15.	COMMITMENTS AND CONTINGENCIES

The following table discloses the contractual obligations of the Company and its subsidiaries as at

December 31, 2020

for committed exploration work and committed other obligations.

			Less than 1 year		1-3 Years		3-5 Years		More than 5 years
	Total		2021		2022-2023		2024-2025		2026 & over

Committed exploration expenditures	$	-	$	-	$	-	$	-	$	-

Minera Juanicipio (1)&(2)		-		-		-		-		-

Other commitments		79		79		-		-		-
Total Obligations and Commitments	$	79	$	79	$	-	$	-	$	-

(

)

Although the Company makes cash advances to Minera Juanicipio as cash called by the operator Fresnillo (based on approved Minera Juanicipio budgets), they are

not

contractual obligations. The Company intends, however, to continue to fund its share of cash calls and avoid dilution of its ownership interest in Minera Juanicipio.

(

)

According to the operator, Fresnillo, contractual commitments for processing equipment and development contractors are

$192,173

with respect to the Juanicipio Project on a

100%

basis as at

December 31, 2020.

The Company also has optional commitments for property option payments and exploration expenditures as outlined above in

Note

Exploration and Evaluation Assets

. There is

obligation to make any of those payments or to conduct any work on its optioned properties. As the Company advances them, it evaluates exploration results and determines at its own discretion which option payments to make and which additional exploration work to undertake in order to comply with the funding requirements.

The Company could be subject to various investigations, claims and legal and tax proceedings covering matters that arise in the ordinary course of business activities. Each of these matters would be subject to various uncertainties and it is possible that some matters

may

be resolved unfavourably to the Company. Certain conditions

may

exist as of the date of the financial statements are issued, which

may

result in a loss to the Company but which will only be resolved when

one

or more future events occur or fail to occur. The Company is

not

aware of any such claims or investigations, and as such has

not

recorded any related provisions and does

not

expect such matters to result in a material impact on the results of operations, cash flows and financial position.