Premium Resources (PRMLF) 6-K 1 Sep 22 Current report (foreign) Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-14740
Entity Registrant Name	Premium Nickel Resources Ltd.
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	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 1,321	$ 1,973
Receivables and other current assets	1,033	75
Due from related party	280	199
TOTAL CURRENT ASSETS	2,634	2,247
NON-CURRENT ASSETS
Equipment	14	16
Exploration and evaluation assets	39,211	39,099
Investment		321
TOTAL NON-CURRENT ASSETS	39,225	39,436
TOTAL ASSETS	41,859	41,683
LIABILITIES
Trade payables and accrued liabilities	1,649	480
TOTAL LIABILITIES	1,649	480
EQUITY
Share capital - preferred	591	591
Share capital – common	93,970	93,451
Reserve	4,051	4,252
Deficit	(58,402)	(57,091)
TOTAL EQUITY	40,210	41,203
TOTAL LIABILITIES AND EQUITY	$ 41,859	$ 41,683

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited) - CAD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
EXPENSES
General and administrative expenses	$ (853)	$ (394)	$ (1,094)	$ (656)
Property investigation	(10)	(3)	(22)	(4)
Amortization	(1)	(1)	(2)	(9)
Share-based payments				(837)
Total expenses	(864)	(398)	(1,118)	(1,506)
OTHER ITEMS
Interest and other income	59		59
Foreign exchange gain (loss)	8	(3)	7	(3)
Equity loss on investment	(186)	(20)	(321)	(37)
Other income (expense), net	(119)	(23)	(255)	(40)
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ (983)	$ (421)	$ (1,373)	$ (1,546)
Basic and diluted weighted average number of common shares outstanding	133,870,031	119,726,930	133,559,330	116,503,880
Basic and diluted loss per share	$ (0.01)	$ 0	$ (0.01)	$ (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				(1,546)	(1,546)
Share capital issued through exercise of warrants	$ 670				670
Share capital issued through exercise of warrants, shares	6,325,019
Share Capital issued through private placement	$ 1,933				1,933
Share capital issued through private placement, shares	8,290,665
Value allocated to warrants	$ (614)		614
Share issue costs	(33)				(33)
Exercised warrants	244		(244)
Share-based payments			837		837
Expired warrants
Forfeited/expired options			(98)	98
Ending balance, value at Jun. 30, 2021	$ 91,827	591	3,205	(54,747)	40,876
Ending balance, shares at Jun. 30, 2021	124,449,332
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
Beginning balance, value at Dec. 31, 2021	$ 93,451	591	4,252	(57,091)	41,203
Beginning balance, shares at Dec. 31, 2021	131,204,627
IfrsStatementLineItems [Line Items]
Net and comprehensive loss				(1,373)	(1,373)
Share capital issued through exercise of warrants	$ 380				380
Share capital issued through exercise of warrants, shares	2,665,404
Value allocated to warrants
Share issue costs
Exercised warrants	139		(139)
Share-based payments
Expired warrants
Forfeited/expired options			(62)	62
Ending balance, value at Jun. 30, 2022	$ 93,970	591	4,051	(58,402)	40,210
Ending balance, shares at Jun. 30, 2022	133,870,031
IfrsStatementLineItems [Line Items]
Net and comprehensive loss					(983)
Share-based payments
Ending balance, value at Jun. 30, 2022	$ 93,970	$ 591	$ 4,051	$ (58,402)	$ 40,210
Ending balance, shares at Jun. 30, 2022	133,870,031

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Loss for the period	$ (1,373)	$ (1,546)
Items not affecting cash:
Amortization	2	9
Share-based payments		837
Interest income	(59)
Equity loss on investment	321	37
Changes in working capital	139	(144)
Net cash used in operating activities	(970)	(807)
INVESTING ACTIVITIES
Expenditures on exploration and evaluation assets	(121)	(84)
Investment		(51)
Interest and other income on loan to PNR	59
Net cash provided by (used in) investing activities	(62)	(135)
FINANCING ACTIVITIES
Proceeds from issuance of common shares		1,933
Proceeds from exercise of warrants and options	380	670
Share issuance costs		(33)
Net cash provided by financing activities	380	2,570
Change in cash for the period	(652)	1,628
Cash, beginning of the period	1,973	308
Cash, end of the period	$ 1,321	$ 1,936

NATURE AND CONTINUANCE OF OPERA

NATURE AND CONTINUANCE OF OPERATIONS	6 Months Ended
	Jun. 30, 2022
Nature And Continuance Of Operations
NATURE AND CONTINUANCE OF OPERATIONS	1. NATURE AND CONTINUANCE OF OPERATIONS North American Nickel Inc. (the “Company” or “NAN”) 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” or “PNR”). 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. COVID-19 has delayed the Company’s ability to conduct major fieldwork on projects. The Company is closely monitoring the impact of the pandemic on all aspects of its business. The condensed Interim consolidated financial statements were approved and authorized for issuance by the Board of Directors of the Company on August 23, 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	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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.

CHANGES IN ACCOUNTING POLICIES

CHANGES IN ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2022 (Expressed in Canadian dollars)

RECEIVABLES AND OTHER CURRENT A

RECEIVABLES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2022
RECEIVABLES AND OTHER CURRENT ASSETS	4. RECEIVABLES AND OTHER CURRENT ASSETS A summary of the receivables and other current assets as of June 30, 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 June 30, 2022 December 31, 2021 Sales taxes receivable 107 22 Prepaid expenses 56 53 Deferred RTO expenses 870 - Total receivables and other current assets 1,033 75

