad

CY2021

ifrs-full

Increase Decrease Through Exercise Of Warrants Equity

IncreaseDecreaseThroughExerciseOfWarrantsEquity

4883

cad

CY2021

ifrs-full

Increase Decrease Through Conversion Of Convertible Instruments

IncreaseDecreaseThroughConversionOfConvertibleInstruments

90769

cad

CY2021

ifrs-full

Issue Of Convertible Instruments

IssueOfConvertibleInstruments

2025

cad

CY2021

ifrs-full

Profit Loss

ProfitLoss

552436

cad

CY2021Q2

ifrs-full

Equity

4752866

cad

CY2022

ifrs-full

Increase Decrease Through Change In Equity Of Subsidiaries

IncreaseDecreaseThroughChangeInEquityOfSubsidiaries

34988520

cad

CY2022

ifrs-full

Share Issue Related Cost

ShareIssueRelatedCost

4233129

cad

CY2022

litm

Issuance Of Conversion Of Debenture

IssuanceOfConversionOfDebenture

863294

cad

CY2022

ifrs-full

Increase Decrease Through Sharebased Payment Transactions

IncreaseDecreaseThroughSharebasedPaymentTransactions

8035506

cad

CY2022

ifrs-full

Increase Decrease Through Exercise Of Warrants Equity

IncreaseDecreaseThroughExerciseOfWarrantsEquity

365113

cad

CY2022

ifrs-full

Profit Loss

ProfitLoss

9446454

cad

CY2022Q2

ifrs-full

Equity

35325716

cad

CY2022

ifrs-full

Profit Loss

ProfitLoss

9446454

cad

CY2021

ifrs-full

Profit Loss

ProfitLoss

552436

cad

CY2020

ifrs-full

Profit Loss

ProfitLoss

182116

cad

CY2021

litm

Recovery Of Accounts Payable

RecoveryOfAccountsPayable

-10740

cad

CY2022

litm

Interest Expense And Accretion

InterestExpenseAndAccretion

148406

cad

CY2021

litm

Interest Expense And Accretion

InterestExpenseAndAccretion

140264

cad

CY2022

litm

Amortization Of Transaction Costs

AmortizationOfTransactionCosts

56512

cad

CY2021

litm

Amortization Of Transaction Costs

AmortizationOfTransactionCosts

13284

cad

CY2022

ifrs-full

Adjustments For Sharebased Payments

AdjustmentsForSharebasedPayments

8035506

cad

CY2022

ifrs-full

Gains Losses On Financial Assets At Fair Value Through Profit Or Loss

GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss

1103839

cad

CY2021

ifrs-full

Gains Losses On Financial Assets At Fair Value Through Profit Or Loss

GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss

32676

cad

CY2020

ifrs-full

Adjustments For Losses Gains On Disposal Of Noncurrent Assets

AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets

-71249

cad

CY2022

ifrs-full

Adjustments For Unrealised Foreign Exchange Losses Gains

AdjustmentsForUnrealisedForeignExchangeLossesGains

-14000

cad

CY2020

ifrs-full

Adjustments For Unrealised Foreign Exchange Losses Gains

AdjustmentsForUnrealisedForeignExchangeLossesGains

2675

cad

CY2022

ifrs-full

Adjustments For Reconcile Profit Loss

AdjustmentsForReconcileProfitLoss

-2323869

cad

CY2021

ifrs-full

Adjustments For Reconcile Profit Loss

AdjustmentsForReconcileProfitLoss

-442304

cad

CY2020

ifrs-full

Adjustments For Reconcile Profit Loss

AdjustmentsForReconcileProfitLoss

-250690

cad

CY2022

ifrs-full

Income Taxes Paid Refund Classified As Operating Activities

IncomeTaxesPaidRefundClassifiedAsOperatingActivities

-283520

cad

CY2021

ifrs-full

Income Taxes Paid Refund Classified As Operating Activities

IncomeTaxesPaidRefundClassifiedAsOperatingActivities

-47

cad

CY2020

ifrs-full

Income Taxes Paid Refund Classified As Operating Activities

IncomeTaxesPaidRefundClassifiedAsOperatingActivities

16034

cad

CY2022

ifrs-full

Adjustments For Decrease Increase In Prepaid Expenses

AdjustmentsForDecreaseIncreaseInPrepaidExpenses

-864177

cad

CY2021

ifrs-full

Adjustments For Decrease Increase In Prepaid Expenses

AdjustmentsForDecreaseIncreaseInPrepaidExpenses

-67179

cad

CY2020

ifrs-full

Adjustments For Decrease Increase In Prepaid Expenses

AdjustmentsForDecreaseIncreaseInPrepaidExpenses

17357

cad

CY2022

ifrs-full

Adjustments For Increase Decrease In Trade Account Payable

AdjustmentsForIncreaseDecreaseInTradeAccountPayable

552249

cad

CY2021

ifrs-full

Adjustments For Increase Decrease In Trade Account Payable

AdjustmentsForIncreaseDecreaseInTradeAccountPayable

84360

cad

CY2020

ifrs-full

Adjustments For Increase Decrease In Trade Account Payable

AdjustmentsForIncreaseDecreaseInTradeAccountPayable

-52992

cad

CY2022

ifrs-full

Adjustments For Decrease Increase In Trade Account Receivable

AdjustmentsForDecreaseIncreaseInTradeAccountReceivable

-179655

cad

CY2021

ifrs-full

Adjustments For Decrease Increase In Trade Account Receivable

AdjustmentsForDecreaseIncreaseInTradeAccountReceivable

61694

cad

CY2020

ifrs-full

Adjustments For Decrease Increase In Trade Account Receivable

AdjustmentsForDecreaseIncreaseInTradeAccountReceivable

12310

cad

CY2022

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-3098972

cad

CY2021

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-363476

cad

CY2020

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-257981

cad

CY2020

ifrs-full

Interest Paid Classified As Financing Activities

InterestPaidClassifiedAsFinancingActivities

1114

cad

CY2021

ifrs-full

Proceeds From Issue Of Bonds Notes And Debentures

ProceedsFromIssueOfBondsNotesAndDebentures

805000

cad

CY2022

ifrs-full

Proceeds From Issuing Shares

ProceedsFromIssuingShares

34988520

cad

CY2022

ifrs-full

Payments For Share Issue Costs

PaymentsForShareIssueCosts

2995448

cad

CY2022

ifrs-full

Proceeds From Borrowings Classified As Financing Activities

ProceedsFromBorrowingsClassifiedAsFinancingActivities

873253

cad

CY2022

ifrs-full

Repayments Of Borrowings Classified As Financing Activities

RepaymentsOfBorrowingsClassifiedAsFinancingActivities

679617

cad

CY2022

ifrs-full

Proceeds From Exercise Of Options

ProceedsFromExerciseOfOptions

365114

cad

CY2021

ifrs-full

Proceeds From Exercise Of Options

ProceedsFromExerciseOfOptions

4883

cad

CY2020

ifrs-full

Proceeds From Exercise Of Options

ProceedsFromExerciseOfOptions

113

cad

CY2022

ifrs-full

Cash Flows From Used In Financing Activities

CashFlowsFromUsedInFinancingActivities

32551822

cad

CY2021

ifrs-full

Cash Flows From Used In Financing Activities

CashFlowsFromUsedInFinancingActivities

809883

cad

CY2020

ifrs-full

Cash Flows From Used In Financing Activities

CashFlowsFromUsedInFinancingActivities

-1001

cad

CY2022

ifrs-full

Purchase Of Intangible Assets Classified As Investing Activities

PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities

5979286

cad

CY2021

ifrs-full

Purchase Of Intangible Assets Classified As Investing Activities

PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities

270652

cad

CY2020

ifrs-full

Purchase Of Intangible Assets Classified As Investing Activities

PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities

196928

cad

CY2022

ifrs-full

Cash Flows From Used In Investing Activities

CashFlowsFromUsedInInvestingActivities

-5979286

cad

CY2021

ifrs-full

Cash Flows From Used In Investing Activities

CashFlowsFromUsedInInvestingActivities

-270652

cad

CY2020

ifrs-full

Cash Flows From Used In Investing Activities

CashFlowsFromUsedInInvestingActivities

-196928

cad

CY2022

ifrs-full

Increase Decrease In Cash And Cash Equivalents

IncreaseDecreaseInCashAndCashEquivalents

23473564

cad

CY2021

ifrs-full

Increase Decrease In Cash And Cash Equivalents

IncreaseDecreaseInCashAndCashEquivalents

175755

cad

CY2020

ifrs-full

Increase Decrease In Cash And Cash Equivalents

IncreaseDecreaseInCashAndCashEquivalents

-455910

cad

CY2021Q2

ifrs-full

Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale

CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale

318844

cad

CY2020Q2

ifrs-full

Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale

CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale

143089

cad

CY2019Q2

ifrs-full

Cash And Cash Equivalents Classified As Part Of Disposal Group Held For Sale

CashAndCashEquivalentsClassifiedAsPartOfDisposalGroupHeldForSale

598999

cad

CY2022Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

23792408

cad

CY2021Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

318844

cad

CY2020Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

143089

cad

CY2022

ifrs-full

Adjustments For Increase Decrease In Other Operating Payables

AdjustmentsForIncreaseDecreaseInOtherOperatingPayables

485089

cad

CY2021

ifrs-full

Adjustments For Increase Decrease In Other Operating Payables

AdjustmentsForIncreaseDecreaseInOtherOperatingPayables

117015

cad

CY2020

ifrs-full

Adjustments For Increase Decrease In Other Operating Payables

AdjustmentsForIncreaseDecreaseInOtherOperatingPayables

54322

cad

CY2022

ifrs-full

Disclosure Of Going Concern Explanatory

DisclosureOfGoingConcernExplanatory

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">Nature of Operations and Going Concern</td> </tr></table> Snow Lake Resources Ltd., d/b/a Snow Lake Lithium Ltd. (“Snow Lake” or the “Company”) was incorporated under the Canada Business Corporations Act 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. and Snow Lake (Crowduck) Ltd. The corporate and principal place of business is 242 Hargrave St. #1700, Winnipeg, Manitoba, R3C 0V1 Canada. On November 22, 2021, the Company was listed for trading under the NASDAQ Composite under the ticker symbol “LITM”. On November 23, 2021, the Company closed its initial public offering (“IPO”) through the issuance of 3,680,000 common shares, at a price of $9.51 (USD $7.50) per share for gross proceeds of $34,988,520 (USD $27,600,000). 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. For the year ended June 30, 2022, the Company incurred a net loss of $9,446,454 (2021 – $552,436; 2020 – $182,116) and negative cash flow from operations of $3,098,972 (2021 – $363,476; 2020 – $257,981), and as at June 30, 2022, the Company had an accumulated deficit of $10,545,535 (June 30, 2021 – accumulated deficit of $2,271,524; June 30, 2020 – accumulated deficit of $1,719,088). The Company had 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. The unpredictability of the mining business, and the continued evolution of the coronavirus (“COVID-19”) pandemic represent material uncertainties which may cast significant doubt upon the Company’s ability to continue as a going concern. 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.

