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<div> <div> <div> <div> <div> <div> <div> <div> <div> 1. HISTORY AND ORGANIZATION OF THE COMPANY Xtra-Gold Resources Corp., previously Silverwing Systems Corporation, was incorporated under the laws of the State of Nevada on September 1, 1998, pursuant to the provisions of the Nevada Revised Statutes. In 2003, the Company became a resource exploration company. The Company has also engaged in recovery of gold through alluvial operations on its claims. On November 30, 2012, the Company redomiciled from the USA to the British Virgin Islands. In 2004, the Company acquired 100% of the issued and outstanding capital stock of Canadiana Gold Resources Limited ("Canadiana") and 90% of the issued and outstanding capital stock of Goldenrae Mining Company Limited ("Goldenrae"). Both companies are incorporated in Ghana and the remaining 10% of the issued and outstanding capital stock of Goldenrae is held by the Government of Ghana. On December 21, 2005, Canadiana changed its name to Xtra-Gold Exploration Limited ("XG Exploration"). On January 13, 2006, Goldenrae changed its name to Xtra-Gold Mining Limited ("XG Mining"). </div> </div> </div> </div> </div> </div> </div> </div> </div>

0.90

0.10

<div> <div> <div> <div> <div> <div> <div> <div> <div> 2. GOING CONCERN The Company is in development as an exploration company. It may need financing for its exploration and acquisition activities. The Company has incurred a loss of $165,928 for the year ended December 31, 2023, and it has an accumulated deficit of $21,511,326. Results for the year ended December 31, 2023 are not necessarily indicative of future results. The uncertainty of gold recovery and the fact the Company does not have a demonstrably viable business to provide future funds, raises substantial doubt about its ability to continue as a going concern for one year from the issuance of the financial statements. The ability of the Company to continue as a going concern is dependent on the Company's ability to raise additional capital and implement its business plan, which is typical for junior exploration companies. The financial statements do not include any adjustments related to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company ("Management") is of the opinion that sufficient financing will be obtained from external sources and further share issuances will be made to meet the Company's obligations. Although alluvial gold sales have contributed significantly to the Company, this funding source is nearly depleted and cannot be relied on as a source of future funding. The Company's discretionary exploration activities do have considerable scope for flexibility in terms of the amount and timing of exploration expenditure, and expenditures may be adjusted accordingly if required. </div> </div> </div> </div> </div> </div> </div> </div> </div>

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<div> <div> <div> <div> 3. SIGNIFICANT ACCOUNTING POLICIES </div> </div> </div> <div> <div> <div> <div> Basis of presentation These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America ("US GAAP"). </div> </div> <div> <div> Principles of consolidation These consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, XG Exploration and its 90% owned subsidiary, XG Mining . All intercompany accounts and transactions have been eliminated on consolidation. </div> </div> <div> <div> Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties, inputs used in the calculation of stock-based compensation and warrants, inputs used in the calculation of the asset retirement obligation, the valuation allowance applied to level 3 investments, and the valuation allowance applied to deferred income taxes. Actual results could differ from those estimates and would impact future results of operations and cash flows. </div> </div> <div> <div></div> </div> <div> <div> Cash and cash equivalents The Company considers highly liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2023 and 2022, cash and cash equivalents consisted of cash held at financial institutions. The Company has been required by the Ghanaian government to post a bond for environmental reclamation. This cash has been recorded as restricted cash, a non-current asset. </div> </div> <div> Prepaids Prepaid amounts are recognized in an earlier period than they are expensed. These amounts are expensed in the period to which they relate. </div> <div> Inventory Inventories are initially recognized at cost and subsequently stated at the lower of cost or net realizable value. The Company's inventory consists of raw gold recovered from alluvial operations. Costs are determined using the first-in, first-out ("FIFO") method and includes expenditures incurred in extracting the raw gold, other costs incurred in bringing them to their existing location and condition, and the cost of reclaiming the disturbed land to a natural state. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is not estimated to be recoverable due to declining selling prices, or other issues related to the sale of gold. </div> <div> Recovery of gold Recovery of gold and other income is recognized when title and the risks and rewards of ownership to delivered bullion and commodities pass to the buyer and collection is reasonably assured. Recovery of gold, net of expenses, is not related to exploration and is not the core business of the Company, so proceeds from gold recovery are recognized as other income. </div> <div> Trading securities The Company's trading securities are reported at fair value, with realized and unrealized gains and losses included in earnings. </div> <div> Non-Controlling Interest The consolidated financial statements include the accounts of XG Mining. All intercompany accounts and transactions have been eliminated upon consolidation. The Company records a non-controlling interest which reflects the 10% portion of the earnings (loss) of XG Mining allocable to the holders of the minority interest. </div> <div> Equipment Equipment is recorded at cost and is being depreciated over its estimated useful lives, which recognizes operating conditions in Ghana, using the declining balance method at the following annual rates: <div> Furniture and equipment 20% Computer equipment 30% Vehicles 30% Mining and exploration equipment 20% </div> </div> <div></div> <div> Mineral properties and exploration and development costs The costs of acquiring mineral rights are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset. The mineral properties do not fall under the guidance of ASC 842. </div> <div> <div> Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the undiscounted future cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. No impairment charge was deemed necessary for mineral properties in 2023 or 2022. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. </div> </div> <div> Asset retirement obligations The Company records the estimated rehabilitation value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the changes in the estimated future cash flows underlying the obligation (asset retirement cost). </div> <div> Stock-based compensation The Company accounts for stock compensation arrangements under ASC 718 "Compensation - Stock Compensation" using the fair value based method. Under this method, compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period. This guidance establishes standards for the accounting for transactions in which an entity exchanges it equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity's equity instruments or that may be settled by the issuance of those equity instruments. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee, including directors of the Company. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of the goods and services received. We use the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options. The stock based fair value compensation is determined as of the date of the grant (measurement date) and is recognized over the vesting periods. </div> <div> Warrants The Company accounts for freestanding warrants within stockholder's equity or as liabilities based on the characteristics and provisions of each instrument. The Company evaluates outstanding warrants in accordance with ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. If none of the criteria in the evaluation in these standards are met, the warrants are classified as a component of stockholders' equity and initially recorded at their grant date fair value without subsequent remeasurement. Warrants that meet the criteria are classified as liabilities and remeasured to their fair value at the end of each reporting period. </div> <div> <div></div> </div> <div> Share repurchases The Company accounts for the repurchase of its common shares as an increase in shares in treasury for the market value of the shares at the time of purchase. When the shares are cancelled, the issued and outstanding shares are reduced by the $0.001 par value and the difference is accounted for as a reduction in additional paid in capital. </div> <div> Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or all of the deferred tax asset will not be recognized. </div> <div> Income (Loss) per share Basic and diluted earnings or loss per share ("EPS") amounts in the consolidated financial statements are computed in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 260 - 10 "Earnings per Share", which establishes the requirements for presenting EPS. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common stock issuable through contingent share arrangements, stock options and warrants unless the result would be antidilutive. There were no potentially dilutive shares of common stock outstanding for the years ended December 31, 2023, 2022, and 2021, respectively. </div> <div> Foreign exchange The Company's functional currency is the U.S. dollar. Any monetary assets and liabilities that are in a currency other than the U.S. dollar are translated at the rate prevailing at year end. Revenue and expenses in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into U.S. dollars are included in current results of operations. </div> <div> Financial instruments The Company's financial instruments consist of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities. It is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The carrying amounts of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities approximate their fair value due to the short-term nature of those financial instruments. Cash in Canada is primarily held in financial institutions. Balances on hand may exceed insured maximums. Cash in Ghana is held in banks with a strong international presence. Ghana does not insure bank balances. </div> <div> Fair value of financial assets and liabilities Our financial assets and liabilities that are measured at fair value on a recurring basis include cash equivalents, marketable securities, derivative contracts, and marketable debt securities. Our financial assets measured at fair value on a nonrecurring basis include non-marketable equity securities, which are adjusted to fair value when observable price changes are identified or when the non-marketable equity securities are impaired (referred to as the measurement alternative). Other financial assets and liabilities are carried at cost with fair value disclosed, if required. <div> <div></div> </div> Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified in accordance with a three-tier fair value hierarchy based on the observability of the inputs available in the market used to measure fair value: <ul style="padding-left:0pt;list-style-type:disc"> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt;color:#201f1e">Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.</li> </ul> <ul style="padding-left:0pt;list-style-type:disc"> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt;color:#201f1e">Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be derived from observable market data. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, foreign exchange rates, and credit ratings.</li> </ul> <ul style="padding-left:0pt;list-style-type:disc"> <li style="margin-left:63.45pt;padding-left:8.25pt;color:#201f1e;text-align:justify">Level 3 - Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions. </li> </ul> The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. </div> <div> Cash, Cash Equivalents, and Marketable Securities We invest all excess cash primarily in time deposits, money market funds, corporate debt securities, equities, limited partnerships, and rights and warrants. We classify all marketable debt securities that have stated maturities of three months or less from the date of purchase as cash equivalents and those with stated maturities of greater than three months as marketable securities on our Consolidated Balance Sheets. We determine the appropriate classification of our investments in marketable debt securities at the time of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable debt securities as trading securities. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these debt securities prior to their stated maturities. For all of our marketable debt securities we have elected the fair value option, for which changes in fair value are recorded in other income (expense), net. We determine any realized gains or losses on the sale of marketable debt securities on a specific identification method, and we record such gains and losses as a component of other income (expense), net. The following tables summarize our investment in debt instruments, at their fair value, by significant investment categories as of December 31, 2023 and 2022: <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Level 1 - Cash equivalents</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Money market funds</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">6,738,412</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">5,559,705</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:22%">6,738,412</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:22%">5,559,705</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <div> <div></div> </div> Cash, cash equivalents, and investments <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Quoted Prices in Active Markets (Level 1)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Significant Other Observable Inputs (Level 2)</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Significant Unobservable Inputs (Level 3)</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash and cash equivalents</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,154,462</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,124,364</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Restricted cash</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Marketable securities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;padding-left:36pt;text-indent:-18pt">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,663,185</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,633,087</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">December 31, 2022</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Quoted Prices in Active Markets (Level 1)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Significant Other Observable Inputs (Level 2)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Significant Unobservable Inputs (Level 3)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash and cash equivalents</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,781,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,781,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Restricted cash</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Marketable securities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;padding-left:36pt;text-indent:-18pt">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,574,488</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,574,488</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> The fair values of cash and cash equivalents and marketable securities are determined through market, observable and corroborated sources. </div> <div> Investment in Debt Securities We classify our marketable debt securities, which are accounted for as trading securities, within Level 1 or 2 in the fair value hierarchy because we use quoted market prices to the extent available or alternative pricing sources and models utilizing market observable inputs to determine fair value. </div> <div> <div> Investment in trading securities The following discusses our marketable equity securities, non-marketable equity securities, gains and losses on marketable and non-marketable equity securities, as well as our equity securities accounted for under the equity method. Our marketable equity securities are publicly traded stocks or funds measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because we use quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets. Our non-marketable equity securities are investments in privately held companies without readily determinable market values. The carrying value of our non-marketable equity securities is adjusted to fair value for observable transactions for identical or similar investments of the same issuer or impairment (referred to as the measurement alternative). Non-marketable equity securities that have been remeasured during the period based on observable transactions are classified within Level 2 or Level 3 in the fair value hierarchy because we estimate the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the securities we hold. The fair value of non-marketable equity securities that have been remeasured due to impairment are classified within Level 3. </div> </div> <div> <div></div> </div> <div> <div> Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. The Company held $6,738,412 and $5,653,644 as of December 31, 2023 and 2022, respectively, in low-risk cash and money market funds which are not federally insured. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. The Company has contracted to sell all its recovered gold through a licensed exporter in Ghana. The Company sells its raw gold to one smelter. Ownership of the gold is transferred to the smelting company at the mine site. The Company has not experienced any losses from this sole sourced smelter and believes it is not exposed to any significant risks on its gold processing. </div> </div> <div> Recent Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805). This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. This ASU is currently not expected to have a material impact on our consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, ASC Subtopic "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions". These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements. </div> </div> </div> </div>

