Amarc Resources (AXREF) 6-K 29 Feb 24 2024 Q3 Condensed Consolidated Interim Financial Statements Financial data

Cover

Cover	9 Months Ended
	Dec. 31, 2023
Cover [Abstract]
Entity Registrant Name	AMARC RESOURCES LTD.
Entity Central Index Key	0001175596
Document Type	6-K
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Entity Ex Transition Period	false
Entity File Number	000-49869
Entity Incorporation State Country Code	Z4
Entity Address Address Line 1	14th Floor – 1040 W. Georgia Street
Entity Address Address Line 2	1040 West Georgia Street
Entity Address City Or Town	Vancouver
Entity Address Postal Zip Code	V6E 4H1
City Area Code	604
Local Phone Number	561-2873
Entity Address Country	CA

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Financial Position - CAD ($)	Dec. 31, 2023	Mar. 31, 2023
Current assets
Cash	$ 5,087,086	$ 5,131,510
Amounts receivable and other assets	106,606	218,351
Marketable securities	96,837	139,284
Total Current Assets	5,290,529	5,489,145
Non-current assets
Restricted cash	539,834	539,834
Right-of-use asset	47,076	62,208
Total assets	5,877,439	6,091,187
Current liabilities
Accounts payable and accrued liabilities	577,390	1,180,863
Advanced contributions received	1,566,966	4,124,349
Balance due to related parties	132,146	530,512
Flow through liability	769,231	0
Lease liability	22,754	20,696
Total current liabilities	3,068,487	5,856,420
Non-current liabilities
Director's loan	747,148	648,005
Lease Liability	34,890	52,207
Total liabilities	3,850,525	6,556,632
Shareholders' equity
Share capital	67,236,421	65,228,921
Reserves	4,327,722	4,289,896
Accumulated deficit	(69,537,229)	(69,984,263)
Stockholders' Equity	2,026,914	(465,446)
Total liabilities and shareholders' equity	$ 5,877,439	$ 6,091,186

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Income (Unaudited) - CAD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Expenses
Exploration and evaluation	$ 1,712,024	$ 2,123,387	$ 9,182,161	$ 10,714,921
Assays and analysis	245,484	305,763	1,120,316	415,664
Drilling	0	269,277	0	3,226,200
Environmental	23,370	0	58,506	0
Equipment rental	125,158	0	290,826	0
Freight	11,683	0	59,693	0
Geological, including geophysical	843,426	347,680	3,301,642	1,267,004
Graphics	3,575	0	24,305	0
Helicopter and fuel	13,446	52,175	1,487,096	2,034,154
Property acquisition and assessments costs	66,946	64,170	193,998	170,708
Site activities	176,183	788,096	2,077,330	2,955,128
Socioeconomic	103,795	198,089	225,217	437,866
Technical data	50,335	45,415	81,823	67,915
Travel and accommodation	48,623	52,722	261,409	140,282
Administration	343,252	212,667	794,633	559,603
Legal, accounting and audit	55,131	7,623	89,866	35,137
Office and administration	103,763	81,228	296,929	219,335
Rent	13,721	4,640	40,975	22,275
Shareholder communication	83,014	102,200	225,069	217,489
Travel and accommodation expense	66,166	16,400	90,623	38,852
Trust and regulatory	21,457	576	51,171	26,515
Equity-settled share-based compensation	26,758	13,236	80,273	116,376
Cost recoveries	(2,713,983)	(3,090,775)	(9,992,051)	(16,103,562)
Loss (income) before other items	445,510	(741,485)	1,142,475	(4,712,662)
Other items
Finance income	(72,612)	(47,188)	(249,553)	(51,339)
Interest expense - director's loans	25,205	35,574	75,342	99,574
Accretion expense - office lease	1,764	2,343	5,755	7,410
Other fee income	0	(175,501)	(460,000)	(960,882)
Amortization of right-of-use asset	5,044	5,044	15,132	15,132
Transaction cost - director's loans	35,573	26,726	99,143	74,485
Loss on sales of marketable securities	0	0	0	2,429
Foreign exchange loss	1,583	788	2,132	2,424
Net income	(635,392)	(893,699)	(447,033)	(5,523,429)
Other comprehensive (income) loss
Change in value of marketable securities	(14,495)	(82,536)	42,447	58,638
Total other comprehensive income	$ (649,887)	$ (976,235)	$ (404,586)	$ (5,464,791)
Basic and diluted income per share	$ 0	$ 0	$ 0	$ (0.03)
Weighted average number of common shares outstanding	195,126,807	186,602,894	189,462,894	186,602,894

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Comprehensive Income (Loss) (unaudited)	3 Months Ended		9 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Condensed Interim Consolidated Statements of Income (Unaudited)
Net income	$ 635,392	$ 893,699	$ 447,033	$ 5,523,429
Other comprehensive income (loss):
Revaluation of marketable securities	14,495	82,536	(42,447)	(58,638)
Total other comprehensive income (loss)	14,495	82,536	(42,447)	(58,638)
Comprehensive income	$ 649,887	$ 976,235	$ 404,586	$ 5,464,791

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Changes in Equity	CAD ($)	USD ($)	Number of Common Shares CAD ($) shares	Share-based payments reserve CAD ($)	Investment revaluation reserve CAD ($)	Share warrants reserve CAD ($)	Deficit CAD ($)
Balance, amount at Mar. 31, 2022	$ (628,423)		$ 65,228,921	$ 2,386,230	$ (1,327,802)	$ 3,035,907	$ (69,951,679)
Balance, shares at Mar. 31, 2022 | shares			186,602,894
Statement [Line Items]
Net income for the period	5,523,429		$ 0	0	0	0	5,523,429
Other comprehensive loss for the period	(58,638)		0	0	(58,638)	0	0
Total comprehensive loss	5,464,791	$ 5,464,791	0	0	(58,638)	0	5,523,429
Issuance of share purchase warrants	99,191		0	0	0	99,191	0
Equity-settled share-based compensation	116,376		$ 0	116,376	0	0	0
Equity-settled share-based compensation	116,376
Balance, shares at Dec. 31, 2022 | shares			186,602,894
Balance, amount at Dec. 31, 2022	5,051,935		$ 65,228,921	2,502,606	(1,386,440)	3,135,098	(64,428,250)
Balance, amount at Mar. 31, 2023	(465,446)		$ 65,228,921	2,650,490	(1,495,692)	3,135,098	(69,984,262)
Balance, shares at Mar. 31, 2023 | shares			186,602,894
Statement [Line Items]
Net income for the period	447,033		$ 0	0	0	0	447,033
Other comprehensive loss for the period	(42,447)		0	0	(42,447)	0	0
Total comprehensive loss	404,586	$ 404,586	$ 0	0	(42,447)	0	447,033
Issuance of common shares pursuant to property agreement, shares | shares			100,000
Issuance of common shares pursuant to property agreement, amount	7,500		$ 7,500	0	0	0	0
Issuance of common shares pursuant to a non-flow-through private placement, shares | shares			9,615,385
Issuance of common shares pursuant to a non-flow-through private placement, amount	769,231		$ 769,231	0	0	0	0
Issuance of common shares pursuant to a flow-through private placement, shares | shares			15,384,615
Issuance of common shares pursuant to a flow-through private placement, amount	2,000,000		$ 2,000,000	0	0	0	0
Flow-through share premium liability	(769,231)		(769,231)	0	0	0	0
Equity-settled share-based compensation	80,273		$ 0	80,273	0	0	0
Balance, shares at Dec. 31, 2023 | shares			211,702,894
Balance, amount at Dec. 31, 2023	$ 2,026,914		$ 67,236,421	$ 2,730,763	$ (1,538,139)	$ 3,135,098	$ (69,537,229)

Condensed Interim Consolidate_5

Condensed Interim Consolidated Statements of Cash Flows - CAD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income for the period	$ 447,033	$ 5,523,429
Adjustments for:
Amortization of right-of-use asset	15,132	15,132
Equity-settled share-based compensation	80,273	116,376
Office lease accretion per IFRS 16	5,755	7,410
Office base rent recorded as lease reduction per IFRS 16	(21,014)	(20,031)
Property acquisition and assessments costs	7,500	0
Interest expense - director's loans	0	99,574
Transaction cost - director's loans	99,143	74,485
Changes in working capital items
Amounts receivable and other assets	111,745	(102,471)
Restricted cash	0	(346,484)
Accounts payable and accrued liabilities	(603,473)	331,036
Advanced contributions received	(2,557,383)	0
Balances due to related parties	(398,366)	(45,596)
Net cash provided by (used in) operating activities	(2,813,655)	5,652,860
Investing activities
Proceeds from disposition of mineral properties	0	1,690
Net cash provided by investing activities	0	1,690
Financing activities
Net proceeds from issuance of common shares pursuant to a private placement	2,769,231	0
Proceeds from director's loan	0	350,000
Net cash provided by financing activities	2,769,231	350,000
Net increase (decrease) in cash	(44,424)	6,004,550
Cash, beginning balance	5,131,510	370,784
Cash, ending balance	$ 5,087,086	$ 6,375,334

Nature And Continuance Of Opera

Nature And Continuance Of Operations	9 Months Ended
	Dec. 31, 2023
Nature And Continuance Of Operations
Nature And Continuance Of Operations	1. NATURE AND CONTINUANCE OF OPERATIONS Amarc Resources Ltd. (“Amarc” or the “Company”) is a company incorporated under the laws of the Province of British Columbia (“BC”). Its principal business activity is the acquisition and exploration of mineral properties. The Company’s mineral property interests are located in BC. The address of the Company’s corporate office is 14th Floor, 1040 West Georgia Street, Vancouver, BC, Canada V6E 4H1. The Company is in the process of exploring its mineral property interests and has not yet determined whether its mineral property interests contain economically recoverable mineral reserves. The Company’s continuing operations are entirely dependent upon the existence of economically recoverable mineral reserves, the ability of the Company to obtain the necessary financing to continue the exploration and development of its mineral property interests and to obtain the permits necessary to mine, and the future profitable production from its mineral property interest or proceeds from the disposition of its mineral property interests. These condensed consolidated interim financial statements as at and for the nine months ended December 31, 2023 (the “Financial Statements”) have been prepared on a going concern basis, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. As at December 31, 2023, the Company had cash of $5,087,086, working capital of $2,222,042, and an accumulated deficit of $69,537,229. The Company will need to seek additional financing to meet its exploration and development objectives. The Company has a reasonable expectation that additional funds will be available when necessary to meet ongoing exploration and development costs. However, there can be no assurance that the Company will continue to be able to obtain additional financial resources or will achieve profitability or positive cash flows. If the Company is unable to obtain adequate additional financing, the Company will be required to re-evaluate its planned expenditures until additional funding can be raised through financing activities. These factors indicate the existence of a material uncertainty that casts significant doubt about the Company’s ability to continue as a going concern. These Financial Statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that may be necessary should the Company be unable to continue as a going concern.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Dec. 31, 2023
Significant Accounting Policies
Significant Accounting Policies	2. SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of these Financial Statements are described below. These policies have been consistently applied for all years presented, unless otherwise stated. (a) Statement of compliance These Financial Statements have been prepared in accordance with IAS 34, Interim Financial Reporting (“IAS 34”), as issued by the International Accounting Standards Board (“IASB”) and the interpretations by the IFRS Interpretation Committee (“IFRIC”). These Financial Statements do not include all of the information and footnotes required by International Financial Reporting Standards (“IFRS”) for complete financial statements for year-end reporting purposes. These Financial Statements should be read in conjunction with the Company’s consolidated financial statements as at and for the year ended March 31, 2023. Results for the reporting period ended December 31, 2023 are not necessarily indicative of future results. The accounting policies and methods of computation applied by the Company in these Financial Statements are the same as those applied by the Company in its more recent annual financial statements, which are filed under the Company’s provide on SEDAR at www.sedarplus.ca. The Board of Directors of the Company authorized these Financial Statements for issuance on February 28, 2024. (b) Basis of presentation and consolidation These Financial Statements have been prepared on a historical cost basis, except for certain financial instruments classified as fair value through other comprehensive income, which are reported at fair value. In addition, these Financial Statements have been prepared using the accrual basis of accounting, except for cash flow information. These Financial Statements include the financial statements of the Company and its wholly-owned subsidiary, 1130346 B.C. Ltd., (the “Subco”) incorporated under the laws of British Columbia. The Subco was incorporated for the purposes of entering into an option agreement related to the JOY District. On March 31, 2021, the Subco was dissolved, did not have any assets, liabilities, income or expenses, and all intercompany balances and transactions had been eliminated. Certain comparative amounts have been reclassified to conform to the presentation adopted in the current period. (c) Significant accounting estimates and judgements The critical estimates and judgements applied in the preparation of these Financial Statements are consistent with those applied in the Company’s audited consolidated financial statements as at and for the year ended March 31, 2023. (d) Operating segments The Company operates as a single reportable segment—the acquisition, exploration and development of mineral properties. All assets are held in Canada. The functional and presentational currency of the Company is the Canadian Dollar (“CAD”).

Cash

Cash	9 Months Ended
	Dec. 31, 2023
Cash
Cash	3. CASH The Company’s cash is invested in business accounts, which are available on demand by the Company.

Marketable Securities

Marketable Securities	9 Months Ended
	Dec. 31, 2023
Marketable Securities
Marketable Securities	4. MARKETABLE SECURITIES As at December 31, 2023, the fair value of its current holdings was $96,837 (March 31, 2023 - $139,284) and the positive change of fair value adjustment of $42,447 for the period ended December 31, 2023 (December 31, 2022 – positive change of fair value adjustment of $58,638). The marketable securities include 550,000 units (shares and warrants) of Carlyle Commodities Corp., a Canadian public company listed on TSXV Exchange. As at December 31, 2023, the Company held the following marketable securities: Shares/Warrants Held Cost Fair Value Fair Value Increase (Decrease) (#) ($) ($) ($) Carlyle Commodities Corp – Shares 550,000 907,500 66,000 (841,500 ) Carlyle Commodities Corp – Warrants 550,000 727,000 17,000 (710,000 ) Other 1,329,189 14,237 13,837 (400 ) Total 2,429,189 1,648,737 96,837 (1,551,900 )

Restricted Cash

Restricted Cash	9 Months Ended
	Dec. 31, 2023
Restricted Cash
Restricted Cash	5. RESTRICTED CASH Restricted cash represents amounts held in support of exploration permits. The amounts are refundable subject to the consent of regulatory authorities upon completion of any required reclamation work on the related projects.

Amounts Receivable and Other As

Amounts Receivable and Other Assets	9 Months Ended
	Dec. 31, 2023
Amounts Receivable and Other Assets
Amounts Receivable and Other Assets	6. AMOUNTS RECEIVABLE AND OTHER ASSETS December 31, 2023 March 31, 2023 ($) ($) Sales tax refundable 98,729 199,184 Prepaid 7,877 19,167 106,606 218,351

Exploration and Evaluation Expe

Exploration and Evaluation Expenses and Cost Recoveries	9 Months Ended
	Dec. 31, 2023
Exploration and Evaluation Expenses and Cost Recoveries
Exploration and Evaluation Expenses and Cost Recoveries	7. EXPLORATION AND EVALUATION EXPENSES AND COST RECOVERIES Below is a summary of the Company’s major exploration property interests, together with the material property transactions. (a) IKE District The IKE Property mineral claims (a subset of the IKE District mineral tenure) carry a net smelter return (“NSR”) royalty obligation of 1%, subject to a $2 million cap and which the Company is able to purchase at any time by payment of the same amount. These claims carry an additional NSR royalty of 2%, subject to the Company retaining the right to purchase up to the entire royalty amount by the payment of up to $4 million. The Company has also agreed to make annual advance royalty payments of $50,000 to the holders of the 2% NSR royalty interest and, upon completion of a positive feasibility study, to issue to these same parties 500,000 common shares. The Granite Property mineral claims (a subset of the IKE District mineral tenure) are subject to a 2% NSR royalty which can be purchased for $2 million. In addition, there is an underlying 2.5% NSR royalty on certain mineral claims within the Granite Property, which can be purchased at any time for $1.5 million less any amount of royalty already paid. The entire IKE District is subject to a 1% NSR royalty from mine production capped at a total of $5 million. (b) JOY District In November 2016, the Company entered into a purchase agreement with a private company wholly-owned by one of its directors to purchase 100% of the JOY Property mineral claims (a subset of the JOY District mineral tenure) for the reimbursement of the vendor’s direct acquisition costs of $335,299. In addition, the Company concluded agreements with each of Gold Fields Toodoggone Exploration Corporation (“GFTEC”) and Cascadero Copper Corporation (“Cascadero”) in mid-2017 pursuant to which the Company can purchase 100% of the PINE Property mineral claims (a subset of the JOY District Mineral tenure). In October 2018, Amarc acquired a 100% interest in Cascadero’s 49% interest in the PINE Property by completing total cash payments of $1,000,000 and issuing 5,277,778 common shares. In December 2019, the Company amended the GFTEC Agreement to purchase GFTEC’s 51% interest in the PINE Property. Under the terms of the amendment Amarc purchased outright GFTEC’s 51% interest in the PINE Property by issuing to GFTEC 5,000,000 common shares of the Company. As such, Amarc now holds a 100% interest in the PINE Property mineral claims. The PINE Property is subject to a 3% underlying NSR royalty payable to a former owner. The Company reached an agreement with the former owner to cap the 3% NSR royalty at $5 million payable from production for consideration totaling $100,000 and 300,000 common shares payable in stages through to January 31, 2019 (completed). GFTEC retains a 2.5% net profits interest (“NPI”) royalty on mineral claims comprising approximately 96% of the PINE Property, which are subject to a NSR royalty payable to a former owner (“Underlying NSR”) and a 1% NSR royalty on the balance of the claims that are not subject to the Underlying NSR royalty. The NPI royalty can be reduced to 1.25% at any time through the payment to GFTEC of $2.5 million in cash or shares. The NSR royalty can be reduced to 0.5% through the payment to GFTEC of $2.5 million in cash or shares. In November 2019 Amarc entered into a purchase agreement with two prospectors to acquire 100% of a single mineral claim, called the Paula Property, located internal to the wider JOY District mineral tenure. The claim is subject to a 1% NSR royalty payable from commercial production that is capped at $0.5 million. JOY District Agreement with Freeport On May 11, 2021, the Company and Freeport-McMoRan Mineral Properties Canada Inc. (“Freeport”), a wholly-owned subsidiary of Freeport-McMoRan Inc. (NYSE:FCX) entered into a Mineral Property Earn-in Agreement (the “Agreement”) whereby Freeport may acquire up to a 70% ownership interest of the Company’s JOY porphyry Cu-Au District Property. Under the terms of the Agreement, Freeport has a two-stage option to earn up to a 70% ownership interest in the mineral claims comprising the JOY District, plus other rights and interests, over a 10 year period. To earn an initial 60% interest, Freeport is required to fund $35 million of work expenditures over a 5- year term. These optional earn-in expenditures can be accelerated by Freeport at its discretion. Amarc will be operator during the initial earn-in period. Once Freeport has acquired such 60% interest, Amarc and Freeport will proceed to operate the JOY District through a jointly owned corporation with Freeport assuming project operatorship. Upon Freeport earning such 60% interest, it can elect, in its sole discretion, to earn an additional 10% interest, for a total 70% interest by sole funding a further $75 million within the following five years. Once Freeport has finalized its earned ownership interest at either the 60% or 70% level, each party will be responsible for funding its own pro-rata share of project costs on a 60:40 or 70:30 basis. The Company initially records the amounts of contributions received or receivable from Freeport pursuant to the Agreement as a liability (advanced contributions received) in the consolidated statements of financial position, and subsequently reallocates amounts as cost recoveries in the consolidated statements of (income) loss as the Company incurs the related expenditures. During the nine months ended December 31, 2023, the Company recorded a gross amount of cost recovery of $4,922,827 offsetting the expenditures incurred pursuant to the Agreement. (c) DUKE District The DUKE District is located in central BC. In November 2016, the Company entered into a purchase agreement with a private company wholly-owned by one of its directors (Note 11(c)) to purchase a 100% interest in the DUKE Property mineral claims (a subset of the DUKE District mineral tenure) for the reimbursement of the vendor’s direct acquisition costs of $168,996. DUKE District Agreement with Boliden On November 22, 2022, the Company announced that it had entered into a Mineral Property Earn-in Agreement (the "Agreement") with Boliden Mineral Canada Ltd. (“Boliden”), a wholly-owned subsidiary of the Boliden Group. Under the terms of the Agreement, Boliden has a two-staged option to earn up to a 70% interest in the DUKE District. To earn an initial 60% interest Boliden must fund $30 million of exploration and development expenditures within four years of the effective date of the Agreement, of which $5 million is a committed amount to be spent in calendar 2022 and early calendar 2023. Amarc will be the operator during this initial earn-in stage. Upon earning a 60% interest, Boliden can elect to earn an additional 10% interest in the Duke District, for an aggregate 70% interest, by funding an additional $60 million of exploration and development expenditures at a minimum rate of $10 million per year over the ensuing six years. Once Boliden has earned a 60% interest it will also have the right to become the operator. Upon Boliden finalizing its earned ownership interest, Amarc and Boliden will form either a 60:40 or 70:30 unincorporated joint venture to further advance the DUKE District. At that stage, each party will be responsible for funding its own pro-rata share of project costs, or be subject to customary equity dilution, converting to a capped royalty if it falls below a 10% participating interest. The Company initially records the amounts of contributions received or receivable from Boliden pursuant to the Agreement as a liability (Advanced contributions received) in the consolidated statements of financial position, and subsequently recognizes amounts as cost recoveries in the consolidated statements of (income) loss as the Company incurs the related expenditures. During the nine months ended December 31, 2023, the Company recorded a gross amount of cost recovery of $5,054,064 offsetting the expenditures incurred pursuant to the Agreement. During the nine month period ended December 31, 2023, the Company earned a fee of $375,000 as the project operator. DUKE District Capped Royalty Amarc holds 100% interest in the 722 km 2 On September 5, 2023, Amarc announced that it may acquire 100% interest in a group of mineral claims covering some 2.34 km 2 (d) Other property transactions During the year ended March 31, 2020, the Company received a non-refundable payment of US$200,000 (CDN$260,115) pursuant to an option agreement, whereby an arms-length third party optionee agreed to earn an initial 51% interest in the Windfall Project which was comprised of 25 mineral claims located within the IKE District , by spending US$4.2 million of exploration expenditures by October 21, 2022. On May 25, 2021, this option agreement was terminated by mutual consent of both the Company and the optionee. On December 16, 2020 (the “Closing Date”), the Company closed the sale of its Newton Property, located in south-central BC, to Isaac Mining Corp. (“IMC”), an arms-length private company and a wholly-owned subsidiary of Carlyle Commodities Corp. (“Carlyle”). Pursuant to this sale, the Company received $300,000 in cash from IMC and 5.5 million common shares and 5.5 million warrants of Carlyle as consideration. The 5.5 million common shares were measured at $907,500 based on the fair market value of $0.165 per share on the Closing Date. The 5.5 million warrants were measured at $727,000 using the Black-Scholes option pricing model with the following assumptions: risk free-interest rate – 0.38%; dividend yield – 0.00%; expected volatility – 139.0%; expected life – 4.98 years. As Carlyle consolidated its common shares on a basis of 10 to 1 on September 1, 2022, the 550,000 post-consolidated warrants are exercisable at $5 per warrant until December 8, 2025. On May 16, 2022, the Company entered into a mineral claims option agreement with an arms-length third party optionor to acquire a 100% interest in and to a property, subject to a 2% NSR royalty in the event of commercial production on the property, payable until $10,000,000 has been paid after which the NSR royalty reduces to 0.5%. The Company paid $100,000 during the year ended March 31, 2023 and shall pay $100,000 on or before May 31, 2023 and each year thereafter to, and including, May 31, 2031 until an aggregate of $1,000,000 has been paid to optionor.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities
Accounts Payable and Accrued Liabilities	8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES December 31, 2023 March 31, 2023 ($) ($) Accounts payable 312,410 944,393 Accrued liabilities 264,980 236,470 Total 577,390 1,180,863

Directors Loans

Directors Loans	9 Months Ended
	Dec. 31, 2023
Directors Loans
Directors Loan	9. DIRECTOR’S LOAN In December 2019, the Company entered into a loan extension and amendment agreement (the “Loan”) with a director and significant shareholder of the Company (the “Lender”), pursuant to which a previous loan agreement with a maturity date of November 26, 2019 was extended for five years or earlier pending the achievement of certain financing milestones. The Loan has a principal sum of $1,000,000, is unsecured and bears interest at a rate of 10% per annum. On December 13, 2021, a total of $160,000 in interest was paid. Pursuant to the Loan, the Company issued to the Lender a loan bonus comprising of 16,000,000 common share purchase warrants (the “Warrants”) with an expiry of five years and an exercise price of $0.05 per share. The Company entered into a Second Loan Amendment Agreement dated May 25, 2022, pursuant to which it agreed to a $100,000 increase to the existing Loan (the “Additional Loan”). The Additional Loan is unsecured, bears interest at a rate of 10% per annum and is repayable on or before the earlier of November 26, 2024, the occurrence of a default or on achievement of financing milestones. In connection with the Additional Loan, the Company issued to the Lender a loan bonus comprising of 1,176,470 common share purchase warrants (the "Bonus Warrants"), each entitling the holder to acquire one common share of the Company until November 26, 2024 at a price of $0.085 per share. On June 15, 2022, the Company obtained an additional short-term loan (the “Short-term Loan”) of $250,000 with an interest rate of 12% per annum from the Lender. In January 2023, the Company repaid the Additional Loan and Short-term Loan, including accrued interest accrued to the date of repayment. The change in the Loan balance is as follows: Nine months ended Year ended December 31, 2023 March 31, 2023 ($) ($) Opening balance 648,005 644,642 Principal advances - 350,000 Principal repayment - (350,000 ) Transaction costs - (99,191 ) Amortization of transaction costs 99,143 102,554 Closing balance 747,148 648,005

Flow Through Liability

Flow Through Liability	9 Months Ended
	Dec. 31, 2023
Flow Through Liability
FLOW THROUGH LIABILITY	10. FLOW THROUGH LIABILITY During the nine months ended December 31, 2023, the Company issued 15,384,615 flow-through shares at a price of $0.13 per share for gross proceeds of $2,000,000 (the “Financing”) and recognized a flow-through premium liability of $769,231 as the difference between the flow-through share price and the non-flow-through share price in the concurrent offering. During the nine months ended December 31, 2023, the Company did not incur qualifying exploration expenses, subsequent to the Financing. The flow-through premium liability outstanding relating to these flow-through shares is $769,231 as at December 31, 2023.

Share Capital and Reserves

Share Capital and Reserves	9 Months Ended
	Dec. 31, 2023
Share Capital and Reserves
Share Capital and Reserves	11. SHARE CAPITAL AND RESERVES (a) Authorized and outstanding share capital The Company’s authorized share capital consists of an unlimited number of common shares without par value (“Common Shares”) and an unlimited number of preferred shares. All issued Common Shares are fully paid. No preferred shares have been issued. On September 8, 2023, 100,000 common shares were issued pursuant to a property agreement at $0.075 per share. On August 20, 2020, 3,000,000 flow-through shares were issued pursuant to the exercise of warrants for gross proceeds of $150,000. On October 2, 2020, 2,000,000 flow-through shares were issued pursuant to the exercise of warrants for gross proceeds of $100,000. $100 related to flow-through tax filing has been deducted from the gross proceeds as issuance costs. Approximately $167,000 of the flow-through proceeds received were renounced to the shareholder as at December 31, 2020. On December 2, 2021, 6,000,000 flow-through shares were issued pursuant to the exercise of warrants for gross proceeds of $300,000. On December 1, 2023, 15,384,615 flow-through shares were issued pursuant to a flow-through private placement at a price of $0.13 each, totaling $2,000,000. As at December 31, 2023, the amount of flow-through proceeds remaining to be expended is approximately $2,245,000 (March 31, 2023 - $245,000). On December 1, 2023, 9,615,385 non-flow-through shares were issued pursuant to a non-flow-through private placement at a price of $0.08 each, totaling $769,231. The BCMETC cannot be claimed by the Company on mineral exploration expenses related to meeting expenditure commitments pursuant to the issue of flow-through shares; however, the BCMETC itself, once received, may be used for any purpose. As at December 31, 2023, there were 211,702,894 (March 31, 2023 – 186,602,894) Common Shares issued and outstanding. (b) Share purchase options On March 9, 2022, the Company granted 3,480,000 incentive stock options to certain associates to acquire an aggregate of 3,480,000 common shares at $0.12 per share, for a period of three to five years, of which approximately 50% are being granted to insiders (Note 12(a)). All of the options are subject to the required TSXV acceptance and customary vesting provisions over 24 months. The fair value of these options at issue was determined to be $366,912 using the Black-Scholes pricing model and based on the following assumptions: risk-free rate of 1.65%; expected volatility of 139%; underlying market price of $0.12; strike price of $0.12; expiry term of 3 - 5 years; and dividend yield of nil. On July 8, 2022, the Company entered into an Investor Relations Agreement (the “Agreement”) with Kin Communications Inc. (“Kin”). Pursuant to the Agreement, the Company granted Kin 1,000,000 stock options entitling Kin to purchase 1,000,000 common shares of the Company at a price of $0.11 per share for a period of five years. These options vest in four instalments of 25% each instalment, with the first instalment vesting 90 days after the effective date of the Agreement. The fair value of these options was determined at $88,486 using the Black-Scholes pricing model based on the following assumptions: risk-free rate of 3.21%; expected volatility of 139%; underlying market price of $0.10; strike price of $0.11; expiry term of 5 years; and dividend yield of nil. On April 11, 2023, the Company granted 520,000 incentive stock options to certain associates to acquire an aggregate of 520,000 common shares at $0.125 per share, for a period of three years, of which 200,000 options were granted to insiders (Note 12(a)). All of the options are subject to the required TSXV acceptance and customary vesting provisions over 24 months. The fair value of these options at issue was determined to be $49,647 using the Black-Scholes pricing model and based on the following assumptions: risk-free rate of 3.56%; expected volatility of 123%; underlying market price of $0.13; strike price of $0.125; expiry term of 3 years; and dividend yield of nil. The following summarizes changes in the Company’s share purchase options: December 31, 2023 March 31, 2023 Weighted Average Exercise Price Number of Options Weighted Average Exercise Price Number of Options Beginning balance 0.10 6,480,000 0.09 5,480,000 Granted 0.125 520,000 0.11 1,000,000 Ending balance 0.11 7,000,000 0.10 6,480,000 The following summarizes information on the options outstanding and exercisable as at December 31, 2023: Weighted Average Number of Number of Remaining Contractual Options Options Exercise price Expiry date Life (periods) Outstanding Exercisable $ 0.05 4-Oct-24 0.76 2,000,000 2,000,000 $ 0.12 9-Mar-25 1.19 2,580,000 1,720,000 $ 0.12 9-Mar-27 3.19 900,000 500,000 $ 0.11 8-Jul-27 3.52 1,000,000 1,000,000 $ 0.125 11-Apr-26 2.28 520,000 156,000 1.74 7,000,000 5,376,000 (c) Share purchase warrants The following common summarizes changes in the Company’s share purchase warrants: December 31, 2023 March 31, 2023 Weighted Average Exercise Price Number of Warrants Weighted Average Exercise Price Number of Warrants Beginning balance 0.06 6,176,470 0.05 5,000,000 Granted pursuant to the Loan (Note 9) – 0.085 1,176,470 Granted pursuant to a private placement 0.08 4,807,693 – Ending balance 0.07 10,984,163 0.06 6,176,470 (i) 2019 loan bonus warrants In December 2019, 16,000,000 share purchase warrants were issued pursuant to the Loan (Note 9). The fair value of these warrants at issue was determined to be $490,449 at $0.03 per warrant using the Black-Scholes pricing model and based on the following assumptions: risk-free rate of 1.57%; expected volatility of 144%; underlying market price of $0.035; strike price of $0.05; expiry term of 5 years; and dividend yield of nil. (ii) 2022 loan bonus warrants In June 2022, 1,176,470 share purchase warrants were issued pursuant to the Loan (Note 9). The fair value of these warrants at issue was determined to be $99,191 at $0.085 per warrant using the Black-Scholes pricing model and based on the following assumptions: risk-free rate of 3.28%; expected volatility of 138%; underlying market price of $0.11; strike price of $0.085; expiry term of 2.45 years; and dividend yield of nil. (iii) 2023 non-flow-through warrants In December 2023, 4,807,693 share purchase warrants were issued pursuant to a non-flow-through private placement. The share purchase warrants have a strike price of $0.08, an expiry term of 5 years, and are subject to a blocker term that prohibits exercise of the warrants to the extent the holder would as a result of any exercise exceed 19.99% of the issued shares.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2023
Related Party Transactions
Related Party Transactions	12. RELATED PARTY TRANSACTIONS December 31, 2023 March 31, 2023 Balances due to related parties ($) ($) Hunter Dickinson Services Inc. 93,859 327,348 Robert Dickinson (interest payable) 25,205 190,082 United Mineral Services Ltd. 7,586 7,586 Thomas Wilson (CFO fees) 5,496 5,496 Total 132,146 530,512 (a) Transactions with key management personnel Key management personnel (“KMP”) are those persons that have the authority and responsibility for planning, directing, and controlling the activities of the Company, directly and indirectly, and by definition include all the directors of the Company. Note 9 includes the details of a director’s loan. Note 7(b) and 7(c) includes the details of the acquisition of mineral property interests from a private entity wholly-owned by one of the directors of the Company. During the nine month period ended December 31, 2023 and 2022, the Company’s President, Chief Executive Officer and Director and Corporate Secretary provided services to the Company under a service agreement with Hunter Dickinson Services Inc. (Note 12(b)). During the nine month period ended December 31, 2023, the Company recorded share-based compensation expense of $35,037 (December 31, 2022 - $64,046) in relation to 1,950,000 (December 31, 2022 – 1,750,000) stock options issued to directors and officers of the Company in the prior year (Note 10 (b)). During the nine month period ended December 31, 2023, the Company incurred fees totaling $47,107 (2022 -$27,000) in respect of services provided by the Chief Financial Officer. During the nine month period ended December 31, 2023, the Company incurred fees totaling $159,165 (2022 - $41,461) in respect of geological services provided by the VP Exploration. (b) Hunter Dickinson Services Inc. Hunter Dickinson Inc. (“HDI”) and its wholly-owned subsidiary Hunter Dickinson Services Inc. (“HDSI”) are private companies established by a group of mining professionals. HDSI provides contract services for a number of mineral exploration and development companies, and also to companies that are outside of the mining and mineral development space. Amarc acquires services from a number of related and arms-length contractors, and it is at Amarc’s discretion that HDSI provides certain contract services. The Company has one director in common with HDSI, namely Robert Dickinson. Also, the Company’s President, Chief Executive Officer and Director, and Corporate Secretary are contracted to work for the Company under an employee secondment agreement between the Company and HDSI. Pursuant to an agreement dated July 2, 2010, HDSI provides certain cost effective technical, geological, corporate communications, regulatory compliance, and administrative and management services to the Company, on a non-exclusive basis as needed and as requested by the Company. As a result of this relationship, the Company has ready access to a range of diverse and specialized expertise on a regular basis, without having to engage or hire full-time employees or experts. The Company benefits from the economies of scale created by HDSI which itself serves several clients both within and external to the exploration and mining sector. The Company is not obligated to acquire any minimum amount of services from HDSI. The monetary amount of the services received from HDSI in a given period of time is a function of annually set and agreed charge-out rates for and the time spent by each HDSI employee engaged by the Company. HDSI also incurs third-party costs on behalf of the Company. Such third-party costs include, for example, capital market advisory services, communication services and office supplies. Third-party costs are billed at cost, without markup. There are no ongoing contractual or other commitments resulting from the Company’s transactions with HDSI, other than the payment for services already rendered and billed. The agreement may be terminated upon 60 days’ notice by either the Company or HDSI. The following is a summary of transactions with HDSI that occurred during the reporting period: Nine months ended December 31, 2023 2022 (rounded to the nearest thousand CAD) ($) ($) Services received from HDSI and as requested by the Company 923,000 686,000 Information technology – infrastructure and support services 45,000 45,000 Office rent 32,000 43,000 Reimbursement, at cost, of third-party expenses incurred by HDSI on behalf of the Company 222,000 120,000 Total 1,222,000 894,000 (c) United Mineral Services Ltd. United Mineral Services Ltd. (“UMS”) is a private company wholly-owned by one of the directors of the Company. UMS is engaged in the acquisition and exploration of mineral property interests. During the nine month period ended December 31, 2023, the Company incurred fees of $14,340 (2022 - $nil) in respect of geological services provided by UMS.

Supplementary Information To Th

Supplementary Information To The Consolidated Statement Of Loss	9 Months Ended
	Dec. 31, 2023
Supplementary Information To The Consolidated Statement Of Loss
Supplementary Information To The Consolidated Statement Of Loss	13. SUPPLEMENTARY INFORMATION TO THE CONSOLIDATED STATEMENTS OF LOSS (a) Salaries, fees and benefits Salaries, fees and benefits included in exploration and evaluation expenses and administration expenses are as follows: Nine months ended December 31, 2023 2022 Salaries, fees and benefits ($) ($) Exploration and evaluation expenses 3,834,000 4,494,000 Administration expenses 241,000 172,000 4,075,000 4,666,000 (1) rounded to the nearest thousand dollar (2) includes salaries and benefits included in office and administration expenses (Note 12(b)) and other salaries and benefits expenses classified as administration expenses (b) Office and administration expenses Office and administration expenses include the following: Nine months ended December 31, 2023 2022 ($) ($) Salaries and Benefits 235,000 171,000 Data processing and retention 17,000 11,000 Insurance 22,000 22,000 Other office expenses 22,000 15,000 296,000 219,000 (1)

Office Lease Right Of Use Asset

Office Lease Right Of Use Asset And Lease Liability	9 Months Ended
	Dec. 31, 2023
Office Lease Right Of Use Asset And Lease Liability
Office Lease - Right Of Use Asset And Lease Liability	14. OFFICE LEASE – RIGHT OF USE ASSET AND LEASE LIABILITY The Company subleases corporate offices in Vancouver, BC from HDSI under a lease agreement dated May 1, 2021, and the lease expires on April 29, 2026. Right-of-use asset A summary of the changes in the right-of-use asset for the nine month period ended December 31, 2023 and the year ended March 31, 2023 are as follows: Right-of-use-asset ($) Balance at March 31, 2022 82,384 Amortization (20,176 ) Balance at March 31, 2023 62,208 Amortization (15,132 ) Balance at December 31, 2023 47,076 Lease liability On May 1, 2021, the Company entered into the lease agreement, which resulted in the lease liability of $100,877 (undiscounted value of $134,766, discount rate used is 12.00%). This liability represents the monthly lease payment from May 1, 2021 to April 29, 2026, the end of the lease term less abatement granted by HDSI. A summary of changes in the lease liability during the nine month period ended December 31, 2023 and the year ended March 31, 2023 are as follows: Lease liability ($) Balance at March 31, 2022 90,028 Lease payment – base rent portion (26,745 ) Lease liability – accretion expense 9,620 Balance as at Mach 31, 2023 72,903 Current portion 20,696 Long-term portion 52,207 Lease liability ($) Balance at March 31, 2023 72,903 Lease payment – base rent portion (21,014 ) Lease liability – accretion expense 5,755 Balance as at December 31, 2023 57,644 Current portion 22,754 Long-term portion 34,890 The following is a schedule of the Company’s future lease payments (base rent portion) under the lease obligations: Future lease payments (base rent portion only) ($) Fiscal 2024 (January 1, 2024 to March 31, 2024) 7,041 Fiscal 2025 (April 1, 2024 to March 31, 2025) 28,165 Fiscal 2026 (April 1, 2025 to March 31, 2026) 28,165 Fiscal 2027 (April 1, 2026 to April 29, 2027) (Note 6) 2,347 Total undiscounted lease payments 65,718 Less: imputed interest (8,074 ) Lease liability as at December 31, 2023 57,644

Financial Risk Management

Financial Risk Management	9 Months Ended
	Dec. 31, 2023
Financial Risk Management
Financial Risk Management	15. FINANCIAL RISK MANAGEMENT (a) Capital management objectives The Company’s primary objectives when managing capital are to safeguard the Company’s ability to continue as a going concern so that it can continue to provide returns for shareholders, and to have sufficient liquidity available to fund ongoing expenditures and suitable business opportunities as they arise. The Company considers the components of shareholders’ equity as well as its cash as capital. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may issue equity, sell assets, or return capital to shareholders as well as issue or repay debt. The Company’s investment policy is to invest its cash in highly liquid, short-term, interest-bearing investments having maturity dates of three months or less from the date of acquisition, which are readily convertible into known amounts of cash. The Company is not subject to any imposed equity requirements. There were no changes to the Company’s approach to capital management during the nine month period ended December 31, 2023. (b) Carrying amounts and fair values of financial instruments The Company’s marketable securities are carried at fair value based on quoted prices in active markets. As at December 31, 2023 and March 31, 2023, the carrying values of the Company’s financial assets and financial liabilities approximate their fair values. (c) Financial instrument risk exposure and risk management The Company is exposed in varying degrees to a variety of financial instrument-related risks. The Board of Directors approves and monitors the risk management processes, inclusive of documented treasury policies, counterparty limits, and controlling and reporting structures. The type of risk exposure and the way in which such exposure is managed is provided as follows: Credit risk Credit risk is the risk of potential loss to the Company if a counterparty to a financial instrument fair to meet its contractual obligations. The Company’s credit risk is primarily attributable to its liquid financial assets, including cash, and amounts receivable and other assets. The carrying values of these financial assets represent the Company’s maximum exposure to credit risk. The Company limits the exposure to credit risk by only investing its cash in high-credit quality financial institutions in business and savings accounts, which are available on demand by the Company for its programs. Liquidity risk Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or other financial assets. The Company ensures that there is sufficient cash in order to meet its short-term business requirements after taking into account the Company’s holdings of cash. The Company has sufficient cash to meet its commitments associated with its financial liabilities in the near term, other than the amounts payable to related parties. Interest rate risk The Company is subject to interest rate risk with respect to its investments in cash. The Company’s policy is to invest cash at variable rates of interest and cash reserves are to be maintained in cash in order to maintain liquidity, while achieving a satisfactory return for shareholders. Fluctuations in interest rates when cash matures impact interest income earned. As at December 31, 2023 and March 31, 2023, the Company’s exposure to interest rate risk was nominal. Price risk Equity price risk is defined as the potential adverse impact on the Company’s earnings due to movements in individual equity prices or general movements in the level of the stock market. The Company is subject to price risk in respect of its investments in marketable securities. As at December 31, 2023 and March 31, 2023, the Company’s exposure to price risk was not significant in relation to these Financial Statements.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2023
Significant Accounting Policies
Statement of Compliance	These Financial Statements have been prepared in accordance with IAS 34, Interim Financial Reporting (“IAS 34”), as issued by the International Accounting Standards Board (“IASB”) and the interpretations by the IFRS Interpretation Committee (“IFRIC”). These Financial Statements do not include all of the information and footnotes required by International Financial Reporting Standards (“IFRS”) for complete financial statements for year-end reporting purposes. These Financial Statements should be read in conjunction with the Company’s consolidated financial statements as at and for the year ended March 31, 2023. Results for the reporting period ended December 31, 2023 are not necessarily indicative of future results. The accounting policies and methods of computation applied by the Company in these Financial Statements are the same as those applied by the Company in its more recent annual financial statements, which are filed under the Company’s provide on SEDAR at www.sedarplus.ca. The Board of Directors of the Company authorized these Financial Statements for issuance on February 28, 2024.
Basis of Presentation and Consolidation	These Financial Statements have been prepared on a historical cost basis, except for certain financial instruments classified as fair value through other comprehensive income, which are reported at fair value. In addition, these Financial Statements have been prepared using the accrual basis of accounting, except for cash flow information. These Financial Statements include the financial statements of the Company and its wholly-owned subsidiary, 1130346 B.C. Ltd., (the “Subco”) incorporated under the laws of British Columbia. The Subco was incorporated for the purposes of entering into an option agreement related to the JOY District. On March 31, 2021, the Subco was dissolved, did not have any assets, liabilities, income or expenses, and all intercompany balances and transactions had been eliminated. Certain comparative amounts have been reclassified to conform to the presentation adopted in the current period.
Significant Accounting Estimates and Judgments	The critical estimates and judgements applied in the preparation of these Financial Statements are consistent with those applied in the Company’s audited consolidated financial statements as at and for the year ended March 31, 2023.
Operating Segments	The Company operates as a single reportable segment—the acquisition, exploration and development of mineral properties. All assets are held in Canada. The functional and presentational currency of the Company is the Canadian Dollar (“CAD”).

