International Tower Hill Mines (THM) 10-Q10 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Nov. 03, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-33638
Entity Registrant Name	INTERNATIONAL TOWER HILL MINES LTD.
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	98-0668474
Entity Address, Address Line One	2710 - 200 Granville Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V6C 1S4
City Area Code	604
Local Phone Number	683-6332
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	THM
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		195,313,184
Entity Central Index Key	0001134115
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED INTERIM

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current
Cash and cash equivalents	$ 5,472,704	$ 7,780,671
Prepaid expenses and other	166,953	141,680
Total current assets	5,639,657	7,922,351
Property and equipment	7,465	7,465
Capitalized acquisition costs	55,375,124	55,375,124
Total assets	61,022,246	63,304,940
Current liabilities
Accounts payable	22,461	259,648
Accrued liabilities	157,096	320,233
Total liabilities	179,557	579,881
Shareholders' equity
Share capital, no par value; unlimited number of authorized shares; 194,908,184 and 195,313,184 shares issued and outstanding at December 31, 2021 and September 30, 2022, respectively	288,484,901	288,032,132
Contributed surplus	36,255,277	35,989,922
Accumulated other comprehensive income	1,437,139	1,828,121
Deficit	(265,334,628)	(263,125,116)
Total shareholders' equity	60,842,689	62,725,059
Total liabilities and shareholders' equity	$ 61,022,246	$ 63,304,940

CONDENSED CONSOLIDATED INTERI_2

CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS
Share capital, no par value	$ 0	$ 0
Share capital, unlimited shares authorized	Unlimited	Unlimited
Share capital, shares issued	195,313,184	194,908,184
Share capital, shares outstanding	195,313,184	194,908,184

CONDENSED CONSOLIDATED INTERI_3

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Operating expenses
Consulting fees	$ 57,691	$ 71,205	$ 490,456	$ 552,870
Depreciation	0	0	0	369
Insurance	51,505	46,695	152,441	134,632
Investor relations	7,929	11,481	57,502	65,374
Mineral property exploration	95,511	1,378,786	860,549	3,043,856
Office	5,560	10,963	15,996	24,368
Other	3,555	3,712	11,357	11,796
Professional fees	72,236	71,662	181,729	168,322
Regulatory	49,946	52,229	148,631	185,235
Rent	33,917	33,684	101,522	101,328
Travel	16,070	11,385	24,227	18,373
Wages and benefits	223,427	215,190	608,360	641,602
Total operating expenses	(617,347)	(1,906,992)	(2,652,770)	(4,948,125)
Other income (expenses)
Gain/(Loss) on foreign exchange	315,283	249,160	410,693	(49,356)
Interest income	1,512	3,627	4,621	17,390
Other income	5,292	5,292	27,944	15,292
Total other income (expenses)	322,087	258,079	443,258	(16,674)
Net loss for the period	(295,260)	(1,648,913)	(2,209,512)	(4,964,799)
Other comprehensive income (loss)
Exchange difference on translating foreign operations	(327,012)	(252,457)	(390,982)	51,980
Total other comprehensive income (loss) for the period	(327,012)	(252,457)	(390,982)	51,980
Comprehensive loss for the period	$ (622,272)	$ (1,901,370)	$ (2,600,494)	$ (4,912,819)
Basic loss per share	$ 0	$ (0.01)	$ (0.01)	$ (0.03)
Diluted loss per share	$ 0	$ (0.01)	$ (0.01)	$ (0.03)
Weighted average number of shares outstanding - basic	195,313,184	194,908,184	195,129,206	194,908,184
Weighted average number of shares outstanding - diluted	195,313,184	194,908,184	195,129,206	194,908,184

CONDENSED CONSOLIDATED INTERI_4

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Share capital	Contributed surplus	Accumulated other comprehensive income	Deficit	Total
Balance at Dec. 31, 2020	$ 288,032,132	$ 35,454,805	$ 1,759,228	$ (257,144,828)	$ 68,101,337
Balance (in shares) at Dec. 31, 2020	194,908,184
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Stock-based compensation-options	$ 0	137,251	0	0	137,251
Stock-based compensation-DSUs	0	367,850	0	0	367,850
Exchange difference on translating foreign operations	0	0	51,980	0	51,980
Net loss	0	0	0	(4,964,799)	(4,964,799)
Balance at Sep. 30, 2021	$ 288,032,132	35,959,906	1,811,208	(262,109,627)	63,693,619
Balance (in shares) at Sep. 30, 2021	194,908,184
Balance at Jun. 30, 2021	$ 288,032,132	35,929,885	2,063,665	(260,460,714)	65,564,968
Balance (in shares) at Jun. 30, 2021	194,908,184
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Stock-based compensation-options	$ 0	30,021	0	0	30,021
Exchange difference on translating foreign operations	0	0	(252,457)	0	(252,457)
Net loss	0	0	0	(1,648,913)	(1,648,913)
Balance at Sep. 30, 2021	$ 288,032,132	35,959,906	1,811,208	(262,109,627)	63,693,619
Balance (in shares) at Sep. 30, 2021	194,908,184
Balance at Dec. 31, 2021	$ 288,032,132	35,989,922	1,828,121	(263,125,116)	$ 62,725,059
Balance (in shares) at Dec. 31, 2021	194,908,184				194,908,184
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Stock-based compensation-options	$ 0	114,811	0	0	$ 114,811
Stock-based compensation-DSUs	0	313,023	0	0	313,023
Exchange difference on translating foreign operations	0	0	(390,982)	0	(390,982)
Exercise of options	$ 290,290	0	0	0	290,290
Exercise of options (in shares)	405,000
Reallocation from contributed surplus	$ 162,479	(162,479)	0	0	0
Reallocation from contributed surplus (in shares)	0
Net loss	$ 0	0	0	(2,209,512)	(2,209,512)
Balance at Sep. 30, 2022	$ 288,484,901	36,255,277	1,437,139	(265,334,628)	$ 60,842,689
Balance (in shares) at Sep. 30, 2022	195,313,184				195,313,184
Balance at Jun. 30, 2022	$ 288,484,901	36,233,808	1,764,151	(265,039,368)	$ 61,443,492
Balance (in shares) at Jun. 30, 2022	195,313,184
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
Stock-based compensation-options	$ 0	21,469	0	0	21,469
Exchange difference on translating foreign operations	0	0	(327,012)	0	(327,012)
Net loss	0	0	0	(295,260)	(295,260)
Balance at Sep. 30, 2022	$ 288,484,901	$ 36,255,277	$ 1,437,139	$ (265,334,628)	$ 60,842,689
Balance (in shares) at Sep. 30, 2022	195,313,184				195,313,184