CY2021Q4

litm

Number Of Share Issued

NumberOfShareIssued

3680000

shares

CY2021Q4

ifrs-full

Weighted Average Share Price2019

WeightedAverageSharePrice2019

9.51

CY2021Q4

ifrs-full

Weighted Average Share Price2019

WeightedAverageSharePrice2019

7.5

CY2021Q4

ifrs-full

Proceeds From Issuing Shares

ProceedsFromIssuingShares

34988520

cad

CY2021Q4

ifrs-full

Proceeds From Issuing Shares

ProceedsFromIssuingShares

27600000

usd

CY2022

ifrs-full

Profit Loss

ProfitLoss

9446454

cad

CY2021

ifrs-full

Profit Loss

ProfitLoss

552436

cad

CY2020

ifrs-full

Profit Loss

ProfitLoss

182116

cad

CY2022

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-3098972

cad

CY2021

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-363476

cad

CY2020

ifrs-full

Cash Flows From Used In Operating Activities

CashFlowsFromUsedInOperatingActivities

-257981

cad

CY2022Q2

ifrs-full

Retained Earnings

RetainedEarnings

-10545535

cad

CY2021Q2

ifrs-full

Retained Earnings

RetainedEarnings

-2271524

cad

CY2020Q2

ifrs-full

Retained Earnings

RetainedEarnings

-1719088

cad

CY2022

ifrs-full

Disclosure Of Basis Of Consolidation Explanatory

DisclosureOfBasisOfConsolidationExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">2.</td><td>Basis of Presentation</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td>Statement of Compliance</td></tr></table> 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. These consolidated financial statements were reviewed, approved and authorized for issuance by the Board of Directors (the “Board”) of the Company on October 31, 2022. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td>Basis of Measurement </td></tr></table> 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(c)</td><td>Basis of Consolidation</td></tr></table> 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td>Functional Currency</td></tr></table> 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">Significant Accounting Judgments and Estimates</td></tr></table> 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. Items for which actual results may differ materially from these estimates are described as follows: Going concern 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 and the Company's cash position at year-end. Fair value of financial assets and financial liabilities 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. Economic recoverability of future economic benefits of exploration and evaluation assets Management has determined that exploration and evaluation (“E&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. Provisions 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. Income taxes 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. 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. In addition, future changes in tax laws could limit the ability of the Company to obtain tax deductions in future periods. To the extent that future cash flows and taxable income differ significantly from estimates, the ability of the Company to realize the net deferred tax assets recorded at the reporting date could be impacted. Options and warrants Options and warrants, including finders’ warrants, are initially recognized at fair value, based on the application of the Black-Scholes valuation model (“Black-Scholes”). This pricing model requires management to make various assumptions and estimates which are susceptible to uncertainty, including 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. Changes in these input assumptions can significantly affect the fair value estimate. Expected credit losses on financial assets 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.

CY2022

ifrs-full

Disclosure Of Summary Of Significant Accounting Policies Explanatory

DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">3.</td><td>Summary of Significant Accounting Policies </td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td style="text-align: justify">Current and Non-Current Classification</td></tr></table> Assets and liabilities are presented in the consolidated statements of financial position based on current and non-current classification. 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. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td style="text-align: justify">Cash </td></tr></table> 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 counsel which is available on demand. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(c)</td><td style="text-align: justify">Exploration and Evaluation Assets</td></tr></table> Title to E&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. The Company accounts for E&E assets in accordance with IFRS 6 – Exploration for and Evaluation of Mineral Properties. 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&E activities, including general administrative overhead costs, are expensed in the period in which they occur. 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. When a project is deemed to no longer have commercially viable prospects to the Company, E&E expenditures in respect of that project are deemed to be impaired. As a result, those E&E expenditure costs, in excess of the estimated recoverable amount, are written off to the consolidated statements of loss and comprehensive loss. The Company assesses E&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. Once the technical feasibility and commercial viability of extracting the mineral resource has been determined, the property is considered a mine under development. E&E assets are also tested for impairment before the assets are transferred to development properties. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td style="text-align: justify">Financial Instruments</td></tr></table> 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. Classification 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. 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, loan payable, convertible debentures and derivative liability. Fair value through profit or loss 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. Financial assets at fair value through other comprehensive income 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. 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, 2022 and 2021, the Company did not have any financial assets at FVTOCI. Amortized cost 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. The Company’s classification of financial assets and financial liabilities is summarized below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; width: 50%; text-align: justify">Cash</td> <td style="white-space: nowrap; width: 50%; text-align: justify">FVTPL</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Due to/from related parties</td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Accounts payable </td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Loan payable</td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Convertible debentures</td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Derivative liability</td> <td style="white-space: nowrap; text-align: justify">FVTPL</td></tr> </table> Measurement 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. 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. Expected credit loss impairment model 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. 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. Derecognition The Company derecognizes financial assets only when the contractual rights to cash flows 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. 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. Gains or losses on derecognition are generally recognized in profit or loss. Determination of fair value 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. The fair value hierarchy has the following levels: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">Impairment of Assets</td></tr></table> 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. 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 value-in-use (“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. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(f)</td><td style="text-align: justify">Impairment of Non-Financial Assets</td></tr></table> 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 recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(g)</td><td style="text-align: justify">Convertible Debts</td></tr></table> If convertible debts can be converted to equity at a fixed conversion rate at the option of the holder, the liability component of the convertible debts is recognized initially at the fair value of a similar liability that does not have an equity conversion option. The conversion component is initially valued at fair value based on generally accepted valuation techniques, with the residual value of the convertible debt allocated to loan liability and warrant components. Subsequent to initial recognition, the liability component of a convertible debt is measured at amortized cost using the effective interest method and accreted to face value over the term of the convertible debt. If convertible debts are convertible to equity at a variable conversion rate, where the quantity of shares or units into which the debts are convertible varies based on changes in variables affecting calculation of the conversion price, the value of the conversion component is first calculated and classified as a derivative liability, with the residual value allocated to the loan liability component, which is recognized as a liability and, where applicable, to warrants issued to debenture holders, which are recognized in reserves. Subsequent to initial recognition, the liability component of a convertible debts is measured at amortized cost using the effective interest method and accreted to face value over the terms of the convertible debts. The conversion component of the convertible debts is remeasured to fair value at the end of each reporting period using Black-Scholes, with gains or losses on remeasurement recognized in profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption value is recognized as an adjustment to accretion expense over the period of the borrowings using the effective interest method. Convertible debts are classified as current liability unless the Company has an unconditional right to defer settlement of the liability, or a portion of the liability, for at least 12 months after the reporting date. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(h)</td><td style="text-align: justify">Provisions</td></tr></table> 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. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(i)</td><td style="text-align: justify">Income Taxes</td></tr></table> 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. 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. 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. 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. 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. Estimates 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(j)</td><td style="text-align: justify">Share Capital</td></tr></table> Common shares are classified as share capital. Costs directly attributable to the issue of common shares are recognized as a deduction from share capital, net of any tax effects. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(k)</td><td style="text-align: justify">Share-Based Payments Transactions</td></tr></table> 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 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 using Black–Scholes. The fair value of equity-settled share-based compensation transactions are recognized as an expense with a corresponding increase in the share-based payments reserve. Amounts recorded for cancelled or expired unexercised options are transferred to accumulated deficit in the period of which the cancellation or expiry occurs. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(l)</td><td style="text-align: justify">Warrants</td></tr></table> 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 issue. Warrants are initially recorded as a part of the reserves in warrant in equity at the recognized fair value. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(m)</td><td style="text-align: justify">Flow-Through Shares</td></tr></table> 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. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(n)</td><td style="text-align: justify">Loss Per Share</td></tr></table> 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(o)</td><td style="text-align: justify">Foreign Currency Translation </td></tr></table> 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. 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. 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(p)</td><td style="text-align: justify">Related Party Transactions</td></tr></table> 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. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(q)</td><td style="text-align: justify">Adoption of New Accounting Standards and Amendments</td></tr></table> The Company adopted the following amendments, effective July 1, 2021. The changes were made in accordance with the applicable transitional provisions. The Company early-adopted these amendments and had assessed that there was no material impact upon their adoption on its consolidated financial statements: Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”) In January 2020, the IASB issued amendments to IAS 1 which clarify the requirements for classifying liabilities as either current or non-current by: (i) specifying that the conditions which exist at the end of the reporting period determine if a right to defer settlement of a liability exists; (ii) clarifying that settlement of a liability refers to the transfer to the counterparty of cash, equity instruments, other assets or services; (iii) clarifying that classification is unaffected by management’s expectation about events after the balance sheet date; and (iv) clarifying the classification requirements for debt an entity may settle by converting it into equity. The amendments clarify existing requirements, rather than make changes to the requirements, and so are not expected to have a significant impact on an entity’s financial statements. However, the clarifications may result in reclassification of some liabilities from current to non-current or vice-versa, which could impact an entity’s loan covenants. Because of this impact, the IASB has provided a longer effective date to allow entities to prepare for these amendments. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(r)</td><td style="text-align: justify">Recent Accounting Pronouncements</td></tr></table> As at the date of authorization of these consolidated financial statements, the IASB and the IFRS Interpretations Committee had issued certain pronouncements that are mandatory for the Company’s accounting periods commencing on or after July 1, 2022. Many are not applicable or do not have a significant impact to the Company, have been excluded. The Company had assessed that no material impact is expected upon the adoption of the following amendments on its consolidated financial statements: Amendments to IAS 37 – Provisions, Contingent Liabilities and Contingent Assets (“IAS 37”) In May 2020, the IASB issued amendments to update IAS 37. The amendments specify that in assessing whether a contract is onerous under IAS 37, the cost of fulfilling a contract includes both the incremental costs and an allocation of costs that relate directly to contract activities. The amendments also include examples of costs that do, and do not, relate directly to a contract. These amendments are effective for annual periods beginning on or after January 1, 2022. Earlier application is permitted. Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”) In February 2021, the IASB issued Definition of Accounting Estimates, which amended IAS 8. The amendments clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. That distinction is important because changes in accounting estimates are applied prospectively only to future transactions and other future events, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events. The amendments to IAS 8 are effective for annual periods beginning on or after January 1, 2023. Early application is permitted.

CY2022

ifrs-full

Description Of Accounting Policy For Noncurrent Assets Or Disposal Groups Classified As Held For Sale And Discontinued Operations Explanatory

DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td style="text-align: justify">Current and Non-Current Classification</td></tr></table> Assets and liabilities are presented in the consolidated statements of financial position based on current and non-current classification. 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. 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.

CY2022

ifrs-full

Description Of Accounting Policy For Cash Flows Explanatory

DescriptionOfAccountingPolicyForCashFlowsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td style="text-align: justify">Cash </td></tr></table> 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 counsel which is available on demand.

CY2022

ifrs-full

Description Of Accounting Policy For Exploration And Evaluation Expenditures

DescriptionOfAccountingPolicyForExplorationAndEvaluationExpenditures

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(c)</td><td style="text-align: justify">Exploration and Evaluation Assets</td></tr></table> Title to E&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. The Company accounts for E&E assets in accordance with IFRS 6 – Exploration for and Evaluation of Mineral Properties. 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&E activities, including general administrative overhead costs, are expensed in the period in which they occur. 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. When a project is deemed to no longer have commercially viable prospects to the Company, E&E expenditures in respect of that project are deemed to be impaired. As a result, those E&E expenditure costs, in excess of the estimated recoverable amount, are written off to the consolidated statements of loss and comprehensive loss. The Company assesses E&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. Once the technical feasibility and commercial viability of extracting the mineral resource has been determined, the property is considered a mine under development. E&E assets are also tested for impairment before the assets are transferred to development properties. 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.

CY2022

ifrs-full

Description Of Accounting Policy For Financial Instruments Explanatory

DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td style="text-align: justify">Financial Instruments</td></tr></table> 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. Classification 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. 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, loan payable, convertible debentures and derivative liability. Fair value through profit or loss 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. Financial assets at fair value through other comprehensive income 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. 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, 2022 and 2021, the Company did not have any financial assets at FVTOCI. Amortized cost 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. The Company’s classification of financial assets and financial liabilities is summarized below: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; width: 50%; text-align: justify">Cash</td> <td style="white-space: nowrap; width: 50%; text-align: justify">FVTPL</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Due to/from related parties</td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Accounts payable </td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Loan payable</td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Convertible debentures</td> <td style="white-space: nowrap; text-align: justify">Amortized cost</td></tr> <tr style="vertical-align: bottom; "> <td style="white-space: nowrap; text-align: justify">Derivative liability</td> <td style="white-space: nowrap; text-align: justify">FVTPL</td></tr> </table> Measurement 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. 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. Expected credit loss impairment model 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. 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. Derecognition The Company derecognizes financial assets only when the contractual rights to cash flows 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. 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. Gains or losses on derecognition are generally recognized in profit or loss. Determination of fair value 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. The fair value hierarchy has the following levels: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).</td></tr></table>

CY2022Q2

ifrs-full

Other Liabilities

OtherLiabilities

1182449

cad

CY2021Q2

ifrs-full

Other Liabilities

OtherLiabilities

262125

cad

CY2022

ifrs-full

Description Of Accounting Policy For Impairment Of Assets Explanatory

DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">Impairment of Assets</td></tr></table> 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. 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 value-in-use (“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. 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.

