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EXPLORATION AND EVALUATION ASSETS (Tables)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
E&E ASSETS    
Schedule of exploration and evaluation assets  

    

Kelly 

    

Fourmile 

    

Lone 

    

Miller 

    

Creek

Basin

Mountain

Project

Total

$

 

$

 

$

 

$

 

$

Expenditures:

  

  

  

  

 

Acquisition costs*

66,233

67,120

104,240

237,593

Consulting

24,870

15,406

4,519

44,795

Geology

1,642

1,642

Geophysics

9,642

651

10,293

Mapping

1,889

1,889

Mining rights and claim fees

126,732

128,769

255,501

Reports

40,618

40,618

Share-based compensation

32,567

227,966

32,567

293,100

Travel

1,475

1,475

Total exploration costs

304,193

441,387

141,326

886,906

Movement in foreign exchange

(9,048)

(2,487)

(11,535)

Balance at December 31, 2020

295,145

441,387

138,839

875,371

Expenditures:

  

  

  

  

  

Acquisition costs*

63,000

43,412

37,800

78,300

222,512

Consulting

827

27,004

9,152

2,660

39,643

Field work

2,337

2,337

Finders fees

12,630

12,630

Geophysics

4,016

4,016

Mapping

351

230

7,302

7,883

Mining rights and claim fees

120,907

69,309

101,266

145,189

436,671

Technical reports

1,426

7,759

14,287

23,472

Travel

6,130

6,130

Total exploration costs

186,160

156,302

162,735

250,097

755,294

Movement in foreign exchange

32

461

885

1,378

Balance at December 31, 2021

481,337

597,689

302,035

250,982

1,632,043

*Acquisition costs includes pre-production payments, lease payments, and advanced royalty payments

Kelly Creek    
E&E ASSETS    
Schedule of minimum expenditures to be incurred for exploration and development works  

    

Original

    

Amended

 

September 1, 2021

$

1,000,000

$

nil

June 1, 2022

$

1,000,000

$

nil

September 1, 2022

$

nil

$

750,000

*

June 1, 2023

$

1,500,000

$

1,000,000

June 1, 2024

$

1,500,000

$

1,500,000

June 1, 2025

$

nil

$

1,500,000

*$400,000 of which 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)

Fourmile Basin    
E&E ASSETS    
Schedule of minimum expenditures to be incurred for exploration and development works  

Year 1 from Effective Date

    

US$

30,000

(fulfilled)

Year 2 to Year 3 from Effective Date

 

US$

50,000

($34,000 fulfilled as at December 31, 2021)

October 24, 2020

    

US$

5,000

(fulfilled)

October 24, 2021

 

US$

10,000

(fulfilled)

October 24, 2022

 

US$

15,000

(fulfilled)

October 24, 2023

 

US$

20,000

(US$10,000 fulfilled)

October 24, 2024 and every year thereafter

 

US$

20,000

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

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

Lone Mountain    
E&E ASSETS    
Schedule of minimum expenditures to be incurred for exploration and development works  

    

Original

    

Amended

September 1, 2021

 

US$

150,000

 

US$

nil

September 1, 2022

 

US$

250,000

 

US$

400,000

September 1, 2023

 

US$

300,000

 

US$

300,000

September 1, 2024

 

US$

300,000

 

US$

300,000

September 1, 2025

 

US$

400,000

 

US$

400,000

September 1, 2026

 

US$

400,000

 

US$

400,000

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

Miller Project    
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