<div> Basis of presentation These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America ("US GAAP"). </div>

<div> Principles of consolidation These consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries, XG Exploration and its 90% owned subsidiary, XG Mining . All intercompany accounts and transactions have been eliminated on consolidation. </div>

0.90

<div> Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring the use of estimates include the carrying value and recoverability of mineral properties, inputs used in the calculation of stock-based compensation and warrants, inputs used in the calculation of the asset retirement obligation, the valuation allowance applied to level 3 investments, and the valuation allowance applied to deferred income taxes. Actual results could differ from those estimates and would impact future results of operations and cash flows. </div>

<div> Prepaids Prepaid amounts are recognized in an earlier period than they are expensed. These amounts are expensed in the period to which they relate. </div>

<div> Inventory Inventories are initially recognized at cost and subsequently stated at the lower of cost or net realizable value. The Company's inventory consists of raw gold recovered from alluvial operations. Costs are determined using the first-in, first-out ("FIFO") method and includes expenditures incurred in extracting the raw gold, other costs incurred in bringing them to their existing location and condition, and the cost of reclaiming the disturbed land to a natural state. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. Inventories are written down to net realizable value when the cost of inventories is not estimated to be recoverable due to declining selling prices, or other issues related to the sale of gold. </div>

<div> Recovery of gold Recovery of gold and other income is recognized when title and the risks and rewards of ownership to delivered bullion and commodities pass to the buyer and collection is reasonably assured. Recovery of gold, net of expenses, is not related to exploration and is not the core business of the Company, so proceeds from gold recovery are recognized as other income. </div>

<div> Trading securities The Company's trading securities are reported at fair value, with realized and unrealized gains and losses included in earnings. </div>

<div> Non-Controlling Interest The consolidated financial statements include the accounts of XG Mining. All intercompany accounts and transactions have been eliminated upon consolidation. The Company records a non-controlling interest which reflects the 10% portion of the earnings (loss) of XG Mining allocable to the holders of the minority interest. </div>

0.10

<div> Equipment Equipment is recorded at cost and is being depreciated over its estimated useful lives, which recognizes operating conditions in Ghana, using the declining balance method at the following annual rates: <div> Furniture and equipment 20% Computer equipment 30% Vehicles 30% Mining and exploration equipment 20% </div> </div>

<div> Furniture and equipment 20% Computer equipment 30% Vehicles 30% Mining and exploration equipment 20% </div> 0.20 0.30 0.30 0.20 <div> Mineral properties and exploration and development costs The costs of acquiring mineral rights are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral property is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral properties are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves (which exclude non-recoverable reserves and anticipated processing losses). When the Company receives an option payment related to a property, the proceeds of the payment are applied to reduce the carrying value of the exploration asset. The mineral properties do not fall under the guidance of ASC 842. </div>

<div> <div> Impairment of long-lived assets Long-lived assets are evaluated for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable or that the useful lives of these assets are no longer appropriate. Each impairment test is based on a comparison of the undiscounted future cash flows to the recorded value of the asset. If impairment is indicated, the asset is written down to its estimated fair value. No impairment charge was deemed necessary for mineral properties in 2023 or 2022. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. </div> </div>

<div> Asset retirement obligations The Company records the estimated rehabilitation value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the changes in the estimated future cash flows underlying the obligation (asset retirement cost). </div>

