Scandium International Mining (SCYYF) 10-K 1 Apr 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Mar. 26, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-54416
Entity Registrant Name	Scandium International Mining Corp.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-1009717
Entity Address, Address Line One	2011 Phaeton Lane
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89521
City Area Code	775
Local Phone Number	355-9500
Title of 12(g) Security	Common Shares without par value
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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
Document Financial Statement Error Correction [Flag]	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 12,097,817
Entity Common Stock, Shares Outstanding (in shares)		355,860,813
Auditor Firm ID	731
Auditor Name	DAVIDSON & COMPANY LLP
Auditor Location	Vancouver, Canada
Entity Central Index Key	0001408146
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Assets [Abstract]
Cash	$ 1,021,956	$ 1,852,710
Prepaid expenses and receivables	40,211	33,541
Total Current Assets	1,062,167	1,886,251
Reclamation bond (Note 3)	11,037	10,699
Total Assets	1,777,257	2,601,003
Current
Accounts payable and accrued liabilities	60,782	127,263
Total Liabilities	349,259	1,507,724
Capital stock (Note 5) (Authorized: Unlimited number of common shares; Issued and outstanding: 355,860,813 (2022 – 355,860,813)	111,144,603	111,144,603
Treasury stock (Note 6) (1,033,333 common shares) (2022 – 1,033,333)	(1,264,194)	(1,264,194)
Additional paid in capital (Note 5)	7,306,631	7,019,116
Accumulated other comprehensive loss	(853,400)	(853,400)
Deficit	(114,905,642)	(114,952,846)
Total Shareholders’ Equity	1,427,998	1,093,279
Total Liabilities and Shareholders’ Equity	1,777,257	2,601,003
Warrant [Member]
Current
Derivative liability – warrants (Note 2 and 5)	283,373	1,194,885
Related Party [Member]
Current
Accounts payable with related parties (Note 4)	5,104	185,576
Equipment [Member]
Assets [Abstract]
Mineral property interests (Note 3)	$ 704,053	$ 704,053

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common Stock, Shares, Issued (in shares)	355,860,813	355,860,813
Common Stock, Shares, Outstanding (in shares)	355,860,813	355,860,813
Treasury Stock, Common, Shares (in shares)	1,033,333	1,033,333
Treasury Stock, Common, Shares (in shares)	1,033,333	1,033,333

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ / shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
EXPENSES
Amortization	$ 0	$ 2,932
Consulting (Note 4)	0	18,363
Exploration (recovery)	244,133	(959)
General and administrative	91,166	151,067
Insurance	31,198	31,064
Professional fees	88,161	96,797
Salaries and benefits	452,253	420,417
Travel	3,737	747
Operating Expenses	(910,648)	(720,428)
Foreign exchange gain (loss)	(3,365)	13,721
Accruals reversal (Note 8)	0	1,032,044
Interest income	39,851	0
Unrealized gain on derivative liability – warrants gain (Note 5)	921,366	525,259
Income and comprehensive income for the period	$ 47,204	$ 850,596
Basic and diluted income per common share (in dollars per share)	$ 0	$ 0
Weighted average number of common shares outstanding – basic and diluted (in shares)	355,860,813	340,368,144

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Income for the period	$ 47,204	$ 850,596
Items not affecting cash:
Amortization	0	2,932
Stock-based compensation	287,515	198,280
Accrual reversal	0	(1,032,044)
Unrealized gain on derivative liability - warrants	(921,366)	(525,259)
Unrealized gain on foreign exchange	9,516	(60,890)
Changes in non-cash working capital items:
Decrease in prepaid expenses and receivables	(6,670)	1,501
Decrease in accounts payable, accrued liabilities and accounts payable with related parties	(246,953)	(382,831)
Net Cash Provided by (Used in) Operating Activities	(830,754)	(947,715)
CASH FLOWS FROM FINANCING ACTIVITIES
Common shares issued	0	2,647,852
Share issue costs	0	48,310
Options exercised for common shares	0	106,989
Net Cash Provided by (Used in) Financing Activities	0	2,706,531
Change in cash during the period	(830,754)	1,758,816
Cash, beginning of period	1,852,710	93,894
Cash, end of period	$ 1,021,956	$ 1,852,710

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Deficiency)	Common Stock [Member] USD ($) shares	Additional Paid-in Capital [Member] USD ($)	Treasury Stock, Common [Member] USD ($)	AOCI Attributable to Parent [Member] USD ($)	Retained Earnings [Member] USD ($)	USD ($) shares	CAD ($) shares
Balance (in shares) at Dec. 31, 2021 | shares	317,157,595
Balance at Dec. 31, 2021	$ 110,149,177	$ 6,891,510	$ (1,264,194)	$ (853,400)	$ (115,803,442)	$ (880,349)
Options exercised (in shares) | shares	900,000					900,000	900,000
Options exercised	$ 177,663	(70,674)	0	0	0	$ 106,989	$ 135,000
Private placement net of share issuance costs (in shares) | shares	37,803,218
Private placement net of share issuance costs	$ 2,599,542	0	0	0	0	2,599,542
Derivative liability	(1,781,779)	0	0	0	0	(1,781,779)
Stock-based compensation	0	198,280	0	0	0	198,280
Income for the period	$ 0	0	0	0	850,596	850,596
Balance (in shares) at Dec. 31, 2022 | shares	355,860,813
Balance at Dec. 31, 2022	$ 111,144,603	7,019,116	(1,264,194)	(853,400)	(114,952,846)	1,093,279
Stock-based compensation	0	287,515	0	0	0	287,515
Income for the period	$ 0	0	0	0	47,204	47,204
Balance (in shares) at Dec. 31, 2023 | shares	355,860,813
Balance at Dec. 31, 2023	$ 111,144,603	$ 7,306,631	$ (1,264,194)	$ (853,400)	$ (114,905,642)	$ 1,427,998