CY2020Q2

litm

Advances Made To Suppliers And Deposits

AdvancesMadeToSuppliersAndDeposits

794

cad

CY2022

ifrs-full

Description Of Accounting Policy For Impairment Of Nonfinancial Assets Explanatory

DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(f)</td><td style="text-align: justify">Impairment of Non-Financial Assets</td></tr></table> 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 recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. 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.

CY2022

litm

Disclosure Of Convertible Debt Securities Explanatory

DisclosureOfConvertibleDebtSecuritiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(g)</td><td style="text-align: justify">Convertible Debts</td></tr></table> If convertible debts can be converted to equity at a fixed conversion rate at the option of the holder, the liability component of the convertible debts is recognized initially at the fair value of a similar liability that does not have an equity conversion option. The conversion component is initially valued at fair value based on generally accepted valuation techniques, with the residual value of the convertible debt allocated to loan liability and warrant components. Subsequent to initial recognition, the liability component of a convertible debt is measured at amortized cost using the effective interest method and accreted to face value over the term of the convertible debt. If convertible debts are convertible to equity at a variable conversion rate, where the quantity of shares or units into which the debts are convertible varies based on changes in variables affecting calculation of the conversion price, the value of the conversion component is first calculated and classified as a derivative liability, with the residual value allocated to the loan liability component, which is recognized as a liability and, where applicable, to warrants issued to debenture holders, which are recognized in reserves. Subsequent to initial recognition, the liability component of a convertible debts is measured at amortized cost using the effective interest method and accreted to face value over the terms of the convertible debts. The conversion component of the convertible debts is remeasured to fair value at the end of each reporting period using Black-Scholes, with gains or losses on remeasurement recognized in profit or loss. Any difference between the proceeds (net of transaction costs) and the redemption value is recognized as an adjustment to accretion expense over the period of the borrowings using the effective interest method. Convertible debts are classified as current liability unless the Company has an unconditional right to defer settlement of the liability, or a portion of the liability, for at least 12 months after the reporting date.

CY2022

ifrs-full

Description Of Accounting Policy For Provisions Explanatory

DescriptionOfAccountingPolicyForProvisionsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(h)</td><td style="text-align: justify">Provisions</td></tr></table> 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. 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.

CY2022

ifrs-full

Description Of Accounting Policy For Issued Capital Explanatory

DescriptionOfAccountingPolicyForIssuedCapitalExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(r)</td><td style="text-align: justify">Recent Accounting Pronouncements</td></tr></table> As at the date of authorization of these consolidated financial statements, the IASB and the IFRS Interpretations Committee had issued certain pronouncements that are mandatory for the Company’s accounting periods commencing on or after July 1, 2022. Many are not applicable or do not have a significant impact to the Company, have been excluded. The Company had assessed that no material impact is expected upon the adoption of the following amendments on its consolidated financial statements: Amendments to IAS 37 – Provisions, Contingent Liabilities and Contingent Assets (“IAS 37”) In May 2020, the IASB issued amendments to update IAS 37. The amendments specify that in assessing whether a contract is onerous under IAS 37, the cost of fulfilling a contract includes both the incremental costs and an allocation of costs that relate directly to contract activities. The amendments also include examples of costs that do, and do not, relate directly to a contract. These amendments are effective for annual periods beginning on or after January 1, 2022. Earlier application is permitted. Amendments to IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors (“IAS 8”) In February 2021, the IASB issued Definition of Accounting Estimates, which amended IAS 8. The amendments clarify how companies should distinguish changes in accounting policies from changes in accounting estimates. That distinction is important because changes in accounting estimates are applied prospectively only to future transactions and other future events, but changes in accounting policies are generally also applied retrospectively to past transactions and other past events. The amendments to IAS 8 are effective for annual periods beginning on or after January 1, 2023. Early application is permitted.

CY2022

ifrs-full

Description Of Accounting Policy For Income Tax Explanatory

DescriptionOfAccountingPolicyForIncomeTaxExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(i)</td><td style="text-align: justify">Income Taxes</td></tr></table> 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. 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. 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. 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. 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. Estimates 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.

CY2022

litm

Description Of Accounting Policy For Share Capital

DescriptionOfAccountingPolicyForShareCapital

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(j)</td><td style="text-align: justify">Share Capital</td></tr></table> Common shares are classified as share capital. Costs directly attributable to the issue of common shares are recognized as a deduction from share capital, net of any tax effects.

CY2022Q2

litm

Total Prepaid Expenses

TotalPrepaidExpenses

932150

cad

CY2021Q2

litm

Total Prepaid Expenses

TotalPrepaidExpenses

67973

cad

CY2020Q2

litm

Total Prepaid Expenses

TotalPrepaidExpenses

794

cad

CY2022

ifrs-full

Description Of Accounting Policy For Sharebased Payment Transactions Explanatory

DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(k)</td><td style="text-align: justify">Share-Based Payments Transactions</td></tr></table> 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 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 using Black–Scholes. The fair value of equity-settled share-based compensation transactions are recognized as an expense with a corresponding increase in the share-based payments reserve. Amounts recorded for cancelled or expired unexercised options are transferred to accumulated deficit in the period of which the cancellation or expiry occurs.

CY2022

litm

Description Of Accounting Policy For Warranttext Block

DescriptionOfAccountingPolicyForWarranttextBlock

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(l)</td><td style="text-align: justify">Warrants</td></tr></table> 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 issue. Warrants are initially recorded as a part of the reserves in warrant in equity at the recognized fair value. 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.

CY2022

ifrs-full

Disclosure Of Acquired Receivables Explanatory

DisclosureOfAcquiredReceivablesExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">4.</td><td style="text-align: justify">Sales Tax Receivable</td></tr></table> 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 (“GST/HST”). 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.

CY2020Q2

ifrs-full

Other Liabilities

OtherLiabilities

125786

cad

CY2022

ifrs-full

Description Of Accounting Policy For Treasury Shares Explanatory

DescriptionOfAccountingPolicyForTreasurySharesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(m)</td><td style="text-align: justify">Flow-Through Shares</td></tr></table> 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. 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.

CY2022

ifrs-full

Description Of Accounting Policy For Earnings Per Share Explanatory

DescriptionOfAccountingPolicyForEarningsPerShareExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(n)</td><td style="text-align: justify">Loss Per Share</td></tr></table> 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.

CY2022

ifrs-full

Description Of Accounting Policy For Foreign Currency Translation Explanatory

DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(o)</td><td style="text-align: justify">Foreign Currency Translation </td></tr></table> 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. 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. 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.

CY2022

ifrs-full

Description Of Accounting Policy For Transactions With Related Parties Explanatory

DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(p)</td><td style="text-align: justify">Related Party Transactions</td></tr></table> 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.

CY2022

ifrs-full

Disclosure Of Changes In Accounting Policies Explanatory

DisclosureOfChangesInAccountingPoliciesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(q)</td><td style="text-align: justify">Adoption of New Accounting Standards and Amendments</td></tr></table> The Company adopted the following amendments, effective July 1, 2021. The changes were made in accordance with the applicable transitional provisions. The Company early-adopted these amendments and had assessed that there was no material impact upon their adoption on its consolidated financial statements: Amendments to IAS 1 – Presentation of Financial Statements (“IAS 1”) In January 2020, the IASB issued amendments to IAS 1 which clarify the requirements for classifying liabilities as either current or non-current by: (i) specifying that the conditions which exist at the end of the reporting period determine if a right to defer settlement of a liability exists; (ii) clarifying that settlement of a liability refers to the transfer to the counterparty of cash, equity instruments, other assets or services; (iii) clarifying that classification is unaffected by management’s expectation about events after the balance sheet date; and (iv) clarifying the classification requirements for debt an entity may settle by converting it into equity. The amendments clarify existing requirements, rather than make changes to the requirements, and so are not expected to have a significant impact on an entity’s financial statements. However, the clarifications may result in reclassification of some liabilities from current to non-current or vice-versa, which could impact an entity’s loan covenants. Because of this impact, the IASB has provided a longer effective date to allow entities to prepare for these amendments.

CY2022Q2

ifrs-full

Trade And Other Payables To Trade Suppliers

TradeAndOtherPayablesToTradeSuppliers

568065

cad

CY2021Q2

ifrs-full

Trade And Other Payables To Trade Suppliers

TradeAndOtherPayablesToTradeSuppliers

215640

cad

CY2020Q2

ifrs-full

Trade And Other Payables To Trade Suppliers

TradeAndOtherPayablesToTradeSuppliers

125786

cad

CY2022Q2

ifrs-full

Current Accrued Expenses And Other Current Liabilities

CurrentAccruedExpensesAndOtherCurrentLiabilities

614384

cad

CY2021Q2

ifrs-full

Current Accrued Expenses And Other Current Liabilities

CurrentAccruedExpensesAndOtherCurrentLiabilities

46485

cad

CY2022

ifrs-full

Disclosure Of Prepayments And Other Assets Explanatory

DisclosureOfPrepaymentsAndOtherAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">5.</td><td style="text-align: justify">Prepaid Expenses</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: justify"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Prepaid insurance</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 7%; font-weight: bold; text-align: right">483,278</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">4,796</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Advances made to suppliers and deposits</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">448,872</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">63,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">932,150</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">67,973</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">794</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

CY2022

ifrs-full

Disclosure Of Expenses Explanatory

DisclosureOfExpensesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt; text-align: justify"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30, 2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">June 30, 2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Prepaid insurance</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 7%; font-weight: bold; text-align: right">483,278</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">4,796</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">-</div></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Advances made to suppliers and deposits</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">448,872</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">63,177</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">932,150</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">67,973</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: right"> </td><td style="border-bottom: Black 4pt double; text-align: right">794</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

CY2022Q2

litm

Prepaid Insurances

PrepaidInsurances

483278

cad

CY2021Q2

litm

Prepaid Insurances

PrepaidInsurances

4796

cad

CY2022Q2

litm

Advances Made To Suppliers And Deposits

AdvancesMadeToSuppliersAndDeposits

448872

cad

CY2021Q2

litm

Advances Made To Suppliers And Deposits

AdvancesMadeToSuppliersAndDeposits

63177

cad

CY2022

litm

Amount Shares Issue Costs

AmountSharesIssueCosts

-4233129

cad

CY2022

ifrs-full

Disclosure Of Exploration And Evaluation Assets Explanatory

DisclosureOfExplorationAndEvaluationAssetsExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">6.</td><td style="text-align: justify">Exploration and Evaluation Assets</td></tr></table> The following summarizes the movement of the Company’s E&E assets for the years ended June 30, 2022, 2021 and 2020: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; padding-bottom: 1.5pt; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 90%; font-weight: bold">Balance, June 30, 2019</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 7%; font-weight: bold; text-align: right">5,174,451</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Exploration and evaluation expenditures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">222,428</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,396,879</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Exploration and evaluation expenditures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">333,345</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,730,224</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt; text-align: left">Exploration and evaluation expenditures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,347,360</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt; font-weight: bold">Balance, June 30, 2022</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">12,077,584</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>

CY2019Q2

ifrs-full

Intangible Exploration And Evaluation Assets

IntangibleExplorationAndEvaluationAssets

5174451

cad

CY2020

ifrs-full

Disposals Intangible Assets And Goodwill

DisposalsIntangibleAssetsAndGoodwill

222428

cad

CY2020Q2

ifrs-full

Intangible Exploration And Evaluation Assets

IntangibleExplorationAndEvaluationAssets

5396879

cad

CY2021

ifrs-full

Disposals Intangible Assets And Goodwill

DisposalsIntangibleAssetsAndGoodwill

333345

cad

CY2021Q2

ifrs-full

Intangible Exploration And Evaluation Assets

IntangibleExplorationAndEvaluationAssets

5730224

cad

CY2022

ifrs-full

Disposals Intangible Assets And Goodwill

DisposalsIntangibleAssetsAndGoodwill

6347360

cad

CY2022Q2

ifrs-full

Intangible Exploration And Evaluation Assets

IntangibleExplorationAndEvaluationAssets

12077584

cad

CY2022

ifrs-full

Disclosure Of Trade And Other Payables Explanatory

DisclosureOfTradeAndOtherPayablesExplanatory

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">8.</td><td style="text-align: justify">Loan Payable</td></tr></table> On November 29, 2021, the Company entered into a loan agreement for USD $692,970 (CAD $873,253) (the “Loan”). The Loan bears an interest rate of 4.7% and is payable in monthly instalments of USD $78,512. Interest related to the Loan totaled $16,226 and was included in interest on loan and debentures. The Loan matured on August 18, 2022.