<div> Stock-based compensation The Company accounts for stock compensation arrangements under ASC 718 "Compensation - Stock Compensation" using the fair value based method. Under this method, compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period. This guidance establishes standards for the accounting for transactions in which an entity exchanges it equity instruments for goods or services. It also addresses transactions in which an entity incurs liabilities in exchange for goods or services that are based on the fair value of the entity's equity instruments or that may be settled by the issuance of those equity instruments. An individual is classified as an employee when the individual is an employee for legal or tax purposes (direct employee) or provides services similar to those performed by a direct employee, including directors of the Company. In situations where equity instruments are issued to non-employees and some or all of the goods or services received by the entity as consideration cannot be specifically identified, they are measured at fair value of the share-based payment. Otherwise, share-based payments are measured at the fair value of the goods and services received. We use the fair value method for equity instruments granted to non-employees and use the Black-Scholes model for measuring the fair value of options. The stock based fair value compensation is determined as of the date of the grant (measurement date) and is recognized over the vesting periods. </div>

<div> Warrants The Company accounts for freestanding warrants within stockholder's equity or as liabilities based on the characteristics and provisions of each instrument. The Company evaluates outstanding warrants in accordance with ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. If none of the criteria in the evaluation in these standards are met, the warrants are classified as a component of stockholders' equity and initially recorded at their grant date fair value without subsequent remeasurement. Warrants that meet the criteria are classified as liabilities and remeasured to their fair value at the end of each reporting period. </div> <div> Share repurchases The Company accounts for the repurchase of its common shares as an increase in shares in treasury for the market value of the shares at the time of purchase. When the shares are cancelled, the issued and outstanding shares are reduced by the $0.001 par value and the difference is accounted for as a reduction in additional paid in capital. </div> 0.001

<div> Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion or all of the deferred tax asset will not be recognized. </div>

<div> Income (Loss) per share Basic and diluted earnings or loss per share ("EPS") amounts in the consolidated financial statements are computed in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 260 - 10 "Earnings per Share", which establishes the requirements for presenting EPS. In the accompanying financial statements, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock and potentially dilutive outstanding shares of common stock during the period to reflect the potential dilution that could occur from common stock issuable through contingent share arrangements, stock options and warrants unless the result would be antidilutive. There were no potentially dilutive shares of common stock outstanding for the years ended December 31, 2023, 2022, and 2021, respectively. </div>

<div> Foreign exchange The Company's functional currency is the U.S. dollar. Any monetary assets and liabilities that are in a currency other than the U.S. dollar are translated at the rate prevailing at year end. Revenue and expenses in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into U.S. dollars are included in current results of operations. </div>

<div> Financial instruments The Company's financial instruments consist of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities. It is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. The carrying amounts of cash and cash equivalents, trading securities, receivables, accounts payable and accrued liabilities approximate their fair value due to the short-term nature of those financial instruments. Cash in Canada is primarily held in financial institutions. Balances on hand may exceed insured maximums. Cash in Ghana is held in banks with a strong international presence. Ghana does not insure bank balances. </div>

<div> Fair value of financial assets and liabilities Our financial assets and liabilities that are measured at fair value on a recurring basis include cash equivalents, marketable securities, derivative contracts, and marketable debt securities. Our financial assets measured at fair value on a nonrecurring basis include non-marketable equity securities, which are adjusted to fair value when observable price changes are identified or when the non-marketable equity securities are impaired (referred to as the measurement alternative). Other financial assets and liabilities are carried at cost with fair value disclosed, if required. <div> <div></div> </div> Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. Assets and liabilities recorded at fair value are measured and classified in accordance with a three-tier fair value hierarchy based on the observability of the inputs available in the market used to measure fair value: <ul style="padding-left:0pt;list-style-type:disc"> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt;color:#201f1e">Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.</li> </ul> <ul style="padding-left:0pt;list-style-type:disc"> <li style="margin-left:63.6pt;text-align:justify;padding-left:8.4pt;color:#201f1e">Level 2 - Inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be derived from observable market data. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, foreign exchange rates, and credit ratings.</li> </ul> <ul style="padding-left:0pt;list-style-type:disc"> <li style="margin-left:63.45pt;padding-left:8.25pt;color:#201f1e;text-align:justify">Level 3 - Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions. </li> </ul> The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. </div>

<div> Cash, Cash Equivalents, and Marketable Securities We invest all excess cash primarily in time deposits, money market funds, corporate debt securities, equities, limited partnerships, and rights and warrants. We classify all marketable debt securities that have stated maturities of three months or less from the date of purchase as cash equivalents and those with stated maturities of greater than three months as marketable securities on our Consolidated Balance Sheets. We determine the appropriate classification of our investments in marketable debt securities at the time of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable debt securities as trading securities. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these debt securities prior to their stated maturities. For all of our marketable debt securities we have elected the fair value option, for which changes in fair value are recorded in other income (expense), net. We determine any realized gains or losses on the sale of marketable debt securities on a specific identification method, and we record such gains and losses as a component of other income (expense), net. The following tables summarize our investment in debt instruments, at their fair value, by significant investment categories as of December 31, 2023 and 2022: <div style="margin-left:45pt"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Level 1 - Cash equivalents</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Money market funds</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">6,738,412</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">5,559,705</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:22%">6,738,412</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:22%">5,559,705</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> <div> <div></div> </div> Cash, cash equivalents, and investments <div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Quoted Prices in Active Markets (Level 1)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Significant Other Observable Inputs (Level 2)</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Significant Unobservable Inputs (Level 3)</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash and cash equivalents</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,154,462</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,124,364</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Restricted cash</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Marketable securities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;padding-left:36pt;text-indent:-18pt">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,663,185</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,633,087</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">December 31, 2022</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Quoted Prices in Active Markets (Level 1)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Significant Other Observable Inputs (Level 2)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Significant Unobservable Inputs (Level 3)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash and cash equivalents</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,781,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,781,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Restricted cash</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Marketable securities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;padding-left:36pt;text-indent:-18pt">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,574,488</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,574,488</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> The fair values of cash and cash equivalents and marketable securities are determined through market, observable and corroborated sources. </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">Level 1 - Cash equivalents</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Money market funds</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">6,738,412</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">5,559,705</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:22%">6,738,412</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:22%">5,559,705</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

6738412

5559705

6738412

5559705

<div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Quoted Prices in Active Markets (Level 1)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Significant Other Observable Inputs (Level 2)</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Significant Unobservable Inputs (Level 3)</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash and cash equivalents</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,154,462</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">7,124,364</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Restricted cash</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Marketable securities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;padding-left:36pt;text-indent:-18pt">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,663,185</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,633,087</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> <div style="margin-left:45pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">December 31, 2022</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Quoted Prices in Active Markets (Level 1)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Significant Other Observable Inputs (Level 2)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center">Significant Unobservable Inputs (Level 3)</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash and cash equivalents</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,781,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">5,781,000</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Restricted cash</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">296,322</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Marketable securities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;padding-left:36pt;text-indent:-18pt">Total</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,574,488</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">9,574,488</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div>

7154462

7124364

296322

2212401

9663185

9633087

5781000

296322

3497166

9574488

<div> Investment in trading securities The following discusses our marketable equity securities, non-marketable equity securities, gains and losses on marketable and non-marketable equity securities, as well as our equity securities accounted for under the equity method. Our marketable equity securities are publicly traded stocks or funds measured at fair value and classified within Level 1 and 2 in the fair value hierarchy because we use quoted prices for identical assets in active markets or inputs that are based upon quoted prices for similar instruments in active markets. Our non-marketable equity securities are investments in privately held companies without readily determinable market values. The carrying value of our non-marketable equity securities is adjusted to fair value for observable transactions for identical or similar investments of the same issuer or impairment (referred to as the measurement alternative). Non-marketable equity securities that have been remeasured during the period based on observable transactions are classified within Level 2 or Level 3 in the fair value hierarchy because we estimate the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the securities we hold. The fair value of non-marketable equity securities that have been remeasured due to impairment are classified within Level 3. </div>