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 9B. OTHER INFORMATION None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 1 - Nature and Continuance

Note 1 - Nature and Continuance of Operations	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Nature of Operations [Text Block]	Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) 1. NATURE AND CONTINUANCE OF OPERATIONS Scandium International Mining Corp. (“The Company”) is a specialty metals and alloys company focusing on scandium and other specialty metals. The Company was incorporated under the laws of the Province of British Columbia, Canada in 2006. The Company currently trades on the Toronto Stock Exchange under the symbol “SCY”. The Company’s focus is on the exploration and evaluation of its specialty metals assets, specifically the Nyngan scandium deposit located in New South Wales, Australia. The Company is an exploration stage company and anticipates incurring significant additional expenditures prior to production at any and all of its properties. These consolidated financial statements have been prepared on a going concern basis that contemplates the realization of assets and discharge of liabilities at their carrying values in the normal course of business for the foreseeable future. These financial statements do not reflect any adjustments that may be necessary if the Company is unable to continue as a going concern. The Company currently earns no operating revenues and will require additional capital in order to advance the Nyngan property. The Company’s ability to continue as a going concern is uncertain and is dependent upon the generation of profits from mineral properties, obtaining additional financing and maintaining continued support from its shareholders and creditors. These are material uncertainties that raise substantial doubt about the Company’s ability to continue as a going concern. In the event that additional financial support is not received, or operating profits are not generated, the carrying values of the Company’s assets may be adversely affected. The outbreak of COVID-19 and political upheavals in various countries have caused significant volatility in commodity prices. While these effects are expected to be temporary, the duration of the business disruptions internationally and related financial impact cannot be reasonably estimated at this time.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES a) Basis of presentation These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America (“US GAAP”). These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, EMC Metals USA Inc., Scandium International Mining Corp. Norway AS, SCY Exploration Finland Oy and EMC Metals Australia Pty Ltd.(“EMC-A”). All significant intercompany accounts and transactions have been eliminated on consolidation. b) Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, asset impairment, stock-based compensation derivative liabilities, and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected. The Company considers Itself to be an exploration stage company and will consider the transition to development stage after it receives funding to begin mine construction, and board approval. c) Mineral interests and exploration and development costs The costs of acquiring mineral interests are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral interest is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral interests are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves. d) Asset retirement obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost). Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) e) Long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows or fair value in use related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. f) Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some part or all of the deferred tax asset will not be recognized. g) Earnings (loss) per share Basic earnings per common share is computed using the weighted average number of common shares outstanding during the year. To calculate diluted earnings (loss) per share, the Company uses the treasury stock method and the if converted method. As at December 31, 2023 there were 37,803,218 warrants outstanding (2022 – 37,803,218) 34,665,000) h) Foreign exchange The Company's and subsidiaries’ functional currency is the US Dollar (“USD”). Any monetary assets and liabilities that are in a currency other than the USD are translated at the rate prevailing at year end. Revenue and expenses in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into USD are included in current results of operations. Fixed assets and mineral properties have been translated at historical rates, the rate on the date of the transaction. i) Stock-based compensation The Company accounts for stock-based compensation under the provisions of Accounting Standard Codification (“ASC”) 718, “Compensation-Stock Compensation.” Under the fair value recognition provisions, stock-based compensation expense is measured at the grant date for all stock-based awards to employees, directors and non-employees and is recognized as an expense over the requisite service period, which is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value. j) Financial instruments The Company’s financial instruments consist of cash, receivables, accounts payable and accrued liabilities, accounts payable with related parties and derivative liability- warrants. It is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. Except for derivative liabilities, the fair values of these financial instruments approximate their carrying values unless otherwise noted. The Company has its cash primarily in three commercial banks, one in Los Angeles, California, United States of America, one in Hamilton, Ontario, Canada and one in Melbourne, Victoria, Australia. k) Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. As at December 31, 2023, the Company has exceeded the federally insured limit. The Company has not experienced any losses in such amounts and believes it is not exposed to any significant risks on its cash in bank accounts. l) Fair value of financial assets and liabilities The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. Financial instruments, including receivables, accounts payable and accrued liabilities, and accounts payable with related parties are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. The following table presents information about the assets and liabilities that are measured at fair value on a recurring basis as at December 31, 2023 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset: December 31, Quoted Prices Significant Other Significant Cash $ 1,021,956 $ 1,021,956 $ — $ — Derivative liability - warrants (283,373 ) — (283,373 ) — The fair values of cash are determined through market, observable and corroborated sources. m) Recently Adopted and Recently Issued Accounting Standards Accounting Standards Update 2023-07 – Segment Reporting (Topic 280). This update is to improve the disclosures about a public entity’s reportable segments through enhanced disclosures about significant segment expenses and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is reviewing this standard but anticipates little impact on its financial statements. Accounting Standards Update 2023-09 – Income Taxes (Topic 740). This update is to enhance the transparency and decision usefulness of income tax disclosures for fiscal years beginning after December 15, 2024. The Company is reviewing this standard to determine the impact on its financial statements.

