Silver Elephant Mining (SILEF) 20-F 31 Mar 20 2019 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2019shares
Document And Entity Information
Entity Registrant Name	SILVER ELEPHANT MINING CORP.
Entity Central Index Key	0001545224
Document Type	20-F
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Is Entity Emerging Growth Company?	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	A1
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	121,299,508
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 3,017,704	$ 5,304,097	$ 4,100,608
Receivables	246,671	36,399	34,653
Prepaid expenses	135,767	123,272	140,610
Marketable securities	0	0	205,600
Total current assets	3,400,142	5,463,768	4,481,471
Non-current assets
Restricted cash equivalents	34,500	34,500	34,500
Reclamation deposits	21,055	21,055	21,055
Right-of-use asset	50,023	0	0
Equipment	159,484	101,162	531,911
Mineral properties	23,782,884	3,643,720	13,299,906
Total assets	27,448,088	9,264,205	18,368,843
Current liabilities
Accounts payable and accrued liabilities	2,420,392	1,636,786	1,895,983
Lease liability	32,285	0	0
Total current liabilities	2,452,677	1,636,786	1,895,983
Non-current liabilities
Lease liability	20,533	0	0
Provision for closure and reclamation	266,790	265,239	244,323
Tax provision	0	8,121,918	7,541,016
Total liabilities	2,740,000	10,023,943	9,681,322
Equity
Share capital	181,129,012	173,819,546	165,862,805
Reserves	24,058,336	23,413,830	22,621,202
Accumulated other comprehensive income/(loss)	0	0	12,160
Deficit	(180,479,260)	(197,993,114)	(179,808,646)
Total equity	24,708,088	(759,738)	8,687,521
Total liabilities and equity	$ 27,448,088	$ 9,264,205	$ 18,368,843

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
General and Administrative Expenses
Advertising and promotion	$ 794,182	$ 471,230	$ 101,512
Consulting and management fees	251,552	255,610	751,612
Depreciation and accretion	65,157	28,024	8,823
Director fees	103,805	70,378	60,600
Insurance	93,661	55,546	52,566
Office and administration	123,904	137,289	89,808
Professional fees	228,594	428,884	194,912
Salaries and benefits	760,182	827,168	260,710
Share-based payments	707,802	553,430	599,117
Stock exchange and shareholder services	139,908	239,319	163,229
Travel and accommodation	236,815	231,505	98,476
Total general and administrative expenses	(3,505,562)	(3,298,383)	(2,381,365)
Other Items
Costs in excess of recovered coal	(120,354)	(94,335)	(109,187)
Finance cost	0	0	(8,111)
Foreign exchange gain/(loss)	(443,203)	(412,663)	(188,464)
Impairment/(recovery) of mineral property	13,708,200	(13,994,970)	(14,829,267)
Impairment of prepaid expenses	(51,828)	(26,234)	(57,420)
Impairment of equipment	0	(425,925)	(159,666)
Impairment of receivables	(16,304)	(21,004)	(61,202)
Interest expense	0	0	(21,066)
Loss on sale of marketable securities	0	(91,890)	(22,810)
Loss on sale of equipment	(9,795)	0	(1,681)
(Loss)/gain on debt settlement	7,952,700	0	(752,742)
Other income	0	130,936	0
Other income/(expense)	21,019,416	(14,886,085)	(16,211,616)
Net loss for year	17,513,854	(18,184,468)	(18,592,981)
Fair value gain/(loss) on marketable securities	0	(81,000)	12,160
Reclassification adjustment for realized loss on marketable securities	0	68,840	0
Comprehensive loss for year	$ 17,513,854	$ (18,196,628)	$ (18,580,821)
Loss per common share, basic	$ 0.17	$ (0.23)	$ (0.33)
Loss per common share, diluted	$ 0.17	$ (0.23)	$ (0.33)
Weighted average number of common shares outstanding, basic	102,208,111	78,445,396	55,760,700
Weighted Average number of common shares outstanding	102,398,145	78,445,396	55,760,700

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - CAD ($)	Share Capital	Reserves	Accumulated Other Comprehensive Income	Deficit	Total
Beginning balance, shares at Dec. 31, 2016	48,076,530
Beginning balance, amount at Dec. 31, 2016	$ 156,529,025	$ 21,482,133	$ 0	$ (161,215,665)	$ 16,795,493
Private placements, net of share issue costs, shares	20,775,060
Private placements, net of share issue costs, amount	$ 6,527,619	337,190			6,864,809
Shares issued on acquisition of property, shares	200,000
Shares issued on acquisition of property, amount	$ 96,200				96,200
Debt settlements, shares	4,019,130
Debt settlements, amount	$ 2,039,269				2,039,269
Share bonus to personnel, shares	390,000
Share bonus to personnel, amount	$ 190,320				190,320
Share compensation for services, shares	984,200
Share compensation for services, amount	$ 344,470				344,470
Exercise of stock options, shares	126,870
Exercise of stock options, amount	$ 65,252	(14,567)			50,685
Exercise of warrants, shares	150,000
Exercise of warrants, amount	$ 70,650	(10,650)			60,000
Share-based payments		827,096			827,096
Loss (gain) for the year				(18,592,981)	(18,592,981)
Unrealized gain on marketable securities			12,160		12,160
Ending balance, shares at Dec. 31, 2017	74,721,790
Ending balance, amount at Dec. 31, 2017	$ 165,862,805	22,621,202	12,160	(179,808,646)	8,687,521
Private placements, net of share issue costs, shares	16,061,417
Private placements, net of share issue costs, amount	$ 6,096,621				6,096,621
Warrants issued for mineral property		181,944			181,944
Exercise of stock options, shares	87,500
Exercise of stock options, amount	$ 39,500	(15,350)			24,150
Exercise of warrants, shares	3,445,420
Exercise of warrants, amount	$ 1,470,620	(132,453)			1,338,167
Bonus shares, shares	1,000,000
Bonus shares, amount	$ 350,000				350,000
Share-based payments		758,487			758,487
Loss (gain) for the year				(18,184,468)	(18,184,468)
Unrealized gain on marketable securities			(12,160)		(12,160)
Ending balance, shares at Dec. 31, 2018	95,316,127
Ending balance, amount at Dec. 31, 2018	$ 173,819,546	23,413,830	0	(197,993,114)	(759,738)
Private placements, net of share issue costs, shares	22,750,000
Private placements, net of share issue costs, amount	$ 6,117,991				6,117,991
Finders shares, shares	1,179,500
Finders shares, amount	$ 366,800				366,800
Debt settlements, shares	104,951
Debt settlements, amount	$ 43,030				43,030
Share compensation for services, shares	175,000
Share compensation for services, amount	$ 59,500				59,500
Exercise of stock options, shares	622,500
Exercise of stock options, amount	$ 328,095	(153,845)			174,250
Exercise of warrants, shares	651,430
Exercise of warrants, amount	$ 279,050	(28,478)			250,572
Bonus shares, shares	500,000
Bonus shares, amount	$ 115,000				115,000
Share-based payments		286,829			286,829
Loss (gain) for the year				17,513,854	17,513,854
Ending balance, shares at Dec. 31, 2019	121,299,508
Ending balance, amount at Dec. 31, 2019	$ 181,129,012	$ 24,058,336	$ 0	$ (180,479,260)	$ 24,708,088

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net loss for year	$ 17,513,854	$ (18,184,468)	$ (18,592,981)
Adjustments to reconcile net loss to net cash flows:
Depreciation and accretion	65,157	28,024	8,823
Share-based payments	707,802	553,430	599,117
Finance cost	0	0	8,111
Interest costs	0	0	21,066
Unrealized foreign exchange (gain)/loss	(169,218)	580,902	480,325
Share compensation for services	356,003	350,000	344,470
Impairment/(recovery) of mineral property	(13,708,200)	13,994,970	14,829,267
Impairment of prepaid expenses	51,828	26,234	57,420
Impairment of equipment	0	425,925	159,666
Impairment of receivables	16,304	21,004	61,202
(Loss)/gain on sale of marketable securities	0	91,890	22,810
Loss on sale of equipment	9,795	0	1,681
Debt settlement gain	(7,952,700)	0	752,742
Total adjustments before working capital	(3,109,375)	(2,112,089)	(1,246,281)
Working capital adjustments
Receivables	(196,079)	(22,750)	(4,290)
Prepaid expenses and reclamation deposits	(29,323)	(8,896)	2,496
Accounts payable and accrued liabilities and tax provision	659,264	(482,952)	540,844
Total working capital adjustments	433,862	(514,598)	539,050
Cash used in operating activities	(2,675,513)	(2,626,687)	(707,231)
Investing Activities
Purchase of GIC	0	0	(34,500)
Net (purchases)/proceeds from marketable securities	0	101,550	(40,250)
Purchase of property and equipment	(113,564)	(120,416)	(515,609)
Mineral property acquisition and expenditures	(6,123,401)	(3,609,896)	(1,398,207)
Cash used in investing activities	(6,236,965)	(3,628,762)	(1,988,566)
Financing Activities
Funds borrowed under credit facility	0	0	163,405
Credit facilities paid	0	0	(343,076)
Interest paid	0	0	(21,066)
Lease payments	(36,528)	0	0
Proceeds from share issuance, net of share issue costs	6,237,791	6,096,621	6,864,809
Proceeds from exercise of options	174,250	24,150	50,685
Proceeds from exercise of warrants	250,572	1,338,167	60,000
Cash provided by financing activities	6,626,085	7,458,938	6,774,757
Net increase (decrease) in cash	(2,286,393)	1,203,489	4,078,960
Cash - beginning of year	5,304,097	4,100,608	21,648
Cash - end of year	$ 3,017,704	$ 5,304,097	$ 4,100,608

DESCRIPTION OF BUSINESS AND NAT

DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2019
Description Of Business And Nature Of Operations
DESCRIPTION OF BUSINESS AND NATURE OF OPERATIONS	Silver Elephant Mining Corp. (formerly Prophecy Development Corp.) (the “ Company Shares TSX The Company is an exploration stage company. The Company holds a mining joint venture interest in the Pulacayo Paca silver-lead-zinc property located in Bolivia. The Company also has a 100% interest in two vanadium projects in North America including the Gibellini vanadium project which is comprised of the Gibellini and Louie Hill vanadium deposits and associated claims located in the State of Nevada, USA and the Titan vanadium-titanium-iron property located in the Province of Ontario, Canada. The Company also has a 100% interest in the Ulaan Ovoo coal property located in Selenge province, Mongolia and a 100% interest in the Chandgana Tal coal property and Khavtgai Uul coal property located in Khentii province, Mongolia. The Company maintains its registered and records office at Suite 1610 – 409 Granville Street, Vancouver, British Columbia, Canada, V6C 1T2. These consolidated audited annual financial statements have been prepared under the assumption that the Company is a going concern, which contemplates the realization of assets and the payment of liabilities in the ordinary course of business. The Company has a deficit of $180 million. The business of mineral exploration involves a high degree of risk and there can be no assurance that the Company’s current operations, including exploration programs, will result in profitable mining operations. The recoverability of the carrying value of mineral properties, and property and equipment interests and the Company’s continued on going existence is dependent upon the preservation of its interest in the underlying properties, the discovery of economically recoverable reserves, the achievement of profitable operations, the ability of the Company to raise additional sources of funding, and/or, alternatively, upon the Company’s ability to dispose of some or all of its interests on an advantageous basis. Additionally, the current capital markets and general economic conditions are significant obstacles to raising the required funds. These conditions may cast significant doubt upon the Company’s ability to continue as a going concern. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. Management is aware, in making its assessment, of uncertainties related to events or conditions that may cast significant doubt upon the entity’s ability to continue as a going concern that these uncertainties are material and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. Accordingly, they do not give effect to adjustments that would be necessary should the Company be unable to continue as a going concern and therefore to realize its assets and discharge its liabilities and commitments in other than the normal course of business and at amounts different from those in the accompanying financial statements. These adjustments could be material.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2019
Basis Of Presentation
BASIS OF PRESENTATION	These Annual Financial Statements have been prepared in accordance with International Financial Reporting Standards, (“ IFRS IASB The preparation of financial statements in compliance with IFRS requires the use of certain critical accounting estimates. It also requires the Company’s management to exercise judgment in applying the Company’s accounting policies. The areas where significant judgments and estimates have been made in preparing these Annual Financial Statements and their effect are disclosed in Note 5. These Annual Financial Statements have been prepared on a historical cost basis, except for financial instruments classified as marketable securities and fair value through profit or loss (“ FVTPL The accounting policies set out in Note 6 have been applied consistently by the Company and its subsidiaries to all periods presented. Certain prior year amounts have been reclassified to conform to the current year presentation. The Annual Consolidated Financial Statements were reviewed by the Audit Committee and approved and authorized for issue by the Board of Directors on March 24, 2019.

BASIS OF CONSOLIDATION

BASIS OF CONSOLIDATION	12 Months Ended
	Dec. 31, 2019
Basis Of Consolidation
BASIS OF CONSOLIDATION	The Annual Financial Statements comprise the financial statements of the Company and its wholly owned and partially owned subsidiaries as at December 31, 2019. Subsidiaries are consolidated from the date of acquisition, being the date on which the Company obtains control, and continue to be consolidated until the date when such control ceases. Effects of transactions between related companies are eliminated on consolidation. The financial statements of the subsidiaries are prepared for the same reporting period as the parent company. Accounting policies of the subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Company. The Company’s significant subsidiaries at December 31, 2019 are presented in the following table: Subsidiary Location Ownership interest Operations and Projects Owned Nevada Vanadium LLC USA 100% Gibellini project VC Exploration (US) Inc, USA 100% Gibellini project Apogee Minerals Bolivia S. A. Bolivia 98% Pulacayo project ASC Holdings Limited Bolivia 100% Pulacayo project Red Hill Mongolia LLC Mongolia 100% Ulaan Ovoo mine Chandgana Coal LLC Mongolia 100% Chandgana project

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Disclosure of voluntary change in accounting policy [abstract]
CHANGES IN ACCOUNTING POLICIES	Effective January 1, 2019, the Company, for the first time, has applied IFRS 16 Leases Leases Determining Whether an Arrangement Contains a Lease The Company’s leases consist of corporate office lease arrangements. The Company, on adoption of IFRS 16, recognized lease liabilities in relation to office leases which had previously been classified as operating leases under the principles of IAS 17. In relation, under the principles of the new standard these leases are measured as lease liabilities at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate as at January 1, 2019. The associated right-of-use asset has been measured at the amount equal to the lease liability on January 1, 2019. The right-of-use asset is subsequently depreciated from the commencement date to the earlier of the end of the lease term, or the end of the useful life of the asset (refer to Note 12 and Note 16). Furthermore, the right-of-use asset may be reduced due to impairment losses. The following table reconciles the Company’s operating lease commitments at December 31, 2018, as previously disclosed in the Company’s Annual Financial Statements, to the lease liability recognized on adoption of IFRS 16 at January 1, 2019: Adoption of IFRS 16 Lease commitments as at December 31, 2018 $ 124,556 Leass short-term commitments (32,313) 92,243 Impact of discounting (10,626) Lease liability as of January 1, 2019 $ 81617

