Premium Resources (PRMLF) 6-K 31 May 22 Current report (foreign) Financial data

Cover

Cover	3 Months Ended
	Mar. 31, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-14740
Entity Registrant Name	North American Nickel Inc
Entity Central Index Key	0000795800
Entity Address, Address Line One	c/o Bennett Jones LLP
Entity Address, Address Line Two	3400 — One First Canadian Place
Entity Address, Address Line Three	P.O. Box 130
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5X 1A4

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Unaudited) - CAD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 690	$ 1,973
Receivables and other current assets	282	75
Due from related party	1,623	199
TOTAL CURRENT ASSETS	2,595	2,247
NON-CURRENT ASSETS
Equipment	15	16
Exploration and evaluation assets	39,174	39,099
Investment	186	321
TOTAL NON-CURRENT ASSETS	39,375	39,436
TOTAL ASSETS	41,970	41,683
LIABILITIES
Trade payables and accrued liabilities	777	480
TOTAL LIABILITIES	777	480
EQUITY
Share capital - preferred	591	591
Share capital – common	93,970	93,451
Reserve	4,051	4,252
Deficit	(57,419)	(57,091)
TOTAL EQUITY	41,193	41,203
TOTAL LIABILITIES AND EQUITY	$ 41,970	$ 41,683

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
EXPENSES
General and administrative expenses	$ (241)	$ (262)
Property investigation	(12)	(1)
Amortization	(1)	(8)
Share-based payments		(837)
Total expenses	(254)	(1,108)
OTHER ITEMS
Foreign exchange loss	(1)
Equity loss on investment	(135)	(17)
Other income (expense), net	(136)	(17)
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ (390)	$ (1,125)
Basic and diluted weighted average number of common shares outstanding	133,245,177	113,245,018
Basic and diluted loss per share	$ 0	$ (0.01)

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Changes in Equity (Unaudited) - CAD ($) $ in Thousands	Ordinary shares [member]	Preference shares [member]	Reserve [Member]	Retained earnings [member]	Total
Beginning balance, value at Dec. 31, 2020	$ 89,627	$ 591	$ 2,096	$ (53,299)	$ 39,015
Beginning balance, shares at Dec. 31, 2020	109,833,648
IfrsStatementLineItems [Line Items]
Net and comprehensive loss				(1,125)	(1,125)
Share capital issued through exercise of warrants	$ 665				665
Share capital issued through exercise of warrants, shares	6,278,219
Share issue costs	$ (1)				(1)
Exercised warrants	243		(243)
Share-based payments			837		837
Expired warrants
Forfeited/expired options			(98)	98
Ending balance, value at Mar. 31, 2021	$ 90,534	591	2,592	(54,326)	39,391
Ending balance, shares at Mar. 31, 2021	116,111,867
Beginning balance, value at Dec. 31, 2020	$ 89,627	591	2,096	(53,299)	$ 39,015
Beginning balance, shares at Dec. 31, 2020	109,833,648
IfrsStatementLineItems [Line Items]
Share capital issued through exercise of warrants, shares					13,080,314
Ending balance, value at Dec. 31, 2021	$ 93,451	591	4,252	(57,091)	$ 41,203
Ending balance, shares at Dec. 31, 2021	131,204,627
IfrsStatementLineItems [Line Items]
Net and comprehensive loss				(390)	(390)
Share capital issued through exercise of warrants	$ 380				380
Share capital issued through exercise of warrants, shares	2,665,404
Share issue costs
Exercised warrants	139		(139)
Share-based payments
Expired warrants
Forfeited/expired options			(62)	62
Value allocated to warrants
Ending balance, value at Mar. 31, 2022	$ 93,970	$ 591	$ 4,051	$ (57,419)	$ 41,193
Ending balance, shares at Mar. 31, 2022	133,870,031

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
OPERATING ACTIVITIES
Loss for the period	$ (390)	$ (1,125)
Items not affecting cash:
Amortization	1	8
Share-based payments		837
Equity loss on investment	135	17
Changes in working capital	(91)	117
Net cash used in operating activities	(345)	(146)
INVESTING ACTIVITIES
Expenditures on exploration and evaluation assets	(48)	(59)
Investment		(51)
Loan to PNR	(1,270)
Net cash provided by (used in) investing activities	(1,318)	(110)
FINANCING ACTIVITIES
Share issuance costs		(1)
Proceeds from exercise of warrants and options	380	665
Net cash provided by financing activities	380	664
Change in cash for the period	(1,283)	408
Cash, beginning of the period	1,973	308
Cash, end of the period	$ 690	$ 716

NATURE AND CONTINUANCE OF OPERA

NATURE AND CONTINUANCE OF OPERATIONS	3 Months Ended
	Mar. 31, 2022
Nature And Continuance Of Operations
NATURE AND CONTINUANCE OF OPERATIONS	1. NATURE AND CONTINUANCE OF OPERATIONS North American Nickel Inc. (the “Company”) was incorporated on September 23, 1983, under the laws of the Province of British Columbia, Canada. The primary mailing office is located at 3400 – 100 King Street West, PO Box 130, Toronto, Ontario, M5X 1A4 and the records office of the Company is located at 666 Burrard Street, Suite 2500, Vancouver BC V6C 2X8. The Company’s common shares trade on the TSX Venture Exchange (“TSXV”) under the symbol “NAN”. The Company’s principal business activity is the exploration and development of mineral properties in Greenland and Canada, as well as in Botswana through its participation in Premium Nickel Resources (“Premium Nickel”). The Company has not yet determined whether any of these properties contain ore reserves that are economically recoverable. The recoverability of carrying amounts shown for exploration and evaluation assets is dependent upon a number of factors including environmental risk, legal and political risk, the existence of economically recoverable mineral reserves, confirmation of the Company’s interests in the underlying mineral claims, the ability of the Company to obtain necessary financing to complete exploration and development, and to attain sufficient net cash flow from future profitable production or disposition proceeds. These condensed Interim consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. The ability of the Company to continue operations as a going concern is ultimately dependent upon achieving profitable operations and its ability to raise additional capital. To date, the Company has not generated profitable operations from its resource activities and will need to invest additional funds in carrying out its planned exploration, development and operational activities. These uncertainties cast substantial doubt about the Company’s ability to continue as a going concern. These 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 as a going concern. Such adjustments could be material. The exploration and evaluation properties in which the Company currently has an interest 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 cover administrative costs, the Company will use its existing working capital and raise additional amounts as needed. Although the Company has been successful in its past fundraising activities, there is no assurance as to the success of future fundraising efforts or as to the sufficiency of funds raised in the future. The Company will continue to assess new properties and seek to acquire interests in additional properties if there is sufficient geologic or economic potential and if adequate financial resources are available to do so. The coronavirus COVID-19 declared as a global pandemic in March 2020 continued throughout the 2020 year and to date. This contagious disease outbreak, which continues to spread, and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, potentially leading to an economic downturn. The Company is closely monitoring the impact of the pandemic on all aspects of its business and COVID-19 has delayed the Company’s ability to conduct major fieldwork on projects. The condensed Interim consolidated financial statements were approved and authorized for issuance by the Board of Directors of the Company on May 30, 2022. The related notes to the consolidated financial statements are presented in Canadian dollars except amounts in the tables are expressed in thousands of Canadian dollars.