<div> Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. The Company held $6,738,412 and $5,653,644 as of December 31, 2023 and 2022, respectively, in low-risk cash and money market funds which are not federally insured. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risks on its cash in bank accounts. The Company has contracted to sell all its recovered gold through a licensed exporter in Ghana. The Company sells its raw gold to one smelter. Ownership of the gold is transferred to the smelting company at the mine site. The Company has not experienced any losses from this sole sourced smelter and believes it is not exposed to any significant risks on its gold processing. </div>

6738412

5653644

<div> Recent Accounting Pronouncements In October 2021, the FASB issued ASU No. 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (Topic 805). This ASU requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. The ASU is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. This ASU is currently not expected to have a material impact on our consolidated financial statements. In June 2022, the FASB issued ASU 2022-03, ASC Subtopic "Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions". These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments in this update are effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company is currently assessing the impact of the adoption of this standard on its consolidated financial statements. The Company has considered all other recently issued accounting pronouncements and does not believe the adoption of such pronouncements will have a material impact on its financial statements. </div>

<div> 4. PREPAIDS Prepaids consist of the following amounts: <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Prepaid insurance</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">17,581</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">25,536</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Prepaid permit fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">12,515</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Legal advances</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">55,690</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">73,265</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">16,399</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">5,990</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">102,185</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">104,791</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Prepaid insurance</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">17,581</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">25,536</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Prepaid permit fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">12,515</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Legal advances</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">55,690</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">73,265</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">16,399</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">5,990</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">102,185</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">104,791</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

17581

25536

12515 0 55690 73265

16399

5990

102185

104791

<div> 5. INVESTMENTS IN TRADING SECURITIES <div> <div> At December 31, 2023, the Company held investments classified as trading securities, which consisted of various equity securities. All trading securities are carried at fair value. All marketable securities are publicly traded and valued using Level 1 methods. As of December 31, 2023 and 2022 respectively, the fair value of trading securities was $2,212,401 and $3,497,166. The Company recognized a full impairment of certain investments, of $1,336,501 in 2023. During 2021 the company recognized a $211,018 impairment on certain investments. <div></div> <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;text-indent:36pt"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Investments in trading securities at cost</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">3,501,195</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">3,239,782</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Unrealized gains (losses)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">(1,288,794</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">257,384</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Investments in trading securities at fair market value</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> The fair value carrying value of investments by category is as follows: <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;text-indent:36pt"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Marketable Equity Securities - Level 1</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Publicly traded investments</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:19%">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:19%">2,677,169</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Marketable Debt Securities - Level 2</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Corporate bonds</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">117,157</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Non-Marketable Equity Securities - Level 3</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Private investments</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">702,840</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total investments</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> The gains and losses on investments by category is as follows: <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;text-indent:36pt"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2021</td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Marketable Equity Securities - Level 1</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Publicly traded investments - realized</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:15%">95,688</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:15%">354,811</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:15%">559,850</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Publicly traded investments - unrealized</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(480,827</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(148,456</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">227,653</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Non-Marketable Debt Securities - Level 2</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Private bonds</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(194,255</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(20,980</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">11,720</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Non-Marketable Equity Securities - Level 3</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Private investments - realized</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(275,719</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Private investments - unrealized</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">(815,304</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">175,376</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total investments</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%;background-color:#e6efff">(1,394,698</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%;background-color:#e6efff">360,754</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%;background-color:#e6efff">523,504</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> Reported as: <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2021</td> <td style="vertical-align:bottom;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Net gain (loss) on trading securities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(58,197</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">360,754</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">714,523</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Impairment loss on trading securities</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(1,336,501</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(211,018</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">19,999</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Total gain (loss) on investments</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%">(1,394,698</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%">360,754</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%">523,504</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> The Company also recorded interest and dividend income from its investment portfolio as follows: <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2021</td> <td style="vertical-align:bottom;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Interest earned and dividends</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">371,525</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">143,407</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">55,972</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div> </div>

2212401

3497166

-1336501 -211018

3501195

3239782

-1288794 257384

2212401

3497166

<div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;text-indent:36pt"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Marketable Equity Securities - Level 1</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Publicly traded investments</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:19%">2,212,401</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:19%">2,677,169</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Marketable Debt Securities - Level 2</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Corporate bonds</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff">117,157</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Non-Marketable Equity Securities - Level 3</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:19%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Private investments</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">702,840</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total investments</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">2,212,401</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:19%;background-color:#e6efff">3,497,166</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

2212401

2677169

117157

702840

2212401

3497166

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;text-indent:36pt"> </td> <td style="vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;text-align:right;white-space:nowrap">December 31, 2021</td> <td style="vertical-align:bottom;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Marketable Equity Securities - Level 1</td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:center;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Publicly traded investments - realized</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:15%">95,688</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:15%">354,811</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:15%">559,850</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Publicly traded investments - unrealized</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(480,827</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(148,456</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">227,653</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Non-Marketable Debt Securities - Level 2</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Private bonds</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(194,255</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(20,980</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">11,720</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Non-Marketable Equity Securities - Level 3</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Private investments - realized</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(275,719</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Private investments - unrealized</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">(815,304</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">175,376</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total investments</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%;background-color:#e6efff">(1,394,698</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%;background-color:#e6efff">360,754</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%;background-color:#e6efff">523,504</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

95688 354811 559850 -480827 -148456 227653 -194255 -20980 11720 0 0 -275719 -815304 175376 0 -1394698 360754 523504 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2021</td> <td style="vertical-align:bottom;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Net gain (loss) on trading securities</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">(58,197</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">360,754</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">714,523</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Impairment loss on trading securities</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(1,336,501</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:15%">(211,018</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Other</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">19,999</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Total gain (loss) on investments</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%">(1,394,698</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%">360,754</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:right;width:15%">523,504</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> -58197 360754 714523 -1336501 0 -211018 0 0 19999 -1394698 360754 523504 <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2023</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2022</td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right">December 31, 2021</td> <td style="vertical-align:bottom;text-align:justify"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Interest earned and dividends</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">371,525</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">143,407</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">55,972</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

371525

143407

55972

<div> 6. EQUIPMENT <div> <div> <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> Cost</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Accumulated Depreciation</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Net Book Value</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt;background-color:#e6efff">Exploration equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">2,282,277</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">1,909,186</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">373,091</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt">Vehicles</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">800,628</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">630,522</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">170,106</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:justify;text-indent:-12.6pt;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">3,082,905</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">2,539,708</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">543,197</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> The company expensed $165,898 for depreciation in 2023. <div style="margin-left:36pt"> <div> <div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> Cost</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Accumulated Depreciation</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Net Book Value</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt;background-color:#e6efff">Exploration equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">2,282,277</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">1,802,719</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">479,558</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt">Vehicles</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">762,906</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">571,091</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">191,815</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:justify;text-indent:-12.6pt;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">3,045,183</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">2,373,810</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">671,373</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div> </div> The company expensed $188,356 for depreciation in 2022. The company expensed $173,667 for depreciation in 2021. </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> Cost</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Accumulated Depreciation</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Net Book Value</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt;background-color:#e6efff">Exploration equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">2,282,277</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">1,909,186</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">373,091</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt">Vehicles</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">800,628</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">630,522</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">170,106</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:justify;text-indent:-12.6pt;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">3,082,905</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">2,539,708</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">543,197</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="7" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> Cost</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Accumulated Depreciation</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">Net Book Value</td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt;background-color:#e6efff">Exploration equipment</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">2,282,277</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">1,802,719</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:15%;background-color:#e6efff">479,558</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;text-align:justify;text-indent:-12.6pt">Vehicles</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">762,906</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">571,091</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:15%">191,815</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid transparent;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:18pt;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:justify;text-indent:-12.6pt;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">3,045,183</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">2,373,810</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:right;width:15%;background-color:#e6efff">671,373</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

