37 Capital (HHHEF) 20-F 16 May 22 2021 FY Annual report (foreign) Financial data

Cover

Cover - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Entity Addresses [Line Items]
Document Type		20-F
Amendment Flag		false
Document Registration Statement		false
Document Annual Report		true
Document Transition Report		false
Document Shell Company Report		false
Document Period End Date		Dec. 31, 2021
Document Fiscal Period Focus		FY
Document Fiscal Year Focus		2021
Current Fiscal Year End Date		--12-31
Entity File Number		000-16353
Entity Registrant Name		37 CAPITAL INC.
Entity Central Index Key		0000825171
Entity Incorporation, State or Country Code		A1
Entity Address, Address Line One		Suite 303
Entity Address, Address Line Two		570 Granville Street
Entity Address, City or Town		Vancouver
Entity Address, State or Province		BC
Entity Address, Country		CA
Entity Address, Postal Zip Code		V6C 3P1
Entity Well-known Seasoned Issuer		No
Entity Voluntary Filers		No
Entity Current Reporting Status		Yes
Entity Interactive Data Current		Yes
Entity Filer Category		Non-accelerated Filer
Entity Emerging Growth Company		false
Document Accounting Standard		International Financial Reporting Standards
Entity Shell Company		true
Entity Common Stock, Shares Outstanding		0
Auditor Name		DALE MATHESON CARR-HILTON LABONTE LLP
Auditor Firm ID		1173
Auditor Location		Vancouver, Canada
Business Contact [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One		Suite 303
Entity Address, Address Line Two		570 Granville Street
Entity Address, City or Town		Vancouver
Entity Address, State or Province		BC
Entity Address, Country		CA
Entity Address, Postal Zip Code		V6C 3P1
City Area Code	604
Local Phone Number	681-0204
Contact Personnel Name	Jacob Kalpakian

Balance Sheets

Balance Sheets - CAD ($)	Dec. 31, 2021	Dec. 31, 2020
Current
Cash	$ 1,611	$ 9
GST receivable	502	562
Total current assets	2,113	571
Mineral Property Interests (note 5)		40,001
Investment (note 17)		1
Total Assets	2,113	40,573
Liabilities and Stockholders’ Deficiency
Accounts payable and accrued liabilities (note 6)	150,001	255,184
Due to related parties (note 7)	34,756	308,936
Refundable subscription (note 8)		30,000
Loan payable (note 9)	52,973	103,924
Convertible debentures (note 10)	459,589	639,191
Total Liabilities	697,319	1,337,235
Stockholders’ Deficiency
Capital stock (note 11)	27,511,269	25,864,950
Equity portion of convertible debentures (note 10)	33,706	33,706
Deficit	(28,240,181)	(27,195,318)
Total Stockholders’ Deficiency	(695,206)	(1,296,662)
Total Liabilities and Stockholders’ Deficiency	$ 2,113	$ 40,573

Statements of Comprehensive Los

Statements of Comprehensive Loss - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Expenses
Finance and interest (notes 7, 9 and 10)	$ 36,227	$ 54,618	$ 55,265
Foreign exchange loss	318
Legal, accounting and audit	21,545	31,702	27,204
Office, rent and miscellaneous (note 7)	26,133	39,847	56,058
Regulatory and transfer fees	30,992	3,340	4,596
Consulting			879
Travel, meals and entertainment	12
Loss on debt settlement (note 11)	887,222
Impairment loss (note 5 and 17)	40,002
Shareholder communications	2,412	3,872	3,135
Total expenses	1,044,863	133,379	147,137
Net and comprehensive Loss for the Year	$ (1,044,863)	$ (133,379)	$ (147,137)
Basic and Diluted Loss per Common Share	$ (0.24)	$ (0.09)	$ (0.10)
Weighted Average Number of Common Shares Outstanding	4,287,906	1,427,571	1,423,364

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity Deficiency - CAD ($)	Issued capital [member]	Equity Portion Of Convertible Debentures Reserve [Member]	Retained earnings [member]	Total
Beginning balance, value at Dec. 31, 2018	$ 25,849,950	$ 33,706	$ (26,914,802)	$ (1,031,146)
Beginning balance, Shares at Dec. 31, 2018	1,418,542
IfrsStatementLineItems [Line Items]
Net loss for the year			(147,137)	(147,137)
Shares issued for mineral property interest	$ 7,500			7,500
Shares issued for mineral property interest, Shares	20,000
Ending balance, value at Dec. 31, 2019	$ 25,857,450	33,706	(27,061,939)	(1,170,783)
Ending balance, Shares at Dec. 31, 2019	1,438,542
IfrsStatementLineItems [Line Items]
Net loss for the year			(133,379)	(133,379)
Shares issued for mineral property interest	$ 7,500			7,500
Shares issued for mineral property interest, Shares	20,000
Ending balance, value at Dec. 31, 2020	$ 25,864,950	33,706	(27,195,318)	(1,296,662)
Ending balance, Shares at Dec. 31, 2020	1,458,542
IfrsStatementLineItems [Line Items]
Net loss for the year			(1,044,863)	(1,044,863)
Private placement, net of issuance of costs	$ 20,000			20,000
Private placement, net of issuance of costs, shares	80,000
Shares issued in settlement of debts, net of issuance of costs	$ 1,626,319			1,626,319
Shares issued in settlement of debts, net of issuance of costs, shares	2,957,406
Fractional share adjustment
Fractional share adjustment, shares	(1)
Ending balance, value at Dec. 31, 2021	$ 27,511,269	$ 33,706	$ (28,240,181)	$ (695,206)
Ending balance, Shares at Dec. 31, 2021	4,495,947