CONDENSED CONSOLIDATED INTERI_5

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities
Loss for the period	$ (2,209,512)	$ (4,964,799)
Add items not affecting cash:
Depreciation	0	369
Stock-based compensation-options	114,811	137,251
Stock-based compensation-DSUs	313,023	367,850
Changes in non-cash items:
Accounts receivable	2,717	20,206
Prepaid expenses and other	(34,387)	(18,664)
Accounts payable and accrued liabilities	(395,529)	624,714
Cash used in operating activities	(2,208,877)	(3,833,073)
Financing Activities
Issuance of shares	290,290	0
Cash provided by financing activities	290,290	0
Effect of foreign exchange on cash	(389,380)	51,980
Change in cash and cash equivalents	(2,307,967)	(3,781,093)
Cash and cash equivalents, beginning of the period	7,780,671	13,049,293
Cash and cash equivalents, end of the period	$ 5,472,704	$ 9,268,200

GENERAL INFORMATION AND NATURE

GENERAL INFORMATION AND NATURE OF OPERATIONS	9 Months Ended
GENERAL INFORMATION AND NATURE OF OPERATIONS	Sep. 30, 2022
GENERAL INFORMATION AND NATURE OF OPERATIONS
GENERAL INFORMATION AND NATURE OF OPERATIONS	1. GENERAL INFORMATION AND NATURE OF OPERATIONS International Tower Hill Mines Ltd. (“ITH” or the “Company”) is incorporated under the laws of British Columbia, Canada. The Company’s head office address is 2710 - 200 Granville Street, Vancouver, British Columbia, Canada. International Tower Hill Mines Ltd. consists of ITH and its wholly-owned subsidiaries Tower Hill Mines, Inc. (“TH Alaska”) (an Alaska corporation), Tower Hill Mines (US) LLC (“TH US”) (a Colorado limited liability company), and Livengood Placers, Inc. (“LPI”) (a Nevada corporation). The Company is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. At September 30 These unaudited condensed consolidated interim financial statements have been prepared on a going-concern basis, which presumes the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future. As at September 30 The Company will require significant additional financing to continue its operations (including general and administrative expenses) in connection with advancing activities at the Livengood Gold Project and the development of any mine that may be determined to be built at the Livengood Gold Project. There is no assurance that the Company will make a decision to build a mine at the Livengood Gold Project and, if so, that it will be able to obtain the additional financing required on acceptable terms, if at all. In addition, any significant delays in the issuance of required permits for the ongoing work at the Livengood Gold Project, or unexpected results in connection with the ongoing work, could result in the Company being required to raise additional funds to advance permitting efforts. The Company’s review of its financing options includes considering a future strategic alliance to assist in further development, permitting and future construction costs, although there can be no assurance that any such strategic alliance will, in fact, be pursued or realized. Despite the Company’s success to date in raising significant equity financing to fund its operations, there is significant uncertainty that the Company will be able to secure any additional financing in the current or future equity markets. The amount of funds to be raised and the terms of any proposed equity financing that may be undertaken will be negotiated by management as opportunities to raise funds arise. Specific plans related to the use of proceeds will be devised once financing has been completed and management knows what funds will be available for these purposes. COVID-19 Pandemic In March 2020, the World Health Organization declared the novel coronavirus 2019 (“COVID-19”) a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. While it is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak, including as a result of the emergence of variant strains of the virus and ongoing vaccination efforts, and its ultimate effects on the Company’s business, results of operations or ability to raise funds at this time, as of the date of this Quarterly Report on Form 10-Q, the COVID-19 pandemic has not had any material adverse effects on the Company.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2022
BASIS OF PRESENTATION
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION These unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X under the Securities Exchange Act of 1934, as amended. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. These unaudited condensed consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021 as filed in our Annual Report on Form 10-K. In the opinion of the Company’s management, these financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Company’s financial position at September 30 September 30 The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the period. These judgments, estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While management believes the estimates to be reasonable, actual results could differ from those estimates and could impact future results of operations and cash flows. On November 9, 2022, the Board of Directors of the Company (the “Board”) approved these condensed consolidated interim financial statements. Basis of consolidation These condensed consolidated interim financial statements include the accounts of ITH and its wholly-owned subsidiaries TH Alaska, TH US, and LPI. All intercompany transactions and balances have been eliminated.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	3. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, accounts receivable and accounts payable and accrued liabilities approximate their fair values due to the short-term nature of these financial instruments. Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the significance of the inputs used in making the measurement. The three levels of the fair value hierarchy are as follows: ● Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities; ● Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and ● Level 3 – Inputs that are not based on observable market data. There were no financial instruments measured at fair value.