2282277

1909186

373091

800628

630522

170106

3082905

2539708

543197

165898

2282277

1802719

479558

762906

571091

191815

3045183

2373810

671373

188356

173667

<div> <div> 7. MINERAL PROPERTIES </div> <div> <div> The Kibi, Kwabeng and Pameng Projects were purchased as a group in 2004, and the purchase price was not allocated between the properties and camp facilities. As historical option payments received for the right to purchase projects from the Company in previous years have expired unexercised there are no third-party claims against the Projects. The Mineral Properties have a value of $734,422 as at December 31, 2023 and 2022. There was no impairment in the carrying value of the properties in the years ended December 31, 2023 and 2022. Kibi, Kwabeng and Pameng Projects The Company holds the mineral rights over the lease area for Kibi , Kwabeng, and Pameng Projects, all of which are located in Ghana. The original Kwabeng and Pameng mining leases had an expired date of July 26, 2019, while the Apapam (the "Kibi") lease had an expiry date of December 17, 2015. Under the mineral laws, the Company has the right to apply for extensions of mining leases for up to a maximum of 30 years. The Company has applied for extensions on all three of its leases noted above for a further 15 years. The Kwabeng and Pameng extensions were filed on December 13, 2018, and the Kibi lease extension on June 17, 2015. To date, the Company has not received the extension documents from the government. Under mineral law, the old leases remain fully in force until the government issues the new lease documents. The renewal extension is in accordance with the terms of application and payment of fees to the Minerals Commission. All gold production will be subject to a 5% production royalty of the net smelter returns ("NSR") payable to the Government of Ghana. Banso and Muoso Projects During the year ended December 31, 2010, the Company made an application to Mincom to convert a single prospecting license ("PL") securing its interest in the Banso and Muoso Projects located in Ghana to a mining lease covering the lease area of each of these Projects. This application was approved by Mincom who subsequently made recommendation to the Minister of Lands, Forestry and Mines to grant an individual mining lease for each Project. On January 6, 2011, the Government of Ghana granted two mining leases for these Projects. These mining leases grant the Company mining rights to produce gold in the respective leased areas until January 5, 2025 with respect to the Banso Project and until January 5, 2024 with respect to the Muoso Project. These mining leases supersede the PL previously granted to the Company. Among other things, both mining leases require that the Company: <div> <div></div> </div> i) pay the Government of Ghana a fee of $30,000 in consideration of granting of each lease (paid in the March 2011 quarter); ii) pay annual ground rent of GH¢189,146 (approximately USD$35,688) for the Banso Project and GH¢202,378 (approximately USD$38,185) for the Muoso Project; iii) commence commercial production of gold within two years from the date of the mining leases (note: all leases were in production well before the 2 year deadline); and iv) pay a production royalty of 5% of gold sales to the Government of Ghana. No project acquisition costs were recorded for the acquisition of Banso and Muoso Projects. In June 2023 the Company applied for an extension of the Muoso Project. The Banso lease expires on January 5, 2025 and the Company expects to apply for an extension of the Banso lease at that time. Mining Lease and Prospecting License Commitments The Company is committed to expend, from time to time fees payable (a) to the Minerals Commission for: (i) a grant or renewal of a mining lease (currently an annual fee maximum of $1,000.00 per cadastral units/or 21.24 hectare); and (ii) annual operating permits; (b) to the Environmental Protection Agency ("EPA") (of Ghana) for: i) processing and certificate fees with respect to EPA permits; ii) the issuance of permits before the commencement of any work at a particular concession; or iii) the posting of a bond in connection with any mining operations undertaken by the Company; (c) for a legal obligation associated with our mineral properties for clean up costs when work programs are completed. </div> </div> </div>

734422

30000

189146 35688 202378 38185 0.05 1000

<div> 8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Trade payables and accrued liabilities are comprised as follows: <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Trade payables</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">2,137</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">67,584</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Accrued royalties and taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">1,230,012</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">1,018,737</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Accrued other liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">48,911</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">38,871</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%">1,281,060</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%">1,125,192</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table> </div> The following table shows the aging of the Company's trade payables: <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Current</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">2,137</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">67,584</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">>60 days</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">2,137</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">67,584</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Trade payables</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">2,137</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">67,584</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Accrued royalties and taxes</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">1,230,012</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:19%">1,018,737</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Accrued other liabilities</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">48,911</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">38,871</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%">1,281,060</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%">1,125,192</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> </table>

2137

67584

1230012

1018737

48911

38871

1281060

1125192

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:80%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;text-align:justify;background-color:#e6efff">Current</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">2,137</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">67,584</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:justify">>60 days</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:19%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">2,137</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:19%;background-color:#e6efff">67,584</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

2137

67584

2137

67584

9. ASSET RETIREMENT OBLIGATION <div> <div> <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Balance, beginning of year</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#e6efff">99,514</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#e6efff">93,343</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Change in obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%">(13,886</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%">6,171</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Accretion expense</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;padding-left:18pt;text-indent:-18pt">Balance, end of year</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:22%">85,628</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:22%">99,514</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div> </div> The Company has a legal obligation associated with its mineral properties for clean up costs when work programs are completed. Most of the cash will be spent to return the grade of disturbed land to its original state and to plant vegetation. The rehabilitation obligation is estimated at $85,628 and $99,514 at December 31, 2023 and 2022, respectively. During 2023 and 2022, the obligation was estimated based on actual reclamation cost experience on an average per acre basis and the remaining acres to be reclaimed. It is expected that this obligation will be funded from general Company resources at the time the costs are incurred. The Company has been required by the Ghanaian government to post a bond of $296,322 which has been recorded in restricted cash. </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width:60%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Balance, beginning of year</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#e6efff">99,514</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;text-align:right;width:22%;background-color:#e6efff">93,343</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt">Change in obligation</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%">(13,886</td> <td style="vertical-align:bottom;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:22%">6,171</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Accretion expense</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:22%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;padding-left:18pt;text-indent:-18pt">Balance, end of year</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:22%">85,628</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:22%">99,514</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%"> </td> </tr> </table> </div>

99514

93343

13886

-6171

85628

99514

85628

99514

296322

<div> 10. CAPITAL STOCK <div> <div> Authorized stock The Company's authorized shares are 250,000,000 common shares with a par value of $0.001 per share. Issuances of shares The Company did not issue shares during the years ended December 31, 2023 and 2022. Cancellation of shares During the year ended December 31, 2023, a total of 234,200 common shares were re-purchased for $150,582 and were cancelled. A further total of 11,500 common shares that were re-purchased in 2022 for $6,892 were cancelled in 2023. A total of 28,500 common shares were re-purchased in 2023 for $20,744 and held in treasury. These 28,500 shares were cancelled in January 2024. During the year ended December 31, 2022, a total of 223,000 common shares were re-purchased for $156,249 and cancelled. A further total of 17,600 common shares were re-purchased in 2021 for $13,294 were cancelled in 2022. A total of 11,500 common shares were re-purchased for $6,892 and held in treasury. These 11,500 shares were cancelled in January 2023. Stock options At June 30, 2011, the Company adopted a new 10% rolling stock option plan (the "2011 Plan") and cancelled the 2005 equity compensation plan. Pursuant to the 2011 Plan, the Company is entitled to grant options and reserve for issuance up to 10% of the shares issued and outstanding at the time of grant. The terms and conditions of any options granted, including the number and type of options, the exercise period, the exercise price and vesting provisions, are determined by the Compensation Committee which makes recommendations to the board of directors for their approval. The maximum term of options granted cannot exceed 20 years. The TSX's rules relating to security-based compensation arrangements require that every three years after the institution of a security-based compensation arrangement which does not have a fixed maximum aggregate of securities issuable, all unallocated options must be approved by a majority of the Company's directors and by the Company's shareholders. The Board approved all unallocated options under the Option Plan on May 5, 2023 which was approved by the Company's shareholders at the annual and special meeting held on June 29, 2023. <div style="margin-top:0pt;margin-bottom:0pt"> <div style="margin-top:0pt;margin-bottom:0pt"></div> </div> At December 31, 2023, the following stock options were outstanding: <div style="margin-left:36pt;margin-top:0pt;margin-bottom:0pt"> <div style="margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td colspan="2" style="width:24%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Number of Options </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Exercise Price </td> <td colspan="2" style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Expiry Date </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td colspan="2" style="width:24%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="2" style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 382,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.15 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> December 31, 2032 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 54,000 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$0.60 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> June 1, 2040 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 250,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.20 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> October 8, 2035 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 360,000 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$1.23 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> October 23, 2040 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 400,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.40 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> May 5, 2036 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 690,000 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$0.30 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> July 1, 2037 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 450,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.81 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> December 14, 2042 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 62,500 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$0.92 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> April 27, 2043 </td> </tr> </table> </div> </div> Stock option transactions and the number of stock options outstanding are summarized as follows: <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:75%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td colspan="2" style="width:23%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">December 31, 2023</td> <td colspan="2" style="width:23%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">December 31, 2022</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Number of Options</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted Average Exercise Price</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Number of Options</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted Average Exercise Price</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:justify">Outstanding, beginning of year</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">2,586,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.37</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">2,381,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.36</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">Granted</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">62,500</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center">CAD 0.92</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">450,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center">CAD 0.81</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:justify">Exercised</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:right">-</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:center">-</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:right">-</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:center">-</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify">Cancelled/Expired</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">-</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center">-</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">(245,000)</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center">CAD 0.69</td> </tr> <tr> <td style="background-color:#e6efff;width:20%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:justify">Outstanding, end of year</td> <td style="background-color:#e6efff;width:13%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">2,648,500</td> <td style="background-color:#e6efff;width:8%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.39</td> <td style="background-color:#e6efff;width:12%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">2,586,000</td> <td style="background-color:#e6efff;width:8%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.37</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:center"> </td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:center"> </td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:justify">Exercisable, end of year</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:right">2,648,500</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:center">CAD $ 0.39</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:right">2,586,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:center">CAD $ 0.37</td> </tr> </table> </div> </div> The aggregate intrinsic value for options vested and for total options as of December 31, 2023 and 2022 respectively, is approximately $1,115,000 and $786,600. The weighted average contractual term of stock options outstanding and exercisable as at December 31, 2023 and 2022 respectively, is 10.7 years and 11.7 years. The fair value of stock options granted, vested, and modified during the years ended December 31, 2023, 2022 and 2021 respectively, was $23,750, $237,078, and $2,504 which has been included in general and administrative expense. The following assumptions were used for the Black-Scholes valuation of stock options granted or amended during the years ended December 31, 2023, 2022, and 2021: <div style="margin-left:36pt;margin-top:0pt;margin-bottom:0pt"> <div style="margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000"> </td> <td style="width:17%;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> 2023 </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> 2022 </td> <td style="width:17%;vertical-align:bottom;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> 2021 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:17%;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> Risk-free interest rate </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 3.00% </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 1.75% </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 1.75% </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt"> Expected life </td> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 5.0 years </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 5.0 years </td> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 3.0 years </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> Annualized volatility </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 64% </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 68% </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 70% </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:2.25pt double #000000"> Dividend rate </td> <td style="width:17%;vertical-align:top;border-bottom:2.25pt double rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> - </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:2.25pt double rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> - </td> <td style="width:17%;vertical-align:top;border-bottom:2.25pt double rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> - </td> </tr> </table> </div> </div> On April 27, 2023 the Company granted 62,500 options to insiders at $0.68 (CAD$0.92) and recognized an expense of $23,750 as the options vested immediately. On December 14, 2022 the Company granted 350,000 options to insiders at $0.60 (CAD$0.81) and recognized an expense of $120,563. A further 100,000 options were granted to non-insiders at $0.60 (CAD$0.81) and an expense of $34,447 was recognized. On July 1, 2022, the original terms of existing options were extended. The Company recognized an expense of $77,092 related to the extension of the option terms to maturity. Options granted to consultants were market-to-market until expiry and the Company recognized an expense in 2022 of $4,976. <div></div> The Company did not issue stock options during the years ended December 31, 2021. Warrants At December 31, 2023 and 2022, there were no warrants outstanding. </div> </div> </div>

250000000

0.001

234200

150582

11500

6892

28500

20744

28500

223000

156249

17600

13294

11500

6892

11500

0.10

P20Y

<div style="margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td colspan="2" style="width:24%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Number of Options </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Exercise Price </td> <td colspan="2" style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> Expiry Date </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td colspan="2" style="width:24%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td colspan="2" style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 382,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.15 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> December 31, 2032 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 54,000 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$0.60 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> June 1, 2040 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 250,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.20 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> October 8, 2035 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 360,000 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$1.23 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> October 23, 2040 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 400,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.40 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> May 5, 2036 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 690,000 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$0.30 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> July 1, 2037 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 450,000 </td> <td style="width:8%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> CDN$0.81 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> December 14, 2042 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 62,500 </td> <td style="width:8%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:33%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> CDN$0.92 </td> <td style="width:7%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt"> April 27, 2043 </td> </tr> </table> </div>

382000

0.15

2032-12-31

54000

0.6

2040-06-01

250000

0.2

2035-10-08

360000

1.23

2040-10-23

400000

0.4

2036-05-05

690000

0.3

2037-07-01

450000

0.81

2042-12-14

62500

0.92

2043-04-27

<div> <table cellpadding="0" cellspacing="0" style="width:75%;border-collapse:collapse;font-size:10pt"> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td colspan="2" style="width:23%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">December 31, 2023</td> <td colspan="2" style="width:23%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">December 31, 2022</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify"> </td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Number of Options</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted Average Exercise Price</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Number of Options</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:middle;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;white-space:nowrap;text-align:center">Weighted Average Exercise Price</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:justify">Outstanding, beginning of year</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">2,586,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.37</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:right">2,381,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;background-color:#e6efff;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.36</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:justify">Granted</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">62,500</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center">CAD 0.92</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:right">450,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;text-align:center">CAD 0.81</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:justify">Exercised</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:right">-</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:center">-</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:right">-</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;text-align:center">-</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:justify">Cancelled/Expired</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">-</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center">-</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:right">(245,000)</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:0.75pt solid #000000;text-align:center">CAD 0.69</td> </tr> <tr> <td style="background-color:#e6efff;width:20%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:justify">Outstanding, end of year</td> <td style="background-color:#e6efff;width:13%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">2,648,500</td> <td style="background-color:#e6efff;width:8%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.39</td> <td style="background-color:#e6efff;width:12%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:right">2,586,000</td> <td style="background-color:#e6efff;width:8%;vertical-align:top;border-bottom:2.25pt double #000000;padding-right:5.4pt;padding-left:5.4pt;border-top:0.75pt solid #000000;text-align:center">CAD $ 0.37</td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:center"> </td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:justify"> </td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-top:2.25pt double #000000;text-align:center"> </td> </tr> <tr> <td style="width:20%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:justify">Exercisable, end of year</td> <td style="width:13%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:right">2,648,500</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:center">CAD $ 0.39</td> <td style="width:12%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:right">2,586,000</td> <td style="width:8%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:#e6efff;border-bottom:2.25pt double #000000;text-align:center">CAD $ 0.37</td> </tr> </table> </div>