BASIS OF PREPARATION AND SIGNIF

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (a) Statement of Compliance These condensed interim consolidated financial statements were prepared in accordance with International Financial Reporting Standards (“IFRS”), including IAS 34 Interim Financial Statements. The condensed interim consolidated financial statements do not include all of the information and disclosures required in the annual financial statements, and should be read in conjunction with the Company’s audited annual financial statements for the year ended December 31, 2021. Any subsequent changes to IFRS that are reflected in the Company’s consolidated financial statements for the year ended December 31, 2022 could result in restatement of these condensed interim consolidated financial statements. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) (b) Basis of Preparation These condensed interim consolidated financial statements have been prepared under the historical cost convention, modified by the revaluation of any financial assets and financial liabilities where applicable. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgment in the process of applying the Company’s accounting policies. The significant accounting policies used in the preparation of these condensed interim consolidated financial statements are consistent with those used in the preparation of the annual consolidated financial statements for the year ended December 31, 2021. (c) Basis of consolidation These condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary, North American Nickel (US) Inc. which was incorporated in the State of Delaware on May 22, 2015. Consolidation is required when the Company is exposed, or has rights to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. The Company’s consolidated financial statements were prepared in accordance with International Financial Reporting Standards (“IFRS”).

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
CHANGES IN ACCOUNTING POLICIES	3. CHANGES IN ACCOUNTING POLICIES IAS 16 - “Property, Plant and Equipment” The IASB issued an amendment to IAS 16, Property, Plant and Equipment to prohibit the deducting from property, plant and equipment amounts received from selling items produced while preparing an asset for its intended use. Instead, sales proceeds and its related costs must be recognized in profit or loss. The amendment will require companies to distinguish between costs associated with producing and selling items before the item of property, plant and equipment is available for use and costs associated with making the item of property, plant and equipment available for its intended use. The amendment is effective for annual periods beginning on or after January 1, 2022, with earlier application permitted. The adoption of this amendment did not result in any impact to the Company’s financial statements. Accounting Standards and Amendments issued but not yet effective IAS 1 – “Presentation of Financial Statements” The IASB issued an amendment to IAS 1, Presentation of Financial Statements to clarify one of the requirements under the standard for classifying a liability as non-current in nature, specifically the requirement for an entity to have the right to defer settlement of the liability for at least 12 months after the reporting period. The amendment includes: (i) specifying that an entity’s right to defer settlement must exist at the end of the reporting period; (ii) clarifying that classification is unaffected by management’s intentions or expectations about whether the entity will exercise its right to defer settlement; (iii) clarifying how lending conditions affect classification; and (iv) clarifying requirements for classifying liabilities an entity will or may settle by issuing its own equity instruments. An assessment will be performed prior to the effective date of January 1, 2023 to determine the impact to the Company’s financial statements. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars)

RECEIVABLES AND OTHER CURRENT A

RECEIVABLES AND OTHER CURRENT ASSETS	3 Months Ended
	Mar. 31, 2022
RECEIVABLES AND OTHER CURRENT ASSETS	4. RECEIVABLES AND OTHER CURRENT ASSETS A summary of the receivables and other current assets as of March 31, 2022 is detailed in the table below: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS March 31, 2022 December 31, 2021 Sales taxes receivable 46 22 Prepaid expenses 62 53 Deferred RTO expenses 174 - Total receivables and other current assets 282 75

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	3 Months Ended
	Mar. 31, 2022
EXPLORATION AND EVALUATION ASSETS	5. EXPLORATION AND EVALUATION ASSETS (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF EXPLORATION AND EVALUATION ASSETS 1 2 3 L Canada Greenland Post Creek Property Halcyon Property Quetico Claims Maniitsoq Property Total Acquisition Balance, December 31, 2021 318 246 5 - 46 626 Acquisition costs – cash 5 4 - - - 9 Impairment - - - - - - Administration Drilling Geology Geophysics Property maintenance Infrastructure Evaluation assets, gross - - Balance, March 31, 2022 323 250 5 - 46 635 Exploration Balance, December 31, 2021 1,542 265 119 - 36,558 38,473 Administration - - - - - Drilling - - - - - Geology 4 4 2 10 20 Geophysics - - - 1 1 Property maintenance - - 3 42 45 Infrastructure - - - - - Impairment - - - - - - Evaluation assets, gross 4 4 5 - 53 66 Balance, March 31, 2022 1,546 269 124 - 36,611 38,539 Total, March 31, 2022 1,869 519 129 - 36,657 39,174 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) (All amounts in table are expressed in thousands of Canadian dollars) Post Creek Property Halcyon Property Quetico Claims Lingman Lake Maniitsoq Property Total Canada Greenland Post Creek Property Halcyon Property Quetico Claims Lingman Lake Maniitsoq Property Total Acquisition Balance, December 31, 2020 308 238 42 14 46 648 Acquisition costs – cash 5 4 - - - 9 Balance, March 31, 2021 313 242 42 14 46 657 Exploration Balance, December 31, 2020 1,529 252 142 13 36,519 38,455 Balance 1,529 252 142 13 36,519 38,455 Property maintenance - - - - 17 17 Drilling - - - - 11 11 Geology 3 3 10 - 11 27 Geophysics - - 1 - - 1 Evaluation assets, gross 3 3 11 - 39 56 Balance, March 31, 2021 1,532 255 153 13 36,558 38,511 Total, March 31, 2021 1,845 497 195 27 36,604 39,168 Balance 1,845 497 195 27 36,604 39,168 The following is a description of the Company’s exploration and evaluation assets and the related spending commitments: Post Creek On December 23, 2009 and as last amended on March 12, 2013, the Company completed the required consideration and acquired the rights to a mineral claim known as the Post Creek Property located within the Sudbury Mining District of Ontario. Commencing August 1, 2015, the Company is obligated to pay advances on net smelter return royalties (“NSR”) of $ 10,000 5,000 5,000 During the three months period ended March 31, 2022, the Company incurred exploration expenditures totalling $ 3,953 3,406 Halcyon On December 31, 2015, the Company completed the required consideration of the option agreement and acquired rights to a mineral claim known as the Halcyon Property located within the Sudbury Mining District of Ontario, subject to certain NSR and advance royalty payments. Commencing August 1, 2015, the Company is obligated to pay advances on the NSR of $ 8,000 4,000 4,000 During the three months period ended March 31, 2022, the Company incurred $ 3,953 7,406 Quetico On April 26 and May 17, 2018, the Company acquired the right to certain mineral claims known as Quetico located within the Sudbury Mining District of Ontario. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) The Company had no minimum required exploration commitment for the years ended December 31, 2021 2020 and 2019 as it is not required to file any geoscience assessment work between the initial recording of a mining claim and the first anniversary date of the mining claim and two one-year exclusions were granted as a result of the COVID-19 pandemic. In April 2020, the Company applied for a one - year exclusion under a COVID-19 relief program offered by the Ontario Ministry of Energy, Northern Development and Mine (ENDM). The one-year exclusion was granted on September 1, 2020, thus adjusting the work requirement due dates to April and May of 2021. The COVID-19 relief program was offered again in 2021, and the Company lodged a second set of applications on March 29, 2021 and April 21, 2021 to extend the tenure of the claim blocks. The additional one-year exclusions were granted on May 14 and May 20, 2021 thus adjusting the work requirement due dates to April and May of 2022. By the second anniversary of the recording of a claim and by each anniversary thereafter, a minimum of $400 worth of approved exploration activity per claim unit must be reported to the Provincial Recording Office 324,000 61,783 During the three months period ended March 31, 2022, the Company incurred $ 4,799 10,993 IFRS 6 requires management to assess the exploration and evaluation assets for impairment. Accordingly, at December 31, 2021, management believed that facts and circumstances existed to suggest that the carrying amount of Quetico claims exceeded its recoverable amount. As a result, management determined the Quetico claims should be impaired by $ 71,466 124,348 Loveland Nickel (Enid Creek) Property On September 25, 2019, the Company entered into earn in agreement to acquire a 100 1 1,525,000 300,000 25,000 300,000 51,000 4,500,000 As of December 31, 2020, the Company incurred an aggregate exploration and acquisition expenditures of $ 437,897 437,897 Lingman Lake Property During the year ended December 31, 2019, the Company staked certain mineral claims known as Lingman Lake located northwest of Thunder Bay, Ontario. The Company incurred total acquisition and related costs of $ Nil Nil 27,657 Maniitsoq The Company has been granted certain exploration licenses, by the Bureau of Minerals and Petroleum (“BMP”) of Greenland for exclusive exploration rights of an area comprising the Maniitsoq Property, located near Ininngui, Greenland. The Maniitsoq Property is subject to a 2.5 1 2,000,000