MINERAL PROPERTY

MINERAL PROPERTY	9 Months Ended
MINERAL PROPERTY	Sep. 30, 2022
MINERAL PROPERTY
MINERAL PROPERTY	4. MINERAL PROPERTY The Company had the following activity related to its Livengood Gold Project: Capitalized acquisition costs Amount Balance, December 31, 2021 $ 55,375,124 Acquisition costs — Balance, September 30, 2022 $ 55,375,124 The following table presents costs incurred for exploration and evaluation activities for the nine months ended September 30, 2022 and 2021: September 30, 2022 September 30, 2021 Exploration costs: Aircraft $ 9,000 $ 8,400 Environmental 156,412 153,963 Equipment rental 51,365 46,063 Field costs 74,030 310,095 Geological/geophysical 49,202 1,777,435 Land maintenance and tenure 449,572 672,731 Legal 78,653 62,689 Transportation and travel (7,685) 12,480 Total expenditures for the period $ 860,549 $ 3,043,856 Livengood Gold Project Property The Livengood property is located in the Tintina gold belt approximately 70 miles (113 kilometers) northwest of Fairbanks, Alaska. The property consists of land leased from the Alaska Mental Health Trust, a number of smaller private mineral leases, Alaska state mining claims purchased or located by the Company and patented ground held by the Company. Details of the leases are as follows: a) A lease of the Alaska Mental Health Trust mineral rights having a term beginning July 1, 2004 and extending 19 years until June 30, 2023, subject to further extensions beyond June 30, 2023 by either commercial production or payment of an advance minimum royalty equal to 125% of the amount paid in year 19 and diligent pursuit of development. The lease requires minimum work expenditures and advance minimum royalties (all of which minimum royalties are recoverable from production royalties) which escalate annually with inflation. A net smelter return (“NSR”) production royalty of between 2.5% and 5.0% (depending upon the price of gold) is payable to the lessor with respect to the lands subject to this lease. In addition, an NSR production royalty of l% is payable to the lessor with respect to the unpatented federal mining claims subject to the lease described in b) below and an NSR production royalty of between 0.5% and 1.0% (depending upon the price of gold) is payable to the lessor with respect to the lands acquired by the Company as a result of the purchase of LPI in December 2011. During the nine months ended September 30 , 2022 and from the inception of this lease, the Company has paid $364,462 and $4,358,318 , respectively. b) A lease of federal unpatented lode mining claims having an initial term of ten years commencing on April 21, 2003 and continuing for so long thereafter as advance minimum royalties are paid and mining related activities, including exploration, continue on the property or on adjacent properties controlled by the Company. The lease requires an advance minimum royalty of $50,000 on or before each anniversary date for the duration of the lease (all of which minimum royalties are recoverable from production royalties). An NSR production royalty of between 2% and 3% (depending on the price of gold) is payable to the lessors. The Company may purchase 1% of the royalty for $1,000,000 . During the nine months ended September 30 , 2022 and from the inception of this lease, the Company has paid $50,000 and $930,000 , respectively. c) A lease of patented lode mining claims having an initial term of ten years commencing January 18, 2007, and continuing for so long thereafter as advance minimum royalties are paid. The lease requires an advance minimum royalty of $20,000 on or before each anniversary date through January 18, 2017 and $25,000 on or before each subsequent anniversary (all of which minimum royalties are recoverable from production royalties). An NSR production royalty of 3% is payable to the lessors. The Company may purchase all interests of the lessors in the leased property (including the production royalty) for $1,000,000 (less all minimum and production royalties paid to the date of purchase), of which $500,000 is payable in cash over four years following the closing of the purchase and the balance is payable by way of the 3% NSR production royalty. The Company paid $15,000 of royalties during the nine months ended September 30 , 2022, for a total of $280,000 from the inception of this lease. The Company has acquired a 40% interest in the mining claims subject to the lease, providing the Company with a 40% interest in the lease. d) A lease of unpatented federal lode mining and federal unpatented placer claims having an initial term of ten years commencing on March 28, 2007, and continuing for so long thereafter as advance minimum royalties are paid and mining related activities, including exploration, continue on the property or on adjacent properties controlled by the Company. The lease requires an advance minimum royalty of $15,000 on or before each anniversary date for the duration of the lease (all of which minimum royalties are recoverable from production royalties). The Company is required to pay the lessor the additional sum of $250,000 upon making a positive production decision, of which $125,000 is payable within 120 days of the decision and $125,000 is payable within a year of the decision (all of which are recoverable from production royalties). An NSR production royalty of 2% is payable to the lessor. The Company may purchase all of the interest of the lessor in the leased property (including the production royalty) for $1,000,000 . The Company paid $15,000 of royalties during the nine months ended September 30 , 2022, for a total of $203,000 from the inception of this lease. Title to mineral properties The acquisition of title to mineral properties is a detailed and time-consuming process. The Company has taken steps to verify title to all mineral properties in which it has an interest. Although the Company has taken every reasonable precaution to ensure that legal title to its properties is properly recorded in the name of the Company, there can be no assurance that such title will ultimately be secured.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	9 Months Ended
ACCRUED LIABILITIES	Sep. 30, 2022
ACCRUED LIABILITIES
ACCRUED LIABILITIES	5. ACCRUED LIABILITIES The following table presents the accrued liabilities balances at September 30, 2022 and December 31, 2021. September 30, 2022 December 31, 2021 Accrued liabilities $ 118,496 $ 202,982 Accrued salaries and benefits 38,600 117,251 Total accrued liabilities $ 157,096 $ 320,233 Accrued liabilities at September 30

