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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

SCHEDULE OF RECONCILIATION OF EXPECTED INCOME TAX RECOVERY TO ACTUAL INCOME TAX RECOVERY

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)

		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		$	-			$	-

SCHEDULE OF SIGNIFICANT COMPONENTS OF DEFERRED INCOME TAX ASSETS AND LIABILITIES

The significant components of the Company’s deferred income tax assets and liabilities are as follows:

		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		$	-			$	-

SCHEDULE OF TAX POOLS RELATING TO DEDUCTIBLE TEMPORARY DIFFERENCES AND THEIR EXPIRATIONS

The tax pools relating to these deductible temporary differences expire as follows:

		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