Austin Gold (AUST) 6-K6 Nov 242024 Q3 Current report (foreign)Financial data

Company Profile

Document and Entity Information

Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2024
Document and Entity Information
Document Type	6-K
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Entity Registrant Name	AUSTIN GOLD CORP.
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001817740
Amendment Flag	false

CONDENSED INTERIM CONSOLIDATED

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 555,712	$ 907,551
Short-term investments	5,165,001	8,618,386
Receivables and other	452,969	190,564
Total current assets	6,173,682	9,716,501
Non-current assets
Marketable securities	10,247	7,422
Exploration and evaluation ("E&E") assets	3,762,497	2,280,490
Property and equipment	10,357	827
Total assets	9,956,783	12,005,240
Current liabilities
Accounts payable and accrued liabilities	111,196	676,605
Total liabilities	111,196	676,605
SHAREHOLDERS' EQUITY
Share capital	16,568,175	16,568,175
Other reserves	3,211,721	2,355,931
Accumulated other comprehensive income (loss) ("AOCI")	(574,949)	(574,949)
Deficit	(9,359,360)	(7,020,522)
Total equity	9,845,587	11,328,635
Total liabilities and shareholders' equity	$ 9,956,783	$ 12,005,240

CONDENSED INTERIM CONSOLIDATE_2

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Administrative expenses
Investor relations and marketing	$ 548,200	$ 37,695	$ 821,669	$ 104,100
Share - based compensation	184,026	39,875	749,389	179,762
Management salaries and consulting fees	156,839	154,476	478,607	427,232
Insurance	66,213	86,797	224,658	273,254
Professional fees	40,373	35,396	182,966	222,778
Listing and filing fees	2,728	52,598	65,874	153,954
Shareholder information	1,057	4,988	41,499	47,101
General and administrative	8,789	3,035	29,068	12,327
Travel expenses	8,577	5,468	21,771	12,927
Depreciation	612	89	1,470	266
Operating loss	(1,017,414)	(420,417)	(2,616,971)	(1,433,701)
Write-off of E&E assets	(2,713)	(1,471)	(3,763)	(1,225,129)
Foreign exchange (loss) gain	613	(442)	(521)	2,130
Unrealized fair value gain (loss) on marketable securities	(4,097)	149	2,825	(7,562)
Interest and finance income	75,568	130,069	279,742	366,700
Loss before taxes	(948,043)	(292,112)	(2,338,688)	(2,297,562)
Current income tax expense	0	0	(150)	(155)
Loss and comprehensive loss for the period	$ (948,043)	$ (292,112)	$ (2,338,838)	$ (2,297,717)
Loss per share - basic and diluted
Basic (in dollars per share)	$ (0.07)	$ (0.02)	$ (0.18)	$ (0.17)
Diluted (in dollars per share)	$ (0.07)	$ (0.02)	$ (0.18)	$ (0.17)
Weighted average number of shares
Basic (in shares)	13,271,750	13,271,750	13,271,750	13,271,750
Diluted (in shares)	13,271,750	13,271,750	13,271,750	13,271,750

CONDENSED INTERIM CONSOLIDATE_3

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash flows used in operating activities
Net loss for the period	$ (948,043)	$ (292,112)	$ (2,338,838)	$ (2,297,717)
Items not affecting cash:
Current income tax expense	0	0	150	155
Depreciation	612	89	1,470	266
Interest and finance income	(75,568)	(130,069)	(279,742)	(366,700)
Share-based compensation	184,026	39,875	749,389	179,762
Unrealized fair value (gain) loss on marketable securities	4,097	(149)	(2,825)	7,562
Unrealized foreign exchange (gain) loss	82	107	(124)	(51)
Write-off of E&E assets	2,713	1,471	3,763	1,225,129
Changes in non-cash working capital items:
Receivables and other	(213,159)	79,368	(262,405)	(10,722)
Accounts payable and accrued liabilities	4,650	(21,219)	(58,396)	2,968
Income taxes paid	0	0	(150)	(155)
Net cash used in operating activities	(1,040,590)	(322,639)	(2,187,708)	(1,259,503)
Cash flows generated by investing activities
Purchase of property and equipment	0	0	(11,000)	0
Expenditures on E&E assets	(432,685)	(818,273)	(1,884,389)	(1,112,719)
Interest received	170,671	162,009	333,127	405,679
Purchase of short-term investments	(3,350,000)	(4,000,000)	(6,100,000)	(12,000,000)
Redemption of short-term investments	4,000,000	6,500,000	9,500,000	16,500,000
Net cash generated by investing activities	387,986	1,843,736	1,837,738	3,792,960
(Decrease) increase in cash and cash equivalents for the period	(652,604)	1,521,097	(349,970)	2,533,457
Cash and cash equivalents, beginning of period	1,207,937	1,644,336	907,551	630,623
Effect of foreign exchange rate changes on cash and cash equivalents	379	(1,246)	(1,869)	107
Cash and cash equivalents, end of period	$ 555,712	$ 3,164,187	$ 555,712	$ 3,164,187

CONDENSED INTERIM CONSOLIDATE_4

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Share capital	Other reserves	AOCI	Deficit	Total
Balance beginning at Dec. 31, 2022	$ 16,329,958	$ 2,044,692	$ (574,949)	$ (3,019,851)	$ 14,779,850
Balance beginning (in shares) at Dec. 31, 2022	13,271,750
Value assigned to share options and warrants vested		209,658			209,658
Loss for the period				(2,297,717)	(2,297,717)
Balance ending at Sep. 30, 2023	$ 16,329,958	2,254,350	(574,949)	(5,317,568)	12,691,791
Balance ending (in shares) at Sep. 30, 2023	13,271,750
Balance beginning at Dec. 31, 2023	$ 16,568,175	2,355,931	(574,949)	(7,020,522)	11,328,635
Balance beginning (in shares) at Dec. 31, 2023	13,271,750
Value assigned to share options and warrants vested		855,790			855,790
Loss for the period				(2,338,838)	(2,338,838)
Balance ending at Sep. 30, 2024	$ 16,568,175	$ 3,211,721	$ (574,949)	$ (9,359,360)	$ 9,845,587
Balance ending (in shares) at Sep. 30, 2024	13,271,750

NATURE OF OPERATIONS AND GOING

NATURE OF OPERATIONS AND GOING CONCERN	9 Months Ended
NATURE OF OPERATIONS AND GOING CONCERN	Sep. 30, 2024
NATURE OF OPERATIONS AND GOING CONCERN
NATURE OF OPERATIONS AND GOING CONCERN	1. NATURE OF OPERATIONS AND GOING CONCERN (a) Nature of operations Austin Gold Corp. (the “Company”) was incorporated on April 21, 2020, in British Columbia (“BC”), Canada. The Company is a reporting issuer in BC and its common shares are traded on the NYSE American stock exchange under the symbol “AUST”. The Company’s principal place of business is the 9th Floor, 1021 West Hastings Street, Vancouver, BC, Canada, V6E 0C3. The Company is focused on the acquisition, exploration and evaluation of mineral resource properties primarily in the western United States of America (“USA”). The Company has not yet determined whether its mineral resource properties contain mineral reserves that are economically recoverable. The continued operation of the Company is dependent upon the preservation of its interest in its properties, the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the exploration, evaluation and development of such properties and upon future profitable production or proceeds from the disposition of such properties. (b) Going concern assumption These unaudited condensed interim consolidated financial statements are prepared on a going concern basis, which contemplates that the Company will be able to meet its commitments, continue operations and realize its assets and discharge its liabilities in the normal course of business for at least twelve months from September 30, 2024. The Company has incurred ongoing losses and expects to incur further losses in the advancement of its business activities. For the nine months ended September 30, 2024, the Company incurred a net loss of $2,338,838 (2023 – $2,297,717) and used cash in operating activities of $2,187,708 (2023 – $1,259,503). As at September 30, 2024, the Company had cash and cash equivalents of $555,712 (December 31, 2023 – $907,551), a working capital (current assets less current liabilities) surplus of $6,062,486 (December 31, 2023 – $9,039,896) and an accumulated deficit of $9,359,360 (December 31, 2023 – $7,020,522). The operations of the Company have primarily been funded by the issuance of common shares. These unaudited condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence. Management estimates its current working capital will be sufficient to fund its current level of activities for at least the next twelve months.