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	6 Months Ended
	Jun. 30, 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 Total Acquisition Balance, December 31, 2021 318 246 5 - 46 615 Acquisition costs – cash 5 4 - - - 9 Impairment - - - - - - Administration - - - - Camp Operations - - - - (95 (95 Drilling - - - - - - Geology - - - - - Geophysics - - - - - Property maintenance - - - - - - Infrastructure - - - - - - Evaluation assets, gross - - - Balance, June 30, 2022 323 250 5 - 46 624 Exploration Balance, December 31, 2021 1,542 265 119 - 36,558 38,484 Administration - - - - 10 10 Drilling - - - - - - Geology 8 7 2 - 40 57 Geophysics - - - - 1 1 Property maintenance - - 3 - 32 35 Infrastructure - - - - - - Impairment - - - - - - Evaluation assets, gross 8 7 5 - 83 103 Balance, June 30, 2022 1,550 272 124 - 36,641 38,587 Total, June 30, 2022 1,873 522 129 - 36,687 39,211 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 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 Halcyon Quetico Lingman Maniitsoq Total Acquisition Balance, December 31, 2020 308 238 42 14 46 648 Beginning balance 308 238 42 14 46 648 Acquisition costs – cash 5 4 - - - 9 Balance, June 30, 2021 313 242 42 14 46 657 Exploration Balance, December 31, 2020 1,529 252 142 13 36,519 38,455 Property maintenance 1 1 1 - 17 20 Administration - - - - 7 7 Camp operations - - - - (95 ) (95 ) Drilling - - - - 21 21 Geology 5 5 10 - 24 44 Geophysics - - 1 - - 1 Evaluation assets, gross 6 6 12 - (26 ) (2 ) Balance, June 30, 2021 1,535 258 154 13 36,493 38,453 Total, June 30, 2021 1,848 500 196 27 36,539 39,110 Ending balance 1,848 500 196 27 36,539 39,110 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 six months period ended June 30, 2022, the Company incurred acquisition and exploration expenditures totalling $ 12,806 10,746 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 six months period ended June 30, 2022, the Company incurred $ 11,806 9,746 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 six months ended June 30, 2022 (Expressed in Canadian dollars) 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. 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. The Company had no minimum required exploration commitment for the years ended December 31, 2021, 2020 and 2019 as two one-year extensions were granted for year 2020 and 2021 as a result of the COVID-19 pandemic. The total annual work requirement for Quetico project after April 26, 2021 is $ 324,000 61,783 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. The work commitment to hold all 809 claim cells was $ 323,600 During the six months period ended June 30, 2022, the Company incurred $ 4,799 11,668 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 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 (December 31, 2020 - $Nil) during the year ended December 31, 2021. As at December 31, 2021, management elected not to proceed with further exploration on the property. Accordingly, all acquisition and exploration related costs were impaired as at December 31, 2021, totalling $ 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 60 At the expiration of the first license period, the Company may apply for a second license period (years 6-10), and the Company may apply for a further 3 3 The Company may terminate the licenses at any time, however any unfulfilled obligations according to the licenses will remain in force, regardless of the termination. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) Future required minimum exploration expenditures will be adjusted each year on the basis of the change to the Danish Consumer Price Index. During the six months period ended June 30, 2022, the Company spent in aggregate of $ 82,527 69,169 During the year ended December 31, 2021, the Company spent in aggregate of $ 133,772 During the year ended December 31, 2020, the Company has recorded a $ 267,000 94,606 IFRS 6 requires management to assess the exploration and evaluation assets for impairment. No facts or circumstances existed at December 31, 2021 and December 31, 2020 to suggest impairment on the Maniitsoq property. The valuation was based on historical drilling results and management’s future exploration plans on the Maniitsoq Property. The Company intends to plan and budget for further exploration on the Maniitsoq Property in the future. Further details on the licenses comprising the Maniitsoq Property and related expenditures are outlined below: Sulussugut License (2011/54) (All references to amounts in Danish Kroners, “DKK”) Effective August 15, 2011, the Company was granted an exploration license (the “Sulussugut License”) by the BMP of Greenland for exclusive exploration rights of an area located near Sulussugut, Greenland. The Company paid a license fee of $ 5,742 31,400 5 7,982 40,400 During the year ended December 31, 2021, the Company received a license extension, which provides for renewal period until December 31, 2022. To December 31, 2015, under the terms of a preliminary license, the Company completed the exploration requirements of an estimated minimum of DKK 83,809,340 15,808,386 26,115,831 56,367,505 The Company had no minimum required exploration commitment for the year ended December 31, 2021 and available credits of DKK 285,866,733 57,026,697 1,921,180 384,236 The credits available from each year may be carried forward for 3 years plus a 2-year extension and expire between December 31, 2022 to December 2024. The Company has no exploration commitment for the 2022 fiscal year. During the six months period ended June 30, 2022, the Company spent a total of $ 67,622 49,445 To December 31, 2021 and 2020, the Company has completed all obligations with respect to required reduction of the area of the license. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) Ininngui License (2012/28) Effective March 4, 2012, the Company was granted an exploration license (the “Ininngui License”) by the BMP of Greenland for exclusive exploration rights of an area located near Ininngui, Greenland. The Company paid a license fee of $ 5,755 32,200 The Ininngui License was valid for an initial 5 years until December 31, 2016, with December 31, 2012 being the first year. The license was extended for a further 5 years, until December 31, 2021, with December 31, 2017 being the first year. During the year ended December 31, 2021, the Company received a license extension, which provides for a renewal period until December 31, 2023. The Ininngui License is contiguous with the Sulussugut License. Should the Company not incur the minimum exploration expenditures on the license in any one year from years 2-5, the Company may pay 50 The Company had no minimum required exploration commitment for the year ended December 31, 2021. As of December 31, 2021, the Company has spent $ 5,221,333 30,515,237 6,087,393 The credits available from each year may be carried forward for 3 years plus a 2-year extension and expire between December 31, 2022 to December 2024. The Company has no exploration commitment for the 2022 fiscal year. During the six months period ended June 30, 2022, the Company spent a total of $ 12,567 14,306 Carbonatite License (2018/21) Effective May 4, 2018, the Company was granted an exploration license (the “Carbonatite License”) by the BMP of Greenland for exclusive exploration rights of an area located near Maniitsoq in West Greenland. The Company paid a license fee of $ 6,523 31,000 The Carbonatite License is valid for 5 years until December 31, 2022, with December 31, 2020 being the third year. During the year ended December 31, 2021, the Company received a license extension, which provides for renewal until December 31, 2024. The Company had no minimum required exploration obligation for the year ended December 31, 2021. As of December 31, 2021, the Company has spent $ 1,511,400 10,577,191 2,110,012 The credit available from each year may be carried forward 3 years plus a 1-year extension and expire between December 31, 2023 to December 2024. During the six months period ended June 30, 2022, the Company spent a total of $ 2,338 5,022 West Greenland Prospecting License (2020/05) On February 18, 2020, the Company was granted new prospective license No. 2020/05, by the BMP of Greenland for a period of 5 years ending December 31, 2024. 4,301 21,900 There were no 396 High Atlas Project in Morocco In 2018, the Company’s geologists identified a project opportunity in the high Atlas Mountains of Morocco. There is no modern geophysical coverage and no drilling on the property. In 2019, the Company signed an MOU with ONHYM (Office National des Hydrocarbons et des Mines), a government entity and single largest current permit holder in Morocco. Through this alliance, the Company was given access to confidential exploration data to develop nickel projects in the High Atlas Region of Morocco. In November and December 2021, the Company lodged applications for five permits in Morocco. In December, four of the five permits were awarded to the Company. An application for a fifth permit was submitted and awarded in February 2022. Work plans were submitted in May 2022. The work obligations are DKK 528,000 65,000 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) During the six months period ended June 30, 2022, the Company spent a total of $ 22,564 4,195 in exploration and license related expenditures on the project and recorded it as property investigation expense in the condensed interim consolidated statements of comprehensive loss.

TRADE PAYABLES AND ACCRUED LIAB

TRADE PAYABLES AND ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2022
TRADE PAYABLES AND ACCRUED LIABILITIES	6. TRADE PAYABLES AND ACCRUED LIABILITIES SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES (All amounts in table are expressed in thousands of Canadian dollars) June 30, 2022 December 31, 2021 Trade payables 1,251 401 Amounts due to related parties (Note 9) 67 33 Accrued liabilities 331 46 Trade payables and accrued liabilities 1,649 480

SHARE CAPITAL, WARRANTS AND OPT

SHARE CAPITAL, WARRANTS AND OPTIONS	6 Months Ended
	Jun. 30, 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 six months period ended June 30, 2022, the Company issued 2,665,404 379,563 2,665,404 6,325,019 669,547 6,325,019 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 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 a share of the Company. on a one-for one basis, upon satisfaction of the Escrow Release Conditions (as defined below), subject to adjustment in certain events. “Escrow Release Conditions” shall mean each of the following conditions, which conditions may be waived in whole or in part jointly by the Company and the Lead Agent: i) receipt of all required corporate, shareholder, regulatory and third-party approvals, if any, required in connection with the Offering and the RTO Transaction; See Note 14 – Subsequent Events; ii) the completion, satisfaction or waiver of all conditions precedent, undertakings, and other matters to be satisfied, completed and otherwise met or prior to the completion of the RTO Transaction (other than delivery of standard closing documentation) have been satisfied or waived in accordance with the definitive agreement relating to the RTO Transaction, to the satisfaction of the Agents acting reasonably (other than the release of the proceeds of the Offering (the “Escrowed Funds”); iii) written confirmation to the Agents from each of the Company and PNR that all conditions of the RTO Transaction have been satisfied or waived, other than release of the Escrowed Funds, and that the RTO Transaction shall be completed without undue delay upon release of the Escrowed Funds; iv) the common shares of the Company being conditionally approved for listing on the TSXV; and v) the Company and the Agents having delivered a joint notice and direction to the Escrow Agent, confirming that the conditions set forth in i) to iv) above have been met or waived. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) 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 As at June 30, 2022, the Company has 133,870,031 124,449,332 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 June 30, 2022 and June 30, 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 six months ended June 30, 2022 (Expressed in Canadian dollars) c) Warrants A summary of common share purchase warrants activity during the six months period ended June 30, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS June 30, 2022 December 31, 2021 Number Outstanding Weighted Average Number Outstanding Weighted Average 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 June 30, 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) 8,871,8171 August 13, 2022* 0.09 0.07 1,076,067 1 August 31, 2022* 0.09 0.00 3,469,537 April 16, 2023 0.35 0.08 13,417,421 0.15 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 * Subsequently, 9,186,012 61,885 (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 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) A summary of option activity under the Plan during the six months period ended June 30, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS June 30, 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 There were no During the six months period ended June 30, 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 June 30, 2022 and 2021 was calculated using the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL June 30, 2022 June 30, 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 June 30, 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 1.03 1,200,000 1,200,000 August 19, 2025 0.09 0.25 2,985,000 2,985,000 February 25, 2026 0.32 0.73 4,993,972 4,993,972 October 25, 2026 0.40 1.44 14,978,972 14,978,972 3.45 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) 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 six months period ended June 30, 2022, the Company transferred $ 61,676 97,953 138,662 244,357 During the six months period ended June 30, 2022, the Company recorded $ Nil 837,444

