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Note 10 - Rehabilitation Provisions

12 Months Ended

Nov. 30, 2021

Statement Line Items [Line Items]

Disclosure of other provisions, contingent liabilities and contingent assets [text block]

10.

Rehabilitation Provisions

The Whistler Project's exploration activities are subject to the State of Alaska's laws and regulations governing the protection of the environment. The Whistler Project rehabilitation provision is valued under the following assumptions:

		November 30,				November 30,
		2021				2020
Undiscounted amount of estimated cash flows (US$)			235,000				235,000
Life expectancy (years)			4				5
Inflation rate			6.90	%			1.20	%
Discount rate			0.81	%			0.36	%

In July 2017, the Company acquired the Yellowknife Project and assumed a provision for reclamation of $489,818 related to the restoration of the camp sites. The Yellowknife Project rehabilitation provision is expected to be settled in October 2023 and is valued under the following assumptions:

		November 30,				November 30,
		2021				2020
Undiscounted amount of estimated cash flows (CAD$)			490,000				490,000
Life expectancy (years)			2				3
Inflation rate			4.90	%			0.80	%
Discount rate			0.98	%			0.29	%

The following table summarizes the movements in the rehabilitation provisions:

		November 30,				November 30,
		2021				2020
			($)				($)
Balance at the beginning of year			815,828				816,694
Accretion			3,735				13,190
Change in estimate			83,328				(7,036	)
Foreign currency translation adjustments			(3,062	)			(7,020	)
Total			899,829				815,828