Premium Resources (PRMLF) 6-K 5 Dec 22 Current report (foreign) Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022
Cover [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
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

Condensed Interim Consolidated

Condensed Interim Consolidated Statements of Financial Position (Unaudited) - CAD ($)	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash	$ 5,756,642	$ 1,990,203
Prepaid expenses	279,332	8,664
Other receivables	778,147	139,630
TOTAL CURRENT ASSETS	6,814,121	2,138,497
NON-CURRENT ASSETS
Exploration and evaluation assets	44,333,421	3,099,926
Property, plant and equipment	897,079
TOTAL NON-CURRENT ASSETS	45,230,500	3,099,926
TOTAL ASSETS	52,044,621	5,238,423
CURRENT LIABILITIES
Trade payables and accrued liabilities	3,773,495	580,486
TOTAL CURRENT LIABILITIES	3,773,495	580,486
NON-CURRENT LIABILITIES
Vehicle financing	172,800
Leave and severance pay provision	114,698
Financial liability – warrant		8,974,901
TOTAL NON-CURRENT LIABILITIES	287,498	8,974,901
TOTAL LIABILITIES	4,060,993	9,555,387
SHAREHOLDERS’ EQUITY (DEFICIENCY)
Share capital – common	124,257,621	7,952,675
Share capital – preferred	38,082
Reserve	17,028,930	1,261,891
Deficit	(91,818,773)	(13,482,624)
Foreign currency translation reserve	(1,522,232)	(48,906)
TOTAL SHAREHOLDERS’ EQUITY (DEFICIENCY)	47,983,628	(4,316,964)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY)	$ 52,044,621	$ 5,238,423

Condensed Interim Consolidate_2

Condensed Interim Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
EXPENSES
Corporate and administration expenses	$ (2,022,206)	$ (97,421)	$ (2,855,559)	$ (265,732)
Management fees	(625,905)	(173,175)	(1,701,211)	(436,626)
Due diligence BCL	(979)	(32,286)	(5,014)	(86,649)
Advisory and consultancy	(77,600)	(69,433)	(571,626)	(110,744)
Depreciation	(882)		(882)
Interest and bank charges	(7,302)	(801)	(15,851)	(2,543)
Share-based payment	(4,183,657)		(6,776,752)	(761,480)
Warrant fair value movement	28,275,255		8,974,901
Net foreign exchange gain (loss)	(33,343)	(3,961)	127,449	(7,209)
TOTAL EXPENSES	21,323,381	(377,077)	(2,824,545)	(1,670,983)
OTHER ITEMS
Interest income (expenses) and other income	3	1,345	(87,131)	1,596
Acquisition loss on RTO	(75,375,567)		(75,375,567)
NET PROFIT (LOSS) FOR THE PERIOD	(54,052,183)	(375,732)	(78,287,243)	(1,669,387)
OTHER COMPREHENSIVE LOSS
Exchange differences on translation of foreign operations	(201,969)	(1,069)	(1,473,326)	(2,607)
TOTAL COMPREHENSIVE PROFIT (LOSS) FOR THE PERIOD	$ (54,254,152)	$ (376,299)	$ (79,760,569)	$ (1,671,994)
Basic income (loss) per share	$ (0.51)	$ 0	$ (0.86)	$ (0.02)
Weighted average number of common shares outstanding - basic	105,842,672	77,529,213	92,836,780	74,581,558
Diluted income (loss) per share	$ (0.50)	$ 0	$ (0.83)	$ (0.02)
Weighted average number of common shares outstanding - diluted	109,582,996	80,275,161	95,623,637	77,093,621

Condensed Interim Consolidate_3

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity (Deficiency) (Unaudited) - CAD ($)	Ordinary shares [member]	Preference shares [member]	Reserve [Member]	Retained earnings [member]	Foreign Currency Translation Reserve [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 1,468,174			$ (4,123,019)		$ (2,654,845)
Beginning balance, shares at Dec. 31, 2020	67,543,995
IfrsStatementLineItems [Line Items]
Net loss for the period				(1,669,387)		(1,669,387)
Share capital issued through private placement	$ 6,771,729					6,771,729
Share capital issued through private placement, shares	12,702,134
Share issue costs	$ (287,228)					(287,228)
Share-based payment			761,480			761,480
Exchange differences on translation of foreign operations					(2,607)	(2,607)
Ending balance at Sep. 30, 2021	$ 7,952,675		761,480	(5,792,406)	(2,607)	(3,419,553)
Ending balance, shares at Sep. 30, 2021	80,246,129
Beginning balance, value at Dec. 31, 2020	$ 1,468,174			(4,123,019)		(2,654,845)
Beginning balance, shares at Dec. 31, 2020	67,543,995
Ending balance at Dec. 31, 2021	$ 7,952,675		1,261,891	(13,482,624)	(48,906)	(4,316,964)
Ending balance, shares at Dec. 31, 2021	80,820,623
IfrsStatementLineItems [Line Items]
Net loss for the period				(78,287,243)		(78,287,243)
Share capital issued through private placement	$ 22,388,599					22,388,599
Share capital issued through private placement, shares	9,418,720
Share issue costs	$ (1,960,977)					(1,960,977)
Share-based payment			6,776,752			6,776,752
Exchange differences on translation of foreign operations				(48,906)	(1,473,326)	(1,522,232)
PNR share exchange
PNR share exchange, shares	(90,239,343)
NAN shares received in exchange of PNR shares
NAN shares received in exchange of PNR shares, shares	82,157,536
Outstanding shares of NAN acquired in RTO	$ 92,070,357	38,082	12,110,855			104,219,294
Outstanding shares of NAN acquired in RTO, shares	31,748,399
Exercise of warrants	$ 569,399					569,399
Exercise of warrants, shares	1,236,408
FV of exercised warrants	$ 3,019,037		(3,019,037)
Exercise of options	$ 117,000					117,000
Exercise of options, shares	300,000
FV of exercised options	$ 101,531		(101,531)
Ending balance at Sep. 30, 2022	$ 124,257,621	$ 38,082	$ 17,028,930	$ (91,818,773)	$ (1,522,232)	$ 47,983,628
Ending balance, shares at Sep. 30, 2022	115,442,343					115,442,343

Condensed Interim Consolidate_4

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES
Net loss for the period	$ (54,052,183)	$ (375,732)	$ (78,287,243)	$ (1,669,387)
Items not affecting cash:
Share-based payment	4,183,657		6,776,752	761,480
Depreciation	882		882
Provision for leave and severance	114,698		114,698
Warrant fair value movement	(28,275,255)		(8,974,901)
Unrealized foreign exchange loss	(250,875)	(1,069)	(1,522,232)	(2,607)
Loss on acquisition	75,375,567		75,375,567
Changes in working capital
Prepaid expenses and other receivables	664,891	(94,127)	(458,664)	(207,584)
Trade payables and accrued expenses	(677,611)	28,463	1,921,168	356,038
Net cash used in operating activities	(2,916,139)	(442,465)	(5,053,973)	(762,060)
INVESTING ACTIVITIES
Property, plant and equipment	(444,937)		(711,049)
Expenditures on exploration and evaluation assets	(5,075,145)	(742,813)	(22,357,735)	(2,093,913)
RTO transaction	11,051,917		11,051,917
Net cash used in investing activities	5,531,835	(742,813)	(12,016,867)	(2,093,913)
FINANCING ACTIVITIES
Proceeds from issuance of common shares	(276,741)	2,481,814	22,111,858	6,252,986
Direct financing costs	(9,502)		(1,960,977)	(287,228)
Proceeds from exercise of warrants and options	686,398		686,398
Net cash provided by financing activities	400,155	2,481,814	20,837,279	5,965,758
Change in cash for the period	3,015,761	1,296,536	3,766,439	3,109,785
Cash at the beginning of the period	2,740,881	1,922,102	1,990,203	108,853
Cash at the end of the period	$ 5,756,642	$ 3,218,638	$ 5,756,642	$ 3,218,638

NATURE OF OPERATIONS AND GOING

NATURE OF OPERATIONS AND GOING CONCERN	9 Months Ended
	Sep. 30, 2022
Nature Of Operations And Going Concern
NATURE OF OPERATIONS AND GOING CONCERN	1. NATURE OF OPERATIONS AND GOING CONCERN Premium Nickel Resources Ltd. (TSXV: PNRL) (formerly, North American Nickel Inc.) is the continuing company after giving effect to the reverse takeover transaction (the “ RTO NAN PNRC NAN Subco Amalgamation Business Corporations Act OBCA Exchange Prior to the RTO, PNRC was a private company existing under the OBCA to evaluate, acquire, improve and reopen, assuming economic feasibility, a combination of certain assets of BCL Limited (“ BCL TNMC In connection with the RTO, the Company was continued under the OBCA and changed its name from “North American Nickel Inc.” to “Premium Nickel Resources Ltd.” The following corporate structure chart sets forth details of the direct and indirect ownership of the principal subsidiaries of the Company. Currently, the Company’s principal business activity is the exploration and development of mineral properties in Botswana through its wholly-owned subsidiaries. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Notes (1) Premium Nickel Resources Proprietary Limited owns the Selebi Mines (as defined below). (2) Premium Nickel Group Proprietary Limited owns the Selkirk mine. The Company has its head and registered office at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, Canada, M5X 1A4. PNRC submitted its indicative offer to the BCL and TNMC liquidators in June 2020 to acquire assets of the former-producing BCL Mining Complex and TNMC operations located in north-eastern Botswana. On February 10, 2021, PNRC was selected as the preferred bidder and on March 22, 2021, PNRC entered into a Memorandum of Understanding providing for a six-month exclusivity period to complete additional work and negotiate the asset purchase agreements. On September 28, 2021, PNRC executed a definitive asset purchase agreement (the “ Selebi APA Selebi Assets Ni-Cu-Co PNRC also negotiated a separate asset purchase agreement to finalize terms for any prioritized assets formerly operated by TNMC. On August 22, 2022, the Company announced the completion of its acquisition of the nickel, copper, cobalt, platinum-group elements (“ Ni-Cu-Co-PGE Selkirk Assets The Company continues to monitor the global COVID-19 developments and is committed to working with health and safety as a priority and in full respect of all government and local COVID-19 protocol requirements. PNRL has developed COVID-19 travel, living and working protocols and is ensuring integration of those protocols with the currently applicable protocols of the Government of Botswana and surrounding communities. Going Concern The Company, being in the exploration and redevelopment stage, is subject to risks and challenges similar to companies in a comparable stage of development. These risks include the challenges of securing adequate capital for exploration, development and operational risks inherent in the mining industry, and global economic and metal price volatility and there is no assurance management will be successful in its endeavors. As at September 30, 2022, the Company had no source of operating cash flows, nor any credit line currently in place. The Company incurred a net loss of $ 78,287,243 1,669,387 These unaudited 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 obtain adequate financing. 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. It is not possible to predict whether financing efforts will be successful or if the Company will attain a profitable level of operation. These uncertainties cast substantial doubt about the Company’s ability to continue as a going concern. These unaudited condensed interim consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities and the reported expenses and comprehensive loss that might be necessary should the Company be unable to continue as a going concern. These adjustments could be material. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) The evaluation properties in which the Company currently has an interest are in pre-revenue exploration stage. As such, the Company is dependent on external financing to fund its activities. In order to carry out the planned due diligence, 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 Financial Statements were approved and authorized for issuance by the Board of Directors of the Company on November 28, 2022. The discussion in the notes to the condensed interim consolidated financial statements is stated in Canadian dollars.