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
SHARE CAPITAL	Sep. 30, 2022
SHARE CAPITAL
SHARE CAPITAL	6. SHARE CAPITAL Authorized The Company’s authorized share capital consists of an unlimited number of common shares without par value. At December 31, 2021 and September 30 issued outstanding Share issuances During the nine months ended September 30 There were no share issuances during the nine months ended September 30 Stock options The Company adopted an incentive stock option plan in 2006, as amended September 19, 2012, and reapproved by the Company’s shareholders on May 28, 2015, May 30, 2018, and May 25, 2021 (the “Stock Option Plan”). The essential elements of the Stock Option Plan provide that the aggregate number of common shares of the Company that may be issued pursuant to options granted under the Stock Option Plan and any other share-based compensation arrangements may not exceed 10% of the number of issued shares of the Company at the time of the granting of options. Options granted under the Stock Option Plan will have a maximum term of ten years. The exercise price of options granted under the Stock Option Plan shall be fixed in compliance with the applicable provisions of the Toronto Stock Exchange (“TSX”) Company Manual in force at the time of grant and, in any event, shall not be less than the closing price of the Company’s common shares on the TSX on the trading day immediately preceding the day on which the option is granted, or such other price as may be agreed to by the Company and accepted by the TSX. Options granted under the Stock Option Plan vest immediately, unless otherwise determined by the Board at the date of grant. A summary of the options granted under the Stock Option Plan as of September 30, 2022 and December 31, 2021 is presented below: Nine Months Ended Year Ended September 30, 2022 December 31, 2021 Weighted Weighted Average Aggregate Average Aggregate Number of Exercise Price Intrinsic Value Number of Exercise Price Intrinsic Value Options (C$) (C$) Options (C$) (C$) Balance, beginning of the period 2,947,049 $ 0.97 2,707,049 $ 0.94 Granted 240,000 0.92 240,000 1.31 Exercised (405,000) 0.90 — — Cancelled (495,000) 1.08 — — Balance, end of the period 2,287,049 $ 0.95 $ 64,782 2,947,049 $ 0.97 $ 235,200 The weighted average remaining life of options outstanding at September 30 Stock options outstanding as at September 30, 2022 and December 31, 2021 are as follows: September 30, 2022 December 31, 2021 Exercise Number of Exercise Number of Expiry Date Price (C$) Options Exercisable Price (C$) Options Exercisable March 25, 2022* — — — $ 1.11 510,000 510,000 March 25, 2022* — — — $ 0.73 270,000 270,000 March 25, 2022* — — — $ 1.11 120,000 120,000 March 16, 2023 $ 1.00 580,000 580,000 $ 1.00 580,000 580,000 March 16, 2023 $ 0.50 130,000 130,000 $ 0.50 130,000 130,000 June 9, 2023 $ 1.00 30,000 30,000 $ 1.00 30,000 30,000 March 21, 2024 $ 0.61 374,817 374,817 $ 0.61 374,817 374,817 February 1, 2025 $ 1.35 250,000 250,000 $ 1.35 250,000 250,000 August 8, 2025 $ 0.85 187,232 187,232 $ 0.85 187,232 187,232 May 27, 2026 $ 0.92 255,000 255,000 $ 0.92 255,000 170,000 May 25, 2027 $ 1.31 240,000 160,000 $ 1.31 240,000 80,000 May 24, 2028 $ 0.92 240,000 80,000 — — — 2,287,049 2,047,049 2,947,049 2,702,049 * Expiry date automatically extended to March 25, 2022, the tenth business day following the end of a blackout period imposed on the holders of the stock options, pursuant to the terms of the Stock Option Plan. A summary of the non-vested options as of September 30, 2022 and changes during the nine months ended September 30, 2022 is as follows: Weighted average Number of grant-date fair value Non-vested options: options (C$) Outstanding at December 31, 2021 245,000 $ 0.91 Granted 240,000 0.60 Vested (245,000) 0.78 Outstanding at September 30, 2022 240,000 $ 0.73 At September 30 Deferred Share Unit Incentive Plan On April 4, 2017, the Company adopted a Deferred Share Unit Plan (the “DSU Plan”). The DSU Plan was approved by the Company’s shareholders on May 24, 2017 and reapproved by the Company’s shareholders on May 27, 2020 and May 25, 2021. The maximum aggregate number of common shares that may be issued under the DSU Plan and the Stock Option Plan is 10% of the number of issued and outstanding common shares (on a non-diluted basis). During the nine months ended September 30 DSUs outstanding as at September 30, 2022 and December 31, 2021 are as follows: Nine Months Ended Year Ended September 30, 2022 December 31, 2021 Weighted Average Weighted Number of Exercise Price Number of Average Exercise Units (C$) Units Price (C$) Balance, beginning of the period 2,151,276 $ 0.88 1,834,481 $ 0.81 Issued 451,085 $ 0.92 316,795 $ 1.31 Balance, end of the period 2,602,361 $ 0.89 2,151,276 $ 0.88 Share-based payments During the nine months ended September 30, 2022, there were 240,000 stock options granted under the Stock Option Plan and 451,085 DSUs granted for common shares of the Company under the DSU Plan. Share-based payment compensation for the nine months ended September 30, 2022 totaled $427,834 ($114,811 related to stock options and $313,023 related to DSUs). Of the total expense for the period ended September 30, 2022, $320,762 was included in consulting fees ($7,739 related to stock options and $313,023 related to DSUs), $7,138 was included in investor relations, and $99,934 was included in wages and benefits in the statement of operations and comprehensive loss. During the nine months ended September 30, 2021, there were 240,000 stock options granted under the Stock Option Plan and 316,795 DSUs granted for common shares of the Company under the DSU Plan. Share-based payment compensation for the nine months ended September 30, 2021 totaled $505,101 ($137,251 related to stock options and $367,850 related to DSUs). Of the total expense for the period ended September 30, 2021, $378,645 was included in consulting fees ($10,795 related to stock options and $367,850 related to DSUs), $8,430 was included in investor relations, and $118,026 was included in wages and benefits in the statement of operations and comprehensive loss. The following weighted average assumptions were used for the Black-Scholes valuation model for stock options granted during the period: YTD September 30, 2022 Expected life of options 6 years Risk-free interest rate 2.64% Annualized volatility 76.75% Dividend rate 0.00% Exercise price (C$) $ 0.92

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	9 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION	Sep. 30, 2022
SEGMENT AND GEOGRAPHIC INFORMATION
SEGMENT AND GEOGRAPHIC INFORMATION	7. SEGMENT AND GEOGRAPHIC INFORMATION The Company operates in a single reportable segment, being the exploration and development of mineral properties. The following tables present selected financial information by geographic location: Canada United States Total September 30, 2022 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,465 — 7,465 Current assets 5,114,168 525,489 5,639,657 Total assets $ 5,121,633 $ 55,900,613 $ 61,022,246 December 31, 2021 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,465 — 7,465 Current assets 7,439,101 483,250 7,922,351 Total assets $ 7,446,566 $ 55,858,374 $ 63,304,940 Three Months Ended September 30, 2022 September 30, 2021 Net gain for the period – Canada $ 146,351 $ 57,698 Net loss for the period – United States (441,611) (1,706,611) Net loss for the period $ (295,260) $ (1,648,913) Nine Months Ended September 30, 2022 September 30, 2021 Net loss for the period – Canada $ (550,369) $ (1,117,866) Net loss for the period – United States (1,659,143) (3,846,933) Net loss for the period $ (2,209,512) $ (4,964,799)