SIGNIFICANT JUDGMENTS, ESTIMATE

SIGNIFICANT JUDGMENTS, ESTIMATES AND ASSUMPTIONS	12 Months Ended
	Dec. 31, 2019
Disclosure of changes in accounting estimates [abstract]
SIGNIFICANT JUDGMENTS, ESTIMATES AND ASSUMPTIONS	The preparation of a company’s financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions are continually evaluated and are based on management’s experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results could differ from these estimates. 5.1 Significant Judgments The significant judgments that the Company’s management has made in the process of applying the Company’s accounting policies, apart from those involving estimation uncertainties (Annual financial statements 5.2), that have the most significant effect on the amounts recognized in the Annual Financial Statements include, but are not limited to: (a) Functional currency determination The functional currency for each of the Company’s subsidiaries is the currency of the primary economic environment and the Company reconsiders the functional currency of its entities if there is a change in events and conditions which determined the primary economic environment. Management has determined the functional currency of all entities to be the Canadian dollar. (b) Economic recoverability and probability of future economic benefits of exploration, evaluation and development costs Management has determined that exploratory drilling, evaluation, development and related costs incurred which have been capitalized are economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefit including geologic and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping, prefeasibility and feasibility studies, assessable facilities, existing permits and life of mine plans. Management has determined that during the year ended December 31, 2019, none of the Company’s silver and vanadium projects have reached technical feasibility and commercial viability and therefore remain within Mineral Properties on the Statement of Financial Position. (c) Impairment (recovery) assessment of deferred exploration interests The Company considers both external and internal sources of information in assessing whether there are any indications that mineral property interests are impaired. External sources of information the Company considers include changes in the market, economic and legal environment in which the Company operates that are not within its control and affect the recoverable amount of mineral property interest. Internal sources of information the Company considers include the manner in which mineral properties and plant and equipment are being used or are expected to be used and indications of economic performance of the assets. During the year ended December 31, 2018, the Company wrote-off $13,994,970 of capitalized mineral property costs. During the year ended December 31, 2019, the Company reversed $13,708,200 of impairment. (Note 14). (d) Deferred Tax Liability Judgement is required to determine which types of arrangements are considered to be a tax on income in contrast to an operating cost. Judgement is also required in determining whether deferred tax liabilities are recognised in the statement of financial position. Deferred tax liabilities, including those arising from un-utilised tax gains, require management to assess the likelihood that the Company will generate sufficient taxable losses in future periods, in order to offset recognised deferred tax liabilities. Assumptions about the generation of future taxable losses depend on management’s estimates of future cash flows. These estimates of future taxable losses are based on forecast cash flows from operations (which are impacted by production and sales volumes, commodity prices, reserves, operating costs, closure and rehabilitation costs, capital expenditure, and other capital management transactions) and judgement about the application of existing tax laws in each jurisdiction. To the extent that future cash flows and taxable losses differ significantly from estimates, the ability of the Company to offset the net deferred tax liabilities recorded at the reporting date could be impacted. 5.2 Estimates and Assumptions The Company bases its estimates and assumptions on current and various other factors that it believes to be reasonable under the circumstances. Management believes the estimates are reasonable; however, actual results could differ from those estimates and could impact future results of operations and cash flows. The areas which require management to make significant estimates and assumptions in determining carrying values include, but are not limited to: (a) Mineral reserves The recoverability of the carrying value of the mineral properties is dependent on successful development and commercial exploitation, or alternatively, sale of the respective areas of interest. (b) Depreciation Significant judgment is involved in the determination of useful life and residual values for the computation of depreciation, depletion and amortization and no assurance can be given that actual useful lives and residual values will not differ significantly from current assumptions. (c) Impairment The carrying value of long-lived assets are reviewed each reporting period to determine whether there is any indication of impairment. If the carrying amount of an asset exceeds its recoverable amount, the asset is impaired, and an impairment loss is recognized in the consolidated statement of operations. The assessment of fair values, including those of the cash generating units (the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflow from other assets or groups of assets) (“ CGUs (d) Allowance for doubtful accounts, and the recoverability of receivables and prepaid expense amounts. Significant estimates are involved in the determination of recoverability of receivables and no assurance can be given that actual proceeds will not differ significantly from current estimations. Similarly, significant estimates are involved in the determination of the recoverability of services and/or goods related to the prepaid expense amounts, and actual results could differ significantly from current estimations. Management has made significant assumptions about the recoverability of receivables and prepaid expense amounts. During the year ended December 31,2019 the Company wrote-off $16,304 (2018 - $21,004;2017-$61,202) of trade receivables which are no longer expected to be recovered and $51,828 (2018 - $26,234;2017 - $57,420) of prepaid expenses for which not future benefit is expected to be received. (e) Provision for closure and reclamation The Company assesses its mineral properties’ rehabilitation provision at each reporting date or when new material information becomes available. Exploration, development and mining activities are subject to various laws and regulations governing the protection of the environment. In general, these laws and regulations are continually changing, and the Company has made, and intends to make in the future, expenditures to comply with such laws and regulations. Accounting for reclamation obligations requires management to make estimates of the future costs that the Company will incur to complete the reclamation work required to comply with existing laws and regulations at each location. Actual costs incurred may differ from those amounts estimated. Also, future changes to environmental laws and regulations could increase the extent of reclamation and remediation work required to be performed by the Company. Increases in future costs could materially impact the amounts charged to operations for reclamation and remediation. The provision represents management’s best estimate of the present value of the future reclamation and remediation obligation. The actual future expenditures may differ from the amounts currently provided. (f) Share-based payments Management uses valuation techniques in measuring the fair value of share purchase options granted. The fair value is determined using the Black Scholes option pricing model which requires management to make certain estimates, judgement, and assumptions in relation to the expected life of the share purchase options and share purchase warrants, expected volatility, expected risk-free rate, and expected forfeiture rate. Changes to these assumptions could have a material impact on the Annual Financial Statements. (f) Contingencies The assessment of contingencies involves the exercise of significant judgment and estimates of the outcome of future events. In assessing loss contingencies related to legal proceedings that are pending against the Company and that may result in regulatory or government actions that may negatively impact the Company’s business or operations, the Company and its legal counsel evaluate the perceived merits of the legal proceeding or unasserted claim or action as well as the perceived merits of the nature and amount of relief sought or expected to be sought, when determining the amount, if any, to recognize as a contingent liability or when assessing the impact on the carrying value of the Company’s assets. Contingent assets are not recognized in the Annual Financial Statements. (g) Fair value measurement The Company measures financial instruments at fair value at each reporting date. The fair values of financial instruments measured at amortized cost are disclosed in Note 21. Also, from time to time, the fair values of non-financial assets and liabilities are required to be determined, e.g., when the entity acquires a business, completes an asset acquisition or where an entity measures the recoverable amount of an asset or cash-generating unit at fair value less costs of disposal. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. Changes in estimates and assumptions about these inputs could affect the reported fair value.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Summary Of Significant Accounting Policies
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(a) Restricted cash equivalents Restricted cash equivalents consist of highly liquid investments pledged as collateral for the Company’s credit card and are readily convertible to known amounts of cash. (b) Mineral properties Mineral property assets consist of exploration and evaluation costs. Costs directly related to the exploration and evaluation of resource properties are capitalized to mineral properties once the legal rights to explore the resource properties are acquired or obtained. These costs include acquisition of rights to explore, license and application fees, topographical, geological, geochemical and geophysical studies, exploratory drilling, trenching, sampling, and activities in relation to evaluating the technical feasibility and commercial viability of extracting a mineral resource. If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined an impairment in value, the property is written down to its recoverable amount. Mineral properties are reviewed for impairment when facts and circumstances suggest that the carrying amount may exceed its recoverable amount. From time to time, the Company acquires or disposes of properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee and, accordingly, are recorded as mineral property costs or recoveries when the payments are made or received. After costs are recovered, the balances of the payments received are recorded as a gain on option or disposition of mineral property. (i) Title to mineral properties Although the Company has taken steps to verify title to the properties on which it is conducting exploration and in which it has an interest, in accordance with industry standards for the current stage of exploration of such properties, these procedures do not guarantee the Company’s title, nor has the Company insured title. Property title may be subject to unregistered prior agreements and non-compliance with regulatory requirements. (ii) Realization of mineral property assets The investment in and expenditures on mineral property interests comprise a significant portion of the Company’s assets. Realization of the Company’s investment in these assets is dependent upon the establishment of legal ownership, and the attainment of successful production from properties or from the proceeds of their disposal. Resource exploration and development is highly speculative and involves inherent risks. While the rewards if an ore body is discovered can be substantial, few properties that are explored are ultimately developed into profitable producing mines. There can be no assurance that current exploration programs will result in the discovery of economically viable quantities of ore. The amounts shown for acquisition costs and deferred exploration expenditures represent costs incurred to date and do not necessarily reflect present or future values. (ii) Environmental The Company is subject to the laws and regulations relating to environmental matters in all jurisdictions in which it operates, including provisions relating to property reclamation, discharge of hazardous material and other matters. The Company may also be held liable should environmental problems be discovered that were caused by former owners and operators of its properties and properties in which it has previously had an interest. The Company conducts its mineral exploration activities in compliance with applicable environmental protection legislation. Other than as disclosed in Note 17, the Company is not aware of any existing environmental issues related to any of its current or former properties that may result in material liability to the Company. Environmental legislation is becoming increasingly stringent and costs and expenses of regulatory compliance are increasing. The impact of new and future environmental legislation on the Company’s operations may cause additional expenses and restrictions. If the restrictions adversely affect the scope of exploration and development on the mineral properties, the potential for production on the property may be diminished or negated. (c) Equipment Equipment is stated at cost less accumulated depreciation and accumulated impairment losses, if any. The cost of an item of property and equipment consists of the purchase price, any costs directly attributable to bringing the asset to the location and condition necessary for its intended use, and an initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Depreciation of equipment is recorded on a declining-balance basis at the following annual rates: Computer equipment 45% Furniture and equipment 20% Leasehold improvement Straight line / 5 years Mining equipment 20% Vehicles 30% Right-of-use asset Straight line / term of lease When parts of major components of equipment have different useful lives, they are accounted for as a separate item of equipment. The cost of major overhauls of part of equipment is recognized in the carrying amount of the item if is probable that the future economic benefits embodied within the part will flow to the Company, and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of equipment are recognized in profit or loss as incurred. (d) Impairment of non-current assets and Cash Generating Units (“ CGU At the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is an indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU, where the recoverable amount of the CGU is the greater of the CGU’s fair value less costs to sell and its value in use to which the assets belong. In assessing value in use, estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. An impairment loss is recognized immediately in the statement of comprehensive loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Each project or group of claims or licenses is treated as a CGU. The Company uses its best efforts to fully understand all of the aforementioned to make an informed decision based upon historical and current facts surrounding the projects. Discounted cash flow techniques often require management to make estimates and assumptions concerning reserves and expected future production revenues and expenses, which can vary from actual. Where an impairment loss subsequently reverses, the carrying amount of the asset (or CGU) is increased to the revised estimate of its recoverable amount, such that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or CGU) in prior years. (e) Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Where funds are borrowed specifically to finance a project, the amount capitalized represents the actual borrowing costs incurred. Where surplus funds are available for a short-term from funds borrowed specifically to finance a project, the income generated from the temporary investment of such amounts is also capitalized and deducted from the total capitalized borrowing cost. Where the funds used to finance a project are from part of general borrowings, the amount capitalized is calculated using a weighted average of rates applicable to relevant general borrowings of the Company during the period. All other borrowing costs are recognized in profit or loss in the period in which they are incurred. (f) Foreign currency translation Transactions in currencies other than the functional currency are recorded at the prevailing exchange rates on the dates of the transactions. At each financial position reporting date, monetary assets and liabilities denominated in foreign currencies are translated at the prevailing exchange rates at the date of the consolidated statement of financial position. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated. Gains and losses arising from this translation are included in the determination of net gain or loss for the year. (g) Revenue recognition The Company recognizes interest income on its cash on an accrual basis at the stated rates over the term to maturity. Sales of coal are recognized when the risks and rewards of ownership pass to the customer and the price can be measured reliably. Sales contracts and revenue is recognized based on the terms of the contract. Revenue is measured at the fair value of the consideration received, excluding discounts and rebates. Royalties related to production are recorded in cost of sales. Sales of coal are generated from incidental coal sales and are recorded net of associated costs. (h) Unit offerings Proceeds received on the issuance of units, consisting of common shares and warrants, are allocated first to common shares based on the market trading price of the common shares at the time the units are priced, and any excess is allocated to warrants. (i) Share-based payments The Company has a share purchase option plan that is described in Note 19. The Company accounts for share-based payments using a fair value-based method with respect to all share-based payments to directors, officers, employees, and service providers. Share-based payments to employees are measured at the fair value of the instruments issued and amortized over the vesting periods. Share-based payments to non-employees are measured at the fair value of the goods or services received or if such fair value is not reliably measurable, at the fair value of the equity instruments issued. The fair value is recognized as an expense or capitalized to mineral properties or property and equipment with a corresponding increase in option reserve. This includes a forfeiture estimate, which is revised for actual forfeitures in subsequent periods. Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the consolidated statement of operations over the remaining vesting period. Upon the exercise of the share purchase option, the consideration received, and the related amount transferred from option reserve are recorded as share capital. (j) Loss per share Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. The Company uses the treasury stock method to compute the dilutive effect of options and warrants. Under this method the dilutive effect on earnings per share is calculated presuming the exercise of outstanding options and warrants. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the period. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. During the year ended December 31, 2019, the weighted average number of diluted common shares outstanding includes 190,034 dilutive stock options. (k) Income taxes The Company uses the asset and liability method to account for income taxes. Deferred income taxes are recognized for the future income tax consequences attributable to differences between the carrying values of assets and liabilities and their respective income tax basis on the statement of financial position date. Deferred income tax assets and liabilities are measured using the tax rates expected to be in effect when the temporary differences are likely to reverse. The effect on deferred income tax assets and liabilities of a change in tax rates is included in operations in the period in which the change is enacted or substantively enacted. The amount of deferred income tax assets recognized is limited to the amount of the benefit that is probable upon recovery. (l) Provision for closure and reclamation The Company assesses its equipment and mineral property rehabilitation provision at each reporting date. Changes to estimated future costs are recognized in the statement of financial position by either increasing or decreasing the rehabilitation liability and asset to which it relates if the initial estimate was originally recognized as part of an asset measured in accordance with IAS 16 Property, Plant and Equipment The Company records the present value of estimated costs of legal and constructive obligations required to restore operations in the period in which the obligation is incurred. The nature of these restoration activities includes dismantling and removing structures; rehabilitating mineral properties; dismantling operating facilities; closure of plant and waste sites; and restoration, reclamation and vegetation of affected areas. Present value is used where the effect of the time value of money is material. The related liability is adjusted each period for the unwinding of the discount rate and for changes in estimates, changes to the current market-based discount rate, and the amount or timing of the underlying cash flows needed to settle the obligation. (m) Financial instruments Classification Financial assets are classified at initial recognition as either: measured at amortized cost, FVTPL or fair value through other comprehensive income ("FVOCI"). The classification depends on the Company’s business model for managing the financial assets and the contractual cash flow characteristics. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. Derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL or the Company has opted to measure at FVTPL. Measurement Financial assets and liabilities at FVTPL are initially recognized at fair value and transaction costs are expensed in the consolidated statement of loss and comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets or liabilities held at FVTPL are included in the consolidated statement of operations and comprehensive loss in the period in which they arise. Where the Company has opted to designate a financial liability at FVTPL, any changes associated with the Company's credit risk will be recognized in OCI. Financial assets and liabilities at amortized cost are initially recognized at fair value, and subsequently carried at amortized cost less any impairment. Impairment The Company assesses on a forward-looking basis the expected credit losses ("ECL") associated with financial assets measured at amortized cost, contract assets and debt instruments carried at FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. Please refer to Note 21 for relevant fair value measurement disclosures.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	12 Months Ended
	Dec. 31, 2019
Disclosure of operating segments [abstract]
SEGMENTED INFORMATION	The Company operates in one operating segment, being the acquisition, exploration and development of mineral properties. Geographic segmentation of the Company’s non-current assets is as follows: December 31, 2019 Canada USA Mongolia Bolivia Total Reclamation deposits $ - $ - $ 21,055 $ - $ 21,055 Equipment 12,005 89,826 35,721 21,932 159,484 Mineral properties - 8,600,658 - 15,182,226 23,782,884 $ 12,005 $ 8,690,484 $ 56,776 $ 15,204,158 $ 23,963,423 December 31, 2018 Canada USA Mongolia Bolivia Total Reclamation deposits $ - $ - $ 21,055 $ - $ 21,055 Equipment 14,839 22,713 33,440 30,170 101,162 Mineral properties - 3,643,720 - - 3,643,720 $ 14,839 $ 3,666,433 $ 54,495 $ 30,170 $ 3,765,937 December 31, 2017 Canada USA Mongolia Bolivia Total Reclamation deposits $ - $ - $ 21,055 $ - $ 21,055 Equipment 18,376 - 48,364 465,171 531,911 Mineral properties - 490,356 - 12,809,550 13,299,906 $ 18,376 $ 490,356 $ 69,419 $ 13,274,721 $ 13,852,872

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	12 Months Ended
	Dec. 31, 2019
Cash and cash equivalents [abstract]
CASH AND CASH EQUIVALENTS	Cash and cash equivalents and restricted cash equivalents of the Company are comprised of bank balances and a guaranteed investment certificate which can be readily converted into cash without significant restrictions, changes in value or penalties. December 31, 2019 December 31, 2018 December 31, 2017 Cash $ 3,017,704 $ 804,097 $ 4,100,608 Cash equivalents - 4,500,000 - Restricted cash equivalents 34,500 34,500 34,500 $ 3,052,204 $ 5,338,597 $ 4,135,108 Cash Equivalents Restricted Cash Equivalents As at December 31, 2019, a guaranteed investment certificate of $34,500 (2018 - $34,500, 2017 – $34,500) has been pledged as collateral for the Company’s credit card.

RECEIVABLES

RECEIVABLES	12 Months Ended
	Dec. 31, 2019
Trade and other current receivables [abstract]
RECEIVABLES	Trade receivables are non-interest-bearing and are generally on terms of 30 to 90 days. December 31, 2019 December 31, 2018 December 31, 2017 Input tax recoverable $ 20,741 $ 36,399 $ 10,562 Trade receivable 195,433 - 24,091 Subscriptions receivable 30,497 - - $ 246,671 $ 36,399 $ 34,653 During the year ended December 31, 2019, the Company wrote-off $16,304 (2018 - $21,004. 2017 - $61,202) of receivables which are no longer expected to be recovered.