Note 3 - Mineral Properties Int

Note 3 - Mineral Properties Interests	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Mineral Industries Disclosures [Text Block]	3. MINERAL PROPERTY INTERESTS Scandium and other Acquisition costs Balance, December 31, 2023, 2022, and 2021 $ 704,053 Title to mineral property interests involves certain inherent risks due to the difficulties of determining the validity of certain claims as well as the potential for problems arising from the frequently ambiguous conveyancing history characteristic of many mineral property interests. The Company has investigated title to all of its mineral property interests and, to the best of its knowledge, title to all of its properties is in good standing. SCANDIUM PROPERTIES Nyngan, New South Wales Property The Company holds a 100% interest in the Nyngan property in New South Wales, Australia (NSW). Royalties attached to the Nyngan property include a 0.7% royalty on gross mineral sales on the property, a 1.5% Net Profits Interest royalty to private parties involved with the early exploration on the property, and a 1.7% Net Smelter Returns royalty payable for 12 years after production commences. Another revenue royalty is payable to private interests of 0.2%, subject to a $370,000 cap. A NSW minerals royalty will also be levied on the project, subject to negotiation, currently 4% on revenue. Honeybugle property, Australia The Company holds a 100% interest in the Honeybugle property. Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) Kiviniemi Scandium Property Finland In August 2018, the Company was granted an Exploration License for the Kiviniemi Scandium Property in central Finland from the Finnish regulatory body governing mineral exploration and mining in Finland. As at December 31, 2023, the Company has a reclamation bond of $11,037 (€10,000), (December 31, 2022 - $10,699 (€10,000)). An application to extend the license for 3 years will not be submitted.

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4. RELATED PARTY TRANSACTIONS During the year ended December 31, 2023, the Company expensed $262,294 for stock-based compensation for stock options issued to Company directors. During the year ended December 31, 2022, the Company expensed $177,745 for stock options issued to Company directors. During the year ended December 31, 2023, the Company expensed a consulting fee of $ Nil As at December 31, 2023, the Company owed $5,104 (2022 - $185,576) to an officer of the Company. During the year ended December 31, 2023, the Company reversed $ NIL

Note 5 - Capital Stock and Addi

Note 5 - Capital Stock and Additional Paid in Capital	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Equity [Text Block]	5. CAPITAL STOCK AND ADDITIONAL PAID IN CAPITAL The holders of common stock are entitled to one not no During the year ended December 31, 2023, there were no share issuances pursuant to private placements or exercise of stock options. During the year ended December 31, 2022, the Company issued 37,803,218 units as part of a private placement valued at CAD$0.09 per unit. Each unit consists of one one one During the year ended December 31, 2022, the holders of 900,000 stock options exercised their options for 900,000 shares for $106,989 (CAD$135,000) at an exercise price of CAD$0.15 per share. During the year ended December 31, 2021, the holders of 3,125,000 stock options exercised their options for 3,125,000 shares for $297,815 (CAD$378,575) at an average exercised price of CAD$0.12. Warrants A summary of warrant activity for the year ended December 31, 2023, are as follows: Number of warrants Exercise price Expiry date Outstanding December 31, 2023 37,803,218 CAD$ 0.1075 A fair value of the derivative liability of $1,781,779 was estimated on the date of the subscription using the Black-Scholes pricing model. For the year ended December 31, 2023, there was a non-cash gain on derivative liability – warrants of $921,366 and an unrealized foreign exchange loss of $14,936 resulting in a fair value as at December 31, 2023 of $283,373 with the following weighted average assumptions: December 31, 2023 December 31, 2022 Exercise price CAD$ 0.1075 CAD$ 0.1075 Stock price CAD$ 0.025 CAD$ 0.07 Expected term (years) 3.5 4.5 Expected dividend yield - - Expected stock price volatility 100.02 % 91.71 % Risk-free interest rate 3.59 % 2.75 % Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) Stock Options The Company established a stock option plan (the “Plan”) under which it is authorized to grant options to executive officers and directors, employees and consultants and the number of options granted under the Plan shall not exceed 10% of the shares outstanding. Under the Plan, the exercise period of the options may not exceed ten Stock option transactions are summarized as follows: Stock Options Number Weighted average exercise price in Canadian $ Outstanding, December 31, 2021 34,615,000 $ 0.18 Granted 5,700,000 0.09 Exercised (900,000 ) 0.15 Expired (4,750,000 ) 0.37 Outstanding, December 31, 2022 34,665,000 0.14 Granted 11,400,000 0.035 Expired (6,050,000 ) 0.22 Outstanding, December 31, 2023 40,015,000 $ 0.10 Number currently exercisable 40,015,000 $ 0.10 As at December 31, 2023, incentive stock options were outstanding as follows: Number of Options (outstanding) Number of Options (exercisable) Exercise Price in Canadian $ Expiry Date Options 3,240,000 3,240,000 0.150 May 9, 2024 50,000 50,000 0.130 June 24, 2024 7,450,000 7,450,000 0.065 March 19, 2025 100,000 100,000 0.075 May 22, 2025 5,900,000 5,900,000 0.140 November 13, 2025 6,175,000 6,175,000 0.180 May 23, 2026 5,700,000 5,700,000 0.090 June 14, 2027 11,400,000 11,400,000 0.035 November 14, 2028 40,015,000 40,015,000 As at December 31, 2023 the Company’s outstanding and exercisable stock options have an aggregate intrinsic value of $ Nil Nil Stock-based compensation During the year ended December 31, 2023, the Company recognized stock-based compensation of $287,515 (December 31, 2022 - $198,279) (included in salaries and benefits) in the statement of profit or loss pursuant to stock options granted and vested. There were 11,400,000 stock options granted during the year ended December 31, 2023 (December 31, 2022 – 5,700,000). The weighted average fair value of the options granted in the year was CAD$0.035 (2022 - CAD$0.06). The fair value of all compensatory options granted is estimated on grant date using the Black-Scholes option pricing model. The weighted average assumptions used in calculating the fair values of stock options granted in the years ended December 31,2023 and December 31, 2022, are as follows: Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) 2023 2022 Risk-free interest rate 3.87 % 2.79 % Expected life (years) 5 5 Volatility 99.04 % 85.52 % Forfeiture rate 0.00 % 0.00 % Dividend rate 0.00 % 0.00 %