COMMITMENTS

COMMITMENTS	9 Months Ended
COMMITMENTS	Sep. 30, 2022
COMMITMENTS
COMMITMENTS	8. COMMITMENTS The following table discloses the Company’s contractual obligations as of September 30, 2022, including anticipated mineral property payments. Under the terms of the Company’s mineral property purchase agreements, mineral leases and unpatented mineral claims, the Company is required to make certain scheduled acquisition payments, incur certain levels of expenditures, make lease or advance royalty payments, make payments to government authorities and incur assessment work expenditures (as summarized in the table below) in order to maintain and preserve the Company’s interests in the related mineral properties. If the Company is unable or unwilling to make any such payments or incur any such expenditure, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. The following table assumes that the Company retains the rights to all of its current mineral properties, but does not exercise any lease purchase or royalty buyout options: Payments Due by Year 2022 2023 2024 2025 2026 2027 and beyond Total Mineral Property Leases (1) $ — $ 535,577 $ 541,272 $ 547,038 $ 552,876 $ 558,787 $ 2,735,550 Mining Claim Government Fees 168,760 206,215 206,215 206,215 206,215 206,215 1,199,835 Total $ 168,760 $ 741,792 $ 747,487 $ 753,253 $ 759,091 $ 765,002 $ 3,935,385 1. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the level of work that will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.

MINERAL PROPERTY (Tables)

MINERAL PROPERTY (Tables)	9 Months Ended
MINERAL PROPERTY (Tables)	Sep. 30, 2022
MINERAL PROPERTY
Schedule of activity related to the mineral property	Capitalized acquisition costs Amount Balance, December 31, 2021 $ 55,375,124 Acquisition costs — Balance, September 30, 2022 $ 55,375,124
Schedule of costs incurred for exploration and evaluation activities	September 30, 2022 September 30, 2021 Exploration costs: Aircraft $ 9,000 $ 8,400 Environmental 156,412 153,963 Equipment rental 51,365 46,063 Field costs 74,030 310,095 Geological/geophysical 49,202 1,777,435 Land maintenance and tenure 449,572 672,731 Legal 78,653 62,689 Transportation and travel (7,685) 12,480 Total expenditures for the period $ 860,549 $ 3,043,856

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	9 Months Ended
ACCRUED LIABILITIES (Tables)	Sep. 30, 2022
ACCRUED LIABILITIES
Schedule of accrued liabilities	The following table presents the accrued liabilities balances at September 30, 2022 and December 31, 2021. September 30, 2022 December 31, 2021 Accrued liabilities $ 118,496 $ 202,982 Accrued salaries and benefits 38,600 117,251 Total accrued liabilities $ 157,096 $ 320,233

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	9 Months Ended
SHARE CAPITAL (Tables)	Sep. 30, 2022
SHARE CAPITAL
Schedule of stock option granted	A summary of the options granted under the Stock Option Plan as of September 30, 2022 and December 31, 2021 is presented below: Nine Months Ended Year Ended September 30, 2022 December 31, 2021 Weighted Weighted Average Aggregate Average Aggregate Number of Exercise Price Intrinsic Value Number of Exercise Price Intrinsic Value Options (C$) (C$) Options (C$) (C$) Balance, beginning of the period 2,947,049 $ 0.97 2,707,049 $ 0.94 Granted 240,000 0.92 240,000 1.31 Exercised (405,000) 0.90 — — Cancelled (495,000) 1.08 — — Balance, end of the period 2,287,049 $ 0.95 $ 64,782 2,947,049 $ 0.97 $ 235,200
Schedule of stock options outstanding	Stock options outstanding as at September 30, 2022 and December 31, 2021 are as follows: September 30, 2022 December 31, 2021 Exercise Number of Exercise Number of Expiry Date Price (C$) Options Exercisable Price (C$) Options Exercisable March 25, 2022* — — — $ 1.11 510,000 510,000 March 25, 2022* — — — $ 0.73 270,000 270,000 March 25, 2022* — — — $ 1.11 120,000 120,000 March 16, 2023 $ 1.00 580,000 580,000 $ 1.00 580,000 580,000 March 16, 2023 $ 0.50 130,000 130,000 $ 0.50 130,000 130,000 June 9, 2023 $ 1.00 30,000 30,000 $ 1.00 30,000 30,000 March 21, 2024 $ 0.61 374,817 374,817 $ 0.61 374,817 374,817 February 1, 2025 $ 1.35 250,000 250,000 $ 1.35 250,000 250,000 August 8, 2025 $ 0.85 187,232 187,232 $ 0.85 187,232 187,232 May 27, 2026 $ 0.92 255,000 255,000 $ 0.92 255,000 170,000 May 25, 2027 $ 1.31 240,000 160,000 $ 1.31 240,000 80,000 May 24, 2028 $ 0.92 240,000 80,000 — — — 2,287,049 2,047,049 2,947,049 2,702,049 * Expiry date automatically extended to March 25, 2022, the tenth business day following the end of a blackout period imposed on the holders of the stock options, pursuant to the terms of the Stock Option Plan.
Schedule of non-vested share activity	A summary of the non-vested options as of September 30, 2022 and changes during the nine months ended September 30, 2022 is as follows: Weighted average Number of grant-date fair value Non-vested options: options (C$) Outstanding at December 31, 2021 245,000 $ 0.91 Granted 240,000 0.60 Vested (245,000) 0.78 Outstanding at September 30, 2022 240,000 $ 0.73
Schedule of deferred share units outstanding	DSUs outstanding as at September 30, 2022 and December 31, 2021 are as follows: Nine Months Ended Year Ended September 30, 2022 December 31, 2021 Weighted Average Weighted Number of Exercise Price Number of Average Exercise Units (C$) Units Price (C$) Balance, beginning of the period 2,151,276 $ 0.88 1,834,481 $ 0.81 Issued 451,085 $ 0.92 316,795 $ 1.31 Balance, end of the period 2,602,361 $ 0.89 2,151,276 $ 0.88
Schedule of weighted average assumptions used for Black-Scholes valuation model for stock options granted	YTD September 30, 2022 Expected life of options 6 years Risk-free interest rate 2.64% Annualized volatility 76.75% Dividend rate 0.00% Exercise price (C$) $ 0.92