MATERIAL ACCOUNTING POLICY INFO

MATERIAL ACCOUNTING POLICY INFORMATION	9 Months Ended
MATERIAL ACCOUNTING POLICY INFORMATION	Sep. 30, 2024
MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL ACCOUNTING POLICY INFORMATION	2. MATERIAL ACCOUNTING POLICY INFORMATION (a) Statement of compliance These unaudited condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34, Interim Financial Reporting The Company’s material accounting policy information applied in these unaudited condensed interim consolidated financial statements are the same as those disclosed in Note 3 of the Company’s annual consolidated financial statements for the years ended December 31, 2023, 2022 and 2021. These unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s most recent audited annual consolidated financial statements. The functional currency of the Company and its subsidiary is the United States dollar (“USD” or “$”). The presentation currency of these unaudited condensed interim consolidated financial statements is USD. Any reference to Canadian dollars is denoted by “C$” or “CAD”. 2. MATERIAL ACCOUNTING POLICY INFORMATION (Continued) These unaudited condensed interim consolidated financial statements were authorized for issuance by the Board of Directors on November 6, 2024. (b) Significant accounting estimates and judgments The preparation of financial statements requires the use of accounting estimates. It also requires management to exercise judgment in the process of applying its accounting policies. Estimates and policy judgments are regularly evaluated and are based on management’s experience and other factors, including expectations about future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Significant accounting policy judgments include: ● The assessment of the Company’s ability to continue as a going concern which requires judgment related to future funding available to identify new business opportunities and meet working capital requirements, the outcome of which is uncertain (refer to Note 1b); and ● The application of the Company’s accounting policy for impairment of E&E assets which requires judgment to determine whether indicators of impairment exist including factors such as the period for which the Company has the right to explore, expected renewals of exploration rights, whether substantive expenditures on further E&E of resource properties are budgeted and evaluation of the results of E&E activities up to the reporting date. Management assessed impairment indicators for the Company’s E&E assets and has concluded that no impairment indicators exist as of September 30, 2024. (c) New accounting standards and recent pronouncements The following standards, amendments and interpretations have been issued but are not yet effective: ● In April 2024, the IASB issued IFRS 18 – Presentation and Disclosure in Financial Statements which will replace IAS 1, Presentation of Financial Statements . The new standard on presentation and disclosure in financial statements focuses on updates to the statement of profit or loss. The key new concepts introduced in IFRS 18 relate to the structure of the statement of profit or loss, required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. Many of the other existing principles in IAS 1 are retained, with limited changes. IFRS 18 will apply for reporting periods beginning on or after January 1, 2027 and also applies to comparative information. The Company is in the process of assessing the impact of this standard. There are no other IFRS Accounting Standards or International Financial Reporting Interpretations Committee interpretations that are not yet effective or early adopted that are expected to have a significant impact on the Company.

CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS	9 Months Ended
CASH AND CASH EQUIVALENTS	Sep. 30, 2024
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS	3. CASH AND CASH EQUIVALENTS As at September 30, 2024, the composition of cash and cash equivalents consists of cash in the amount of $555,712 (December 31, 2023 – $907,551). The Company does not hold any term deposits with an original maturity date of less than three months.

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	9 Months Ended
SHORT-TERM INVESTMENTS	Sep. 30, 2024
SHORT-TERM INVESTMENTS
SHORT-TERM INVESTMENTS	4. SHORT-TERM INVESTMENTS September 30, December 31, 2024 2023 Term deposits $ 4,409,046 $ 7,084,482 Redeemable short - term investment certificates (“RSTICs”) 755,955 1,533,904 $ 5,165,001 $ 8,618,386 As at September 30, 2024, the term deposits mature between November 12, 2024 and June 9, 2025 and the RSTICs mature on July 22, 2025.

RECEIVABLES AND OTHER

RECEIVABLES AND OTHER	9 Months Ended
RECEIVABLES AND OTHER	Sep. 30, 2024
RECEIVABLES AND OTHER
RECEIVABLES AND OTHER	5. RECEIVABLES AND OTHER September 30, December 31, 2024 2023 Prepaid expenses and deposits $ 439,637 $ 156,234 Tax receivables 13,332 34,330 $ 452,969 $ 190,564

E&E ASSETS

E&E ASSETS	9 Months Ended
E&E ASSETS	Sep. 30, 2024
E&E ASSETS
E&E ASSETS	6. E&E ASSETS The E&E assets of the Company, by property and nature of expenditure, as of September 30, 2024 were as follows: Kelly Lone Stockade Fourmile Creek Mountain Mountain Miller Basin Total Balance - December 31, 2023 $ 636,708 $ 776,682 $ 867,100 $ — $ — $ 2,280,490 E&E expenditures: Acquisition costs 20,000 — 15,000 — — 35,000 Assays — 41,135 21,101 — — 62,236 Consulting 900 65,340 190,165 900 1,650 258,955 Drilling — — 543,613 — — 543,613 Field supplies and rentals — 1,070 81,008 — — 82,078 Field work — 60,050 60,613 — — 120,663 Geophysics — — 3,180 — — 3,180 Government payments 21,023 161,568 56,092 (3) 378 239,058 Share-based compensation 35,467 35,467 35,467 — — 106,401 Technical and assessment reports — 19,600 — — — 19,600 Travel — 3,821 10,327 — 838 14,986 Write-off of E&E assets — — — (897) (2,866) (3,763) Total E&E expenditures 77,390 388,051 1,016,566 — — 1,482,007 Balance - September 30, 2024 $ 714,098 $ 1,164,733 $ 1,883,666 $ — $ — $ 3,762,497 (a) Kelly Creek Project (Nevada, USA) The Company entered into an agreement with Pediment Gold LLC (“Pediment”), a subsidiary of URZ3 Energy Corp. (“URZ”) ( formerly Nevada Exploration Inc. (“NGE”) 6. E&E ASSETS (Continued) On June 3, 2024, the Company and Pediment agreed to amend the terms of the option to enter joint venture agreement. Under this third amendment, the Company may exercise the option to earn a 51% interest in the project by incurring a cumulative total of C$2,500,000 (in progress) of E&E expenditures on the project by June 30, 2027. The cumulative total includes E&E expenditures incurred on the project to date in the amount of $923,757. The Company has the option to increase its participating interest by an additional 19% to a total of 70% by incurring an additional C$2,500,000 on E&E expenditures with no time limit, although the Company must continue to pay the underlying property lease payments and the United States Department of the Interior Bureau of Land Management (“BLM”) and county fees to keep the properties subject to the joint venture in good standing. There are minimum annual royalty payments required by the Company as part of an underlying agreement within the Kelly Creek Project. On June 6, 2024, the Company and Julian Tomera Ranches, Inc. agreed to amend the terms of the mining lease agreement (the “Hot Pot Agreement”). Under this sixth amendment, the Company is subject to the following minimum payments: September 16, 2021 $ 30,000 Paid September 16, 2022 $ 30,000 Paid September 16, 2023 $ 30,000 Paid September 16, 2024 $ 20,000 Paid September 16, 2025 $ 20,000 September 16, 2026 $ 25,000 September 16, 2027 and every year thereafter $ 30,000 Any mineral production on the claims is subject to a 3.0% net smelter return royalty which can be reduced to 2.0% upon payment of $2,000,000. The Hot Pot lease and any additional property within 2.5 miles of the original boundary of the claims is also subject to 1.25% net smelter return royalty in favour of Battle Mountain Gold Exploration Corporation. (b) Lone Mountain Property (Nevada, USA) The Company entered into a mineral lease agreement with an option to purchase the Lone Mountain Project with NAMMCO. Under the terms of the agreement, the Company is subject to the following pre-production payments: Signing of the lease $ 80,000 Paid November 1, 2021 $ 30,000 Paid November 1, 2022 $ 20,000 Paid November 1, 2023 $ 20,000 Paid November 1, 2024 $ 30,000 Paid (1) November 1, 2025 and every year thereafter (2) $ 30,000 (1) Paid subsequent to September 30, 2024. (2) Pre-production payments increase by $10,000 every year after November 1, 2025 to a maximum of $200,000 . 6. E&E ASSETS (Continued) The Company is required to incur the following minimum E&E expenditures on the property: September 1, 2024 $ 150,000 Completed September 1, 2025 $ 250,000 In progress September 1, 2026 $ 300,000 In progress September 1, 2027 $ 300,000 In progress September 1, 2028 $ 400,000 In progress September 1, 2029 (1) $ 400,000 In progress (1) The work commitment terminates when $1,800,000 has been spent on the property. Any mineral production on the claims is subject to a 3.0% net smelter return royalty. The net smelter return royalty can be reduced by 0.5% to 2.5% for $2,000,000. The Company has the option to purchase the entire interest in the project, except for the royalty, once there is a discovery of at least 500,000 ounces of gold (or equivalent in other metals) or a pre-feasibility study has been completed. The Company may exercise this option by payment of $2,000,000, reduced by the pre-production payments paid to the date of purchase. (c) Stockade Mountain Project (Oregon, USA) The Company entered into a mineral lease and option agreement with Bull Mountain Resources, LLC (“BMR”) to lease a 100% interest in the Stockade Mountain Project. Under the terms of the agreement, the Company is subject to the following pre-production payments: May 16, 2022 $ 15,000 Paid November 16, 2022 $ 10,000 Paid May 16, 2023 $ 10,000 Paid November 16, 2023 $ 15,000 Paid May 16, 2024 $ 15,000 Paid November 16, 2024 and every six months thereafter $ 25,000 The Company is required to incur minimum E&E expenditures on the property of $30,000 by May 16, 2023 (completed). On February 28, 2024, the Company executed an amendment to the mineral lease and option agreement with BMR eliminating the requirement of 2,000 meters of drilling by May 16, 2024. BMR will retain a 2.0% net smelter return royalty on claims owned by BMR and 0.25% net smelter return royalty on third-party claims acquired within the area of influence around the property. Payments to BMR totaling $10,000,000 in any combination of pre-production payments, production or minimum royalties will reduce the production royalties on wholly owned claims by 50% to 1.0%.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
PROPERTY AND EQUIPMENT	Sep. 30, 2024
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT	7. PROPERTY AND EQUIPMENT Property and equipment Net book value - December 31, 2023 $ 827 Additions 11,000 Depreciation (1,470) Net book value - September 30, 2024 $ 10,357 Property and equipment consists of exploration equipment and information technology hardware.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	9 Months Ended
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	Sep. 30, 2024
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	8. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES September 30, December 31, 2024 2023 Trade payables $ 97,862 $ 638,671 Accrued liabilities 13,334 37,934 $ 111,196 $ 676,605

SHARE CAPITAL AND OTHER RESERVE

SHARE CAPITAL AND OTHER RESERVES	9 Months Ended
SHARE CAPITAL AND OTHER RESERVES	Sep. 30, 2024
SHARE CAPITAL AND OTHER RESERVES
SHARE CAPITAL AND OTHER RESERVES	9. SHARE CAPITAL AND OTHER RESERVES (a) Share capital At September 30, 2024, the authorized share capital of the Company consisted of an unlimited number of common shares without par value and an unlimited number of preferred shares without par value. (b) Other reserves The Company’s other reserves consisted of the following: September 30, December 31, 2024 2023 Other reserve - Share options $ 3,148,493 $ 2,296,229 Other reserve - Warrants 63,228 59,702 $ 3,211,721 $ 2,355,931 (c) Share options The following table summarizes the changes in share options for the nine months ended September 30: 2024 2023 Weighted Weighted Number of average Number of average share options exercise price share options exercise price Outstanding, January 1, 3,463,333 $ 1.06 1,093,333 $ 1.67 Granted 225,000 1.00 — — Expired (66,667) 2.25 — — Outstanding, September 30, 3,621,666 $ 1.03 1,093,333 $ 1.67 9. SHARE CAPITAL AND OTHER RESERVES (Continued) The following table summarizes information about share options outstanding and exercisable at September 30, 2024: Share options outstanding Share options exercisable Number of Weighted Number of Weighted share options average years share options average Exercise prices outstanding to expiry exercisable exercise price $0.50 - $1.00 3,055,003 3.87 1,052,503 $ 0.83 $2.01 - $2.50 566,663 5.41 566,663 2.22 3,621,666 4.11 1,619,166 $ 1.32 Share-based compensation expense related to share options for the nine months ended September 30, 2024 was $852,264 (2023 – $179,379) of which $745,863 (2023 – $149,483) has been expensed in the unaudited condensed interim consolidated statement of loss and comprehensive loss and $106,401 (2023 – $29,896) has been capitalized to E&E assets. The following are the weighted average assumptions used to estimate the fair value of share options granted and/or vested for the nine months ended September 30, 2024 and 2023 using the Black-Scholes pricing model: For the nine months ended September 30, September 30, 2024 2023 Expected life 5.00 years N/A Expected volatility 125.67 % N/A Risk-free interest rate 3.49 % N/A Expected dividend yield Nil N/A Forfeiture rate Nil N/A Option pricing models require the input of subjective assumptions including the expected price volatility and expected share option life. Changes in these assumptions would have a significant impact on the fair value calculation. (d) Warrants The following table summarizes the changes in warrants for the nine months ended September 30: 2024 2023 Number of Warrant Number of Warrant warrants reserve warrants reserve Outstanding, January 1, 100,000 $ 59,702 362,833 $ 263,596 Transactions during the period: Value assigned to warrants vested - consultants — 3,526 — 30,279 Outstanding, September 30, 100,000 $ 63,228 362,833 $ 293,875 At September 30, 2024, the weighted average exercise price for the outstanding warrants is $0.81 (2023 – $3.41 ) and the weighted average remaining life is 1.09 years (2023 – 0.65 years).

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	9 Months Ended
RELATED PARTY TRANSACTIONS AND BALANCES	Sep. 30, 2024
RELATED PARTY TRANSACTIONS AND BALANCES
RELATED PARTY TRANSACTIONS AND BALANCES	10. RELATED PARTY TRANSACTIONS AND BALANCES Key management includes the Company’s directors and officers including its President, Vice President (“VP”) Exploration, VP Business Development and Chief Financial Officer (“CFO”). Directors and key management compensation is as follows: For the three months ended For the nine months ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Share-based compensation $ 201,270 $ 33,231 $ 824,555 $ 149,483 Management salaries and consulting fees 171,956 128,801 525,071 365,125 Directors’ fees 18,852 18,216 55,418 54,648 $ 392,078 $ 180,248 $ 1,405,044 $ 569,256 For the nine months ended September 30, 2024, the Company’s officers incurred $334,025 (2023 – $15,448) of expenditures in the normal course of business on behalf of the Company. For the nine months ended September 30, 2024, the Company incurred $50,762 (2023 – $53,024) with P2 Gold Inc., a related party of the Company, under a CFO shared-services agreement. These expenditures were expensed under management salaries and consulting fees in the unaudited condensed interim consolidated statement of loss and comprehensive loss. As at September 30, 2024, accounts payable and accrued liabilities include $52,532 (December 31, 2023 – $29,855) owed to related parties of the Company for transactions incurred in the normal course of business. The Company entered into a joint venture agreement with Pediment, a subsidiary of URZ ( formerly NGE formerly NGE formerly NGE formerly NGE formerly NGE

FINANCIAL RISK MANAGEMENT

FINANCIAL RISK MANAGEMENT	9 Months Ended
FINANCIAL RISK MANAGEMENT	Sep. 30, 2024
FINANCIAL RISK MANAGEMENT
FINANCIAL RISK MANAGEMENT	11. FINANCIAL RISK MANAGEMENT The Company has exposure to a variety of financial risks: market risk (including currency risk and interest rate risk), credit risk and liquidity risk from its use of financial instruments. (a) Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates and interest rates will affect the Company’s cash flows or value of its financial instruments. (i) Currency risk The Company is subject to currency risk on financial instruments that are denominated in currencies that are not the same as the functional currency of the entity that holds them. Exchange gains and losses would impact the consolidated statement of loss and comprehensive loss. The Company does not use any hedging instruments to reduce exposure to fluctuations in foreign currency rates. The Company is exposed to currency risk through cash and cash equivalents, receivables and other, marketable securities and accounts payable and accrued liabilities held in the parent entity which are denominated in CAD. 11. FINANCIAL RISK MANAGEMENT (Continued) The following table shows the impact on pre-tax loss of a 10% change in the USD:CAD exchange rate on financial assets and liabilities denominated in CAD, as of September 30, 2024, with all other variables held constant: Impact of currency rate change on pre-tax loss 10% increase 10% decrease Cash and cash equivalents $ 3,500 $ (3,500) Receivables and other 1,704 (1,704) Marketable securities 1,025 (1,025) Accounts payable and accrued liabilities (3,965) 3,965 (ii) Interest rate risk The Company is subject to interest rate risk with respect to its investments in cash and cash equivalents and short-term investments. The Company’s current policy is to invest cash at variable and fixed rates of interest with cash reserves to be maintained in cash and cash equivalents in order to maintain liquidity. Fluctuations in interest rates when cash and cash equivalents and short-term investments mature impact interest and finance income earned. The impact on pre-tax loss of a 1% change in variable interest rates on financial assets and liabilities as of September 30, 2024, with all other variables held constant, would be nominal. (b) Credit risk Credit risk is the risk of potential loss to the Company if the counterparty to a financial instrument fails to meet its contractual obligations. The Company’s credit risk is primarily attributable to its financial assets including cash and cash equivalents and short-term investments. The carrying amount of financial assets represents the maximum credit exposure: September 30, December 31, 2024 2023 Cash and cash equivalents $ 555,712 $ 907,551 Short-term investments 5,165,001 8,618,386 $ 5,720,713 $ 9,525,937 The Company mitigates its exposure to credit risk on financial assets through investing its cash and cash equivalents and short-term investments with Canadian Tier 1 chartered financial institutions. Management believes there is a nominal expected credit loss associated with its financial assets. (c) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company manages liquidity risk by monitoring actual and projected cash flows and matching the maturity profile of financial assets and liabilities. The Company has issued surety bonds to support future decommissioning and restoration provisions. Contractual undiscounted cash flow requirements for contractual obligations as at September 30, 2024 are as follows: Carrying Contractual Due within Due within Due within amount cash flows 1 year 2 years 3 years Accounts payable and accrued liabilities $ 111,196 $ 111,196 $ 111,196 $ — $ — $ 111,196 $ 111,196 $ 111,196 $ — $ — 11. FINANCIAL RISK MANAGEMENT (Continued) (d) Fair value estimation The Company’s financial assets and liabilities are initially measured and recognized according to a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority to unobservable inputs. The three levels of fair value hierarchy are as follows: Level 1: Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). Level 3: Inputs for the asset or liability that are not based on observable market data. The Company’s financial instruments consisting of cash and cash equivalents, short-term investments and accounts payable and accrued liabilities approximate their fair value due to the short-term maturity of these financial instruments. Marketable securities are fair valued at each reporting period using URZ’s ( formerly NGE’s The following tables present the Company’s financial assets and liabilities by level within the fair value hierarchy. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value. As at September 30, 2024 Carrying value Fair value Fair value through profit or loss Amortized (“FVTPL”) cost Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ — $ 555,712 $ — $ — $ — Short-term investments — 5,165,001 — — — Marketable securities 10,247 — 10,247 — — $ 10,247 $ 5,720,713 $ 10,247 $ — $ — As at December 31, 2023 Carrying value Fair value Amortized FVTPL cost Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ — $ 907,551 $ — $ — $ — Short-term investments — 8,618,386 — — — Marketable securities 7,422 — 7,422 — — $ 7,422 $ 9,525,937 $ 7,422 $ — $ —

COMMITMENTS

COMMITMENTS	9 Months Ended
COMMITMENTS	Sep. 30, 2024
COMMITMENTS
COMMITMENTS	12. COMMITMENTS The Company executed an introductory agent agreement with BMR (the “BMR Agreement”). Under the BMR Agreement, should a mineral property recommended by BMR be acquired by the Company, the Company shall pay an introductory agent fee as follows: Within 15 days of acquisition $ 5,000 6 months after acquisition $ 5,000 12 months after acquisition $ 5,000 18 months after acquisition $ 5,000 24 months after acquisition $ 7,500 30 months after acquisition $ 7,500 36 months after acquisition $ 10,000 42 months after acquisition $ 10,000 48 months after acquisition and every six months thereafter $ 15,000 If commercial production is achieved on a property recommended by BMR, the Company shall pay a 0.5% net smelter return royalty on all mineral interests acquired within the area of influence of the mineral property. Introductory agent fees and net smelter return royalty payments totaling $1,000,000 paid by the Company will reduce the net smelter return royalty by 50% to 0.25%. As at September 30, 2024, the BMR Agreement is not in effect for any of the Company’s mineral projects.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	9 Months Ended
SEGMENTED INFORMATION	Sep. 30, 2024
SEGMENT INFORMATION
SEGMENT INFORMATION	13. SEGMENTED INFORMATION Exploration and development of mineral projects is considered the Company’s single business segment. All of the Company’s E&E assets are located in the USA.

MATERIAL ACCOUNTING POLICY IN_2

MATERIAL ACCOUNTING POLICY INFORMATION (Policies)	9 Months Ended
MATERIAL ACCOUNTING POLICY INFORMATION (Policies)	Sep. 30, 2024
MATERIAL ACCOUNTING POLICY INFORMATION
Statement of compliance	(a) Statement of compliance These unaudited condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34, Interim Financial Reporting The Company’s material accounting policy information applied in these unaudited condensed interim consolidated financial statements are the same as those disclosed in Note 3 of the Company’s annual consolidated financial statements for the years ended December 31, 2023, 2022 and 2021. These unaudited condensed interim consolidated financial statements should be read in conjunction with the Company’s most recent audited annual consolidated financial statements. The functional currency of the Company and its subsidiary is the United States dollar (“USD” or “$”). The presentation currency of these unaudited condensed interim consolidated financial statements is USD. Any reference to Canadian dollars is denoted by “C$” or “CAD”. These unaudited condensed interim consolidated financial statements were authorized for issuance by the Board of Directors on November 6, 2024.
Significant accounting estimates and judgments	(b) Significant accounting estimates and judgments The preparation of financial statements requires the use of accounting estimates. It also requires management to exercise judgment in the process of applying its accounting policies. Estimates and policy judgments are regularly evaluated and are based on management’s experience and other factors, including expectations about future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Significant accounting policy judgments include: ● The assessment of the Company’s ability to continue as a going concern which requires judgment related to future funding available to identify new business opportunities and meet working capital requirements, the outcome of which is uncertain (refer to Note 1b); and ● The application of the Company’s accounting policy for impairment of E&E assets which requires judgment to determine whether indicators of impairment exist including factors such as the period for which the Company has the right to explore, expected renewals of exploration rights, whether substantive expenditures on further E&E of resource properties are budgeted and evaluation of the results of E&E activities up to the reporting date. Management assessed impairment indicators for the Company’s E&E assets and has concluded that no impairment indicators exist as of September 30, 2024.
New accounting standards and recent pronouncements	(c) New accounting standards and recent pronouncements The following standards, amendments and interpretations have been issued but are not yet effective: ● In April 2024, the IASB issued IFRS 18 – Presentation and Disclosure in Financial Statements which will replace IAS 1, Presentation of Financial Statements . The new standard on presentation and disclosure in financial statements focuses on updates to the statement of profit or loss. The key new concepts introduced in IFRS 18 relate to the structure of the statement of profit or loss, required disclosures in the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements and enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. Many of the other existing principles in IAS 1 are retained, with limited changes. IFRS 18 will apply for reporting periods beginning on or after January 1, 2027 and also applies to comparative information. The Company is in the process of assessing the impact of this standard. There are no other IFRS Accounting Standards or International Financial Reporting Interpretations Committee interpretations that are not yet effective or early adopted that are expected to have a significant impact on the Company.