INVESTMENT IN PREMIUM NICKEL RE

INVESTMENT IN PREMIUM NICKEL RESOURCES INC.	6 Months Ended
	Jun. 30, 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,A private company incorporated in Ontario. 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 June 30, 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 of Premium Nickel, 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 June 30, 2022 was negative net assets of $ 7,170,054 27,630,005 28,687,199 19,712,297 Details of the Company’s investment at June 30, 2022 is as follows: SCHEDULE OF INVESTMENT Investment Balance, December 31, 2021 321 Investment - Share of loss of Premium Nickel (321 ) Total - Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) 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 937,583 844,379 17,212 866,848 793,017 279,880 214,195 On March 3, 2022, Premium Nickel entered into a Promissory Note loan agreement for US$ 1,000,000 10 3 April 30, 2022 1,045,890

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 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) June 30, 2022 December 31, 2021 Directors and officers of the Company 67 28 Related company - 5 Total 67 33 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. The following amount represent amount due from Premium Nickel as well as the investment in this private company, 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) June 30, 2022 December 31, 2021 Due from related party 280 199 Investment - 321 Total 280 520 (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. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) As of June 30, 2022, Sentient beneficially owns 36,980,982 33.66 As of June 30, 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 June 30, 2022 June 30, 2021 Management fees – expensed 327 386 Share-based payments - 621 Total 327 1,007

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Information
SUPPLEMENTAL CASH FLOW INFORMATION	10. SUPPLEMENTAL CASH FLOW INFORMATION Changes in working capital for the year ended June 30, 2022 and 2021 are as follows: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF CHANGES IN WORKING CAPITAL June 30, 2022 June 30, 2021 (Increase) in due from related party (81 ) (171 ) (Increase) in prepaid expenses (3 ) (31 ) (increase) in Sales tax receivable and deferred RTO expenses (955 ) - Increase in trade payables and accrued liabilities 1,178 58 Total changes in working capital 139 (144 ) During the six months period ended June 30, 2022, the Company: i) transferred $ 61,676 ii) Transferred $ 138,662 iii) recorded $ 9,481 During the six months period ended June 30, 2021, the Company: i) transferred $ 97,953 ii) Transferred $ 244,357 iii) recorded $ 96,430 iv) Reclassed $ 50,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 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: Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) i) Directors’ fees: $ 2,000 3,000 2,500 ii) Management fees payable to Keith Morrison under the services agreement referred to below: $ 19,106 30,951 Effective June 1, 2018, the Company changed the terms with Keith Morrison, the CEO, from direct employment to contracted consultant and entered into a services agreement with his company. The services agreement continues until terminated by the Company whether or not for cause, upon the death or disability of Keith Morrison or by Keith Morrison resigning. If there is a change of effective control of the Company, Keith Morrison shall have the right to provide four weeks’ written notice of resignation (the company may request to extend effective resignation up to a maximum on 90 days) during the six-month period following the change of control event, and effective upon resignation Keith Morrison shall be entitled to the fees specified under the agreement for a period of 24 months.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	6 Months Ended
	Jun. 30, 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 June 30, 2022 December 31, 2021 Equipment Canada 4 4 Greenland 10 12 Total 14 16 June 30, 2022 December 31, 2021 Exploration and evaluation assets Canada 2,524 2,495 Greenland 36,687 36,604 Total 39,211 39,099

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES	6 Months Ended
	Jun. 30, 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 June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Consulting fees 560 144 617 220 Filing fees 64 14 75 28 General office expenses 27 35 58 52 Investor relations 58 46 86 62 Management fees 93 135 186 261 Professional fees 51 20 72 33 Total 853 394 1,094 656 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
SUBSEQUENT EVENTS	14. SUBSEQUENT EVENTS On August 3, 2022, Premium Nickel Resources Ltd.(TSXV: PNRL) (formerly, North American Nickel Inc.) (“PNRL” or the “Company”“) announced the closing of its previously-announced “reverse takeover” transaction (the “RTO”) whereby PNR and 1000178269 Ontario Inc., a wholly-owned subsidiary of the Company, amalgamated by way of a triangular amalgamation under the Business Corporations Act (Ontario) (the “Amalgamation”). Transaction Particulars (i) NAN Subco amalgamated with PNR under Section 174 of the OBCA to form one corporation – PNRL, the “Resulting Issuer” (ii) the securityholders of PNR received securities of the Resulting Issuer in exchange for their securities of PNR at an exchange ratio of 1.054 common shares of the Resulting Issuer after giving effect to a 5-to-1 share Consolidation for each outstanding share of PNR (the “Exchange Ratio”), and (iii) the transactions resulted in a RTO of the Company in accordance with the policies of the TSXV, all in the manner contemplated by, and pursuant to, the terms and conditions of the Amalgamation Agreement. upon closing of the RTO, NAN has: (i) changed its name to “Premium Nickel Resources Ltd.”; (ii) changed its stock exchange ticker symbol to “PNRL”; and (iii) reconstituted the board of directors (the “Board Reconstitution”) and management of the Resulting Issuer. The outstanding options of PNR immediately prior to the effective time of the RTO was exchanged and adjusted pursuant to the terms of the Amalgamation Agreement such that holders thereof are entitled to acquire, following the closing of the RTO, options of the Resulting Issuer after giving effect to the Exchange Ratio, as applicable. In connection with the RTO, NAN issued approximately 82,157,579 77,948,368 72.6 23.7 3.7 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) Premium Nickel Resource Ltd. 03/08/2022 SCHEDULE OF NUMBER AND EXERCISE PRICE OF OUTSTANDING SHARE OPTIONS AND WARRANTS # of share outstanding 113,905,949 Shores in escrow 1 (32,670,896 ) Options: # of options Exercise price 24-Feb-2025 1,160,000 $ 0.80 19-Aug-2025 240,000 $ 0.45 25-Feb-2026 597,000 $ 1.60 25-Oct-2026 998,794 $ 2.00 26-Jan-2026 4,743,000 $ 0.39 29-Sep-2026 1,343,850 $ 0.91 20-Jan-2027 2,740,400 $ 2.11 11,823,044 Options in escrow 1 (3,847,100 ) Warrants: 13-Aug-2022 2 1,088,783 $ 0.45 31-Aug-2022 150,000 $ 0.45 16-Apr-2023 693,905 $ 1.75 03-Aug-2024 295,652 $ 2.40 2,228,340 Prefer shares 118,186 13,131 (conversion ratio 9:1) Fully diluted # of shares 127,970,464 Note 1: Certain directors, officers and seed share shareholders of the Company are subject to escrow requirements pursuant to the Policy 5.4 - Escrow, Vendor Considerations and Resale Restrictions of the TSX Venture Exchange (“Exchange Policy 5.4”). Note 2: Subsequently, 1,076,408 of warrants were exercised and 12,375 expired. On Aug 18, 2022 the common shares of PNRL were listed for trading on the TSXV under the symbol “PNRL”. The full particulars of the RTO, the Selebi Project (as defined herein) located in Botswana, which is currently the only material property of the Company, and the business of the Company are described in the Form 3D2 (Information Required in a Filing Statement for a Reverse Takeover or Change of Business) (the “Filing Statement”) prepared in accordance with the policies of the TSXV. A copy of the Filing Statement is available electronically on SEDAR ( www.sedar.com Shareholder Approvals On June 23, 2022, the Company received shareholder approval in respect of, among other things, the reconstitution of the board of directors, the continuance of the Company from under the laws of the province of British Columbia under the Business Corporations Act (British Columbia) to the laws of the province of Ontario under the Business Corporations Act (Ontario) and a change of its name upon completion of the RTO. Further on July 27, the disinterested shareholders of the Company approved the RTO by way of a resolution passed in writing pursuant to the policies of the TSXV. Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) Conversion of Subscription Receipts On August 3, 2022, upon satisfaction of the escrow release condition, 4,223,600 2.40 10,136,640 4,223,600 Management and Board Composition The board of directors of the Company includes Keith Morrison, Charles Riopel, Sheldon Inwentash, John Hick, Sean Whiteford, John Chisholm and William O’Reilly with Charles Riopel as Executive Chairman. Management of the Company includes Keith Morrison (Chief Executive Officer), Mark Fedikow (President), Sarah Wenjia Zhu (Chief Financial Officer and Corporate Secretary). In addition, the technical team of the Company includes Ms. Sharon Taylor (Chief Geophysicist) and Dr. Peter Lightfoot (Consulting Chief Geologist). Select Financial Information The following table sets out certain preliminary pro forma financial information for the Company upon completion of the RTO. The following information should be read in conjunction with, and is qualified in its entirety by, the pro forma financial statements of the Company to be included in Filing Statement, which is available on SEDAR (www.sedar.com) under PNRL’s issuer profile. SCHEDULE OF SELECTED FINANCIAL INFORMATION NAN (as at March 31, 2022) (‘$000) PNR (as at March 31, 2022) (‘$000) Pro (1)(2) (‘$000) Resulting Issuer Pro Forma (‘$000) Select Financial Information NAN (as at March 31, 2022) (‘$000) PNR (as at March 31, 2022) (‘$000) Pro (1)(2) (‘$000) Resulting Issuer Pro Forma (‘$000) Current Assets 2,595 6,300 14,566 23,461 Total Assets 41,970 21,187 67,722 130,879 Current Liabilities 777 5,824 (1) (3,055 ) 3,546 Total Liabilities 777 34,662 (31,742 ) 3,697 Shareholders’ Equity 41,193 (13,476 ) 99,465 127,182 Net Loss 390 23,649 (19,847 ) 4,192 (3) Note: (1) Includes US$ 1.35 1 350,000 (2) The pro forma adjustments include, among other things, the adjustments for the subscription receipt financing of the Company which was completed on April 28, 2022, an advisory fee of $ 420,000 The Selebi Project Following the completion of the RTO, it is anticipated that the Selebi and Selebi North nickel-copper-cobalt (Ni-Cu-Co) mines and related infrastructure (the “Selebi Project”) would be the only material property of the Company for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2022 (Expressed in Canadian dollars) The Selebi Project is located in Botswana and consists of a single mining licence no. 2022/1L (the “Selebi Mining Licence”) covering an area of 11,504 hectares located near the town of Selebi Phikwe, approximately 150 kilometres southeast of the city of Francistown, and 410 kilometres northeast of the national capital Gaborone. The Selebi Mine includes two shafts (Selebi and Selebi North deposits) and related infrastructure (rail, power and water). In accordance with NI 43-101, a technical report for the Selebi Project was filed on SEDAR (www.sedar.com) under PNRL’s issuer profile and a summary of the Selebi Project and work program were included in the Filing Statement. On August 22, 2022, PNRL announced the completion of its acquisition of the nickel, copper, cobalt, platinum-group elements (“Ni-Cu-Co-PGE”) Selkirk Mine in Botswana, together with associated infrastructure and four surrounding prospecting licences formerly operated by Tati Nickel Mining Company (“TNMC”). The acquisition was completed pursuant to the Company’s previously-announced asset purchase agreement with the Liquidator of TNMC on February 14, 2022. With the acquisition now complete, ownership of the Selkirk Mine has been transferred to the Company.