SHARE CAPITAL, WARRANTS AND OPT

SHARE CAPITAL, WARRANTS AND OPTIONS	3 Months Ended
	Mar. 31, 2022
SHARE CAPITAL, WARRANTS AND OPTIONS	7. SHARE CAPITAL, WARRANTS AND OPTIONS The authorized capital of the Company comprises an unlimited number of common shares without par value and 100,000,000 a) Common shares issued and outstanding 2022 During the three months period ended March 31, 2022, the Company issued 2,665,404 379,563 2,665,404 6,278,219 665,135 6,278,219 As at March 31, 2022, the Company has 133,870,031 116,111,867 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) 2021 During the year ended December 31, 2021, the Company issued 13,080,314 1,641,675 12,580,314 112,000 500,000 no As at December 31, 2021, the Company has 131,204,627 109,833,648 On April 20, 2021 the Company closed a non-brokered private placement consisting of an aggregate of 8,290,665 0.24 1,989,760 Each unit consists of one common share in the capital of the Company and one half transferable common share purchase warrant (“Warrant”) of the Company. Each full Warrant entitles the holder to acquire one common share of the Company within twenty-four (24) months following its issuance date, at a price of $0.35. The warrants are subject to an acceleration clause such that if the closing market price of the common shares on the TSX-V is greater than $0.60 per common share for a period of 10 consecutive trading days at any time after the four-month anniversary of the closing of the placement, the Company may, at its option, accelerate the warrant expiry date to within 30 days. In connection with the private placement, the Company has paid eligible finders (the “Finders”): (i) cash commission equal to 6% of the gross proceeds raised from subscribers introduced to the Company by such Finders, being an aggregate of $65,830, and (ii) a number of common share purchase warrants (the “Finder Warrants”) equal to 6% of the units attributable to the Finders under the private placement, being an aggregate of 274,289 Finder Warrants. Each Finder Warrant entitles the Finder to acquire one common share of the Company for a period of twenty-four (24) months following its issuance date, at an exercise price of $0.35. The Company allocated a $ 464,493 30,735 1.5 0 0.29 132 b) Preferred shares issued and outstanding As at March 31, 2022 and March 31, 2021 there are 590,931 The rights and restrictions of the preferred shares are as follows: i) dividends shall be paid at the discretion of the directors; ii) the holders of the preferred shares are not entitled to vote except at meetings of the holders of the preferred shares, where they are entitled to one vote for each preferred share held; iii) the shares are convertible at any time after 6 months from the date of issuance, upon the holder serving the Company with 10 days written notice; and iv) the number of the common shares to be received on conversion of the preferred shares is to be determined by dividing the conversion value of the share, $1 per share, by $ 9.00 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) c) Warrants A summary of common share purchase warrants activity during the three months period ended March 31, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS March 31, 2022 December 31, 2021 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of year 16,082,825 0.15 25,715,742 0.11 Issued - - 4,419,620 0.35 Exercised (2,665,404 ) 0.14 (12,580,314 ) 0.13 Cancelled / expired - - (1,472,223 ) 0.25 Outstanding, end of year 13,417,421 0.16 16,082,825 0.15 At March 31, 2022, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS Warrants Outstanding Expiry Date Exercise Price ($) Weighted Average remaining contractual life (years) 8,871,817 1 August 13, 2022 0.09 0.24 1,076,067 1 August 31, 2022 0.09 0.03 3,469,537 April 16, 2023 0.35 0.26 13,417,421 0.53 1 The warrants are subject to an acceleration clause such that if the volume-weighted average trading price of the Company’s common shares on the TSX-V exceeds $ 0.12 10 The average share price at the dates the finders’ warrants were exercised was $ 0.34 (d) Stock options The Company adopted a Stock Option Plan (the “Plan”), providing the authority to grant options to directors, officers, employees and consultants enabling them to acquire up to 10 10 A summary of option activity under the Plan during the three months period ended March 31, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS March 31, 2022 December 31, 2021 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of year 15,054,597 0.27 7,978,725 0.17 Issued - - 8,178,972 0.37 Exercised - - (500,000 ) 0.22 Cancelled / expired (75,625 ) 1.20 (603,100 ) 0.31 Outstanding, end of year 14,978,972 0.27 15,054,597 0.27 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) There were no During the three months period ended March 31, 2021, the Company granted an aggregate total of 3,185,000 5 0.32 837,444 During the year ended December 31, 2021, the Company granted an aggregate total of 8,178,972 5 3,185,000 0.32 4,993,972 0.40 2,530,706 0.31 The fair value of stock options granted and vested during the periods ended March 31, 2022 and 2021 was calculated using the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL March 31, 2022 March 31, 2021 Expected dividend yield - 0 % Expected share price volatility - 127.83 % Risk free interest rate - 0.93 % Expected life of options - 5 Details of options outstanding as at March 31, 2022 are as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS Options Outstanding Options Exercisable Expiry Date Exercise Price ($) Weighted average remaining contractual life (years) 5,800,000 5,800,000 February 24, 2025 0.16 1.13 1,200,000 1,200,000 August 19, 2025 0.09 0.27 2,985,000 2,985,000 February 25, 2026 0.32 0.78 4,993,972 4,993,972 October 25, 2026 0.40 1.52 14,978,972 14,978,972 3.70 d) Reserve The reserve records items recognized as stock-based compensation expense and other share-based payments until such time that the stock options or warrants are exercised, at which time the corresponding amount will be transferred to share capital. Amounts recorded for forfeited or expired unexercised options and warrants are transferred to deficit. During the three months period ended March 31, 2022, the Company transferred $ 61,676 97,953 138,662 242,901 During the three months period ended March 31, 2022, the Company recorded $ Nil 837,444 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars)

INVESTMENT IN PREMIUM NICKEL RE

INVESTMENT IN PREMIUM NICKEL RESOURCES INC.	3 Months Ended
	Mar. 31, 2022
INVESTMENT IN PREMIUM NICKEL RESOURCES INC.	8. INVESTMENT IN PREMIUM NICKEL RESOURCES INC. On September 30, 2019, the Company entered into a Memorandum of Understanding (“MOU”) with Premium Nickel. Pursuant to the MOU, the Company and Premium Nickel set forth their interests in negotiating and acquiring several of the assets of BCL Limited, a private company with operations in Botswana that is currently in liquidation. Concurrent with the MOU, the Company initially subscribed for 2,400,000 0.01 24,000 The Company’s initial investment also included Premium Nickel issuing the Company a non-transferable share purchase warrant (the “Warrant”), which entitles the Company to purchase common shares of Premium Nickel, for up to 15% of the capital of Premium Nickel upon payment of US $10 million prior to the fifth anniversary of the date of issue. 4,657,711 154,164 441,446 10 11.01 As of March 31, 2022, the Company was providing the corporate management and technical expertise to Premium Nickel on a contractual basis, had two directors representing the Company on the Board, who were actively participating in the day-to-day activities of Premium Nickel and actively contributing to Premium Nickel’s financial and operational strategies. Accordingly, the Company determined that it has significant influence in Premium Nickel and has used equity accounting for the investment. Premium Nickel’s financial information at March 31, 2022 was net assets of $ 16,423,840 1,343,634 Details of the Company’s investment at March 31, 2022 is as follows: SCHEDULE OF INVESTMENT Investment Balance, December 31, 2021 321 Investment - Share of loss of Premium Nickel (135 ) Total 186 On January 1, 2020, the Company entered into a Management and Technical Services Agreement (“the Services Agreement”) with Premium Nickel whereby the Company will provide certain technical, corporate, administrative and clerical, office and other services to Premium Nickel during the development stage of the contemplated arrangement. The Company will charge Premium Nickel for expenses incurred and has the right to charge a 2% administrative fee on third party expenses. The Company will invoice Premium Nickel on a monthly basis and payment shall be made by Premium Nickel no later than 15 days after receipt of such invoice. The term of the Service Agreement is for an initial period of 3 years and can be renewed for an additional 1 year period. The Service Agreement can be terminated within 30 days notice, for non-performance, by the Company giving 6 months notice or Premium Nickel within 90 days provided the Company no longer owns at least 10% of the outstanding common shares of Premium Nickel. 473,797 161,639 8,650 320,367 162,587 1,622,575 75,725 1,270,000 1,622,575 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars)