CY2021Q4

litm

Loan Agreement

LoanAgreement

692970

usd

CY2021Q4

litm

Loan Agreement

LoanAgreement

873253

cad

CY2021Q4

ifrs-full

Borrowings Interest Rate Basis

BorrowingsInterestRateBasis

4.7%

CY2021Q4

litm

Monthly Instalments Payable

MonthlyInstalmentsPayable

78512

usd

CY2021Q4

ifrs-full

Gross Loan Commitments

GrossLoanCommitments

16226

usd

CY2022

ifrs-full

Disclosure Of Redesignated Financial Assets And Liabilities Explanatory

DisclosureOfRedesignatedFinancialAssetsAndLiabilitiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">9.</td><td style="text-align: justify">Convertible Debentures</td></tr></table> In February 2021, the Company issued convertible debts (the “Debentures”) for a total of $865,263 (the “Subscribed Amount”). The Debentures were sold at a discount of approximately 5% for proceeds of $805,000, net of a $15,000 cash commission. Under the terms of the Agreement, the Subscribed Amount plus interest accrued, at a rate which should be the higher of (i) 12% per annum or (ii) Wall Street Prime Rate + 7%, is convertible, at the option of the Debenture holder, into common shares of the Company at a price that is the lesser of (i) $1.25 per share or (ii) a 20% discount to the price of a Liquidity Transaction (defined below). The conversion feature expires (the “Expiry Date”) on the earlier of 24 months from execution, or the closing of a registered public offering (the “Liquidity Transaction”). In the event of a default, interest accrues at the lesser of (i) 24% per annum or (ii) the maximum legally authorized rate. The Company has the right to repay the note prior to maturity at 110% of the then outstanding principal and interest. The Company must provide 30 days’ notice and the Lender shall have the right to convert prior to the 30-day notice expiration. The Company determined the fair value of the conversion feature component upon initial recognition was $442,589. The residual $362,411 value of the $805,000 net proceeds received was allocated on a pro-rata basis between the debt component ($271,642) and the warrants component ($90,769) based on their relative fair values. The debt component was discounted at a rate of 20% and 346,104 subscriber warrants were valued using Black-Scholes, based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. During the year ended June 30, 2022, the Company recognized accretion expense of $91,895 (2021 – $101,565) relating to accreting the debt component of the Debentures up to their principal value, and interest of $34,990 (2021 – $38,699). The Company incurred $24,507 in transaction costs pursuant to the issuance of the Debentures, including paying a $15,000 cash commission, issuing 15,000 finders’ warrants (each a “Finder’s Warrants”) exercisable at $1.50 for the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange and $27 in bank charges. These costs, along with the $45,263 discount, are being amortized over the term of the Debentures. The 15,000 Finders’ Warrants were valued using Black-Scholes, based on the following assumption: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest rate of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. During the year ended June 30, 2022, the Company amortized $56,512 (2021 – $13,284) of transaction costs and discount in the consolidated statements of loss and comprehensive loss, including $2,025 recorded to warrants reserve for the value of the Finders’ Warrants allocated to the warrants component in 2021. On November 23, 2021, all debt holders exercised their conversion rights at a price of $1.25 per common share. As a result of the conversion, 751,163 common shares were issued. The following table reflects the continuity of the Debentures for the years ended June 30, 2022 and 2021: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">$</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">-</div></td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 90%">Principal value of convertible debentures</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">865,263</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount on proceeds received</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(45,263</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Cash commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Allocation to conversion feature</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(442,589</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Allocation to warrant</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(90,769</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Value at initial recognition</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271,642</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accretion expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101,565</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,699</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Amortization of transaction costs</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">423,139</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Accretion expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91,895</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,990</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Amortization of transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,617</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Conversion of Debentures</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(600,641</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="padding-bottom: 4pt; font-weight: bold"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-106">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>

CY2021Q1

litm

Convertible Debt Issued

ConvertibleDebtIssued

865263

cad

CY2022Q2

ifrs-full

Actuarial Assumption Of Discount Rates

ActuarialAssumptionOfDiscountRates

0.05

pure

CY2022

litm

Proceeds Value

ProceedsValue

805000

cad

CY2022

litm

Cash Commission Amount

CashCommissionAmount

15000

cad

CY2022

litm

Interest Accrued Description

InterestAccruedDescription

(i) 12% per annum or (ii) Wall Street Prime Rate + 7%, is convertible, at the option of the Debenture holder, into common shares of the Company at a price that is the lesser of (i) $1.25 per share or (ii) a 20% discount to the price of a Liquidity Transaction (defined below). The conversion feature expires (the “Expiry Date”) on the earlier of 24 months from execution, or the closing of a registered public offering (the “Liquidity Transaction”).

CY2022

litm

Interest Accrues Lesser Description

InterestAccruesLesserDescription

In the event of a default, interest accrues at the lesser of (i) 24% per annum or (ii) the maximum legally authorized rate. The Company has the right to repay the note prior to maturity at 110% of the then outstanding principal and interest. The Company must provide 30 days’ notice and the Lender shall have the right to convert prior to the 30-day notice expiration.

CY2022

litm

Fair Value Conversion Feature Description

FairValueConversionFeatureDescription

The Company determined the fair value of the conversion feature component upon initial recognition was $442,589. The residual $362,411 value of the $805,000 net proceeds received was allocated on a pro-rata basis between the debt component ($271,642) and the warrants component ($90,769) based on their relative fair values. The debt component was discounted at a rate of 20% and 346,104 subscriber warrants were valued using Black-Scholes, based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. During the year ended June 30, 2022, the Company recognized accretion expense of $91,895 (2021 – $101,565) relating to accreting the debt component of the Debentures up to their principal value, and interest of $34,990 (2021 – $38,699).

CY2022

ifrs-full

Description Of Redesignated Financial Liabilities

DescriptionOfRedesignatedFinancialLiabilities

The Company incurred $24,507 in transaction costs pursuant to the issuance of the Debentures, including paying a $15,000 cash commission, issuing 15,000 finders’ warrants (each a “Finder’s Warrants”) exercisable at $1.50 for the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange and $27 in bank charges. These costs, along with the $45,263 discount, are being amortized over the term of the Debentures. The 15,000 Finders’ Warrants were valued using Black-Scholes, based on the following assumption: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest rate of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50.

CY2022

litm

Amortized Cost

AmortizedCost

56512

cad

CY2021

litm

Transaction Costs

TransactionCosts

13284

cad

CY2022

litm

Warrants Reserve Value

WarrantsReserveValue

2025

cad

CY2021Q4

ifrs-full

Par Value Per Share

ParValuePerShare

1.25

CY2021Q4

litm

Issuance Of Conversion Of Debentures Shares

IssuanceOfConversionOfDebenturesShares

751163

shares

CY2020Q2

litm

Numbers Of Share Issued

NumbersOfShareIssued

13008006

shares

CY2020Q2

litm

Amount Beginning Balances

AmountBeginningBalances

5745369

cad

CY2021

litm

Number Of Common Shares Shares Issued From Exercise Of Warrantsin Dollars

NumberOfCommonSharesSharesIssuedFromExerciseOfWarrantsinDollars

2170

shares

CY2021

litm

Amount Shares Issued From Exercise Of Warrants

AmountSharesIssuedFromExerciseOfWarrants

4883

cad

CY2021Q2

litm

Numbers Of Share Issued

NumbersOfShareIssued

13010176

shares

CY2021Q2

litm

Amount Beginning Balances

AmountBeginningBalances

5750252

cad

CY2022

litm

Shares Issued On Initial Public Offering

SharesIssuedOnInitialPublicOffering

3680000

shares

CY2022

litm

Amount Shares Issued On Initial Public Offering

AmountSharesIssuedOnInitialPublicOffering

34988520

cad

CY2022

ifrs-full

Maturity Analysis For Derivative Financial Liabilities

MaturityAnalysisForDerivativeFinancialLiabilities

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">10.</td><td style="text-align: justify">Derivative Liability</td></tr></table> Conversion feature of Debentures Upon issuance of the Debentures in February 2021, the Company allocated the conversion feature component valued at $442,589 as a derivative liability. During the year ended June 30, 2021, a gain on change in fair value on the conversion feature of $32,676 was recorded on the consolidated statements of loss and comprehensive loss. 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. IPO Finders’ Warrants In connection with the IPO which closed on November 23, 2021, the Company issued 184,000 Finders’ Warrants exercisable at USD $9.375 before November 23, 2026. The fair value of these Finders’ Warrants was estimated at $1,237,681 using 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. As at June 30, 2022, the derivative liability related to the Finders’ Warrants was measured at a fair value of $286,997 using Black-Scholes with the following assumptions: share price of USD $2.40, exercise price of USD $9.375, expected volatility of 100% based on comparable companies, expected dividend yield of 0%, risk-free interest rate of 3.10% and an estimated remaining life of 4.40 years. During the year ended June 30, 2022, the Company recorded a fair value decrease of $950,684 on the derivative liability related to the Finders’ Warrants. The changes to the derivative liabilities for the years ended June 30, 2022 and 2021 are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">$</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-107">-</div></td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 88%; text-align: left">Fair value of derivative liability on date of issuance</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">442,589</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Fair value changes of derivative liability – conversion feature</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(32,676</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">409,913</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value changes of derivative liability – conversion feature</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(153,155</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Fair value allocated on conversion of Debentures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(256,758</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value of derivative liability – Finders’ Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,237,681</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Fair value changes of derivative liability – Finders’ Warrants</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(950,684</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">286,997</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>

CY2021Q1

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Derivative Financial Liabilities

DerivativeFinancialLiabilities

442589

cad

CY2021

ifrs-full

Gains On Change In Fair Value Of Derivatives

GainsOnChangeInFairValueOfDerivatives

32676

cad

CY2022

ifrs-full

Gains On Change In Fair Value Of Derivatives

GainsOnChangeInFairValueOfDerivatives

153155

cad

CY2022Q2

litm

Allocated To Share Capital

AllocatedToShareCapital

256758

cad

CY2021Q4

ifrs-full

Description Of Financial Instruments Designated As Hedging Instrument

DescriptionOfFinancialInstrumentsDesignatedAsHedgingInstrument

the Company issued 184,000 Finders’ Warrants exercisable at USD $9.375 before November 23, 2026. The fair value of these Finders’ Warrants was estimated at $1,237,681 using 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.