BASIS OF PREPARATION AND SIGNIF

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2022
Basis Of Preparation And Significant Accounting Policies
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 Accounting Standards (“ IAS 34 Interim Financial Reporting (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 condensed interim consolidated financial statements in conformity with IAS 34 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. These areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the condensed interim consolidated financial statements, are disclosed in note 3. Effective August 3, 2022, in connection with the closing of the RTO, the Company completed a consolidation of its common shares on a 5:1 basis, whereby one (1) post-consolidation common share was exchange for every five (5) pre-consolidation common shares (the “ Consolidation All references to share capital, warrants, options and weighted average number of shares outstanding have been adjusted in these Financial Statements to give effect to the RTO and the Consolidation, as if such alterations occurred at the beginning of the earliest period presented herein. (c) Basis of consolidation These Financial Statements are presented on a consolidated basis of the Company and its wholly-owned subsidiaries. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. Effective August 3, 2022, NAN acquired 100 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars)

CRITICAL ACCOUNTING JUDGMENTS,

CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS	9 Months Ended
	Sep. 30, 2022
Critical Accounting Judgments Estimates And Assumptions
CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS	3. CRITICAL ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS The preparation of the condensed interim consolidated financial statements in accordance with International Financial Reporting Accounting Standards (“ IFRSIAS 34 The area involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the condensed interim consolidated financial statements is: Going Concern Condensed interim consolidated financial statements are prepared on a going concern basis unless management either intends to liquidate the Company or has no realistic alternative to do so. Assessment of the Company’s ability to continue as a going concern requires the consideration of all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. This information includes estimates of future cash flows and other factors, the outcome of which is uncertain. When management is aware, in making its assessment, of material uncertainties related to events or conditions that may cast substantial doubt upon the Company’s ability to continue as a going concern those uncertainties are disclosed.

AMALGAMATION

AMALGAMATION	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about business combination [abstract]
AMALGAMATION	4. AMALGAMATION On April 26, 2022, PNRC and NAN entered into a definitive amalgamation agreement (the “ Amalgamation Agreement Transaction Particulars Pursuant to the Amalgamation Agreement: (i) NAN’s subsidiary, NAN Subco, amalgamated with PNRC under Section 174 of the OBCA to form one corporation; (ii) Holders of PNRC shares exchanged their shares at a rate of 1.054 shares of NAN for each share of PNRC (the “ Exchange Ratio (iii) the transactions resulted in an RTO of the Company under the policies of the Exchange, all in the manner contemplated by, and pursuant to, the terms and conditions of the Amalgamation Agreement. In connection with the RTO, NAN has, among other things: (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 and management of the Company. The outstanding options of PNRC immediately prior to the effective time of the RTO were exchanged and adjusted pursuant to the terms of the Amalgamation Agreement such that holders thereof were entitled to acquire, following the closing of the RTO, options of the Company after giving effect to the Exchange Ratio, as applicable. Before the closing of the RTO, NAN owned 7,667,707 Pursuant to the Amalgamation Agreement, the Company issued 82,157,536 77,948,368 72.1 27.9 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Before the closing of the RTO, NAN had 31,748,399 For financial reporting purposes, the Company is considered to be a continuation of PNRC, the legal subsidiary, except with regard to the authorized and issued share capital, which is that of NAN, the legal parent. The consolidated statements of operations and cash flows for the quarter ended September 30, 2022 include the results of operations and cash flows of PNRC for the period from January 1, 2022 to August 3, 2022, and the results of operations and cash flows of both PNRC and NAN for the period from August 3, 2022 to September 30, 2022. The primary reason for the business combination was to create a leading international nickel-copper-cobalt mineral exploration company. With a portfolio of nickel-copper cobalt assets, the Company will have the ability to execute a phased strategy and focus in the short term on developing the Selebi Project in Botswana, its material property. The substance of the transaction is a reverse acquisition of a non-operating company. The transaction does not constitute a business acquisition as the amalgamation does not meet the definition of a business combination under IFRS 3. As a result, the transaction is accounted for as a capital transaction with NAN being identified as the accounting acquiree and the equity consideration being measured at fair value (“ FV The purchase price has been determined based on the number of shares that PNRC would have had to issue on the date of closing to give the owners of NAN the same percentage equity ( 27.9 The costs of the acquisition have been allocated as follows: SUMMARY OF COST OF ACQUISITION NAN’s shares outstanding before RTO 158,741,995 NAN share price ($/share) before RTO $ 0.58 FV of shares transferred $ 92,070,357 FV of options, warrants and agent warrants 12,110,855 FV of preferred shares 38,082 Total FV of consideration transferred $ 104,219,294 Cash $ 11,051,917 Trade and other receivables 450,522 Property, plant and equipment 14,111 Exploration and evaluation assets* 18,875,760 Trade payables and accrued liabilities (1,548,582 ) Net assets acquired 28,843,728 Loss on acquisition 75,375,567 Total Purchase Price $ 104,219,294 * Included in net assets acquired are exploration and evaluation assets, totaling $ 39.2 20.3 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Pursuant to the RTO, an aggregate of 8,827,250 Replacement Options PNRC Options 8,375,000 2,995,794 2,228,340 118,186 13,131 2,995,794 2,228,340 118,186 12 2.3 The trading in common shares of NAN on the Exchange was halted following the announcement of the RTO on February 17, 2022, with the closing share price on the Exchange on that date being $ 0.58 75

OTHER RECEIVABLES

OTHER RECEIVABLES	9 Months Ended
	Sep. 30, 2022
Other Receivables
OTHER RECEIVABLES	5. OTHER RECEIVABLES A summary of the receivables and other current assets as at September 30, 2022 and December 31, 2021 is detailed in the table below: SUMMARY OF RECEIVABLES AND OTHER CURRENT ASSETS September 30, 2022 December 31, 2021 HST paid on purchases 529,656 84,563 VAT paid on purchases 246,777 55,067 Other receivables 1,714 - Total receivables and other current assets 778,147 139,630

EXPLORATION AND EVALUATION ASSE

EXPLORATION AND EVALUATION ASSETS	9 Months Ended
	Sep. 30, 2022
Exploration And Evaluation Assets
EXPLORATION AND EVALUATION ASSETS	6. EXPLORATION AND EVALUATION ASSETS SUMMARY OF EXPLORATION AND EVALUATION ASSETS Selebi Selkirk Maniitsoq Properties Total Botswana Greenland Canada Selebi Selkirk Maniitsoq Properties Total Acquisition Balance, December 31, 2021 - - - - - Acquisition costs 8,970,850 - 16,348,722 2,535,873 27,858,445 Balance, September 30, 2022 8,970,850 - 16,348,722 2,535,873 27,855,445 Exploration Balance, December 31, 2021 3,099,926 - - - 3,099,926 Beginning balance 3,099,926 - - - 3,099,926 Site administration 722,414 - 722,414 Care & Maintenance 3,757,820 - 3,757,820 Geology 1,249,691 78,376 12,520 2,649 1,343,236 Drilling 4,915,069 - 4,915,069 Geophysics 1,229,569 - 1,229,569 Engineering 978,367 - 978,367 ESG 152,999 28,117 181,116 Health and safety 70,944 - 70,944 Utilities - Electricity 179,515 - 179,515 Balance, September 30, 2022 16,356,314 106,493 12,520 2,649 16,477,976 Total, September 30, 2022 25,327,164 106,493 16,361,242 2,538,522 44,333,421 Total, December 31, 2021 3,099,926 - - - 3,099,926 Ending balance 3,099,926 - - - 3,099,926 The following is a description of the Company’s exploration and evaluation assets and the related spending commitments: Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Botswana Assets - Selebi and Selkirk On September 28, 2021, the Company executed the Selebi APA with the BCL liquidator to acquire the Selebi assets and related infrastructure formerly operated by BCL. On January 31, 2022, the Company closed the transaction and ownership of the Selebi Assets transferred to the Company. PNRC also negotiated a separate asset purchase agreement with the liquidator of TNMC to acquire the Selkirk deposit and related infrastructure formerly operated by TNMC on January 20, 2022 and closed the transaction on August 22, 2022. Pursuant to the Selebi APA the aggregate purchase price payable to the seller for the Selebi Assets, shall be the sum of US$ 56,750,000 ● US$ 1,750,000 ● US$ 25,000,000 MMRGTES ● The third instalment of $ 30,000,000 ● Payment of care and maintenance funding contribution in respect of the Selebi Assets for a total of US$ 5,178,747 As per the term and conditions of the Selebi APA, the Company has the option to cancel the second and third payments and give back the Selebi Assets to the liquidator in the event where the exploration program determines that the Selebi Assets are not economical. PNRL also has an option to pay in advance the second and third payments in the event where the exploration program determines that the Selebi Assets are economical. The Company’s accounting policy, as permitted by IAS 16 – Property, Plant and Equipment In addition to the Selebi APA, the purchase of the Selebi Assets is also subject to a contingent compensation agreement as well as a royalty agreement with the liquidator. In regard to the Selkirk Assets, the purchase agreement does not provide for a purchase price or initial payment for the purchase of the assets. The Selkirk purchase agreement provides that if the Company elects to develop Selkirk first, the payment of the second Selebi instalment of US$ 25 30 During the nine months ended September 30, 2022, the Company incurred $ 22,227,238 106,493 3,099,926 Greenland – Maniitsoq Property The Company’s Maniitsoq property in Greenland was owned by NAN prior to the RTO. The Maniitsoq property is subject to a 2.5 NSR 1 2,000,000 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 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) 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. Future required minimum exploration expenditures will be adjusted each year on the basis of the change to the Danish Consumer Price Index. Prior to the closing of the RTO on August 3, 2022, the Maniitsoq property had a book value of $ 36,692,516 20,343,794 16,348,722 From August 3, 2022 to September 30, 2022, the Company spent an additional $ 12,520 The Sulussugut License (2011/54), which was first granted on August 15, 2011 by the Bureau of Minerals and Petroleum (“ BMP 285,866,733 57,026,697 The Ininngui License (2012/28) was first granted by BMP on March 4, 2012 and currently in the second license period. During the year ended December 31, 2021, the Company received a license extension, which provides for a renewal period until December 31, 2023. Total cumulative surplus credit as at December 31, 2021 was DKK 30,515,237 6,087,393 Carbonatite License (2018/21) was granted on May 4, 2018 for exclusive exploration rights of an area located near Maniitsoq in West Greenland. The license is valid for five years until December 31, 2022 and during the year ended December 31, 2021, the Company received a license extension, which provides for renewal until December 31, 2024. The Company has a total surplus credit of DKK 10,577,191 2,110,012 On February 18, 2020, the Company was granted new prospective license No. 2020/05, by the BMP of Greenland for a period of five years ending December 31, 2024. Canada – Post Creek, Halcyon and Quetico Property NAN acquired the rights to Post Creek, Halcyon and Quetico Property within the Sudbury Mining District of Ontario in 2013, 2015, and 2018, respectively. The Company is obligated to pay advances on a NSR royalty of $ 10,000 8,000 The work commitment to hold all 809 claim cells of Quetico was $ 323,600 During the period from August 3, 2022 to September 30, 2022, the Company incurred additional $ 2,649 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) 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 a memorandum of understanding (the “ MOU ONHYM 65,000 In October 2022, the Company and ONHYM decided not to pursue the joint venture discussions that initially set out the general framework of a joint venture for the exploration and consolidation of permits owned by ONHYM in the Imilchil area. The Company intends to continue its work on the five permits it acquired in 2021 in the same region. The exploration and license related expenditures for the project are recorded as property investigation expense in the condensed interim consolidated statements of comprehensive loss. The Company has spent $nil on the project during the period from August 3, 2022 to September 30, 2022.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	7. PROPERTY, PLANT AND EQUIPMENT The table below sets out costs and accumulated amortization as at September 30, 2022: SUMMARY OF PROPERTY, PLANT AND EQUIPMENT Vehicles Furniture Leasehold improvement Buildings Exploration Equipment Computer Equipment and Software Total Cost Balance – December 31, 2021 - - - - - - - Purchases 234,407 19,405 96,231 533,807 883,850 Deemed acquisition from NAN 11,279 1,950 13,229 Balance – September 30, 2022 234,407 19,405 96,231 533,807 11,279 1,950 897,079 Property, Plant and Equipment Equipment is stated at historical cost less accumulated amortization and accumulated impairment losses. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of a significant replaced part is derecognized. All other repairs and maintenance are charged to the condensed interim consolidated statements of comprehensive loss during the financial period in which they are incurred. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized in profit or loss. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Depreciation and amortization are calculated on a straight-line method to charge the cost, less residual value, of the assets to their residual values over their estimated useful lives. The depreciation and amortization rate applicable to each category of equipment is as follows: SUMMARY OF DEPRECIATION AND AMORTIZATION Equipment Depreciation rate 30% Furniture 20% Leasehold improvement 10%