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	9 Months Ended
SHORT-TERM INVESTMENTS (Tables)	Sep. 30, 2024
SHORT-TERM INVESTMENTS
Schedule of short-term investments	September 30, December 31, 2024 2023 Term deposits $ 4,409,046 $ 7,084,482 Redeemable short - term investment certificates (“RSTICs”) 755,955 1,533,904 $ 5,165,001 $ 8,618,386

RECEIVABLES AND OTHER (Tables)

RECEIVABLES AND OTHER (Tables)	9 Months Ended
RECEIVABLES AND OTHER (Tables)	Sep. 30, 2024
RECEIVABLES AND OTHER
Schedule of receivables and other	September 30, December 31, 2024 2023 Prepaid expenses and deposits $ 439,637 $ 156,234 Tax receivables 13,332 34,330 $ 452,969 $ 190,564

E&E ASSETS (Tables)

E&E ASSETS (Tables)	9 Months Ended
E&E ASSETS (Tables)	Sep. 30, 2024
E&E ASSETS
Schedule of property and nature of expenditure	Kelly Lone Stockade Fourmile Creek Mountain Mountain Miller Basin Total Balance - December 31, 2023 $ 636,708 $ 776,682 $ 867,100 $ — $ — $ 2,280,490 E&E expenditures: Acquisition costs 20,000 — 15,000 — — 35,000 Assays — 41,135 21,101 — — 62,236 Consulting 900 65,340 190,165 900 1,650 258,955 Drilling — — 543,613 — — 543,613 Field supplies and rentals — 1,070 81,008 — — 82,078 Field work — 60,050 60,613 — — 120,663 Geophysics — — 3,180 — — 3,180 Government payments 21,023 161,568 56,092 (3) 378 239,058 Share-based compensation 35,467 35,467 35,467 — — 106,401 Technical and assessment reports — 19,600 — — — 19,600 Travel — 3,821 10,327 — 838 14,986 Write-off of E&E assets — — — (897) (2,866) (3,763) Total E&E expenditures 77,390 388,051 1,016,566 — — 1,482,007 Balance - September 30, 2024 $ 714,098 $ 1,164,733 $ 1,883,666 $ — $ — $ 3,762,497
Kelly Creek
E&E ASSETS
Schedule of minimum payments	September 16, 2021 $ 30,000 Paid September 16, 2022 $ 30,000 Paid September 16, 2023 $ 30,000 Paid September 16, 2024 $ 20,000 Paid September 16, 2025 $ 20,000 September 16, 2026 $ 25,000 September 16, 2027 and every year thereafter $ 30,000
Lone Mountain
E&E ASSETS
Schedule of pre-production payments	Signing of the lease $ 80,000 Paid November 1, 2021 $ 30,000 Paid November 1, 2022 $ 20,000 Paid November 1, 2023 $ 20,000 Paid November 1, 2024 $ 30,000 Paid (1) November 1, 2025 and every year thereafter (2) $ 30,000 (1) Paid subsequent to September 30, 2024. (2) Pre-production payments increase by $10,000 every year after November 1, 2025 to a maximum of $200,000 .
Schedule of required minimum annual E&E expenditures on the project / property	September 1, 2024 $ 150,000 Completed September 1, 2025 $ 250,000 In progress September 1, 2026 $ 300,000 In progress September 1, 2027 $ 300,000 In progress September 1, 2028 $ 400,000 In progress September 1, 2029 (1) $ 400,000 In progress (1) The work commitment terminates when $1,800,000 has been spent on the property.
Stockade Mountain
E&E ASSETS
Schedule of pre-production payments	May 16, 2022 $ 15,000 Paid November 16, 2022 $ 10,000 Paid May 16, 2023 $ 10,000 Paid November 16, 2023 $ 15,000 Paid May 16, 2024 $ 15,000 Paid November 16, 2024 and every six months thereafter $ 25,000

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
PROPERTY AND EQUIPMENT (Tables)	Sep. 30, 2024
PROPERTY AND EQUIPMENT
Schedule of property and equipment	Property and equipment Net book value - December 31, 2023 $ 827 Additions 11,000 Depreciation (1,470) Net book value - September 30, 2024 $ 10,357

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	9 Months Ended
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	Sep. 30, 2024
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Schedule of accounts payable and accrued liabilities	September 30, December 31, 2024 2023 Trade payables $ 97,862 $ 638,671 Accrued liabilities 13,334 37,934 $ 111,196 $ 676,605

SHARE CAPITAL AND OTHER RESER_2

SHARE CAPITAL AND OTHER RESERVES (Tables)	9 Months Ended
SHARE CAPITAL AND OTHER RESERVES (Tables)	Sep. 30, 2024
SHARE CAPITAL AND OTHER RESERVES
Schedule of components of other reserves	September 30, December 31, 2024 2023 Other reserve - Share options $ 3,148,493 $ 2,296,229 Other reserve - Warrants 63,228 59,702 $ 3,211,721 $ 2,355,931
Schedule of changes in share options	2024 2023 Weighted Weighted Number of average Number of average share options exercise price share options exercise price Outstanding, January 1, 3,463,333 $ 1.06 1,093,333 $ 1.67 Granted 225,000 1.00 — — Expired (66,667) 2.25 — — Outstanding, September 30, 3,621,666 $ 1.03 1,093,333 $ 1.67
Schedule of information about share options outstanding and exercisable	Share options outstanding Share options exercisable Number of Weighted Number of Weighted share options average years share options average Exercise prices outstanding to expiry exercisable exercise price $0.50 - $1.00 3,055,003 3.87 1,052,503 $ 0.83 $2.01 - $2.50 566,663 5.41 566,663 2.22 3,621,666 4.11 1,619,166 $ 1.32
Schedule of weighted average assumptions used to estimate the fair value of share options granted and/or vested	For the nine months ended September 30, September 30, 2024 2023 Expected life 5.00 years N/A Expected volatility 125.67 % N/A Risk-free interest rate 3.49 % N/A Expected dividend yield Nil N/A Forfeiture rate Nil N/A
Schedule of changes in warrants	2024 2023 Number of Warrant Number of Warrant warrants reserve warrants reserve Outstanding, January 1, 100,000 $ 59,702 362,833 $ 263,596 Transactions during the period: Value assigned to warrants vested - consultants — 3,526 — 30,279 Outstanding, September 30, 100,000 $ 63,228 362,833 $ 293,875

RELATED PARTY TRANSACTIONS AN_2

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	9 Months Ended
RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	Sep. 30, 2024
RELATED PARTY TRANSACTIONS AND BALANCES
Schedule of directors and key management compensation	For the three months ended For the nine months ended September 30, September 30, September 30, September 30, 2024 2023 2024 2023 Share-based compensation $ 201,270 $ 33,231 $ 824,555 $ 149,483 Management salaries and consulting fees 171,956 128,801 525,071 365,125 Directors’ fees 18,852 18,216 55,418 54,648 $ 392,078 $ 180,248 $ 1,405,044 $ 569,256