CY2022Q2

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Derivative Financial Liabilities Undiscounted Cash Flows

DerivativeFinancialLiabilitiesUndiscountedCashFlows

286997

cad

CY2022

litm

Share Priceof Amount

SharePriceofAmount

2.4

usd

CY2022

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Proceeds From Exercise Of Warrants

ProceedsFromExerciseOfWarrants

9.375

usd

CY2022

litm

Percentageofderrivative

1

pure

CY2022

litm

Dividendof Percentange Rate

DividendofPercentangeRate

0

pure

CY2022

litm

Interest Rateof Percentange

InterestRateofPercentange

0.031

pure

CY2022

litm

Estimated Remaining Life Year

EstimatedRemainingLifeYear

4.40 years

CY2022Q2

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Current Derivative Financial Assets

CurrentDerivativeFinancialAssets

950684

cad

CY2021

litm

Fair Value Of Derivative Liability On Date Of Issuance

FairValueOfDerivativeLiabilityOnDateOfIssuance

442589

cad

CY2021

ifrs-full

Losses On Change In Fair Value Of Derivatives

LossesOnChangeInFairValueOfDerivatives

32676

cad

CY2021Q2

ifrs-full

Intangible Assets Other Than Goodwill

IntangibleAssetsOtherThanGoodwill

409913

cad

CY2022

ifrs-full

Losses On Change In Fair Value Of Derivatives

LossesOnChangeInFairValueOfDerivatives

153155

cad

CY2022

litm

Fair Value Allocated On Conversion Of Debenture

FairValueAllocatedOnConversionOfDebenture

256758

cad

CY2022

litm

Fair Value Of Derivative Liability Finders Warrants

FairValueOfDerivativeLiabilityFindersWarrants

1237681

cad

CY2022

ifrs-full

Increase Decrease In Credit Derivative Fair Value

IncreaseDecreaseInCreditDerivativeFairValue

-950684

cad

CY2022Q2

ifrs-full

Intangible Assets Other Than Goodwill

IntangibleAssetsOtherThanGoodwill

286997

cad

CY2022

ifrs-full

Disclosure Of Share Capital Reserves And Other Equity Interest Explanatory

DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">11.</td><td>Share Capital</td></tr></table> Authorized share capital The Company is authorized to issue an unlimited number of common shares without par value. Common shares issued and outstanding as at June 30, 2022, 2021 and 2020 are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of common shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Amount</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold">Balance, June 30, 2019</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">13,007,956</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">5,745,215</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Shares issued from exercise of warrants (a)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,008,006</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,745,369</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Shares issued from exercise of warrants (b)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,170</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,883</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,010,176</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,750,252</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Shares issued on initial public offering (c)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,680,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,988,520</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares issue costs (b)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,233,129</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Shares issued on conversion of debentures (d)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">751,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">857,399</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares issued on vesting of restricted share units (e)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,950,645</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Shares issued from exercise of warrants (f)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">243,419</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">419,946</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,924,758</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,733,633</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> Share capital transactions for the year ended June 30, 2020 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td style="text-align: justify">During the year ended June 30, 2020, 50 common shares were issued as a result of the exercise of Warrants for cash proceeds of $113.</td></tr></table> Share capital transactions for the year ended June 30, 2021 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td style="text-align: justify">During the year ended June 30, 2021, 2,170 common shares were issued as a result of the exercise of Warrants for cash proceeds of $4,883.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(c)</td><td style="text-align: justify">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 23, 2026 (see Notes 10 and 14). 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td style="text-align: justify">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 liability to share capital.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">On January 9, 2022, the Company issued 240,000 common shares as a result of the vesting of restricted share units (“RSUs”). These common shares were valued at an amount of $1,950,645. See Note 12 for more details.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(f)</td><td style="text-align: justify">During the year ended June 30, 2022, 243,419 common shares were also issued as a result of the exercise of Warrants for cash proceeds of $365,114.</td></tr></table> Flow-Through Shares Flow-through share arrangements involve resource expenditure deductions for income tax purposes which are renounced to purchasers of common shares in accordance with income tax legislation. Each flow-through share entitles the holder to a 100% tax deduction in respect of qualifying Canadian Exploration Expenses (“CEE”) as defined. The value of the flow-through share liability was determined using the residual value method, after determining the fair value of the common shares and common shares purchase warrants attached to the Flow-Through Share Unit Financing. The Flow-Through Share Unit Financing premium established the flow-through share liability value at $71,249 as at June 30, 2019. During the year ended June 30, 2020, the Company satisfied all of its flow-through obligations and recognized a recovery on the statement of loss and comprehensive loss for the full amount of the flow-through share liability.

CY2022

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Disclosure Of Number And Weighted Average Exercise Prices Of Share Options Explanatory

DisclosureOfNumberAndWeightedAverageExercisePricesOfShareOptionsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Number of common shares</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Amount</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; font-weight: bold">Balance, June 30, 2019</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">13,007,956</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">5,745,215</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Shares issued from exercise of warrants (a)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">50</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">154</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2020</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,008,006</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,745,369</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Shares issued from exercise of warrants (b)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,170</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,883</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Balance, June 30, 2021</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">13,010,176</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">5,750,252</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Shares issued on initial public offering (c)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,680,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">34,988,520</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares issue costs (b)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,233,129</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Shares issued on conversion of debentures (d)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">751,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">857,399</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares issued on vesting of restricted share units (e)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">240,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,950,645</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">Shares issued from exercise of warrants (f)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">243,419</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">419,946</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt">Balance, June 30, 2022</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">17,924,758</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">39,733,633</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(a)</td><td style="text-align: justify">During the year ended June 30, 2020, 50 common shares were issued as a result of the exercise of Warrants for cash proceeds of $113.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(b)</td><td style="text-align: justify">During the year ended June 30, 2021, 2,170 common shares were issued as a result of the exercise of Warrants for cash proceeds of $4,883.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(c)</td><td style="text-align: justify">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 23, 2026 (see Notes 10 and 14). 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(d)</td><td style="text-align: justify">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 liability to share capital.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(e)</td><td style="text-align: justify">On January 9, 2022, the Company issued 240,000 common shares as a result of the vesting of restricted share units (“RSUs”). These common shares were valued at an amount of $1,950,645. See Note 12 for more details.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">(f)</td><td style="text-align: justify">During the year ended June 30, 2022, 243,419 common shares were also issued as a result of the exercise of Warrants for cash proceeds of $365,114.</td></tr></table>

CY2019Q2

litm

Numbers Of Share Issued

NumbersOfShareIssued

13007956

shares

CY2019Q2

litm

Amount Beginning Balances

AmountBeginningBalances

5745215

cad

CY2020

litm

Number Of Common Shares Shares Issued From Exercise Of Warrantsin Dollars

NumberOfCommonSharesSharesIssuedFromExerciseOfWarrantsinDollars

50

shares

CY2020

litm

Amount Shares Issued From Exercise Of Warrants

AmountSharesIssuedFromExerciseOfWarrants

154

cad

CY2022

litm

Shares Issued On Conversion Of Debentures

SharesIssuedOnConversionOfDebentures

751163

shares

CY2022

litm

Amount Shares Issued On Conversion Of Debentures

AmountSharesIssuedOnConversionOfDebentures

857399

cad

CY2022

litm

Shares Issued On Vesting Of Restricted Share Units

SharesIssuedOnVestingOfRestrictedShareUnits

240000

shares

CY2022

litm

Amount Shares Issued On Vesting Of Restricted Share Units

AmountSharesIssuedOnVestingOfRestrictedShareUnits

1950645

cad

CY2022

litm

Number Of Common Shares Shares Issued From Exercise Of Warrantsin Dollars

NumberOfCommonSharesSharesIssuedFromExerciseOfWarrantsinDollars

243419

shares

CY2022

litm

Amount Shares Issued From Exercise Of Warrants

AmountSharesIssuedFromExerciseOfWarrants

419946

cad

CY2022Q2

litm

Numbers Of Share Issued

NumbersOfShareIssued

17924758

shares

CY2022Q2

litm

Amount Beginning Balances

AmountBeginningBalances

39733633

cad

CY2020Q2

ifrs-full

Number Of Shares Issued

NumberOfSharesIssued

50

shares

CY2020

litm

Proceeds From Exercise Of Warrant

ProceedsFromExerciseOfWarrant

113

cad

CY2021Q2

ifrs-full

Number Of Shares Issued

NumberOfSharesIssued

2170

shares

CY2021

litm

Proceeds From Exercise Of Warrant

ProceedsFromExerciseOfWarrant

4883

cad

CY2021Q4

ifrs-full

Weighted Average Share Price2019

WeightedAverageSharePrice2019

9.51

CY2021Q4

ifrs-full

Weighted Average Share Price2019

WeightedAverageSharePrice2019

7.5

CY2021Q4

litm

Proceeds From Exercise Of Option

ProceedsFromExerciseOfOption

34988520

cad

CY2021Q4

ifrs-full

Proceeds From Exercise Of Options

ProceedsFromExerciseOfOptions

27600000

usd

CY2021Q4

litm

Warrants Exercisable

WarrantsExercisable

184000

shares

CY2021Q4

ifrs-full

Share Issue Related Cost

ShareIssueRelatedCost

2995448

cad

CY2021Q4

ifrs-full

Fee And Commission Income

FeeAndCommissionIncome

2624139

cad

CY2021Q4

litm

Underwriting Fees

UnderwritingFees

304248

cad

CY2021Q4

ifrs-full

Other Expense By Nature

OtherExpenseByNature

67061

cad

CY2021Q4

ifrs-full

Number Of Shares Issued

NumberOfSharesIssued

751163

shares

CY2021Q4

litm

Debt Price Per Share

DebtPricePerShare

1.25

CY2021Q4

litm

Derivative Liabilitie

DerivativeLiabilitie

863294

cad

CY2022Q1

ifrs-full

Number Of Shares Issued

NumberOfSharesIssued

240000

shares

CY2022Q1

litm

Common Stock Values

CommonStockValues

1950645

cad

CY2022Q2

ifrs-full

Number Of Shares Issued

NumberOfSharesIssued

243419

shares

CY2022

litm

Proceeds From Exercise Of Warrant

ProceedsFromExerciseOfWarrant

365114

cad

CY2022

ifrs-full

Percentage Of Entitys Revenue

PercentageOfEntitysRevenue

1

pure

CY2019Q2

litm

Flowthrough Share Liability Value

flowthroughShareLiabilityValue

71249

cad

CY2022

litm

Disclosure Of Reserve For Rs Us

DisclosureOfReserveForRSUs

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">12.</td><td>Reserve for RSUs</td></tr></table> On January 9, 2022, the Company granted 240,000 RSUs to an officer, which vested immediately. Stock-based compensation of $1,950,645 in connection with the vesting of these RSUs was recorded during the year ended June 30, 2022.

CY2022Q1

ifrs-full

Statutory Reserve

StatutoryReserve

240000

usd

CY2022Q1

ifrs-full

Reserve Of Sharebased Payments

ReserveOfSharebasedPayments

1950645

usd

CY2022Q2

ifrs-full

Treasury Shares

TreasuryShares

2406732

cad

CY2022

ifrs-full

Purchase Of Treasury Shares

PurchaseOfTreasuryShares

786243

cad

CY2022

ifrs-full

Cancellation Of Treasury Shares

CancellationOfTreasuryShares

160000

cad

CY2021Q4

litm

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

litm

Expected Life

ExpectedLife

P5Y

CY2022

litm

Fair Value Attributable

FairValueAttributable

7167552

cad

CY2022

litm

Stockbased Compensations

StockbasedCompensations

6084861

cad

CY2022

litm

Options Shares Cancelled

OptionsSharesCancelled

168897

shares

CY2022

litm

Number Of Options Outstanding

NumberOfOptionsOutstanding

1620489

shares

CY2022

litm

Number Of Options Exercisable

NumberOfOptionsExercisable

1070245

shares

CY2022

litm

Exercise Price

ExercisePrice

7.23

CY2022

litm

Weighted Averages Remaining Contractual Life

WeightedAveragesRemainingContractualLife

P3Y3M7D

CY2022

litm

Disclosure Of Reserve For Warrants

DisclosureOfReserveForWarrants

<table cellpadding="0" cellspacing="0" style="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">14.</td><td>Reserve for Warrants</td></tr></table> The following summarizes the warrant activity for the years ended June 30, 2022, 2021 and 2020: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted average exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average exercise price</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font-weight: bold; text-align: left">Outstanding, beginning of year</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">880,525</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1.55</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,929</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.59</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,979</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.65</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Issued from debentures financing</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">-</div></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">361,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Issued of Finders’ Warrants from IPO</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">184,000</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">USD 9.375</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Exercised</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(243,419</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1.50</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,170</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Expired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(30,332</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2.25</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Outstanding, end of year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">880,525</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.55</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">551,929</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.59</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Warrant issuances for the year ended June 30, 2020 There were no warrant issuances for the year ended June 30, 2020. Warrant issuances for the year ended June 30, 2021 As part of the Debentures issuance in February 2021, the Company issued 346,108 Warrants to subscribers of the Debentures. Debenture holders were eligible to receive such number of Warrants equal to half of the number of common shares issuable upon conversion of the Debentures at the conversion price of $1.25. Each Warrant is exercisable into one common share at an exercise price of $1.50 per Warrant until the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange. These Warrants were valued at $90,769, recorded to the warrants reserve after allocating, on a pro-rata basis, the $362,411 residual value of the Debentures between the debt and warrants components after the initial allocation of $442,589 of the $805,000 net proceeds received to the conversion feature. The Debenture Warrants were valued using Black-Scholes based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest rate of 0.18% - 0.22%, market price of $1.50, and an exercise price of $1.50. $2,025 of Debenture transaction costs was recorded to warrants reserve in amortizing the value of transaction costs allocated to the warrants component of the Debentures. 15,000 Debenture Finders’ Warrants exercisable on the same terms as the Debenture Warrants were also issued, and they were valued at $9,480 using Black-Scholes based on the following assumptions: expected life of 2.5 years, expected volatility of 70%, expected dividend yield of nil, risk-free interest rate of 0.18%, market price of $1.50, and an exercise price of $1.50. The value of these warrants allocated to loan liability transaction costs is being amortized in the statement of loss and comprehensive loss in accreting up the carrying value of the Debenture loan liability to its principal balance and the value allocated to Debenture warrants transaction costs is being amortized to the warrants reserve over the term of the Debentures. Warrant issuances for the year ended June 30, 2022 As part of the IPO which closed on November 23, 2021, the Company issued 184,000 Finders’ Warrants exercisable at USD $9.375 before November 23, 2026. As these Finders’ Warrants are denominated in USD, they are considered derivative liabilities hence classified as such (see Note 10 for details). The following table summarizes information of warrants outstanding as at June 30, 2022: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: right"> Date of expiry</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants outstanding</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average remaining contractual life</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">Years</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">November 23, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.25</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">533,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,427</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">November 23, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">184,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">USD 9.375</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1.40</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2.07</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>

