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Consolidated Statements of Cash Flows
8 Months Ended 12 Months Ended
Dec. 31, 2020
CAD ($)
Dec. 31, 2021
CAD ($)
Cash flows used in operating activities    
Net loss for the year $ (2,070,249) $ (502,779)
Items not affecting cash:    
Depreciation 576 980
Foreign exchange loss 10,867 2,904
Unrealized loss on marketable securities 73,891 136,197
Realized gain on marketable securities   (8,075)
Share-based compensation 1,807,450  
Total items not affecting cash (177,465) (370,773)
Changes in non-cash operating working capital:    
Increase in prepaid expenses (624) (4,035)
Increase in GST receivable (3,133) (8,297)
Increase in accounts payable and accrued liabilities 33,784 39,470
Net cash used in operating activities (147,438) (343,635)
Cash flows used in investing activities    
Purchase of fixed assets (3,841)  
Payment for marketable securities (500,000)  
Proceeds from sale of marketable securities   48,425
Payments for mineral property activities (587,596) (738,916)
Net cash used in investing activities (1,091,437) (690,491)
Cash flows from financing activities    
Gross proceeds 3,660,671  
Net cash generated by financing activities 3,660,671  
Decrease in cash and cash equivalents for the year 2,421,796 (1,034,126)
Cash and cash equivalents, beginning of year   2,421,796
Cash and cash equivalents, end of year 2,421,796 1,387,670
Non-cash investing and financing activities:    
Common shares issued for exploration and evaluation assets 13,587 $ 15,000
Share-based compensation capitalized to exploration and evaluation assets $ 293,100