BASIS OF PREPARATION AND SIGN_2

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 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 six months ended June 30, 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.

RECEIVABLES AND OTHER CURRENT_2

RECEIVABLES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS	A summary of the receivables and other current assets as of June 30, 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 June 30, 2022 December 31, 2021 Sales taxes receivable 107 22 Prepaid expenses 56 53 Deferred RTO expenses 870 - Total receivables and other current assets 1,033 75

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	6 Months Ended
	Jun. 30, 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 Total Acquisition Balance, December 31, 2021 318 246 5 - 46 615 Acquisition costs – cash 5 4 - - - 9 Impairment - - - - - - Administration - - - - Camp Operations - - - - (95 (95 Drilling - - - - - - Geology - - - - - Geophysics - - - - - Property maintenance - - - - - - Infrastructure - - - - - - Evaluation assets, gross - - - Balance, June 30, 2022 323 250 5 - 46 624 Exploration Balance, December 31, 2021 1,542 265 119 - 36,558 38,484 Administration - - - - 10 10 Drilling - - - - - - Geology 8 7 2 - 40 57 Geophysics - - - - 1 1 Property maintenance - - 3 - 32 35 Infrastructure - - - - - - Impairment - - - - - - Evaluation assets, gross 8 7 5 - 83 103 Balance, June 30, 2022 1,550 272 124 - 36,641 38,587 Total, June 30, 2022 1,873 522 129 - 36,687 39,211 Notes to the unaudited Condensed Interim Consolidated Financial Statements For the six months ended June 30, 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 Halcyon Quetico Lingman Maniitsoq Total Acquisition Balance, December 31, 2020 308 238 42 14 46 648 Beginning balance 308 238 42 14 46 648 Acquisition costs – cash 5 4 - - - 9 Balance, June 30, 2021 313 242 42 14 46 657 Exploration Balance, December 31, 2020 1,529 252 142 13 36,519 38,455 Property maintenance 1 1 1 - 17 20 Administration - - - - 7 7 Camp operations - - - - (95 ) (95 ) Drilling - - - - 21 21 Geology 5 5 10 - 24 44 Geophysics - - 1 - - 1 Evaluation assets, gross 6 6 12 - (26 ) (2 ) Balance, June 30, 2021 1,535 258 154 13 36,493 38,453 Total, June 30, 2021 1,848 500 196 27 36,539 39,110 Ending balance 1,848 500 196 27 36,539 39,110

TRADE PAYABLES AND ACCRUED LI_2

TRADE PAYABLES AND ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES	SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES (All amounts in table are expressed in thousands of Canadian dollars) June 30, 2022 December 31, 2021 Trade payables 1,251 401 Amounts due to related parties (Note 9) 67 33 Accrued liabilities 331 46 Trade payables and accrued liabilities 1,649 480

SHARE CAPITAL, WARRANTS AND O_2

SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)	6 Months Ended
	Jun. 30, 2022
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS	A summary of common share purchase warrants activity during the six months period ended June 30, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS June 30, 2022 December 31, 2021 Number Outstanding Weighted Average Number Outstanding Weighted Average 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 June 30, 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) 8,871,8171 August 13, 2022* 0.09 0.07 1,076,067 1 August 31, 2022* 0.09 0.00 3,469,537 April 16, 2023 0.35 0.08 13,417,421 0.15 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 * Subsequently, 9,186,012 61,885
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS	A summary of option activity under the Plan during the six months period ended June 30, 2022 is as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS June 30, 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 June 30, 2022 and 2021 was calculated using the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL June 30, 2022 June 30, 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 June 30, 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 1.03 1,200,000 1,200,000 August 19, 2025 0.09 0.25 2,985,000 2,985,000 February 25, 2026 0.32 0.73 4,993,972 4,993,972 October 25, 2026 0.40 1.44 14,978,972 14,978,972 3.45

INVESTMENT IN PREMIUM NICKEL _2

INVESTMENT IN PREMIUM NICKEL RESOURCES INC. (Tables)	6 Months Ended
	Jun. 30, 2022
SCHEDULE OF INVESTMENT	Details of the Company’s investment at June 30, 2022 is as follows: SCHEDULE OF INVESTMENT Investment Balance, December 31, 2021 321 Investment - Share of loss of Premium Nickel (321 ) Total -

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 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) June 30, 2022 December 31, 2021 Directors and officers of the Company 67 28 Related company - 5 Total 67 33 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. The following amount represent amount due from Premium Nickel as well as the investment in this private company, 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) June 30, 2022 December 31, 2021 Due from related party 280 199 Investment - 321 Total 280 520
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 June 30, 2022 June 30, 2021 Management fees – expensed 327 386 Share-based payments - 621 Total 327 1,007

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Information
SCHEDULE OF CHANGES IN WORKING CAPITAL	Changes in working capital for the year ended June 30, 2022 and 2021 are as follows: (All amounts in table are expressed in thousands of Canadian dollars) SCHEDULE OF CHANGES IN WORKING CAPITAL June 30, 2022 June 30, 2021 (Increase) in due from related party (81 ) (171 ) (Increase) in prepaid expenses (3 ) (31 ) (increase) in Sales tax receivable and deferred RTO expenses (955 ) - Increase in trade payables and accrued liabilities 1,178 58 Total changes in working capital 139 (144 )

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2022
SCHEDULE OF GEOGRAPHIC SEGMENTS	SCHEDULE OF GEOGRAPHIC SEGMENTS June 30, 2022 December 31, 2021 Equipment Canada 4 4 Greenland 10 12 Total 14 16 June 30, 2022 December 31, 2021 Exploration and evaluation assets Canada 2,524 2,495 Greenland 36,687 36,604 Total 39,211 39,099

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Three months ended Six months ended June 30, 2022 June 30, 2021 June 30, 2022 June 30, 2021 Consulting fees 560 144 617 220 Filing fees 64 14 75 28 General office expenses 27 35 58 52 Investor relations 58 46 86 62 Management fees 93 135 186 261 Professional fees 51 20 72 33 Total 853 394 1,094 656