TRADE PAYABLES AND ACCRUED LIAB

TRADE PAYABLES AND ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2022
Trade Payables And Accrued Liabilities
TRADE PAYABLES AND ACCRUED LIABILITIES	8. TRADE PAYABLES AND ACCRUED LIABILITIES SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2022 December 31, 2021 Amounts due to related parties (Note 10) 32,860 225,904 Trade payables 2,060,998 218,456 Accrued liabilities 1,679,637 136,126 Trade payables and accrued liabilities 3,773,495 580,486

SHARE CAPITAL, WARRANTS AND OPT

SHARE CAPITAL, WARRANTS AND OPTIONS	9 Months Ended
	Sep. 30, 2022
Share Capital Warrants And Options
SHARE CAPITAL, WARRANTS AND OPTIONS	9. 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 On August 3, 2022, NAN, NAN Subco and PNRC completed the RTO transaction, whereby shareholders of PNRC exchanged their shares at a rate of 1.054 SCHEDULE OF SHARE CAPITAL Shares Outstanding Share Capital North American Nickel Inc. (post-consolidation basis) December 31, 2020 21,966,730 $ 89,626,730 Share capital issued through private placement 1,658,133 1,989,760 Share issue costs - (89,935 ) Value allocated to warrants - (495,228 ) Exercised options 100,000 112,000 Exercised options fair value - 92,478 Exercised warrants 2,516,063 1,641,674 Exercised warrants fair value - 573,502 31,748,399 28,380,297 Issued pursuant to reverse takeover in exchange for shares of PNRC (Note 4) 82,157,536 92,070,357 113,905,935 120,450,654 December 31, 2021 26,240,926 93,450,981 Share capital issued through subscription receipt financing 4,223,600 10,136,640 Share issue costs - (913,304 ) Exercised warrants 1,283,873 717,420 Exercised warrants fair value - 138,662 Balance as at August 3, 2022 prior to business combination with PNRC 31,748,399 $ 103,530,399 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Shares Outstanding Share Capital Premium Nickel Resources Corp. December 31, 2020 64,083,487 $ 1,468,174 Share capital issued through private placement 12,596,421 6,771,729 Share issue costs (287,228 ) December 31, 2021 76,679,908 7,952,675 Share capital issued through private placement 8,936,167 22,388,599 Share issue cost - (1,960,977 ) Balance as at August 3, 2022 prior to business combination with NAN 85,616,075 * $ 28,380,297 * Before the closing of the RTO, NAN owned 7,667,707 85,616,075 Subsequent to the RTO transaction, the share capital of the Company was as follows: Shares Outstanding Share Capital Premium Nickel Resources Ltd. (formerly “North American Nickel Inc.”) Balance as at August 3, 2022 prior to business combination with PNRC 31,748,399 $ 103,530,399 Decrease in the share capital to that of PNRC upon RTO (Note 4) - (75,150,102 ) 31,748,399 28,380,297 Issued pursuant to reverse takeover in exchange for shares of PNRC (Note 4) 82,157,536 92,070,357 113,905,935 120,450,654 Exercise warrants post-RTO 1,236,408 569,399 Exercised warrants fair value 3,019,037 Exercise options post-RTO 300,000 117,000 Exercised options fair value 101,531 Balance as at September 30, 2022 115,442,343 $ 124,257,621 In April 2022, PNRC completed a non-brokered private placement of 8,936,167 2.00 17.87 22.39 On August 3, 2022, the date of the RTO, a total of 82,157,536 77,948,368 113,905,935 82,157,536 31,748,399 Following the RTO, during the period from August 3, 2022 to September 30, 2022, a total of 1,236,408 0.45 1.75 569,399 3,019,037 Following the RTO, during the period from August 3, 2022 to September 30, 2022, a total of 300,000 0.39 117,000 101,531 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) As at September 30, 2022, the Company has 115,442,343 80,820,623 b) Preferred shares issued and outstanding As at September 30, 2022 and September 30, 2021 there are 118,186 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 six 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 each preferred share is to be determined by dividing the conversion value of the share, $ 1 9.00 c) Warrants On February 26, 2021, PNRC issued to NAN a non-transferable common share purchase warrant (the “ Warrant 10 The Warrant was classified as a derivative financial liability that should be measured at fair value, with changes in value recorded in profit or loss. Prior to the RTO, on Jun 30, 2022, the Company reassessed the fair value of the warrant at $ 28,275,256 The fair value of the liability of the Warrant was estimated using the Black-Scholes Option Pricing Model with the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL June 30, 2022 December 31, 2021 Expected dividend yield 0 % 0 % Latest private placement price $ 2.49 $ 0.95 Expected share price volatility 141.63 % 144.13 % Risk free interest rate 3.14 % 1.02 % Remaining life of warrants 2.66 3.16 Volatility assumptions for the valuation of the Warrant were derived by reference to the volatility of NAN as the stock price of NAN was highly correlated to the advancement of the BCL assets acquisition following its investment in PNRC. On April 25, 2022, in connection with and immediately prior to the entry into the Amalgamation Agreement, NAN and PNR entered into the waiver and suspension agreement, pursuant to which NAN agreed that its exercise privileges under the Warrant or any portion thereof to subscribe for additional PNR Shares were suspended until the later of (i) the 61st calendar date following the date on which the Amalgamation Agreement was executed, and (ii) the date on which the Amalgamation Agreement is terminated in accordance with its terms. Prior to the date that the Amalgamation became effective, the PNR Shares and the Warrant held by NAN were contributed to NAN Subco, as part of the securities contribution, resulting in such securities being cancelled by operation of the triangular amalgamation. The fair value of the Warrant was written off upon the closing of the RTO. PNRC had no other issued and outstanding warrants prior to the RTO Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) The outstanding warrants of NAN prior to the completion of the RTO were as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS North American Nickel Number Outstanding (Post-consolidation basis) Weighted Average Exercise Price ($) December 31, 2021 3,216,565 0.75 Issued 295,652 2.40 Exercised (1,283,877 ) 0.56 Cancelled / expired - - Balance as at August 3, 2022 prior to business combination with PNRC 2,228,340 1.11 Subsequent to the RTO, the outstanding warrants of the Company were as follows: Premium Nickel Resources Ltd. Number Outstanding (Post-consolidation basis) Weighted Average Exercise Price ($) Balance as at August 3, 2022 prior to business combination with PNRC 2,228,340 1.11 Issued - - Exercised (1,236,408 ) 0.46 Cancelled / expired (12,375 ) - Balance as at September 30, 2022 979,557 1.94 At September 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 ($) Weighted Average remaining contractual life (years) 683,905 April 16, 2023 1.75 0.38 295,652 August 3, 2024 2.40 0.55 979,557 0.93 d) Stock options The Company adopted a Stock Option Plan (the “ Plan 22,600,000 10 The outstanding options of each company prior to the completion of the RTO were as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS North American Nickel Number Outstanding (post-consolidation basis) Weighted Average Exercise Price ($) December 31, 2021 3,010,919 1.35 Cancelled/expired (15,125 ) 6.00 Balance as at August 3, 2022 prior to business combination with PNRC 2,995,794 1.33 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Premium Nickel Resources Corp. Number Outstanding Weighted Average Exercise Price ($) December 31, 2021 5,775,000 0.52 Issued 2,600,000 2.49 Balance as at August 3, 2022 prior to business combination with NAN 8,375,000 1.13 Subsequent to the RTO, the outstanding options of the Company were as follows: Premium Nickel Resources Ltd. Number Outstanding Weighted Average Exercise Price ($) Balance as at August 3, 2022 prior to business combination with PNRC 2,995,794 1.33 Issued pursuant to RTO in exchange for options of PNRC 8,827,250 1.16 Balance as at September 30, 2022 11,823,044 1.21 During the nine months ended September 30, 2022, PNRC granted an aggregate total of 2,600,000 five years 2.00 2.49 20,000,000 Upon the closing of the RTO, all options to purchase common shares of PNRC were exchanged for options to purchase common shares of the Company in accordance with the Exchange Ratio, and vested in-full immediately. The Company calculates the fair value of all stock options using the Black-Scholes Option Pricing Model. The fair value of all options, including those granted during the nine months ended September 30, 2022 as well as the ones granted but not vested during the year ended December 2021, amounted to $ 6,776,752 0.96 The fair value of stock options granted and vested during the nine months ended September 30, 2022 was calculated using the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL September 30, 2022 December 31, 2021 Expected dividend yield 0 % 0 % Latest private placement price $ 2.49 $ 0.95 Expected share price volatility 125.83 % 125.18 127.03 % Risk free interest rate 1.68 % 0.42 1.11 % Expected life of options 5 5 Volatility assumptions for the valuation of options were derived with reference to the volatility of the common shares of NAN, insofar as management believes that the trading price of the common shares of NAN was, prior to the RTO, highly-correlated to the advancement of the BCL assets acquisition following its investment in PNRC. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Details of options outstanding as at September 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) 1,160,000 1,160,000 February 24, 2025 0.80 0.24 240,000 240,000 August 19, 2025 0.45 0.06 4,743,000 4,743,000 January 26, 2026 0.39 1.34 597,000 597,000 February 25, 2026 1.60 0.17 1,343,850 1,343,850 September 29, 2026 0.91 0.45 998,794 998,794 October 25, 2026 2.00 0.34 2,740,400 2,740,400 January 20, 2027 2.62 1.00 11,823,044 11,823,044 3.60 e) 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 period ended September 30, 2022, the Company recorded $ 6,776,752 1,261,891 3,120,568 Nil