2586000

0.37

2381000

0.36

62500

0.92

450000

0.81

245000

0.69

2648500

0.39

2586000

0.37

2648500

0.39

2586000

0.37

1115000

786600

P10Y8M12D

P11Y8M12D

23750

237078

2504

<div style="margin-top:0pt;margin-bottom:0pt"> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;margin-top:0pt;margin-bottom:0pt"> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000"> </td> <td style="width:17%;vertical-align:top;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> 2023 </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> 2022 </td> <td style="width:17%;vertical-align:bottom;border-top:2.25pt double rgb(0, 0, 0);border-bottom:0.75pt solid rgb(0, 0, 0);white-space:nowrap;margin-top:0pt;margin-bottom:0pt"> 2021 </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"> </td> <td style="width:17%;vertical-align:bottom;margin-top:0pt;margin-bottom:0pt"> </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> Risk-free interest rate </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 3.00% </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 1.75% </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 1.75% </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt"> Expected life </td> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 5.0 years </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 5.0 years </td> <td style="width:17%;vertical-align:top;margin-top:0pt;margin-bottom:0pt"> 3.0 years </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;background-color:#e6efff"> Annualized volatility </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 64% </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 68% </td> <td style="width:17%;vertical-align:top;background-color:rgb(230, 239, 255);margin-top:0pt;margin-bottom:0pt"> 70% </td> </tr> <tr style="margin-top:0pt;margin-bottom:0pt"> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:2.25pt double #000000"> Dividend rate </td> <td style="width:17%;vertical-align:top;border-bottom:2.25pt double rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> - </td> <td style="width:15%;padding-right:5.4pt;padding-left:5.4pt;vertical-align:top;border-bottom:2.25pt double rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> - </td> <td style="width:17%;vertical-align:top;border-bottom:2.25pt double rgb(0, 0, 0);margin-top:0pt;margin-bottom:0pt"> - </td> </tr> </table> </div>

0.03

0.0175

P5Y

P3Y

0.64

0.68

0.70

62500

0.68

0.92

23750

350000

0.6

0.81

120563

100000

0.6

0.81

34447 77092 4976

<div> 11. RELATED PARTY TRANSACTIONS <div> <div> During the years ended December 31, 2023, 2022 and 2021, the Company entered into the following transactions with related parties: <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #000000;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2021</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Consulting fees paid or accrued to officers or their companies</td> <td style="vertical-align:top;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:top;text-align:right;width:17%;background-color:#e6efff">1,035,063</td> <td style="vertical-align:top;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:top;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:top;text-align:right;width:17%;background-color:#e6efff">909,314</td> <td style="vertical-align:top;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:top;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:top;text-align:right;width:17%;background-color:#e6efff">1,124,304</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Directors' fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%">2,223</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%">2,308</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%">2,398</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Stock option grants to officers and directors</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">23,750</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">120,563</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Stock option grant price range</td> <td colspan="1" style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff">CAD$0.92</td> <td colspan="1" style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff">CAD$0.81</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:17%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> </table> </div> </div> Of the total consulting fees noted above, $720,442, $691,435, and $772,494 for the years ended December 31, 2023, 2022, and 2021 respectively, was incurred by the Company to a private company of which a related party is a 50% shareholder and director. The related party was entitled to receive $360,221 and $345,717, and $386,247 of this amount for the years ended December 31, 2023, 2022, and 2021, respectively. As at December 31, 2023 and 2022 respectively, a balance of $152,415 and a prepaid balance of $181,973 exists to this related company and $Nil remains payable in all years to the related party for expenses earned for work on behalf of the Company. The CEO of the company made a $50,000 payment on behalf of the company in 2021. This balance was repaid in 2022. During 2023, the Company granted 62,500 options to insiders at a price of $0.68 (CAD$0.92). A total of $23,750 was included in consulting fees related to these options. During 2022, the Company granted 350,000 options to insiders at a price of $0.60 (CAD$0.81). A total of $120,563 was included in consulting fees related to these options. On July 1, 2022, the original terms of existing options were extended. The Company recognized an expense of $77,092 related to the extension of the option terms to maturity related to insiders. During 2021 the Company did not grant stock options to insiders. </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="margin-top:0pt;margin-bottom:0pt;border-bottom:0.75pt solid #000000;vertical-align:bottom"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;white-space:nowrap">December 31, 2021</td> <td colspan="1" style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Consulting fees paid or accrued to officers or their companies</td> <td style="vertical-align:top;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:top;text-align:right;width:17%;background-color:#e6efff">1,035,063</td> <td style="vertical-align:top;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:top;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:top;text-align:right;width:17%;background-color:#e6efff">909,314</td> <td style="vertical-align:top;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:top;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:top;text-align:right;width:17%;background-color:#e6efff">1,124,304</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Directors' fees</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%">2,223</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%">2,308</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%">2,398</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom">Stock option grants to officers and directors</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">23,750</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">120,563</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:17%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff">Stock option grant price range</td> <td colspan="1" style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td colspan="1" style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff">CAD$0.92</td> <td colspan="1" style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:17%;background-color:#e6efff">CAD$0.81</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:1%;text-align:left;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:17%;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;width:2%;text-align:left;background-color:#e6efff"> </td> </tr> </table> </div>

1035063

909314

1124304

2223

2308

2398

23750

120563

0.92

0.81

720442

691435

772494

360221 345717 386247

152415

181973

0 0

50000

62500

0.68

0.92

23750

350000

0.6

0.81

120563

77092

<div> <div> <div> 12. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS <div> <div> <div style="margin-left:36pt"> <div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2021</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash paid during the period for:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:35.3pt;text-indent:-18pt">Interest</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;padding-left:35.3pt;text-indent:-18pt;background-color:#e6efff">Income taxes</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:17%;background-color:#e6efff">650,540</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:17%;background-color:#e6efff">581,263</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:17%;background-color:#e6efff">288,192</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> During the years ended December 31, 2023, 2022 and 2021 respectively, the Company paid $650,540, $581,263, and $288,192 related to income tax in the current and prior periods and accrued a further $700,000, $800,000, and $720,000 in the years ended December 31, 2023, 2022, and 2021 respectively, for expected income tax payments related to activities in Ghana. There were no other significant non-cash transactions during the years ended December 31, 2023, 2022, or 2021. </div> </div> </div> </div> </div>

<div> <table cellpadding="0" cellspacing="0" style="width:80%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2023</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2022</td> <td colspan="1" style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">December 31, 2021</td> <td style="vertical-align:bottom;border-top:2.25pt double #000000;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="vertical-align:bottom;text-align:right"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:18pt;text-indent:-18pt;background-color:#e6efff">Cash paid during the period for:</td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> <td style="margin-top:0pt;margin-bottom:0pt;vertical-align:bottom;background-color:#e6efff"> </td> </tr> <tr> <td style="vertical-align:bottom;padding-left:35.3pt;text-indent:-18pt">Interest</td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%">$</td> <td style="vertical-align:bottom;text-align:right;width:17%">-</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;padding-left:35.3pt;text-indent:-18pt;background-color:#e6efff">Income taxes</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:17%;background-color:#e6efff">650,540</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:17%;background-color:#e6efff">581,263</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:right;width:17%;background-color:#e6efff">288,192</td> <td style="vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div>

650540

581263

288192

650540

581263

288192

700000

800000

720000

<div> <div> <div> 13. DEFERRED INCOME TAXES On November 30, 2012, the Company changed its residency address from the USA to the British Virgin Islands("BVI"). The Company has no presence/nexus within the United States of America, nor any of its States and therefore is not required to file Income/Franchise, etc. tax returns in the United States of America, nor any of its States. The Company is not subject to any corporate income tax in the BVI. In Ghana, the Company is subject to a 35% income tax rate. </div> </div> <div> <div> <div style="margin-left:36pt"> <div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2021</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Pre tax income</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">876,539</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,564,849</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,045,713</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Tax at the BVI rate 0%</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Tax in Ghana at 35%</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">933,918</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">745,787</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">806,761</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12,082</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(6,043</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Temporary differences</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(84,185</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">60,256</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">281,431</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Income tax</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">861,815</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">800,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,088,192</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div> </div> <div> <div> In evaluating the ability to recover the deferred tax assets within the jurisdiction from which they arise, the Company considered all available positive and negative evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. In projecting future taxable income, the Company began with historical results adjusted for changes in accounting policies and incorporates assumptions including the amount of future pretax operating income, the reversal of temporary differences, and the implementation of feasible and prudent tax planning strategies. These assumptions require significant judgment about the forecasts of future taxable income and are consistent with the plans and estimate the Company are using to manage the underlying businesses. In evaluating the objective evidence that historical results provide, the Company considers three years of cumulative operating income. A reconciliation of the Ghana income tax to our effective income tax is as follows: <div style="margin-left:36pt"> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2021</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Tax in Ghana at 35%</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">933,918</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">745,787</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">806,761</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Accrual for tax - current year</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">133,918</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(54,213</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,671</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Unaccrued tax payments related to previous years</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(61,815</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Differences, current year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">72,103</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(54,213</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,671</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Cumulative differences, prior year</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(47,452</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">6,671</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Cumulative differences, current year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">24,651</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(47,452</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,671</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Valuation allowance</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(24,651</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">47,452</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(6,671</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total deferred income tax asset (liability)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> The Company recognizes valuation allowances to reduce deferred tax assets and liabilities to the amount that is more likely than not to be realized. The Company's net deferred income tax asset is not more likely than not to be realized due to the lack of sufficient sources of future taxable income and cumulative losses that have resulted over the years. During the year ended December 31, 2023 the valuation allowance was reduced by $72,103 to $24,651. </div> </div> </div> </div> </div>