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2022
RELATED PARTY TRANSACTIONS	9. RELATED PARTY TRANSACTIONS The following amounts due to related parties are included in trade payables and accrued liabilities (Note 6): SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES (All amounts in table are expressed in thousands of Canadian dollars) 1 5 March 31, 2022 December 31, 2021 Directors and officers of the Company 46 28 Related company - 5 Total 46 33 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. The following amount due from related party and advance represent as well as the investment in Premium Nickel a private company incorporated in Ontario, in which certain directors and officers of the Company also hold offices and minority investments. (All amounts in table are expressed in thousands of Canadian dollars) 1 2 March 31, 2022 December 31, 2021 Due from related party 1,623 199 Investment 186 321 Total 1,809 520 (a) Related party transactions 2022 Sentient Executive GP IV Limited (“Sentient”) and Contemporary Amperex Technology Limited (“CATL”) have historically subscribed to private placements of the Company. As of March 31, 2022, Sentient beneficially owns 36,980,982 33.66 As of March 31, 2022, CATL beneficially owns 22,944,444 20.89 (b) Key management personnel are defined as members of the Board of Directors and senior officers. Key management compensation was: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF KEY MANAGEMENT COMPENSATION - 2 March 31, 2022 March 31, 2021 Management fees – expensed 163 183 Share-based payments - 621 Total 163 804 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars)

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Information
SUPPLEMENTAL CASH FLOW INFORMATION	10. SUPPLEMENTAL CASH FLOW INFORMATION Changes in working capital for the year ended March 31, 2022 and 2021 are as follows: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF CHANGES IN WORKING CAPITAL 270 159 March 31, 2022 March 31, 2021 (Increase) in due from related party (154 ) (22 ) (Increase) in prepaid expenses (9 ) (15 ) (increase) in Sales tax receivable and deferred RTO expense (198 ) (5 ) Increase in trade payables and accrued liabilities 270 159 Total changes in working capital (91 ) 117 During the three months period ended March 31, 2022, the Company: i) transferred $ 44,144 ii) Transferred $ 138,662 iii) recorded $ 86,569 During the three months period ended March 31, 2021, the Company: i) transferred $ 97,953 ii) Transferred $ 242,901 iii) recorded $ 5,568 iv) Reclassed $ 50,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES The Company has certain commitments to meet the minimum expenditures requirements on its exploration and evaluation assets. Further, the Company has a site restoration obligation with respect to its Greenland exploration and evaluation asset. Effective July 1, 2014, the Company had changes to management and entered into the following agreements for services with directors of the Company and a company in which a director has an interest: i) Directors’ fees: $ 2,000 3,000 2,500 ii) Management fees: $ 19,106 30,951 Effectively on June 1, 2018, the Company changed the terms with Keith Morrison, the CEO, from direct employment to contracted consultant and entered into a service agreement with his company. Each of the agreements shall be continuous and may only be terminated by mutual agreement of the parties, subject to the provisions that in the event there is a change of effective control of the Company, the party shall have the right to terminate the agreement, within sixty days thirty days Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars)

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended
	Mar. 31, 2022
SEGMENTED INFORMATION	12. SEGMENTED INFORMATION The Company operates in one two (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF GEOGRAPHIC SEGMENTS 4 4 March 31, 2022 December 31, 2021 Equipment Canada 4 4 Greenland 11 12 Total 15 16 Equipment 15 16 March 31, 2022 December 31, 2021 Exploration and evaluation assets Canada 2,517 2,495 Greenland 36,657 36,604 Total 39,174 39,099 Exploration and evaluation assets 39,174 39,099

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES	3 Months Ended
	Mar. 31, 2022
GENERAL AND ADMINISTRATIVE EXPENSES	13. GENERAL AND ADMINISTRATIVE EXPENSES Details of the general and administrative expenses by nature are presented in the following table: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES 1 4 March 31, 2022 March 31, 2021 Consulting fees 57 76 Filing fees 11 14 General office expenses 31 17 Investor relations 28 16 Management fees 93 126 Professional fees 21 13 Total 241 262

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2022
SUBSEQUENT EVENTS	14. SUBSEQUENT EVENTS a) Further to the announcement made on February 17, 2022, the Company announced on April 26, 2022 that it had entered into a definitive amalgamation agreement (the “Amalgamation Agreement”) in respect of the reverse takeover transaction (the “RTO”), pursuant to which PNR would “go-public” by way of a reverse takeover of NAN. References to the “Resulting Issuer” are to NAN after the closing of the RTO. As certain directors and officers of NAN are also directors and officers of PNR, the Amalgamation Agreement is considered a “Non-Arm’s Length” agreement pursuant to the policies of the TSX Venture Exchange (the “Exchange”). On April 25, 2022, NAN, PNR and 1000178269 Ontario Inc. (“NAN Subco”), a wholly-owned subsidiary of NAN incorporated under the Business Corporations Act (Ontario) (the “OBCA”), entered into the Amalgamation Agreement, which provides for, among other things, a three-cornered amalgamation (the “Amalgamation”) pursuant to which (i) NAN Subco will amalgamate with PNR under Section 174 of the OBCA to form one corporation (“Amalco”), (ii) the securityholders of PNR will receive securities of the Resulting Issuer in exchange for their securities of PNR at an exchange ratio of 5.27 Resulting Issuer Shares (as defined herein) for each outstanding share of PNR (subject to adjustments in accordance with the Amalgamation Agreement) (the “Exchange Ratio”), and (iii) the transactions will result in a RTO of NAN in accordance with the policies of the Exchange, all in the manner contemplated by, and pursuant to, the terms and conditions of the Amalgamation Agreement. b) Pursuant to a promissory note loan agreement entered on March 3, 2022, whereby Premium Nickel borrowed US $ 1,000,000 April 30, 2022 10% 3 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) c) On April 2, 2022, the Company entered into an agreement with Paradigm Capital Inc. (the “Agent”) to act as lead agent and sole bookrunner, on behalf of a syndicate, on a “best efforts” basis, for a private placement offering of subscription receipts of the Company (the “Subscription Receipts”) for gross proceeds of $ 5,000,000 0.48 10,000,320 d) Pursuant to an Agency Agreement dated April 28, 2022, the Company announced that it had closed the Offering of 21,118,000 0.48 10,136,640 Each Subscription Receipt shall be deemed to be automatically exercised, without payment of any additional consideration and without further action on the part of the holder thereof, into one common share of the Company, on a one-for-one basis, upon satisfaction of the Escrow Release Conditions as defined,subject to adjustment in certain events. The Subscription Receipts and the underlying common shares of the Company that are issuable following the satisfaction of the Escrow Release Conditions will be subject to a statutory hold period expiring four months and one day from the closing date of the Offering (the “Closing Date”) in accordance with applicable Canadian securities laws. Subject to the satisfaction of the Escrow Release Conditions as defined, the net proceeds from the Offering will be used to fund exploration and development, working capital and for general corporate purposes.