SEGMENT AND GEOGRAPHIC INFORM_2

SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	Sep. 30, 2022
SEGMENT AND GEOGRAPHIC INFORMATION
Schedule of financial information by geographic location	Canada United States Total September 30, 2022 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,465 — 7,465 Current assets 5,114,168 525,489 5,639,657 Total assets $ 5,121,633 $ 55,900,613 $ 61,022,246 December 31, 2021 Capitalized acquisition costs $ — $ 55,375,124 $ 55,375,124 Property and equipment 7,465 — 7,465 Current assets 7,439,101 483,250 7,922,351 Total assets $ 7,446,566 $ 55,858,374 $ 63,304,940 Three Months Ended September 30, 2022 September 30, 2021 Net gain for the period – Canada $ 146,351 $ 57,698 Net loss for the period – United States (441,611) (1,706,611) Net loss for the period $ (295,260) $ (1,648,913) Nine Months Ended September 30, 2022 September 30, 2021 Net loss for the period – Canada $ (550,369) $ (1,117,866) Net loss for the period – United States (1,659,143) (3,846,933) Net loss for the period $ (2,209,512) $ (4,964,799)

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
COMMITMENTS (Tables)	Sep. 30, 2022
COMMITMENTS
Schedule of contractual obligations including anticipated mineral property payments	Payments Due by Year 2022 2023 2024 2025 2026 2027 and beyond Total Mineral Property Leases (1) $ — $ 535,577 $ 541,272 $ 547,038 $ 552,876 $ 558,787 $ 2,735,550 Mining Claim Government Fees 168,760 206,215 206,215 206,215 206,215 206,215 1,199,835 Total $ 168,760 $ 741,792 $ 747,487 $ 753,253 $ 759,091 $ 765,002 $ 3,935,385 1. Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the level of work that will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See Note 4.

GENERAL INFORMATION AND NATUR_2

GENERAL INFORMATION AND NATURE OF OPERATIONS (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
GENERAL INFORMATION AND NATURE OF OPERATIONS
Cash and cash equivalents	$ 5,472,704	$ 7,780,671
Livengood Gold Project
GENERAL INFORMATION AND NATURE OF OPERATIONS
Noncontrolling interest ownership percentage by parent	100%

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details)	Sep. 30, 2022 USD ($)
FAIR VALUE OF FINANCIAL INSTRUMENTS
Assets measured at fair value	$ 0

MINERAL PROPERTY (Details)

MINERAL PROPERTY (Details)	9 Months Ended
MINERAL PROPERTY (Details)	Sep. 30, 2022 USD ($)
MINERAL PROPERTY
Balance, at the beginning of the period	$ 55,375,124
Additions	0
Balance, at the end of the period	$ 55,375,124

MINERAL PROPERTY - Costs incurr

MINERAL PROPERTY - Costs incurred for exploration and evaluation activities (Details) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Exploration costs:
Aircraft	$ 9,000	$ 8,400
Environmental	156,412	153,963
Equipment rental	51,365	46,063
Field costs	74,030	310,095
Geological/geophysical	49,202	1,777,435
Land maintenance and tenure	449,572	672,731
Legal	78,653	62,689
Transportation and travel	(7,685)	12,480
Total expenditures for the period	$ 860,549	$ 3,043,856

MINERAL PROPERTY - Additional I

MINERAL PROPERTY - Additional Information (Details) - Livengood Property - USD ($)	9 Months Ended
	Sep. 30, 2022	Jan. 18, 2017	Mar. 28, 2007	Jan. 18, 2007	Apr. 21, 2003
Alaska Mental Health Trust Mineral Rights
MINERAL PROPERTY
Lessor, operating lease, renewal term	19 years
Minimum royalty payment percentage	125%
Lessor, operating lease, term of contract	19 years
Advance royalties	$ 364,462
Mining properties lease operating expense	$ 4,358,318
Alaska Mental Health Trust Mineral Rights \| Maximum
MINERAL PROPERTY
Minimum royalty percentage	5%
Alaska Mental Health Trust Mineral Rights \| Maximum \| Production Royalty
MINERAL PROPERTY
Minimum royalty percentage	1%
Alaska Mental Health Trust Mineral Rights \| Minimum
MINERAL PROPERTY
Minimum royalty percentage	2.50%
Alaska Mental Health Trust Mineral Rights \| Minimum \| Production Royalty
MINERAL PROPERTY
Minimum royalty percentage	0.50%
Federal Unpatented Lode Mining Claims
MINERAL PROPERTY
Lessor, operating lease, term of contract					10 years
Advance royalties	$ 50,000
Mining properties lease operating expense	$ 930,000
Federal Unpatented Lode Mining Claims \| Production Royalty
MINERAL PROPERTY
Portion of royalty to be purchased by the entity	1%
Payments for royalties	$ 1,000,000
Federal Unpatented Lode Mining Claims \| Maximum \| Production Royalty
MINERAL PROPERTY
Minimum royalty percentage	3%
Federal Unpatented Lode Mining Claims \| Minimum \| Advance Royalties
MINERAL PROPERTY
Advance royalties	$ 50,000
Federal Unpatented Lode Mining Claims \| Minimum \| Production Royalty
MINERAL PROPERTY
Minimum royalty percentage	2%
Patented Lode Claims
MINERAL PROPERTY
Lessor, operating lease, term of contract				10 years
Advance royalties	$ 15,000
Mining properties lease operating expense	$ 280,000
Percentage of mining claims acquired subject to lease	40%
Percentage of leasehold interest	40%
Patented Lode Claims \| Production Royalty
MINERAL PROPERTY
Minimum royalty percentage	3%
Payments for royalties	$ 1,000,000
Net smelter return base for payments to acquire royalty interests in mining properties	3%
Portion of cash payments payable to acquire royalty interests in mining properties	$ 500,000
Payments term following the closing of purchase	4 years
Patented Lode Claims \| Minimum \| Advance Royalties \| On or before each anniversary
MINERAL PROPERTY
Advance royalties		$ 20,000
Patented Lode Claims \| Minimum \| Advance Royalties \| On or before each subsequent anniversary
MINERAL PROPERTY
Advance royalties	$ 25,000
Unpatented Federal Lode Mining And Federal Unpatented Placer Claims
MINERAL PROPERTY
Lessor, operating lease, term of contract			10 years
Advance royalties	15,000
Mining properties lease operating expense	203,000
Unpatented Federal Lode Mining And Federal Unpatented Placer Claims \| On or before each anniversary
MINERAL PROPERTY
Advance royalties	$ 15,000
Unpatented Federal Lode Mining And Federal Unpatented Placer Claims \| Production Royalty
MINERAL PROPERTY
Minimum royalty percentage	2%
Payments for royalties	$ 1,000,000
Amount payable to lessor on positive production decision	250,000
Portion of amount payable to lessor on positive production decision within prescribed period of decision	125,000
Balance portion of payments to acquire royalty interests in mining properties payable by way of net smelter return	$ 125,000
Unpatented Federal Lode Mining And Federal Unpatented Placer Claims \| Maximum
MINERAL PROPERTY
Prescribed period from decision on positive production for payment of first half amount payable to lessor	120 days