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2022
Related Party Transactions
RELATED PARTY TRANSACTIONS	10. RELATED PARTY TRANSACTIONS The following amounts due to related parties are included in trade payables and accrued liabilities (Note 8). SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2022 December 31, 2021 Directors and Officers of the Company 32,860 26,759 NAN - 199,145 Total 32,860 225,904 These amounts are unsecured, non-interest bearing and have no fixed terms of repayment. (a) Related-party transactions During the nine months ended September 30, 2022, ThreeD Capital subscribed for 1,213,538 1,279,069 2,427,076 374,123 8,662,347 7,383,278 7.5 9.14 Between March 2, 2022 and March 3, 2022, PNRC issued promissory notes to its officers and directors as well as its shareholders as below: Directors and Officers of the Company 35,000 ThreeD Capital 762,180 NAN 1,270,000 Total 2,067,180 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) On April 30, 2022, all amounts owing in respect of the above promissory notes were repaid in full by payment of cash in an amount of $ 2,018,568 310,000 326,740 (b) Key management personnel is defined as members of the Board of Directors and senior officers. Key management compensation was as follows: SCHEDULE OF KEY MANAGEMENT COMPENSATION September 30, 2022 September 30, 2021 Management fees 1,701,211 436,626 Due diligence BCL - 90,000 Corporate and administration expenses 40,884 96,555 Total 1,742,095 623,181

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about financial instruments [abstract]
FINANCIAL INSTRUMENTS	11. FINANCIAL INSTRUMENTS The Company thoroughly examines the various financial instrument risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may include interest rate risk, credit risk, liquidity risk, and currency risk. The carrying value of the Company’s financial instruments approximates their fair value due to their short-term nature. Fair value measurements of financial instruments are required to be classified using a fair value hierarchy that reflects the significance of inputs in making the measurements. The levels of the fair value hierarchy are defined as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 – Inputs for the asset or liability that are not based on observable market data. On September 30, 2022, the fair value of the Company’s warrant liabilities are based on Level 3 measurements and the fair value of cash is based on Level 1 measurements. The fair values of other financial instruments approximate their carrying values due to the relatively short-term maturity of these instruments.

RISK MANAGEMENT

RISK MANAGEMENT	9 Months Ended
	Sep. 30, 2022
Risk Management
RISK MANAGEMENT	12. RISK MANAGEMENT The Company’s exposure to market risk includes, but is not limited to, the following risks: Interest Rate Risk Interest rate risk is the risk that the future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not subject to significant changes in interest rates. Foreign Currency Exchange Rate Risk Currency risk is the risk that the fair value or future cash flows will fluctuate because of changes in foreign currency exchange rates. In addition, the value of cash and other financial assets and liabilities denominated in foreign currencies can fluctuate with changes in currency exchange rates. The Company operates in Canada and Botswana and undertakes transactions denominated in foreign currencies such as the United States dollar and Botswana Pula, and consequently is exposed to exchange rate risks. Exchange risks are managed by matching levels of foreign currency balances and related obligations and by maintaining operating cash accounts in non-Canadian dollar currencies. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Credit Risk Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The credit risk is primarily associated with liquid financial assets. The Company limits exposure to credit risk on liquid financial assets by holding cash at highly-rated financial institutions. Price Risk The Company is exposed to price risk with respect to commodity prices. Commodity price risk is defined as the potential adverse impact on income and economic value due to commodity price movements and volatilities. To mitigate price risk, the Company closely monitors commodity prices of precious metals and the stock market to determine the appropriate course of action to be taken by the Company. Liquidity Risk Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset. The Company manages the liquidity risk inherent in these financial obligations by regularly monitoring actual cash flows to annual budget which forecast cash and expected cash availability to meet future obligations. The Company will defer discretionary expenditures, as required, in order to manage and conserve cash required for current liabilities. The following table shows the Company’s contractual obligations as at September 30, 2022: SCHEDULE OF CONTRACTUAL OBLIGATIONS September 30, 2022 Less than 1 year 1 - 2 years 2 - 5 years Total Trade payables and accrued liabilities 3,773,495 - - 3,733,495 Vehicle financing 12,259 49,038 111,503 172,800 Total 3,822,803 49,038 111,503 3,906,295 Capital Risk Management The Company manages its capital to ensure that it will be able to continue as a going concern, so that adequate funds are available or are scheduled to be raised to meet its ongoing administrative and operating costs and obligations. This is achieved by the Board of Directors’ review and ultimate approval of budgets that are achievable within existing resources, and the timely matching and release of the next stage of expenditures with the resources made available from capital raisings and debt funding from related or other parties. In doing so, the Company may issue new shares, restructure or issue new debt. The Company is not subject to any externally imposed capital requirements imposed by a regulator or a lending institution. Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) In the management of capital, the Company includes the components of equity deficiency, loans and borrowings, other current liabilities, net of cash. SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH September 30, 2022 December 31, 2021 Shareholder’s equity (deficiency) 123,359,195 (4,316,964 ) Current liabilities 3,773,495 580,486 Total liabilities and equity 127,132,690 (3,736,478 ) Cash (5,756,642 ) (1,990,203 ) Total 121,376,048 (5,726,681 )

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2022
Subsequent Event
SUBSEQUENT EVENT	13. SUBSEQUENT EVENT On November 21, 2022, the Company announced a $ 7 Bridge Loan Lender 6,740,000 260,000 Promissory Note 7 10 February 22, 2023 extend the maturity date to March 22, 2023 The obligations of the Company under the Promissory Note are fully and unconditionally guaranteed by each of its existing and future subsidiaries. No assets of the Company were pledged as collateral under the Promissory Notes. The Promissory Note is subject to certain covenants and provisions on events of default, repayments and mandatory prepayments that are customary for a loan of this nature. The Company intends to use the proceeds from the issuance of the Promissory Note to fund the ongoing redevelopment work programs on its Botswana assts and for general corporate purpose. In connection with the Bridge Loan financing, the Company also issued 119,229 2.04

BASIS OF PREPARATION AND SIGN_2

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2022
Basis Of Preparation And Significant Accounting Policies
Statement of Compliance	(a) Statement of Compliance These condensed interim consolidated financial statements were prepared in accordance with International Accounting Standards (“ IAS 34 Interim Financial Reporting
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 condensed interim consolidated financial statements in conformity with IAS 34 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. These areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the condensed interim consolidated financial statements, are disclosed in note 3. Effective August 3, 2022, in connection with the closing of the RTO, the Company completed a consolidation of its common shares on a 5:1 basis, whereby one (1) post-consolidation common share was exchange for every five (5) pre-consolidation common shares (the “ Consolidation All references to share capital, warrants, options and weighted average number of shares outstanding have been adjusted in these Financial Statements to give effect to the RTO and the Consolidation, as if such alterations occurred at the beginning of the earliest period presented herein.
Basis of consolidation	(c) Basis of consolidation These Financial Statements are presented on a consolidated basis of the Company and its wholly-owned subsidiaries. All intercompany transactions, balances, income and expenses are eliminated upon consolidation. Effective August 3, 2022, NAN acquired 100

AMALGAMATION (Tables)

AMALGAMATION (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about business combination [abstract]
SUMMARY OF COST OF ACQUISITION	The costs of the acquisition have been allocated as follows: SUMMARY OF COST OF ACQUISITION NAN’s shares outstanding before RTO 158,741,995 NAN share price ($/share) before RTO $ 0.58 FV of shares transferred $ 92,070,357 FV of options, warrants and agent warrants 12,110,855 FV of preferred shares 38,082 Total FV of consideration transferred $ 104,219,294 Cash $ 11,051,917 Trade and other receivables 450,522 Property, plant and equipment 14,111 Exploration and evaluation assets* 18,875,760 Trade payables and accrued liabilities (1,548,582 ) Net assets acquired 28,843,728 Loss on acquisition 75,375,567 Total Purchase Price $ 104,219,294 * Included in net assets acquired are exploration and evaluation assets, totaling $ 39.2 20.3

OTHER RECEIVABLES (Tables)