BASIS OF PREPARATION AND SIGN_2

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Statement of Compliance	(a) Statement of Compliance These condensed interim consolidated financial statements were prepared in accordance with International Financial Reporting Standards (“IFRS”), including IAS 34 Interim Financial Statements. The condensed interim consolidated financial statements do not include all of the information and disclosures required in the annual financial statements, and should be read in conjunction with the Company’s audited annual financial statements for the year ended December 31, 2021. Any subsequent changes to IFRS that are reflected in the Company’s consolidated financial statements for the year ended December 31, 2022 could result in restatement of these condensed interim consolidated financial statements. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars)
Basis of Preparation	(b) Basis of Preparation These condensed interim consolidated financial statements have been prepared under the historical cost convention, modified by the revaluation of any financial assets and financial liabilities where applicable. The preparation of financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgment in the process of applying the Company’s accounting policies. The significant accounting policies used in the preparation of these condensed interim consolidated financial statements are consistent with those used in the preparation of the annual consolidated financial statements for the year ended December 31, 2021.
Basis of consolidation	(c) Basis of consolidation These condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiary, North American Nickel (US) Inc. which was incorporated in the State of Delaware on May 22, 2015. Consolidation is required when the Company is exposed, or has rights to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. The Company’s consolidated financial statements were prepared in accordance with International Financial Reporting Standards (“IFRS”).

RECEIVABLES AND OTHER CURRENT_2

RECEIVABLES AND OTHER CURRENT ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS	A summary of the receivables and other current assets as of March 31, 2022 is detailed in the table below: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS March 31, 2022 December 31, 2021 Sales taxes receivable 46 22 Prepaid expenses 62 53 Deferred RTO expenses 174 - Total receivables and other current assets 282 75

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF EXPLORATION AND EVALUATION ASSETS	SCHEDULE OF EXPLORATION AND EVALUATION ASSETS 1 2 3 L Canada Greenland Post Creek Property Halcyon Property Quetico Claims Maniitsoq Property Total Acquisition Balance, December 31, 2021 318 246 5 - 46 626 Acquisition costs – cash 5 4 - - - 9 Impairment - - - - - - Administration Drilling Geology Geophysics Property maintenance Infrastructure Evaluation assets, gross - - Balance, March 31, 2022 323 250 5 - 46 635 Exploration Balance, December 31, 2021 1,542 265 119 - 36,558 38,473 Administration - - - - - Drilling - - - - - Geology 4 4 2 10 20 Geophysics - - - 1 1 Property maintenance - - 3 42 45 Infrastructure - - - - - Impairment - - - - - - Evaluation assets, gross 4 4 5 - 53 66 Balance, March 31, 2022 1,546 269 124 - 36,611 38,539 Total, March 31, 2022 1,869 519 129 - 36,657 39,174 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the three months ended March 31, 2022 (Expressed in Canadian dollars) (All amounts in table are expressed in thousands of Canadian dollars) Post Creek Property Halcyon Property Quetico Claims Lingman Lake Maniitsoq Property Total Canada Greenland Post Creek Property Halcyon Property Quetico Claims Lingman Lake Maniitsoq Property Total Acquisition Balance, December 31, 2020 308 238 42 14 46 648 Acquisition costs – cash 5 4 - - - 9 Balance, March 31, 2021 313 242 42 14 46 657 Exploration Balance, December 31, 2020 1,529 252 142 13 36,519 38,455 Balance 1,529 252 142 13 36,519 38,455 Property maintenance - - - - 17 17 Drilling - - - - 11 11 Geology 3 3 10 - 11 27 Geophysics - - 1 - - 1 Evaluation assets, gross 3 3 11 - 39 56 Balance, March 31, 2021 1,532 255 153 13 36,558 38,511 Total, March 31, 2021 1,845 497 195 27 36,604 39,168 Balance 1,845 497 195 27 36,604 39,168

SHARE CAPITAL, WARRANTS AND O_2

SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS	A summary of common share purchase warrants activity during the three months period ended March 31, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS March 31, 2022 December 31, 2021 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of year 16,082,825 0.15 25,715,742 0.11 Issued - - 4,419,620 0.35 Exercised (2,665,404 ) 0.14 (12,580,314 ) 0.13 Cancelled / expired - - (1,472,223 ) 0.25 Outstanding, end of year 13,417,421 0.16 16,082,825 0.15
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS	At March 31, 2022, the Company had outstanding common share purchase warrants exercisable to acquire common shares of the Company as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS Warrants Outstanding Expiry Date Exercise Price ($) Weighted Average remaining contractual life (years) 8,871,817 1 August 13, 2022 0.09 0.24 1,076,067 1 August 31, 2022 0.09 0.03 3,469,537 April 16, 2023 0.35 0.26 13,417,421 0.53 1 The warrants are subject to an acceleration clause such that if the volume-weighted average trading price of the Company’s common shares on the TSX-V exceeds $ 0.12 10 The average share price at the dates the finders’ warrants were exercised was $ 0.34
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS	A summary of option activity under the Plan during the three months period ended March 31, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS March 31, 2022 December 31, 2021 Number Outstanding Weighted Average Exercise Price ($) Number Outstanding Weighted Average Exercise Price ($) Outstanding, beginning of year 15,054,597 0.27 7,978,725 0.17 Issued - - 8,178,972 0.37 Exercised - - (500,000 ) 0.22 Cancelled / expired (75,625 ) 1.20 (603,100 ) 0.31 Outstanding, end of year 14,978,972 0.27 15,054,597 0.27
SCHEDULE OF INPUTS TO OPTION PRICING MODEL	The fair value of stock options granted and vested during the periods ended March 31, 2022 and 2021 was calculated using the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL March 31, 2022 March 31, 2021 Expected dividend yield - 0 % Expected share price volatility - 127.83 % Risk free interest rate - 0.93 % Expected life of options - 5
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS	Details of options outstanding as at March 31, 2022 are as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS Options Outstanding Options Exercisable Expiry Date Exercise Price ($) Weighted average remaining contractual life (years) 5,800,000 5,800,000 February 24, 2025 0.16 1.13 1,200,000 1,200,000 August 19, 2025 0.09 0.27 2,985,000 2,985,000 February 25, 2026 0.32 0.78 4,993,972 4,993,972 October 25, 2026 0.40 1.52 14,978,972 14,978,972 3.70

INVESTMENT IN PREMIUM NICKEL _2

INVESTMENT IN PREMIUM NICKEL RESOURCES INC. (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF INVESTMENT	Details of the Company’s investment at March 31, 2022 is as follows: SCHEDULE OF INVESTMENT Investment Balance, December 31, 2021 321 Investment - Share of loss of Premium Nickel (135 ) Total 186

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES	The following amounts due to related parties are included in trade payables and accrued liabilities (Note 6): SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES (All amounts in table are expressed in thousands of Canadian dollars) 1 5 March 31, 2022 December 31, 2021 Directors and officers of the Company 46 28 Related company - 5 Total 46 33 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. The following amount due from related party and advance represent as well as the investment in Premium Nickel a private company incorporated in Ontario, in which certain directors and officers of the Company also hold offices and minority investments. (All amounts in table are expressed in thousands of Canadian dollars) 1 2 March 31, 2022 December 31, 2021 Due from related party 1,623 199 Investment 186 321 Total 1,809 520
SCHEDULE OF KEY MANAGEMENT COMPENSATION	Key management compensation was: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF KEY MANAGEMENT COMPENSATION - 2 March 31, 2022 March 31, 2021 Management fees – expensed 163 183 Share-based payments - 621 Total 163 804