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	6 Months Ended
	Jun. 30, 2022
SCHEDULE OF NUMBER AND EXERCISE PRICE OF OUTSTANDING SHARE OPTIONS AND WARRANTS	SCHEDULE OF NUMBER AND EXERCISE PRICE OF OUTSTANDING SHARE OPTIONS AND WARRANTS # of share outstanding 113,905,949 Shores in escrow 1 (32,670,896 ) Options: # of options Exercise price 24-Feb-2025 1,160,000 $ 0.80 19-Aug-2025 240,000 $ 0.45 25-Feb-2026 597,000 $ 1.60 25-Oct-2026 998,794 $ 2.00 26-Jan-2026 4,743,000 $ 0.39 29-Sep-2026 1,343,850 $ 0.91 20-Jan-2027 2,740,400 $ 2.11 11,823,044 Options in escrow 1 (3,847,100 ) Warrants: 13-Aug-2022 2 1,088,783 $ 0.45 31-Aug-2022 150,000 $ 0.45 16-Apr-2023 693,905 $ 1.75 03-Aug-2024 295,652 $ 2.40 2,228,340 Prefer shares 118,186 13,131 (conversion ratio 9:1) Fully diluted # of shares 127,970,464 Note 1: Certain directors, officers and seed share shareholders of the Company are subject to escrow requirements pursuant to the Policy 5.4 - Escrow, Vendor Considerations and Resale Restrictions of the TSX Venture Exchange (“Exchange Policy 5.4”). Note 2: Subsequently, 1,076,408 of warrants were exercised and 12,375 expired.
SCHEDULE OF SELECTED FINANCIAL INFORMATION	SCHEDULE OF SELECTED FINANCIAL INFORMATION NAN (as at March 31, 2022) (‘$000) PNR (as at March 31, 2022) (‘$000) Pro (1)(2) (‘$000) Resulting Issuer Pro Forma (‘$000) Select Financial Information NAN (as at March 31, 2022) (‘$000) PNR (as at March 31, 2022) (‘$000) Pro (1)(2) (‘$000) Resulting Issuer Pro Forma (‘$000) Current Assets 2,595 6,300 14,566 23,461 Total Assets 41,970 21,187 67,722 130,879 Current Liabilities 777 5,824 (1) (3,055 ) 3,546 Total Liabilities 777 34,662 (31,742 ) 3,697 Shareholders’ Equity 41,193 (13,476 ) 99,465 127,182 Net Loss 390 23,649 (19,847 ) 4,192 (3) Note: (1) Includes US$ 1.35 1 350,000 (2) The pro forma adjustments include, among other things, the adjustments for the subscription receipt financing of the Company which was completed on April 28, 2022, an advisory fee of $ 420,000

SCHEDULE OF RECEIVABLES AND OTH

SCHEDULE OF RECEIVABLES AND OTHER CURRENT ASSETS (Details) - CAD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Sales taxes receivable	$ 107	$ 22
Prepaid expenses	56	53
Deferred RTO expenses	870
Total receivables and other current assets	$ 1,033	$ 75

SCHEDULE OF EXPLORATION AND EVA

SCHEDULE OF EXPLORATION AND EVALUATION ASSETS (Details) - CAD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
IfrsStatementLineItems [Line Items]
Ending balance	$ 39,211	$ 39,110
Post Creek Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Ending balance	1,873	1,848
Halcyon Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Ending balance	522	500
Quetico Claims [Member] | CANADA
IfrsStatementLineItems [Line Items]
Ending balance		196
Quetico Claims [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Ending balance	129
Lingman Lake [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Ending balance		27
Maniitsoq Property [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Ending balance	36,687	36,539
Exploration and Evaluation Assets Arising from Acquisition [Member]
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	615	648
Acquisition costs – cash	9	9
Impairment
Drilling
Geophysics
Property maintenance
Infrastructure
Ending balance	624	657
Exploration and Evaluation Assets Arising from Acquisition [Member] | Post Creek Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	318	308
Acquisition costs – cash	5	5
Impairment
Administration
Drilling
Geology
Geophysics
Property maintenance
Infrastructure
Evaluation assets, gross
Ending balance	323	313
Exploration and Evaluation Assets Arising from Acquisition [Member] | Halcyon Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	246	238
Acquisition costs – cash	4	4
Impairment
Administration
Drilling
Geology
Property maintenance
Infrastructure
Ending balance	250	242
Exploration and Evaluation Assets Arising from Acquisition [Member] | Quetico Claims [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020		42
Acquisition costs – cash
Ending balance		42
Exploration and Evaluation Assets Arising from Acquisition [Member] | Quetico Claims [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	5
Acquisition costs – cash
Impairment
Administration
Drilling
Geology
Geophysics
Property maintenance
Infrastructure
Evaluation assets, gross
Ending balance	5
Exploration and Evaluation Assets Arising from Acquisition [Member] | Lingman Lake [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020		14
Acquisition costs – cash
Impairment
Administration
Drilling
Geology
Geophysics
Property maintenance
Infrastructure
Evaluation assets, gross
Ending balance		14
Exploration and Evaluation Assets Arising from Acquisition [Member] | Maniitsoq Property [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	46	46
Acquisition costs – cash
Impairment
Drilling
Geology
Geophysics
Property maintenance
Infrastructure
Ending balance	46	46
Exploration and Evaluation Assets Arising from Exploration [Member]
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	38,484	38,455
Impairment
Administration	10	7
Camp operations		(95)
Drilling		21
Geology	57	44
Geophysics	1	1
Property maintenance	35	20
Infrastructure
Evaluation assets, gross	103	(2)
Ending balance	38,587	38,453
Exploration and Evaluation Assets Arising from Exploration [Member] | Post Creek Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	1,542	1,529
Impairment
Administration
Camp operations
Drilling
Geology	8	5
Geophysics
Property maintenance		1
Infrastructure
Evaluation assets, gross	8	6
Ending balance	1,550	1,535
Exploration and Evaluation Assets Arising from Exploration [Member] | Halcyon Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	265	252
Impairment
Administration
Camp operations
Drilling
Geology	7	5
Geophysics
Property maintenance		1
Infrastructure
Evaluation assets, gross	7	6
Ending balance	272	258
Exploration and Evaluation Assets Arising from Exploration [Member] | Quetico Claims [Member] | CANADA
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020		142
Administration
Camp operations
Drilling
Geology		10
Geophysics		1
Property maintenance		1
Evaluation assets, gross		12
Ending balance		154
Exploration and Evaluation Assets Arising from Exploration [Member] | Quetico Claims [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	119
Impairment
Administration
Camp operations
Drilling
Geology	2
Geophysics
Property maintenance	3
Infrastructure
Evaluation assets, gross	5
Ending balance	124
Exploration and Evaluation Assets Arising from Exploration [Member] | Lingman Lake [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020		13
Impairment
Administration
Camp operations
Drilling
Geology
Geophysics
Property maintenance
Infrastructure
Evaluation assets, gross
Ending balance		13
Exploration and Evaluation Assets Arising from Exploration [Member] | Maniitsoq Property [Member] | GREENLAND
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	36,558	36,519
Impairment
Administration	10	7
Camp operations		(95)
Drilling		21
Geology	40	24
Geophysics	1
Property maintenance	32	17
Infrastructure
Evaluation assets, gross	83	(26)
Ending balance	$ 36,641	$ 36,493

SUMMARY OF TRADE PAYABLES AND A

SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Trade payables	$ 1,251	$ 401
Amounts due to related parties (Note 9)	67	33
Accrued liabilities	331	46
Trade payables and accrued liabilities	$ 1,649	$ 480

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details Narrative)

1 Months Ended

6 Months Ended

12 Months Ended

18 Months Ended

48 Months Ended

Apr. 26, 2021 CAD ($)

Feb. 18, 2020 DKK (kr)

Feb. 18, 2020 CAD ($)

May 04, 2018 DKK (kr)

May 04, 2018 CAD ($)

Apr. 11, 2016

Aug. 01, 2015 CAD ($)

Mar. 04, 2012 DKK (kr)

Mar. 04, 2012 CAD ($)

Aug. 15, 2011 DKK (kr)

Aug. 15, 2011 CAD ($)

May 31, 2022 CAD ($)

Apr. 30, 2022 CAD ($)

Jun. 30, 2022 DKK (kr)

Jun. 30, 2022 CAD ($)

Jun. 30, 2021 CAD ($)

Dec. 31, 2021 DKK (kr)

Dec. 31, 2021 CAD ($)

Dec. 31, 2020 CAD ($)

Dec. 31, 2016 DKK (kr)

Dec. 31, 2016 CAD ($)

Dec. 31, 2015 CAD ($)

Jun. 30, 2022

Dec. 31, 2015 DKK (kr)

Dec. 31, 2015 CAD ($)

Jun. 04, 2021 CAD ($)

IfrsStatementLineItems [Line Items]

Total expenditure

$ 61,783

Restoration obligations

$ 9,481

$ 96,430

Property investigation expense

22,564

4,195

Post Creek Property [Member]

IfrsStatementLineItems [Line Items]

Advances payable annually on net smelter return royalties

$ 10,000

Exploration related cost

5,000

5,000

Exploration and license related expenditure

12,806

10,746

Halcyon Property [Member]

IfrsStatementLineItems [Line Items]

Advances payable annually on net smelter return royalties

$ 8,000

Exploration related cost

4,000

4,000

Exploration and license related expenditure

11,806

9,746

Quetico Property [Member]

IfrsStatementLineItems [Line Items]

Exploration and license related expenditure

$ 4,799

11,668

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.