FINANCIAL RISK MANAGEMENT (Tabl

FINANCIAL RISK MANAGEMENT (Tables)	9 Months Ended
FINANCIAL RISK MANAGEMENT (Tables)	Sep. 30, 2024
FINANCIAL RISK MANAGEMENT
Schedule of impact on pre-tax loss of a 10% change in the USD:CAD exchange rate on financial assets and liabilities denominated in CAD	The following table shows the impact on pre-tax loss of a 10% change in the USD:CAD exchange rate on financial assets and liabilities denominated in CAD, as of September 30, 2024, with all other variables held constant: Impact of currency rate change on pre-tax loss 10% increase 10% decrease Cash and cash equivalents $ 3,500 $ (3,500) Receivables and other 1,704 (1,704) Marketable securities 1,025 (1,025) Accounts payable and accrued liabilities (3,965) 3,965
Schedule of carrying amount of financial assets represents the maximum credit exposure	September 30, December 31, 2024 2023 Cash and cash equivalents $ 555,712 $ 907,551 Short-term investments 5,165,001 8,618,386 $ 5,720,713 $ 9,525,937
Schedule of contractual undiscounted cash flow requirements for contractual obligations	Contractual undiscounted cash flow requirements for contractual obligations as at September 30, 2024 are as follows: Carrying Contractual Due within Due within Due within amount cash flows 1 year 2 years 3 years Accounts payable and accrued liabilities $ 111,196 $ 111,196 $ 111,196 $ — $ — $ 111,196 $ 111,196 $ 111,196 $ — $ —
Schedule of financial assets and liabilities by level within the fair value hierarchy	As at September 30, 2024 Carrying value Fair value Fair value through profit or loss Amortized (“FVTPL”) cost Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ — $ 555,712 $ — $ — $ — Short-term investments — 5,165,001 — — — Marketable securities 10,247 — 10,247 — — $ 10,247 $ 5,720,713 $ 10,247 $ — $ — As at December 31, 2023 Carrying value Fair value Amortized FVTPL cost Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ — $ 907,551 $ — $ — $ — Short-term investments — 8,618,386 — — — Marketable securities 7,422 — 7,422 — — $ 7,422 $ 9,525,937 $ 7,422 $ — $ —

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
COMMITMENTS (Tables)	Sep. 30, 2024
COMMITMENTS
Schedule of gross contractual obligations	Within 15 days of acquisition $ 5,000 6 months after acquisition $ 5,000 12 months after acquisition $ 5,000 18 months after acquisition $ 5,000 24 months after acquisition $ 7,500 30 months after acquisition $ 7,500 36 months after acquisition $ 10,000 42 months after acquisition $ 10,000 48 months after acquisition and every six months thereafter $ 15,000

NATURE OF OPERATIONS AND GOIN_2

NATURE OF OPERATIONS AND GOING CONCERN (Details) - USD ($)	3 Months Ended		9 Months Ended
NATURE OF OPERATIONS AND GOING CONCERN (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
NATURE OF OPERATIONS AND GOING CONCERN
Net loss for the period	$ (948,043)	$ (292,112)	$ (2,338,838)	$ (2,297,717)
Cash used in operating activities	1,040,590	322,639	2,187,708	1,259,503
Cash and cash equivalents	555,712	$ 3,164,187	555,712	$ 3,164,187	$ 1,207,937	$ 907,551	$ 1,644,336	$ 630,623
Working capital (current assets less current liabilities) surplus	6,062,486		6,062,486			9,039,896
Accumulated deficit	$ 9,359,360		$ 9,359,360			$ 7,020,522

CASH AND CASH EQUIVALENTS (Deta

CASH AND CASH EQUIVALENTS (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CASH AND CASH EQUIVALENTS
Cash	$ 555,712	$ 907,551

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
SHORT-TERM INVESTMENTS
Term deposits	$ 4,409,046	$ 7,084,482
Redeemable short - term investment certificates ("RSTICs")	755,955	1,533,904
Total	$ 5,165,001	$ 8,618,386

RECEIVABLES AND OTHER (Details)

RECEIVABLES AND OTHER (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
RECEIVABLES AND OTHER
Prepaid expenses and deposits	$ 439,637	$ 156,234
Tax receivables	13,332	34,330
Total	$ 452,969	$ 190,564

E&E ASSETS (Details)

E&E ASSETS (Details)	9 Months Ended
E&E ASSETS (Details)	Sep. 30, 2024 USD ($)
E&E ASSETS
Balance at beginning	$ 2,280,490
E&E expenditures:
Acquisition costs	35,000
Assays	62,236
Consulting	258,955
Drilling	543,613
Field supplies and rentals	82,078
Field work	120,663
Geophysics	3,180
Government payments	239,058
Share-based compensation	106,401
Technical and assessment reports	19,600
Travel	14,986
Write-off of E&E assets	(3,763)
Total E&E expenditures	1,482,007
Balance at ending	3,762,497
Kelly Creek
E&E ASSETS
Balance at beginning	636,708
E&E expenditures:
Acquisition costs	20,000
Assays	0
Consulting	900
Drilling	0
Field supplies and rentals	0
Field work	0
Geophysics	0
Government payments	21,023
Share-based compensation	35,467
Technical and assessment reports	0
Travel	0
Write-off of E&E assets	0
Total E&E expenditures	77,390
Balance at ending	714,098
Lone Mountain
E&E ASSETS
Balance at beginning	776,682
E&E expenditures:
Acquisition costs	0
Assays	41,135
Consulting	65,340
Drilling	0
Field supplies and rentals	1,070
Field work	60,050
Geophysics	0
Government payments	161,568
Share-based compensation	35,467
Technical and assessment reports	19,600
Travel	3,821
Write-off of E&E assets	0
Total E&E expenditures	388,051
Balance at ending	1,164,733
Stockade Mountain
E&E ASSETS
Balance at beginning	867,100
E&E expenditures:
Acquisition costs	15,000
Assays	21,101
Consulting	190,165
Drilling	543,613
Field supplies and rentals	81,008
Field work	60,613
Geophysics	3,180
Government payments	56,092
Share-based compensation	35,467
Technical and assessment reports	0
Travel	10,327
Write-off of E&E assets	0
Total E&E expenditures	1,016,566
Balance at ending	1,883,666
Miller
E&E ASSETS
Balance at beginning	0
E&E expenditures:
Acquisition costs	0
Assays	0
Consulting	900
Drilling	0
Field supplies and rentals	0
Field work	0
Geophysics	0
Government payments	(3)
Share-based compensation	0
Technical and assessment reports	0
Travel	0
Write-off of E&E assets	(897)
Total E&E expenditures	0
Balance at ending	0
Fourmile Basin
E&E ASSETS
Balance at beginning	0
E&E expenditures:
Acquisition costs	0
Assays	0
Consulting	1,650
Drilling	0
Field supplies and rentals	0
Field work	0
Geophysics	0
Government payments	378
Share-based compensation	0
Technical and assessment reports	0
Travel	838
Write-off of E&E assets	(2,866)
Total E&E expenditures	0
Balance at ending	$ 0

E&E ASSETS - Kelly Creek Projec

E&E ASSETS - Kelly Creek Project (Details)						9 Months Ended
E&E ASSETS - Kelly Creek Project (Details)	Sep. 16, 2024 USD ($)	Jun. 03, 2024 USD ($)	Sep. 16, 2023 USD ($)	Sep. 16, 2022 USD ($)	Sep. 16, 2021 USD ($)	Sep. 30, 2024 USD ($)	Jun. 03, 2024 CAD ($) mi²	Jun. 03, 2024 USD ($) mi²
E&E ASSETS
Percentage of interest in a joint venture						70%
Percentage of interest in a joint venture, that can be earned upon incurring the required minimum annual E&E expenditures on the project		51%
Kelly Creek
E&E ASSETS
Percentage of interest in a joint venture		70%
Additional annual expenditures to be incurred							$ 2,500,000
Expenditures on Kelly Creek Project		$ 923,757
Proportion Of Additional Ownership Interest In Joint Venture		19%
Kelly Creek \| Hot Pot agreement
E&E ASSETS
Annual lease payments made	$ 20,000		$ 30,000	$ 30,000	$ 30,000
Advance royalty payments due, year one						$ 20,000
Advance royalty payments due, year two						25,000
Advance royalty payments due, year three and thereafter						$ 30,000
Percentage of net smelter return royalty		3%
Percentage of net smelter return royalty upon payment of specified amount		2%
Payment to reduce net smelter return royalty								$ 2,000,000
Kelly Creek \| Hot Pot agreement \| Battle Mountain Gold Exploration Corporation
E&E ASSETS
Percentage of net smelter return royalty		1.25%
Area within the original boundary of the Hot Pot property, considered for royalty payments \| mi²							2.5	2.5