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Dec. 31, 2023
Marketable Securities
Schedule of Marketable securities	Shares/Warrants Held Cost Fair Value Fair Value Increase (Decrease) (#) ($) ($) ($) Carlyle Commodities Corp – Shares 550,000 907,500 66,000 (841,500 ) Carlyle Commodities Corp – Warrants 550,000 727,000 17,000 (710,000 ) Other 1,329,189 14,237 13,837 (400 ) Total 2,429,189 1,648,737 96,837 (1,551,900 )

Amounts Receivable and Other _2

Amounts Receivable and Other Assets (Tables)	9 Months Ended
	Dec. 31, 2023
Amounts Receivable and Other Assets
Schedule of amounts receivable and other assets	December 31, 2023 March 31, 2023 ($) ($) Sales tax refundable 98,729 199,184 Prepaid 7,877 19,167 106,606 218,351

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities
Schedule of accounts payable and accrued liabilities	December 31, 2023 March 31, 2023 ($) ($) Accounts payable 312,410 944,393 Accrued liabilities 264,980 236,470 Total 577,390 1,180,863

Directors Loans (Tables)

Directors Loans (Tables)	9 Months Ended
	Dec. 31, 2023
Directors Loans
Schedule of unsecured loans payable	Nine months ended Year ended December 31, 2023 March 31, 2023 ($) ($) Opening balance 648,005 644,642 Principal advances - 350,000 Principal repayment - (350,000 ) Transaction costs - (99,191 ) Amortization of transaction costs 99,143 102,554 Closing balance 747,148 648,005
Schedule of Non-Current Portion	Nine months ended Year ended December 31, 2023 March 31, 2023 ($) ($) Non-current portion 747,148 648,005 Total 747,148 648,005
Schedule of Finance Expenses	Finance expenses Nine months ended December 31, 2023 2022 ($) ($) Interest on loan 75,342 99,574 Amortization of transaction costs 99,143 74,485 Total 174,485 174,059

Share Capital and Reserves (Tab

Share Capital and Reserves (Tables)	9 Months Ended
	Dec. 31, 2023
Share Capital and Reserves
Schedule of purchase options	December 31, 2023 March 31, 2023 Weighted Average Exercise Price Number of Options Weighted Average Exercise Price Number of Options Beginning balance 0.10 6,480,000 0.09 5,480,000 Granted 0.125 520,000 0.11 1,000,000 Ending balance 0.11 7,000,000 0.10 6,480,000
Schedule of options outstanding and exercisable	Weighted Average Number of Number of Remaining Contractual Options Options Exercise price Expiry date Life (periods) Outstanding Exercisable $ 0.05 4-Oct-24 0.76 2,000,000 2,000,000 $ 0.12 9-Mar-25 1.19 2,580,000 1,720,000 $ 0.12 9-Mar-27 3.19 900,000 500,000 $ 0.11 8-Jul-27 3.52 1,000,000 1,000,000 $ 0.125 11-Apr-26 2.28 520,000 156,000 1.74 7,000,000 5,376,000
Schedule of share purchase warrants	December 31, 2023 March 31, 2023 Weighted Average Exercise Price Number of Warrants Weighted Average Exercise Price Number of Warrants Beginning balance 0.06 6,176,470 0.05 5,000,000 Granted pursuant to the Loan (Note 9) – 0.085 1,176,470 Granted pursuant to a private placement 0.08 4,807,693 – Ending balance 0.07 10,984,163 0.06 6,176,470

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Dec. 31, 2023
Statement [Line Items]
Schedule of balances due to related parties	December 31, 2023 March 31, 2023 Balances due to related parties ($) ($) Hunter Dickinson Services Inc. 93,859 327,348 Robert Dickinson (interest payable) 25,205 190,082 United Mineral Services Ltd. 7,586 7,586 Thomas Wilson (CFO fees) 5,496 5,496 Total 132,146 530,512
Hunter Dickinson Services Inc.
Statement [Line Items]
Schedule of related party transactions	Nine months ended December 31, 2023 2022 (rounded to the nearest thousand CAD) ($) ($) Services received from HDSI and as requested by the Company 923,000 686,000 Information technology – infrastructure and support services 45,000 45,000 Office rent 32,000 43,000 Reimbursement, at cost, of third-party expenses incurred by HDSI on behalf of the Company 222,000 120,000 Total 1,222,000 894,000

Supplementary Information To _2

Supplementary Information To The Consolidated Statements Of Loss (Tables)	9 Months Ended
	Dec. 31, 2023
Schedule Of Employees Salaries, fees and Benefits	Nine months ended December 31, 2023 2022 Salaries, fees and benefits ($) ($) Exploration and evaluation expenses 3,834,000 4,494,000 Administration expenses 241,000 172,000 4,075,000 4,666,000
Schedule of Office And Administration Expenses	Nine months ended December 31, 2023 2022 ($) ($) Salaries and Benefits 235,000 171,000 Data processing and retention 17,000 11,000 Insurance 22,000 22,000 Other office expenses 22,000 15,000 296,000 219,000

Office Lease Right Of Use Ass_2

Office Lease Right Of Use Asset And lease liability (Tables)	9 Months Ended
	Dec. 31, 2023
Office Lease Right Of Use Asset And lease liability (Tables)
Schedule Of Right -Of-Use Asset	Right-of-use-asset ($) Balance at March 31, 2022 82,384 Amortization (20,176 ) Balance at March 31, 2023 62,208 Amortization (15,132 ) Balance at December 31, 2023 47,076
Summary of Changes In The Lease Liability	Lease liability ($) Balance at March 31, 2022 90,028 Lease payment – base rent portion (26,745 ) Lease liability – accretion expense 9,620 Balance as at Mach 31, 2023 72,903 Current portion 20,696 Long-term portion 52,207 Lease liability ($) Balance at March 31, 2023 72,903 Lease payment – base rent portion (21,014 ) Lease liability – accretion expense 5,755 Balance as at December 31, 2023 57,644 Current portion 22,754 Long-term portion 34,890
Summary Of Company Future Lease Payments	Future lease payments (base rent portion only) ($) Fiscal 2024 (January 1, 2024 to March 31, 2024) 7,041 Fiscal 2025 (April 1, 2024 to March 31, 2025) 28,165 Fiscal 2026 (April 1, 2025 to March 31, 2026) 28,165 Fiscal 2027 (April 1, 2026 to April 29, 2027) (Note 6) 2,347 Total undiscounted lease payments 65,718 Less: imputed interest (8,074 ) Lease liability as at December 31, 2023 57,644

NATURE AND CONTINUANCE OF OPE_2

NATURE AND CONTINUANCE OF OPERATIONS (Details Narrative) - CAD ($)	Dec. 31, 2023	Mar. 31, 2023
NATURE AND CONTINUANCE OF OPERATIONS (Details Narrative)
Cash	$ 5,087,086
Working capital	2,222,042
Accumulated deficit	$ (69,537,229)	$ (69,984,263)

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	9 Months Ended
	Dec. 31, 2023
Significant Accounting Policies
Reportable segment, description	The Company operates as a single reportable segment

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details)	9 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 CAD ($) shares
Statement [Line Items]
Shares/Warrants Held | shares	2,429,189	2,429,189
Cost		$ 1,648,737
Fair Value		96,837
Fair Value Increase(Decrease)		$ (1,551,900)
Carlyle Commodities Corp. Shares [Member]
Statement [Line Items]
Shares/Warrants Held | shares	550,000	550,000
Cost	$ 907,500
Fair Value	66,000
Fair Value Increase(Decrease)	$ (841,500)
Carlyle Commodities Corp. Warrants
Statement [Line Items]
Shares/Warrants Held | shares	550,000	550,000
Cost		$ 727,000
Fair Value		17,000
Fair Value Increase(Decrease)		$ (710,000)
Other
Statement [Line Items]
Shares/Warrants Held | shares	1,329,189	1,329,189
Cost		$ 14,237
Fair Value		13,837
Fair Value Increase(Decrease)		$ (400)

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Narrative) - Carlyle Commodities Corp. Shares [Member] - CAD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Statement [Line Items]
Shares/Warrants held	550,000
Fair value	$ 96,837		$ 139,284
Fair value increase/decrease	$ (42,447)	$ (58,638)

AMOUNTS RECEIVABLE AND OTHER _3

AMOUNTS RECEIVABLE AND OTHER ASSETS (Details) - CAD ($)	Dec. 31, 2023	Mar. 31, 2023
Amounts Receivable and Other Assets
Sales tax refundable	$ 98,729	$ 199,184
Prepaid insurance and expense	7,877	19,167
Total	$ 106,606	$ 218,351

EXPLORATION AND EVALUATION EX_2

EXPLORATION AND EVALUATION EXPENSES AND COST RECOVERIES (Details Narrative)

1 Months Ended

9 Months Ended

12 Months Ended

Sep. 05, 2023 USD ($) shares

May 11, 2021 CAD ($)

Nov. 22, 2022

Oct. 21, 2022 CAD ($)

May 16, 2022 CAD ($)

Mar. 31, 2020 CAD ($)

Nov. 30, 2019 CAD ($)

Jan. 31, 2019 CAD ($) shares

Oct. 31, 2018 CAD ($) shares

Nov. 30, 2016 CAD ($)

Dec. 31, 2023 CAD ($) shares

Dec. 31, 2023 USD ($) shares

Mar. 31, 2022 CAD ($)

Dec. 31, 2019 shares

Statement [Line Items]

Common shares issue | shares

15,384,615

15,384,615

Duke District [Member]

Statement [Line Items]

Royalty interest

100%

Acquire interest

100%

Returns royalty retained

2%

Ownership amount

$ 10

Common stock shares issued | shares

200,000

Cash payments

$ 250,000

IKE District [Member]

Statement [Line Items]

Royalty interest

1%

1%

Royalty obligation

$ 5,000,000

Gold Fields Toodoggone Exploration Corporation [Member]

Statement [Line Items]

Common shares issue | shares

300,000

5,000,000

Percentage of property purchase

100%

100%

Cash payments

$ 100,000

$ 1,000,000

Description of retains profits interest

GFTEC retains a 2.5% net profits interest (“NPI”) royalty on mineral claims comprising approximately 96% of the PINE Property, which are subject to a NSR royalty payable to a former owner (“Underlying NSR”) and a 1% NSR royalty on the balance of the claims that are not subject to the Underlying NSR royalty. The NPI royalty can be reduced to 1.25% at any time through the payment to GFTEC of $2.5 million in cash or shares. The NSR royalty can be reduced to 0.5% through the payment to GFTEC of $2.5 million in cash or shares