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Schedule Of Summarizes The Warrant Activity

ScheduleOfSummarizesTheWarrantActivity

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted average exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Weighted Average exercise price</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">#</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font-weight: bold; text-align: left">Outstanding, beginning of year</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">880,525</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1.55</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,929</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.59</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">551,979</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.65</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Issued from debentures financing</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">-</div></td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">-</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">361,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-123">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-124">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Issued of Finders’ Warrants from IPO</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">184,000</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">USD 9.375</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-125">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-126">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-127">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-128">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Exercised</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(243,419</td><td style="font-weight: bold; text-align: left">)</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">1.50</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,170</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(50</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1.5pt">Expired</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-129">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(30,332</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2.25</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-130">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-131">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Outstanding, end of year</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">880,525</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.55</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">551,929</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1.59</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

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Number Of Warrants Outstanding Beginning Of Year

NumberOfWarrantsOutstandingBeginningOfYear

880525

shares

CY2021Q4

ifrs-full

Weighted Average Exercise Price Of Share Options Outstanding In Sharebased Payment Arrangement2019

WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019

1.55

CY2021

litm

Number Of Warrants Outstanding Beginning Of Year

NumberOfWarrantsOutstandingBeginningOfYear

551929

shares

CY2020Q4

ifrs-full

Weighted Average Exercise Price Of Share Options Outstanding In Sharebased Payment Arrangement2019

WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019

1.59

CY2020

litm

Number Of Warrants Outstanding Beginning Of Year

NumberOfWarrantsOutstandingBeginningOfYear

551979

shares

CY2019Q4

ifrs-full

Weighted Average Exercise Price Of Share Options Outstanding In Sharebased Payment Arrangement2019

WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement2019

1.65

CY2020Q2

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Prepaid Insurances

PrepaidInsurances

cad

CY2021

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Number Of Warrant Issued From Debentures Financing

NumberOfWarrantIssuedFromDebenturesFinancing

361098

shares

CY2021

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Weighted Average Exercise Price Issued From Debentures Financing

WeightedAverageExercisePriceIssuedFromDebenturesFinancing

1.5

CY2022

litm

Number Of Warrant Issued Of Finders Warrants From Ipo

NumberOfWarrantIssuedOfFindersWarrantsFromIPO

184000

shares

CY2022

litm

Weighted Average Exercise Price Issued Of Finders Warrants From Ipo

WeightedAverageExercisePriceIssuedOfFindersWarrantsFromIPO

9.375

CY2022

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Number Of Warrants Exercised

NumberOfWarrantsExercised

-243419

shares

CY2022

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Weighted Average Exercise Price Exercised

WeightedAverageExercisePriceExercised

1.5

CY2021

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Number Of Warrants Exercised

NumberOfWarrantsExercised

-2170

shares

CY2021

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Weighted Average Exercise Price Exercised

WeightedAverageExercisePriceExercised

2.25

CY2020

litm

Number Of Warrants Exercised

NumberOfWarrantsExercised

-50

shares

CY2020

litm

Weighted Average Exercise Price Exercised

WeightedAverageExercisePriceExercised

2.25

CY2021

litm

Number Of Warrants Expired

NumberOfWarrantsExpired

-30332

shares

CY2021

litm

Weighted Average Exercise Price Expired

WeightedAverageExercisePriceExpired

2.25

CY2022

litm

Number Of Warrants Outstanding End Of Year

NumberOfWarrantsOutstandingEndOfYear

821106

cad

CY2022Q4

litm

Weighted Average Exercise Price Outstanding End Of Year

WeightedAverageExercisePriceOutstandingEndOfYear

3.93

CY2021

litm

Number Of Warrants Outstanding End Of Year

NumberOfWarrantsOutstandingEndOfYear

880525

cad

CY2021Q4

litm

Weighted Average Exercise Price Outstanding End Of Year

WeightedAverageExercisePriceOutstandingEndOfYear

1.55

CY2020

litm

Number Of Warrants Outstanding End Of Year

NumberOfWarrantsOutstandingEndOfYear

551929

cad

CY2020Q4

litm

Weighted Average Exercise Price Outstanding End Of Year

WeightedAverageExercisePriceOutstandingEndOfYear

1.59

CY2021Q1

litm

Description Of Warrant Issuances

DescriptionOfWarrantIssuances

the Company issued 346,108 Warrants to subscribers of the Debentures. Debenture holders were eligible to receive such number of Warrants equal to half of the number of common shares issuable upon conversion of the Debentures at the conversion price of $1.25. Each Warrant is exercisable into one common share at an exercise price of $1.50 per Warrant until the earlier of (i) 60 months from the grant date or (ii) 24 months from the Company completing a listing on a Canadian stock exchange. These Warrants were valued at $90,769, recorded to the warrants reserve after allocating, on a pro-rata basis, the $362,411 residual value of the Debentures between the debt and warrants components after the initial allocation of $442,589 of the $805,000 net proceeds received to the conversion feature.

CY2022

litm

Expected Life Of Warrants

ExpectedLifeOfWarrants

P2Y6M

CY2022

ifrs-full

Description Of Expected Volatility Share Options Granted

DescriptionOfExpectedVolatilityShareOptionsGranted

0.70

pure

CY2022

litm

Market Price

MarketPrice

1.5

cad

CY2022

litm

Excercise Price

ExcercisePrice

1.5

cad

CY2022

litm

Debenture Transaction Costs

DebentureTransactionCosts

2025

cad

CY2022

litm

Debenture Finders

DebentureFinders

15000

cad

CY2022

litm

Black Scholes Based On The Assumptions

BlackScholesBasedOnTheAssumptions

9480

cad

CY2022

ifrs-full

Disclosure Of Range Of Exercise Prices Of Outstanding Share Options Explanatory

DisclosureOfRangeOfExercisePricesOfOutstandingShareOptionsExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; text-align: right"> Date of expiry</td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">Number of warrants outstanding</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Exercise price</td><td style="padding-bottom: 1.5pt"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Weighted average remaining contractual life</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">Years</td><td style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">November 23, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">32,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.25</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">533,679</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>November 23, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">71,427</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.25</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 1.5pt">November 23, 2023</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">184,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">USD 9.375</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1.40</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">821,106</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">3.93</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">2.07</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>

CY2022

litm

Number Of Warrant Outstanding

NumberOfWarrantOutstanding

821106

shares

CY2022

litm

Exercises Price

ExercisesPrice

3.93

CY2022

litm

Weighted Average Remaining Contractual Life1

WeightedAverageRemainingContractualLife1

P2Y25D

CY2022

ifrs-full

Disclosure Of Earnings Per Share Explanatory

DisclosureOfEarningsPerShareExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">15.</td><td>Basic and Diluted Loss per Share</td></tr></table> The calculations of basic and diluted loss per share for the year ended June 30, 2022 were based on the net loss of $9,446,454 (2021 – net loss of $552,436; 2020 – net loss of $182,116) and the weighted average number of basic and diluted common shares outstanding of 15,884,041 (2021 – 13,008,669; 2020 – 13,007,995). The details of the computation of basic and diluted loss per share are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net Loss</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">(9,446,454</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(552,436</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">182,116</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">#</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">#</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Basic weighted-average number of shares outstanding</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">15,884,041</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,008,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,007,995</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Assumed conversion of dilutive stock options and warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Diluted weighted-average number of shares outstanding</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">15,884,041</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,008,669</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,007,995</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt"><div style="-sec-ix-hidden: hidden-fact-139; -sec-ix-hidden: hidden-fact-138; -sec-ix-hidden: hidden-fact-137">Basic and diluted loss per share</div></td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(0.60</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.04</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.01</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table>

CY2022

ifrs-full

Profit Loss Attributable To Owners Of Parent

ProfitLossAttributableToOwnersOfParent

9446454

cad

CY2021

ifrs-full

Profit Loss Attributable To Owners Of Parent

ProfitLossAttributableToOwnersOfParent

552436

cad

CY2020

ifrs-full

Profit Loss Attributable To Owners Of Parent

ProfitLossAttributableToOwnersOfParent

182116

cad

CY2022

ifrs-full

Weighted Average Shares

WeightedAverageShares

15884041

shares

CY2022

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

15884041

shares

CY2021

ifrs-full

Weighted Average Shares

WeightedAverageShares

13008669

shares

CY2021

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

13008669

shares

CY2020

ifrs-full

Weighted Average Shares

WeightedAverageShares

13007995

shares

CY2020

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

13007995

shares

CY2022

ifrs-full

Earnings Per Share Explanatory

EarningsPerShareExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; "> <td style="width: 64%; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Net Loss</td><td style="width: 1%; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; font-weight: bold; text-align: right">(9,446,454</td><td style="width: 1%; padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">(552,436</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">182,116</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">#</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">#</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">#</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Basic weighted-average number of shares outstanding</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">15,884,041</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,008,669</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,007,995</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Assumed conversion of dilutive stock options and warrants</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Diluted weighted-average number of shares outstanding</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">15,884,041</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,008,669</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">13,007,995</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold; text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td><td style="text-align: center"> </td> <td style="text-align: center"> </td><td style="text-align: center">$</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt"><div style="-sec-ix-hidden: hidden-fact-139; -sec-ix-hidden: hidden-fact-138; -sec-ix-hidden: hidden-fact-137">Basic and diluted loss per share</div></td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(0.60</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.04</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(0.01</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr> </table>