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Information
SCHEDULE OF CHANGES IN WORKING CAPITAL	Changes in working capital for the year ended March 31, 2022 and 2021 are as follows: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF CHANGES IN WORKING CAPITAL 270 159 March 31, 2022 March 31, 2021 (Increase) in due from related party (154 ) (22 ) (Increase) in prepaid expenses (9 ) (15 ) (increase) in Sales tax receivable and deferred RTO expense (198 ) (5 ) Increase in trade payables and accrued liabilities 270 159 Total changes in working capital (91 ) 117

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF GEOGRAPHIC SEGMENTS	SCHEDULE OF GEOGRAPHIC SEGMENTS 4 4 March 31, 2022 December 31, 2021 Equipment Canada 4 4 Greenland 11 12 Total 15 16 Equipment 15 16 March 31, 2022 December 31, 2021 Exploration and evaluation assets Canada 2,517 2,495 Greenland 36,657 36,604 Total 39,174 39,099 Exploration and evaluation assets 39,174 39,099

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2022
SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES	Details of the general and administrative expenses by nature are presented in the following table: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES 1 4 March 31, 2022 March 31, 2021 Consulting fees 57 76 Filing fees 11 14 General office expenses 31 17 Investor relations 28 16 Management fees 93 126 Professional fees 21 13 Total 241 262

SCHEDULE OF RECEIVABLES AND OTH

SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS (Details) - CAD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Sales taxes receivable	$ 46	$ 22
Prepaid expenses	62	53
Deferred RTO expenses	174
Total receivables and other current assets	$ 282	$ 75

SCHEDULE OF EXPLORATION AND EVA

SCHEDULE OF EXPLORATION AND EVALUATION ASSETS (Details) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
IfrsStatementLineItems [Line Items]
Balance	$ 39,174	$ 39,168
Post Creek Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance	1,869	1,845
Halcyon Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance	519	497
Quetico Claims [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance	129	195
Lingman Lake [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance		27
Maniitsoq Property [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance	36,657	36,604
Exploration and Evaluation Assets Arising from Acquisition [Member]
IfrsStatementLineItems [Line Items]
Balance	626	648
Acquisition costs – cash	9	9
Impairment
Balance	635	657
Exploration and Evaluation Assets Arising from Acquisition [Member] | Post Creek Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance	318	308
Acquisition costs – cash	5	5
Impairment
Balance	323	313
Exploration and Evaluation Assets Arising from Acquisition [Member] | Halcyon Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance	246	238
Acquisition costs – cash	4	4
Impairment
Balance	250	242
Exploration and Evaluation Assets Arising from Acquisition [Member] | Quetico Claims [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance	5	42
Acquisition costs – cash
Impairment
Evaluation assets, gross
Balance	5	42
Exploration and Evaluation Assets Arising from Acquisition [Member] | Lingman Lake [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance		14
Acquisition costs – cash
Impairment
Evaluation assets, gross
Balance		14
Exploration and Evaluation Assets Arising from Acquisition [Member] | Maniitsoq Property [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance	46	46
Acquisition costs – cash
Impairment
Balance	46	46
Exploration and Evaluation Assets Arising from Exploration [Member]
IfrsStatementLineItems [Line Items]
Balance	38,473	38,455
Impairment
Administration
Drilling		11
Geology	20	27
Geophysics	1	1
Property maintenance	45	17
Infrastructure
Evaluation assets, gross	66	56
Balance	38,539	38,511
Exploration and Evaluation Assets Arising from Exploration [Member] | Post Creek Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance	1,542	1,529
Impairment
Administration
Drilling
Geology	4	3
Geophysics
Property maintenance
Infrastructure
Evaluation assets, gross	4	3
Balance	1,546	1,532
Exploration and Evaluation Assets Arising from Exploration [Member] | Halcyon Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance	265	252
Impairment
Administration
Drilling
Geology	4	3
Geophysics
Property maintenance
Infrastructure
Evaluation assets, gross	4	3
Balance	269	255
Exploration and Evaluation Assets Arising from Exploration [Member] | Quetico Claims [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance	119	142
Impairment
Administration
Drilling
Geology	2	10
Geophysics		1
Property maintenance	3
Infrastructure
Evaluation assets, gross	5	11
Balance	124	153
Exploration and Evaluation Assets Arising from Exploration [Member] | Lingman Lake [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance		13
Impairment
Drilling
Geology
Geophysics
Property maintenance
Evaluation assets, gross
Balance		13
Exploration and Evaluation Assets Arising from Exploration [Member] | Maniitsoq Property [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance	36,558	36,519
Impairment
Administration
Drilling		11
Geology	10	11
Geophysics	1
Property maintenance	42	17
Infrastructure
Evaluation assets, gross	53	39
Balance	$ 36,611	$ 36,558

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details Narrative) - CAD ($)	Apr. 26, 2021	Sep. 25, 2019	Aug. 01, 2015	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jun. 04, 2021
IfrsStatementLineItems [Line Items]
Total expenditure									$ 61,783
Acquisition and exploration related cost				$ 48,000	$ 59,000
Post Creek Property [Member]
IfrsStatementLineItems [Line Items]
Advances payable annually on net smelter return royalties			$ 10,000
Payments made in advance				5,000	5,000
Exploration and license related expenditures				3,953	3,406
Halcyon Property [Member]
IfrsStatementLineItems [Line Items]
Advances payable annually on net smelter return royalties			$ 8,000
Payments made in advance				4,000	4,000
Exploration and license related expenditures				3,953	7,406
Quetico Property [Member]
IfrsStatementLineItems [Line Items]
Exploration and license related expenditures				$ 4,799	$ 10,993
Exploration claim description				By the second anniversary of the recording of a claim and by each anniversary thereafter, a minimum of $400 worth of approved exploration activity per claim unit must be reported to the Provincial Recording Office
Impaired amount for exploration and evaluation assets						$ 71,466
Recoverable amount for exploration and evaluation assets						124,348
Quetico Property [Member] | Prior to April 26, 2021 [Member]
IfrsStatementLineItems [Line Items]
Total annual work requirement cost	$ 324,000
Loveland (Enid Creek) Property [Member]
IfrsStatementLineItems [Line Items]
Percentage of interest in property to be acquired on basis of option agreement		100.00%
Acquisition costs		$ 1,525,000
Issuance of common shares		300,000						300,000
Payment to acquire property								$ 25,000
Common shares fair value								$ 51,000
Acquisition and exploration related cost				$ 4,500,000			$ 437,897
Loveland (Enid Creek) Property [Member] | NSR [Member]
IfrsStatementLineItems [Line Items]
Percentage of interest in property to be acquired on basis of option agreement		1.00%
Lingman Lake Property [Member]
IfrsStatementLineItems [Line Items]
Acquisition and exploration related cost						0	$ 0
Purchase of exploration and evaluations assets impaired						$ 27,657
Maniitsoq Property [Member]
IfrsStatementLineItems [Line Items]
Percentage of net smelter return royalties				2.50%
Percentage of net smelter return royalties after reduction				1.00%
Payment required to reduce net smelter return royalties				$ 2,000,000

SCHEDULE OF NUMBER AND WEIGHTED

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2022shares$ / shares	Dec. 31, 2021shares$ / shares
Reserve Quantities [Line Items]
Outstanding at end of year	13,417,421
Post-consolidation Basis [Member]
Reserve Quantities [Line Items]
Number outstanding at beginning of year	16,082,825	25,715,742
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares	$ 0.15	$ 0.11
Number outstanding, Issued		4,419,620
Weighted Average Exercise Price, Issued | $ / shares		$ 0.35
Number outstanding, Exercised	(2,665,404)	(12,580,314)
Weighted Average Exercise Price, Exercised | $ / shares	$ 0.14	$ 0.13
Number outstanding, Cancelled / expired		(1,472,223)
Weighted Average Exercise Price, Cancelled / expired | $ / shares		$ 0.25
Outstanding at end of year	13,417,421	16,082,825
Weighted Average Exercise Price, Outstanding at end of year | $ / shares	$ 0.16	$ 0.15