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]

Work commitment amount

$ 324,000

$ 323,600

$ 323,600

Lingman Lake Property [Member]

IfrsStatementLineItems [Line Items]

Purchase of exploration and evaluations assets impaired

27,657

Maniitsoq Property [Member]

IfrsStatementLineItems [Line Items]

Exploration and license related expenditure

$ 82,527

69,169

133,772

Percentage of net smelter return royalties

2.50%

2.50%

Percentage of net smelter return royalties after reduction

1%

1%

Payment required to reduce net smelter return royalties

$ 2,000,000

Number of days from decision to commence commercial production to reduce net smelter return royalties

60 days

License period, description

At the expiration of the first license period, the Company may apply for a second license period (years 6-10), and the Company may apply for a further 3-year license for years 11 to 13. Thereafter, the Company may apply for additional 3-year licenses for years 14 to 16, 17 to 19 and 20 to 22. The Company will be required to pay additional license fees and will be obligated to incur minimum eligible exploration expenses for such years.

Period of additional license application after year 13

3 years

Period of additional license application for years 11-13

3 years

Restoration obligations

$ 267,000

Reversal of excess provision

94,606

Sulussugut License [Member]

IfrsStatementLineItems [Line Items]

Exploration related cost

$ 56,367,505

$ 26,115,831

Exploration and license related expenditure

67,622

49,445

License period, description

The credits available from each year may be carried forward for 3 years plus a 2-year extension and expire between December 31, 2022 to December 2024. The Company has no exploration commitment for the 2022 fiscal year.

The credits available from each year may be carried forward for 3 years plus a 2-year extension and expire between December 31, 2022 to December 2024. The Company has no exploration commitment for the 2022 fiscal year.

License fee paid

kr 31,400

$ 5,742

kr 40,400

$ 7,982

Period of additional license application after first period

5 years

Exploration requirement

kr 83,809,340

$ 15,808,386

Amount of license carried credits

kr 285,866,733

$ 57,026,697

Approved exploration expenditures

1,921,180

384,236

Ininngui License [Member]

IfrsStatementLineItems [Line Items]

Exploration related cost

5,221,333

Exploration and license related expenditure

$ 12,567

14,306

License period, description

The Ininngui License was valid for an initial 5 years until December 31, 2016, with December 31, 2012 being the first year. The license was extended for a further 5 years, until December 31, 2021, with December 31, 2017 being the first year. During the year ended December 31, 2021, the Company received a license extension, which provides for a renewal period until December 31, 2023.

The Ininngui License was valid for an initial 5 years until December 31, 2016, with December 31, 2012 being the first year. The license was extended for a further 5 years, until December 31, 2021, with December 31, 2017 being the first year. During the year ended December 31, 2021, the Company received a license extension, which provides for a renewal period until December 31, 2023.

The credits available from each year may be carried forward for 3 years plus a 2-year extension and expire between December 31, 2022 to December 2024. The Company has no exploration commitment for the 2022 fiscal year.

The credits available from each year may be carried forward for 3 years plus a 2-year extension and expire between December 31, 2022 to December 2024. The Company has no exploration commitment for the 2022 fiscal year.

License fee paid

kr 32,200

$ 5,755

Amount of license carried credits

kr 30,515,237

6,087,393

Minimum exploration expenditures and actual spend on exploration costs payable in cash, description

the minimum exploration expenditures on the license in any one year from years 2-5, the Company may pay 50% of the difference in cash to BMP as full compensation for that year. This procedure may not be used for more than 2 consecutive calendar years and as at December 31, 2021, the Company has not used the procedure for the license.

the minimum exploration expenditures on the license in any one year from years 2-5, the Company may pay 50% of the difference in cash to BMP as full compensation for that year. This procedure may not be used for more than 2 consecutive calendar years and as at December 31, 2021, the Company has not used the procedure for the license.

Percentage of difference between minimum exploration expenditures and actual spend on exploration costs payable in cash

50%

50%

Carbonatite License [Member]

IfrsStatementLineItems [Line Items]

Exploration related cost

$ 1,511,400

Exploration and license related expenditure

$ 2,338

5,022

License period, description

The Carbonatite License is valid for 5 years until December 31, 2022, with December 31, 2020 being the third year. During the year ended December 31, 2021, the Company received a license extension, which provides for renewal until December 31, 2024.

The Carbonatite License is valid for 5 years until December 31, 2022, with December 31, 2020 being the third year. During the year ended December 31, 2021, the Company received a license extension, which provides for renewal until December 31, 2024.

The credit available from each year may be carried forward 3 years plus a 1-year extension and expire between December 31, 2023 to December 2024.

The credit available from each year may be carried forward 3 years plus a 1-year extension and expire between December 31, 2023 to December 2024.

License fee paid

kr 31,000

$ 6,523

Amount of license carried credits

kr 10,577,191

$ 2,110,012

West Greenland Prospecting License [Member]

IfrsStatementLineItems [Line Items]

Exploration related cost

0

$ 396

License period, description

the Company was granted new prospective license No. 2020/05, by the BMP of Greenland for a period of 5 years ending December 31, 2024.

the Company was granted new prospective license No. 2020/05, by the BMP of Greenland for a period of 5 years ending December 31, 2024.

License fee paid

kr 21,900

$ 4,301

High Atlas Project In Morocco [Member]

IfrsStatementLineItems [Line Items]

License fee paid

kr 528,000

$ 65,000

SCHEDULE OF NUMBER AND WEIGHTED

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Reserve Quantities [Line Items]
Number outstanding, Exercised	9,186,012
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)	6 Months Ended
	Jun. 30, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Warrants outstanding | shares	13,417,421
Exercise price | $ / shares	$ 9
Weighted average remaining contractual life (years)	1 month 24 days
Warrants Expiring August 13, 2022 [Member]
IfrsStatementLineItems [Line Items]
Warrants outstanding | shares	88,718,171	[1]
Exercise price | $ / shares	$ 0.09
Weighted average remaining contractual life (years)	25 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)	0 years
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)	29 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)	6 Months Ended
	Jun. 30, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Exercise price of warrant | $ / shares	$ 9
Number of warrants exercised | shares	9,186,012
Number of warrants expired | shares	61,885
Warrants [Member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant | $ / shares	$ 0.12
Trading days	10 days

SCHEDULE OF NUMBER AND WEIGHT_4

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS (Details)	6 Months Ended		12 Months Ended
	Jun. 30, 2022 shares $ / shares	Jun. 30, 2021 shares	Dec. 31, 2021 shares $ / shares	Dec. 31, 2020 shares
IfrsStatementLineItems [Line Items]
Number outstanding, Exercised			500,000	0
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	7,978,725
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)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Expected dividend yield		0%
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]	6 Months Ended
	Jun. 30, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Options outstanding	14,978,972
Options exercisable	14,978,972
Weighted average remaining contractual life (years)	3 years 5 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 10 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
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)	8 months 23 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 5 months 8 days