Note 6 - Treasury Stock

Note 6 - Treasury Stock	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Treasury Stock [Text Block]	6. TREASURY STOCK Number Amount Treasury shares, December 31, 2023, 2022, and 2021 1,033,333 $ 1,264,194 Treasury shares comprise shares of the Company which cannot be sold without the prior approval of the TSX.

Note 7 - Accruals Reversal

Note 7 - Accruals Reversal	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Writeoff of Accruals [Text Block]	7. ACCRUALS REVERSAL During the year ended December 31, 2022, the Company recognized a recovery on historical accruals it had recorded totaling $669,733 to related parties (Note 4) and $362,311 to former contractors and consultants pursuant to settlement agreements.

Segmented Information

Segmented Information	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	8. SEGMENTED INFORMATION The Company’s mineral properties are located in Australia. The Company’s capital assets’ geographic information is as follows: December 31, 2023 Australia Total Mineral property interests 704,053 704,053 $ 704,053 $ 704,053 December 31, 2022 Australia Total Mineral property interests 704,053 704,053 $ 704,053 $ 704,053 Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars)

Note 9 - Income Tax

Note 9 - Income Tax	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. INCOME TAX A reconciliation of income taxes at statutory rates with the reported taxes is as follows: 2023 2022 Income before income taxes $ 47,204 $ 850,596 Expected income tax (recovery) 13,000 221,000 Change in statutory, foreign exchange rates, and other 631,000 (330,000 ) Permanent difference (171,000 ) (350,000 ) Impact of foreign exchange - 171,000 Share issuance costs (13,000 ) (13,000 ) Adjustment to prior years provision versus statutory tax returns (258,000 ) 115,000 Change in unrecognized deductible temporary differences (202,000 ) 186,000 Total Income tax expense (recovery) $ - $ - The significant components of the Company s deferred tax assets that have not been included on the consolidated statement of financial position are as follows: 2023 2022 Deferred Tax Assets (Liabilities) Exploration and evaluation assets $ 1,871,000 $ 1,761,000 Property and equipment 136,000 118,000 Share issuance costs 8,000 10,000 Derivative liability 77,000 311,000 Allowable capital losses 1,882,000 1,773,000 Non-capital losses available for future periods 6,312,000 6,629,000 10,286,000 10,602,000 Unrecognized deferred tax assets (10,286,000 ) (10,602,000 ) Net deferred tax assets $ - $ - The significant components of the Company s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows: 2023 Expiry Date Range 2022 Expiry Date Range Temporary Differences Exploration and evaluation assets $ 7,012,000 No expiry date $ 6,640,000 No expiry date Property and equipment 514,000 No expiry date 455,000 No expiry date Derivative liability 283,000 2027 1,195,000 2027 Share issuance costs 29,000 2042 to 2046 39,000 2042 to 2046 Allowable capital losses 6,969,000 No expiry date 6,818,000 No expiry date Non-capital losses available for future periods 23,947,000 2028 to 2043 24,327,000 2028 to 2042

Note 10 - Supplemental Disclosu

Note 10 - Supplemental Disclosure with Respect to Cash Flows	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	10. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS During the year ended December 31, 2022, the Company recognized $1,781,779 as a derivative liability associated with warrants attached to a private placement financing as a non-cash transaction. There were no significant non-cash transactions during the year ended December 31, 2023. There were no

