Pangolin Diamonds Corp.

Climate Impact & Sustainability Data (2015, 2018, 2022-06-30)

Uncertainty about obtaining financing to complete work programs.
Material uncertainties casting significant doubt about the Company’s ability to continue as a going concern.

Continuing losses during the year ended June 30, 2018 and a cumulative deficit as at June 30, 2018.
Working capital deficiency of $303,782 (2017 - working capital of $414,941) and a deficit of $11,251,949 (2017 - $10,424,385) as at June 30, 2018.
Uncertainty about obtaining financing to complete current work programs.
Insufficient cash on hand to meet all exploration and operational expenses for the 2019 fiscal year.
All of the Company’s exploration property interests are located outside of Canada and are subject to the risk of foreign investment, including increases in taxes and royalties, renegotiation of contracts, currency exchange fluctuations and political uncertainty.

Plans to raise additional capital to further develop and explore its projects.
May increase or decrease expenditures as necessary to adjust to a changing capital market environment.

Frameworks Used: IFRS

Third-party Assurance: UHY McGovern Hurley LLP

High degree of risk in mineral exploration with no assurance of profitable mining operations.
Dependence on preservation of property interests, discovery of economically recoverable reserves, profitable operations, or alternative financing.
Risks associated with foreign investment (taxes, royalties, contract renegotiation, currency fluctuations, political uncertainty).
Uncertainty of property title due to unregistered agreements and regulatory compliance.
Material uncertainties due to the COVID-19 outbreak (oil prices, government measures, supply chain disruptions, currency fluctuations, funding availability).
Comprehensive loss, working capital deficiency, and deficit.
Uncertainty of obtaining financing for work programs.

Plans to raise additional capital for project development and exploration.
May increase or decrease expenditures to adjust to changing capital market environments.