Statements of Cash Flows

Statements of Cash Flows - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net loss	$ (1,044,863)	$ (133,379)	$ (147,137)
Items not involving cash:
Interest expense on loan and convertible debentures	31,723	45,000	45,000
Impairment loss of investment (note 17)	1
Impairment loss of mineral property (note 5)	40,001
Loss on debt settlement	887,222
Total Operating Activities	(85,916)	(88,379)	(102,137)
Changes in non-cash working capital (note 12)	37,489	88,350	125,130
Cash provided by (used in) operating activities	(48,427)	(29)	22,993
Investing Activities
Purchase of mineral property interest			(25,000)
Cash used in investing activities			(25,000)
Financing Activities
Share issue cost	(254)
Proceeds from loan payable	50,000
Proceed from related party loan	44,240
Repayment of loan from related party	(43,957)
Cash provided by financing activities	50,029
Net increase (decrease) in cash	1,602	(29)	(2,007)
Cash, beginning	9	38	2,045
Cash, ending	$ 1,611	$ 9	$ 38

NATURE OF BUSINESS

NATURE OF BUSINESS	12 Months Ended
	Dec. 31, 2021
Nature Of Business
NATURE OF BUSINESS	1. NATURE OF BUSINESS 37 Capital Inc. (“37 Capital” or the “Company”) was incorporated on August 24, 1984 British Columbia, Canada The shares of the Company trade on the Canadian Securities Exchange (the “Exchange”) under the symbol “JJJ.X”, and trade on the OTC Pink tier of the OTC markets in the United States of America under the symbol “HHHEF”. The Company’s office is located at 303 – 570 Granville Street, Vancouver, British Columbia, Canada, V6C 3P1 and its registered office is located at 3200-650 West Georgia Street, Vancouver BC V6B 4P7. Effective June 15, 2021, the Company consolidated its capital stock on the basis of 5 pre-consolidation common shares to 1 post-consolidation common share. The Cusip number of the Company’s common shares is 88429G201. All the figures as to the number of common shares, stock options, warrants, prices of issued shares, exercise prices of stock options and warrants, as well as loss per share, in the financial statements are post-consolidation amounts and the prior year comparatives have been retroactively restated to present the post-consolidation amounts. In March 2020, the World Health Organization declared a global pandemic related to the coronavirus known as COVID-19. The expected impacts on global commerce are anticipated to be far reaching. To date there have been significant wide-spread adverse financial impact globally, and the movement of people and goods has become restricted. As the Company has no material operating income or cash flows, it is reliant on additional financing to fund ongoing operations. An extended disruption may affect the Company’s ability to obtain additional financing. As such, the Company may not be able to raise the required funds and may not be able to conduct exploration works on its mineral property interest in a timely manner. The impact on the economy and the Company is not yet determinable; however, the Company’s financial position, results of operations and cash flows in future periods may be materially affected. In particular, there may be heightened risk of asset impairment and liquidity thus creating further going concern uncertainty.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2021
Going Concern
GOING CONCERN	2. GOING CONCERN These financial statements have been prepared on the basis of accounting principles applicable to a "going concern", which assumes that the Company will continue in operation for the foreseeable future and will be able to realize its assets and discharge its liabilities in the normal course of operations. Several adverse conditions cast substantial doubt on the validity of this assumption. The Company has incurred significant losses over the past three fiscal years. As of December 31, 2021, the Company has an accumulated deficit of $ 28,240,181 695,206 The application of the going concern concept is dependent upon the Company’s ability to raise sufficient funding to pay creditors and to satisfy its liabilities as they become due. Management is actively engaged in the review and due diligence on opportunities of merit and is seeking to raise the necessary capital to meet its funding requirements. There can be no assurance whatsoever that management’s plan will be successful. If the going concern assumption were not appropriate for these financial statements then adjustments may be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used. Such adjustments could be material.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2021
Basis Of Presentation
BASIS OF PRESENTATION	3. BASIS OF PRESENTATION (a) Statement of compliance These financial statements are prepared in accordance with the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”) and interpretations issued by the International Financial Reporting interpretation Committee (“IFRIC”). (b) Basis of presentation These financial statements have been prepared on a historical cost basis, except for certain financial instruments which are measured at fair value. In addition, these financial statements have been prepared on the accrual basis, except for cash flow information. These financial statements are presented in Canadian dollars, which is the Company’s functional currency. (c) Approval of the financial statements These financial statements were approved and authorized for issue by the Board of Directors on May 4, 2022. (d) Reclassification Certain prior period amounts in these financial statements have been reclassified to conform to current period’s presentation. These reclassifications had no net effect on the results of operations or financial position for any period presented. (e) Use of estimates and judgments The preparation of financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates will, by definition, seldom equal the actual results. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. The key area of judgment applied in the preparation of the financial statements that could result in a material adjustment to the carrying amounts of assets and liabilities is as follows: • assessment of the Company’s ability to continue as a going concern and whether there are events or conditions that give rise to significant uncertainty; • the classification/allocation of expenses as exploration and evaluation expenditures or operating expenses; and • the determination whether there have been any events or changes in circumstances that indicate the impairment of its exploration and evaluations assets. The key estimates applied in the preparation of the financial statements that could result in a material adjustment to the carrying amounts of assets and liabilities are as follows: • The recoverability of the carrying value of exploration and evaluation assets; • The provision for income taxes and recognition of deferred income tax assets and liabilities; and • The inputs in determining the liability and equity components of the convertible debentures.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
SIGNIFICANT ACCOUNTING POLICIES	4. SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies of the Company include the following: (a) Financial instruments (i) Recognition and classification The Company classifies its financial instruments in the following categories: • At fair value through profit and loss (“FVTPL”): cash • At fair value through other comprehensive income (loss) (“FVTOCI”) • Amortized cost: accounts payable and accrued liabilities, due to related parties, refundable subscription, loan payable and convertible debentures. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL. (ii) Measurement Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the statements of comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the statements of comprehensive loss in the period in which they arise. Debt investments at FVTOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive loss (“OCI”). On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Equity investments at FVTOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. (iii) Impairment of financial assets at amortized cost The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the statements of comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized. (iv) Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Financial liabilities The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Gains and losses on derecognition are generally recognized in profit or loss. (b) Mineral property interests Costs directly related to the acquisition, exploration and evaluation of resource properties are capitalized once the legal rights to explore the resource properties are acquired. If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined impairment in value, the property is written down to its recoverable amount. From time to time, the Company acquires or disposes properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee, and accordingly, are recorded as mineral property costs or recoveries when the payments are made or received. After costs are recovered, the balance of the payments received is recorded as a gain on option or disposition of mineral property. Once the technical feasibility and commercial viability of the extraction of mineral resources are demonstrable, mineral property interests attributable to that area of interest are first tested for impairment and then reclassified to mining property and development assets within property and equipment. To date, the Company’s mineral property interest has not demonstrated technical feasibility and commercial viability. The recoverability of the carrying amount of any mineral property interests is dependent on successful development and commercial exploitation or, alternatively, sale of the respective areas of interest. (c) Impairment At the end of each reporting period, the Company’s assets are reviewed to determine whether there is any indication that those assets may be impaired. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in profit or loss for the period. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. When an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss. (d) Decommissioning liabilities An obligation to incur decommissioning and site rehabilitation costs occurs when environmental disturbance is caused by exploration, evaluation, development or ongoing production. Decommissioning and site rehabilitation costs arising from the installation of plant and other site preparation work, discounted to their net present value, are provided when the obligation to incur such costs arises and are capitalized into the cost of the related asset. These costs are charged against operations through depreciation of the asset and unwinding of the discount on the provision. Depreciation is included in operating costs while the unwinding of the discount is included as a financing cost. Changes in the measurement of a liability relating to the decommissioning or site rehabilitation of plant and other site preparation work are added to, or deducted from, the cost of the related asset. The costs for the restoration of site damage, which arises during production, are provided at their net present values and charged against operations as extraction progresses. Changes in the measurement of a liability, which arise during production, are charged against operating profit. The discount rate used to measure the net present value of the obligations is the pre-tax rate that reflects the current market assessment of the time value of money and the risks specific to the obligation. To date the Company does not have any decommissioning liabilities. (e) Income taxes Income tax expense consisting of current and deferred tax expense is recognized to profit or loss. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period-end, adjusted for amendments to tax payable with regard to previous years. Deferred tax assets and liabilities and the related deferred income tax expense or recovery are recognized for deferred tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted or substantively enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that substantive enactment occurs. A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. (f) Share-based payments The Company grants stock options to directors, officers, employees and consultants of the Company. The fair value of share-based payments to employees is measured at grant date, using the Black-Scholes Option Pricing Model, and is recognized over the vesting period using the graded method. Fair value of share-based payments for non-employees is recognized and measured at the date the goods or services are received based on the fair value of the goods or services received. If it is determined that the fair value of goods and services received cannot be reliably measured, the share-based payment is measured at the fair value of the equity instruments issued using the Black-Scholes Option Pricing Model. For both employees and non-employees, the fair value of share-based payments is recognized as either an expense or as mineral property interests with a corresponding increase in option reserves. The amount to be recognized as expense is adjusted to reflect the number of share options expected to vest. Consideration received on the exercise of stock options is recorded in capital stock and the related share-based payment is transferred from the stock option reserve to capital stock. For unexercised options that expire, the recorded value is transferred to deficit. (g) Convertible debentures The liability component of convertible debentures is recognized initially at the fair value of a similar liability that does not have a conversion option. The equity component is recognized initially, as the difference between the fair value of the convertible debenture as a whole and the fair value of the liability component. Transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of the convertible debenture is measured at amortized cost using the effective interest method. The equity component is not re-measured subsequent to initial recognition. (h) Loss per share Loss per share is calculated by dividing net loss attributable to common shares of the Company by the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method for calculating diluted loss per share. Under this method, the dilutive effect on earnings per share is calculated on the use of the proceeds that could be obtained upon exercise of options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to purchase common shares at the average market price during the period. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive. (i) Capital stock Proceeds from the exercise of stock options and warrants are recorded as capital stock. The proceeds from the issuance of units of the Company are allocated between common shares and warrants based on the residual value method. Under this method, the proceeds are allocated first to capital stock based on the fair value of the common shares at the time the units are issued and any residual value is allocated to the warrants. When the warrants are exercised, the related value is transferred from the warrant reserve to capital stock. For unexercised warrants that expire, the recorded value is transferred from the warrant reserves to deficit. (j) Foreign currency translation Amounts recorded in foreign currency are translated into Canadian dollars as follows: (i) Monetary assets and liabilities, at the rate of exchange in effect as at the balance sheet date; (ii) Non-monetary assets and liabilities, at the exchange rates prevailing at the time of the acquisition of the assets or assumption of the liabilities; and (iii) Revenues and expenses (excluding amortization, which is translated at the same rate as the related asset), at the rate of exchange on the transaction date. Exchange differences are recognized in profit or loss in the period which they arise. (k) Accounting standards issued but not yet effective At the date of the approval of the financial statements, a number of standards and interpretations were issued but not effective. The Company considers that these new standards and interpretations are either not applicable or are not expected to have a significant impact on the Company’s financial statements.