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	a) Basis of presentation These consolidated financial statements have been prepared in conformity with generally accepted accounting principles of the United States of America (“US GAAP”). These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, EMC Metals USA Inc., Scandium International Mining Corp. Norway AS, SCY Exploration Finland Oy and EMC Metals Australia Pty Ltd.(“EMC-A”). All significant intercompany accounts and transactions have been eliminated on consolidation.
Use of Estimates, Policy [Policy Text Block]	b) Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the deferred income tax asset valuations, asset impairment, stock-based compensation derivative liabilities, and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between estimates and the actual results, future results of operations will be affected. The Company considers Itself to be an exploration stage company and will consider the transition to development stage after it receives funding to begin mine construction, and board approval.
Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block]	c) Mineral interests and exploration and development costs The costs of acquiring mineral interests are capitalized at the date of acquisition. After acquisition, various factors can affect the recoverability of the capitalized costs. If, after review, management concludes that the carrying amount of a mineral interest is impaired, it will be written down to estimated fair value. Exploration costs incurred on mineral interests are expensed as incurred. Development costs incurred on proven and probable reserves will be capitalized. Upon commencement of production, capitalized costs will be amortized using the unit-of-production method over the estimated life of the ore body based on proven and probable reserves.
Asset Retirement Obligation [Policy Text Block]	d) Asset retirement obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development, and/or normal use of the long-lived assets. The Company also records a corresponding asset which is amortized over the life of the asset. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time (accretion expense) and changes in the estimated future cash flows underlying the obligation (asset retirement cost).
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	e) Long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the recoverability test is performed using undiscounted net cash flows or fair value in use related to the long-lived assets. If such assets are considered to be impaired, the impairment recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Income Tax, Policy [Policy Text Block]	f) Income taxes The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under the asset and liability method the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some part or all of the deferred tax asset will not be recognized.
Earnings Per Share, Policy [Policy Text Block]	g) Earnings (loss) per share Basic earnings per common share is computed using the weighted average number of common shares outstanding during the year. To calculate diluted earnings (loss) per share, the Company uses the treasury stock method and the if converted method. As at December 31, 2023 there were 37,803,218 warrants outstanding (2022 – 37,803,218) 34,665,000)
Foreign Currency Transactions and Translations Policy [Policy Text Block]	h) Foreign exchange The Company's and subsidiaries’ functional currency is the US Dollar (“USD”). Any monetary assets and liabilities that are in a currency other than the USD are translated at the rate prevailing at year end. Revenue and expenses in a foreign currency are translated at rates that approximate those in effect at the time of translation. Gains and losses from translation of foreign currency transactions into USD are included in current results of operations. Fixed assets and mineral properties have been translated at historical rates, the rate on the date of the transaction.
Share-Based Payment Arrangement [Policy Text Block]	i) Stock-based compensation The Company accounts for stock-based compensation under the provisions of Accounting Standard Codification (“ASC”) 718, “Compensation-Stock Compensation.” Under the fair value recognition provisions, stock-based compensation expense is measured at the grant date for all stock-based awards to employees, directors and non-employees and is recognized as an expense over the requisite service period, which is generally the vesting period. The Black-Scholes option valuation model is used to calculate fair value.
Fair Value of Financial Instruments, Policy [Policy Text Block]	j) Financial instruments The Company’s financial instruments consist of cash, receivables, accounts payable and accrued liabilities, accounts payable with related parties and derivative liability- warrants. It is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from its financial instruments. Except for derivative liabilities, the fair values of these financial instruments approximate their carrying values unless otherwise noted. The Company has its cash primarily in three commercial banks, one in Los Angeles, California, United States of America, one in Hamilton, Ontario, Canada and one in Melbourne, Victoria, Australia.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	k) Concentration of credit risk The financial instrument which potentially subjects the Company to concentration of credit risk is cash. The Company maintains cash in bank accounts that, at times, may exceed federally insured limits. As at December 31, 2023, the Company has exceeded the federally insured limit. The Company has not experienced any losses in such amounts and believes it is not exposed to any significant risks on its cash in bank accounts.
Fair Value Measurement, Policy [Policy Text Block]	l) Fair value of financial assets and liabilities The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Scandium International Mining Corp. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS December 31, 2023 (Expressed in US Dollars) Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. Financial instruments, including receivables, accounts payable and accrued liabilities, and accounts payable with related parties are carried at amortized cost, which management believes approximates fair value due to the short-term nature of these instruments. The following table presents information about the assets and liabilities that are measured at fair value on a recurring basis as at December 31, 2023 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset: December 31, Quoted Prices Significant Other Significant Cash $ 1,021,956 $ 1,021,956 $ — $ — Derivative liability - warrants (283,373 ) — (283,373 ) — The fair values of cash are determined through market, observable and corroborated sources.
New Accounting Pronouncements, Policy [Policy Text Block]	m) Recently Adopted and Recently Issued Accounting Standards Accounting Standards Update 2023-07 – Segment Reporting (Topic 280). This update is to improve the disclosures about a public entity’s reportable segments through enhanced disclosures about significant segment expenses and is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company is reviewing this standard but anticipates little impact on its financial statements. Accounting Standards Update 2023-09 – Income Taxes (Topic 740). This update is to enhance the transparency and decision usefulness of income tax disclosures for fiscal years beginning after December 15, 2024. The Company is reviewing this standard to determine the impact on its financial statements.

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	December 31, Quoted Prices Significant Other Significant Cash $ 1,021,956 $ 1,021,956 $ — $ — Derivative liability - warrants (283,373 ) — (283,373 ) —

Note 3 - Mineral Properties I_2

Note 3 - Mineral Properties Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Mineral Interests [Table Text Block]	Scandium and other Acquisition costs Balance, December 31, 2023, 2022, and 2021 $ 704,053