OTHER RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2022
Other Receivables
SUMMARY OF RECEIVABLES AND OTHER CURRENT ASSETS	A summary of the receivables and other current assets as at September 30, 2022 and December 31, 2021 is detailed in the table below: SUMMARY OF RECEIVABLES AND OTHER CURRENT ASSETS September 30, 2022 December 31, 2021 HST paid on purchases 529,656 84,563 VAT paid on purchases 246,777 55,067 Other receivables 1,714 - Total receivables and other current assets 778,147 139,630

EXPLORATION AND EVALUATION AS_2

EXPLORATION AND EVALUATION ASSETS (Tables)	9 Months Ended
	Sep. 30, 2022
Exploration And Evaluation Assets
SUMMARY OF EXPLORATION AND EVALUATION ASSETS	SUMMARY OF EXPLORATION AND EVALUATION ASSETS Selebi Selkirk Maniitsoq Properties Total Botswana Greenland Canada Selebi Selkirk Maniitsoq Properties Total Acquisition Balance, December 31, 2021 - - - - - Acquisition costs 8,970,850 - 16,348,722 2,535,873 27,858,445 Balance, September 30, 2022 8,970,850 - 16,348,722 2,535,873 27,855,445 Exploration Balance, December 31, 2021 3,099,926 - - - 3,099,926 Beginning balance 3,099,926 - - - 3,099,926 Site administration 722,414 - 722,414 Care & Maintenance 3,757,820 - 3,757,820 Geology 1,249,691 78,376 12,520 2,649 1,343,236 Drilling 4,915,069 - 4,915,069 Geophysics 1,229,569 - 1,229,569 Engineering 978,367 - 978,367 ESG 152,999 28,117 181,116 Health and safety 70,944 - 70,944 Utilities - Electricity 179,515 - 179,515 Balance, September 30, 2022 16,356,314 106,493 12,520 2,649 16,477,976 Total, September 30, 2022 25,327,164 106,493 16,361,242 2,538,522 44,333,421 Total, December 31, 2021 3,099,926 - - - 3,099,926 Ending balance 3,099,926 - - - 3,099,926

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
SUMMARY OF PROPERTY, PLANT AND EQUIPMENT	The table below sets out costs and accumulated amortization as at September 30, 2022: SUMMARY OF PROPERTY, PLANT AND EQUIPMENT Vehicles Furniture Leasehold improvement Buildings Exploration Equipment Computer Equipment and Software Total Cost Balance – December 31, 2021 - - - - - - - Purchases 234,407 19,405 96,231 533,807 883,850 Deemed acquisition from NAN 11,279 1,950 13,229 Balance – September 30, 2022 234,407 19,405 96,231 533,807 11,279 1,950 897,079
SUMMARY OF DEPRECIATION AND AMORTIZATION	Depreciation and amortization are calculated on a straight-line method to charge the cost, less residual value, of the assets to their residual values over their estimated useful lives. The depreciation and amortization rate applicable to each category of equipment is as follows: SUMMARY OF DEPRECIATION AND AMORTIZATION Equipment Depreciation rate 30% Furniture 20% Leasehold improvement 10%

TRADE PAYABLES AND ACCRUED LI_2

TRADE PAYABLES AND ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Trade Payables And Accrued Liabilities
SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES	SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2022 December 31, 2021 Amounts due to related parties (Note 10) 32,860 225,904 Trade payables 2,060,998 218,456 Accrued liabilities 1,679,637 136,126 Trade payables and accrued liabilities 3,773,495 580,486

SHARE CAPITAL, WARRANTS AND O_2

SHARE CAPITAL, WARRANTS AND OPTIONS (Tables)	9 Months Ended
	Sep. 30, 2022
IfrsStatementLineItems [Line Items]
SCHEDULE OF SHARE CAPITAL	SCHEDULE OF SHARE CAPITAL Shares Outstanding Share Capital North American Nickel Inc. (post-consolidation basis) December 31, 2020 21,966,730 $ 89,626,730 Share capital issued through private placement 1,658,133 1,989,760 Share issue costs - (89,935 ) Value allocated to warrants - (495,228 ) Exercised options 100,000 112,000 Exercised options fair value - 92,478 Exercised warrants 2,516,063 1,641,674 Exercised warrants fair value - 573,502 31,748,399 28,380,297 Issued pursuant to reverse takeover in exchange for shares of PNRC (Note 4) 82,157,536 92,070,357 113,905,935 120,450,654 December 31, 2021 26,240,926 93,450,981 Share capital issued through subscription receipt financing 4,223,600 10,136,640 Share issue costs - (913,304 ) Exercised warrants 1,283,873 717,420 Exercised warrants fair value - 138,662 Balance as at August 3, 2022 prior to business combination with PNRC 31,748,399 $ 103,530,399 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Shares Outstanding Share Capital Premium Nickel Resources Corp. December 31, 2020 64,083,487 $ 1,468,174 Share capital issued through private placement 12,596,421 6,771,729 Share issue costs (287,228 ) December 31, 2021 76,679,908 7,952,675 Share capital issued through private placement 8,936,167 22,388,599 Share issue cost - (1,960,977 ) Balance as at August 3, 2022 prior to business combination with NAN 85,616,075 * $ 28,380,297 * Before the closing of the RTO, NAN owned 7,667,707 85,616,075 Subsequent to the RTO transaction, the share capital of the Company was as follows: Shares Outstanding Share Capital Premium Nickel Resources Ltd. (formerly “North American Nickel Inc.”) Balance as at August 3, 2022 prior to business combination with PNRC 31,748,399 $ 103,530,399 Decrease in the share capital to that of PNRC upon RTO (Note 4) - (75,150,102 ) 31,748,399 28,380,297 Issued pursuant to reverse takeover in exchange for shares of PNRC (Note 4) 82,157,536 92,070,357 113,905,935 120,450,654 Exercise warrants post-RTO 1,236,408 569,399 Exercised warrants fair value 3,019,037 Exercise options post-RTO 300,000 117,000 Exercised options fair value 101,531 Balance as at September 30, 2022 115,442,343 $ 124,257,621
SCHEDULE OF INPUTS TO OPTION PRICING MODEL	The fair value of stock options granted and vested during the nine months ended September 30, 2022 was calculated using the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL September 30, 2022 December 31, 2021 Expected dividend yield 0 % 0 % Latest private placement price $ 2.49 $ 0.95 Expected share price volatility 125.83 % 125.18 127.03 % Risk free interest rate 1.68 % 0.42 1.11 % Expected life of options 5 5
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS	The outstanding warrants of NAN prior to the completion of the RTO were as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS North American Nickel Number Outstanding (Post-consolidation basis) Weighted Average Exercise Price ($) December 31, 2021 3,216,565 0.75 Issued 295,652 2.40 Exercised (1,283,877 ) 0.56 Cancelled / expired - - Balance as at August 3, 2022 prior to business combination with PNRC 2,228,340 1.11 Subsequent to the RTO, the outstanding warrants of the Company were as follows: Premium Nickel Resources Ltd. Number Outstanding (Post-consolidation basis) Weighted Average Exercise Price ($) Balance as at August 3, 2022 prior to business combination with PNRC 2,228,340 1.11 Issued - - Exercised (1,236,408 ) 0.46 Cancelled / expired (12,375 ) - Balance as at September 30, 2022 979,557 1.94
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS	At September 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 ($) Weighted Average remaining contractual life (years) 683,905 April 16, 2023 1.75 0.38 295,652 August 3, 2024 2.40 0.55 979,557 0.93
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS	The outstanding options of each company prior to the completion of the RTO were as follows: SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS North American Nickel Number Outstanding (post-consolidation basis) Weighted Average Exercise Price ($) December 31, 2021 3,010,919 1.35 Cancelled/expired (15,125 ) 6.00 Balance as at August 3, 2022 prior to business combination with PNRC 2,995,794 1.33 Notes to the Unaudited Condensed Interim Consolidated Financial statements For the Three and Nine Months Ended September 30, 2022 (Expressed in Canadian dollars) Premium Nickel Resources Corp. Number Outstanding Weighted Average Exercise Price ($) December 31, 2021 5,775,000 0.52 Issued 2,600,000 2.49 Balance as at August 3, 2022 prior to business combination with NAN 8,375,000 1.13 Subsequent to the RTO, the outstanding options of the Company were as follows: Premium Nickel Resources Ltd. Number Outstanding Weighted Average Exercise Price ($) Balance as at August 3, 2022 prior to business combination with PNRC 2,995,794 1.33 Issued pursuant to RTO in exchange for options of PNRC 8,827,250 1.16 Balance as at September 30, 2022 11,823,044 1.21
SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS	Details of options outstanding as at September 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) 1,160,000 1,160,000 February 24, 2025 0.80 0.24 240,000 240,000 August 19, 2025 0.45 0.06 4,743,000 4,743,000 January 26, 2026 0.39 1.34 597,000 597,000 February 25, 2026 1.60 0.17 1,343,850 1,343,850 September 29, 2026 0.91 0.45 998,794 998,794 October 25, 2026 2.00 0.34 2,740,400 2,740,400 January 20, 2027 2.62 1.00 11,823,044 11,823,044 3.60
Warrant reserve [member]
IfrsStatementLineItems [Line Items]
SCHEDULE OF INPUTS TO OPTION PRICING MODEL	The fair value of the liability of the Warrant was estimated using the Black-Scholes Option Pricing Model with the following assumptions: SCHEDULE OF INPUTS TO OPTION PRICING MODEL June 30, 2022 December 31, 2021 Expected dividend yield 0 % 0 % Latest private placement price $ 2.49 $ 0.95 Expected share price volatility 141.63 % 144.13 % Risk free interest rate 3.14 % 1.02 % Remaining life of warrants 2.66 3.16

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions
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 8). SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES September 30, 2022 December 31, 2021 Directors and Officers of the Company 32,860 26,759 NAN - 199,145 Total 32,860 225,904 Directors and Officers of the Company 35,000 ThreeD Capital 762,180 NAN 1,270,000 Total 2,067,180
SCHEDULE OF KEY MANAGEMENT COMPENSATION	Key management compensation was as follows: SCHEDULE OF KEY MANAGEMENT COMPENSATION September 30, 2022 September 30, 2021 Management fees 1,701,211 436,626 Due diligence BCL - 90,000 Corporate and administration expenses 40,884 96,555 Total 1,742,095 623,181

RISK MANAGEMENT (Tables)