E&E ASSETS - Lone Mountain Proj

E&E ASSETS - Lone Mountain Project (Details) - Lone Mountain	9 Months Ended
	Sep. 30, 2024 USD ($) oz
E&E ASSETS
Pre-production payments made in cash	$ 80,000
Pre-production payments made, November 1, 2021	30,000
Pre-production payments made, November 1, 2022	20,000
Pre-production payments made, November 1, 2023	20,000
Pre-production payments to be made, November 1, 2024	30,000
Pre-production payments to be made, November 1, 2025 and every year thereafter	30,000
Incremental pre-production payments to be made, each year thereafter	10,000
Maximum pre-production payments to be made, November 1, 2025 and each year thereafter	200,000
Required minimum annual E&E expenditures, period one	150,000
Required minimum annual E&E expenditures, period two	250,000
Required minimum annual E&E expenditures, period three	300,000
Required minimum annual E&E expenditures, period four	300,000
Required minimum annual E&E expenditures, period five	400,000
Required minimum annual E&E expenditures, period six	400,000
Threshold amount of expenditure considered for termination of work commitment	$ 1,800,000
Percentage of net smelter return royalty	3%
Reduction in net smelter return royalty upon payment of specified amount	0.50%
Percentage of net smelter return royalty upon payment of specified amount	2.50%
Threshold minimum gold to be discovered to trigger the option to purchase the entire interest in project (in ounces) \| oz	500,000
Payment to reduce net smelter return royalty	$ 2,000,000

E&E ASSETS - Stockade Mountain

E&E ASSETS - Stockade Mountain Project (Details)						9 Months Ended
E&E ASSETS - Stockade Mountain Project (Details)	May 16, 2024 USD ($)	Nov. 16, 2023 USD ($)	May 16, 2023 USD ($)	Nov. 16, 2022 USD ($)	May 16, 2022 USD ($)	Sep. 30, 2024 USD ($) m²
E&E ASSETS
Percentage of interest in a joint venture						70%
Stockade Mountain
E&E ASSETS
Percentage of interest in a joint venture						100%
Pre-production payments made in cash	$ 15,000	$ 15,000	$ 10,000	$ 10,000	$ 15,000
Pre-production payments to be made, November 16, 2024 and every six months thereafter						$ 25,000
Required minimum annual E&E expenditures, September 1, 2022						$ 30,000
Required minimum area to be drilled, May 16, 2024 (in meters) \| m²						2,000
Percentage of net smelter return royalty						2%
Percentage of net smelter return royalty for third-pay claims upon payment of specified amount						0.25%
Payment to reduce net smelter return royalty						$ 10,000,000
Reduction in net smelter return royalty upon payment of specified amount						50%
Percentage of net smelter return royalty upon payment of specified amount						1%

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details)	9 Months Ended
PROPERTY AND EQUIPMENT (Details)	Sep. 30, 2024 USD ($)
PROPERTY AND EQUIPMENT
Net book value - December 31, 2023	$ 827
Additions	11,000
Depreciation	(1,470)
Net book value - September 30, 2024	$ 10,357

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Trade payables	$ 97,862	$ 638,671
Accrued liabilities	13,334	37,934
Total	$ 111,196	$ 676,605

SHARE CAPITAL AND OTHER RESER_3

SHARE CAPITAL AND OTHER RESERVES - Other reserves (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
SHARE CAPITAL AND OTHER RESERVES
Other reserve - Share options	$ 3,148,493	$ 2,296,229
Other reserve - Warrants	63,228	59,702	$ 293,875	$ 263,596
Other reserves	$ 3,211,721	$ 2,355,931

SHARE CAPITAL AND OTHER RESER_4

SHARE CAPITAL AND OTHER RESERVES - Changes in share options (Details)	9 Months Ended
	Sep. 30, 2024 shares $ / shares	Sep. 30, 2023 shares $ / shares
Number of share options
Outstanding, beginning balance \| shares	3,463,333	1,093,333
Granted \| shares	225,000	0
Expired \| shares	(66,667)	0
Outstanding, ending balance \| shares	3,621,666	1,093,333
Weighted average exercise price
Outstanding, beginning balance \| $ / shares	$ 1.06	$ 1.67
Granted \| $ / shares	1	0
Expired \| $ / shares	2.25	0
Outstanding, ending balance \| $ / shares	$ 1.03	$ 1.67

SHARE CAPITAL AND OTHER RESER_5

SHARE CAPITAL AND OTHER RESERVES - Information about share options outstanding and exercisable (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($) shares $ / shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2024 USD ($) shares $ / shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2023 shares	Dec. 31, 2022 shares
Information about share options outstanding and exercisable
Share options outstanding, Number of share options outstanding \| shares	3,621,666	1,093,333	3,621,666	1,093,333	3,463,333	1,093,333
Share options outstanding, Weighted average years to expiry			4 years 1 month 9 days
Share options exercisable, Number of share options exercisable \| shares	1,619,166		1,619,166
Share options exercisable, Weighted average exercise price	$ 1.32		$ 1.32
Total share-based compensation expense \| $			$ 852,264	$ 179,379
Total share-based compensation expense, expensed in the statement of loss \| $	$ 184,026	$ 39,875	749,389	179,762
Total share-based compensation expense, capitalized to E&E assets \| $			106,401	29,896
Share options
Information about share options outstanding and exercisable
Total share-based compensation expense, expensed in the statement of loss \| $			$ 745,863	$ 149,483
Exercise price range $0.50 - $1.00
Information about share options outstanding and exercisable
Share options outstanding, Number of share options outstanding \| shares	3,055,003		3,055,003
Share options outstanding, Weighted average years to expiry			3 years 10 months 13 days
Share options exercisable, Number of share options exercisable \| shares	1,052,503		1,052,503
Share options exercisable, Weighted average exercise price	$ 0.83		$ 0.83
Exercise price range $0.50 - $1.00 \| Minimum
Information about share options outstanding and exercisable
Share options outstanding, Exercise prices	0.50		0.50
Exercise price range $0.50 - $1.00 \| Maximum
Information about share options outstanding and exercisable
Share options outstanding, Exercise prices	$ 1		$ 1
Exercise price range $2.01 - $2.50
Information about share options outstanding and exercisable
Share options outstanding, Number of share options outstanding \| shares	566,663		566,663
Share options outstanding, Weighted average years to expiry			5 years 4 months 28 days
Share options exercisable, Number of share options exercisable \| shares	566,663		566,663
Share options exercisable, Weighted average exercise price	$ 2.22		$ 2.22
Exercise price range $2.01 - $2.50 \| Minimum
Information about share options outstanding and exercisable
Share options outstanding, Exercise prices	2.01		2.01
Exercise price range $2.01 - $2.50 \| Maximum
Information about share options outstanding and exercisable
Share options outstanding, Exercise prices	$ 2.50		$ 2.50

SHARE CAPITAL AND OTHER RESER_6

SHARE CAPITAL AND OTHER RESERVES - Weighted average assumptions used to estimate the fair value of share options granted (Details)	9 Months Ended
	Sep. 30, 2024 Y
SHARE CAPITAL AND OTHER RESERVES
Expected life	5
Expected volatility	125.67%
Risk-free interest rate	3.49%
Expected dividend yield
Forfeiture rate

