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Share Option and Warrant Reserves (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information

Disclosure of share option activity

		Years ended December 31
		2021				2020
Recognized in net loss from continuing operations and included in:
Exploration and evaluation costs		$	473			$	528
Fees, salaries and other employee benefits			1,573				2,002
		$	2,046			$	2,530
Recognized in net loss from discontinued operations			-				239
Total share-based compensation expense		$	2,046			$	2,769

Disclosure of share options outstanding and exercisable

		Years ended December 31
		2021				2020
Risk-free interest rate			0.91%				0.36%
Expected dividend yield		Nil				Nil
Share price volatility			67%				68%
Expected forfeiture rate			0%				0%
Expected life in years			4.90				4.90

Disclosure of share-based payments

		Number of share options				Weighted average exercise price ($/option)^(a)
Outstanding, December 31, 2019			5,602,619			$	2.96
Granted ^(b)			5,857,459				2.42
Exercised			(3,228,182	)			2.42
Expired			(20,272	)			2.90
Forfeited			(70,620	)			2.61
Outstanding, December 31, 2020			8,141,004			$	2.67
Granted ^(c)			1,405,000				1.03
Exercised			(5,834	)			0.86
Expired			(1,685,048	)			3.62
Forfeited ^(c)			(1,103,125	)			2.04
Outstanding, December 31, 2021			6,751,997			$	2.00

Disclosure of assumptions

		Options outstanding												Options exercisable
Exercise price ($/option)		Number of shares				Weighted average exercise price ($/option)				Weighted average remaining life (years)				Number of shares				Weighted average exercise price ($/option)				Weighted average remaining life (years)
$0.56 – $1.95			2,934,405				1.28				1.58				1,826,282				1.44				2.30
$2.05 – $4.37			3,686,324				2.35				3.22				2,987,575				2.42				3.08
$7.54 – $9.00			131,268				7.88				0.41				131,268				7.88				0.41
			6,751,997				2.00				2.45				4,945,125				2.21				2.72

Disclosure of warrant activity

		Warrants outstanding				Exercise price ($/share)
Outstanding at December 31, 2019			337,813			$	2.96
Issued ^(a)			1,297,591				1.33
Exercised			(8,664	)			1.46
Outstanding at December 31, 2020			1,626,740			$	1.66
Issued (note 15i)			7,461,450				1.20
Exercised			(101,042	)			1.46
Expired			(775,695	)			1.42
Outstanding at December 31, 2021			8,211,453			$	1.27

^(a)	As part of the acquisition of Eastmain in October 2020, 11.1 million warrants were converted to Fury Gold warrants for a value of $1,560 (note 6).

The following table reflects the warrants issued and outstanding as of December 31, 2021:

Expiry date		Warrants outstanding				Exercise price ($/share)
March 6, 2022			189,613				1.11
March 9, 2022			222,577				1.11
September 12, 2022			337,813				2.96
October 6, 2024			5,085,670				1.20
October 12, 2024			2,375,780				1.20
Total			8,211,453				1.27