Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• The Company incurred a net loss of approximately $1.70 million during the year ended December 31, 2022 and, as of that date, the Company’s deficit is approximately $8.98 million. The Company’s ability to continue as a going concern is dependent on the ability of the Company to raise debt or equity financings, and the attainment of profitable operations.
• Rapid spread of COVID-19 may have an adverse effect on the Company's financing capabilities.
• The Company is dependent on a relatively small number of key personnel, the loss of any one of whom could have an adverse effect on the Company.
• The Company may become subject to liability for cave-ins, pollution or other hazards against which it cannot insure or against which it has elected not to insure because of high premium costs or other reasons.
• Failure to comply with applicable laws, regulations, and permitting requirements may result in enforcement actions including orders issued by regulatory or judicial authorities causing operations to cease or be curtailed, and may include corrective measures requiring capital expenditures, installation of additional equipment or remedial actions.
• Changes in regulations, foreign policy, or shifts in political attitudes may vary from country to country and are beyond the control of the Company and may adversely affect its business and its ability to operate in foreign jurisdictions.
• There is a risk that monies allotted for land reclamation may not be sufficient to cover all risks, due to changes in the nature of any potential waste rock and/or tailings and/or revisions to government regulations.
• Companies may be liable for environmental contamination and natural resource damages relating to properties that they currently own or operate or at which environmental contamination occurred while or before they owned or operated the properties.
• The Company is or may become subject to foreign exchange restrictions which may severely limit or restrict its ability to repatriate capital or profits from its properties outside of Canada to Canada.
• Volatility in the price of the Company’s common shares could cause investor loss.
• The resale of outstanding shares from the exercise of dilutive securities could have a depressing effect on the market for the Company’s shares.

Mitigation Strategies

• The Company has a planning and budgeting process in place to ensure that adequate funds are available to meet its strategic goals. The Company monitors actual expenses on all exploration projects and overhead to manage its costs, commitments and exploration activities. The Company invests its excess capital in liquid investments to obtain adequate returns.
• As at December 31, 2022, COVID-19 has not had a significant negative impact on the Company’s operations or ability to raise capital.
• The Company limits exposure to credit risk on liquid financial assets through maintaining its cash with high-credit quality Canadian financial institutions.
• The Company ensures that there is sufficient capital in order to meet short-term business requirements, after taking into account the Company's holdings of cash and its ability to raise equity financings.
• The Company conducts its mineral exploration activities in compliance with applicable environmental protection legislation.
• The Company has implemented ongoing policies, controls and practices to manage and safeguard the Company and its stakeholders from internal and external cybersecurity threats and to comply with changing legal requirements and industry practice.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Third-party Assurance: Smythe LLP

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Material uncertainties may cast significant doubt on the Company’s ability to continue as a going concern.
• The Company's ability to continue its operations and to realize its assets at their carrying values is dependent upon obtaining additional financing and generating revenues sufficient to cover its operating costs.
• The recoverability of the amounts shown for exploration and evaluation assets are dependent upon the existence of economically recoverable reserves, the ability of the Company to obtain necessary financing to complete the development of those reserves and upon future profitable production.

Mitigation Strategies

• The Company is in the process of exploring its own mineral exploration properties and evaluating new properties for potential acquisition.
• The Company intends to raise additional equity financing in the coming fiscal year to meet its obligations.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS