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INCOME TAXES | 12 Months Ended
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Dec. 31, 2021
INCOME TAXES |
| 16. | INCOME TAXES
A reconciliation of the expected income tax recovery to the actual income tax recovery is as follows: (All amounts in tables are expressed in thousands of Canadian dollars) SCHEDULE OF RECONCILIATION OF EXPECTED INCOME TAX RECOVERY TO ACTUAL INCOME TAX RECOVERY
|  | Year ended December 31, 2021 |  |  | Year ended December 31, 2020 |
Net loss |  | $ | (3,996 | ) |  | $ | (2,741 | )
Statutory tax rate |  |  | 27 | % |  |  | 27 | %
Expected income tax recovery at the statutory tax rate |  |  | (1,079 | ) |  |  | (740 | )
Permanent differences and other |  |  | 479 |  |  |  | 222 |
Change in valuation allowance |  |  | 600 |  |  |  | 518 |
Net deferred income tax recovery |  | $ | - |  |  | $ | - |
The significant components of the Company’s deferred income tax assets and liabilities are as follows: SCHEDULE OF SIGNIFICANT COMPONENTS OF DEFERRED INCOME TAX ASSETS AND LIABILITIES
|  | Year ended December 31, 2021 |  |  | Year ended December 31, 2020 |
Exploration and evaluation assets |  | $ | 7,209 |  |  | $ | 7,198 |
Loss carry-forwards |  |  | 5,351 |  |  |  | 4,878 |
Share issuance costs |  |  | 84 |  |  |  | 175 |
Cumulative eligible capital |  |  | - |  |  |  | 34 |
Investment |  |  | 81 |  |  |  | 35 |
Equipment |  |  | 273 |  |  |  | 102 |
|  |  | 13,022 |  |  |  | 12,422 |
Valuation allowance |  |  | (13,022 | ) |  |  | (12,422 | )
Net deferred tax asset |  | $ | - |  |  | $ | - |
Notes to the Consolidated Financial Statements For the year ended December 31, 2021 (Expressed in Canadian dollars) The tax pools relating to these deductible temporary differences expire as follows: SCHEDULE OF TAX POOLS RELATING TO DEDUCTIBLE TEMPORARY DIFFERENCES AND THEIR EXPIRATIONS
|  | Canadian non-capital losses |  |  | Canadian net-capital losses |  |  | Canadian resource pools |  |  | Canadian share issue costs |
2022 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 227 |
2023 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 112 |
2024 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 43 |
2030 |  |  | 696 |  |  |  | - |  |  |  | - |  |  |  | 18 |
2031 |  |  | 517 |  |  |  | - |  |  |  | - |  |  |  | - |
2032 |  |  | 645 |  |  |  | - |  |  |  | - |  |  |  | - |
2033 |  |  | 847 |  |  |  | - |  |  |  | - |  |  |  | - |
2034 |  |  | 1,484 |  |  |  | - |  |  |  | - |  |  |  | - |
2035 |  |  | 2,141 |  |  |  | - |  |  |  | - |  |  |  | - |
2036 |  |  | 2,213 |  |  |  | - |  |  |  | - |  |  |  | - |
2037 |  |  | 2,637 |  |  |  | - |  |  |  | - |  |  |  | - |
2038 |  |  | 2,656 |  |  |  | - |  |  |  | - |  |  |  | - |
2039 |  |  | 2,583 |  |  |  | - |  |  |  | - |  |  |  | - |
2040 |  |  | 1,682 |  |  |  | - |  |  |  | - |  |  |  | - |
2041 |  |  | 1,503 |  |  |  | - |  |  |  | - |  |  |  | - |
No expiry |  |  | - |  |  |  | 58 |  |  |  | 65,799 |  |  |  | - |
|  | $ | 19,604 |  |  | $ | 58 |  |  | $ | 65,799 |  |  |  | 400 |

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- Definition The entire disclosure for income taxes. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 12 -IssueDate 2021-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=12&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IAS12_g79-88_TI -URIDate 2021-03-24 + Details
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