Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• The Company had incurred operating losses since inception and at December 31, 2019, had a cumulative deficit of $11,518,962. These uncertainties cast significant doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent upon the successful results from its mineral property exploration activities and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations.
• The Company had received a default notice from the vendor with respect to an option agreement entered into by the Company in connection with the acquisition of the Margurete Gold Property (“Margurete”). The default relates to certain option commitments which the Company has been unable to satisfy with current working capital.

Mitigation Strategies

• Management intends to finance operating costs over the next twelve months from proceeds of private placements of its common shares.
• The Company is currently in discussions with the vendor in an attempt to renegotiate the terms of the option and extend the payment deadline which would allow the Company to retain Margurete and continue its exploration program.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• The Company had not advanced its exploration and evaluation assets to commercial production and is not able to finance day to day activities through operations.
• The Company has incurred operating losses since inception and at March 31, 2021, had an accumulated deficit of $11,865,969.
• The Company expects to incur further losses in the development of its business, which indicates that a material uncertainty exists that may cast significant doubt about the Company’s ability to continue as a going concern.
• The Company’s continuation as a going concern is dependent upon the successful results from its mineral property exploration activities and its ability to attain profitable operations and generate funds there from and/or raise equity capital or borrowings sufficient to meet current and future obligations.
• The outbreak of the Coronavirus Disease 2019, or COVID-19, has spread across the globe and is impacting worldwide economic activity. This global pandemic poses the risk that the Company or its clients, employees, contractors, suppliers, and other partners may be unable to conduct regular business activities for an indefinite period of time.

Mitigation Strategies

• Management intends to finance operating costs over the next twelve months from proceeds of private placements of its common shares.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• The Company had not advanced its exploration and evaluation assets to commercial production and is not able to finance day to day activities through operations.
• The Company has incurred operating losses since inception and at March 31, 2023, had an accumulated deficit of $12,650,830.
• The Company expects to incur further losses in the development of its business, which indicates that a material uncertainty exists that may cast significant doubt about the Company’s ability to continue as a going concern.

Mitigation Strategies

• Management intends to finance operating costs over the next twelve months from proceeds of private placements of its common shares.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: IFRS

Third-party Assurance: Mao & Ying LLP