CY2022

ifrs-full

Other Adjustments To Reconcile Profit Loss

OtherAdjustmentsToReconcileProfitLoss

-9446454

cad

CY2021

ifrs-full

Other Adjustments To Reconcile Profit Loss

OtherAdjustmentsToReconcileProfitLoss

-552436

cad

CY2020

ifrs-full

Other Adjustments To Reconcile Profit Loss

OtherAdjustmentsToReconcileProfitLoss

182116

cad

CY2022

ifrs-full

Weighted Average Shares

WeightedAverageShares

15884041

shares

CY2021

ifrs-full

Weighted Average Shares

WeightedAverageShares

13008669

shares

CY2020

ifrs-full

Weighted Average Shares

WeightedAverageShares

13007995

shares

CY2022

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

15884041

shares

CY2021

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

13008669

shares

CY2020

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

13007995

shares

CY2022

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.6

CY2021

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.04

CY2020

ifrs-full

Basic Earnings Loss Per Share

BasicEarningsLossPerShare

-0.01

CY2022

ifrs-full

Disclosure Of Related Party Explanatory

DisclosureOfRelatedPartyExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">16.</td><td>Related Party Transactions</td></tr></table> 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. The remuneration of directors and other members of key management personnel during the years ended June 30, 2022, 2021 and 2020 were as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Directors’ and officers’ consulting fees</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">687,585</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">200,858</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">100,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Exploration and evaluation expenditures</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">220,765</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">48,000</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">57,243</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">908,350</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">248,858</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">157,743</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Directors’ and officers’ consulting fees During the year ended June 30, 2022, $585,615 of fees included in directors’ and officers’ consulting fees had been paid to companies controlled by the Chief Executive Officer, the Chief Operating Officer, and the former and new Chief Financial Officers of Snow Lake. Exploration and evaluation expenditures During the year ended June 30, 2022, fees of $220,765 (2021 – $48,000) for services rendered by the Company’s VP of Resources Development, and the VP of Exploration, had been capitalized as E&E assets on the consolidated statements of financial position. Share-based compensation During the year ended June 30, 2022, the Company had granted certain RSUs and options to various directors and officers. Total stock-based compensation of $8,035,506 (2021 – nil) was recorded in connection with the vesting of these securities. Related party balances All related party balances payable, for services and business expense reimbursements rendered as at June 30, 2022, 2021 and 2020, are non-interest bearing and payable on demand, and are comprised of the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Payable to officers and directors</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">110,274</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">236,402</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">205,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">(Receivable) payable to Nova Minerals Ltd.</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(10,287</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,300</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">99,987</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">279,642</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">217,948</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

CY2022

litm

Directors Officers Consulting Fee

DirectorsOfficersConsultingFee

687585

cad

CY2021

litm

Directors Officers Consulting Fee

DirectorsOfficersConsultingFee

200858

cad

CY2020

litm

Directors Officers Consulting Fee

DirectorsOfficersConsultingFee

100500

cad

CY2022

litm

Litm Exploration And Evaluation Expenditure

litm_ExplorationAndEvaluationExpenditure

220765

cad

CY2021

litm

Litm Exploration And Evaluation Expenditure

litm_ExplorationAndEvaluationExpenditure

48000

cad

CY2020

litm

Litm Exploration And Evaluation Expenditure

litm_ExplorationAndEvaluationExpenditure

57243

cad

CY2022

litm

Related Party Cost

RelatedPartyCost

908350

cad

CY2021

litm

Related Party Cost

RelatedPartyCost

248858

cad

CY2020

litm

Related Party Cost

RelatedPartyCost

157743

cad

CY2022

ifrs-full

Revenue From Rendering Of Information Technology Consulting Services

RevenueFromRenderingOfInformationTechnologyConsultingServices

585615

cad

CY2022Q2

ifrs-full

Tangible Exploration And Evaluation Assets

TangibleExplorationAndEvaluationAssets

220765

cad

CY2021Q2

ifrs-full

Tangible Exploration And Evaluation Assets

TangibleExplorationAndEvaluationAssets

48000

cad

CY2022

litm

Stock Based Compensations

StockBasedCompensations

8035506

cad

CY2022

ifrs-full

Disclosure Of Transactions Between Related Parties Explanatory

DisclosureOfTransactionsBetweenRelatedPartiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Payable to officers and directors</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">110,274</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">236,402</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">205,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">(Receivable) payable to Nova Minerals Ltd.</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(10,287</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">43,240</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">12,300</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">99,987</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">279,642</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">217,948</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table>

CY2022

litm

Payable To Nova Minerals

PayableToNovaMinerals

110274

cad

CY2021

litm

Payable To Nova Minerals

PayableToNovaMinerals

236402

cad

CY2020

litm

Payable To Nova Minerals

PayableToNovaMinerals

205648

cad

CY2022

litm

Receivable Payable To Nova Minerals Ltd

ReceivablePayableToNovaMineralsLtd

-10287

cad

CY2021

litm

Receivable Payable To Nova Minerals Ltd

ReceivablePayableToNovaMineralsLtd

43240

cad

CY2020

litm

Receivable Payable To Nova Minerals Ltd

ReceivablePayableToNovaMineralsLtd

12300

cad

CY2022Q2

ifrs-full

Amounts Payable Related Party Transactions

AmountsPayableRelatedPartyTransactions

99987

cad

CY2021Q2

ifrs-full

Amounts Payable Related Party Transactions

AmountsPayableRelatedPartyTransactions

279642

cad

CY2020Q2

ifrs-full

Amounts Payable Related Party Transactions

AmountsPayableRelatedPartyTransactions

217948

cad

CY2022

ifrs-full

Disclosure Of Income Tax Explanatory

DisclosureOfIncomeTaxExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">17.</td><td>Income Taxes</td></tr></table> The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 27% (2021 – 27%) to the effective tax rate is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Net loss before income tax</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">(9,446,454</td><td style="width: 1%; font-weight: bold; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(552,436</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(182,116</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Combined federal and provincial statutory income tax rates</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">27</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27</td><td style="padding-bottom: 1.5pt; text-align: left">%</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27</td><td style="padding-bottom: 1.5pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expected income tax recovery at statutory rates</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">2,550,543</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">149,158</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49,171</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Non-deductible differences</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(1,102,753</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,310</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,711</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Change in unrecognized deductible temporary differences</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">(1,447,790</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(141,848</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(67,882</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="font-weight: bold; text-align: left; padding-bottom: 4pt">Total income tax recovery</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-141">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-142">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-143">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Unrecognized deductible temporary differences The income tax benefit of the following deductible temporary differences has not been recorded in these financial statements because of the uncertainly of their recovery: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2021</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center">2020</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Non-capital losses carried forward</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,110,151</td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">300,805</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">169,751</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Exploration and evaluation assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">(100,058</td><td style="font-weight: bold; text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(109,447</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(60,266</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Other items</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">660,396</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">15,278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,409</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,670,489</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">206,636</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">114,894</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> Non-capital losses carried forward The Company has non-capital tax losses available to reduce taxes in future years of approximately $4,112,000 (2021 – $1,114,000 ). These losses have expiry dates between 2038 and 2042. Tax attributes are subject to review, and potential adjustment, by tax authorities

CY2022

ifrs-full

Applicable Tax Rate

ApplicableTaxRate

0.27

pure

CY2022

litm

Provincial Statutory Income Tax Rate

ProvincialStatutoryIncomeTaxRate

0.27

pure

CY2021

ifrs-full

Applicable Tax Rate

ApplicableTaxRate

0.27

pure

CY2021

litm

Provincial Statutory Income Tax Rate

ProvincialStatutoryIncomeTaxRate

0.27

pure

CY2022

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-9446454

cad

CY2021

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-552436

cad

CY2020

ifrs-full

Profit Loss Before Tax

ProfitLossBeforeTax

-182116

cad

CY2022

ifrs-full

Average Effective Tax Rate

AverageEffectiveTaxRate

0.27

pure

CY2021

ifrs-full

Average Effective Tax Rate

AverageEffectiveTaxRate

0.27

pure

CY2020

ifrs-full

Average Effective Tax Rate

AverageEffectiveTaxRate

0.27

pure

CY2022

ifrs-full

Tax Effect From Change In Tax Rate

TaxEffectFromChangeInTaxRate

2550543

cad

CY2021

ifrs-full

Tax Effect From Change In Tax Rate

TaxEffectFromChangeInTaxRate

149158

cad

CY2020Q2

ifrs-full

Current Accrued Expenses And Other Current Liabilities

CurrentAccruedExpensesAndOtherCurrentLiabilities

cad

CY2020

ifrs-full

Tax Effect From Change In Tax Rate

TaxEffectFromChangeInTaxRate

49171

cad

CY2022

ifrs-full

Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss

TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss

1102753

cad

CY2021

ifrs-full

Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss

TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss

7310

cad

CY2020

ifrs-full

Tax Effect Of Expense Not Deductible In Determining Taxable Profit Tax Loss

TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss

-18711

cad

CY2022

ifrs-full

Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income

OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome

-1447790

cad

CY2021

ifrs-full

Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income

OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome

-141848

cad

CY2020

ifrs-full

Other Tax Effects For Reconciliation Between Accounting Profit And Tax Expense Income

OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome

-67882

cad

CY2022

ifrs-full

Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences

DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences

1110151

cad

CY2021

ifrs-full

Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences

DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences

300805

cad

CY2020

ifrs-full

Deferred Tax Expense Income Relating To Origination And Reversal Of Temporary Differences

DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences

169751

cad

CY2022

ifrs-full

Payments For Exploration And Evaluation Expenses

PaymentsForExplorationAndEvaluationExpenses

100058

cad

CY2021

ifrs-full

Payments For Exploration And Evaluation Expenses

PaymentsForExplorationAndEvaluationExpenses

109447

cad

CY2020

ifrs-full

Payments For Exploration And Evaluation Expenses

PaymentsForExplorationAndEvaluationExpenses

60266

cad

CY2022

ifrs-full

Other Components Of Deferred Tax Expense Income

OtherComponentsOfDeferredTaxExpenseIncome

660396

cad

CY2021

ifrs-full

Other Components Of Deferred Tax Expense Income

OtherComponentsOfDeferredTaxExpenseIncome

15278

cad

CY2020

ifrs-full

Other Components Of Deferred Tax Expense Income

OtherComponentsOfDeferredTaxExpenseIncome

5409

cad

CY2022

ifrs-full

Other Comprehensive Income Before Tax

OtherComprehensiveIncomeBeforeTax

1670489

cad

CY2021

ifrs-full

Other Comprehensive Income Before Tax

OtherComprehensiveIncomeBeforeTax

206636

cad

CY2020

ifrs-full

Other Comprehensive Income Before Tax

OtherComprehensiveIncomeBeforeTax

114894

cad

CY2022

ifrs-full

Tax Effect Of Tax Losses

TaxEffectOfTaxLosses

4112000

cad

CY2021

ifrs-full

Tax Effect Of Tax Losses

TaxEffectOfTaxLosses

1114000

cad

CY2022

litm

Loss Carried Forward Description

LossCarriedForwardDescription

These losses have expiry dates between 2038 and 2042.

CY2022

ifrs-full

Disclosure Of Financial Risk Management Explanatory

DisclosureOfFinancialRiskManagementExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">19.</td><td>Financial Risks</td></tr></table> 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. Credit risk 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, other receivable (excluding sales tax receivable) 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 banks in Canada, which is closely monitored by management. Management believes that the credit risk concentration with respect to financial instruments included in cash, other receivables and due from related party is minimal. Liquidity risk 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. As at June 30, 2022, the Company had a cash balance of $23,792,408 (June 30, 2021 – $318,844; June 30, 2020 – $143,089), to settle current liabilities of $1,780,877 (June 30, 2021 – $1,374,819; June 30, 2020 – $343,734). As at June 30, 2022, the Company had the following contractual obligations: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> 1 to 3 years</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> 3 to 5 years</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Total</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accounts payable and accrued liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,182,449</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-144"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,182,449</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-146">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">110,274</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Loan payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,157</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">201,157</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.25in; padding-left: 0.25in">Derivative liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table> The Company manages liquidity risk by maintaining adequate cash reserves and by continuously monitoring forecast 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, 2022. Interest rate risk 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. The Company’s loans payable and convertible debentures have fixed interest rates. As at June 30, 2022, 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. Foreign exchange risk 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. COVID-19 In December 2019, COVID-19 surfaced in Wuhan, China. The World Health Organization declared a global emergency on January 30, 2020 with respect to the outbreak then characterized it as a pandemic on March 11, 2020. The outbreak has spread globally, and it has continued to cause companies and various international jurisdictions to impose restrictions, such as quarantines, closures, cancellations and travel restrictions. The duration of the business disruptions internationally and related financial impact to the global economy remains highly uncertain at this time, as COVID-19 continues to evolve. The Company’s operations had been impacted by a delay in projects and restricted access to financing, but management expects the situation to improve once lockdown restrictions will be lifted with vaccine roll-out. Ultimately, the extent to which the COVID-19 pandemic impacts the Company’s financial results will depend on future developments, which remain highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of the COVID-19 pandemic and actions taken to contain it or its impact, among others. These uncertainties arise from the inability to predict the duration of the outbreak, including the duration of travel restrictions, business closures or disruptions, and quarantine/isolation measures that are currently, or may be put in place by Canada, and other countries to fight the virus. While the extent of the impact remains unknown, the Company anticipates this outbreak may cause supply chain disruptions, and increased government regulations, all of which may negatively impact the Company’s business and financial condition. Fair value 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. As at June 30, 2022, the Company’s financial instruments consisted of cash, other receivables (excluding sales tax recoverable), due from related party, accounts payable, due to related parties, loan payable, and derivative liability. The fair value of other receivables (excluding sales tax recoverable), due from related party, accounts payables and due to related parties are approximately equal to their carrying value due to their short-term nature. As at June 30, 2021, the fair values of the loan payable and convertible debentures 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. 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: <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Level 3 – Inputs for the asset or liability that are not based on observable market data (unobservable inputs).</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,792,408</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">23,792,408</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Derivative liability</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(286,997</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-157">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(286,997</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td></tr> </table> As at June 30, 2022, the Company’s financial instruments carried at fair value consisted of its cash, which is classified as Level 1, and its derivative liability, 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, 2022, 2021 and 2020.

CY2022Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

23792408

cad

CY2021Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

318844

cad

CY2020Q2

ifrs-full

Cash And Cash Equivalents

CashAndCashEquivalents

143089

cad

CY2022Q2

ifrs-full

Current Liabilities

CurrentLiabilities

1780877

cad

CY2021Q2

ifrs-full

Current Liabilities

CurrentLiabilities

1374819

cad

CY2020Q2

ifrs-full

Current Liabilities

CurrentLiabilities

343734

cad

CY2022

ifrs-full

Maturity Analysis For Nonderivative Financial Liabilities

MaturityAnalysisForNonderivativeFinancialLiabilities

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Less than 1 year</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> 1 to 3 years</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> 3 to 5 years</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"> Total</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; text-indent: -0.25in; padding-left: 0.25in">Accounts payable and accrued liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,182,449</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-144"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-145"> -</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">1,182,449</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,274</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-146">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-147">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">110,274</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">Loan payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,157</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-148">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-149">-</div></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">201,157</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.25in; padding-left: 0.25in">Derivative liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-150">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-151">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">286,997</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 4pt; text-indent: -0.25in; padding-left: 0.25in">Total</td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-152">-</div></td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-153">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,780,877</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left"> </td></tr> </table>

CY2022Q2

ifrs-full

Trade And Other Current Payables

TradeAndOtherCurrentPayables

1182449

cad

CY2022Q2

ifrs-full

Trade And Other Payables To Related Parties

TradeAndOtherPayablesToRelatedParties

110274

cad

CY2022Q2

ifrs-full

Loans Payable In Default

LoansPayableInDefault

201157

cad

CY2022Q2

ifrs-full

Noncurrent Derivative Financial Liabilities

NoncurrentDerivativeFinancialLiabilities

286997

cad

CY2022Q2

ifrs-full

Financial Liabilities

FinancialLiabilities

1780877

cad

CY2022

ifrs-full

Disclosure Of Fair Value Measurement Of Liabilities Explanatory

DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Cash</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">23,792,408</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-154">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-155">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 9%; font-weight: bold; text-align: right">23,792,408</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Derivative liability</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-156">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(286,997</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-157">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">(286,997</td><td style="padding-bottom: 4pt; font-weight: bold; text-align: left">)</td></tr> </table>

CY2022Q2

ifrs-full

Other Cash And Cash Equivalents

OtherCashAndCashEquivalents

23792408

cad

CY2022Q2

ifrs-full

Noncurrent Derivative Financial Liabilities

NoncurrentDerivativeFinancialLiabilities

286997

cad

CY2021Q4

litm

Amount Received For Sustainable Development

AmountReceivedForSustainableDevelopment

30995

cad

CY2022

ifrs-full

Disclosure Of Commitments And Contingent Liabilities Explanatory

DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">21.</td><td>Contingencies</td></tr></table> The Company’s E&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, 2022, 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.

CY2022

ifrs-full

Disclosure Of Events After Reporting Period Explanatory

DisclosureOfEventsAfterReportingPeriodExplanatory

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt" width="100%"><tr style="vertical-align: top"> <td style="width: 0"/><td style="width: 0.25in">22.</td><td>Subsequent Events</td></tr></table> Subsequent to June 30, 2022, the Company paid off the remaining balance of USD $156,105 (CAD $201,157) on the Loan upon its maturity. Subsequent to June 30, 2022, 38,082 stock options exercisable at a price of USD $7.50 previously granted to a former officer of the Company, were cancelled. Subsequent to June 30, 2022, the Company received additional grant income of $109,750 from the MMDF.

CY2022

litm

Loan Paid Remaining Balance

LoanPaidRemainingBalance

156105

usd

CY2022

litm

Loan Paid Remaining Balance

LoanPaidRemainingBalance

201157

cad

CY2022Q2

litm

Stock Options Exercisable

StockOptionsExercisable

38082

shares

CY2022

litm

Exercise Price Share Options Granted

ExercisePriceShareOptionsGranted

7.5

CY2022

litm

Received Additional Grant Income

ReceivedAdditionalGrantIncome

109750

cad

CY2022

dei

Document Accounting Standard

DocumentAccountingStandard

International Financial Reporting Standards

CY2022

dei

Auditor Firm

AuditorFirmId

1054

CY2021Q2

ifrs-full

Trade And Other Current Receivables Due From Related Parties

TradeAndOtherCurrentReceivablesDueFromRelatedParties

cad

CY2021Q2

ifrs-full

Shortterm Borrowings

ShorttermBorrowings

cad

CY2022Q2

ifrs-full

Notes And Debentures Issued

NotesAndDebenturesIssued

cad

CY2021

litm

Stockbased Compensation

StockbasedCompensation

cad

CY2020

litm

Stockbased Compensation

StockbasedCompensation

cad

CY2021

ifrs-full

Insurance Service Expenses From Insurance Contracts Issued

InsuranceServiceExpensesFromInsuranceContractsIssued

cad

CY2020

ifrs-full

Insurance Service Expenses From Insurance Contracts Issued

InsuranceServiceExpensesFromInsuranceContractsIssued

cad

CY2020

ifrs-full

Gains Losses On Disposals Of Property Plant And Equipment

GainsLossesOnDisposalsOfPropertyPlantAndEquipment

cad

CY2021

ifrs-full

Travel Expense

TravelExpense

cad

CY2020

litm

Amortization Of Transaction Costs

AmortizationOfTransactionCosts

cad

CY2021

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

cad

CY2020

ifrs-full

Research And Development Expense

ResearchAndDevelopmentExpense

cad

CY2020

ifrs-full

Gains Losses On Change In Fair Value Of Derivatives

GainsLossesOnChangeInFairValueOfDerivatives

cad

CY2021

ifrs-full

Income Tax Expense Continuing Operations

IncomeTaxExpenseContinuingOperations

cad

CY2020

ifrs-full

Income Tax Expense Continuing Operations

IncomeTaxExpenseContinuingOperations

cad

CY2022

litm

Recovery Of Accounts Payable

RecoveryOfAccountsPayable

cad

CY2020

litm

Recovery Of Accounts Payable

RecoveryOfAccountsPayable

cad

CY2022

litm

Recovery Of Flow Through Share Liability

RecoveryOfFlowThroughShareLiability

cad

CY2021

litm

Recovery Of Flow Through Share Liability

RecoveryOfFlowThroughShareLiability

cad

CY2020

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

13007995

shares

CY2021

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

13008669

shares

CY2022

ifrs-full

Adjusted Weighted Average Shares

AdjustedWeightedAverageShares

15884041

shares

CY2020

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-0.01

CY2021

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-0.04

CY2022

ifrs-full

Diluted Earnings Loss Per Share

DilutedEarningsLossPerShare

-0.60

CY2022

litm

Cancellation Of Stock Options

CancellationOfStockOptions

cad

CY2022

litm

Recovery Of Accounts Payable

RecoveryOfAccountsPayable

cad

CY2020

litm

Recovery Of Accounts Payable

RecoveryOfAccountsPayable

cad

CY2020

litm

Interest Expense And Accretion

InterestExpenseAndAccretion

cad

CY2020

litm

Amortization Of Transaction Costs

AmortizationOfTransactionCosts

cad

CY2021

ifrs-full

Adjustments For Sharebased Payments

AdjustmentsForSharebasedPayments

cad

CY2020

ifrs-full

Adjustments For Sharebased Payments

AdjustmentsForSharebasedPayments

cad

CY2020

ifrs-full

Gains Losses On Financial Assets At Fair Value Through Profit Or Loss

GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss

cad

CY2022

ifrs-full

Adjustments For Losses Gains On Disposal Of Noncurrent Assets

AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets

cad

CY2021

ifrs-full

Adjustments For Losses Gains On Disposal Of Noncurrent Assets

AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets

cad

CY2021

ifrs-full

Adjustments For Unrealised Foreign Exchange Losses Gains

AdjustmentsForUnrealisedForeignExchangeLossesGains

cad

CY2022

ifrs-full

Interest Paid Classified As Financing Activities

InterestPaidClassifiedAsFinancingActivities

cad

CY2021

ifrs-full

Interest Paid Classified As Financing Activities

InterestPaidClassifiedAsFinancingActivities

cad

CY2022

ifrs-full

Proceeds From Issue Of Bonds Notes And Debentures

ProceedsFromIssueOfBondsNotesAndDebentures

cad

CY2020

ifrs-full

Proceeds From Issue Of Bonds Notes And Debentures

ProceedsFromIssueOfBondsNotesAndDebentures

cad

CY2021

ifrs-full

Proceeds From Issuing Shares

ProceedsFromIssuingShares

cad

CY2020

ifrs-full

Proceeds From Issuing Shares

ProceedsFromIssuingShares

cad

CY2021

ifrs-full

Payments For Share Issue Costs

PaymentsForShareIssueCosts

cad

CY2020

ifrs-full

Payments For Share Issue Costs

PaymentsForShareIssueCosts

cad

CY2021

ifrs-full

Proceeds From Borrowings Classified As Financing Activities

ProceedsFromBorrowingsClassifiedAsFinancingActivities

cad

CY2020

ifrs-full

Proceeds From Borrowings Classified As Financing Activities

ProceedsFromBorrowingsClassifiedAsFinancingActivities

cad

CY2021

ifrs-full

Repayments Of Borrowings Classified As Financing Activities

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Concept	2022 Q2	2022	2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$23.79M	$23.79M
YoY Change		7362.18%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets	$932.2K	$932.2K
YoY Change		1271.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$25.03M	$25.03M
YoY Change		6197.24%
LONG-TERM ASSETS
Property, Plant & Equipment	$12.08M	$12.08M
YoY Change		110.77%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	12.08M cads	$12.08M
YoY Change		110.77%
TOTAL ASSETS
Total Short-Term Assets	$25.03M	$25.03M
Total Long-Term Assets	12.08M cads	$12.08M
Total Assets	37.11M cads	$37.11M	6.128M cads
YoY Change	505.56%	505.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.182M	$568.1K
YoY Change		116.71%
Accrued Expenses		$614.4K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt	$201.2K	$201.2K
YoY Change		-52.46%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.781M	$1.781M
YoY Change		29.54%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$1.781M	$1.781M
Total Long-Term Liabilities	$0.00	$0.00
Total Liabilities	1.781M cads	$1.781M	1.375M cads
YoY Change	29.54%	29.54%
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	$35.33M	$35.33M
YoY Change
Total Liabilities & Shareholders Equity	$37.11M	$37.11M
YoY Change		505.56%

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$LITM
Snow Lake Resources Ltd. Stock $litm

2022 Q2 Form 20-F Financial Statement

#000121390022067776 Filed on November 01, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LITM Snow Lake Resources Ltd. Stock $litm

2022 Q2 Form 20-F Financial Statement

#000121390022067776 Filed on November 01, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LITM
Snow Lake Resources Ltd. Stock $litm