MINERAL PROPERTY INTERESTS

MINERAL PROPERTY INTERESTS	12 Months Ended
	Dec. 31, 2021
Mineral Property Interests
MINERAL PROPERTY INTERESTS	5. MINERAL PROPERTY INTERESTS Schedule of mineral property interests Acacia Property Extra High Property Total Balance, December 31, 2018 $ — $ 1 $1 Acquisition costs 7,500 25,000 32,500 Balance, December 31, 2019 $ 7,500 $ 25,001 $32,501 Acquisition costs 7,500 — 7,500 Balance, December 31, 2020 $ 15,000 $ 25,001 $40,001 Impairment (15,000 ) (25,001 ) (40,001) Balance, December 31, 2021 $ — $ — $- Acacia Property On September 30, 2019, the Company entered into a property option agreement (the “Option Agreement”) with Eagle Plains Resources ltd. (“Eagle Plains”) to acquire a 60 • Issuance of 20,000 • Incur of a total of $ 100,000 • Issuance of 10,000 100,000 • Issuance of 10,000 300,000 • Issuance of 10,000 750,000 • Issuance of 10,000 1,250,000 Within a period of 30 days after each annual anniversary of the Option Agreement, the Company was required to decide whether or not it wishes to continue with the Option Agreement. On October 15, 2020, the Company entered into an amendment agreement to the Option Agreement with Eagle Plains as the Company was not able to incur the required amount of $ 100,000 st • Issuance of 20,000 • Commitment to incur $200,000 in property related expenditures during the 2nd period of the agreement. During November 2021, by mutual consent, the Company and Eagle Plains terminated the Option Agreement dated September 30, 2019 and the Amendment Agreement to the Option Agreement dated October 15, 2020. Accordingly, the Company recorded an impairment loss of $ 15,000 Extra High Property Previously the Company held a 33 On October 31, 2019, as amended on November 4, 2019, the Company entered into an agreement with Colt Resources Inc. (“Colt Resources”) to purchase the remaining 67 • a cash consideration of $ 100,000 • a 0.5% NSR from commercial production which may be purchased by the Company at any time by making a payment of $500,000. The Extra High Property claims are to expire on July 31, 2022. The agreement can be terminated by the Company at anytime without any monetary repercussions. As at December 31, 2021, the Company owns a 100% undivided right, interest and title in and to the Extra High Property. The Extra High Property is subject to a 1.5% Net Smelter Royalty (“NSR”) payable to a third party, 50% of which, or 0.75%, can be purchased by the Company at any time by paying $ 500,000 During the year ended December 31, 2021, the Company recorded an impairment loss of $ 25,001