PREPAID EXPENSES

PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2019
Current prepayments [abstract]
PREPAID EXPENSES	December 31, 2019 December 31, 2018 December 31, 2017 General $ 44,613 $ 47,215 $ - Insurance 59,815 57,883 41,029 Environmental and taxes 6,850 8,789 47,508 Rent 24,489 9,385 11,458 Market advisors - - 40,615 $ 135,767 $ 123,272 $ 140,610 During the year ended December 31, 2019, the Company wrote-off $51,828 (2018 - $26,234, 2017 - $57,420) of prepaid expenses for which no future benefit is expected to be received.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	12 Months Ended
	Dec. 31, 2019
Available-for-sale financial assets [abstract]
MARKETABLE SECURITIES	Marketable securities consist of investment in common shares of public companies and therefore have no fixed maturity date or coupon rate. The fair value of the listed marketable securities has been determined directly by reference to published price quotation in an active market. As at and during the year ended December 31, 2019, the Company did not have marketable securities. During the year ended December 31, 2018, the Company sold all its marketable securities for proceeds of $162,490 and a realized loss of $91,890. Following the disposal of the shares, the Company reclassified the cumulative loss previously recognized in other comprehensive income of $68,840 to profit and loss on the sale of marketable securities. The following table summarized information regarding the Company’s marketable securities as at December 31, 2017, 2018, and 2019: Marketable securities 2019 2018 2017 Balance, beginning of period $ - $ 205,600 $ 176,000 Additions - 60,940 193,440 Disposals - (162,490 ) (153,190 ) Realized loss on disposal - (91,890 ) (22,810 ) Unrealized gain/(loss) on mark-to-market - (12,160 ) 12,160 Balance, end of period $ - $ - $ 205,600

RIGHT-OF-USE ASSET

RIGHT-OF-USE ASSET	12 Months Ended
	Dec. 31, 2019
Lease liabilities [abstract]
RIGHT-OF-USE ASSET	During the first-time application of IFRS 16 to the Company’s office lease, the recognition of a right of use asset was required and the leased asset was measured at the amount of the lease liability using the Company’s current incremental borrowing rate of 10%. The lease contains no extension or termination options. The following table presents the right-of-use-asset as at January 1, 2019 and December 31, 2019:

EQUIPMENT

EQUIPMENT	12 Months Ended
	Dec. 31, 2019
Property, plant and equipment [abstract]
EQUIPMENT	During the year ended December 31, 2018, the Company wrote-off $425,925 of mining equipment in Bolivia that was no longer in use. During the year ended December 31, 2017, the Company wrote-off $159,666 (2016 - $Nil) of equipment in Mongolia that was no longer in use. On October 10, 2018, the Company signed a lease agreement (the “ Lease Lessee Production Royalty The Lease is valid for 3 years with an annual advance royalty payment (“ ARP The 3-year Lease can be extended upon mutual agreement. The impaired value of $Nil for deferred development costs at Ulaan Ovoo property at December 31, 2019 (2018, 2017 - $Nil) remains unchanged. The following table summarized information regarding the Company’s equipment as at December 31, 2017, 2018, and 2019: Computer Furniture & Mining Equipment Equipment Vehicles Equipment Total Cost Balance, December 31, 2016 $ 100,221 $ 279,213 $ 453,854 $ 1,534,745 $ 2,368,033 Additions (147 ) (2,383 ) - - (2,530 ) Impairment charge - - (281,162 ) (219,916 ) (501,078 ) Balance, December 31, 2017 $ 100,074 $ 276,830 $ 172,692 $ 1,314,829 $ 1,864,425 Accumulated depreciation Balance, December 31, 2016 $ 94,900 $ 181,639 $ 339,916 $ 833,971 $ 1,450,426 Depreciation for year 1,795 35,434 18,434 167,837 223,500 Impairment charge - - (228,508 ) (112,904 ) (341,412 ) Balance, December 31, 2017 $ 96,695 $ 217,073 $ 129,842 $ 888,904 $ 1,332,514 Carrying amount at December 31, 2017 $ 3,379 $ 59,757 $ 42,850 $ 425,925 $ 531,911 Cost Balance, December 31, 2017 $ 100,074 $ 276,830 $ 172,692 $ 1,314,829 $ 1,864,425 Additions/Disposals 3,180 2,015 - 24,476 29,671 Impairment charge - - - (1,314,829 ) (1,314,829 ) Balance, December 31, 2018 $ 103,254 $ 278,845 $ 172,692 $ 24,476 $ 579,267 Accumulated depreciation Balance, December 31, 2017 $ 96,695 $ 217,073 $ 129,842 $ 888,904 $ 1,332,514 Depreciation for year 1,316 16,351 13,337 3,491 34,495 Impairment charge - - - (888,904 ) (888,904 ) Balance, December 31, 2018 $ 98,011 $ 233,424 $ 143,179 $ 3,491 $ 478,105 Carrying amount at December 31, 2018 $ 5,243 $ 45,421 $ 29,513 $ 20,985 $ 101,162 Cost Balance, December 31, 2018 $ 103,254 $ 278,845 $ 172,692 $ 24,476 $ 579,267 Additions - - 95,887 - 95,887 Disposals - - (48,973 ) - (48,973 ) Balance, December 31, 2019 $ 103,254 $ 278,845 $ 219,606 $ 24,476 $ 626,181 Accumulated depreciation Balance, December 31, 2018 $ 98,011 $ 233,424 $ 143,179 $ 3,491 $ 478,105 Disposals - - (39,178 ) - (39,178 ) Depreciation for year 792 12,445 10,641 3,892 27,770 Balance, December 31, 2019 $ 98,803 $ 245,869 $ 114,642 $ 7,383 $ 466,697 Carrying amount at December 31, 2019 $ 4,451 $ 32,976 $ 104,964 $ 17,093 $ 159,484

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Dec. 31, 2019
Investment property [abstract]
MINERAL PROPERTIES	Gibellini Chandgana Tal Khavtgai Uul Pulacayo Paca Titan Total Balance, December 31, 2016 $ - $ 11,186,322 $ 3,232,443 $ 11,980,943 $ - $ 26,399,708 Additions: - Acquisition cost $ 58,790 $ - $ - $ - $ 96,200 $ 154,990 Deferred exploration costs: - Licenses, tax, and permits 74,876 27,190 242,766 - 344,832 Geological and consulting 272,620 39,362 - 102,592 414,574 Personnel, camp and general 84,070 2,492 2,492 726,015 815,069 431,566 69,044 245,258 828,607 1,574,475 Impairment - (11,255,366 ) (3,477,701 ) - (96,200 ) (14,829,267 ) Balance, December 31, 2017 $ 490,356 $ - $ - $ 12,809,550 $ - $ 13,299,906 Additions: Acquisition cost $ 425,605 $ - $ - $ - $ - $ 425,605 Deferred exploration costs: Licenses, tax, and permits 387,149 1,271 261,168 - - 649,588 Geological and consulting 1,509,587 - - 51,112 - 1,560,699 Personnel, camp and general 831,023 20,590 3,741 847,538 - 1,702,892 2,727,759 21,861 264,909 898,650 - 3,913,179 Impairment - (21,861 ) (264,909 ) (13,708,200 ) - (13,994,970 ) Balance, December 31, 2018 $ 3,643,720 $ - $ - $ - $ - $ 3,643,720 Additions: Acquisition cost $ - $ - $ - $ - $ - $ - Deferred exploration costs: Licenses, tax, and permits 286,158 - - - - 286,158 Geological and consulting 3,200,773 - - 970,955 - 4,171,728 Personnel, camp and general 1,470,007 - - 503,071 - 1,973,078 4,956,938 - - 1,474,026 - 6,430,964 Impairment Recovery - - - 13,708,200 - 13,708,200 Balance, December 31, 2019 $ 8,600,658 $ - $ - $ 15,182,226 $ - $ 23,782,884 Gibellini Project, Nevada, United States Gibellini Project The Gibellini Project consists of a total of 354 unpatented lode mining claims that include: the Gibellini group of 40 claims, the VC Exploration group of 105 claims, and the Company group of 209 claims. All the claims are Gibellini Group The Gibellini group of claims was acquired on June 22, 2017, through lease from the claimant (the “ Gibellini Lessor “ Gibellini MLA On April 23, 2018, the Company announced an amendment to the Gibellini MLA, whereby the Company has been granted the right to cause the Gibellini Lessor of the Gibellini mineral claims to transfer their title to the claims to The Company. With the amendment, the Company will have the option to, at any time during the term of the Gibellini MLA, require the Gibellini Lessor to transfer title over all of the leased, unpatented lode mining claims (excluding four claims which will be retained by the Gibellini Lessor (the “ Transferred Claims Transfer Payment On June 22, 2019, the Company paid US$120,000 (2018 – US$101,943) of the annual royalty payment to the Gibellini Lessor. VC Exploration Group On July 13, 2017, the Company acquired (through lease under the mineral lease agreement “ Louie Hill MLA Former Louie Hill Lessors 10 unpatented lode claims totaling approximately 207 acres that comprised the Louie Hill group of claims Under the Louie Hill MLA, the Company is required to make payments as follows: cash payment of US$10,000 (paid), annual advance royalty payments which will be tied, based on an agreed formula (not to exceed US$28,000 per year), to the average vanadium pentoxide price for the prior year. Upon commencement of production, the Company will pay to the Former Louie Hill Lessors, a 2.5% NSR of which, 1.5% of the NSR may be purchased at any time by the Company for US$1,000,000, leaving the total NSR to be reduced to 1% over the remaining life of the mine (and referred to thereafter, as “production royalty payments”). All advance royalty payments made, will be deducted as credits against future production royalty payments. The lease will be for a term of 10 years, which can be extended for an additional 10 years at The Company’s option. On October 22, 2018, the Company and Former Louie Hill Lessors Royalty Agreement www.metalbulletin.com Metal Bulletin On June 18, 2019, the Company paid US$28,000 (2018 – US$21,491) of the annual royalty payment to the Louie Hill Lessor. On February 15, 2018, the Company acquired 105 unpatented lode mining claims located adjacent to its Gibellini Project through the acquisition of 1104002 B.C. Ltd. and its Nevada subsidiary VC Exploration (US) Inc. VC Exploration ( $89,944) The Company Group During 2017 and 2018, the Company expanded the land position at the Gibellini Project, by staking a total of 209 new claims immediately adjacent to the Gibellini Project covering 4091 acres. Pulacayo Paca Property, Bolivia The Pulacayo property, a silver-lead-zinc project located in southwestern Bolivia, was acquired on January 2, 2015 through the acquisition of 100% of Apogee’s interest in ASC Holdings Limited and ASC Bolivia LDC, which together, hold ASC Bolivia LDC Sucursal Bolivia (“ ASC ASC controls the mining rights to the Pulacayo Project through a joint venture agreement entered into between itself and the Pulacayo Ltda. Mining Cooperative on July 30, 2002 (the “ ASC Joint Venture (i) change in the Company’s primary focus to the Gibellini Project; (ii) management’s decision to suspend further exploration activities; and (iii) no positive decision from the Bolivian Government to grant mining production contract to develop the project. As result, in accordance with IFRS 6, Exploration for and Evaluation of Mineral Resources IAS 36, Impairment of Assets During the year ended December 31, 2019, the Company assessed whether there was any indication that the previously recognized impairment loss in connection with the Pulacayo Paca property may no longer exist or may have decreased. The Company noted the following indications that the impairment may no longer exist: ● The Company signed a mining production contract granting the Company the 100% exclusive right to develop and mine at the Pulacayo Paca property; ● The Company renewed its exploration focus to develop the Pulacayo Paca property in the current year; ● The Company re-initiated active exploration and drilling program on the property; ● Completed a positive final settlement of Bolivian tax dispute (note 27). As the Company identified indications that the impairment may no longer exist, the Company completed an assessment to determine the recoverable amount of the Pulacayo Paca property. In order to estimate the fair-value of the property the Company engaged a third-party valuation consultant and also utilized level 3 inputs on the fair value hierarchy to estimate the recoverable amount based on the property’s fair value less costs of disposal determined with reference to dollars per unit of metal in-situ. With reference to metal in-situ, the Company applied US$0.79 per ounce of silver resource to its 36.8 million ounces of silver resources and US$0.0136 per pound of zinc or lead in resource to its 303 million pounds of zinc and lead. The Company also considered data derived from properties similar to the Pulacayo Paca Property. The data consisted of property transactions and market valuations of companies holding comparable properties, adjusted to reflect the possible impact of factors such as location, political jurisdiction, commodity, geology, mineralization, stage of exploration, resources, infrastructure and property size. As the recoverable amount estimated with respect to the above was $31.4 million an impairment recovery of $13,708,200 was recorded during the year ended December 31, 2019. Previously Impaired Properties Chandgana Properties, Mongolia Chandgana Tal In March 2006, the Company acquired a 100% interest in the Chandgana Tal property, a coal exploration property consisting of two exploration licenses located in the northeast part of the Nyalga coal basin, approximately 290 kilometers east of Ulaanbaatar, Mongolia. In March 2011, the Company obtained a mine permit from Ministry of Mineral Resources and Energy for the Chandgana Tal coal project. Khavtgai Uul Property, Mongolia In 2007, the Company acquired a 100% interest in the Chandgana Khavtgai property, a coal exploration property consisting of one license located in the northeast part of the Nyalga coal basin. During the year ended December 31, 2017, the Company determined there were several indicators of potential impairment of the carrying value of the Chandgana Tal and Khavtgai Uul properties. As result, in accordance with IFRS 6, Exploration for and Evaluation of Mineral Resources IAS 36, Impairment of Assets Titan Property, Ontario, Canada The Company has a 100% interest in the Titan property, a vanadium-titanium-iron project located in Ontario, Canada. In January 2010, the Company entered into an option agreement with Randsburg International Gold Corp. (“ Randsburg December 31, 2010. Pursuant to the option agreement, Randsburg has the option to sell the remaining 20% interest in the Titan property to the Company for $150,000 cash or 400,000 Shares of the Company. At December 31, 2014, due to market conditions, the Company impaired the value of the property to $nil. On February 10, 2017, the Company negotiated with Randsburg to acquire the remaining 20% title interest of Randsburg in the Titan project by issuing to Randsburg 20,000 Shares at a value of $4.81 per Share. As there were no benchmark or market changes from January 1, 2015 to December 31, 2019, the impaired value of $nil for Titan property remains unchanged. Therefore, the Company recorded an impairment loss of $96,200 on the acquisition of the remaining title interest in Titan which was reflected on the consolidated statement of operations and comprehensive loss during the year ended December 31, 2017.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2019
Trade and other current payables [abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	Accounts payable and accrued liabilities of the Company consist of amounts outstanding for trade and other purchases relating to development and exploration, along with administrative activities. The usual credit period taken for trade purchases is between 30 to 90 days. December 31, 2019 December 31, 2018 December 31, 2017 Trade accounts payable $ 2,420,392 $ 1,536,786 $ 1,644,995 Accrued liabilities - 100,000 250,988 Lease liability 32,285 - - $ 2,452,677 $ 1,636,786 $ 1,895,983

LEASE LIABILITY

LEASE LIABILITY	12 Months Ended
	Dec. 31, 2019
Lease liabilities [abstract]
LEASE LIABILITY	As at December 31, 2019, the Company recorded $52,818 of lease liability. The incremental borrowing rate for lease liability initially recognized as of January 1, 2019 was 10%. The Company does not face a significant liquidity risk with regard to its lease liability. Lease liability is monitored within the Company treasury function. The non-current lease liability matures in 2021.

PROVISION FOR CLOSURE AND RECLA

PROVISION FOR CLOSURE AND RECLAMATION	12 Months Ended
	Dec. 31, 2019
Provisions [abstract]
PROVISION FOR CLOSURE AND RECLAMATION	The Company’s closure and reclamation costs consists of costs accrued based on the current best estimate of mine closure and reclamation activities that will be required at the Ulaan Ovoo site upon completion of mining activity. These activities include costs for earthworks, including land re-contouring and re-vegetation, water treatment and demolition. The Company’s provision for future site closure and reclamation costs is based on the level of known disturbance at the reporting date, known legal requirements and estimates prepared by a third-party specialist. It is not currently possible to estimate the impact on operating results, if any, of future legislative or regulatory developments. Management used a risk-free interest rate of 1.72% (2018 – 1.98%, 2017 – 2.23%) and a risk premium of 7% (2018 – 7%, 2017– 7%) in preparing the Company’s provision for closure and reclamation. Although the ultimate amount of reclamation costs to be incurred cannot be predicted with certainty, the total undiscounted amount of estimated cash flows required to settle the Company’s estimated obligations is $444,000 over the next 6 years. The cash expenditures are expected to occur over a period of time extending several years after the projected mine closure of the mineral properties. December 31, 2019 December 31, 2018 December 31, 2017 Balance, beginning of year $ 265,239 $ 244,323 $ 242,374 Accretion 1,551 20,916 1,949 Balance, end of year $ 266,790 $ 265,239 $ 244,323

TAX PROVISION

TAX PROVISION	12 Months Ended
	Dec. 31, 2019
Other provisions [abstract]
TAX PROVISION	The Company’s operations are, in part, subject to foreign tax laws where interpretations, regulations and legislation are complex and continually changing. As a result, there are usually some tax matters in question that may, upon resolution in the future, result in adjustments to the amount of deferred income tax assets and liabilities, and those adjustments may be material to the Company’s financial position and results of operations. A reconciliation of income taxes at statutory rates with the reported taxes is as follows: 2019 2018 2017 Loss for the year $ 17,513,854 $ (18,184,468 ) $ (18,592,981 ) Expected income tax (recovery) $ 4,729,000 $ (4,910,000 ) $ (4,834,000 ) Change in statutory, foreign tax, foreign exchange rates and other (529,000 ) 389,000 1,885,000 Permanent differences (4,861,000 ) 3,833,000 450,000 Share issue cost (103,000 ) (151,000 ) (25,000 ) Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses 1,205,000 12,000 (118,000 ) Change in unrecognized deductible temporary differences (441,000 ) 827,000 2,642,000 Total income tax expense (recovery) $ - $ - $ - In September 2017, the British Columbia (BC) Government proposed changes to the general corporate income tax rate to increase the rate from 11% to 12% effective January 1, 2018 and onwards. This change in tax rate was substantively enacted on October 26, 2017. The relevant deferred tax balances have been remeasured to reflect the increase in the Company's combined Federal and Provincial (BC) general corporate income tax rate from 26% to 27%. The significant components of deductible and taxable temporary differences, unused tax losses and unused tax credits that have not been included on the consolidated statements of financial position are as follows: 2019 Expiry Date Range 2018 Expiry Date Range 2017 Expiry Date Range Temporary Differences Exploration and evaluation assets $ 6,135,000 No expiry date $ 19,625,000 No expiry date $ 19,715,000 No expiry date Investment tax credit 23,000 2029 23,000 2029 23,000 2029 Property and equipment 1,242,000 No expiry date 1,138,000 No expiry date 1,146,000 No expiry date Share issue costs 747,000 2040 to 2043 644,000 2039 to 2042 285,000 2038 to 2041 Asset retirement obligation 267,000 No expiry date 265,000 No expiry date 244,000 No expiry date Allowable capital losses 5,864,000 No expiry date 6,607,000 No expiry date 6,549,000 No expiry date Non-capital losses avaialable for future periods 27,024,000 2023 to 2039 24,109,000 2030 to 2039 21,402,000 2030 to 2037