SCHEDULE OF NUMBER AND WEIGHT_2

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS (Details)	3 Months Ended
	Mar. 31, 2022shares$ / shares
IfrsStatementLineItems [Line Items]
Warrants outstanding | shares	13,417,421
Exercise price | $ / shares	$ 9
Weighted average remaining contractual life (years)	6 months 10 days
Warrants Expiring August 13, 2022 [Member]
IfrsStatementLineItems [Line Items]
Warrants outstanding | shares	8,871,817	[1]
Exercise price | $ / shares	$ 0.09
Weighted average remaining contractual life (years)	2 months 26 days
Warrants Expiring August 31, 2022 [Member]
IfrsStatementLineItems [Line Items]
Warrants outstanding | shares	1,076,067	[1]
Exercise price | $ / shares	$ 0.09
Weighted average remaining contractual life (years)	10 days
Warrants Expiring April 16, 2023 [Member]
IfrsStatementLineItems [Line Items]
Warrants outstanding | shares	3,469,537
Exercise price | $ / shares	$ 0.35
Weighted average remaining contractual life (years)	3 months 3 days
[1]	The warrants are subject to an acceleration clause such that if the volume-weighted average trading price of the Company’s common shares on the TSX-V exceeds $ 0.12 10

SCHEDULE OF NUMBER AND WEIGHT_3

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS (Details) (Parenthetical)	3 Months Ended
	Mar. 31, 2022$ / shares
IfrsStatementLineItems [Line Items]
Exercise price of warrant	$ 9
Warrants [Member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant	$ 0.12
Trading days	10 days

SCHEDULE OF NUMBER AND WEIGHT_4

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2022shares$ / shares	Mar. 31, 2021shares	Dec. 31, 2021shares$ / shares
Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding, end of year	14,978,972
Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Number outstanding, Issued		3,185,000	8,178,972
Stock Option Plan [Member] | Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding, beginning of year	15,054,597	7,978,725	7,978,725
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares	$ 0.27		$ 0.17
Number outstanding, Issued			8,178,972
Weighted Average Exercise Price, Issued | $ / shares			$ 0.37
Number outstanding, Exercised			(500,000)
Weighted Average Exercise Price, Exercised | $ / shares			$ 0.22
Number outstanding, Cancelled / expired	(75,625)		(603,100)
Weighted Average Exercise Price, Cancelled / expired | $ / shares	$ 1.20		$ 0.31
Outstanding, end of year	14,978,972		15,054,597
Weighted Average Exercise Price, end of year | $ / shares	$ 0.27		$ 0.27

SCHEDULE OF INPUTS TO OPTION PR

SCHEDULE OF INPUTS TO OPTION PRICING MODEL (Details)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Expected dividend yield		0.00%
Expected share price volatility		127.83%
Risk free interest rate		0.93%
Expected life of options		5 years

SCHEDULE OF NUMBER AND WEIGHT_5

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS (Details) - Post-consolidation Basis [Member]	3 Months Ended
	Mar. 31, 2022shares$ / shares
IfrsStatementLineItems [Line Items]
Options outstanding	14,978,972
Options exercisable	14,978,972
Weighted average remaining contractual life (years)	3 years 8 months 12 days
Options Expiring February 24, 2025 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	5,800,000
Options exercisable	5,800,000
Exercise price | $ / shares	$ 0.16
Weighted average remaining contractual life (years)	1 year 1 month 17 days
Options Expiring August 19, 2025 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	1,200,000
Options exercisable	1,200,000
Exercise price | $ / shares	$ 0.09
Weighted average remaining contractual life (years)	3 months 7 days
Options Expiring February 25, 2026 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	2,985,000
Options exercisable	2,985,000
Exercise price | $ / shares	$ 0.32
Weighted average remaining contractual life (years)	9 months 10 days
Options Expiring October 25, 2026 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	4,993,972
Options exercisable	4,993,972
Exercise price | $ / shares	$ 0.40
Weighted average remaining contractual life (years)	1 year 6 months 7 days

SHARE CAPITAL, WARRANTS AND O_3

SHARE CAPITAL, WARRANTS AND OPTIONS (Details Narrative) - CAD ($)	Apr. 20, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Number of shares issued		2,665,404
Proceeds from exercise of warrants				$ 12,580,314
Share capital issued through exercise of warrants				13,080,314
Proceeds from exercise of warrants and options		$ 380,000	$ 665,000
Proceeds from exercise of options				$ 112,000
Exercised options				$ 500,000	$ 0
Exercised warrants					$ 0
Issuance of private placement units	8,290,665
Par value per share	$ 0.24
Proceeds from private placements	$ 1,989,760
Expected dividend as percentage, share options granted			0.00%
Risk free interest rate, share options granted			0.93%
Expected volatility, share options granted			127.83%
Exercise price of warrant		$ 9
Warrant exercisable price per share		$ 0.34
Share based payment expense			$ 837,000
Increase (Decrease) through expiry of options and warrants, equity		61,676	97,953
Share capital for exercised warrants options		138,662	242,901
Share-based payments		$ 0	$ 837,444
Incentive Stock Options [Member]
IfrsStatementLineItems [Line Items]
Number of stock option granted		0
Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Period of options granted			5 years	5 years
Number of stock option granted			3,185,000	8,178,972
Share based payment expense			$ 837,444	$ 2,530,706
Weighted average fair value of options granted				$ 0.31
Stock Option Plan [Member] | Options One [Member]
IfrsStatementLineItems [Line Items]
Stock options exercisable price per share			$ 0.32	$ 0.32
Number of stock option exercised				3,185,000
Stock Option Plan [Member] | Options Two [Member]
IfrsStatementLineItems [Line Items]
Stock options exercisable price per share				$ 0.40
Number of stock option exercised				4,993,972
Top of range [member]
IfrsStatementLineItems [Line Items]
Percentage of beneficially owns, issued and outstanding		10.00%
Period of options granted		10 years
Private Placements [Member]
IfrsStatementLineItems [Line Items]
Fair value of warrants issued				$ 464,493
Agents [Member]
IfrsStatementLineItems [Line Items]
Fair value of warrants issued				$ 30,735
Non Brokered Private Placement [Member]
IfrsStatementLineItems [Line Items]
Expected life				1 year 6 months
Expected dividend as percentage, share options granted				0.00%
Risk free interest rate, share options granted				0.29%
Expected volatility, share options granted				132.00%
Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Number of shares issued		133,870,031	116,111,867	131,204,627	109,833,648
Proceeds from exercise of warrants		$ 379,563	$ 665,135
Number of warrants exercised		2,665,404	6,278,219
Share capital issued through exercise of warrants		2,665,404	6,278,219
Number of shares outstanding		133,870,031	116,111,867	131,204,627	109,833,648
Proceeds from exercise of warrants and options				$ 1,641,675
Exercised warrants		$ 139,000	$ 243,000
Share based payment expense
Warrants [Member]
IfrsStatementLineItems [Line Items]
Warrants description	Each unit consists of one common share in the capital of the Company and one half transferable common share purchase warrant (“Warrant”) of the Company. Each full Warrant entitles the holder to acquire one common share of the Company within twenty-four (24) months following its issuance date, at a price of $0.35. The warrants are subject to an acceleration clause such that if the closing market price of the common shares on the TSX-V is greater than $0.60 per common share for a period of 10 consecutive trading days at any time after the four-month anniversary of the closing of the placement, the Company may, at its option, accelerate the warrant expiry date to within 30 days.
Finder Warrants [Member]
IfrsStatementLineItems [Line Items]
Warrants description	the Company has paid eligible finders (the “Finders”): (i) cash commission equal to 6% of the gross proceeds raised from subscribers introduced to the Company by such Finders, being an aggregate of $65,830, and (ii) a number of common share purchase warrants (the “Finder Warrants”) equal to 6% of the units attributable to the Finders under the private placement, being an aggregate of 274,289 Finder Warrants. Each Finder Warrant entitles the Finder to acquire one common share of the Company for a period of twenty-four (24) months following its issuance date, at an exercise price of $0.35.
Series 1 Convertible Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Authorized capital				100,000,000
Series 1 Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares outstanding		590,931	590,931

