9. INCOME TAXES

Income tax expense differs from the amount that would result from applying Canadian income tax rates to earnings before income taxes. These differences result from the following items:

		Year ended
		December 31,			December 31,
		2024			2023
Loss before income taxes	$	(5,424	)	$	(4,476	)
Canadian federal and provincial income tax rates		27.00%			27.00%
Income tax recovery based on the above rates		(1,464	)		(1,209	)
Difference between Canadian and foreign tax rate		(128	)		(323	)
Permanent differences		890			1,490
Changes in unrecognized deferred tax assets		761			814
Other adjustments		(7	)		589
Total income tax expense	$	52		$	1,361

Current income tax expense	$	52		$	1,227
Deferred income tax expense	$	-		$	134

The composition of the Company's net deferred income tax liability that has been recognized is as follows:

		As at
		December 31,			December 31,
		2024			2023
Deferred tax assets:
Mineral expenditures and capital assets	$	2,060		$	3,184
Share issue costs		455			828
Non-capital losses and others		12,651			9,609
		15,166			13,621
Unrecognized deferred tax assets		(10,688	)		(12,696	)
Deferred tax liabilities		(4,909	)		(1,356	)
Net deferred income tax liabilities	$	(431	)	$	(431	)

Deferred income tax assets	$	105		$	105
Deferred income tax liabilities	$	(536	)	$	(536	)

The Company's significant temporary differences, unused tax credits, and unused tax losses that have not been recognized as deferred income tax assets as at December 31, 2024, are as follows:

		Mineral
		expenditures				Non-capital
		and other		Share issue		losses and
		capital assets		costs		others		Total
Expiry 2026 to 2043	$	-	$	1,684	$	24,248	$	25,932
No expiry date	$	10,795	$	-	$	6,536	$	17,331

Tax attributes are subject to review, and potential adjustments, by tax authorities.