E&E ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

E&E ASSETS

Schedule of property and nature of expenditure

	Kelly		Fourmile		Lone				Stockade
	Creek		Basin		Mountain		Miller		Mountain		Total
Balance - December 31, 2020	$	231,414	$	346,675	$	108,648	$	—	$	—	$	686,737
E&E expenditures:
Acquisition costs		50,000		34,242		30,000		61,702		—		175,944
Consulting		656		21,300		7,236		2,109		—		31,301
Field work		—		1,843		—		—		—		1,843
Finders’ fees		—		—		—		10,000		—		10,000
Geophysics		—		—		—		3,188		—		3,188
Mapping		—		277		188		5,919		—		6,384
Mining rights and claim fees		95,958		54,669		80,370		114,919		—		345,916
Technical reports		1,126		6,120		11,285		—		—		18,531
Travel		—		4,835		—		—		—		4,835
Total E&E expenditures		147,740		123,286		129,079		197,837		—		597,942
Movement in foreign exchange		—		1,477		—		—		—		1,477
Balance - December 31, 2021	$	379,154	$	471,438	$	237,727	$	197,837	$	—	$	1,286,156
E&E expenditures:
Acquisition costs		50,000		54,433		20,000		25,000		25,000		174,433
Assays		24,554		—		—		—		—		24,554
Consulting		12,693		47,007		7,406		7,956		16,329		91,391
Drilling		327,145		96,993		—		—		—		424,138
Field supplies		2,121		—		—		—		2,250		4,371
Field work		1,500		2,332		—		—		—		3,832
Finders’ fees		—		—		—		10,000		—		10,000
Geophysics		3,000		—		—		1,769		—		4,769
Mapping		6,375		—		—		5,250		—		11,625
Mining rights and claim fees		96,333		53,095		80,370		49,749		46,666		326,213
Share-based compensation		5,235		5,233		5,235		5,235		5,235		26,173
Travel		6,769		4,144		—		44		566		11,523
Total E&E expenditures		535,725		263,237		113,011		105,003		96,046		1,113,022
Movement in foreign exchange		—		(30,144)		—		—		—		(30,144)
Balance - December 31, 2022	$	914,879	$	704,531	$	350,738	$	302,840	$	96,046	$	2,369,034

Kelly Creek

E&E ASSETS

Schedule of required minimum annual E&E expenditures on the project / property

September 1, 2022	C$	750,000	(1)	Complete
June 1, 2023	C$	1,000,000		In progress
June 1, 2024	C$	1,500,000		In progress
June 1, 2025	C$	1,500,000		In progress

(1) $400,000 must be spent on geophysics, geochemistry, drilling or other mutually agreed program.

Schedule of advance royalty payments

October 1, 2020	$	20,000		Paid
October 1, 2021	$	20,000		Paid
October 1, 2022	$	20,000		Paid
October 1, 2023 and every year thereafter	$	50,000	(1)

(1) In accordance with the terms of the agreement, the amount will be adjusted for inflation.

October 1, 2020	US$	20,000	(paid)
October 1, 2021	US$	20,000	(paid)
October 1, 2022	US$	20,000
October 1, 2023 and annually thereafter	US$	50,000	(as adjusted for inflation)

Schedule of minimum payments

September 16, 2021	$	30,000	Paid
September 16, 2022	$	30,000	Paid
September 16, 2023 and every year thereafter	$	30,000

Fourmile Basin

E&E ASSETS

Schedule of pre-production payments

June 18, 2020	$	25,000	Paid
		33,333 common shares	Issued
December 18, 2020	$	5,000	Paid
June 18, 2021	$	10,000	Paid
December 18, 2021	$	10,000	Paid
June 18, 2022	$	15,000	Paid
December 18, 2022 and every six months thereafter	$	20,000	Paid

Effective Date	US$	25,000 cash	(paid)
		33,333 Company shares	(issued)
6 months after Effective Date (December 18, 2020)	US$	5,000 cash	(paid)
12 months after Effective Date (June 18, 2021)	US$	10,000 cash	(paid)
18 months after Effective Date (December 18, 2021)	US$	10,000 cash	(paid)
24 months after Effective Date (June 18, 2022)	US$	15,000	cash
30 months after Effective Date and every 6 months thereafter	US$	20,000	cash

Schedule of required minimum annual E&E expenditures on the project / property

Year 1 from date of agreement	$	30,000	Complete
Year 2 to Year 3 from date of agreement	$	50,000	Complete

October 24, 2020	$	5,000	Complete
October 24, 2021	$	10,000	Complete
October 24, 2022	$	15,000	Complete
October 24, 2023	$	20,000	In progress
October 24, 2024 and every year thereafter	$	20,000	In progress

Schedule of advance royalty payments

October 24, 2020	$	10,000	Paid
October 24, 2021	$	15,000	Paid
October 24, 2022	$	20,000	Paid
October 24, 2023 and every year thereafter	$	25,000

October 24, 2020	US$	10,000	(paid)
October 24, 2021	US$	15,000	(paid)
October 24, 2022	US$	20,000
October 24, 2023 and every year thereafter	US$	25,000

Lone Mountain

E&E ASSETS

Schedule of pre-production payments

Signing of the lease	$	80,000	Paid
November 1, 2021	$	30,000	Paid
November 1, 2022	$	20,000	Paid
November 1, 2023	$	20,000
November 1, 2024	$	30,000
November 1, 2025 and every year thereafter(1)	$	30,000

(1) Pre-production payments increase by $10,000 every year after November 1, 2025 to a maximum of $200,000.

Within 5 days of signing the lease	US$	80,000	(paid)
November 1, 2021	US$	30,000	(paid)
November 1, 2022	US$	30,000
November 1, 2023	US$	30,000
November 1, 2024	US$	40,000
November 1, 2025 and each year thereafter		Increasing by US$10,000/year thereafter to a maximum of US$200,000

Schedule of required minimum annual E&E expenditures on the project / property

September 1, 2024	$	150,000	In progress
September 1, 2025	$	250,000	In progress
September 1, 2026	$	300,000	In progress
September 1, 2027	$	300,000	In progress
September 1, 2028	$	400,000	In progress
September 1, 2029(1)	$	400,000	In progress

(1) The work commitment terminates when $1,800,000 has been spent on the property.

Miller

E&E ASSETS

Schedule of annual lease payments

Signing of the lease	$	50,000		Paid
		5,000 common shares		Issued
February 1, 2022	$	25,000		Paid
February 1, 2023	$	25,000		Paid	(1)
February 1, 2024 and every year thereafter	$	30,000	(2)

(1) The amount was paid subsequent to December 31, 2022.

(2) Lease payments of $30,000 are required every year after February 1, 2024, until a total of $500,000 has been paid.

Within 5 days of signing the lease	US$	50,000	(paid)
		5,000 Company shares	(issued)
February 1, 2022	US$	25,000	(subsequently paid)
February 1, 2023	US$	25,000
February 1, 2024 and each year thereafter		US$30,000 until a total of US$500,000 has been paid

Stockade Mountain

E&E ASSETS

Schedule of pre-production payments

May 16, 2022	$	15,000	Paid
November 16, 2022	$	10,000	Paid
May 16, 2023	$	10,000
November 16, 2023	$	15,000
May 16, 2024	$	15,000
November 16, 2024 and every six months thereafter	$	25,000

Schedule of required minimum annual E&E expenditures on the project / property

May 16, 2023	$	30,000	In progress
May 16, 2024		2,000 meters of drilling	In progress