SCHEDULE OF INVESTMENT (Details

SCHEDULE OF INVESTMENT (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022CAD ($)
Balance, December 31, 2020	$ 321
Investment
Share of loss of Premium Nickel	(135)
Total	$ 186

SCHEDULE OF AMOUNTS DUE TO RELA

SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total	$ 46	$ 33
Due from related party	1,623	199
Investment	186	321
Total	1,809	520
Directors and Officers Company [Member]
IfrsStatementLineItems [Line Items]
Total	46	28
Related Company [Member]
IfrsStatementLineItems [Line Items]
Total		$ 5

INVESTMENT IN PREMIUM NICKEL _3

INVESTMENT IN PREMIUM NICKEL RESOURCES INC. (Details Narrative) - CAD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2020	May 30, 2022	Dec. 31, 2021	Apr. 20, 2021
IfrsStatementLineItems [Line Items]
Par value per share						$ 0.24
Assets	$ 41,970,000				$ 41,683,000
Profit (loss)	(390,000)	$ (1,125,000)
Professional fees expense	21,000	13,000
Administrative expenses	31,000	17,000
Amounts receivable, related party transactions	$ 1,623,000				$ 199,000
Premium Nickel Resources [Member]
IfrsStatementLineItems [Line Items]
Percentage of voting equity interests acquired					10.00%
Premium Nickel Resources [Member] | Non-adjusting Events After Reporting Period [Member]
IfrsStatementLineItems [Line Items]
Investments accounted for using equity method				$ 1,622,575
Memorandum of Understanding [Member] | Premium Nickel Resources [Member]
IfrsStatementLineItems [Line Items]
Number of units subscribed	2,400,000
Par value per share	$ 0.01
Investments accounted for using equity method	$ 24,000
Investment description	The Company’s initial investment also included Premium Nickel issuing the Company a non-transferable share purchase warrant (the “Warrant”), which entitles the Company to purchase common shares of Premium Nickel, for up to 15% of the capital of Premium Nickel upon payment of US $10 million prior to the fifth anniversary of the date of issue.
Assets	$ 16,423,840
Profit (loss)	1,343,634
Memorandum of Understanding [Member] | Premium Nickel Resources [Member] | Common Shares [Member]
IfrsStatementLineItems [Line Items]
Number of units subscribed			4,657,711
Investments accounted for using equity method			$ 154,164		$ 441,446
Proportion of ownership interest in subsidiary			11.01%
Service Agreement [Member] | Premium Nickel Resources [Member]
IfrsStatementLineItems [Line Items]
Investments accounted for using equity method	$ 320,367	162,587
Investment description	The Company will charge Premium Nickel for expenses incurred and has the right to charge a 2% administrative fee on third party expenses. The Company will invoice Premium Nickel on a monthly basis and payment shall be made by Premium Nickel no later than 15 days after receipt of such invoice. The term of the Service Agreement is for an initial period of 3 years and can be renewed for an additional 1 year period. The Service Agreement can be terminated within 30 days notice, for non-performance, by the Company giving 6 months notice or Premium Nickel within 90 days provided the Company no longer owns at least 10% of the outstanding common shares of Premium Nickel.
Professional fees expense	$ 473,797	161,639
Administrative expenses	8,650
Amounts receivable, related party transactions	1,622,575	$ 75,725
Promissory Note [Member] | Premium Nickel Resources [Member]
IfrsStatementLineItems [Line Items]
Investments accounted for using equity method	$ 1,270,000

SCHEDULE OF KEY MANAGEMENT COMP

SCHEDULE OF KEY MANAGEMENT COMPENSATION (Details) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Management fees – expensed	$ 163	$ 183
Share-based payments		621
Total	$ 163	$ 804

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	Mar. 31, 2022shares
Sentient [Member]
IfrsStatementLineItems [Line Items]
Number of common shares beneficially owned	36,980,982
Number of common shares beneficially owned, percentage	33.66%
Contemporary Amperex Technology Limited [Member]
IfrsStatementLineItems [Line Items]
Number of common shares beneficially owned	22,944,444
Number of common shares beneficially owned, percentage	20.89%

SCHEDULE OF CHANGES IN WORKING

SCHEDULE OF CHANGES IN WORKING CAPITAL (Details) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Information
(Increase) in due from related party	$ (154)	$ (22)
(Increase) in prepaid expenses	(9)	(15)
(increase) in Sales tax receivable and deferred RTO expense	(198)	(5)
Increase in trade payables and accrued liabilities	270	159
Total changes in working capital	$ (91)	$ 117

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details Narrative) - CAD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Supplemental Cash Flow Information
Amount transferred from reserve to deficit	$ 44,144	$ 97,953
Amount reserve to common share capital	138,662	242,901
Restoration obligation	$ 86,569	5,568
Advance to investment		$ 50,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - CAD ($)	Jan. 02, 2020	Jul. 01, 2014	Mar. 31, 2022	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Management fees, per month	$ 19,106			$ 30,951
Agreement termination period from the date of effective control change			60 days
Payment period			30 days
Independent Directors [Member]
IfrsStatementLineItems [Line Items]
Director fees, stipend per month		$ 2,000
Chairman of Board [Member]
IfrsStatementLineItems [Line Items]
Director fees, stipend per month		3,000
Committee Chairmen [Member]
IfrsStatementLineItems [Line Items]
Director fees, stipend per month		$ 2,500

SCHEDULE OF GEOGRAPHIC SEGMENTS

SCHEDULE OF GEOGRAPHIC SEGMENTS (Details) - CAD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Equipment	$ 15	$ 16
Exploration and evaluation assets	39,174	39,099
CA [Member]
IfrsStatementLineItems [Line Items]
Equipment	4	4
Exploration and evaluation assets	2,517	2,495
GL [Member]
IfrsStatementLineItems [Line Items]
Equipment	11	12
Exploration and evaluation assets	$ 36,657	$ 36,604

SCHEDULE OF GENERAL AND ADMINIS

SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES (Details) - CAD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Consulting fees	$ 57	$ 76
Filing fees	11	14
General office expenses	31	17
Investor relations	28	16
Management fees	93	126
Professional fees	21	13
Total	$ 241	$ 262

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details Narrative)	3 Months Ended
	Mar. 31, 2022Integer
Number of reportable operating segments	1
Number of geographic segments	2

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - CAD ($)	Apr. 28, 2022	Apr. 08, 2022	Apr. 02, 2022	Mar. 03, 2022	Dec. 31, 2021	Mar. 31, 2022	Apr. 20, 2021
IfrsStatementLineItems [Line Items]
Borrowings				$ 1,000,000
Borrowings, maturity				April 30, 2022
Borrowings, interest rate				10.00%
Percentage of lender fee				3.00%
Price per share							$ 0.24
Number of shares issued						2,665,404
Proceeds from exercise of options					$ 112,000
Disposal of major subsidiary [member] | Paradigm Capital Inc [Member]
IfrsStatementLineItems [Line Items]
Total gross proceeds		$ 10,000,320	$ 5,000,000
Price per share			$ 0.48
Non-adjusting Events After Reporting Period [Member] | Agency Agreement [Member]
IfrsStatementLineItems [Line Items]
Price per share	$ 0.48
Number of shares issued	21,118,000
Proceeds from exercise of options	$ 10,136,640