11. INCOME TAXES

Deferred Income Tax Asset

The tax effects of temporary differences between amounts recorded in the Company’s accounts and the corresponding amounts as computed for income tax purposes gives rise to deferred tax assets and liabilities as follows:

		December 31, 2020			December 31, 2019
Royalty interest	$	(1,718	)	$	(1,385	)
Tax loss carryforwards		1,828			3,377
Other		(110	)		115
Total	$	—		$	2,107

As at December 31, 2020, no deferred tax assets are recognized on the following temporary differences as it is not probable that sufficient future taxable profit will be available to realize such assets:

		December 31, 2020		December 31, 2019	Expiry Date Range
Tax loss carryforwards	$	60,699	$	55,849	2026-2040
Exploration and evaluation assets		4,094		410	No expiry
Other		1,557		1,482	No expiry

Income Tax Expense

		December 31, 2020		December 31, 2019
Current tax expense	$	506	$	—
Deferred tax expense (recovery)		2,113		(415	)
	$	2,619	$	(415	)

The provision for income taxes differs from the amount calculated using the Canadian federal and provincial statutory income tax rates of 27% (2019 - 27%) as follows:

		December 31, 2020			December 31, 2019
Expected income tax recovery	$	(914	)	$	(3,844	)
Effect of lower tax rates in foreign jurisdictions		31			942
Permanent differences		876			898
Change in unrecognized deductible temporary differences and other		2,552			1,191
Foreign exchange		74			398
Total	$	2,619		$	(415	)