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ACCRUED LIABILITIES
Accrued liabilities	$ 118,496	$ 202,982
Accrued salaries and benefits	38,600	117,251
Total accrued liabilities	$ 157,096	$ 320,233

ACCRUED LIABILITIES - Additiona

ACCRUED LIABILITIES - Additional Information (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
ACCRUED LIABILITIES
Accrued general corporate cost current	$ 64,973	$ 34,912
Accrued project cost current	$ 53,523	$ 168,070

SHARE CAPITAL - Stock Option Pl

SHARE CAPITAL - Stock Option Plan (Details) - CAD ($)	3 Months Ended		9 Months Ended	12 Months Ended
SHARE CAPITAL - Stock Option Plan (Details) - CAD ($)	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021
Common stock
Number of Options
Exercised			(405,000)
Stock Options
Number of Options
Balance, beginning of the period			2,947,049	2,707,049
Granted	240,000	240,000	240,000	240,000
Exercised			(405,000)
Cancelled			(495,000)
Balance, end of the period	2,287,049		2,287,049	2,947,049
Weighted Average Exercise Price
Balance, beginning of the period			$ 0.97	$ 0.94
Granted			0.92	1.31
Exercised			0.90
Cancelled			1.08
Balance, end of the period	$ 0.95		$ 0.95	$ 0.97
Aggregate Intrinsic Value
Balance, end of the period	$ 64,782		$ 64,782	$ 235,200

SHARE CAPITAL - Stock options o

SHARE CAPITAL - Stock options outstanding (Details) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Number of Options (in shares)	2,287,049	2,947,049
Exercisable (in shares)	2,047,049	2,702,049
Exercise Price March 25, 2022 $ 1.11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)		$ 1.11
Number of Options (in shares)		510,000
Exercisable (in shares)		510,000
Exercise Price March 25, 2022 $ 0.73
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)		$ 0.73
Number of Options (in shares)		270,000
Exercisable (in shares)		270,000
Exercise Price March 25 2022 $ 1.11
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)		$ 1.11
Number of Options (in shares)		120,000
Exercisable (in shares)		120,000
Exercise Price March 16, 2023 $ 1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 1	$ 1
Number of Options (in shares)	580,000	580,000
Exercisable (in shares)	580,000	580,000
Exercise Price March 16, 2023 $ 0.50
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 0.50	$ 0.50
Number of Options (in shares)	130,000	130,000
Exercisable (in shares)	130,000	130,000
Exercise Price June 9, 2023 $ 1.00
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 1	$ 1
Number of Options (in shares)	30,000	30,000
Exercisable (in shares)	30,000	30,000
Exercise Price March 21, 2024 $ 0.61
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 0.61	$ 0.61
Number of Options (in shares)	374,817	374,817
Exercisable (in shares)	374,817	374,817
Exercise Price February 1, 2025 $ 1.35
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 1.35	$ 1.35
Number of Options (in shares)	250,000	250,000
Exercisable (in shares)	250,000	250,000
Exercise Price August 8, 2025 $ 0.85
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 0.85	$ 0.85
Number of Options (in shares)	187,232	187,232
Exercisable (in shares)	187,232	187,232
Exercise Price May 27, 2026 $ 0.92
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 0.92	$ 0.92
Number of Options (in shares)	255,000	255,000
Exercisable (in shares)	255,000	170,000
Exercise Price May 25, 2027 $1.31
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 1.31	$ 1.31
Number of Options (in shares)	240,000	240,000
Exercisable (in shares)	160,000	80,000
Exercise Price May 24, 2028 $0.92
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range
Exercise Price (in Canadian dollars per share)	$ 0.92
Number of Options (in shares)	240,000
Exercisable (in shares)	80,000

SHARE CAPITAL - Non-vested opti

SHARE CAPITAL - Non-vested options (Details)	9 Months Ended
SHARE CAPITAL - Non-vested options (Details)	Sep. 30, 2022 $ / shares shares
Number of options
Balance, beginning of the year (in shares) \| shares	245,000
Granted \| shares	240,000
Vested \| shares	(245,000)
Balance, end of the year (in shares) \| shares	240,000
Weighted average grant-date fair value
Balance, beginning of the year (in Canadian dollars per share) \| $ / shares	$ 0.91
Granted (in Canadian dollars per share) \| $ / shares	0.60
Vested (in Canadian dollar per share) \| $ / shares	0.78
Balance, end of the year (in Canadian dollars per share) \| $ / shares	$ 0.73