SHARE CAPITAL

SHARE CAPITAL	12 Months Ended
	Dec. 31, 2019
Disclosure of classes of share capital [abstract]
SHARE CAPITAL	(a) Authorized The authorized share capital consists of an unlimited number of common shares without par value (the “ Shares On August 8, 2018, the Company completed a common share split on the basis of ten (10) new Shares, options and warrants for every one (1) old Share, option and warrant outstanding (the “ Split (b) Equity issuances During the year ended December 31, 2019 Private Placements On September 6, 2019, the Company closed its non-brokered private placement for $2,600,000 through the issuance of 13,000,0000 Shares at a price of $0.20 per Share. The Company paid $15,209 and issued 525,000 Shares as a finder’s fee valued at $105,000. $175,000 of the private placement was for prepaid consulting fees for the Company’s executive chairman, of which $35,000 is included in prepaid expenses as at December 31, 2019 and $41,503 for services. Included in accounts receivable as at December 31, 2019 is $30,497 of subscriptions receivable. On October 18, 2019, the Company closed its non-brokered private placement for gross proceeds of $3,900,000 through the issuance of 9,750,000 Shares at a price of $0.40 per Share. Also, the Company issued 654,500 Shares as a finder’s fee valued at $261,800. Debt Settlement On October 9, 2019, the Company issued 104,951 Shares with a value of $43,030, to its directors to settle director fees debts owing to them. Exercise of Stock Options and Warrants During the year ended December 31, 2019, the Company issued 622,500 and 651,430 Shares on the exercise of stock options and warrants respectively for total proceeds of $424,822. Share Bonus to Personnel During the year ended December 31, 2019, the Company issued 500,000 sign-on bonus Shares with a fair value of $0.23 per Share to an officer valued at $115,000. Share Compensation for Services On September 26, 2019, the Company issued 175,000 Shares valued at $59,500 for consulting services. During the year ended December 31, 2018 Private Placements On August 14, 2018, the Company closed its non-brokered private placement for gross proceeds of $1,137,197 through the issuance of 4,061,417 units of The Company. Each unit is comprised of one Share and one Share purchase warrant. Each warrant entitles the holder to purchase one additional Share of the Company at an exercise price of $0.40 for a period of three years from the closing of the first tranche of the placement. Short Form Prospectus Offering On November 22, 2018, the Company closed its bought deal financing for gross proceeds of $5,520,000. The Company entered into an agreement with BMO Nesbitt Burns Inc. (“ BMO Exercise of Stock Options and Warrants During the year ended December 31, 2018, the Company issued 87,500 and 3,445,420 Shares on the exercise of stock options and warrants respectively for total proceeds of $1,362,317. Share Bonus to Personnel On October 10, 2018, the Company issued 1,000,000 Shares with a fair value of $0.35 per Share as a bonus to its new CEO included in Salaries and benefits. During the year ended December 31, 2017 Private Placements On April On September 20, 2017, the Company closed the first tranche of a non-brokered private placement involving the issuance of 6,679,680 units and 6,290,000 special warrants (the “ Special Warrants which were exercisable on identical terms as those Special Warrants issued to subscribers through the first tranche of the placement. On October 16, 2017, the Company closed the second and final tranche of the placement involving the issuance of 1,165,780 units and 4,143,710 Special Warrants at a price of $0.35 per each unit and Special Warrant and raised gross proceeds of $1,858,325. Each unit consists of one Share and one half of one warrant. Each second tranche warrant entitles the holder to purchase one additional Share of the Company at an exercise price of $0.40 for a period of three years from the date of closing of the second tranche of the placement. In connection with the second tranche of the placement, the Company paid finder’s fees of $56,020 and issued 93,270 finder’s Special Warrants, which were exercisable on identical terms as those Special Warrants issued to subscribers through the second tranche of the placement. The total subscription proceeds of $3,651,800, which were raised from the sale of the Special Warrants under the placement, were held in an escrow account with the Company’s Transfer Agent pending shareholder approval for the issuance of the Units underlying the Special Warrants. TSX and shareholder approval for the issuance of the Units underlying the Special Warrants was obtained on December 15, 2017. On December 18, 2017, the Company issued 11,397,110 units underlying an equivalent number of Special Warrants previously issued under the placement. On December 18, 2017, the Special Warrants subscription proceeds, previously held in escrow, were released to the Company. The finder’s Special Warrants have been valued at $0.35 each based upon the concurrent financing price of the placement to which they relate. The Company has recorded the fair value of the finder’s warrants as share issuance costs. Debt Settlements On January 12, 2017, On June 13, 2017, the Company issued 596,590 units (“ Debt Settlement Units1 On December 18, 2017, the Company issued 422,540 units (“ Debt Settlement Units2 Shares Issued for Mineral Properties On February 10, 2017, the Company acquired the remaining 20% title interest of Randsburg (Note 13) in the patented claims that comprise the Titan project by issuing to Randsburg 200,000 Shares at a value of $0.48 per Share. Share Bonus to Personnel On January 12, 2017, the Company issued 390,000 Shares with a fair value of $0.49 per Share as a bonus to its directors, officers and consultants. Share Compensation for Services On December 18, 2017, the Company issued 984,200 units with a fair value of $0.35 per unit, to Skanderbeg Capital Advisors Inc. (“ Skanderbeg Skanderbeg Units entered into a consulting agreement with Skanderbeg to explore and evaluate strategic alternatives to maximize value for The Company’s non-core assets. Each Skanderbeg Exercise of Stock Options and Warrants During the year ended December 31, 2017, the Company issued 126,870 and 150,000 Shares on the exercise of stock options and warrants respectively for total proceeds of $110,685. (c) Share-based compensation plan The Company has a 20% fixed equity-based compensation plan in place, as approved by the Company’s shareholders on June 2, 2016 (the “ 2016 Plan Amended 2016 Plan During the year ended December 31, 2019, the Company granted 3,965,000 incentive stock options to its directors, officers, employees and consultants. The options are exercisable at an exercise prices ranging from $0.20 to $0.44 per Share and expiry dates ranging from April 1, 2024 to November 15, 2024 and vest at 12.5% per quarter for the first two years following the date of grant. During the year ended December 31, 2018, the Company granted 4,040,000 incentive stock options to its directors, officers, employees and consultants. The options are exercisable at an exercise prices ranging from $0.22 to $0.65 per Share and expiry dates ranging from February 20, 2023 to November 14, 2023 and vest at 12.5% per quarter for the first two years following the date of grant. During the year ended December 31, 2017, the Company granted 4,080,000 incentive stock options to its directors, officers, employees and consultants. The options are exercisable at an exercise prices ranging from $0.33 to $0.49 per Share and expiry dates ranging from January 12, 2022 to November 6, 2022 and vest at 12.5% per quarter for the first two years following the date of grant. The following is a summary of the changes in the Company’s stock options from December 31, 2016 to December 31, 2019: [remainder of this page has been intentionally left blank] Number of Options Weighted Average Exercise Price Outstanding, December 31, 2016 4,608,140 $ 0.64 Granted 4,080,000 $ 0.38 Expired (312,930 ) $ 2.08 Exercised (126,870 ) $ 0.40 Outstanding, December 31, 2017 8,248,340 $ 0.46 Granted 4,040,000 $ 0.31 Expired (349,720 ) $ 1.21 Cancelled (1,815,120 ) $ 0.45 Forfeited (445,000 ) $ 1.04 Exercised (87,500 ) $ 0.28 Outstanding, December 31, 2018 9,591,000 $ 0.34 Granted 3,965,000 $ 0.31 Expired (315,000 ) $ 0.65 Cancelled (2,247,000 ) $ 0.32 Forfeited (794,000 ) $ 0.54 Exercised (622,500 ) $ 0.28 Outstanding, September 30, 2019 9,577,500 $ 0.31 As of December 31, 2019, the following the Company stock options were outstanding: Exercise Expiry Options Outstanding Exercisable Unvested Price Date December 31 December 31, December 31 December 31 2019 2018 2019 2019 $0.33 November 15, 2024 100,000 - 12,500 87,500 $0.44 November 1, 2024 1,610,000 - 201,250 1,408,750 $0.20 July 29, 2024 1,565,000 - 391,250 1,173,750 $0.21 April 1, 2024 500,000 - 187,500 312,500 $0.65 November 14, 2023 - 200,000 - - $0.33 October 17, 2023 705,000 940,000 352,500 352,500 $0.26 October 10, 2023 - 550,000 - - $0.22 July 23, 2023 400,000 400,000 250,000 150,000 $0.31 May 1, 2023 150,000 200,000 112,500 37,500 $0.28 April 6, 2023 862,500 1,225,000 646,875 215,625 $0.31 February 20, 2023 200,000 200,000 175,000 25,000 $0.35 September 1, 2022 980,000 1,250,000 980,000 - $0.33 June 12, 2022 805,000 1,225,000 805,000 - $0.49 January 12, 2022 620,000 820,000 620,000 - $0.20 June 2, 2021 990,000 1,420,000 990,000 - $0.50 June 22, 2020 30,000 311,000 30,000 - $0.50 April 7, 2020 60,000 535,000 60,000 - $0.65 May 1, 2019 - 315,000 - - 9,577,500 9,591,000 5,814,375 3,763,125 Share-based payment expenses resulting from stock options are amortized over the corresponding vesting periods. During the year ended December 31, 2019, 2018 and 2017, the share-based payment expenses were calculated using the following weighted average assumptions: Year ended December 31, 2019 2018 2017 Risk-free interest rate 1.54 % 1.77 % 1.25 % Expected life of options in years 4.45 4.40 4.4 Expected volatility 132.75 % 135.71 % 133.55 % Expected dividend yield Nil Nil Nil Expected forfeiture rate 12 % 12 % 12 % Weighted average fair value of options granted during the period $ 0.31 $ 0.32 $ 0.32 The expected volatility used in the Black-Scholes option pricing model is based on the historical volatility of the Company’s shares. The expected forfeiture rate is based on the historical forfeitures of options issued. Share-based payments charged to operations and assets were allocated between deferred mineral properties, and general and administrative expenses. Share-based payments are allocated between being either capitalized to deferred exploration costs where related to mineral properties or expensed as general and administrative expenses where otherwise related to the general operations of the Company. For the year ended December 31, 2019, 2018, and 2017, share-based payments were recorded as follows: Year Ended December 31, 2019 2018 2017 Consolidated Statement of Operations Share based payments 707,802 553,430 599,117 $ 707,802 $ 553,430 $ 599,117 Consolidated Statement of Financial Position Chandgana Tal and power plant application - - 69,515 Gibellini exploration 79,888 87,186 - Pulacayo exploration 39,139 117,871 158,464 119,027 205,057 227,979 Total share-based payments $ 826,829 $ 758,487 $ 827,096 On July 29, 2019, further to the voluntary forfeiture of share options held by certain directors, officers, and employees with expiry dates on April 7, 2020, June 22, 2020, and November 14, 2023, at exercise prices ranging from $0.50 to $0.65, the Company granted 1,275,000 new stock options to such individuals with an expiry date of July 29, 2024 at an exercise price of $0.20 per Share subject to a two-year vesting schedule whereby 12.5% per quarter following the date of grant. As at December 31, 2019, the re-issuing of these options had been approved by the TSX, but they had not been approved by the shareholders; consequently, these options were not valued. See Note 27. (d) Share purchase warrants The following is a summary of the changes in The Company’s share purchase warrants from December 31, 2016 to December 31, 2019: Number of Warrants Weighted Average Exercise Price Outstanding, December 31, 2016 13,480,600 $ 0.47 Issued 12,453,680 $ 0.41 Exercised (150,000 ) $ 0.40 Expired (26,250 ) $ 0.70 Outstanding, December 31, 2017 25,758,030 $ 0.44 Issued 5,061,417 $ 0.40 Exercised (3,445,420 ) $ 0.39 Expired (56,000 ) $ 0.40 Outstanding, December 31, 2018 27,318,027 $ 0.44 Exercised (651,430 ) $ 0.38 Outstanding, December 31, 2019 26,666,597 $ 0.44 On February 15, 2018, the Company issued 500,000 Share purchase warrants as a part of consideration for mining claims acquisition (Note 13). The fair value of $89,944 of the issued warrants determined using the Black-Scholes option pricing model using the following assumptions: (1) a risk-free interest rate of 1.9%; (2) warrant expected life of three years; (3) expected volatility of 116%, and (4) dividend yield of nil. On April 23, 2018, the Company issued 500,000 Share purchase warrants as a part of consideration for services related to the Gibellini Project. The fair value of $92,000 of the issued warrants determined using the Black-Scholes option pricing model using the following assumptions: (1) a risk-free interest rate of 2%; (2) warrant expected life of three years; (3) expected volatility of 97.4%, and (4) dividend yield of nil. As of December 31, 2019, the following The Company share purchase warrants were outstanding: Number of warrants Exercise Price Expiry Date at December 31, 2019 at December 31, 2018 $0.50 June 13, 2022 596,590 596,590 $0.50 April 12, 2022 1,032,500 1,032,500 $0.40 January 13, 2022 499,990 499,990 $0.44 August 29, 2021 1,013,670 1,013,670 $0.40 August 13, 2021 198,237 198,237 $0.40 July 6, 2021 3,863,180 3,863,180 $0.40 June 2, 2021 7,500,000 7,500,000 $0.30 April 23, 2021 - 100,000 $0.50 February 15, 2021 500,000 500,000 $0.40 January 25, 2021 650,000 650,000 $0.40 December 18, 2020 211,250 211,250 $0.70 November 13, 2020 625,000 625,000 $0.40 October 16, 2020 2,533,020 2,533,020 $0.70 September 30, 2020 1,112,000 1,112,000 $0.40 September 20, 2020 3,983,490 4,534,920 $0.60 June 24, 2020 1,147,670 1,147,670 $0.50 May 22, 2020 1,200,000 1,200,000 26,666,597 27,318,027

CAPITAL RISK MANAGEMENT

CAPITAL RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2019
Capital Risk Management
CAPITAL RISK MANAGEMENT	Management considers its capital structure to consist of share capital, share purchase options and warrants. The Company manages its capital structure and makes adjustments to it, based on the funds available to, and required by the Company in order to support the acquisition, exploration and development of mineral properties. The Board of Directors does not establish quantitative returns on capital criteria for management. In order to facilitate the management of its capital requirement, the Company prepares annual expenditure budgets that are updated as necessary depending on various factors. The annual and updated budgets are approved by the Board of Directors. The properties, to which the Company currently has an interest in, are in the exploration stage; as such, The Company is dependent on external financing to fund its activities. In order to carry out the planned exploration and development and pay for administrative costs, The Company will spend its existing working capital and raise additional amounts as needed. There were no changes in managements approach to capital management during the year ended December 31, 2019. Neither the Company nor its subsidiaries are subject to externally imposed capital requirements.

FAIR VALUE MEASUREMENTS AND FIN

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS	Fair Value Measurements Fair value hierarchy Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy establishes three levels to classify the inputs to valuation techniques used to measure fair value. The Company utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value as follows: Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs are quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability (for example, interest rate and yield curves observable at commonly quoted intervals, forward pricing curves used to value currency and commodity contracts and volatility measurements used to value option contracts), or inputs that are derived principally from or corroborated by observable market data or other means;and Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs). The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. The following table sets forth The Company’s financial assets measured at fair value by level within the fair value hierarchy. Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents, December 31, 2019 $ 3,017,704 $ - $ - $ 3,017,704 Cash and cash equivalents, December 31, 2018 $ 5,304,097 $ - $ - $ 5,304,097 Cash and cash equivalents, December 31, 2017 $ 4,100,608 $ - $ - $ 4,100,608 Categories of financial instruments The Company considers that the carrying amount of all its financial assets and financial liabilities measured at amortized cost approximates their fair value due to their short term nature. Restricted cash equivalents approximate fair value due to the nature of the instrument. The Company does not offset financial assets with financial liabilities. There were no transfers between Level 1, 2 and 3 for the year ended December 31, 2019. The Company’s financial assets and financial liabilities are categorized as follows: December 31, 2019 December 31, 2018 December 31, 2017 Fair value through profit or loss Cash $ 3,017,704 $ 5,304,097 $ 4,100,608 Fair value through other comprehensive income Marketable securities $ - $ - $ 205,600 Amortized cost Receivables $ 246,671 $ 36,399 $ 34,653 Restricted cash equivalents $ 34,500 $ 34,500 $ 34,500 $ 3,298,875 $ 5,374,996 $ 4,375,361 Amortized cost Accounts payable and accrued liabilities $ 2,420,392 $ 1,636,786 $ 1,895,983 Lease liability $ 52,818 $ - $ - $ 2,473,210 $ 1,636,786 $ 1,895,983

FINANCIAL RISK MANAGEMENT DISCL

FINANCIAL RISK MANAGEMENT DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Disclosure of nature and extent of risks arising from financial instruments [abstract]
FINANCIAL RISK MANAGEMENT DISCLOSURES	(a) Liquidity risk Liquidity risk is the risk that an entity will be unable to meet its financial obligations as they fall due. The Company manages liquidity risk by preparing cash flow forecasts of upcoming cash requirements. As at December 31, 2019, the Company had a cash and cash equivalents balance of $3,017,704 (December 31, 2018 – $5,304,097, December 31, 2017 – $4,100,608). As at December 31, 2019 the Company had accounts payable and accrued liabilities of $2,452,677 (December 31, 2018 - $1,636,786, December 31, 2017 - $1,895,983), which have contractual maturities of 90 days or less. The Company has a planning and budgeting process in place by which it anticipates and determines the funds required to support normal operation requirements as well as the growth and development of its mineral property interests. The Company coordinates this planning and budgeting process with its financing activities through the capital management process in normal circumstances. The following table details the Company’s current and expected remaining contractual maturities for its financial liabilities with agreed repayment periods. The table is based on the undiscounted cash flows of financial liabilities. 0 to 6 months 6 to 12 months Total Accounts payable and accrued liabilities As at December 31, 2019 $ 2,452,677 $ - $ 2,452,677 As at December 31, 2018 $ 1,636,786 $ - $ 1,636,786 As at December 31, 2017 $ 1,895,983 $ - $ 1,895,983 Lease liability as at December 31,2019 $ 16,143 $ 16,143 $ 32,285 (b) Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. The Company is exposed to credit risk primarily associated to cash and cash equivalents, restricted cash equivalents and receivables, net of allowances. The carrying amount of financial assets included on the statements of financial position represents the maximum credit exposure. (c) Market risk (i) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company’s cash and cash equivalents and restricted cash equivalents primarily include highly liquid investments that earn interest at market rates that are fixed to maturity. Due to the short - (ii) Foreign currency risk The Company is exposed to foreign currency risk to the extent that monetary assets and liabilities held by the Company are not denominated in Canadian dollars. The Company has exploration and development projects in Mongolia and Bolivia and undertakes transactions in various foreign currencies. The Company is therefore exposed to foreign currency risk arising from transactions denominated in a foreign currency and the translation of financial instruments denominated in US dollars, Mongolian tugrik, and Bolivian boliviano into its functional and reporting currency, the Canadian dollar. Based on the above, net exposures as at December 31, 2019, with other variables unchanged, a 10% (December 31, 2018 – 10%, December 31, 2017 – 10%) strengthening (weakening) of the Canadian dollar against the Mongolian tugrik would impact net loss with other variables unchanged by $144,000. A 10% strengthening (weakening) of the Canadian dollar against the Bolivian boliviano would impact net loss with other variables unchanged by $2,000. A 10% strengthening (weakening) of the US dollar against the Canadian dollar would impact net loss with other variables unchanged by $60,000. The Company currently does not use any foreign exchange contracts to hedge this currency risk. (ii) Commodity and equity price risk Commodity price risk is defined as the potential adverse impact on earnings and economic value due to commodity price movements and volatilities. Commodity prices fluctuate on a daily basis and are affected by numerous factors beyond the Company’s control. The supply and demand for these commodities, the level of interest rates, the rate of inflation, investment decisions by large holders of commodities including governmental reserves and stability of exchange rates can all cause significant fluctuations in prices. Such external economic factors are in turn influenced by changes in international investment patterns and monetary systems and political developments. The Company is also exposed to price risk with regards to equity prices. 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 closely monitors commodity prices, individual equity movements and the stock market to determine the appropriate course of action to be taken by the Company. Fluctuations in value may be significant.