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2021
Accounts Payable And Accrued Liabilities
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Schedule of accounts payable and accrued liabilities December 31, 2021 December 31, 2020 Trade payables $ 77,549 $ 151,093 Accrued liabilities 72,452 104,091 Accounts payable and accrued liabilities $ 150,001 $ 255,184

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related party transactions [abstract]
RELATED PARTY TRANSACTIONS	7. RELATED PARTY TRANSACTIONS The amounts due to related parties are unsecured, payable on demand which consist of the following: Amounts due to related parties December 31, 2021 December 31, 2020 Advances from directors (interest at prime plus 1%) $ — $ 153,291 Entities controlled by directors (non-interest-bearing) 34,756 155,645 Due to related parties $ 34,756 $ 308,936 Included in convertible debentures and accrued interest is $ 459,589 429,589 During the years ended December 31, the following amounts were charged by related parties. Amounts charged by related parties 2021 2020 2019 Interest charged on amounts due to related parties $ 275 $ 4,733 $ 5,452 Interest on convertible debentures 30,000 30,000 30,000 Rent charged by entities with common 12,000 12,000 12,000 Office expenses charged by, and other expenses paid on behalf of the Company by 13,901 12,000 28,784 Total expenses $ 56,176 $ 58,733 $ 76,236 The Company, together with Jackpot Digital Inc. (“Jackpot”), a related company with certain common directors, have entered into an office lease agreement, and an office support services agreement (Note 14).

REFUNDABLE SUBSCRIPTION

REFUNDABLE SUBSCRIPTION	12 Months Ended
	Dec. 31, 2021
Refundable Subscription
REFUNDABLE SUBSCRIPTION	8. REFUNDABLE SUBSCRIPTION During the year ended December 31, 2016, the Company cancelled subscription agreements of a non-brokered private placement totaling $ 45,000 35,000 10,000 10,000 40,000 0.55 12,000 During the year ended December 31, 2020, the Company received $ 20,000 80,000 0.25 0.50 2 80,000 0.25

LOAN PAYABLE

LOAN PAYABLE	12 Months Ended
	Dec. 31, 2021
Loan Payable
LOAN PAYABLE	9. LOAN PAYABLE During the year ended December 31, 2016, the Company entered into an agreement with an arm’s length party whereby the party paid certain debts owed by the Company. The loan was non-interest bearing, unsecured and due on demand. On January 25, 2021, the principal amount of $ 103,924 415,697 124,709 During May 2021, an arm’s length party has lent the Company the amount of $ 50,000 2,973

CONVERTIBLE DEBENTURES FINANCIN

CONVERTIBLE DEBENTURES FINANCING	12 Months Ended
	Dec. 31, 2021
Convertible Debentures Financing
CONVERTIBLE DEBENTURES FINANCING	10. CONVERTIBLE DEBENTURES FINANCING Convertible Debentures Financing 2015 On January 6, 2015, the Company closed a convertible debenture financing with two directors of the Company for the amount of $ 250,000 January 6, 2016 1.50 222,006 27,994 On October 29, 2021 the Company entered into an Addendum to the convertible debentures whereby the maturity date of the principal amount totaling $ 250,000 At December 31, 2021, the Company recorded interest expense of $ 30,000 250,000 209,589 179,589 Convertible Debentures Financing 2013 During the year ended December 31, 2013, the Company issued several convertible debentures for a total amount of $ 975,000 913,072 $ 61,928 During the year ended December 31 2021, the Company recorded interest expense of $nil (2020 - $ 15,000 833,409 0.55 100,000 250,023 The following table reconciles the fair value of the debentures to the carrying amount. Reconciles of fair value of debentures to carrying amount Liability Component Equity Component Total Balance, December 31, 2019 $ 594,191 $ 33,706 $ 627,897 Interest accrued 45,000 — 45,000 Balance, December 31, 2020 639,191 33,706 672,897 Interest accrued 30,000 — 30,000 Shares for debt issue (209,602 ) — (209,602 ) Balance, December 31, 2021 $ 459,589 $ 33,706 $ 493,295 (a) Authorized Unlimited number of common and preferred shares without par value. As of December 31, 2021, there are no preferred shares issued. (b) Issued As of December 31, 2021, there are 4,495,947 common shares issued and outstanding. On January 15, 2021, the Company issued 80,000 20,000 0.50 On January 25, 2021, the Company issued 2,957,406 0.25 739,351 2,957,406 1,626,573 887,222 During the year ended December 31, 2020, the Company issued 20,000 common shares at $0.375 per share to Eagle Plains pursuant to the Acacia Property Option Agreement (Note 5). During the year ended December 31, 2019, Jackpot sold 680,000 common shares of the Company through the facilities of the Exchange. As at December 31, 2020, Jackpot owned 9,997 common shares in the capital of the Company. In addition, Jackpot owns 689,997 share purchase warrants of the Company exercisable at $0.60 per share until November 2, 2022. During January 2021, Jackpot acquired 597,380 common shares of the Company at a deemed price of $0.25 per share pursuant to a debt settlement agreement dated December 11, 2020. As of December 31, 2021, Jackpot owns 607,377 common shares in the capital of the Company representing approximately 13.51% of the Company’s issued and outstanding common shares. (c) Warrants Warrants activity is as follows: Warrants activity Number of Warrants Weighted Average Exercise Price Balance, December 31, 2018 964,997 $ 0.60 Balance, December 31, 2019 and 2020 964,997 $ 0.60 Expired (100,000 ) $ 0.675 Issued 80,000 $ 0.50 Balance, December 31, 2021 944,997 $ 0.59 As of December 31, 2021, the following warrants were outstanding: Warrants outstanding Expiry Date Exercise Price Number of Warrants Outstanding November 2, 2022 0.60 864,997 January 15, 2023 0.50 80,000 944,997 The weighted average remaining contractual life for warrants outstanding at December 31, 2021 is 0.86 years (2020 -1.65 years). (d) Stock options The Company’s 2015 Stock Option Plan provides that the Board of Directors of the Company may grant to directors, officers, employees and consultants of the Company options to acquire up to 20% of the issued and outstanding common shares of the Company calculated from time to time on a rolling basis. The terms of the options are determined at the date of grant. As of December 31, 2021, there were no stock options outstanding (2020 – Nil).