Note 5 - Capital Stock and Ad_2

Note 5 - Capital Stock and Additional Paid in Capital (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of warrants Exercise price Expiry date Outstanding December 31, 2023 37,803,218 CAD$ 0.1075
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Stock Options Number Weighted average exercise price in Canadian $ Outstanding, December 31, 2021 34,615,000 $ 0.18 Granted 5,700,000 0.09 Exercised (900,000 ) 0.15 Expired (4,750,000 ) 0.37 Outstanding, December 31, 2022 34,665,000 0.14 Granted 11,400,000 0.035 Expired (6,050,000 ) 0.22 Outstanding, December 31, 2023 40,015,000 $ 0.10 Number currently exercisable 40,015,000 $ 0.10
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	Number of Options (outstanding) Number of Options (exercisable) Exercise Price in Canadian $ Expiry Date Options 3,240,000 3,240,000 0.150 May 9, 2024 50,000 50,000 0.130 June 24, 2024 7,450,000 7,450,000 0.065 March 19, 2025 100,000 100,000 0.075 May 22, 2025 5,900,000 5,900,000 0.140 November 13, 2025 6,175,000 6,175,000 0.180 May 23, 2026 5,700,000 5,700,000 0.090 June 14, 2027 11,400,000 11,400,000 0.035 November 14, 2028 40,015,000 40,015,000
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2023 2022 Risk-free interest rate 3.87 % 2.79 % Expected life (years) 5 5 Volatility 99.04 % 85.52 % Forfeiture rate 0.00 % 0.00 % Dividend rate 0.00 % 0.00 %
Derivative Financial Instruments, Liabilities [Member]
Notes Tables
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	December 31, 2023 December 31, 2022 Exercise price CAD$ 0.1075 CAD$ 0.1075 Stock price CAD$ 0.025 CAD$ 0.07 Expected term (years) 3.5 4.5 Expected dividend yield - - Expected stock price volatility 100.02 % 91.71 % Risk-free interest rate 3.59 % 2.75 %

Note 6 - Treasury Stock (Tables

Note 6 - Treasury Stock (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Class of Treasury Stock [Table Text Block]	Number Amount Treasury shares, December 31, 2023, 2022, and 2021 1,033,333 $ 1,264,194

Segmented Information (Tables)

Segmented Information (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Long-Lived Assets by Geographic Areas [Table Text Block]	December 31, 2023 Australia Total Mineral property interests 704,053 704,053 $ 704,053 $ 704,053 December 31, 2022 Australia Total Mineral property interests 704,053 704,053 $ 704,053 $ 704,053

Note 9 - Income Tax (Tables)

Note 9 - Income Tax (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2023 2022 Income before income taxes $ 47,204 $ 850,596 Expected income tax (recovery) 13,000 221,000 Change in statutory, foreign exchange rates, and other 631,000 (330,000 ) Permanent difference (171,000 ) (350,000 ) Impact of foreign exchange - 171,000 Share issuance costs (13,000 ) (13,000 ) Adjustment to prior years provision versus statutory tax returns (258,000 ) 115,000 Change in unrecognized deductible temporary differences (202,000 ) 186,000 Total Income tax expense (recovery) $ - $ -
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2023 2022 Deferred Tax Assets (Liabilities) Exploration and evaluation assets $ 1,871,000 $ 1,761,000 Property and equipment 136,000 118,000 Share issuance costs 8,000 10,000 Derivative liability 77,000 311,000 Allowable capital losses 1,882,000 1,773,000 Non-capital losses available for future periods 6,312,000 6,629,000 10,286,000 10,602,000 Unrecognized deferred tax assets (10,286,000 ) (10,602,000 ) Net deferred tax assets $ - $ -
Schedule of Temporary Differences and Unused Credits and Losses [Table Text Block]	2023 Expiry Date Range 2022 Expiry Date Range Temporary Differences Exploration and evaluation assets $ 7,012,000 No expiry date $ 6,640,000 No expiry date Property and equipment 514,000 No expiry date 455,000 No expiry date Derivative liability 283,000 2027 1,195,000 2027 Share issuance costs 29,000 2042 to 2046 39,000 2042 to 2046 Allowable capital losses 6,969,000 No expiry date 6,818,000 No expiry date Non-capital losses available for future periods 23,947,000 2028 to 2043 24,327,000 2028 to 2042

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	37,803,218	37,803,218
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	40,015,000	34,665,000

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Fair Value of Assets and Liabilities on Recurring Basis (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2022
Warrant [Member]
Derivative liability - warrants	$ (283,373)	$ (1,781,779)	$ (1,781,779)
Fair Value, Recurring [Member] | Warrant [Member]
Derivative liability - warrants	(283,373)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Warrant [Member]
Derivative liability - warrants	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Warrant [Member]
Derivative liability - warrants	(283,373)
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Warrant [Member]
Derivative liability - warrants	0
Fair Value, Recurring [Member] | Cash [Member]
Cash	1,021,956
Fair Value, Recurring [Member] | Cash [Member] | Fair Value, Inputs, Level 1 [Member]
Cash	1,021,956
Fair Value, Recurring [Member] | Cash [Member] | Fair Value, Inputs, Level 2 [Member]
Cash	0
Fair Value, Recurring [Member] | Cash [Member] | Fair Value, Inputs, Level 3 [Member]
Cash	$ 0

Note 3 - Mineral Properties I_3

Note 3 - Mineral Properties Interests (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)
Regulatory Asset, Noncurrent	$ 11,037		$ 10,699
Nyngan Property [Member]
Royalty Percentage on Gross Mineral Sales	70%
Net Profits Interest Royalty Percentage	150%
Net Smelter Returns Royalty Percentage	170%
Revenue Royalty, Payable to Private Interest, Percentage	20%
Revenue Royalty, Payable to Private Interest, Cap	$ 370,000
Nsw Minerals Royalty, Percentage	400%
Nyngan Property [Member] | Scandium Properties [Member]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest	100%
Honeybugle Property [Member] | Scandium Properties [Member]
Subsidiary of Limited Liability Company or Limited Partnership, Ownership Interest	100%
Kiviniemi Scandium Property [Member] | Reclamation Bond [Member]
Regulatory Asset, Noncurrent	$ 11,037	€ 10,000	$ 10,699	$ 10,000