RELATED PARTY DISCLOSURES

RELATED PARTY DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Related party transactions [abstract]
RELATED PARTY DISCLOSURES	During the year ended December 31, 2019, the Company had related party transactions with the following companies, related by way of directors and key management personnel: ● Linx Partners Ltd., a private company controlled by John Lee, Director, CEO and Executive Chairman of Prophecy, provides management and consulting services to the Company. ● MaKevCo Consulting Inc., a private company 50% owned by Greg Hall, Director of The Company, provides consulting services to the Company. ● Sophir Asia Ltd., a private company controlled by Masa Igata, Director of The Company, provides consulting services to the Company. A summary of related party transactions by related party is as follows: Year Ended December 31, Related parties 2019 2018 2017 Directors and officers $ 1,685,242 $ 1,265,152 $ 307,425 Linx Partners Ltd. 371,000 401,044 363,781 MaKevCo Consulting Inc. 21,400 21,200 23,600 Sophir Asia Ltd. 19,600 19,100 19,700 $ 2,097,242 $ 1,706,496 $ 714,506 A summary of the transactions by nature among the related parties is as follows: Year Ended December 31, Related parties 2019 2018 2017 Consulting and management fees $ 218,500 $ 268,456 $ 247,525 Directors' fees 103,805 70,378 60,600 Mineral properties 1,171,585 631,610 201,875 Salaries 603,352 736,052 204,506 $ 2,097,242 $ 1,706,496 $ 714,506 As at December 31, 2019, amounts due to related parties were $30,533 (December 31, 2018 - $4,634), (December 31, 2017 - $160,503) and included in accounts payable and accrued liabilities. During the years ended December 31, 2012 and 2013, the Company shared administrative assistance, office space, and management with Nickel Creek Platinum Corp. (“ Nickel

KEY MANAGEMENT PERSONNEL COMPEN

KEY MANAGEMENT PERSONNEL COMPENSATION	12 Months Ended
	Dec. 31, 2019
Key Management Personnel Compensation
KEY MANAGEMENT PERSONNEL COMPENSATION	Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, including directors of the Company. Year Ended December 31, Key Management Personnel 2019 2018 2017 Salaries and short term benefits $ 696,751 $ 775,064 $ 204,506 Directors' fees 103,805 70,378 60,600 Share-based payments 431,037 621,339 596,232 $ 1,231,593 $ 1,466,781 $ 861,338

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	12 Months Ended
	Dec. 31, 2019
Statement of cash flows [abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	Year Ended December 31 2019 2018 2017 Supplementary information Interest paid $ - $ - $ 21,066 Non-Cash Financing and Investing Activities Shares issued to pay credit facility $ - $ - $ 900,000 Shares issued on acquisition of mineral property $ - $ - $ 96,200 Bonus shares and shares $ 115,000 $ - $ 190,320 Shares for services $ 241,003 $ - $ - Shares issued to settle debt $ 43,030 $ - $ 386,527 Shares issued recorded as prepaid expenses $ 35,000 $ - $ - Subscriptions receivable $ 30,497 $ - $ - Warrants issued for mineral property $ - $ 181,944 $ - Depreciation included in mineral property $ 3,487 $ 27,387 $ 216,653 Equipment expenditures included in accounts payable $ 472,213 $ 489,890 $ 580,634 Fair value loss/gain on marketable securities $ - $ 12,160 $ 12,160 Mineral property expenditures included in accounts payable $ 1,252,796 $ 1,067,747 $ 753,248 Share-based payments capitalized in mineral properties $ 119,028 $ 205,057 $ 227,979 Reclassification of contributed surplus on exercise of options $ 153,845 $ 15,350 $ 14,567 Reclassification of contributed surplus on exercise of warrants $ 28,478 $ 132,453 $ 10,650

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2019
Capital commitments [abstract]
COMMITMENTS	Except as disclosed elsewhere in these financial statements, the Company has the following financial obligations in the ordinary course of business: 2020 2021 2022 Total Office Lease Obligations $ 45,489 $ 24,574 $ 9,540 $ 79,603 $ 45,489 $ 24,574 $ 9,540 $ 79,603

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Contingencies
CONTINGENCIES	ASC tax claim On January 2, 2015, the Company acquired ASC Holdings Limited and ASC Bolivia LDC (which together, hold ASC Bolivia LDC Sucursal Bolivia, which in turn, held Apogee Silver Ltd.’s (“ Apogee Apogee disputed the assessment and disclosed to the Company that it believed the notice was improperly issued. The Company continued to dispute the assessment and hired local legal counsel to pursue an appeal of the tax authority’s assessment on both substantive and procedural grounds. The Company received a positive Resolution issued by the Bolivian Constitutional Court that among other things, declared null and void the previous Resolution of the Bolivian Supreme Court issued in 2011 (that imposed the tax liability on ASC Bolivia LDC Sucursal Bolivia) and sent the matter back to the Supreme court to consider and issue a new resolution. On November 18, 2019 the Company received Resolution No. 195/2018 issued by the Supreme Court of Bolivia which declared the tax claim brought by Bolivia’s General Revenue Authority against the Company’s Bolivian subsidiary as not proven. The Resolution is final and binding. Hence neither the Company nor the Company’s Bolivian subsidiaries owe any outstanding back taxes to the Bolivian General Revenue Authority. During the year ended December 31, 2019, the Company and legal counsel reassessed the status of tax rulings and determined that the probability of a re-issuance of a tax claim against the Company in connection with the above was remote. As a result, the Company has written off the tax liability and recorded a debt settlement gain in the amount of $7,952,700 on its consolidated statements of operations and comprehensive loss. Red Hill tax claim During the year ended December 31, 2014, the Company’s wholly-owned subsidiary, Red Hill Mongolia LLC (“ Red Hill In June 2019, the Company received a positive resolution issued from the City tax tribunal regarding the Company’s VAT dispute with the Mongolia tax office. The resolution, which is binding and final, affirmed Red Hill’s outstanding VAT credit of 1.169 billion MNT resulted from past mining equipment purchases. The VAT credit can be used to offset Red Hill’s taxes and royalty payments; or be refunded in cash by Mongolia’s Ministry of Finance within 12 to 24 months processing time. Due to the credit risk associated with the VAT credit, the Company has provided a full valuation provision against the balance.

EVENTS AFTER THE REPORTING DATE

EVENTS AFTER THE REPORTING DATE	12 Months Ended
	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [abstract]
EVENTS AFTER THE REPORTING DATE	The following events occurred subsequent to December 31, 2019: ● Effective January 6, 2020, the Company engaged Mr. Ken Cotiamco to provide investor relations and shareholder communications services by entering into a consulting agreement whereby Ken Cotiamco would receive from the Company renumeration of $4,000 per month for a term of three months, which could be extended and also pursuant to the consulting agreement the Company granted 100,000 incentive stock options at a price of $0.41 Share for a term of five years expiring on January 6, 2025; ● Pursuant to the Company’s Share-Based Compensation Plan, on January 6, 2020, the Company issued an aggregate of 1,601,000 Shares as bonus payments to certain directors, officers, employees and consultants of the Company; ● On March 16, 2020, the Company held its Special Meeting of Shareholders. The Company received shareholder approval of the following: ➢ changing its name to Silver Elephant Mining Corp.; ➢ consolidation of the Company’s issued and outstanding shares at a ratio between one (1) new Common Share for every five (5) to ten (10) old Common Shares (the “2020 Consolidation”). The effective date of the Name Change and the 2020 Consolidation would be determined at a later date by the Board of the Company; and ➢ ratification of 1,275,000 stock options previously granted to certain directors, officers, employees and consultants of the Company on July 29, 2019 pursuant to the terms of the Company’s Share-Based Compensation Plan. ● On March 16, 2020, the Company amended its Articles and changed its name to “Silver Elephant Mining Corp.” ● On March 19, 2020, the Company changed its’ symbol on the TSX from PCY to “ELEF”. ● On March 23, 2020, the Company changed its’ symbol on the OTCQX from PRPCF to “SILEF”. ● In March 2020 the World Health Organization declared coronavirus COVID-19 a global pandemic. This contagious disease outbreak, which has continued to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. It is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on the Company’s business or results of operations at this time.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Summary Of Significant Accounting Policies
Restricted cash equivalents	Restricted cash equivalents consist of highly liquid investments pledged as collateral for the Company’s credit card and are readily convertible to known amounts of cash.
Mineral properties	Mineral property assets consist of exploration and evaluation costs. Costs directly related to the exploration and evaluation of resource properties are capitalized to mineral properties once the legal rights to explore the resource properties are acquired or obtained. These costs include acquisition of rights to explore, license and application fees, topographical, geological, geochemical and geophysical studies, exploratory drilling, trenching, sampling, and activities in relation to evaluating the technical feasibility and commercial viability of extracting a mineral resource. If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined an impairment in value, the property is written down to its recoverable amount. Mineral properties are reviewed for impairment when facts and circumstances suggest that the carrying amount may exceed its recoverable amount. From time to time, the Company acquires or disposes of properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee and, accordingly, are recorded as mineral property costs or recoveries when the payments are made or received. After costs are recovered, the balances of the payments received are recorded as a gain on option or disposition of mineral property. (i) Title to mineral properties Although the Company has taken steps to verify title to the properties on which it is conducting exploration and in which it has an interest, in accordance with industry standards for the current stage of exploration of such properties, these procedures do not guarantee the Company’s title, nor has the Company insured title. Property title may be subject to unregistered prior agreements and non-compliance with regulatory requirements. (ii) Realization of mineral property assets The investment in and expenditures on mineral property interests comprise a significant portion of the Company’s assets. Realization of the Company’s investment in these assets is dependent upon the establishment of legal ownership, and the attainment of successful production from properties or from the proceeds of their disposal. Resource exploration and development is highly speculative and involves inherent risks. While the rewards if an ore body is discovered can be substantial, few properties that are explored are ultimately developed into profitable producing mines. There can be no assurance that current exploration programs will result in the discovery of economically viable quantities of ore. The amounts shown for acquisition costs and deferred exploration expenditures represent costs incurred to date and do not necessarily reflect present or future values. (ii) Environmental The Company is subject to the laws and regulations relating to environmental matters in all jurisdictions in which it operates, including provisions relating to property reclamation, discharge of hazardous material and other matters. The Company may also be held liable should environmental problems be discovered that were caused by former owners and operators of its properties and properties in which it has previously had an interest. The Company conducts its mineral exploration activities in compliance with applicable environmental protection legislation. Other than as disclosed in Note 17, the Company is not aware of any existing environmental issues related to any of its current or former properties that may result in material liability to the Company. Environmental legislation is becoming increasingly stringent and costs and expenses of regulatory compliance are increasing. The impact of new and future environmental legislation on the Company’s operations may cause additional expenses and restrictions. If the restrictions adversely affect the scope of exploration and development on the mineral properties, the potential for production on the property may be diminished or negated.
Equipment	Equipment is stated at cost less accumulated depreciation and accumulated impairment losses, if any. The cost of an item of property and equipment consists of the purchase price, any costs directly attributable to bringing the asset to the location and condition necessary for its intended use, and an initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Depreciation of equipment is recorded on a declining-balance basis at the following annual rates: Computer equipment 45% Furniture and equipment 20% Leasehold improvement Straight line / 5 years Mining equipment 20% Vehicles 30% Right-of-use asset Straight line / term of lease When parts of major components of equipment have different useful lives, they are accounted for as a separate item of equipment. The cost of major overhauls of part of equipment is recognized in the carrying amount of the item if is probable that the future economic benefits embodied within the part will flow to the Company, and its cost can be measured reliably. The carrying amount of the replaced part is derecognized. The costs of the day-to-day servicing of equipment are recognized in profit or loss as incurred.
Impairment of non-current assets and Cash Generating Units ("CGU")	At the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is an indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the CGU, where the recoverable amount of the CGU is the greater of the CGU’s fair value less costs to sell and its value in use to which the assets belong. In assessing value in use, estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. An impairment loss is recognized immediately in the statement of comprehensive loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Each project or group of claims or licenses is treated as a CGU. The Company uses its best efforts to fully understand all of the aforementioned to make an informed decision based upon historical and current facts surrounding the projects. Discounted cash flow techniques often require management to make estimates and assumptions concerning reserves and expected future production revenues and expenses, which can vary from actual. Where an impairment loss subsequently reverses, the carrying amount of the asset (or CGU) is increased to the revised estimate of its recoverable amount, such that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or CGU) in prior years.
Borrowing costs	Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset are capitalized as part of the cost of that asset. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Where funds are borrowed specifically to finance a project, the amount capitalized represents the actual borrowing costs incurred. Where surplus funds are available for a short-term from funds borrowed specifically to finance a project, the income generated from the temporary investment of such amounts is also capitalized and deducted from the total capitalized borrowing cost. Where the funds used to finance a project are from part of general borrowings, the amount capitalized is calculated using a weighted average of rates applicable to relevant general borrowings of the Company during the period. All other borrowing costs are recognized in profit or loss in the period in which they are incurred.
Foreign currency translation	Transactions in currencies other than the functional currency are recorded at the prevailing exchange rates on the dates of the transactions. At each financial position reporting date, monetary assets and liabilities denominated in foreign currencies are translated at the prevailing exchange rates at the date of the consolidated statement of financial position. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated. Gains and losses arising from this translation are included in the determination of net gain or loss for the year.
Revenue recognition	The Company recognizes interest income on its cash on an accrual basis at the stated rates over the term to maturity. Sales of coal are recognized when the risks and rewards of ownership pass to the customer and the price can be measured reliably. Sales contracts and revenue is recognized based on the terms of the contract. Revenue is measured at the fair value of the consideration received, excluding discounts and rebates. Royalties related to production are recorded in cost of sales. Sales of coal are generated from incidental coal sales and are recorded net of associated costs.
Unit offerings	Proceeds received on the issuance of units, consisting of common shares and warrants, are allocated first to common shares based on the market trading price of the common shares at the time the units are priced, and any excess is allocated to warrants.
Share-based payments	The Company has a share purchase option plan that is described in Note 19. The Company accounts for share-based payments using a fair value-based method with respect to all share-based payments to directors, officers, employees, and service providers. Share-based payments to employees are measured at the fair value of the instruments issued and amortized over the vesting periods. Share-based payments to non-employees are measured at the fair value of the goods or services received or if such fair value is not reliably measurable, at the fair value of the equity instruments issued. The fair value is recognized as an expense or capitalized to mineral properties or property and equipment with a corresponding increase in option reserve. This includes a forfeiture estimate, which is revised for actual forfeitures in subsequent periods. Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the consolidated statement of operations over the remaining vesting period. Upon the exercise of the share purchase option, the consideration received, and the related amount transferred from option reserve are recorded as share capital.
Loss per share	Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. The Company uses the treasury stock method to compute the dilutive effect of options and warrants. Under this method the dilutive effect on earnings per share is calculated presuming the exercise of outstanding options and warrants. It assumes that the proceeds of such exercise would be used to repurchase common shares at the average market price during the period. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. During the year ended December 31, 2019, the weighted average number of diluted common shares outstanding includes 190,034 dilutive stock options.
Income taxes	The Company uses the asset and liability method to account for income taxes. Deferred income taxes are recognized for the future income tax consequences attributable to differences between the carrying values of assets and liabilities and their respective income tax basis on the statement of financial position date. Deferred income tax assets and liabilities are measured using the tax rates expected to be in effect when the temporary differences are likely to reverse. The effect on deferred income tax assets and liabilities of a change in tax rates is included in operations in the period in which the change is enacted or substantively enacted. The amount of deferred income tax assets recognized is limited to the amount of the benefit that is probable upon recovery.
Provision for closure and reclamation	The Company assesses its equipment and mineral property rehabilitation provision at each reporting date. Changes to estimated future costs are recognized in the statement of financial position by either increasing or decreasing the rehabilitation liability and asset to which it relates if the initial estimate was originally recognized as part of an asset measured in accordance with IAS 16 Property, Plant and Equipment The Company records the present value of estimated costs of legal and constructive obligations required to restore operations in the period in which the obligation is incurred. The nature of these restoration activities includes dismantling and removing structures; rehabilitating mineral properties; dismantling operating facilities; closure of plant and waste sites; and restoration, reclamation and vegetation of affected areas. Present value is used where the effect of the time value of money is material. The related liability is adjusted each period for the unwinding of the discount rate and for changes in estimates, changes to the current market-based discount rate, and the amount or timing of the underlying cash flows needed to settle the obligation.
Financial instruments	Classification Financial assets are classified at initial recognition as either: measured at amortized cost, FVTPL or fair value through other comprehensive income ("FVOCI"). The classification depends on the Company’s business model for managing the financial assets and the contractual cash flow characteristics. For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. Derivatives embedded in contracts where the host is a financial asset in the scope of the standard are never separated. Instead, the hybrid financial instrument as a whole is assessed for classification. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL or the Company has opted to measure at FVTPL. Measurement Financial assets and liabilities at FVTPL are initially recognized at fair value and transaction costs are expensed in the consolidated statement of loss and comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets or liabilities held at FVTPL are included in the consolidated statement of operations and comprehensive loss in the period in which they arise. Where the Company has opted to designate a financial liability at FVTPL, any changes associated with the Company's credit risk will be recognized in OCI. Financial assets and liabilities at amortized cost are initially recognized at fair value, and subsequently carried at amortized cost less any impairment. Impairment The Company assesses on a forward-looking basis the expected credit losses ("ECL") associated with financial assets measured at amortized cost, contract assets and debt instruments carried at FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. Please refer to Note 21 for relevant fair value measurement disclosures.