CHANGES IN NON-CASH WORKING CAP

CHANGES IN NON-CASH WORKING CAPITAL	12 Months Ended
	Dec. 31, 2021
Changes In Non-cash Working Capital
CHANGES IN NON-CASH WORKING CAPITAL	12. CHANGES IN NON-CASH WORKING CAPITAL Schedule Of Changes in noncash working capital 2021 2020 2019 GST receivable $ 60 $ 78 $ 273 Accounts payable and accrued liabilities 8,698 226,068 15,622 Due to related parties 28,731 137,796 109,235 Changes in non-cash working capital $ 37,489 $ 88,350 $ 125,130 Supplemental information Non-cash items Interest expense included in convertible debt $ 30,000 $ 45,000 $ 45,000 Interest expense included in due to related parties $ — $ 3,961 $ 5,452 Shares issued for mineral property interests $ — $ 7,500 $ 7,500 Shares issued for debt $ 1,626,319 — —

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Taxes
INCOME TAXES	13. INCOME TAXES Income tax expense differs from the amount that would be computed by applying the Canadian statutory income tax rate of 27 Schedule of income tax expenses For the years ended December 31, 2021 2020 2019 Loss before income taxes $ 1,044,863 $ 133,379 $ 147,137 Statutory income tax rate 27 % 27 % 27 % Expected income tax benefit (282,113 ) 36,012 39,727 Items not deductible for income tax purposes 250,350 — (8 ) Underprovided in prior years 117,667 97,367 107,695 Unrecognized benefit of deferred tax assets (85,905 ) (133,379 ) (147,414 ) Income tax expense $ — $ — $ — The Company recognizes tax benefits on losses or other deductible amounts where it is probable the Company will generate sufficient taxable income to utilize deferred tax assets. The Company’s unrecognized deductible temporary differences and unused tax losses for which no deferred tax asset is recognized consist of the following amounts: Schedule of unrecognized deductible temporary differences and unused tax losses For the years ended December 31, 2021 2020 Excess of unused exploration expenditures over carrying value of mineral property interests $ 2,656,168 $ 2,656,168 Excess of undepreciated capital cost over carrying value of fixed assets 698,593 698,593 Non-refundable mining investment tax credits 247 247 Non-capital losses carried forward 4,336,148 4,218,481 Capital losses carried forward 993,649 993,649 Unrecognized deductible temporary differences $ 8,684,805 $ 8,567,138 At December 31, 2021, the Company has non-capital losses of $ 4,336,148 4,218,000 Schedule of unrecognized unused non-capital tax losses 2027 $ 590,000 $ 590,000 2028 306,000 306,000 2029 487,000 487,000 2030 454,000 454,000 2031 336,000 336,000 2032 122,000 122,000 2033 213,000 213,000 2034 457,000 457,000 2035 344,000 344,000 2036 284,000 284,000 2037 184,000 184,000 2038 161,000 161,000 2039 147,000 147,000 2040 133,000 133,000 2041 118,000 118,000 Unrecognized unused non-capital tax losses $ 4,336,000 $ 4,336,000 The Company has available approximate net capital losses of $ 994,000 2,656,000

COMMITMENTS

COMMITMENTS	12 Months Ended
	Dec. 31, 2021
Commitments
COMMITMENTS	14. COMMITMENTS (a) During April 2017, the Company together with Jackpot, a related company with common directors, entered into an office lease agreement with an arm’s length party (the “Office Lease Agreement”). The Office Lease Agreement had a 3 28,800 In respect to the Office Lease Agreement, effective as of May 1, 2018, Jackpot and the Company entered into an amending agreement whereby the Company shall have no further responsibilities, obligations or commitments in respect to the Office Lease Agreement. Under the amending agreement, the Company is required to pay a monthly rent of $ 1,000 (b) Effective as of May 1, 2018, the Company entered into an agreement for office support services with Jackpot for a term of one year. On May 1, 2019 the agreement was extended for a period of one year and has subsequently been extended up to April 30, 2022. Under the agreement, the Company is entitled to receive office support services from Jackpot at a monthly rate of $1,000 plus applicable taxes. Either Jackpot or the Company may terminate this agreement by giving each other a three months’ notice in writing. (c) With respect to the 80,000 flow-through units of the Company that were issued, the Company is committed to incur Canadian qualifying exploration expenditures during 2022 for the amount of $20,000.

CAPITAL MANAGEMENT

CAPITAL MANAGEMENT	12 Months Ended
	Dec. 31, 2021
Capital Management
CAPITAL MANAGEMENT	15. CAPITAL MANAGEMENT The Company considers its capital to be comprised of stockholders’ deficiency and convertible debenture. The Company’s objective when managing capital is to maintain adequate levels of funding to support the acquisition, exploration and, if warranted, the development of mineral properties, to invest in non-mining related projects and to maintain the necessary corporate and administrative functions to facilitate these activities. This is done primarily through equity and debt financing. Future financings are dependent on market conditions and there can be no assurance that the Company will be able to raise funds in the future. There were no changes to the Company’s approach to capital management during the year ended December 31, 2021. The Company is not subject to externally imposed capital requirements.