SHARE CAPITAL, WARRANTS AND O_3

SHARE CAPITAL, WARRANTS AND OPTIONS (Details Narrative)					3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 28, 2022 CAD ($) $ / shares shares	Apr. 08, 2022 CAD ($)	Apr. 02, 2022 CAD ($) $ / shares	Apr. 20, 2021 CAD ($) $ / shares shares	Jun. 30, 2022 CAD ($) $ / shares shares	Jun. 30, 2021 CAD ($) $ / shares shares	Jun. 30, 2022 CAD ($) shares $ / shares	Jun. 30, 2021 CAD ($) shares $ / shares	Dec. 31, 2021 CAD ($) shares $ / shares	Dec. 31, 2020 shares
IfrsStatementLineItems [Line Items]
Number of shares issued					2,665,404		2,665,404
Proceeds from exercise of warrants | $									$ 12,580,314
Number of warrants exercised							9,186,012
Share capital issued through exercise of warrants									13,080,314
Proceeds from private placements | $	$ 10,136,640	$ 10,000,320	$ 5,000,000	$ 1,989,760
Par value per share | $ / shares	$ 0.48		$ 0.48	$ 0.24
Issuance of subscription receipts units	21,118,000
Proceeds from exercise of warrants and options | $							$ 380,000	$ 670,000
Proceeds from exercise of options | $									$ 112,000
Number of stock option exercised									500,000	0
Warrants exercised										0
Issuance of private placement units				8,290,665
Expected dividend as percentage, share options granted								0%
Risk free interest rate, share options granted								0.93%
Expected volatility, share options granted								127.83%
Exercise price of warrant | $ / shares					$ 9		$ 9
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	244,357
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
Stock options exercisable price per share | $ / shares						$ 0.32		$ 0.32
Share based payment expense | $								$ 837,444	$ 2,530,706
Weighted average fair value of options granted | $ / shares									$ 0.31
Stock Option Plan [Member] | Options One [Member]
IfrsStatementLineItems [Line Items]
Number of stock option exercised									3,185,000
Stock options exercisable price per share | $ / shares									$ 0.32
Stock Option Plan [Member] | Options Two [Member]
IfrsStatementLineItems [Line Items]
Number of stock option exercised									4,993,972
Stock options exercisable price per share | $ / shares									$ 0.40
Top of range [member]
IfrsStatementLineItems [Line Items]
Percentage of beneficially owns, issued and outstanding							10%
Period of options granted							10 years
Private Placements [Member]
IfrsStatementLineItems [Line Items]
Fair value of warrants issued | $					464,493		$ 464,493
Agents [Member]
IfrsStatementLineItems [Line Items]
Fair value of warrants issued | $					$ 30,735		$ 30,735
Non Brokered Private Placement [Member]
IfrsStatementLineItems [Line Items]
Expected life							1 year 6 months
Expected dividend as percentage, share options granted							0%
Risk free interest rate, share options granted							0.29%
Expected volatility, share options granted							132%
Ordinary shares [member]
IfrsStatementLineItems [Line Items]
Number of shares issued					133,870,031	124,449,332	133,870,031	124,449,332	131,204,627	109,833,648
Proceeds from exercise of warrants | $							$ 379,563	$ 669,547
Number of warrants exercised							2,665,404	6,325,019
Share capital issued through exercise of warrants							2,665,404	6,325,019
Number of shares outstanding					133,870,031	124,449,332	133,870,031	124,449,332	131,204,627	109,833,648
Proceeds from exercise of warrants and options | $									$ 1,641,675
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		100,000,000
Series 1 Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares outstanding					590,931	590,931	590,931	590,931

SCHEDULE OF INVESTMENT (Details

SCHEDULE OF INVESTMENT (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 CAD ($)
Balance, December 31, 2020	$ 321
Investment
Share of loss of Premium Nickel	(321)
Total

SCHEDULE OF AMOUNTS DUE TO RELA

SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total	$ 67	$ 33
Due from related party	280	199
Investment		321
Total	280	520
Directors and Officers Company [Member]
IfrsStatementLineItems [Line Items]
Total	67	28
Related Company [Member]
IfrsStatementLineItems [Line Items]
Total		$ 5

INVESTMENT IN PREMIUM NICKEL _3

INVESTMENT IN PREMIUM NICKEL RESOURCES INC. (Details Narrative)				3 Months Ended			6 Months Ended		12 Months Ended	19 Months Ended
	May 06, 2022 USD ($)	Mar. 03, 2022 USD ($)	Jan. 02, 2020 CAD ($)	Jun. 30, 2022 CAD ($) $ / shares	Mar. 31, 2022 CAD ($)	Jun. 30, 2021 CAD ($)	Jun. 30, 2022 CAD ($) $ / shares shares	Jun. 30, 2021 CAD ($)	Dec. 31, 2020 CAD ($) shares	Dec. 31, 2019 CAD ($)	Apr. 28, 2022 $ / shares	Apr. 02, 2022 $ / shares	Dec. 31, 2021 CAD ($)	Apr. 20, 2021 $ / shares
IfrsStatementLineItems [Line Items]
Par value per share | $ / shares											$ 0.48	$ 0.48		$ 0.24
Assets				$ 41,859,000			$ 41,859,000						$ 41,683,000
Profit (loss)				(983,000)		$ (421,000)	(1,373,000)	$ (1,546,000)
Warrant liability				28,687,199			28,687,199
Revaluation loss				19,712,297			19,712,297
Professional fees expense			$ 19,106	51,000		20,000	72,000	33,000		$ 30,951
Administrative expenses				27,000		35,000	58,000	52,000
Amounts receivable, related party transactions				$ 280,000			$ 280,000						$ 199,000
Borrowings		$ 1,000,000
Borrowings, interest rate		10%
Percentage of lender fee		3%
Borrowings, maturity		April 30, 2022
Repayment of promissory note	$ 1,045,890
Premium Nickel Resources [Member]
IfrsStatementLineItems [Line Items]
Percentage of voting equity interests acquired													10%
Assets					$ 21,187,000
Profit (loss)					$ 23,649,000
Memorandum of Understanding [Member] | Premium Nickel Resources [Member]
IfrsStatementLineItems [Line Items]
Number of units subscribed | shares							2,400,000
Par value per share | $ / shares				$ 0.01			$ 0.01
Investments accounted for using equity method				$ 24,000			$ 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				7,170,054			$ 7,170,054
Profit (loss)							27,630,005
Memorandum of Understanding [Member] | Premium Nickel Resources [Member] | Common Shares [Member]
IfrsStatementLineItems [Line Items]
Number of units subscribed | shares									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				866,848		793,017	$ 866,848	793,017
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							$ 937,583	844,379
Administrative expenses							17,212
Amounts receivable, related party transactions				$ 279,880		$ 214,195	$ 279,880	$ 214,195

SCHEDULE OF KEY MANAGEMENT COMP

SCHEDULE OF KEY MANAGEMENT COMPENSATION (Details) - CAD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Management fees – expensed	$ 327	$ 386
Share-based payments		621
Total	$ 327	$ 1,007

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	Jun. 30, 2022 shares
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	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Supplemental Cash Flow Information
(Increase) in due from related party	$ (81)	$ (171)
(Increase) in prepaid expenses	(3)	(31)
(increase) in Sales tax receivable and deferred RTO expenses	(955)
Increase in trade payables and accrued liabilities	1,178	58
Total changes in working capital	$ 139	$ (144)

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details Narrative) - CAD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Supplemental Cash Flow Information
Amount transferred from reserve to deficit	$ 61,676	$ 97,953
Amount reserve to common share capital	138,662	244,357
Restoration obligation	$ 9,481	96,430
Advance to investment		$ 50,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - CAD ($)			3 Months Ended		6 Months Ended		19 Months Ended
	Jan. 02, 2020	Jul. 01, 2014	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Management fees, per month	$ 19,106		$ 51,000	$ 20,000	$ 72,000	$ 33,000	$ 30,951
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	Jun. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Equipment	$ 14	$ 16
Exploration and evaluation assets	39,211	39,099
CANADA
IfrsStatementLineItems [Line Items]
Equipment	4	4
Exploration and evaluation assets	2,524	2,495
GREENLAND
IfrsStatementLineItems [Line Items]
Equipment	10	12
Exploration and evaluation assets	$ 36,687	$ 36,604

SCHEDULE OF GENERAL AND ADMINIS

SCHEDULE OF GENERAL AND ADMINISTRATIVE EXPENSES (Details) - CAD ($)		3 Months Ended		6 Months Ended		19 Months Ended
	Jan. 02, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2019
Consulting fees		$ 560,000	$ 144,000	$ 617,000	$ 220,000
Filing fees		64,000	14,000	75,000	28,000
General office expenses		27,000	35,000	58,000	52,000
Investor relations		58,000	46,000	86,000	62,000
Management fees		93,000	135,000	186,000	261,000
Professional fees	$ 19,106	51,000	20,000	72,000	33,000	$ 30,951
Total		$ 853,000	$ 394,000	$ 1,094,000	$ 656,000

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details Narrative)	6 Months Ended
	Jun. 30, 2022 Integer
Number of reportable operating segments	1
Number of geographic segments	2