BASIS OF CONSOLIDATION (Tables)

BASIS OF CONSOLIDATION (Tables)	12 Months Ended
	Dec. 31, 2019
Basis Of Consolidation
Subsidiaries	Subsidiary Location Ownership interest Operations and Projects Owned Nevada Vanadium LLC USA 100% Gibellini project VC Exploration (US) Inc, USA 100% Gibellini project Apogee Minerals Bolivia S. A. Bolivia 98% Pulacayo project ASC Holdings Limited Bolivia 100% Pulacayo project Red Hill Mongolia LLC Mongolia 100% Ulaan Ovoo mine Chandgana Coal LLC Mongolia 100% Chandgana project

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of voluntary change in accounting policy [abstract]
Operating lease commitments	Adoption of IFRS 16 Lease commitments as at December 31, 2018 $ 124,556 Leass short-term commitments (32,313) 92,243 Impact of discounting (10,626) Lease liability as of January 1, 2019 $ 81617

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Summary Of Significant Accounting Policies
Depreciation of equipment	Computer equipment 45% Furniture and equipment 20% Leasehold improvement Straight line / 5 years Mining equipment 20% Vehicles 30% Right-of-use asset Straight line / term of lease

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of operating segments [abstract]
Geographic segmentation of assets	The Company operates in one operating segment, being the acquisition, exploration and development of mineral properties. Geographic segmentation of the Company’s non-current assets is as follows: December 31, 2019 Canada USA Mongolia Bolivia Total Reclamation deposits $ - $ - $ 21,055 $ - $ 21,055 Equipment 12,005 89,826 35,721 21,932 159,484 Mineral properties - 8,600,658 - 15,182,226 23,782,884 $ 12,005 $ 8,690,484 $ 56,776 $ 15,204,158 $ 23,963,423 December 31, 2018 Canada USA Mongolia Bolivia Total Reclamation deposits $ - $ - $ 21,055 $ - $ 21,055 Equipment 14,839 22,713 33,440 30,170 101,162 Mineral properties - 3,643,720 - - 3,643,720 $ 14,839 $ 3,666,433 $ 54,495 $ 30,170 $ 3,765,937 December 31, 2017 Canada USA Mongolia Bolivia Total Reclamation deposits $ - $ - $ 21,055 $ - $ 21,055 Equipment 18,376 - 48,364 465,171 531,911 Mineral properties - 490,356 - 12,809,550 13,299,906 $ 18,376 $ 490,356 $ 69,419 $ 13,274,721 $ 13,852,872

CASH AND CASH EQUIVALENTS (Tabl

CASH AND CASH EQUIVALENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Cash and cash equivalents [abstract]
Cash and restricted cash equivalents	December 31, 2019 December 31, 2018 December 31, 2017 Cash $ 3,017,704 $ 804,097 $ 4,100,608 Cash equivalents - 4,500,000 - Restricted cash equivalents 34,500 34,500 34,500 $ 3,052,204 $ 5,338,597 $ 4,135,108

RECEIVABLES (Tables)

RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2019
Trade and other current receivables [abstract]
Trade and other receivables	December 31, 2019 December 31, 2018 December 31, 2017 Input tax recoverable $ 20,741 $ 36,399 $ 10,562 Trade receivable 195,433 - 24,091 Subscriptions receivable 30,497 - - $ 246,671 $ 36,399 $ 34,653

PREPAID EXPENSES (Tables)

PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2019
Current prepayments [abstract]
Prepaid expenses	December 31, 2019 December 31, 2018 December 31, 2017 General $ 44,613 $ 47,215 $ - Insurance 59,815 57,883 41,029 Environmental and taxes 6,850 8,789 47,508 Rent 24,489 9,385 11,458 Market advisors - - 40,615 $ 135,767 $ 123,272 $ 140,610

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Available-for-sale financial assets [abstract]
Marketable securities	Marketable securities 2019 2018 2017 Balance, beginning of period $ - $ 205,600 $ 176,000 Additions - 60,940 193,440 Disposals - (162,490 ) (153,190 ) Realized loss on disposal - (91,890 ) (22,810 ) Unrealized gain/(loss) on mark-to-market - (12,160 ) 12,160 Balance, end of period $ - $ - $ 205,600

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2019
Property, plant and equipment [abstract]
Property and equipment	Computer Furniture & Mining Equipment Equipment Vehicles Equipment Total Cost Balance, December 31, 2016 $ 100,221 $ 279,213 $ 453,854 $ 1,534,745 $ 2,368,033 Additions (147 ) (2,383 ) - - (2,530 ) Impairment charge - - (281,162 ) (219,916 ) (501,078 ) Balance, December 31, 2017 $ 100,074 $ 276,830 $ 172,692 $ 1,314,829 $ 1,864,425 Accumulated depreciation Balance, December 31, 2016 $ 94,900 $ 181,639 $ 339,916 $ 833,971 $ 1,450,426 Depreciation for year 1,795 35,434 18,434 167,837 223,500 Impairment charge - - (228,508 ) (112,904 ) (341,412 ) Balance, December 31, 2017 $ 96,695 $ 217,073 $ 129,842 $ 888,904 $ 1,332,514 Carrying amount at December 31, 2017 $ 3,379 $ 59,757 $ 42,850 $ 425,925 $ 531,911 Cost Balance, December 31, 2017 $ 100,074 $ 276,830 $ 172,692 $ 1,314,829 $ 1,864,425 Additions/Disposals 3,180 2,015 - 24,476 29,671 Impairment charge - - - (1,314,829 ) (1,314,829 ) Balance, December 31, 2018 $ 103,254 $ 278,845 $ 172,692 $ 24,476 $ 579,267 Accumulated depreciation Balance, December 31, 2017 $ 96,695 $ 217,073 $ 129,842 $ 888,904 $ 1,332,514 Depreciation for year 1,316 16,351 13,337 3,491 34,495 Impairment charge - - - (888,904 ) (888,904 ) Balance, December 31, 2018 $ 98,011 $ 233,424 $ 143,179 $ 3,491 $ 478,105 Carrying amount at December 31, 2018 $ 5,243 $ 45,421 $ 29,513 $ 20,985 $ 101,162 Cost Balance, December 31, 2018 $ 103,254 $ 278,845 $ 172,692 $ 24,476 $ 579,267 Additions - - 95,887 - 95,887 Disposals - - (48,973 ) - (48,973 ) Balance, December 31, 2019 $ 103,254 $ 278,845 $ 219,606 $ 24,476 $ 626,181 Accumulated depreciation Balance, December 31, 2018 $ 98,011 $ 233,424 $ 143,179 $ 3,491 $ 478,105 Disposals - - (39,178 ) - (39,178 ) Depreciation for year 792 12,445 10,641 3,892 27,770 Balance, December 31, 2019 $ 98,803 $ 245,869 $ 114,642 $ 7,383 $ 466,697 Carrying amount at December 31, 2019 $ 4,451 $ 32,976 $ 104,964 $ 17,093 $ 159,484

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	Dec. 31, 2019
Investment property [abstract]
Mineral properties	Gibellini Chandgana Tal Khavtgai Uul Pulacayo Paca Titan Total Balance, December 31, 2016 $ - $ 11,186,322 $ 3,232,443 $ 11,980,943 $ - $ 26,399,708 Additions: - Acquisition cost $ 58,790 $ - $ - $ - $ 96,200 $ 154,990 Deferred exploration costs: - Licenses, tax, and permits 74,876 27,190 242,766 - 344,832 Geological and consulting 272,620 39,362 - 102,592 414,574 Personnel, camp and general 84,070 2,492 2,492 726,015 815,069 431,566 69,044 245,258 828,607 1,574,475 Impairment - (11,255,366 ) (3,477,701 ) - (96,200 ) (14,829,267 ) Balance, December 31, 2017 $ 490,356 $ - $ - $ 12,809,550 $ - $ 13,299,906 Additions: Acquisition cost $ 425,605 $ - $ - $ - $ - $ 425,605 Deferred exploration costs: Licenses, tax, and permits 387,149 1,271 261,168 - - 649,588 Geological and consulting 1,509,587 - - 51,112 - 1,560,699 Personnel, camp and general 831,023 20,590 3,741 847,538 - 1,702,892 2,727,759 21,861 264,909 898,650 - 3,913,179 Impairment - (21,861 ) (264,909 ) (13,708,200 ) - (13,994,970 ) Balance, December 31, 2018 $ 3,643,720 $ - $ - $ - $ - $ 3,643,720 Additions: Acquisition cost $ - $ - $ - $ - $ - $ - Deferred exploration costs: Licenses, tax, and permits 286,158 - - - - 286,158 Geological and consulting 3,200,773 - - 970,955 - 4,171,728 Personnel, camp and general 1,470,007 - - 503,071 - 1,973,078 4,956,938 - - 1,474,026 - 6,430,964 Impairment Recovery - - - 13,708,200 - 13,708,200 Balance, December 31, 2019 $ 8,600,658 $ - $ - $ 15,182,226 $ - $ 23,782,884

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Trade and other current payables [abstract]
Accounts payable and accrued liabilities	December 31, 2019 December 31, 2018 December 31, 2017 Trade accounts payable $ 2,420,392 $ 1,536,786 $ 1,644,995 Accrued liabilities - 100,000 250,988 Lease liability 32,285 - - $ 2,452,677 $ 1,636,786 $ 1,895,983

PROVISION FOR CLOSURE AND REC_2

PROVISION FOR CLOSURE AND RECLAMATION (Tables)	12 Months Ended
	Dec. 31, 2019
Provisions [abstract]
Provision for closure and reclamation	December 31, 2019 December 31, 2018 December 31, 2017 Balance, beginning of year $ 265,239 $ 244,323 $ 242,374 Accretion 1,551 20,916 1,949 Balance, end of year $ 266,790 $ 265,239 $ 244,323

TAX PROVISION (Tables)

TAX PROVISION (Tables)	12 Months Ended
	Dec. 31, 2019
Other provisions [abstract]
Reconciliation of income taxes	2019 2018 2017 Loss for the year $ 17,513,854 $ (18,184,468 ) $ (18,592,981 ) Expected income tax (recovery) $ 4,729,000 $ (4,910,000 ) $ (4,834,000 ) Change in statutory, foreign tax, foreign exchange rates and other (529,000 ) 389,000 1,885,000 Permanent differences (4,861,000 ) 3,833,000 450,000 Share issue cost (103,000 ) (151,000 ) (25,000 ) Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses 1,205,000 12,000 (118,000 ) Change in unrecognized deductible temporary differences (441,000 ) 827,000 2,642,000 Total income tax expense (recovery) $ - $ - $ -
Deductible and taxable temporary differences, unused tax losses and unused tax credits	2019 Expiry Date Range 2018 Expiry Date Range 2017 Expiry Date Range Temporary Differences Exploration and evaluation assets $ 6,135,000 No expiry date $ 19,625,000 No expiry date $ 19,715,000 No expiry date Investment tax credit 23,000 2029 23,000 2029 23,000 2029 Property and equipment 1,242,000 No expiry date 1,138,000 No expiry date 1,146,000 No expiry date Share issue costs 747,000 2040 to 2043 644,000 2039 to 2042 285,000 2038 to 2041 Asset retirement obligation 267,000 No expiry date 265,000 No expiry date 244,000 No expiry date Allowable capital losses 5,864,000 No expiry date 6,607,000 No expiry date 6,549,000 No expiry date Non-capital losses avaialable for future periods 27,024,000 2023 to 2039 24,109,000 2030 to 2039 21,402,000 2030 to 2037

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of classes of share capital [abstract]
Stock option activity	Number of Options Weighted Average Exercise Price Outstanding, December 31, 2016 4,608,140 $ 0.64 Granted 4,080,000 $ 0.38 Expired (312,930 ) $ 2.08 Exercised (126,870 ) $ 0.40 Outstanding, December 31, 2017 8,248,340 $ 0.46 Granted 4,040,000 $ 0.31 Expired (349,720 ) $ 1.21 Cancelled (1,815,120 ) $ 0.45 Forfeited (445,000 ) $ 1.04 Exercised (87,500 ) $ 0.28 Outstanding, December 31, 2018 9,591,000 $ 0.34 Granted 3,965,000 $ 0.31 Expired (315,000 ) $ 0.65 Cancelled (2,247,000 ) $ 0.32 Forfeited (794,000 ) $ 0.54 Exercised (622,500 ) $ 0.28 Outstanding, September 30, 2019 9,577,500 $ 0.31
Stock options outstanding	Exercise Expiry Options Outstanding Exercisable Unvested Price Date December 31 December 31, December 31 December 31 2019 2018 2019 2019 $0.33 November 15, 2024 100,000 - 12,500 87,500 $0.44 November 1, 2024 1,610,000 - 201,250 1,408,750 $0.20 July 29, 2024 1,565,000 - 391,250 1,173,750 $0.21 April 1, 2024 500,000 - 187,500 312,500 $0.65 November 14, 2023 - 200,000 - - $0.33 October 17, 2023 705,000 940,000 352,500 352,500 $0.26 October 10, 2023 - 550,000 - - $0.22 July 23, 2023 400,000 400,000 250,000 150,000 $0.31 May 1, 2023 150,000 200,000 112,500 37,500 $0.28 April 6, 2023 862,500 1,225,000 646,875 215,625 $0.31 February 20, 2023 200,000 200,000 175,000 25,000 $0.35 September 1, 2022 980,000 1,250,000 980,000 - $0.33 June 12, 2022 805,000 1,225,000 805,000 - $0.49 January 12, 2022 620,000 820,000 620,000 - $0.20 June 2, 2021 990,000 1,420,000 990,000 - $0.50 June 22, 2020 30,000 311,000 30,000 - $0.50 April 7, 2020 60,000 535,000 60,000 - $0.65 May 1, 2019 - 315,000 - - 9,577,500 9,591,000 5,814,375 3,763,125
Weighted average assumptions	Year ended December 31, 2019 2018 2017 Risk-free interest rate 1.54 % 1.77 % 1.25 % Expected life of options in years 4.45 4.40 4.4 Expected volatility 132.75 % 135.71 % 133.55 % Expected dividend yield Nil Nil Nil Expected forfeiture rate 12 % 12 % 12 % Weighted average fair value of options granted during the period $ 0.31 $ 0.32 $ 0.32
Share-based payments	Year Ended December 31, 2019 2018 2017 Consolidated Statement of Operations Share based payments 707,802 553,430 599,117 $ 707,802 $ 553,430 $ 599,117 Consolidated Statement of Financial Position Chandgana Tal and power plant application - - 69,515 Gibellini exploration 79,888 87,186 - Pulacayo exploration 39,139 117,871 158,464 119,027 205,057 227,979 Total share-based payments $ 826,829 $ 758,487 $ 827,096
Warrant activity	Number of Warrants Weighted Average Exercise Price Outstanding, December 31, 2016 13,480,600 $ 0.47 Issued 12,453,680 $ 0.41 Exercised (150,000 ) $ 0.40 Expired (26,250 ) $ 0.70 Outstanding, December 31, 2017 25,758,030 $ 0.44 Issued 5,061,417 $ 0.40 Exercised (3,445,420 ) $ 0.39 Expired (56,000 ) $ 0.40 Outstanding, December 31, 2018 27,318,027 $ 0.44 Exercised (651,430 ) $ 0.38 Outstanding, December 31, 2019 26,666,597 $ 0.44
Warrants outstanding	Number of warrants Exercise Price Expiry Date at December 31, 2019 at December 31, 2018 $0.50 June 13, 2022 596,590 596,590 $0.50 April 12, 2022 1,032,500 1,032,500 $0.40 January 13, 2022 499,990 499,990 $0.44 August 29, 2021 1,013,670 1,013,670 $0.40 August 13, 2021 198,237 198,237 $0.40 July 6, 2021 3,863,180 3,863,180 $0.40 June 2, 2021 7,500,000 7,500,000 $0.30 April 23, 2021 - 100,000 $0.50 February 15, 2021 500,000 500,000 $0.40 January 25, 2021 650,000 650,000 $0.40 December 18, 2020 211,250 211,250 $0.70 November 13, 2020 625,000 625,000 $0.40 October 16, 2020 2,533,020 2,533,020 $0.70 September 30, 2020 1,112,000 1,112,000 $0.40 September 20, 2020 3,983,490 4,534,920 $0.60 June 24, 2020 1,147,670 1,147,670 $0.50 May 22, 2020 1,200,000 1,200,000 26,666,597 27,318,027