FINANCIAL INSTRUMENTS AND RISK

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	12 Months Ended
	Dec. 31, 2021
Financial Instruments And Risk Management
FINANCIAL INSTRUMENTS AND RISK MANAGEMENT	16. FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (a) Risk management overview The Company's activities expose it to a variety of financial risks including credit risk, liquidity risk and market risk. This note presents information about the Company's exposure to each of the above risks, the Company's objectives, policies and processes for measuring and managing risk, and the Company's management of capital. The Company employs risk management strategies and policies to ensure that any exposure to risk is in compliance with the Company's business objectives and risk tolerance levels. While the Board of Directors has the overall responsibility for the Company's risk management framework, the Company's management has the responsibility to administer and monitor these risks. (b) Fair value of financial instruments The fair values of cash, accounts payable and accrued liabilities, due to related parties, refundable subscription, loan payable and convertible debentures approximate their carrying values due to the short-term maturity of these instruments. IFRS establishes a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs). (c) Credit risk Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The financial instruments that potentially subject the Company to a significant concentration of credit risk consist of cash. The Company mitigates its exposure to credit loss associated with cash by placing its cash with a major financial institution. (d) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they are due. The Company's approach to managing liquidity is to ensure that it will have sufficient liquidity to meet its liabilities when due. At December 31, 2021, the Company had cash of $ 1,611 9 697,319 1,337,235 2,973 (e) Market risk Market risk is the risk that changes in market prices, such as interest rates and foreign exchange rates, will affect the Company's net earnings or the value of financial instruments. As at December 31, 2021, the Company is not exposed to significant interest rate risk, currency risk or other price risk on its financial assets and liabilities due to the short-term maturity of its financial liabilities and the fixed interest rate on the outstanding convertible debentures.

INVESTMENT

INVESTMENT	12 Months Ended
	Dec. 31, 2021
Investment
INVESTMENT	17. INVESTMENT In April 2013, the Company entered into a purchase and sale agreement with a Mexican gaming company, whereby the Company agreed to purchase a royalty revenue stream of an amount the greater of 10% of the net profits or 5% of the gross revenues of the Mexican land-based casino for a purchase price of $ 800,000 799,999