Note 3 - Mineral Properties I_4

Note 3 - Mineral Properties Interests - Mineral Properties Interests (Details)	Dec. 31, 2023 USD ($)
Balance, June 30, 2023, December 31, 2022	$ 704,053

Note 4 - Related Party Transa_2

Note 4 - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Expense	$ 287,515	$ 198,279
Accruals to Related Parties, Reversed	0	669,733
Related Party [Member] | Officer [Member]
Other Liabilities	5,104	185,576
Director [Member] | Consulting Fee [Member]
Related Party Transaction, Amounts of Transaction	0	17,000
Share-Based Payment Arrangement, Option [Member] | Director [Member]
Share-Based Payment Arrangement, Expense	$ 262,294	$ 177,745

Note 5 - Capital Stock and Ad_3

Note 5 - Capital Stock and Additional Paid in Capital (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares $ / shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2022 CAD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2021 CAD ($) $ / shares shares	Dec. 31, 2022 $ / shares	Jun. 30, 2022 USD ($)
Common Stock, Votes Per Share	1	1
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0
Common Stock, No Par Value (in dollars per share) | $ / shares	$ 0	$ 0
Number of Common Stock Per Unit | shares			1
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period | shares			900,000	900,000	3,125,000	3,125,000
Stock Issued During Period, Value, Stock Options Exercised			$ 106,989	$ 135,000	$ 297,815	$ 378,575
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | (per share)			$ 0.15	$ 0.15		$ 0.12
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $	$ 0	$ 0	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | $	0	$ 0	0
Share-Based Payment Arrangement, Expense | $	$ 287,515		$ 198,279
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | shares	11,400,000		5,700,000	5,700,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares		$ 0.035		$ 0.06
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Percentage of Outstanding Stock Maximum	10%
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period	10 years
Warrant [Member]
Derivative Liability | $	$ 283,373	$ 283,373	$ 1,781,779					$ 1,781,779
Derivative, Gain on Derivative | $	921,366
Unrealized Foreign Currency Transaction Gain Losses Unrealized | $	$ 14,936
Purchase Warrants [Member]
Number of Warrant Per Unit | shares			1
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares			1
Class of Warrant or Right, Exercise Price of Warrants or Rights (in CAD per Share) | $ / shares						$ 0.1075	$ 0.1075
Class of Warrant or Right, Term (Year)			5 years
Common Stock [Member]
Units Issued During Period, Shares, New Issues | shares			37,803,218	37,803,218
Shares Issued, Price Per Share (in CAD per Share) | $ / shares							$ 0.09

Note 5 - Capital Stock and Ad_4

Note 5 - Capital Stock and Additional Paid in Capital - Summary of Warrants (Details) - Purchase Warrants [Member] - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Outstanding, Warrants (in shares)	37,803,218
Exercise price, Warrants (in CAD per Share)		$ 0.1075	$ 0.1075

Note 5 - Capital Stock and Ad_5

Note 5 - Capital Stock and Additional Paid in Capital - Valuation Assumption (Details)	Dec. 31, 2023	Dec. 31, 2022
Measurement Input, Exercise Price [Member]
Warrants and Rights Outstanding, Measurement Input	0.1075	0.1075
Measurement Input, Share Price [Member]
Warrants and Rights Outstanding, Measurement Input	0.025	0.07
Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input	3.5	4.5
Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0	0
Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input	1.0002	0.9171
Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0.0359	0.0275

Note 5 - Capital Stock and Ad_6

Note 5 - Capital Stock and Additional Paid in Capital - Summary of Stock Option Activity (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Dec. 31, 2021 $ / shares shares
Outstanding (in shares)	34,665,000	34,615,000	34,615,000
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 0.14		$ 0.18
Granted (in shares)	11,400,000	5,700,000	5,700,000
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 0.035		$ 0.09
Exercised (in shares)		(900,000)	(900,000)	(3,125,000)	(3,125,000)
Exercised, weighted average exercise price (in dollars per share) | (per share)		$ 0.15	$ 0.15	$ 0.12
Expired (in shares)	(6,050,000)	(4,750,000)	(4,750,000)
Expired, weighted average exercise price (in dollars per share) | $ / shares	$ 0.22		$ 0.37
Outstanding (in shares)	40,015,000	34,665,000	34,665,000	34,615,000	34,615,000
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 0.1		$ 0.14		$ 0.18
Number currently exercisable (in shares)	40,015,000
Number currently exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 0.1

