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EXPLORATION AND EVALUATION ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

EXPLORATION AND EVALUATION ASSETS

Schedule of summary of the carrying costs of acquisition costs and exploration expenditures incurred to date for each exploration and evaluation asset


		Newfoundland
		Queensway⁽ⁱ⁾		Other⁽ⁱⁱ⁾		Ontario⁽ⁱⁱⁱ⁾		Total
Year ended December 31, 2021		$		$		$		$
Exploration and evaluation assets
Balance as at December 31, 2020		685,930		13,100		300,204		999,234
Additions
Acquisition costs		7,444,306		—		—		7,444,306
Claim staking and license renewal costs		106,530		4,600		—		111,130
Disposal of exploration and evaluation assets		(585)		—		—		(585)
Impairment of exploration and evaluation assets		—		—		(28,604)		(28,604)
Balance as at December 31, 2021		8,236,181		17,700		271,600		8,525,481

Exploration and evaluation expenditures
Cumulative exploration expense – December 31, 2020		10,245,545		45,851		1,286,951		11,578,347
Assays		5,611,068		—		53,447		5,664,515
Drilling		19,102,621		—		277,748		19,380,369
Environmental studies		395,015		—		—		395,015
Geophysics		3,257,813		—		374,660		3,632,473
Imagery and mapping		104,665		—		—		104,665
Office and general		512,922		—		1,631		514,553
Property taxes, mining leases and rent		59,997		—		—		59,997
Petrography		—		—		7,996		7,996
Reclamation		335,783		—		732		336,515
Salaries and consulting		6,391,133		12,295		165,863		6,569,291
Supplies and equipment		3,893,748		923		62,338		3,957,009
Technical reports		854,541		—		22,479		877,020
Travel and accommodations		742,796		577		18,641		762,014
Trenching		9,860		—		77,715		87,575
Exploration cost recovery		(77,550)		—		—		(77,550)
		41,194,412		13,795		1,063,250		42,271,457
Cumulative exploration expense – December 31, 2021		51,439,957		59,646		2,350,201		53,849,804

3.	EXPLORATION AND EVALUATION ASSETS (continued)


		Newfoundland
		Queensway ⁽ⁱ⁾		Other⁽ⁱⁱ⁾		Ontario⁽ⁱⁱⁱ⁾		Total
Year ended December 31, 2020		$		$		$		$
Exploration and evaluation assets
Balance as at December 31, 2019		658,700		16,500		425,516		1,100,716
Additions
Acquisition costs		75,000		—		25,000		100,000
Claim staking and license renewal costs		37,230		2,100		3,600		42,930
Disposal of exploration and evaluation assets		(75,000)		(2,750)		—		(77,750)
Impairment of exploration and evaluation assets		(10,000)		(2,750)		(153,912)		(166,662)
Balance as at December 31, 2020		685,930		13,100		300,204		999,234

Exploration and evaluation expenditures
Cumulative exploration expense – December 31, 2019		2,633,775		—		837,133		3,470,908
Assays		848,000		963		209,159		1,058,122
Drilling		2,560,406		—		—		2,560,406
Geochemistry		—		—		5,330		5,330
Geophysics		838,235		—		—		838,235
Office and general		47,130		499		714		48,343
Property taxes, mining leases and rent		46,217		—		5,812		52,029
Reclamation		163,598		—		—		163,598
Salaries and consulting		1,801,863		37,870		115,985		1,955,718
Supplies and equipment		879,816		6,470		80,803		967,089
Travel and accommodations		225,550		49		150		225,749
Trenching		231,635		—		31,865		263,500
Exploration cost recovery		(30,680)		—		—		(30,680)
		7,611,770		45,851		449,818		8,107,439
Cumulative exploration expense – December 31, 2020		10,245,545		45,851		1,286,951		11,578,347

(i)Queensway Project – Gander, Newfoundland