SHARE CAPITAL AND OTHER RESER_7

SHARE CAPITAL AND OTHER RESERVES - Warrants (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
SHARE CAPITAL AND OTHER RESERVES
Number of warrants, Outstanding, Beginning balance	100,000	362,833
Warrant reserve, Beginning balance	$ 59,702	$ 263,596
Number of warrants, Value assigned to warrants vested - consultants	0	0
Warrant reserve, Value assigned to warrants vested - consultants	$ 3,526	$ 30,279
Number of warrants, Outstanding, Ending balance	100,000	362,833
Warrant reserve, Ending balance	$ 63,228	$ 293,875
Weighted average exercise price of outstanding warrants	$ 0.81	$ 3.41
Weighted average remaining life of outstanding warrants	1 year 1 month 2 days	7 months 24 days

RELATED PARTY TRANSACTIONS AN_3

RELATED PARTY TRANSACTIONS AND BALANCES - Compensation (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
RELATED PARTY TRANSACTIONS AND BALANCES
Share-based compensation	$ 201,270	$ 33,231	$ 824,555	$ 149,483
Management salaries and consulting fees	171,956	128,801	525,071	365,125
Directors' fees	18,852	18,216	55,418	54,648
Total compensation	$ 392,078	$ 180,248	$ 1,405,044	$ 569,256

RELATED PARTY TRANSACTIONS AN_4

RELATED PARTY TRANSACTIONS AND BALANCES - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
RELATED PARTY TRANSACTIONS AND BALANCES
Expenditures incurred on behalf of the company	$ 334,025	$ 15,448
Amounts payable and accrued liabilities to related parties	$ 52,532	29,855
Number of shares held	89,240
Purchase of exploration equipment	$ 11,000
P2 Gold Inc
RELATED PARTY TRANSACTIONS AND BALANCES
Amount of services under CFO shared-services agreement	50,762	$ 53,024
URZ3 Energy Corp.
RELATED PARTY TRANSACTIONS AND BALANCES
Purchase of exploration equipment	$ 11,000

FINANCIAL RISK MANAGEMENT - Mar

FINANCIAL RISK MANAGEMENT - Market risk (Details)	9 Months Ended
FINANCIAL RISK MANAGEMENT - Market risk (Details)	Sep. 30, 2024 USD ($)
Currency risk
FINANCIAL RISK MANAGEMENT
Impact on pre-tax loss in exchange rate on financial assets and liabilities	10%
Percentage of increase on impact of currency rate change on pre-tax loss 10%	10%
Percentage of decrease on impact of currency rate change on pre-tax loss 10%	10%
Currency risk \| Cash and cash equivalents
FINANCIAL RISK MANAGEMENT
Impact of currency rate change on pre-tax loss 10% increase	$ 3,500
Impact of currency rate change on pre-tax loss 10% decrease	(3,500)
Currency risk \| Receivables and other
FINANCIAL RISK MANAGEMENT
Impact of currency rate change on pre-tax loss 10% increase	1,704
Impact of currency rate change on pre-tax loss 10% decrease	(1,704)
Currency risk \| Marketable securities
FINANCIAL RISK MANAGEMENT
Impact of currency rate change on pre-tax loss 10% increase	1,025
Impact of currency rate change on pre-tax loss 10% decrease	(1,025)
Currency risk \| Accounts payable and accrued liabilities
FINANCIAL RISK MANAGEMENT
Impact of currency rate change on pre-tax loss 10% increase	(3,965)
Impact of currency rate change on pre-tax loss 10% decrease	$ 3,965
Interest rate risk
FINANCIAL RISK MANAGEMENT
Impact on pre-tax loss in exchange rate on financial assets and liabilities	1%

FINANCIAL RISK MANAGEMENT - Cre

FINANCIAL RISK MANAGEMENT - Credit risk (Details) - Credit risk - USD ($)	Sep. 30, 2024	Dec. 31, 2023
FINANCIAL RISK MANAGEMENT
Maximum credit exposure	$ 5,720,713	$ 9,525,937
Cash and cash equivalents
FINANCIAL RISK MANAGEMENT
Maximum credit exposure	555,712	907,551
Short-term investments
FINANCIAL RISK MANAGEMENT
Maximum credit exposure	$ 5,165,001	$ 8,618,386

FINANCIAL RISK MANAGEMENT - Liq

FINANCIAL RISK MANAGEMENT - Liquidity risk (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
FINANCIAL RISK MANAGEMENT
Accounts payable and accrued liabilities, carrying amount	$ 111,196	$ 676,605
Total, Carrying amount
FINANCIAL RISK MANAGEMENT
Accounts payable and accrued liabilities, carrying amount	111,196
Total, contractual cash flows	111,196
Liquidity Risk
FINANCIAL RISK MANAGEMENT
Accounts payable and accrued liabilities, contractual cash flows	111,196
Total, contractual cash flows	111,196
Liquidity Risk \| Due within 1 year
FINANCIAL RISK MANAGEMENT
Accounts payable and accrued liabilities, contractual cash flows	111,196
Total, contractual cash flows	111,196
Liquidity Risk \| Due within 2 year
FINANCIAL RISK MANAGEMENT
Accounts payable and accrued liabilities, contractual cash flows	0
Total, contractual cash flows	0
Liquidity Risk \| Due within 3 year
FINANCIAL RISK MANAGEMENT
Accounts payable and accrued liabilities, contractual cash flows	0
Total, contractual cash flows	$ 0

FINANCIAL RISK MANAGEMENT - Fai

FINANCIAL RISK MANAGEMENT - Fair value estimation (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Level 1
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	$ 10,247	$ 7,422
Level 2
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Level 3
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, fair value	0	0
FVTPL
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	10,247	7,422
Amortized cost
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	5,720,713	9,525,937
Cash and cash equivalents \| Level 1
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Cash and cash equivalents \| Level 2
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Cash and cash equivalents \| Level 3
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, fair value	0	0
Cash and cash equivalents \| FVTPL
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Cash and cash equivalents \| Amortized cost
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	555,712	907,551
Short-term investments \| Level 1
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Short-term investments \| Level 2
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Short-term investments \| Level 3
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, fair value	0	0
Short-term investments \| FVTPL
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Short-term investments \| Amortized cost
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	5,165,001	8,618,386
Marketable securities \| Level 1
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	10,247	7,422
Marketable securities \| Level 2
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	0	0
Marketable securities \| Level 3
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, fair value	0	0
Marketable securities \| FVTPL
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	10,247	7,422
Marketable securities \| Amortized cost
Disclosure About Nature And Extent Of Risks Arising From Financial Instruments [Line Items]
Financial assets, carrying value	$ 0	$ 0

COMMITMENTS (Details)

COMMITMENTS (Details)	Sep. 30, 2024 USD ($)
Within 15 days of acquisition
Commitments
Introductory agent fee commitment	$ 5,000
6 months after acquisition
Commitments
Introductory agent fee commitment	5,000
12 months after acquisition
Commitments
Introductory agent fee commitment	5,000
18 months after acquisition
Commitments
Introductory agent fee commitment	5,000
24 months after acquisition
Commitments
Introductory agent fee commitment	7,500
30 months after acquisition
Commitments
Introductory agent fee commitment	7,500
36 months after acquisition
Commitments
Introductory agent fee commitment	10,000
42 months after acquisition
Commitments
Introductory agent fee commitment	10,000
48 months after acquisition and every six months thereafter
Commitments
Introductory agent fee commitment	$ 15,000

COMMITMENTS - Additional Inform

COMMITMENTS - Additional Information (Details)	9 Months Ended
COMMITMENTS - Additional Information (Details)	Sep. 30, 2024 USD ($)
COMMITMENTS
Net smelter return royalty	0.50%
Introductory agent fees and net smelter return royalty payments to reduce net smelter return royalty	$ 1,000,000
Decrease in net smelter return royalty	50%
Net smelter return royalty after reduction	0.25%