Note 5 - Capital Stock and Ad_7

Note 5 - Capital Stock and Additional Paid in Capital - Schedule of Stock Options Outstanding and Exercisable (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares
Number of Options Outstanding (in shares)	40,015,000	40,015,000	34,665,000	34,615,000
Number of Options Exercisable (in shares)	40,015,000	40,015,000
Exercise Price (in CAD per Share) | $ / shares		$ 0.1	$ 0.14	$ 0.18
Options Expiring May 9, 2024 [Member]
Number of Options Outstanding (in shares)	3,240,000	3,240,000
Number of Options Exercisable (in shares)	3,240,000	3,240,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.15
Expiry Date	May 09, 2024
Options Expiring June 24, 2024 [Member]
Number of Options Outstanding (in shares)	50,000	50,000
Number of Options Exercisable (in shares)	50,000	50,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.13
Expiry Date	Jun. 24, 2024
Options Expiring March 19, 2025 [Member]
Number of Options Outstanding (in shares)	7,450,000	7,450,000
Number of Options Exercisable (in shares)	7,450,000	7,450,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.065
Expiry Date	Mar. 19, 2025
Options Expiring May 22, 2025 [Member]
Number of Options Outstanding (in shares)	100,000	100,000
Number of Options Exercisable (in shares)	100,000	100,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.075
Expiry Date	May 22, 2025
Options Expiring November 13, 2025 [Member]
Number of Options Outstanding (in shares)	5,900,000	5,900,000
Number of Options Exercisable (in shares)	5,900,000	5,900,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.14
Expiry Date	Nov. 13, 2025
Options Expiring May 23, 2026 [Member]
Number of Options Outstanding (in shares)	6,175,000	6,175,000
Number of Options Exercisable (in shares)	6,175,000	6,175,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.18
Expiry Date	May 23, 2026
Options Expiring June 24, 2027 [Member]
Number of Options Outstanding (in shares)	5,700,000	5,700,000
Number of Options Exercisable (in shares)	5,700,000	5,700,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.09
Expiry Date	Jun. 14, 2027
Options Expiring November142028 [Member]
Number of Options Outstanding (in shares)	11,400,000	11,400,000
Number of Options Exercisable (in shares)	11,400,000	11,400,000
Exercise Price (in CAD per Share) | $ / shares	$ 0.035
Expiry Date	Nov. 14, 2028

Note 5 - Capital Stock and Ad_8

Note 5 - Capital Stock and Additional Paid in Capital - Summary of Valuation Assumption (Details) - Share-Based Payment Arrangement, Option [Member]	12 Months Ended
	Dec. 31, 2023 Rate	Dec. 31, 2022 Rate
Risk-free interest rate	3.87%	2.79%
Expected life (in years) (Year)	5 years	5 years
Volatility (Rate)	99.04%	85.52%
Forfeiture rate	0%	0%
Dividend rate	0%	0%

Note 6 - Treasury Stock - Sched

Note 6 - Treasury Stock - Schedule of Treasury Stock (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Treasury Stock, Common, Shares (in shares)	1,033,333	1,033,333
Treasury Value	$ 1,264,194	$ 1,264,194

Note 7 - Accruals Reversal (Det

Note 7 - Accruals Reversal (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accruals to Related Parties, Reversed	$ 0	$ 669,733
Accruals to Former Contractors and Consultants, Reversed		$ 362,311

Note 8 - Segmented Information

Note 8 - Segmented Information - Capital Assets by Geographic Area (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
AUSTRALIA
Mineral property interests	$ 704,053	$ 704,053
Property, Plant and Equipment, Net, Including Mineral Rights, Total	704,053	704,053
UNITED STATES
Mineral property interests	704,053	704,053
Property, Plant and Equipment, Net, Including Mineral Rights, Total	$ 704,053	$ 704,053

Note 9 - Income Tax - Schedule

Note 9 - Income Tax - Schedule of Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income before income taxes	$ 47,204	$ 850,596
Expected income tax (recovery)	13,000	221,000
Change in statutory, foreign exchange rates, and other	631,000	(330,000)
Permanent difference	(171,000)	(350,000)
Impact of foreign exchange	0	171,000
Share issuance costs	(13,000)	(13,000)
Adjustment to prior years provision versus statutory tax returns	(258,000)	115,000
Change in unrecognized deductible temporary differences	(202,000)	186,000
Total Income tax expense (recovery)	$ 0	$ 0

Note 9 - Income Tax - Schedul_2

Note 9 - Income Tax - Schedule of Deferred Tax Assets (Liabilities) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Exploration and evaluation assets	$ 1,871,000	$ 1,761,000
Property and equipment	136,000	118,000
Share issuance costs	8,000	10,000
Derivative liability	77,000	311,000
Allowable capital losses	1,882,000	1,773,000
Non-capital losses available for future periods	6,312,000	6,629,000
Deferred Tax Assets, Gross	10,286,000	10,602,000
Unrecognized deferred tax assets	(10,286,000)	(10,602,000)
Net deferred tax assets	$ 0	$ 0

Note 9 - Income Tax - Schedul_3

Note 9 - Income Tax - Schedule of Temporary Differences (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Exploration and evaluation assets	$ 1,871,000	$ 1,761,000
Property and equipment	136,000	118,000
Derivative liability	77,000	311,000
Share issuance costs	8,000	10,000
Allowable capital losses	1,882,000	1,773,000
Not Subject to Expiration [Member]
Exploration and evaluation assets	7,012,000	6,640,000
Property and equipment	514,000	455,000
Allowable capital losses	6,969,000	6,818,000
Expiration, 2027 [Member]
Derivative liability	283,000	1,195,000
Expiration, 2042 to 2046 [Member]
Share issuance costs	29,000	39,000
Expiration, 2028 to 2043 [Member]
Non-capital losses available for future periods	$ 23,947,000	$ 24,327,000

Note 10 - Supplemental Disclo_2

Note 10 - Supplemental Disclosure with Respect to Cash Flows (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes Paid, Net	$ 0	$ 0
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 0	0
Warrant [Member] | Private Placement [Member]
Class of Warrant or Right, Issued During Period, Value		$ 1,781,779