FAIR VALUE MEASUREMENTS AND F_2

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Financial assets measured at fair value	Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents, December 31, 2019 $ 3,017,704 $ - $ - $ 3,017,704 Cash and cash equivalents, December 31, 2018 $ 5,304,097 $ - $ - $ 5,304,097 Cash and cash equivalents, December 31, 2017 $ 4,100,608 $ - $ - $ 4,100,608
Financial assets and financial liabilities	December 31, 2019 December 31, 2018 December 31, 2017 Fair value through profit or loss Cash $ 3,017,704 $ 5,304,097 $ 4,100,608 Fair value through other comprehensive income Marketable securities $ - $ - $ 205,600 Amortized cost Receivables $ 246,671 $ 36,399 $ 34,653 Restricted cash equivalents $ 34,500 $ 34,500 $ 34,500 $ 3,298,875 $ 5,374,996 $ 4,375,361 Amortized cost Accounts payable and accrued liabilities $ 2,420,392 $ 1,636,786 $ 1,895,983 Lease liability $ 52,818 $ - $ - $ 2,473,210 $ 1,636,786 $ 1,895,983

FINANCIAL RISK MANAGEMENT DIS_2

FINANCIAL RISK MANAGEMENT DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Current and expected remaining contractual maturities	0 to 6 months 6 to 12 months Total Accounts payable and accrued liabilities As at December 31, 2019 $ 2,452,677 $ - $ 2,452,677 As at December 31, 2018 $ 1,636,786 $ - $ 1,636,786 As at December 31, 2017 $ 1,895,983 $ - $ 1,895,983 Lease liability as at December 31,2019 $ 16,143 $ 16,143 $ 32,285

RELATED PARTY DISCLOSURES (Tabl

RELATED PARTY DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2019
Related party transactions [abstract]
Related party transactions by related party	Year Ended December 31, Related parties 2019 2018 2017 Directors and officers $ 1,685,242 $ 1,265,152 $ 307,425 Linx Partners Ltd. 371,000 401,044 363,781 MaKevCo Consulting Inc. 21,400 21,200 23,600 Sophir Asia Ltd. 19,600 19,100 19,700 $ 2,097,242 $ 1,706,496 $ 714,506
Related party transactions by nature of transaction	Year Ended December 31, Related parties 2019 2018 2017 Consulting and management fees $ 218,500 $ 268,456 $ 247,525 Directors' fees 103,805 70,378 60,600 Mineral properties 1,171,585 631,610 201,875 Salaries 603,352 736,052 204,506 $ 2,097,242 $ 1,706,496 $ 714,506

KEY MANAGEMENT PERSONNEL COMP_2

KEY MANAGEMENT PERSONNEL COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2019
Key Management Personnel Compensation
Key management personnel compensation	Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, including directors of the Company. Year Ended December 31, Key Management Personnel 2019 2018 2017 Salaries and short term benefits $ 696,751 $ 775,064 $ 204,506 Directors' fees 103,805 70,378 60,600 Share-based payments 431,037 621,339 596,232 $ 1,231,593 $ 1,466,781 $ 861,338

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
Statement of cash flows [abstract]
Supplemental cash flow information	Year Ended December 31 2019 2018 2017 Supplementary information Interest paid $ - $ - $ 21,066 Non-Cash Financing and Investing Activities Shares issued to pay credit facility $ - $ - $ 900,000 Shares issued on acquisition of mineral property $ - $ - $ 96,200 Bonus shares and shares $ 115,000 $ - $ 190,320 Shares for services $ 241,003 $ - $ - Shares issued to settle debt $ 43,030 $ - $ 386,527 Shares issued recorded as prepaid expenses $ 35,000 $ - $ - Subscriptions receivable $ 30,497 $ - $ - Warrants issued for mineral property $ - $ 181,944 $ - Depreciation included in mineral property $ 3,487 $ 27,387 $ 216,653 Equipment expenditures included in accounts payable $ 472,213 $ 489,890 $ 580,634 Fair value loss/gain on marketable securities $ - $ 12,160 $ 12,160 Mineral property expenditures included in accounts payable $ 1,252,796 $ 1,067,747 $ 753,248 Share-based payments capitalized in mineral properties $ 119,028 $ 205,057 $ 227,979 Reclassification of contributed surplus on exercise of options $ 153,845 $ 15,350 $ 14,567 Reclassification of contributed surplus on exercise of warrants $ 28,478 $ 132,453 $ 10,650

COMMITMENTS (Tables)

COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Capital commitments [abstract]
Commitments	Except as disclosed elsewhere in these financial statements, the Company has the following financial obligations in the ordinary course of business: 2020 2021 2022 Total Office Lease Obligations $ 45,489 $ 24,574 $ 9,540 $ 79,603 $ 45,489 $ 24,574 $ 9,540 $ 79,603

BASIS OF CONSOLIDATION (Details

BASIS OF CONSOLIDATION (Details)	12 Months Ended
	Dec. 31, 2019
Subsidiary 1
Disclosure of subsidiaries [line items]
Subsidiary	Neveda Vanadium LLC
Location	USA
Ownership interest	100.00%
Operations and projects owned	Gibellini project
Subsidiary 2
Disclosure of subsidiaries [line items]
Subsidiary	VC Exploration (US) Inc,
Location	USA
Ownership interest	100.00%
Operations and projects owned	Gibellini project
Subsidiary 3
Disclosure of subsidiaries [line items]
Subsidiary	Apogee Minerals Bolivia S. A.
Location	Bolivia
Ownership interest	98.00%
Operations and projects owned	Pulacayo project
Subsidiary 4
Disclosure of subsidiaries [line items]
Subsidiary	ASC Holdings Limited
Location	Bolivia
Ownership interest	100.00%
Operations and projects owned	Pulacayo project
Subsidiary 5
Disclosure of subsidiaries [line items]
Subsidiary	Red Hill Mongolia LLC
Location	Mongolia
Ownership interest	100.00%
Operations and projects owned	Ulaan Ovoo mine
Subsidiary 6
Disclosure of subsidiaries [line items]
Subsidiary	Chandgana Coal LLC
Location	Mongolia
Ownership interest	100.00%
Operations and projects owned	Chandgana project

CHANGES IN ACCOUNTING POLICIE_2

CHANGES IN ACCOUNTING POLICIES (Details)	Dec. 31, 2019CAD ($)
Disclosure of voluntary change in accounting policy [abstract]
Lease commitments, beginning	$ 124,556
Less short-term commitments	(32,313)
Lease commitments, gross	92,243
Impact of discounting	(10,626)
Lease liability, ending	$ 81,617

SIGNIFICANT JUDGMENTS, ESTIMA_2

SIGNIFICANT JUDGMENTS, ESTIMATES AND ASSUMPTIONS (Details Narrative) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of changes in accounting estimates [abstract]
(Impairment)/recovery of mineral property	$ (13,708,200)	$ 13,994,970	$ 14,829,267
Impairment of receivables	16,304	21,004	61,202
Impairment of prepaid expenses	$ 51,828	$ 26,234	$ 57,420

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2019
Computer equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation of equipment	45%
Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation of equipment	20%
Leasehold improvement
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation of equipment	Straight line / 5 years
Mining equipment
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation of equipment	20%
Vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation of equipment	30%
Right-Of-Use Asset
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation of equipment	Straight line/ term of lease

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of operating segments [line items]
Reclamation deposits	$ 21,055	$ 21,055	$ 21,055
Equipment	159,484	101,162	531,911	$ 917,607
Mineral properties	23,782,884	3,643,720	13,299,906	$ 26,399,708
Total	23,963,423	3,765,937	13,852,872
Canada
Disclosure of operating segments [line items]
Reclamation deposits	0	0	0
Equipment	12,005	14,839	18,376
Mineral properties	0	0	0
Total	12,005	14,839	18,376
USA
Disclosure of operating segments [line items]
Reclamation deposits	0	0	0
Equipment	89,826	22,713	0
Mineral properties	8,600,658	3,643,720	490,356
Total	8,690,484	3,666,433	490,356
Mongolia
Disclosure of operating segments [line items]
Reclamation deposits	21,055	21,055	21,055
Equipment	35,721	33,440	48,364
Mineral properties	0	0	0
Total	56,776	54,495	69,419
Bolivia
Disclosure of operating segments [line items]
Reclamation deposits	0	0	0
Equipment	21,932	30,170	465,171
Mineral properties	15,182,226	0	12,809,550
Total	$ 15,204,158	$ 30,170	$ 13,274,721

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents [abstract]
Cash	$ 3,017,704	$ 804,097	$ 4,100,608
Cash equivalents	0	4,500,000	0
Restricted cash equivalents	34,500	34,500	34,500
Total	$ 3,052,204	$ 5,338,597	$ 4,135,108

CASH AND CASH EQUIVALENTS (De_2

CASH AND CASH EQUIVALENTS (Details Narrative) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and cash equivalents [abstract]
Guaranteed investment certificate	$ 34,500	$ 34,500	$ 34,500

RECEIVABLES (Details)

RECEIVABLES (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Trade and other current receivables [abstract]
Input tax recoverable	$ 20,741	$ 36,399	$ 10,562
Trade receivable	195,433	0	24,091
Subscriptions receivable	30,497	0	0
Total	$ 246,671	$ 36,399	$ 34,653

RECEIVABLES (Details Narrative)

RECEIVABLES (Details Narrative) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Trade and other current receivables [abstract]
Impairment of receivables	$ 16,304	$ 21,004	$ 61,202

PREPAID EXPENSES (Details)

PREPAID EXPENSES (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
DisclosureOfCurrentPrepaymentsLineItems [Line Items]
Prepaid expenses	$ 135,767	$ 123,272	$ 140,610
General
DisclosureOfCurrentPrepaymentsLineItems [Line Items]
Prepaid expenses	44,613	47,216	0
Insurance
DisclosureOfCurrentPrepaymentsLineItems [Line Items]
Prepaid expenses	59,815	57,882	41,029
Environmental and taxes
DisclosureOfCurrentPrepaymentsLineItems [Line Items]
Prepaid expenses	6,850	8,789	47,508
Rent
DisclosureOfCurrentPrepaymentsLineItems [Line Items]
Prepaid expenses	24,489	9,385	11,458
Market advisors
DisclosureOfCurrentPrepaymentsLineItems [Line Items]
Prepaid expenses	$ 0	$ 0	$ 40,615

PREPAID EXPENSES (Details Narra

PREPAID EXPENSES (Details Narrative) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current prepayments [abstract]
Impairment of prepaid expenses	$ 51,828	$ 26,234	$ 57,420

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale financial assets [abstract]
Marketable securities, beginning	$ 0	$ 205,600	$ 176,000
Additions	0	60,940	193,440
Disposals	0	(162,490)	(153,190)
Realized loss on disposal	0	(91,890)	(22,810)
Unrealized gain/(loss) on mark-to-market	0	(12,160)	12,160
Marketable securities, ending	$ 0	$ 0	$ 205,600

MARKETABLE SECURITIES (Details

MARKETABLE SECURITIES (Details Narrative) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Available-for-sale financial assets [abstract]
Unrealized gain/(loss) on mark-to-market	$ 0	$ (12,160)	$ 12,160

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	$ 101,162	$ 531,911	$ 917,607
Additions/disposals	0	0	0
Depreciation	0	0	0
Impairment charge	0	0	0
Property and equipment, beginning	159,484	101,162	531,911
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	579,267	1,864,425	2,565,846
Additions/disposals	95,887	29,671	(2,530)
Depreciation	(48,973)	0	0
Impairment charge		(1,314,829)	(501,078)
Property and equipment, beginning	626,181	579,267	1,864,425
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	478,105	1,332,514	1,648,239
Additions/disposals	(39,178)	0	0
Depreciation	27,770	34,495	223,500
Impairment charge		(888,904)	(341,412)
Property and equipment, beginning	466,697	478,105	1,332,514
Computer equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	5,243	3,379	5,321
Additions/disposals	0	0	0
Depreciation	0	0	0
Impairment charge	0	0	0
Property and equipment, beginning	4,451	5,243	3,379
Computer equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	103,254	100,074	100,221
Additions/disposals	0	3,180	(147)
Depreciation	0	0	0
Impairment charge		0	0
Property and equipment, beginning	103,254	103,254	100,074
Computer equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	98,011	96,695	94,900
Additions/disposals	0	0	0
Depreciation	792	1,316	1,795
Impairment charge		0	0
Property and equipment, beginning	98,803	98,011	96,695
Furniture and equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	45,421	59,757	97,574
Additions/disposals	0	0	0
Depreciation	0	0	0
Impairment charge	0	0	0
Property and equipment, beginning	32,976	45,421	59,757
Furniture and equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	278,845	276,830	279,213
Additions/disposals	0	2,015	(2,383)
Depreciation	0	0	0
Impairment charge		0	0
Property and equipment, beginning	278,845	278,845	276,830
Furniture and equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	233,424	217,073	181,639
Additions/disposals	0	0	0
Depreciation	12,445	16,351	35,434
Impairment charge		0	0
Property and equipment, beginning	245,869	233,424	217,073
Vehicles
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	29,513	42,850	113,938
Additions/disposals	0	0	0
Depreciation	0	0	0
Impairment charge	0	0	0
Property and equipment, beginning	104,964	29,513	42,850
Vehicles | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	172,692	172,692	453,854
Additions/disposals	95,887	0	0
Depreciation	(48,973)	0	0
Impairment charge		0	(281,162)
Property and equipment, beginning	219,606	172,692	172,692
Vehicles | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	143,179	129,842	339,916
Additions/disposals	(39,178)	0	0
Depreciation	10,641	13,337	18,434
Impairment charge		0	(228,508)
Property and equipment, beginning	114,642	143,179	129,842
Mining equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	20,985	425,925	700,774
Additions/disposals	0	0	0
Depreciation	0	0	0
Impairment charge	0	0	0
Property and equipment, beginning	17,093	20,985	425,925
Mining equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	24,476	1,314,829	1,534,745
Additions/disposals	0	24,476	0
Depreciation	0	0	0
Impairment charge		(1,314,829)	(219,916)
Property and equipment, beginning	24,476	24,476	1,314,829
Mining equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning	3,491	888,904	833,971
Additions/disposals	0	0	0
Depreciation	3,892	3,491	167,837
Impairment charge		(888,904)	(112,904)
Property and equipment, beginning	$ 7,383	3,491	888,904
Computer software
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning		0	0
Additions/disposals			0
Depreciation			0
Impairment charge			0
Property and equipment, beginning			0
Computer software | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning		197,813	197,813
Additions/disposals			0
Depreciation			0
Impairment charge			0
Property and equipment, beginning			197,813
Computer software | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning		197,813	197,813
Additions/disposals			0
Depreciation			0
Impairment charge			0
Property and equipment, beginning			197,813
Leasehold improvement
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning		0	0
Additions/disposals			0
Depreciation			0
Impairment charge			0
Property and equipment, beginning			0
Leasehold improvement | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning		0	0
Additions/disposals			0
Depreciation			0
Impairment charge			0
Property and equipment, beginning			0
Leasehold improvement | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property and equipment, beginning		$ 0	0
Additions/disposals			0
Depreciation			0
Impairment charge			0
Property and equipment, beginning			$ 0

MINERAL PROPERTIES (Details)

MINERAL PROPERTIES (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about investment property [line items]
Mineral properties, beginning	$ 3,643,720	$ 13,299,906	$ 26,399,708
Acquisition cost	6,123,401	3,609,896	1,398,207
Deferred exploration costs:
Licenses, tax, and permits	286,158	649,588	344,832
Geological and consulting	4,171,728	1,560,699	414,574
Personnel, camp and general	1,973,078	1,702,892	815,069
Deferred exploration costs	6,430,964	3,913,179	1,574,475
Impairment	13,708,200	(13,994,970)	(14,829,267)
Mineral properties, ending	23,782,884	3,643,720	13,299,906
Gibellini
Disclosure of detailed information about investment property [line items]
Mineral properties, beginning	3,643,720	490,356	0
Acquisition cost		425,605	58,790
Deferred exploration costs:
Licenses, tax, and permits	286,158	387,149	74,876
Geological and consulting	3,200,773	1,509,587	272,620
Personnel, camp and general	1,470,007	831,023	84,070
Deferred exploration costs	4,956,938	2,727,759	431,566
Impairment	0	0	0
Mineral properties, ending	8,600,658	3,643,720	490,356
Chandgana Tal
Disclosure of detailed information about investment property [line items]
Mineral properties, beginning	0	0	11,186,322
Acquisition cost		0	0
Deferred exploration costs:
Licenses, tax, and permits	0	1,271	27,190
Geological and consulting	0	0	39,362
Personnel, camp and general	0	20,590	2,492
Deferred exploration costs	0	21,861	69,044
Impairment	0	(21,861)	(11,255,366)
Mineral properties, ending	0	0	0
Khavtgai Uul
Disclosure of detailed information about investment property [line items]
Mineral properties, beginning	0	0	3,232,443
Acquisition cost		0	0
Deferred exploration costs:
Licenses, tax, and permits	0	261,168	242,766
Geological and consulting	0	0	0
Personnel, camp and general	0	3,741	2,492
Deferred exploration costs	0	264,909	245,258
Impairment	0	(264,909)	(3,477,701)
Mineral properties, ending	0	0	0
Pulacayo Paca
Disclosure of detailed information about investment property [line items]
Mineral properties, beginning	0	12,809,550	11,980,943
Acquisition cost		0	0
Deferred exploration costs:
Licenses, tax, and permits	0	0	0
Geological and consulting	970,955	51,112	102,592
Personnel, camp and general	503,071	847,538	726,015
Deferred exploration costs	1,474,026	898,650	828,607
Impairment	13,708,200	(13,708,200)	0
Mineral properties, ending	15,182,226	0	12,809,550
Titan
Disclosure of detailed information about investment property [line items]
Mineral properties, beginning	0	0	0
Acquisition cost		0	96,200
Deferred exploration costs:
Licenses, tax, and permits	0	0	0
Geological and consulting	0	0	0
Personnel, camp and general	0	0	0
Deferred exploration costs	0	0	0
Impairment	0	0	(96,200)
Mineral properties, ending	$ 0	$ 0	$ 0