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Financial instruments	(a) Financial instruments (i) Recognition and classification The Company classifies its financial instruments in the following categories: • At fair value through profit and loss (“FVTPL”): cash • At fair value through other comprehensive income (loss) (“FVTOCI”) • Amortized cost: accounts payable and accrued liabilities, due to related parties, refundable subscription, loan payable and convertible debentures. The Company determines the classification of financial assets at initial recognition. The classification of debt instruments is driven by the Company’s business model for managing the financial assets and their contractual cash flow characteristics. Equity instruments that are held for trading are classified as FVTPL. For other equity instruments, on the day of acquisition the Company can make an irrevocable election (on an instrument-by-instrument basis) to designate them as at FVTOCI. Financial liabilities are measured at amortized cost, unless they are required to be measured at FVTPL (such as instruments held for trading or derivatives) or if the Company has opted to measure them at FVTPL. (ii) Measurement Financial assets and liabilities at amortized cost Financial assets and liabilities at amortized cost are initially recognized at fair value plus or minus transaction costs, respectively, and subsequently carried at amortized cost less any impairment. Financial assets and liabilities at FVTPL Financial assets and liabilities carried at FVTPL are initially recorded at fair value and transaction costs are expensed in the statements of comprehensive loss. Realized and unrealized gains and losses arising from changes in the fair value of the financial assets and liabilities held at FVTPL are included in the statements of comprehensive loss in the period in which they arise. Debt investments at FVTOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive loss (“OCI”). On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss. Equity investments at FVTOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in OCI and are never reclassified to profit or loss. (iii) Impairment of financial assets at amortized cost The Company recognizes a loss allowance for expected credit losses on financial assets that are measured at amortized cost. At each reporting date, the Company measures the loss allowance for the financial asset at an amount equal to the lifetime expected credit losses if the credit risk on the financial asset has increased significantly since initial recognition. If at the reporting date, the financial asset has not increased significantly since initial recognition, the Company measures the loss allowance for the financial asset at an amount equal to the twelve month expected credit losses. The Company shall recognize in the statements of comprehensive loss, as an impairment gain or loss, the amount of expected credit losses (or reversal) that is required to adjust the loss allowance at the reporting date to the amount that is required to be recognized. (iv) Derecognition Financial assets The Company derecognizes financial assets only when the contractual rights to cash flows from the financial assets expire, or when it transfers the financial assets and substantially all of the associated risks and rewards of ownership to another entity. Financial liabilities The Company derecognizes a financial liability when its contractual obligations are discharged or cancelled, or expire. The Company also derecognizes a financial liability when the terms of the liability are modified such that the terms and / or cash flows of the modified instrument are substantially different, in which case a new financial liability based on the modified terms is recognized at fair value. Gains and losses on derecognition are generally recognized in profit or loss.
Mineral property interests	(b) Mineral property interests Costs directly related to the acquisition, exploration and evaluation of resource properties are capitalized once the legal rights to explore the resource properties are acquired. If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined impairment in value, the property is written down to its recoverable amount. From time to time, the Company acquires or disposes properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee, and accordingly, are recorded as mineral property costs or recoveries when the payments are made or received. After costs are recovered, the balance of the payments received is recorded as a gain on option or disposition of mineral property. Once the technical feasibility and commercial viability of the extraction of mineral resources are demonstrable, mineral property interests attributable to that area of interest are first tested for impairment and then reclassified to mining property and development assets within property and equipment. To date, the Company’s mineral property interest has not demonstrated technical feasibility and commercial viability. The recoverability of the carrying amount of any mineral property interests is dependent on successful development and commercial exploitation or, alternatively, sale of the respective areas of interest.
Impairment	(c) Impairment At the end of each reporting period, the Company’s assets are reviewed to determine whether there is any indication that those assets may be impaired. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment. The recoverable amount is the higher of fair value less costs to sell and value in use. Fair value is determined as the amount that would be obtained from the sale of the asset in an arm’s length transaction between knowledgeable and willing parties. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount and the impairment loss is recognized in profit or loss for the period. For an asset that does not generate largely independent cash flows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. When an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but to an amount that does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit or loss.
Decommissioning liabilities	(d) Decommissioning liabilities An obligation to incur decommissioning and site rehabilitation costs occurs when environmental disturbance is caused by exploration, evaluation, development or ongoing production. Decommissioning and site rehabilitation costs arising from the installation of plant and other site preparation work, discounted to their net present value, are provided when the obligation to incur such costs arises and are capitalized into the cost of the related asset. These costs are charged against operations through depreciation of the asset and unwinding of the discount on the provision. Depreciation is included in operating costs while the unwinding of the discount is included as a financing cost. Changes in the measurement of a liability relating to the decommissioning or site rehabilitation of plant and other site preparation work are added to, or deducted from, the cost of the related asset. The costs for the restoration of site damage, which arises during production, are provided at their net present values and charged against operations as extraction progresses. Changes in the measurement of a liability, which arise during production, are charged against operating profit. The discount rate used to measure the net present value of the obligations is the pre-tax rate that reflects the current market assessment of the time value of money and the risks specific to the obligation. To date the Company does not have any decommissioning liabilities.
Income taxes	(e) Income taxes Income tax expense consisting of current and deferred tax expense is recognized to profit or loss. Current tax expense is the expected tax payable on the taxable income for the year, using tax rates enacted or substantively enacted at period-end, adjusted for amendments to tax payable with regard to previous years. Deferred tax assets and liabilities and the related deferred income tax expense or recovery are recognized for deferred tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using the enacted or substantively enacted tax rates expected to apply when the asset is realized or the liability settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that substantive enactment occurs. A deferred tax asset is recognized to the extent that it is probable that future taxable profits will be available against which the asset can be utilized. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis.
Share-based payments	(f) Share-based payments The Company grants stock options to directors, officers, employees and consultants of the Company. The fair value of share-based payments to employees is measured at grant date, using the Black-Scholes Option Pricing Model, and is recognized over the vesting period using the graded method. Fair value of share-based payments for non-employees is recognized and measured at the date the goods or services are received based on the fair value of the goods or services received. If it is determined that the fair value of goods and services received cannot be reliably measured, the share-based payment is measured at the fair value of the equity instruments issued using the Black-Scholes Option Pricing Model. For both employees and non-employees, the fair value of share-based payments is recognized as either an expense or as mineral property interests with a corresponding increase in option reserves. The amount to be recognized as expense is adjusted to reflect the number of share options expected to vest. Consideration received on the exercise of stock options is recorded in capital stock and the related share-based payment is transferred from the stock option reserve to capital stock. For unexercised options that expire, the recorded value is transferred to deficit.
Convertible debentures	(g) Convertible debentures The liability component of convertible debentures is recognized initially at the fair value of a similar liability that does not have a conversion option. The equity component is recognized initially, as the difference between the fair value of the convertible debenture as a whole and the fair value of the liability component. Transaction costs are allocated to the liability and equity components in proportion to their initial carrying amounts. Subsequent to initial recognition, the liability component of the convertible debenture is measured at amortized cost using the effective interest method. The equity component is not re-measured subsequent to initial recognition.
Loss per share	(h) Loss per share Loss per share is calculated by dividing net loss attributable to common shares of the Company by the weighted average number of common shares outstanding during the year. The Company uses the treasury stock method for calculating diluted loss per share. Under this method, the dilutive effect on earnings per share is calculated on the use of the proceeds that could be obtained upon exercise of options, warrants and similar instruments. It assumes that the proceeds of such exercise would be used to purchase common shares at the average market price during the period. However, the calculation of diluted loss per share excludes the effects of various conversions and exercise of options and warrants that would be anti-dilutive.
Capital stock	(i) Capital stock Proceeds from the exercise of stock options and warrants are recorded as capital stock. The proceeds from the issuance of units of the Company are allocated between common shares and warrants based on the residual value method. Under this method, the proceeds are allocated first to capital stock based on the fair value of the common shares at the time the units are issued and any residual value is allocated to the warrants. When the warrants are exercised, the related value is transferred from the warrant reserve to capital stock. For unexercised warrants that expire, the recorded value is transferred from the warrant reserves to deficit.
Foreign currency translation	(j) Foreign currency translation Amounts recorded in foreign currency are translated into Canadian dollars as follows: (i) Monetary assets and liabilities, at the rate of exchange in effect as at the balance sheet date; (ii) Non-monetary assets and liabilities, at the exchange rates prevailing at the time of the acquisition of the assets or assumption of the liabilities; and (iii) Revenues and expenses (excluding amortization, which is translated at the same rate as the related asset), at the rate of exchange on the transaction date. Exchange differences are recognized in profit or loss in the period which they arise.
Accounting standards issued but not yet effective	(k) Accounting standards issued but not yet effective At the date of the approval of the financial statements, a number of standards and interpretations were issued but not effective. The Company considers that these new standards and interpretations are either not applicable or are not expected to have a significant impact on the Company’s financial statements.