RISK MANAGEMENT (Tables)	9 Months Ended
	Sep. 30, 2022
Risk Management
SCHEDULE OF CONTRACTUAL OBLIGATIONS	The following table shows the Company’s contractual obligations as at September 30, 2022: SCHEDULE OF CONTRACTUAL OBLIGATIONS September 30, 2022 Less than 1 year 1 - 2 years 2 - 5 years Total Trade payables and accrued liabilities 3,773,495 - - 3,733,495 Vehicle financing 12,259 49,038 111,503 172,800 Total 3,822,803 49,038 111,503 3,906,295
SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH	In the management of capital, the Company includes the components of equity deficiency, loans and borrowings, other current liabilities, net of cash. SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH September 30, 2022 December 31, 2021 Shareholder’s equity (deficiency) 123,359,195 (4,316,964 ) Current liabilities 3,773,495 580,486 Total liabilities and equity 127,132,690 (3,736,478 ) Cash (5,756,642 ) (1,990,203 ) Total 121,376,048 (5,726,681 )

NATURE OF OPERATIONS AND GOIN_2

NATURE OF OPERATIONS AND GOING CONCERN (Details Narrative) - CAD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Nature Of Operations And Going Concern
Net loss	$ 54,052,183	$ 375,732	$ 78,287,243	$ 1,669,387

BASIS OF PREPARATION AND SIGN_3

BASIS OF PREPARATION AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Aug. 03, 2022
Reserve Quantities [Line Items]
Consolidation of common shares	Effective August 3, 2022, in connection with the closing of the RTO, the Company completed a consolidation of its common shares on a 5:1 basis, whereby one (1) post-consolidation common share was exchange for every five (5) pre-consolidation common shares (the “Consolidation”)
North American Nickel [Member]
Reserve Quantities [Line Items]
Percentage of voting equity interests acquired	100%

SUMMARY OF COST OF ACQUISITION

SUMMARY OF COST OF ACQUISITION (Details)	Sep. 30, 2022 shares	Aug. 03, 2022 $ / shares shares		Apr. 28, 2022 $ / shares	Apr. 26, 2022 CAD ($) $ / shares shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
IfrsStatementLineItems [Line Items]
NAN’s shares outstanding before RTO | shares	115,442,343	31,748,399
NAN share price ($/share) before RTO | (per share)		$ 0.39		$ 2
North American Nickel [Member]
IfrsStatementLineItems [Line Items]
NAN’s shares outstanding before RTO | shares		85,616,075	[1]		158,741,995	76,679,908	64,083,487
NAN share price ($/share) before RTO | $ / shares					$ 0.58
FV of shares transferred					$ 92,070,357
FV of options, warrants and agent warrants					12,110,855
FV of preferred shares					38,082
Total Purchase Price					104,219,294
Cash					11,051,917
Trade and other receivables					450,522
Property, plant and equipment					14,111
Exploration and evaluation assets*					18,875,760
Trade payables and accrued liabilities					(1,548,582)
Net assets acquired					28,843,728
Loss on acquisition					$ 75,375,567
[1]Before the closing of the RTO, NAN owned 7,667,707 85,616,075

SUMMARY OF COST OF ACQUISITIO_2

SUMMARY OF COST OF ACQUISITION (Details) (Parenthetical) $ in Millions	Apr. 26, 2022 CAD ($)
Disclosure of detailed information about business combination [abstract]
Exploration and evaluation assets acquired	$ 39.2
Impairment charge	$ 20.3

AMALGAMATION (Details Narrative

AMALGAMATION (Details Narrative) $ / shares in Units, $ in Millions	Aug. 03, 2022 CAD ($) $ / shares shares	Apr. 26, 2022 CAD ($) $ / shares shares	Apr. 30, 2022 shares	Apr. 28, 2022 $ / shares
Reserve Quantities [Line Items]
Outstanding shares		31,748,399
Common share issued			310,000
Options to purchase		8,827,250
Share converted	13,131
Deemed share issuance value | $	$ 12
Share price | (per share)	$ 0.39			$ 2
Options [Member]
Reserve Quantities [Line Items]
Deemed share issuance	2,995,794
Warrants [Member]
Reserve Quantities [Line Items]
Deemed share issuance	2,228,340
Preferred Shares [Member]
Reserve Quantities [Line Items]
Deemed share issuance	118,186
Premium Nickel Resources [Member]
Reserve Quantities [Line Items]
Description of closing of RTO		Before the closing of the RTO, NAN owned 7,667,707 common shares of PNRC and a 15% warrant which entitled NAN to purchase common shares of PNRC for up to 15% of the capital of PNRC, upon payment of US$10 million prior to the fifth anniversary of the date of issue. Prior to the date that the Amalgamation became effective, the common shares of PNRC and the 15% warrant to purchase common shares of PNRC held by NAN were contributed to NAN Subco, as part of the securities contribution, resulting in such securities being cancelled by operation of the Amalgamation
Outstanding shares		7,667,707
Proportion of ownership interest in subsidiary		27.90%
Options to purchase		8,375,000
Cost of transaction expense | $	$ 2.3
Share price | $ / shares		$ 0.58
Trading loss | $		$ 75
Premium Nickel Resources [Member] | Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Outstanding shares		77,948,368
Common share issued		82,157,536
Proportion of ownership interest in subsidiary		72.10%
North American Nickel [Member] | Non-adjusting Events After Reporting Period [Member]
Reserve Quantities [Line Items]
Proportion of ownership interest in subsidiary		27.90%

SUMMARY OF RECEIVABLES AND OTHE

SUMMARY OF RECEIVABLES AND OTHER CURRENT ASSETS (Details) - CAD ($)	Sep. 30, 2022	Dec. 31, 2021
Other Receivables
HST paid on purchases	$ 529,656	$ 84,563
VAT paid on purchases	246,777	55,067
Other receivables	1,714
Total receivables and other current assets	$ 778,147	$ 139,630

SUMMARY OF EXPLORATION AND EVAL

SUMMARY OF EXPLORATION AND EVALUATION ASSETS (Details)	9 Months Ended
	Sep. 30, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
Beginning balance	$ 3,099,926
Ending balance	44,333,421
Selebi [Member] | BOTSWANA
IfrsStatementLineItems [Line Items]
Beginning balance	3,099,926
Ending balance	25,327,164
Selkirk [Member] | BOTSWANA
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance	106,493
Maniitsoq Property [Member] | Greenland Maniitsoq [Member]
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance	16,361,242
Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance	2,538,522
Exploration and Evaluation Assets Arising from Acquisition [Member]
IfrsStatementLineItems [Line Items]
Beginning balance
Acquisition costs	27,858,445
Ending balance	27,855,445
Exploration and Evaluation Assets Arising from Acquisition [Member] | Selebi [Member] | BOTSWANA
IfrsStatementLineItems [Line Items]
Beginning balance
Acquisition costs	8,970,850
Ending balance	8,970,850
Exploration and Evaluation Assets Arising from Acquisition [Member] | Selkirk [Member] | BOTSWANA
IfrsStatementLineItems [Line Items]
Beginning balance
Acquisition costs
Ending balance
Exploration and Evaluation Assets Arising from Acquisition [Member] | Maniitsoq Property [Member] | Greenland Maniitsoq [Member]
IfrsStatementLineItems [Line Items]
Beginning balance
Acquisition costs	16,348,722
Ending balance	16,348,722
Exploration and Evaluation Assets Arising from Acquisition [Member] | Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Beginning balance
Acquisition costs	2,535,873
Ending balance	2,535,873
Exploration and Evaluation Assets Arising from Exploration [Member]
IfrsStatementLineItems [Line Items]
Beginning balance	3,099,926
Ending balance	16,477,976
Site administration	722,414
Care & Maintenance	3,757,820
Geology	1,343,236
Drilling	4,915,069
Geophysics	1,229,569
Engineering	978,367
ESG	181,116
Health and safety	70,944
Utilities - Electricity	179,515
Exploration and Evaluation Assets Arising from Exploration [Member] | Selebi [Member] | BOTSWANA
IfrsStatementLineItems [Line Items]
Beginning balance	3,099,926
Ending balance	16,356,314
Site administration	722,414
Care & Maintenance	3,757,820
Geology	1,249,691
Drilling	4,915,069
Geophysics	1,229,569
Engineering	978,367
ESG	152,999
Health and safety	70,944
Utilities - Electricity	179,515
Exploration and Evaluation Assets Arising from Exploration [Member] | Selkirk [Member] | BOTSWANA
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance	106,493
Site administration
Care & Maintenance
Geology	78,376
Drilling
Geophysics
Engineering
ESG	28,117
Health and safety
Utilities - Electricity
Exploration and Evaluation Assets Arising from Exploration [Member] | Maniitsoq Property [Member] | Greenland Maniitsoq [Member]
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance	12,520
Geology	12,520
Exploration and Evaluation Assets Arising from Exploration [Member] | Property [Member] | CANADA
IfrsStatementLineItems [Line Items]
Beginning balance
Ending balance	2,649
Geology	$ 2,649

EXPLORATION AND EVALUATION AS_3

EXPLORATION AND EVALUATION ASSETS (Details Narrative)			1 Months Ended		2 Months Ended	9 Months Ended		10 Months Ended	12 Months Ended
	Aug. 03, 2022 CAD ($)	Sep. 28, 2021 CAD ($)	May 31, 2022 CAD ($)	Apr. 30, 2022 CAD ($)	Sep. 30, 2022 CAD ($)	Sep. 30, 2022 DKK (kr) shares	Sep. 30, 2022 CAD ($) shares	Jan. 31, 2022 CAD ($)	Dec. 31, 2021 CAD ($)
Selebi [Member]
IfrsStatementLineItems [Line Items]
Payment of second instalment		$ 25,000,000
Payment of third instalment		30,000,000
Selkirk Assets [Member]
IfrsStatementLineItems [Line Items]
Exploration and license related expenditures							$ 106,493		$ 3,099,926
Maniitsoq Property [Member]
IfrsStatementLineItems [Line Items]
Exploration and license related expenditures					$ 12,520
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
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	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	3 years
Period of additional license application for years 11-13						3 years	3 years
Book value	$ 36,692,516
Property impaired	20,343,794
Property impaired	$ 16,348,722
Sulussugut License [Member]
IfrsStatementLineItems [Line Items]
Amount of license carried credits						kr 285,866,733	$ 57,026,697
Ininngui License [Member]
IfrsStatementLineItems [Line Items]
Amount of license carried credits						30,515,237	6,087,393
Carbonatite License [Member]
IfrsStatementLineItems [Line Items]
Amount of license carried credits						kr 10,577,191	$ 2,110,012
Post Creek Property [Member]
IfrsStatementLineItems [Line Items]
Advances payable annually on net smelter return royalties | shares						10,000	10,000
Halcyon Property [Member]
IfrsStatementLineItems [Line Items]
Advances payable annually on net smelter return royalties | shares						8,000	8,000
Quetico Property [Member] | Prior to April 26, 2021 [Member]
IfrsStatementLineItems [Line Items]
Work commitment amount			$ 323,600	$ 323,600
Canadian Properties [Member]
IfrsStatementLineItems [Line Items]
Exploration and license related expenditures					$ 2,649
High Atlas Project in Morocco [Member]
IfrsStatementLineItems [Line Items]
License fee paid							$ 65,000
Selebi [Member]
IfrsStatementLineItems [Line Items]
Assets purchase price		56,750,000
Closing payment		1,750,000
Earlier payment		25,000,000
Payable of mine construction		$ 30,000,000
Payment of care and maintenance								$ 5,178,747
Exploration related cost							$ 22,227,238		$ 3,099,926