SHARE CAPITAL - DSUs outstandin

SHARE CAPITAL - DSUs outstanding (Details) - Deferred Share Unit Incentive Plan - $ / shares	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Balance, beginning of the period			2,151,276	1,834,481
Issued	451,085	316,795	451,085	316,795
Balance, end of the period	2,602,361		2,602,361	2,151,276
Balance, beginning of the period			$ 0.88	$ 0.81
Issued			0.92	1.31
Balance, end of the period	$ 0.89		$ 0.89	$ 0.88

SHARE CAPITAL - Weighted averag

SHARE CAPITAL - Weighted average assumptions used for Black-Scholes valuation model for stock options granted (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares
SHARE CAPITAL
Expected life of options	6 years
Risk-free interest rate	2.64%
Annualized volatility	76.75%
Dividend rate	0%
Exercise price (C$)	$ 0.92

SHARE CAPITAL - Additional Info

SHARE CAPITAL - Additional Information (Details)	3 Months Ended		9 Months Ended			12 Months Ended
SHARE CAPITAL - Additional Information (Details)	Sep. 30, 2022 CAD ($) shares	Sep. 30, 2021 shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2022 CAD ($) $ / shares shares	Sep. 30, 2021 USD ($) shares	Dec. 31, 2021 CAD ($) $ / shares shares	Jun. 30, 2022 shares	Jun. 30, 2021 shares	Dec. 31, 2020 shares
Stockholders Equity
Common stock, shares, issued \| shares	195,313,184			195,313,184		194,908,184
Common stock, shares, outstanding \| shares	195,313,184			195,313,184		194,908,184
Contributed surplus transferred to share capital			$ 0
Common Stock, Shares Authorized, Unlimited			Unlimited			Unlimited
At-The-Market offering (in shares) \| shares					0
Allocated share-based compensation expense			$ 427,834		$ 505,101
Weighted average remaining outstanding (in years)			2 years 4 months 24 days
Share based compensation arrangement by share based payment award percentage of shares authorized	10%			10%
Unrecognized compensation expense	$ 95,715			$ 95,715
Weighted-average remaining period			1 year 1 month 6 days
Issuance of shares			$ 290,290		0
Stock Options
Stockholders Equity
Stock option granted \| shares	240,000	240,000	240,000			240,000
Allocated share-based compensation expense			$ 114,811		137,251
Plan 2006
Stockholders Equity
Share based compensation arrangement by share based payment award shares authorized percentage	10%			10%
Deferred Share Unit Incentive Plan
Stockholders Equity
Allocated share-based compensation expense			$ 313,023		$ 367,850
Stock option granted in under DSU plan \| shares	451,085	316,795	451,085			316,795
Weighted average granted value per share \| $ / shares				$ 0.92		$ 1.31
Deferred Share Unit Incentive Plan \| Non-Paulson Directors
Stockholders Equity
Aggregate value						$ 415,000
Number of shares obligation \| shares						90,217
Grant value per director						$ 83,000
Weighted average granted value per share \| $ / shares						$ 0.92
Common stock
Stockholders Equity
Common stock, shares, issued \| shares	195,313,184	194,908,184		195,313,184	194,908,184	194,908,184	195,313,184	194,908,184	194,908,184
Total proceeds from exercise of options			$ 290,290
Contributed surplus transferred to share capital			162,479
Consulting Fees Expenses
Stockholders Equity
Allocated share-based compensation expense			320,762
Consulting Fees Expenses \| Stock Options
Stockholders Equity
Allocated share-based compensation expense					$ 378,645
Wages And Benefits Expenses \| Stock Options
Stockholders Equity
Allocated share-based compensation expense			99,934		118,026
Investor Relations Expenses
Stockholders Equity
Allocated share-based compensation expense			7,138		8,430
Investor Relations Expenses \| Stock Options
Stockholders Equity
Allocated share-based compensation expense			$ 7,739		$ 10,795

SEGMENT AND GEOGRAPHIC INFORM_3

SEGMENT AND GEOGRAPHIC INFORMATION - Summary of Financial Information by Geographic Location (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Reporting Information
Capitalized acquisition costs	$ 55,375,124		$ 55,375,124		$ 55,375,124
Property and equipment	7,465		7,465		7,465
Current assets	5,639,657		5,639,657		7,922,351
Total assets	61,022,246		61,022,246		63,304,940
Net income (loss) for the period	(295,260)	$ (1,648,913)	(2,209,512)	$ (4,964,799)
Canada
Segment Reporting Information
Capitalized acquisition costs	0		0		0
Property and equipment	7,465		7,465		7,465
Current assets	5,114,168		5,114,168		7,439,101
Total assets	5,121,633		5,121,633		7,446,566
Net income (loss) for the period	146,351	57,698	(550,369)	(1,117,866)
United States
Segment Reporting Information
Capitalized acquisition costs	55,375,124		55,375,124		55,375,124
Property and equipment	0		0		0
Current assets	525,489		525,489		483,250
Total assets	55,900,613		55,900,613		$ 55,858,374
Net income (loss) for the period	$ (441,611)	$ (1,706,611)	$ (1,659,143)	$ (3,846,933)

COMMITMENTS (Details)

COMMITMENTS (Details)	Sep. 30, 2022 USD ($)
Recorded Unconditional Purchase Obligation
2022	$ 168,760
2023	741,792
2024	747,487
2025	753,253
2026	759,091
2027 and beyond	765,002
Total	3,935,385
Mineral Property Leases
Recorded Unconditional Purchase Obligation
2023	535,577
2024	541,272
2025	547,038
2026	552,876
2027 and beyond	558,787
Total	2,735,550
Mining Claim Government Fees
Recorded Unconditional Purchase Obligation
2022	168,760
2023	206,215
2024	206,215
2025	206,215
2026	206,215
2027 and beyond	206,215
Total	$ 1,199,835