GFTEC retains a 2.5% net profits interest (“NPI”) royalty on mineral claims comprising approximately 96% of the PINE Property, which are subject to a NSR royalty payable to a former owner (“Underlying NSR”) and a 1% NSR royalty on the balance of the claims that are not subject to the Underlying NSR royalty. The NPI royalty can be reduced to 1.25% at any time through the payment to GFTEC of $2.5 million in cash or shares. The NSR royalty can be reduced to 0.5% through the payment to GFTEC of $2.5 million in cash or shares

Joy Property Mineral [Member]

Statement [Line Items]

Owenership percentage

100%

Direct acquisition costs

$ 335,299

JOY District Agreement with Freeport [Member]

Statement [Line Items]

Owenership percentage

70%

Initial interest

60%

Required fund

$ 35,000,000

Work expenditures term

5 years

Earning description

Upon Freeport earning such 60% interest, it can elect, in its sole discretion, to earn an additional 10% interest, for a total 70% interest by sole funding a further $75 million within the following five years

Project costs

$ 4,922,827

Granite Property Mineral [Member]

Statement [Line Items]

Royalty interest

2%

2%

Royalty amount payment

$ 1,500,000

Royalty obligation

$ 2,000,000

Additional royalty interest

2.50%

2.50%

Paula Property[Member]

Statement [Line Items]

Royalty interest

1%

Percentage of property purchase

100%

Cash payments

$ 500,000

Duke Property Mineral [Member] | Duke District [Member]

Statement [Line Items]

Royalty interest

70%

Exploration and development expenditures

$ 30,000,000

$ 5,000,000

Owenership percentage

100%

Acquisition costs

$ 168,996

Additional add on exploration and development expenditures

$ 60,000,000

Description about exploration and development expenditures

a minimum rate of $10 million per year over the ensuing six years

a minimum rate of $10 million per year over the ensuing six years

Cost recovery expenditure

$ 5,054,064,000,000

Rvenue from project

$ 375,000

Other Property Transactions [Member]

Statement [Line Items]

Expected life

4 years 11 months 23 days

4 years 11 months 23 days

Expected volatility

139%

139%

Dividend yield

0%

0%

Initial interest rate

51%

Risk free-interest rate

0.38%

0.38%

Received non refundable payment from option

$ 200,000

Exploration and development expenditures

$ 4,200,000

Owenership percentage

100%

Description of consideration comprising

the Company received $300,000 in cash from IMC and 5.5 million common shares and 5.5 million warrants of Carlyle as consideration. The 5.5 million common shares were measured at $907,500 based on the fair market value of $0.165 per share on the Closing Date. The 5.5 million warrants were measured at $727,000 using the Black-Scholes option pricing model

the Company received $300,000 in cash from IMC and 5.5 million common shares and 5.5 million warrants of Carlyle as consideration. The 5.5 million common shares were measured at $907,500 based on the fair market value of $0.165 per share on the Closing Date. The 5.5 million warrants were measured at $727,000 using the Black-Scholes option pricing model

Description of post consolidated warrants

As Carlyle consolidated its common shares on a basis of 10 to 1 on September 1, 2022, the 550,000 post-consolidated warrants are exercisable at $5 per warrant until December 8, 2025

As Carlyle consolidated its common shares on a basis of 10 to 1 on September 1, 2022, the 550,000 post-consolidated warrants are exercisable at $5 per warrant until December 8, 2025

Description of minerals claims option agreement

subject to a 2% NSR royalty in the event of commercial production on the property, payable until $10,000,000 has been paid after which the NSR royalty reduces to 0.5%

Payment for commercial production

$ 100,000

Payment for commercial production to subsequent year

shall pay $100,000 on or before May 31, 2023 and each year thereafter to, and including, May 31, 2031 until an aggregate of $1,000,000 has been paid to optionor

shall pay $100,000 on or before May 31, 2023 and each year thereafter to, and including, May 31, 2031 until an aggregate of $1,000,000 has been paid to optionor

PINE Property [Member]

Statement [Line Items]

Dividend yield

49%

Percentage of property purchase

51%

Joy District [Member]

Statement [Line Items]

Common shares issue | shares

5,277,778

Cascadero Copper Corporation [Member]

Statement [Line Items]

Dividend yield

100%

Accounts payable and accrued liabilities

Statement [Line Items]

Royalty interest

1%

1%

Royalty obligation

$ 2,000,000

Advance royalty payments

$ 50,000

Common shares issue | shares

500,000

500,000

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - CAD ($)	Dec. 31, 2023	Mar. 31, 2023
Accounts Payable and Accrued Liabilities
Accounts payable	$ 312,410	$ 944,393
Accrued liabilities	264,980	236,470
Total	$ 577,390	$ 1,180,863

DIRECTORS LOAN (Details)

DIRECTORS LOAN (Details)	9 Months Ended			12 Months Ended
	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CAD ($)	Mar. 31, 2022 CAD ($)
Directors Loans
Opening balance	$ 648,005		$ 648,005	$ 644,642
Principal advances	0			350,000
Principal repayments		$ 0		350,000
Transaction costs	0			(99,191)
Amortization of transaction costs	99,143		$ 74,485	102,554
Closing balance	$ 747,148	$ 747,148		$ 648,005

DIRECTORS LOAN (Details 1)

DIRECTORS LOAN (Details 1)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)	Mar. 31, 2022 CAD ($)	Mar. 31, 2021 CAD ($)	Dec. 31, 2019 CAD ($)
Directors Loans
Non-current portion	$ 747,148		$ 648,005
Total	$ 747,148	$ 747,148	$ 648,005	$ 648,005	$ 644,642	$ 1,000,000

DIRECTORS LOAN (Details 2)

DIRECTORS LOAN (Details 2) - CAD ($)	9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Directors Loans
Interest on loan	$ 75,342	$ 99,574
Amortization of transaction costs	99,143	74,485	$ 102,554
Total	$ 174,485	$ 174,059

DIRECTORS LOAN (Details Narrati

DIRECTORS LOAN (Details Narrative)		1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 13, 2021 CAD ($)	Jun. 15, 2023 CAD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2023 CAD ($) shares	Dec. 31, 2023 CAD ($) $ / shares	Dec. 31, 2022 CAD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)	Mar. 31, 2022 CAD ($)	Mar. 31, 2021 CAD ($)	Dec. 31, 2019 CAD ($)
Directors Loans
Interest rate		12%			10%
Short term loan		$ 250,000
Principal balance			$ 747,148		$ 747,148	$ 747,148		$ 747,148	$ 648,005	$ 648,005	$ 644,642	$ 1,000,000
Interest paid	$ 160,000		$ 25,205	$ 35,574	$ 75,342		$ 99,574
Loan bonus share issued, share | shares					16,000,000
Loan bonus share expiration					five years
Exercise price | $ / shares						$ 0.05
Loan Amendment Agreement					$ 100,000
Loan									$ 1,176,470
Bonus warrant exercise price | $ / shares						$ 0.085

FLOW THROUGH LIABILITY (Details

FLOW THROUGH LIABILITY (Details Narrative)	9 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
FLOW THROUGH LIABILITY (Details Narrative)
Flow through premium liability	$ 769,231
Common shares issue | shares	15,384,615
Shares price per shares | $ / shares	$ 0.13
Gross proceeds from flow-through shares	$ 2,000,000

SHARE CAPITAL AND RESERVES (Det

SHARE CAPITAL AND RESERVES (Details)	9 Months Ended	12 Months Ended
	Dec. 31, 2023 $ / shares	Mar. 31, 2023 $ / shares
Share Capital and Reserves
Number of options outstanding, beginning	6,480,000	5,480,000
Weighted average exercise price outstanding, beginning	$ 0.10	$ 0.09
Number of options Granted	520,000	1,000,000
Weighted average exercise price Granted	$ 0.125	$ 0.11
Number of options outstanding, ending	7,000,000	6,480,000
Weighted average exercise price outstanding, ending	$ 0.11	$ 0.10

SHARE CAPITAL AND RESERVES (D_2

SHARE CAPITAL AND RESERVES (Details 1)	9 Months Ended
	Dec. 31, 2023 $ / shares	Mar. 31, 2023 $ / shares	Mar. 31, 2022 $ / shares
Statement [Line Items]
Weighted average exercise price outstanding, beginning	$ 0.11	$ 0.10	$ 0.09
Number of options outstanding	7,000,000	6,480,000	5,480,000
Weighted average remaining contractual life (years)	1 year 8 months 26 days
Number of options exercisable	5,376,000
Exercise Price 1
Statement [Line Items]
Weighted average exercise price outstanding, beginning	$ 0.05
Number of options outstanding	2,000,000
Weighted average remaining contractual life (years)	9 months 3 days
Number of options exercisable	2,000,000
Exercise Price 2
Statement [Line Items]
Weighted average exercise price outstanding, beginning	$ 0.12
Number of options outstanding	2,580,000
Weighted average remaining contractual life (years)	1 year 2 months 8 days
Number of options exercisable	1,720,000
Exercise Price 3
Statement [Line Items]
Weighted average exercise price outstanding, beginning	$ 0.12
Number of options outstanding	900,000
Weighted average remaining contractual life (years)	3 years 2 months 8 days
Number of options exercisable	500,000
Exercise Price 4
Statement [Line Items]
Weighted average exercise price outstanding, beginning	$ 0.11
Number of options outstanding	1,000,000
Weighted average remaining contractual life (years)	3 years 6 months 7 days
Number of options exercisable	1,000,000
Exercise Price 5
Statement [Line Items]
Weighted average exercise price outstanding, beginning	$ 0.125
Number of options outstanding	520,000
Weighted average remaining contractual life (years)	2 years 3 months 10 days
Number of options exercisable	156,000