SUMMARY OF PROPERTY, PLANT AND

SUMMARY OF PROPERTY, PLANT AND EQUIPMENT (Details)	9 Months Ended
	Sep. 30, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Purchases	883,850
Deemed acquisition from NAN	13,229
Balance – September 30, 2022	897,079
Vehicles [member]
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Purchases	234,407
Balance – September 30, 2022	234,407
Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Purchases	19,405
Balance – September 30, 2022	19,405
Leasehold improvements [member]
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Purchases	96,231
Balance – September 30, 2022	96,231
Buildings [member]
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Purchases	533,807
Balance – September 30, 2022	533,807
Exploration Equipment [Member]
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Deemed acquisition from NAN	11,279
Balance – September 30, 2022	11,279
Computer Equipments and Software [Member]
IfrsStatementLineItems [Line Items]
Balance – December 31, 2021
Deemed acquisition from NAN	1,950
Balance – September 30, 2022	$ 1,950

SUMMARY OF DEPRECIATION AND AMO

SUMMARY OF DEPRECIATION AND AMORTIZATION (Details)	9 Months Ended
	Sep. 30, 2022
Vehicles [member]
IfrsStatementLineItems [Line Items]
Depreciation rate	30%
Fixtures and fittings [member]
IfrsStatementLineItems [Line Items]
Depreciation rate	20%
Leasehold improvements [member]
IfrsStatementLineItems [Line Items]
Depreciation rate	10%

SUMMARY OF TRADE PAYABLES AND A

SUMMARY OF TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($)	Sep. 30, 2022	Mar. 03, 2022	Dec. 31, 2021
Trade Payables And Accrued Liabilities
Amounts due to related parties (Note 10)	$ 32,860	$ 2,067,180	$ 225,904
Trade payables	2,060,998		218,456
Accrued liabilities	1,679,637		136,126
Trade payables and accrued liabilities	$ 3,773,495		$ 580,486

SCHEDULE OF SHARE CAPITAL (Deta

SCHEDULE OF SHARE CAPITAL (Details) - CAD ($)	2 Months Ended		7 Months Ended		12 Months Ended
	Sep. 30, 2022		Aug. 03, 2022		Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Beginning balance, shares	31,748,399
Beginning balance, value			$ (4,316,964)		$ (2,654,845)
Share capital issued through private placement, shares
Share capital issued through private placement	$ (75,150,102)
Exercised options, shares	300,000
Exercise options	$ 117,000
Exercised options fair value	$ 101,531
Exercised warrants, shares	1,236,408
Exercised warrants	$ 569,399
Exercised warrants fair value	$ 3,019,037
Share capital issued through private placement net, shares	31,748,399
Share capital issued through private placement net	$ 28,380,297
Issued pursuant to reverse takeover in exchange for shares	82,157,536
Issued pursuant to reverse takeover in exchange	$ 92,070,357
Issued pursuant to reverse takeover in exchange for shares, net	113,905,935
Issued pursuant to reverse takeover in exchange net	$ 120,450,654
Ending balance, shares	115,442,343		31,748,399
Ending balance	$ 47,983,628				$ (4,316,964)
Shares capital, beginning	103,530,399
Share capital, end	$ 124,257,621		$ 103,530,399
North American Nickel [Member]
IfrsStatementLineItems [Line Items]
Beginning balance, shares	85,616,075	[1]	76,679,908		64,083,487
Beginning balance, value	$ 28,380,297		$ 7,952,675		$ 1,468,174
Share capital issued through private placement, shares			8,936,167		12,596,421
Share capital issued through private placement			$ 22,388,599		$ 6,771,729
Share issue costs, shares
Share issue costs			$ (1,960,977)		$ (287,228)
Ending balance, shares			85,616,075	[1]	76,679,908
Ending balance			$ 28,380,297		$ 7,952,675
North American Nickel [Member] | Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Beginning balance, shares	31,748,399		26,240,926		21,966,730
Beginning balance, value	$ 103,530,399		$ 93,450,981		$ 89,626,730
Share capital issued through private placement, shares			4,223,600		1,658,133
Share capital issued through private placement			$ 10,136,640		$ 1,989,760
Share issue costs, shares
Share issue costs			$ (913,304)		$ (89,935)
Value allocated to warrants, shares
Value allocated to warrants					$ (495,228)
Exercised options, shares					100,000
Exercise options					$ 112,000
Exercised options fair value, shares
Exercised options fair value					$ 92,478
Exercised warrants, shares			1,283,873		2,516,063
Exercised warrants			$ 717,420		$ 1,641,674
Exercised warrants fair value, shares
Exercised warrants fair value			$ 138,662		$ 573,502
Ending balance, shares			31,748,399		26,240,926
Ending balance			$ 103,530,399		$ 93,450,981
[1]Before the closing of the RTO, NAN owned 7,667,707 85,616,075

SCHEDULE OF SHARE CAPITAL (De_2

SCHEDULE OF SHARE CAPITAL (Details) (Parenthetical) - shares	2 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Share capital issued through exercise of warrants	300,000	115,442,343	80,820,623
North American Nickel [Member]
IfrsStatementLineItems [Line Items]
Share capital issued through exercise of warrants	113,905,935	7,667,707
North American Nickel [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Share capital issued through exercise of warrants	85,616,075

SCHEDULE OF INPUTS TO OPTION PR

SCHEDULE OF INPUTS TO OPTION PRICING MODEL (Details) - $ / shares	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Expected dividend yield		0%	0%
Latest private placement price		$ 2.49	$ 0.95
Expected share price volatility		125.83%
Risk free interest rate		1.68%
Expected life of options		5 years	5 years
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility			125.18%
Risk free interest rate			0.42%
Top of range [member]
IfrsStatementLineItems [Line Items]
Expected share price volatility			127.03%
Risk free interest rate			1.11%
Warrant reserve [member]
IfrsStatementLineItems [Line Items]
Expected dividend yield	0%		0%
Latest private placement price	$ 2.49		$ 0.95
Expected share price volatility	141.63%		144.13%
Risk free interest rate	3.14%		1.02%
Expected life of options	2 years 7 months 28 days		3 years 1 month 28 days

SCHEDULE OF NUMBER AND WEIGHTED

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF WARRANTS (Details)	2 Months Ended	7 Months Ended
	Sep. 30, 2022 shares $ / shares	Aug. 03, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Outstanding at End of year	979,557
Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding at beginning of year	2,228,340
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares	$ 1.11
Issued
Weighted Average Exercise Price, issued | $ / shares
Exercised	(1,236,408)
Weighted Average Exercise Price, exercised | $ / shares	$ 0.46
Cancelled\expired	(12,375)
Weighted Average Exercise Price, Cancelled / expired | $ / shares
Outstanding at End of year	979,557	2,228,340
Weighted Average Exercise Price, Outstanding at end of year | $ / shares	$ 1.94	$ 1.11
North American Nickel [Member] | Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding at beginning of year	2,228,340	3,216,565
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares	$ 1.11	$ 0.75
Issued		295,652
Weighted Average Exercise Price, issued | $ / shares		$ 2.40
Exercised		(1,283,877)
Weighted Average Exercise Price, exercised | $ / shares		$ 0.56
Cancelled\expired
Weighted Average Exercise Price, Cancelled / expired | $ / shares
Outstanding at End of year		2,228,340
Weighted Average Exercise Price, Outstanding at end of year | $ / shares		$ 1.11

SCHEDULE OF NUMBER AND WEIGHT_2

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING WARRANTS (Details)	9 Months Ended
	Sep. 30, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Warrants outstanding	979,557
Weighted average remaining contractual life (years)	11 months 4 days
Warrants Expiring April 16, 2023 [Member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	683,905
Exercise price | $ / shares	$ 1.75
Weighted average remaining contractual life (years)	4 months 17 days
Warrants Expiring August 03, 2024 [member]
IfrsStatementLineItems [Line Items]
Warrants outstanding	295,652
Exercise price | $ / shares	$ 2.40
Weighted average remaining contractual life (years)	6 months 18 days

SCHEDULE OF NUMBER AND WEIGHT_3

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE EXERCISE PRICES OF SHARE OPTIONS (Details)	2 Months Ended	7 Months Ended	9 Months Ended
	Sep. 30, 2022 shares $ / shares	Aug. 03, 2022 shares $ / shares	Sep. 30, 2022 shares
Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding, End of year	11,823,044		11,823,044
Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Issued			2,600,000
Stock Option Plan [Member] | Prior Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding, beginning of year	8,375,000	5,775,000	5,775,000
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares		$ 0.52
Weighted Average Exercise Price, Issued | $ / shares		$ 2.49
Outstanding, End of year		8,375,000
Weighted Average Exercise Price, Outstanding at End of year | $ / shares		$ 1.13
Issued		2,600,000
Stock Option Plan [Member] | Prior Consolidation Basis [Member] | North American Nickel [Member]
IfrsStatementLineItems [Line Items]
Outstanding, beginning of year	2,995,794	3,010,919	3,010,919
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares		$ 1.35
Cancelled/expired		(15,125)
Weighted Average Exercise Price, Issued | $ / shares		$ 6
Outstanding, End of year		2,995,794
Weighted Average Exercise Price, Outstanding at End of year | $ / shares		$ 1.33
Stock Option Plan [Member] | Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Outstanding, beginning of year	2,995,794
Weighted Average Exercise Price, Outstanding at beginning of year | $ / shares	$ 1.33
Outstanding, End of year	11,823,044	2,995,794	11,823,044
Weighted Average Exercise Price, Outstanding at End of year | $ / shares	$ 1.21
Issued	8,827,250
Weighted Average Exercise Price, Issued | $ / shares	$ 1.16