SCHEDULE OF NUMBER AND EXERCISE

SCHEDULE OF NUMBER AND EXERCISE PRICE OF OUTSTANDING SHARE OPTIONS AND WARRANTS (Details)				3 Months Ended		6 Months Ended		12 Months Ended
		Aug. 03, 2022 shares $ / shares	Aug. 03, 2022 shares $ / shares	Jun. 30, 2022 shares $ / shares	Jun. 30, 2021 shares	Jun. 30, 2022 shares $ / shares	Jun. 30, 2021 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Reserve Quantities [Line Items]
Warrants outstanding				13,417,421		13,417,421
Exercise price of warrant | $ / shares				$ 9		$ 9
Weighted average number of ordinary shares used in calculating basic earnings per share				133,870,031	119,726,930	133,559,330	116,503,880
Exercised						9,186,012
Number of warrants expired						61,885
Warrants Expiring August 13, 2022 [Member]
Reserve Quantities [Line Items]
Warrants outstanding	[1]			88,718,171		88,718,171
Exercise price of warrant | $ / shares				$ 0.09		$ 0.09
Warrants Expiring August 31, 2022 [Member]
Reserve Quantities [Line Items]
Warrants outstanding	[1]			1,076,067		1,076,067
Exercise price of warrant | $ / shares				$ 0.09		$ 0.09
Warrants Expiring April 16, 2023 [Member]
Reserve Quantities [Line Items]
Warrants outstanding				3,469,537		3,469,537
Exercise price of warrant | $ / shares				$ 0.35		$ 0.35
Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Warrants outstanding		2,228,340	2,228,340
Exercised			1,076,408,000
Number of warrants expired			12,375,000
Non-adjusting Events After Reporting Period [Member] | Preference Shares Before Conversion [member]
Reserve Quantities [Line Items]
Number of shares outstanding		118,186	118,186
Non-adjusting Events After Reporting Period [Member] | Preference shares [member]
Reserve Quantities [Line Items]
Number of shares outstanding		13,131	13,131
Non-adjusting Events After Reporting Period [Member] | Warrants Expiring August 13, 2022 [Member]
Reserve Quantities [Line Items]
Warrants outstanding		1,088,783	1,088,783
Exercise price of warrant | $ / shares		$ 0.45	$ 0.45
Non-adjusting Events After Reporting Period [Member] | Warrants Expiring August 31, 2022 [Member]
Reserve Quantities [Line Items]
Warrants outstanding		150,000	150,000
Exercise price of warrant | $ / shares		$ 0.45	$ 0.45
Non-adjusting Events After Reporting Period [Member] | Warrants Expiring April 16, 2023 [Member]
Reserve Quantities [Line Items]
Warrants outstanding		693,905	693,905
Exercise price of warrant | $ / shares		$ 1.75	$ 1.75
Non-adjusting Events After Reporting Period [Member] | Warrants Expiring August 03, 2024 [member]
Reserve Quantities [Line Items]
Warrants outstanding		295,652	295,652
Exercise price of warrant | $ / shares		$ 2.40	$ 2.40
Post-consolidation Basis [Member]
Reserve Quantities [Line Items]
Options outstanding				14,978,972		14,978,972
Warrants outstanding				13,417,421		13,417,421		16,082,825	25,715,742
Exercised						(2,665,404)		(12,580,314)
Post-consolidation Basis [Member] | Options Expiring February 24, 2025 [Member]
Reserve Quantities [Line Items]
Options outstanding				5,800,000		5,800,000
Exercise price of stock option | $ / shares				$ 0.16		$ 0.16
Post-consolidation Basis [Member] | Options Expiring August 19, 2025 [Member]
Reserve Quantities [Line Items]
Options outstanding				1,200,000		1,200,000
Exercise price of stock option | $ / shares				$ 0.09		$ 0.09
Post-consolidation Basis [Member] | Options Expiring February 25, 2026 [Member]
Reserve Quantities [Line Items]
Options outstanding				2,985,000		2,985,000
Exercise price of stock option | $ / shares				$ 0.32		$ 0.32
Post-consolidation Basis [Member] | Options Expiring October 25, 2026 [Member]
Reserve Quantities [Line Items]
Options outstanding				4,993,972		4,993,972
Exercise price of stock option | $ / shares				$ 0.40		$ 0.40
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Number of shares outstanding		113,905,949	113,905,949
Options outstanding		11,823,044	11,823,044
Weighted average number of ordinary shares used in calculating basic earnings per share		127,970,464
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring February 24, 2025 [Member]
Reserve Quantities [Line Items]
Options outstanding		1,160,000	1,160,000
Exercise price of stock option | $ / shares		$ 0.80	$ 0.80
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring August 19, 2025 [Member]
Reserve Quantities [Line Items]
Options outstanding		240,000	240,000
Exercise price of stock option | $ / shares		$ 0.45	$ 0.45
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring February 25, 2026 [Member]
Reserve Quantities [Line Items]
Options outstanding		597,000	597,000
Exercise price of stock option | $ / shares		$ 1.60	$ 1.60
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring October 25, 2026 [Member]
Reserve Quantities [Line Items]
Options outstanding		998,794	998,794
Exercise price of stock option | $ / shares		$ 2	$ 2
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring January 26, 2026 [member]
Reserve Quantities [Line Items]
Options outstanding		4,743,000	4,743,000
Exercise price of stock option | $ / shares		$ 0.39	$ 0.39
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring September 29, 2026 [member]
Reserve Quantities [Line Items]
Options outstanding		1,343,850	1,343,850
Exercise price of stock option | $ / shares		$ 0.91	$ 0.91
Post-consolidation Basis [Member] | Non-adjusting Events After Reporting Period [Member] | Options Expiring January 20, 2027 [member]
Reserve Quantities [Line Items]
Options outstanding		2,740,400	2,740,400
Exercise price of stock option | $ / shares		$ 2.11	$ 2.11
Shores Escrow [member] | Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Number of share outstanding		(32,670,896)	(32,670,896)
Options Escrow [member] | Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Number of share outstanding		(3,847,100)	(3,847,100)
[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 SELECTED FINANCIAL

SCHEDULE OF SELECTED FINANCIAL INFORMATION (Details) - CAD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Reserve Quantities [Line Items]
Current Assets		$ 2,634			$ 2,634		$ 2,247
Total Assets		41,859			41,859		41,683
Total Liabilities		1,649			1,649		480
Shareholders’ Equity		40,210		$ 40,876	40,210	$ 40,876	$ 41,203	$ 39,015
Net and comprehensive loss		$ (983)		$ (421)	$ (1,373)	$ (1,546)
North American Nickel [Member]
Reserve Quantities [Line Items]
Current Assets			$ 2,595
Total Assets			41,970
Current Liabilities			777
Total Liabilities			777
Shareholders’ Equity			41,193
Net and comprehensive loss			390
Premium Nickel Resources [Member]
Reserve Quantities [Line Items]
Current Assets			6,300
Total Assets			21,187
Current Liabilities			5,824
Total Liabilities			34,662
Shareholders’ Equity			(13,476)
Net and comprehensive loss			23,649
Proforma Adjustment [Member]
Reserve Quantities [Line Items]
Current Assets	[1],[2]		14,566
Total Assets	[1],[2]		67,722
Current Liabilities	[1],[2]		(3,055)
Total Liabilities	[1],[2]		(31,742)
Shareholders’ Equity	[1],[2]		99,465
Net and comprehensive loss	[1],[2]		(19,847)
Resulting Issuer Proforma Consolidation [Member]
Reserve Quantities [Line Items]
Current Assets			23,461
Total Assets			130,879
Current Liabilities			3,546
Total Liabilities			3,697
Shareholders’ Equity			127,182
Net and comprehensive loss			$ 4,192
[1]Includes US$ 1.35 1 350,000 420,000

SCHEDULE OF SELECTED FINANCIA_2

SCHEDULE OF SELECTED FINANCIAL INFORMATION (Details) (Parenthetical)	May 31, 2022 USD ($)	Apr. 28, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
Payment for fees	$ 1,350,000
Services expense	1,000,000
Advisory fee		$ 420,000
Aggregated individually immaterial business combinations [member]
IfrsStatementLineItems [Line Items]
Contingent liabilities in business combination	$ 350,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - CAD ($)				12 Months Ended
	Aug. 03, 2022	Aug. 03, 2022	Apr. 28, 2022	Dec. 31, 2021
Reserve Quantities [Line Items]
Issuance of subscription receipts units			21,118,000
Proceeds from exercise of options				$ 112,000
Potential ordinary share transactions [member]
Reserve Quantities [Line Items]
Issuance of subscription receipts units	4,223,600
Stock price	$ 2.40	$ 2.40
Proceeds from exercise of options	$ 10,136,640
Common shares increased	4,223,600
Premium Nickel Resources [Member] | Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Common share issued		82,157,579
Outstanding shares		77,948,368
Premium Nickel Resources [Member] | Non-adjusting Events After Reporting Period [Member] | Common Shares [Member]
Reserve Quantities [Line Items]
Proportion of ownership interest in subsidiary		72.60%
North American Nickel [Member] | Non-adjusting Events After Reporting Period [Member] | Common Shares [Member]
Reserve Quantities [Line Items]
Proportion of ownership interest in subsidiary		23.70%
Subscription receipts ownership interest		3.70%