0.35

<div> <div> <table cellpadding="0" cellspacing="0" style="width:100%;border-collapse:collapse;font-size:10pt;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2021</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Pre tax income</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">876,539</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,564,849</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">2,045,713</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%"> </td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Tax at the BVI rate 0%</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Tax in Ghana at 35%</td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">933,918</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">745,787</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;text-align:right;width:12%">806,761</td> <td style="vertical-align:bottom;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Other</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">12,082</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">(6,043</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Temporary differences</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(84,185</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">60,256</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">281,431</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Income tax</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">861,815</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">800,000</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">1,088,192</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table> </div> </div>

876539 1564849 2045713

0.35

933918

745787

806761

12082

-6043

-84185

60256

281431

861815

800000

1088192

<table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-size:10pt;width:100%;border-color:#000000"> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2023</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2022</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center;white-space:nowrap">2021</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:center"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Tax in Ghana at 35%</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">933,918</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">745,787</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">806,761</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Accrual for tax - current year</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">800,000</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">133,918</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(54,213</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,671</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Unaccrued tax payments related to previous years</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(61,815</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Differences, current year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">72,103</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(54,213</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,671</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Cumulative differences, prior year</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(47,452</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">6,671</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">-</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Cumulative differences, current year</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">24,651</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">(47,452</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff">)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">6,671</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify">Valuation allowance</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(24,651</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">47,452</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:1%"> </td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:right;width:12%">(6,671</td> <td style="vertical-align:bottom;border-bottom:0.75pt solid #000000;text-align:left;width:2%">)</td> </tr> <tr> <td style="padding-right:5.4pt;padding-left:5.4pt;vertical-align:bottom;text-align:justify;background-color:#e6efff">Total deferred income tax asset (liability)</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:1%;background-color:#e6efff">$</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:right;width:12%;background-color:#e6efff">-</td> <td style="vertical-align:bottom;border-top:0.75pt solid #000000;border-bottom:0.75pt solid #000000;text-align:left;width:2%;background-color:#e6efff"> </td> </tr> </table>

0.35

933918

745787

806761

800000

133918

-54213

6671

-61815

72103

-54213

6671

-47452

6671

24651 -47452 6671

-24651

47452

-6671

72103

24651

<div> <div> <div> <div> <div> 14. COMMITMENTS AND CONTINGENCIES a) Bond deposit The Company has been required by the Ghanaian government to post an environmental bond of US$296,322 which has been recorded in restricted cash (see Note 9). b) Litigation From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise, in the ordinary course of business. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm the Company's business. The Company is not aware of any such legal proceedings other than disclosed below that will have, individually or in the aggregate, a material adverse effect on its business, financial condition or operating results. <div> <div></div> </div> The Company is a party to two pending lawsuits. One lawsuit claims additional funds of GHC90,000 (approximately US$9,000) from local government for an annual business operating permit. Another lawsuit claims that workers were terminated unlawfully. The Company will defend itself in each of these lawsuits if required, and believes both cases are completely without merit and frivolous. The Company is subject to additional legal proceedings and claims which arise in the ordinary course of its business. Although occasional adverse decisions or settlements may occur, the Company believes that the final disposition of such matters should not have a material adverse effect on its financial position, results of operations or liquidity. On October 19, 2022, Minerals Commission issued five invoices totaling $11,714,800 to our Ghanaian subsidiary. These invoices were titled "Outstanding Annual Mineral Right Fees" for all five of our concessions (Kwabeng, Pameng, Apapam, Muoso and Banso), which Minerals Commission indicated were related to the period from 2012 to 2022, for new annual mineral fees. However, all of our mining leases all have a one-time fixed consideration fee, which was paid when our leases were granted. Our legal counsel responded to Minerals Commission (the "Letters") on November 15, 2019, objecting to the five improper invoices. Our Letters outline the specific violated terms of our leases and various mineral laws. The Minerals Commission has not responded to our Letters. Should Minerals Commission challenge our Letters, our Company could enter dispute resolution arbitration clause under the Mineral Act. We believe the invoices are not legally enforceable under the Mineral Act, and have not included any amount related to these invoices in our accounts. Ghana Revenue Agency ("GRA") sent our Ghanaian subsidiary an updated tax assessment letter on May 11, 2023. The letter alleges a total tax liability of $1,186,701 (the "Assessment"), from 2012 to 2022. Upon a thorough review of the Assessment, we agreed that the only additional liability in the Assessment was $356,281. The balance of the Assessment was objected to by our company in letter dated June 13, 2023, (the "Objection Letter"). To date, GRA has not responded to our Objection Letter, and our company believes it has settled all amounts owing in the Assessment. (c) Credit risk Financial instruments that are potentially subject to credit risk consist principally of trade receivables. The Company believes the concentration of credit risk in its trade receivables is substantially mitigated by its ongoing credit evaluation process and relatively short collection terms. The Company does not generally require collateral from customers. The Company evaluates the need for an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. (d) Exchange rate risk The functional currency of the Company is US$, to date the majority of the revenues and costs are denominated in Ghana and a significant portion of the assets and liabilities are denominated in both Canada and Ghana. As a result, the Company is exposed to foreign exchange risk as its revenues and results of operations may be affected by fluctuations in the exchange rate between US$ and Ghana currency. If Ghana depreciates against US$, the value of Ghana revenues and assets as expressed in US$ financial statements will decline. The Company does not hold any derivative or other financial instruments that expose to substantial market risk. (e) Economic and political risks The Company's operations are conducted in Ghana. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environment in Ghana, and by the general state of the Ghana economy. The Company's operations in the Ghana are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company's results may be adversely affected by changes in the political and social conditions in Ghana, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. <div> <div></div> </div> f) Commodity price risk We are exposed to fluctuations in commodity prices for gold. Commodity prices are affected by many factors, including but not limited to, supply and demand. g) The minerals properties lease status is as follows: -Apapam Lease expired on December 17th 2015, and extension was submitted on June 17th 2015; -Kwabeng and Pameng Leases expired on July 26th 2019, and extensions were submitted on June 13th 2018; -Muoso Lease expired on January 5th 2024, and extension was submitted on June 12th 2023; and -Banso Lease does not expire until Jan. 5th 2025. On all the above extensions the company requested a further 15 year extension to each lease, and the old leases are fully in force until the new leases are granted by the government. All required documentation to extend the lease for our Kibi Project (formerly known as the Apapam Project) for 15 years from December 17, 2015 has been submitted to the Ghana Minerals Commission. No additional information was requested or submitted in the year ended December 31, 2023. As of these extensions generally take years for the regulatory review to be completed, and the Company is not yet in receipt of the renewal extension approval. However, until the Company receives the renewal extension approval, the old lease remains in force under the mineral laws. The renewal extension is in accordance with the terms of application and payment of fees to the Minerals Commission. </div> </div> </div> </div> </div>

296322

90000

9000

11714800 1186701 356281

P15Y

28500

74000

53800

20200

4000000