SCHEDULE OF NUMBER AND WEIGHT_4

SCHEDULE OF NUMBER AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF OUTSTANDING SHARE OPTIONS (Details) - Post-consolidation Basis [Member]	9 Months Ended
	Sep. 30, 2022 shares $ / shares
IfrsStatementLineItems [Line Items]
Options outstanding	11,823,044
Options exercisable	11,823,044
Weighted average remaining contractual life (years)	3 years 7 months 6 days
Options Expiring February 24, 2025 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	1,160,000
Options exercisable	1,160,000
Exercise price | $ / shares	$ 0.80
Weighted average remaining contractual life (years)	2 months 26 days
Options Expiring August 19, 2025 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	240,000
Options exercisable	240,000
Exercise price | $ / shares	$ 0.45
Weighted average remaining contractual life (years)	21 days
Options Expiring January 26, 2026 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	4,743,000
Options exercisable	4,743,000
Exercise price | $ / shares	$ 0.39
Weighted average remaining contractual life (years)	1 year 4 months 2 days
Options Expiring February 25, 2026 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	597,000
Options exercisable	597,000
Exercise price | $ / shares	$ 1.60
Weighted average remaining contractual life (years)	2 months 1 day
OptionsExpiring September29, 2026 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	1,343,850
Options exercisable	1,343,850
Exercise price | $ / shares	$ 0.91
Weighted average remaining contractual life (years)	5 months 12 days
Options Expiring October 25, 2026 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	998,794
Options exercisable	998,794
Exercise price | $ / shares	$ 2
Weighted average remaining contractual life (years)	4 months 2 days
Options Expiring January 20, 2027 [Member]
IfrsStatementLineItems [Line Items]
Options outstanding	2,740,400
Options exercisable	2,740,400
Exercise price | $ / shares	$ 2.62
Weighted average remaining contractual life (years)	1 year

SHARE CAPITAL, WARRANTS AND O_3

SHARE CAPITAL, WARRANTS AND OPTIONS (Details Narrative)					2 Months Ended	3 Months Ended		7 Months Ended		9 Months Ended			12 Months Ended
	Aug. 03, 2022 CAD ($) $ / shares shares		Apr. 28, 2022 USD ($) $ / shares shares	Apr. 28, 2022 CAD ($) shares	Sep. 30, 2022 CAD ($) shares	Sep. 30, 2022 CAD ($) shares	Sep. 30, 2021 CAD ($) shares	Aug. 03, 2022 CAD ($) shares $ / shares		Sep. 30, 2022 USD ($) shares $ / shares	Sep. 30, 2022 CAD ($) shares	Sep. 30, 2021 CAD ($) shares	Dec. 31, 2021 CAD ($) shares	Sep. 30, 2022 CAD ($) $ / shares shares	Jun. 30, 2022 CAD ($)	Apr. 30, 2022 shares	Apr. 26, 2022 $ / shares shares	Dec. 31, 2021 $ / shares	Dec. 31, 2021 CAD ($) shares	Feb. 26, 2021 USD ($)	Dec. 31, 2020 shares
IfrsStatementLineItems [Line Items]
Convertible preferred shares	13,131
Subscription Receipts price | (per share)	$ 0.39		$ 2					$ 0.39
Issuance of subscription receipts units			8,936,167	8,936,167
Subscription receipts gross proceed			$ 17,870,000	$ 22,390,000
Share capital issued																310,000
Share capital issued through exercise of warrants					300,000					115,442,343	115,442,343		80,820,623
Proceeds from exercise of options | $					$ 117,000
Capital reserve | $	$ 101,531							$ 101,531						$ 17,028,930					$ 1,261,891
Number of shares outstanding	31,748,399							31,748,399						115,442,343
Common shares issued | $																				$ 10,000,000
Warrants | $															$ 28,275,256
Share based payment expense | $						$ 4,183,657					$ 6,776,752	$ 761,480
Increase (Decrease) through expiry of options and warrants, equity | $											6,776,752		$ 1,261,891
Share-based payments | $											$ 3,120,568
Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Number of stock option granted										2,600,000	2,600,000
Period of options granted										5 years	5 years
Stock options exercisable price per share | (per share)										$ 2				$ 2.49				$ 0.96
Proceeds from private palcement | $										$ 20,000,000
Share based payment expense | $													$ 6,776,752
Bottom of range [member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant | $ / shares														1
Top of range [member]
IfrsStatementLineItems [Line Items]
Exercise price of warrant | $ / shares														9
Period of options granted										10 years	10 years
Top of range [member] | Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Number of stock option granted										22,600,000	22,600,000
Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Share capital issued	82,157,536							82,157,536
Share capital issued through exercise of warrants					1,236,408
Proceeds from exercise of options | $					$ 569,399
Capital reserve | $	$ 3,019,037							$ 3,019,037
Post-consolidation Basis [Member] | Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Number of stock option granted					8,827,250
Post-consolidation Basis [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Subscription Receipts price | $ / shares	$ 0.45							$ 0.45
Post-consolidation Basis [Member] | Top of range [member]
IfrsStatementLineItems [Line Items]
Subscription Receipts price | $ / shares														$ 1.75
Prior Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Share capital issued														82,157,536
Prior Consolidation Basis [Member] | Stock Option Plan [Member]
IfrsStatementLineItems [Line Items]
Number of stock option granted								2,600,000
North American Nickel [Member]
IfrsStatementLineItems [Line Items]
Subscription Receipts price | $ / shares																	$ 0.58
Share capital issued through exercise of warrants					113,905,935					7,667,707	7,667,707
Number of shares outstanding	85,616,075	[1]						85,616,075	[1]								158,741,995		76,679,908		64,083,487
North American Nickel [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Share capital issued through exercise of warrants					85,616,075
North American Nickel [Member] | Post-consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Subscription Receipts price | $ / shares														$ 1.054
Share capital issued through exercise of warrants					77,948,368
Number of shares outstanding	31,748,399							31,748,399											26,240,926		21,966,730
North American Nickel [Member] | Prior Consolidation Basis [Member]
IfrsStatementLineItems [Line Items]
Share capital issued	31,748,399							31,748,399
Series 1 Convertible Preferred Shares [member]
IfrsStatementLineItems [Line Items]
Convertible preferred shares						100,000,000
Series 1 Preferred Shares [Member]
IfrsStatementLineItems [Line Items]
Number of shares outstanding							118,186					118,186		118,186
[1]Before the closing of the RTO, NAN owned 7,667,707 85,616,075

SCHEDULE OF AMOUNTS DUE TO RELA

SCHEDULE OF AMOUNTS DUE TO RELATED PARTIES, INCLUDED IN TRADE PAYABLES AND ACCRUED LIABILITIES (Details) - CAD ($)	Sep. 30, 2022	Mar. 03, 2022	Dec. 31, 2021
IfrsStatementLineItems [Line Items]
Total	$ 32,860	$ 2,067,180	$ 225,904
Directors and Officers Company [Member]
IfrsStatementLineItems [Line Items]
Total	32,860	35,000	26,759
Related Company [Member]
IfrsStatementLineItems [Line Items]
Total		1,270,000	$ 199,145
Three D Capital [Member]
IfrsStatementLineItems [Line Items]
Total		$ 762,180

SCHEDULE OF KEY MANAGEMENT COMP

SCHEDULE OF KEY MANAGEMENT COMPENSATION (Details) - CAD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Related Party Transactions
Management fees	$ 1,701,211	$ 436,626
Due diligence BCL		90,000
Corporate and administration expenses	40,884	96,555
Total	$ 1,742,095	$ 623,181

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - CAD ($)	Apr. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
IfrsStatementLineItems [Line Items]
Number of common shares beneficially owned	326,740
Payment of promissory notes	$ 2,018,568
Number of common shares issued	310,000
Three D Capital [Member]
IfrsStatementLineItems [Line Items]
Number of common shares beneficially owned		1,213,538
Number of common shares beneficially owned, percentage		7.50%	9.14%
Three D Capital [Member] | Bottom of range [member]
IfrsStatementLineItems [Line Items]
Number of common shares beneficially owned		8,662,347	7,383,278
Related parties [member]
IfrsStatementLineItems [Line Items]
Number of common shares beneficially owned		1,279,069
Investment		$ 2,427,076	$ 374,123

SCHEDULE OF CONTRACTUAL OBLIGAT

SCHEDULE OF CONTRACTUAL OBLIGATIONS (Details)	Sep. 30, 2022 CAD ($)
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities	$ 3,733,495
Vehicle financing	172,800
Total	3,906,295
Later than six months and not later than one year [member]
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities	3,773,495
Vehicle financing	12,259
Total	3,822,803
Later than one year and not later than two years [member]
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities
Vehicle financing	49,038
Total	49,038
Later than two years and not later than five years [member]
IfrsStatementLineItems [Line Items]
Trade payables and accrued liabilities
Vehicle financing	111,503
Total	$ 111,503

SCHEDULE OF COMPONENTS OF EQUIT

SCHEDULE OF COMPONENTS OF EQUITY DEFICIENCY, LOANS AND BORROWING, OTHER CURRENT LIABILITIES, NET OF CASH (Details) - CAD ($)	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Shareholder’s equity (deficiency)	$ 47,983,628		$ (4,316,964)	$ (3,419,553)		$ (2,654,845)
Current liabilities	3,773,495		580,486
Cash	(5,756,642)	$ (2,740,881)	(1,990,203)	$ (3,218,638)	$ (1,922,102)	$ (108,853)
Contractual Obligation [Member]
IfrsStatementLineItems [Line Items]
Shareholder’s equity (deficiency)	123,359,195		(4,316,964)
Current liabilities	3,773,495		580,486
Total liabilities and equity	127,132,690		(3,736,478)
Cash	(5,756,642)		(1,990,203)
Total	$ 121,376,048		$ (5,726,681)

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - Non-adjusting Events After Reporting Period [Member] - Pinnacle Island LP [Member]	Nov. 21, 2022 CAD ($) $ / shares shares
IfrsStatementLineItems [Line Items]
Bridge loan	$ 7,000,000
Proceeds from loans	6,740,000
Commitment fee	260,000
Promissory note principal amount	$ 7,000,000
Commitment fee	10%
Maturity date	February 22, 2023
Extend maturity date description	extend the maturity date to March 22, 2023
Common shares issued to purchase of warrants | shares	119,229
Exercise price | $ / shares	$ 2.04