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Trade and other current payables [abstract]
Trade accounts payable	$ 2,420,392	$ 1,536,786	$ 1,644,995
Accrued liabilities	0	100,000	250,988
Lease liability	32,285	0	0
Total	$ 2,452,677	$ 1,636,786	$ 1,895,983

PROVISION FOR CLOSURE AND REC_3

PROVISION FOR CLOSURE AND RECLAMATION (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Provisions [abstract]
Provision for closure and reclamation, beginning	$ 265,239	$ 244,323	$ 242,347
Accretion	1,551	20,916	1,976
Provision for closure and reclamation, ending	$ 266,790	$ 265,239	$ 244,323

PROVISION FOR CLOSURE AND REC_4

PROVISION FOR CLOSURE AND RECLAMATION (Details Narrative)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Provisions [abstract]
Risk-free interest rate	1.72%	1.98%	2.23%
Risk premium	7.00%	7.00%	7.00%

TAX PROVISION (Details)

TAX PROVISION (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other provisions [abstract]
Earnings (loss) for the year	$ 17,513,854	$ (18,184,468)	$ (18,592,981)
Expected income tax (recovery)	4,729,000	(4,910,000)	(4,834,000)
Change in statutory, foreign tax, foreign exchange rates and other	(529,000)	389,000	1,885,000
Permanent difference	(4,861,000)	3,833,000	450,000
Share issue cost	(103,000)	(151,000)	(25,000)
Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses	1,205,000	12,000	(118,000)
Change in unrecognized deductible temporary differences	(441,000)	827,000	2,642,000
Total income tax expense (recovery)	$ 0	$ 0	$ 0

TAX PROVISION (Details 1)

TAX PROVISION (Details 1) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Exploration and evaluation assets
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 6,135,000	$ 19,625,000	$ 19,715,000
Expiry dates	No expiry date	No expiry	No expiry
Investment tax credits
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 23,000	$ 23,000	$ 23,000
Expiry dates	2029	2029	2029
Property and equipment
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 1,242,000	$ 1,138,000	$ 1,146,000
Expiry dates	No expiry date	No expiry	No expiry
Share issue costs
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 747,000	$ 644,000	$ 285,000
Expiry dates	2040 to 2043	2039 to 2042	2038 to 2042
Asset retirement obligation
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 267,000	$ 265,000	$ 244,000
Expiry dates	No expiry date	No expiry	No expiry
Allowable capital losses
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 5,864,000	$ 6,607,000	$ 6,549,000
Expiry dates	No expiry date	No expiry	No expiry
Non-capital losses
Disclosure of other provisions [line items]
Deductible and taxable temporary differences, unused tax losses and unused tax credits	$ 27,024,000	$ 24,109,000	$ 21,402,000
Expiry dates	2023 to 2039	2030 to 2038	2030 to 2037

SHARE CAPITAL (Details 1)

SHARE CAPITAL (Details 1)	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares
Disclosure of classes of share capital [abstract]
Options, outstanding, beginning | shares	9,591,000	8,248,340	4,608,140
Options, granted | shares	3,965,000	4,040,000	4,080,000
Options, expired | shares	(315,000)	(349,720)	(312,930)
Options, cancelled | shares	(2,247,000)	(1,815,120)
Options, forfeited | shares	(794,000)	(445,000)
Options, exercised | shares	(622,500)	(87,500)	(126,870)
Options, outstanding, ending | shares	9,577,500	9,591,000	8,248,340
Weighted average exercise price, beginning | $ / shares	$ 0.34	$ 0.46	$ 0.64
Weighted average exercise price, granted | $ / shares	0.31	0.31	0.38
Weighted average exercise price, expired | $ / shares	0.65	1.21	2.08
Weighted average exercise price, cancelled | $ / shares	0.32	0.45	0
Weighted average exercise price, forfeited | $ / shares	0.54	1.04	0
Weighted average exercise price, exercised | $ / shares	0.28	0.28	0.40
Weighted average exercise price, outstanding, ending | $ / shares	$ 0.31	$ 0.34	$ 0.46

SHARE CAPITAL (Details 2)

SHARE CAPITAL (Details 2)	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares	Dec. 31, 2016shares$ / shares
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.31	$ 0.34	$ 0.46	$ 0.64
Options, outstanding	9,577,500	9,591,000	8,248,340	4,608,140
Options, exercisable	5,814,375
Options, unvested	3,763,125
Stock Option 1
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.33
Expiry date	15-Nov-24
Options, outstanding	100,000	0
Options, exercisable	12,500
Options, unvested	87,500
Stock Option 2
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.44
Expiry date	1-Nov-24
Options, outstanding	1,610,000	0
Options, exercisable	201,250
Options, unvested	1,408,750
Stock Option 3
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.20
Expiry date	29-Jul-24
Options, outstanding	1,565,000	0
Options, exercisable	391,250
Options, unvested	1,173,750
Stock Option 4
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.21
Expiry date	1-Apr-24
Options, outstanding	500,000	0
Options, exercisable	187,500
Options, unvested	312,500
Stock Option 5
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.65
Expiry date	14-Nov-23
Options, outstanding	0	200,000
Options, exercisable	0
Options, unvested	0
Stock Option 6
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.33
Expiry date	17-Oct-23
Options, outstanding	705,000	940,000
Options, exercisable	352,500
Options, unvested	352,500
Stock Option 7
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.26
Expiry date	10-Oct-23
Options, outstanding	0	550,000
Options, exercisable	0
Options, unvested	0
Stock Option 8
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.22
Expiry date	23-Jul-23
Options, outstanding	400,000	400,000
Options, exercisable	250,000
Options, unvested	150,000
Stock Option 9
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.31
Expiry date	1-May-23
Options, outstanding	150,000	200,000
Options, exercisable	112,500
Options, unvested	37,500
Stock Option 10
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.28
Expiry date	6-Apr-23
Options, outstanding	862,500	1,225,000
Options, exercisable	646,875
Options, unvested	215,625
Stock Option 11
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.31
Expiry date	20-Feb-23
Options, outstanding	200,000	200,000
Options, exercisable	175,000
Options, unvested	25,000
Stock Option 12
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.35
Expiry date	1-Sep-22
Options, outstanding	980,000	1,250,000
Options, exercisable	980,000
Options, unvested	0
Stock Option 13
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.33
Expiry date	12-Jun-22
Options, outstanding	805,000	1,225,000
Options, exercisable	805,000
Options, unvested	0
Stock Option 14
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.49
Expiry date	12-Jan-22
Options, outstanding	620,000	820,000
Options, exercisable	620,000
Options, unvested	0
Stock Option 15
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.20
Expiry date	2-Jun-21
Options, outstanding	990,000	1,420,000
Options, exercisable	990,000
Options, unvested	0
Stock Option 16
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.50
Expiry date	22-Jun-20
Options, outstanding	30,000	311,000
Options, exercisable	30,000
Options, unvested	0
Stock Option 17
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.50
Expiry date	7-Apr-20
Options, outstanding	60,000	535,000
Options, exercisable	60,000
Options, unvested	0
Stock Option 18
Disclosure of range of exercise prices of outstanding share options [line items]
Exercise price | $ / shares	$ 0.65
Expiry date	1-May-19
Options, outstanding	0	315,000
Options, exercisable	0
Options, unvested	0

SHARE CAPITAL (Details 3)

SHARE CAPITAL (Details 3) - yr	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of classes of share capital [abstract]
Risk-free interest rate	1.54%	1.77%	1.25%
Expected life of options in years	4.45	4.4	4.4
Expected volatility	132.75%	135.71%	133.55%
Expected dividend yield	0.00%	0.00%	0.00%

SHARE CAPITAL (Details 4)

SHARE CAPITAL (Details 4) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated Statement of Operations
Share-based payments	$ 707,802	$ 553,430	$ 599,117
Consolidated Statement of Financial Position
Share-based payments	119,027	205,057	227,979
Total share-based payments	826,829	758,487	827,096
Chandgana Tal and power plant application
Consolidated Statement of Financial Position
Share-based payments	0	0	69,515
Gibellini exploration
Consolidated Statement of Financial Position
Share-based payments	79,888	87,186	0
Pulacavo exploration
Consolidated Statement of Financial Position
Share-based payments	$ 39,139	$ 117,871	$ 158,464

SHARE CAPITAL (Details 5)

SHARE CAPITAL (Details 5)	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares
Disclosure of classes of share capital [abstract]
Warrants, outstanding, beginning | shares	27,318,027	25,758,030	13,480,600
Warrants, issued | shares	0	5,061,417	12,453,680
Warrants, exercised | shares	(651,430)	(3,445,420)	(150,000)
Warrants, expired | shares	0	(56,000)	(26,250)
Warrants, outstanding, ending | shares	26,666,597	27,318,027	25,758,030
Weighted average exercise price, beginning | $ / shares	$ 0.44	$ 0.44	$ 0.47
Weighted average exercise price, issued | $ / shares	0	0.40	0.41
Weighted average exercise price, exercised | $ / shares	0.38	0.39	0.40
Weighted average exercise price, expired | $ / shares	0	0.40	0.70
Weighted average exercise price, outstanding, ending | $ / shares	$ 0.44	$ 0.44	$ 0.44

SHARE CAPITAL (Details 6)

SHARE CAPITAL (Details 6)	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares	Dec. 31, 2016shares$ / shares
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.44	$ 0.44	$ 0.44	$ 0.47
Warrants, outstanding | shares	26,666,597	27,318,027	25,758,030	13,480,600
Warrants 1
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.50
Expiry date	13-Jun-22
Warrants, outstanding | shares	596,590	596,590
Warrants 2
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.50
Expiry date	12-Apr-22
Warrants, outstanding | shares	1,032,500	1,032,500
Warrants 3
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	13-Jan-22
Warrants, outstanding | shares	499,990	499,990
Warrants 4
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.44
Expiry date	29-Aug-21
Warrants, outstanding | shares	1,013,670	1,013,670
Warrants 5
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	13-Aug-21
Warrants, outstanding | shares	198,237	198,237
Warrants 6
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	6-Jul-21
Warrants, outstanding | shares	3,863,180	3,863,180
Warrants 7
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	2-Jun-21
Warrants, outstanding | shares	7,500,000	7,500,000
Warrants 8
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.30
Expiry date	23-Apr-21
Warrants, outstanding | shares	0	100,000
Warrants 9
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.50
Expiry date	15-Feb-21
Warrants, outstanding | shares	500,000	500,000
Warrants 10
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	25-Jan-21
Warrants, outstanding | shares	650,000	650,000
Warrants 11
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	18-Dec-20
Warrants, outstanding | shares	211,250	211,250
Warrants 12
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.70
Expiry date	13-Nov-20
Warrants, outstanding | shares	625,000	625,000
Warrants 13
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	16-Oct-20
Warrants, outstanding | shares	2,533,020	2,533,020
Warrants 14
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.70
Expiry date	30-Sep-20
Warrants, outstanding | shares	1,112,000	1,112,000
Warrants 15
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	20-Sep-20
Warrants, outstanding | shares	3,983,490	4,534,920
Warrants 16
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.60
Expiry date	24-Jun-20
Warrants, outstanding | shares	1,147,670	1,147,670
Warrants 17
DisclosureOfRangeOfExercisePricesOfOutstandingWarrantsLineItems [Line Items]
Exercise price | $ / shares	$ 0.40
Expiry date	22-May-20
Warrants, outstanding | shares	1,200,000	1,200,000

FAIR VALUE MEASUREMENTS AND F_3

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of financial assets [line items]
Cash	$ 3,017,704	$ 5,304,097	$ 4,100,608	$ 21,648
Level 1
Disclosure of financial assets [line items]
Cash	3,017,704	5,304,097	4,100,608
Level 2
Disclosure of financial assets [line items]
Cash	5,304,097	0	0
Level 3
Disclosure of financial assets [line items]
Cash	$ 4,100,608	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND F_4

FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Details 1) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair value through profit or loss
Cash	$ 3,017,704	$ 5,304,097	$ 4,100,608	$ 21,648
Fair value through other comprehensive income
Marketable securities	0	0	205,600	$ 176,000
Amortized cost
Receivables	246,671	36,399	34,653
Restricted cash equivalents	34,500	34,500	34,500
Financial assets	3,298,875	5,374,996	4,375,361
Amortized cost
Accounts payable and accrued liabilities	2,420,392	1,636,786	1,895,983
Credit facility	52,818	0	0
Financial liabilities	$ 2,473,210	$ 1,636,786	$ 1,895,983

FINANCIAL RISK MANAGEMENT DIS_3

FINANCIAL RISK MANAGEMENT DISCLOSURES (Details) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of nature and extent of risks arising from financial instruments [line items]
Accounts payable and accrued liabilities	$ 2,420,392	$ 1,636,786	$ 1,895,983
Lease Liability	32,285	0	0
0 to 6 months
Disclosure of nature and extent of risks arising from financial instruments [line items]
Accounts payable and accrued liabilities	2,452,677	1,636,786	1,895,983
Lease Liability	16,143
6 to 12 months
Disclosure of nature and extent of risks arising from financial instruments [line items]
Accounts payable and accrued liabilities	0	$ 0	$ 0
Lease Liability	$ 16,143

FINANCIAL RISK MANAGEMENT DIS_4

FINANCIAL RISK MANAGEMENT DISCLOSURES (Details Narrative) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Cash	$ 3,017,704	$ 5,304,097	$ 4,100,608	$ 21,648
Accounts payable and accrued liabilities	$ 2,420,392	$ 1,636,786	$ 1,895,983

RELATED PARTY DISCLOSURES (Deta

RELATED PARTY DISCLOSURES (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Related party transactions	$ 2,097,242	$ 1,706,496	$ 714,506
Directors and officers
Disclosure of transactions between related parties [line items]
Related party transactions	1,685,242	1,265,152	307,425
LinxPartners Ltd.
Disclosure of transactions between related parties [line items]
Related party transactions	371,000	401,044	363,781
MakevCo Consulting Inc.
Disclosure of transactions between related parties [line items]
Related party transactions	21,400	21,200	23,600
Sophir Asia Ltd.
Disclosure of transactions between related parties [line items]
Related party transactions	$ 19,600	$ 19,100	$ 19,700

RELATED PARTY DISCLOSURES (De_2

RELATED PARTY DISCLOSURES (Details 1) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Related party transactions	$ 2,097,242	$ 1,706,496	$ 714,506
Consulting and management fees
Disclosure of transactions between related parties [line items]
Related party transactions	218,500	268,456	247,525
Directors' fees
Disclosure of transactions between related parties [line items]
Related party transactions	103,805	70,378	60,600
Mineral properties
Disclosure of transactions between related parties [line items]
Related party transactions	1,171,585	631,610	201,875
Salaries
Disclosure of transactions between related parties [line items]
Related party transactions	$ 603,352	$ 736,052	$ 204,506

RELATED PARTY DISCLOSURES (De_3

RELATED PARTY DISCLOSURES (Details Narrative) - CAD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related party transactions [abstract]
Due to related parties	$ 30,533	$ 4,634	$ 160,503

KEY MANAGEMENT PERSONNEL COMP_3

KEY MANAGEMENT PERSONNEL COMPENSATION (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Key Management Personnel Compensation
Salaries and short term benefits	$ 696,751	$ 775,064	$ 204,506
Directors' fees	103,805	70,378	60,600
Share-based payments	431,037	621,339	596,232
Total	$ 1,231,593	$ 1,396,403	$ 800,738

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplementary information
Interest paid	$ 0	$ 0	$ 21,066
Non-Cash Financing and Investing Activities
Shares issued to pay credit facility	0	0	900,000
Shares issued on acquisition of mineral property	0	0	96,200
Bonus shares	115,000	0	190,320
Shares for services	241,003	0	0
Shares issued to settle debt	43,030	0	386,527
Shares issued recorded as prepaid expenses	35,000	0	0
Subscription receivable	30,497	0	0
Warrants issued for mineral property	0	181,944	0
Depreciation included in mineral properties	3,487	27,387	216,653
Equipment expenditures included in accounts payable	472,213	489,890	580,634
Fair value loss/gain on available-for-sale investments	0	12,160	12,160
Mineral property expenditures included in accounts payable	1,252,796	1,067,747	753,248
Share-based payments capitalized in mineral properties	119,028	205,057	227,979
Reclassification of contributed surplus on exercise of options	153,845	15,350	14,567
Reclassification of contributed surplus on exercise of warrants	$ 28,478	$ 132,453	$ 10,650

COMMITMENTS (Details)

COMMITMENTS (Details)	Dec. 31, 2019CAD ($)
DisclosureOfCapitalCommitmentsLineItems [Line Items]
Office lease obligations	$ 79,603
Total	79,603
2020
DisclosureOfCapitalCommitmentsLineItems [Line Items]
Office lease obligations	45,489
Total	45,489
2021
DisclosureOfCapitalCommitmentsLineItems [Line Items]
Office lease obligations	24,574
Total	24,574
2022
DisclosureOfCapitalCommitmentsLineItems [Line Items]
Office lease obligations	9,540
Total	$ 9,540