SHARE CAPITAL AND RESERVES (D_3

SHARE CAPITAL AND RESERVES (Details 2) - $ / shares	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Share Capital and Reserves
Number of warrants, beginning	6,176,470	5,000,000
Weighted average exercise price, beginning	$ 0.06	$ 0.05
Number of warrants granted		1,176,470
Weighted average exercise price Granted		$ 0.085
Number of warrants exercised	4,807,693
Weighted average exercise price exercised	$ 0.08
Number of warrants, ending	10,984,163	6,176,470
Weighted average exercise price, ending	$ 0.07	$ 0.06

SHARE CAPITAL AND RESERVES (D_4

SHARE CAPITAL AND RESERVES (Details Narrative)

1 Months Ended

9 Months Ended

12 Months Ended

Dec. 02, 2023 USD ($) $ / shares shares

Sep. 08, 2023 $ / shares shares

Apr. 11, 2023 USD ($) $ / shares shares

Jul. 08, 2022 $ / shares

Jul. 08, 2022 CAD ($) shares

Mar. 09, 2022 $ / shares

Mar. 09, 2022 CAD ($) shares

Dec. 02, 2021 CAD ($) shares

Oct. 02, 2020 CAD ($) shares

Jun. 30, 2022 CAD ($) shares

Aug. 20, 2020 CAD ($) shares

Dec. 31, 2019 CAD ($) shares

Dec. 31, 2023 USD ($) shares

Dec. 31, 2020 CAD ($)

Mar. 31, 2023 CAD ($) shares

Statement [Line Items]

Stock issued to exercise of warrants, shares

15,384,615

100,000

6,000,000

2,000,000

3,000,000

Stock issued to exercise of warrants, proceeds

$ 2,000,000

$ 300,000

$ 100,000

$ 150,000

Stock issued to exercise of warrants, non-flow-through shares proceeds | $

$ 769,231

Flow-through proceeds outstanding

$ 2,245,000

$ 245,000

Stock issaunce costs | $

$ 100

Renounced to shareholder | $

$ 167,000

Stock issued to exercise of warrants, non-flow-through shares

9,615,385

Share price | $ / shares

$ 0.13

$ 0.075

Non-flow-through shares price | $ / shares

$ 0.08

2019 Loan Bonus Warrants

Statement [Line Items]

Black-scholes fair value assumption description

risk-free rate of 1.57%; expected volatility of 144%; underlying market price of $0.035; strike price of $0.05; expiry term of 5 years; and dividend yield of nil

Share purchase warrants issued

16,000,000

Fair value of warrants issued | $

$ 490,449

2022 Loan Bonus Warrants

Statement [Line Items]

Black-scholes fair value assumption description

risk-free rate of 3.28%; expected volatility of 138%; underlying market price of $0.11; strike price of $0.085; expiry term of 2.45 years; and dividend yield of nil

Share purchase warrants issued

1,176,470

Fair value of warrants issued | $

$ 99,191

2023 Non Flow Tthrough Warrants Member

Statement [Line Items]

Share purchase warrants issued

4,807,693

Expiry term description

The share purchase warrants have a strike price of $0.08, an expiry term of 5 years, and are subject to a blocker term that prohibits exercise of the warrants to the extent the holder would as a result of any exercise exceed 19.99% of the issued shares

Share Purchase Option [Member]

Statement [Line Items]

Stock option granted

520,000

3,480,000

Aggregate common shares acquire

520,000

3,480,000

Share price | $ / shares

$ 0.125

$ 0.12

Stock granted term dscription

three years

three to five years

Stock granted to insiders

50%

Fair value of options

$ 49,647

$ 366,912

Black-scholes fair value assumption description

risk-free rate of 3.56%; expected volatility of 123%; underlying market price of $0.13; strike price of $0.125; expiry term of 3 years; and dividend yield of nil

risk-free rate of 1.65%; expected volatility of 139%; underlying market price of $0.12; strike price of $0.12; expiry term of 3 - 5 years; and dividend yield of nil

Investor Relations Agreement

Statement [Line Items]

Stock option granted

1,000,000

Aggregate common shares acquire

1,000,000

Share price | $ / shares

$ 0.11

Stock granted term dscription

five years

Options vest each instalments

25%

Fair value of options | $

$ 88,486

Black-scholes fair value assumption description

risk-free rate of 3.21%; expected volatility of 139%; underlying market price of $0.10; strike price of $0.11; expiry term of 5 years; and dividend yield of nil

Share Capital

Statement [Line Items]

Common shares issued

211,702,894

186,602,894

Common shares outstanding

211,702,894

186,602,894

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - CAD ($)	Dec. 31, 2023	Mar. 31, 2023
Statement [Line Items]
Balances due to related parties	$ 132,146	$ 530,512
Hunter Dickinson Services Inc.
Statement [Line Items]
Balances due to related parties	93,859	327,348
Robert Dickinson (Interest Payable)
Statement [Line Items]
Balances due to related parties	25,205	190,082
Thomas Wilson (CFO Fees) [Member]
Statement [Line Items]
Balances due to related parties	5,496	5,496
United Mineral Services Ltd.
Statement [Line Items]
Balances due to related parties	$ 7,586	$ 7,586

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - Hunter Dickinson Services Inc. - CAD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement [Line Items]
Services received from HDSI and as requested by the Company	$ 923,000	$ 686,000
Information technology - infrastructure and support services	45,000	45,000
Office rent	32,000	43,000
Reimbursement, at cost, of third-party expenses incurred by HDSI on behalf of the Company	222,000	120,000
Total	$ 1,222,000	$ 894,000

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - CAD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
United Mineral Services Ltd.
Statement [Line Items]
Company incurred fees	$ 14,340	$ 0
Directors and Officers
Statement [Line Items]
Stock options issued	1,950,000	1,750,000
Share-based compensation expense	$ 35,037	$ 64,046
Company incurred fees	159,165	41,461
Chief Financial Officer
Statement [Line Items]
Company incurred fees	$ 47,107	$ 27,000

SUPPLEMENTARY INFORMATION TO _3

SUPPLEMENTARY INFORMATION TO THE CONSOLIDATED STATEMENTS OF LOSS (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2022 USD ($)
Statement [Line Items]
Exploration and evaluation expenses			$ 3,834,000		$ 4,494,000
Administration expenses	$ 343,252	$ 212,667	794,633	$ 559,603
Salaries, fees and benefits [Member]
Statement [Line Items]
Wages And Salaries			4,075,000		4,666,000
Administration expenses			$ 241,000		$ 172,000

SUPPLEMENTARY INFORMATION TO _4

SUPPLEMENTARY INFORMATION TO THE CONSOLIDATED STATEMENTS OF LOSS (Details 1)	9 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 CAD ($)
Supplementary Information To The Consolidated Statement Of Loss
Salaries and benefits	$ 235,000	$ 171,000
Data processing and retention	17,000	11,000
Insurance	22,000	22,000
Other office expenses	22,000	15,000
Total	$ 296,000	$ 219,000

OFFICE LEASE RIGHT OF USE ASS_3

OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details)	9 Months Ended		12 Months Ended
	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)
OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details)
Beginning Period Right Of Use Of Assets		$ 62,208	$ 82,384
Amortization	$ (15,132)		(20,176)
Ending period Right Of Use Of Assets		$ 47,076	$ 62,208

OFFICE LEASE RIGHT OF USE ASS_4

OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details 1)	9 Months Ended		12 Months Ended
	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)
OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details)
Beginning period of lease liability		$ 72,903	$ 90,028
Lease payment- base rent portion	$ (21,014)		(26,745)
Lease liability - accretion expense	5,755		9,620
Ending period of lease liability		$ 57,644	72,903
Current portion	22,754		20,696
Long term portion	$ 34,890		$ 52,207

OFFICE LEASE RIGHT OF USE ASS_5

OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details 2) - CAD ($)		9 Months Ended
	May 02, 2021	Dec. 31, 2023
OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details)
April 1, 2023 to March 31, 2024		$ 7,041
April 1, 2024 to March 31, 2025		28,165
April 1, 2025 to March 31, 2026		28,165
April 1, 2026 to April 29, 2027		2,347
Total undiscounted lease payments		65,718
Less: inputed interest		(8,074)
Lease liability	$ 100,877	$ 57,644

OFFICE LEASE RIGHT OF USE ASS_6

OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details Narrative) - CAD ($)		9 Months Ended
	May 02, 2021	Dec. 31, 2023
OFFICE LEASE RIGHT OF USE ASSET AND LEASE LIABILITY (Details)
Lease liability	$ 100,877	$ 57,644
Undiscounted value	$ 134,766
Discount rate	12%
Description pf lease payments	lease payment from May 1, 2021 to April 29, 2026, the end of the lease term less abatement granted by HDSI