MINERAL PROPERTY INTERESTS (Tab

MINERAL PROPERTY INTERESTS (Tables)	12 Months Ended
	Dec. 31, 2021
Mineral Property Interests
Schedule of mineral property interests	Schedule of mineral property interests Acacia Property Extra High Property Total Balance, December 31, 2018 $ — $ 1 $1 Acquisition costs 7,500 25,000 32,500 Balance, December 31, 2019 $ 7,500 $ 25,001 $32,501 Acquisition costs 7,500 — 7,500 Balance, December 31, 2020 $ 15,000 $ 25,001 $40,001 Impairment (15,000 ) (25,001 ) (40,001) Balance, December 31, 2021 $ — $ — $-

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounts Payable And Accrued Liabilities
Schedule of accounts payable and accrued liabilities	Schedule of accounts payable and accrued liabilities December 31, 2021 December 31, 2020 Trade payables $ 77,549 $ 151,093 Accrued liabilities 72,452 104,091 Accounts payable and accrued liabilities $ 150,001 $ 255,184

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2021
Related party transactions [abstract]
Amounts due to related parties	Amounts due to related parties December 31, 2021 December 31, 2020 Advances from directors (interest at prime plus 1%) $ — $ 153,291 Entities controlled by directors (non-interest-bearing) 34,756 155,645 Due to related parties $ 34,756 $ 308,936
Amounts charged by related parties	Amounts charged by related parties 2021 2020 2019 Interest charged on amounts due to related parties $ 275 $ 4,733 $ 5,452 Interest on convertible debentures 30,000 30,000 30,000 Rent charged by entities with common 12,000 12,000 12,000 Office expenses charged by, and other expenses paid on behalf of the Company by 13,901 12,000 28,784 Total expenses $ 56,176 $ 58,733 $ 76,236

CONVERTIBLE DEBENTURES FINANC_2

CONVERTIBLE DEBENTURES FINANCING (Tables)	12 Months Ended
	Dec. 31, 2021
Convertible Debentures Financing
Reconciles of fair value of debentures to carrying amount	Reconciles of fair value of debentures to carrying amount Liability Component Equity Component Total Balance, December 31, 2019 $ 594,191 $ 33,706 $ 627,897 Interest accrued 45,000 — 45,000 Balance, December 31, 2020 639,191 33,706 672,897 Interest accrued 30,000 — 30,000 Shares for debt issue (209,602 ) — (209,602 ) Balance, December 31, 2021 $ 459,589 $ 33,706 $ 493,295
Warrants activity	Warrants activity Number of Warrants Weighted Average Exercise Price Balance, December 31, 2018 964,997 $ 0.60 Balance, December 31, 2019 and 2020 964,997 $ 0.60 Expired (100,000 ) $ 0.675 Issued 80,000 $ 0.50 Balance, December 31, 2021 944,997 $ 0.59
Warrants outstanding	Warrants outstanding Expiry Date Exercise Price Number of Warrants Outstanding November 2, 2022 0.60 864,997 January 15, 2023 0.50 80,000 944,997

CHANGES IN NON-CASH WORKING C_2

CHANGES IN NON-CASH WORKING CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2021
Changes In Non-cash Working Capital
Schedule Of Changes in noncash working capital	Schedule Of Changes in noncash working capital 2021 2020 2019 GST receivable $ 60 $ 78 $ 273 Accounts payable and accrued liabilities 8,698 226,068 15,622 Due to related parties 28,731 137,796 109,235 Changes in non-cash working capital $ 37,489 $ 88,350 $ 125,130 Supplemental information Non-cash items Interest expense included in convertible debt $ 30,000 $ 45,000 $ 45,000 Interest expense included in due to related parties $ — $ 3,961 $ 5,452 Shares issued for mineral property interests $ — $ 7,500 $ 7,500 Shares issued for debt $ 1,626,319 — —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes
Schedule of income tax expenses	Schedule of income tax expenses For the years ended December 31, 2021 2020 2019 Loss before income taxes $ 1,044,863 $ 133,379 $ 147,137 Statutory income tax rate 27 % 27 % 27 % Expected income tax benefit (282,113 ) 36,012 39,727 Items not deductible for income tax purposes 250,350 — (8 ) Underprovided in prior years 117,667 97,367 107,695 Unrecognized benefit of deferred tax assets (85,905 ) (133,379 ) (147,414 ) Income tax expense $ — $ — $ —
Schedule of unrecognized deductible temporary differences and unused tax losses	Schedule of unrecognized deductible temporary differences and unused tax losses For the years ended December 31, 2021 2020 Excess of unused exploration expenditures over carrying value of mineral property interests $ 2,656,168 $ 2,656,168 Excess of undepreciated capital cost over carrying value of fixed assets 698,593 698,593 Non-refundable mining investment tax credits 247 247 Non-capital losses carried forward 4,336,148 4,218,481 Capital losses carried forward 993,649 993,649 Unrecognized deductible temporary differences $ 8,684,805 $ 8,567,138
Schedule of unrecognized unused non-capital tax losses	Schedule of unrecognized unused non-capital tax losses 2027 $ 590,000 $ 590,000 2028 306,000 306,000 2029 487,000 487,000 2030 454,000 454,000 2031 336,000 336,000 2032 122,000 122,000 2033 213,000 213,000 2034 457,000 457,000 2035 344,000 344,000 2036 284,000 284,000 2037 184,000 184,000 2038 161,000 161,000 2039 147,000 147,000 2040 133,000 133,000 2041 118,000 118,000 Unrecognized unused non-capital tax losses $ 4,336,000 $ 4,336,000

NATURE OF BUSINESS (Details Nar

NATURE OF BUSINESS (Details Narrative)	12 Months Ended
	Dec. 31, 2021
Nature Of Business
Entity Incorporation, Date of Incorporation	Aug. 24, 1984
Entity Incorporation, State Country code	A1

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - CAD ($)	Dec. 31, 2021	Dec. 31, 2020
Going Concern
Accumulated deficit	$ 28,240,181	$ 27,195,318
Working capital deficiency	$ 695,206

MINERAL PROPERTY INTERESTS (Det

MINERAL PROPERTY INTERESTS (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	$ 40,001	$ 32,501	$ 1
Acquisition costs		7,500	32,500
Impairment	(40,001)
Balance, December 31, 2021		40,001	32,501
Acacia Property [Member]
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	15,000	7,500
Acquisition costs		7,500	7,500
Impairment	(15,000)
Balance, December 31, 2021		15,000	7,500
Extra High Property [Member]
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	25,001	25,001	1
Acquisition costs			25,000
Impairment	(25,001)
Balance, December 31, 2021		$ 25,001	$ 25,001

MINERAL PROPERTY INTERESTS (D_2

MINERAL PROPERTY INTERESTS (Details Narrative) - CAD ($)	1 Months Ended		12 Months Ended
	Nov. 30, 2021	Apr. 30, 2013	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
IfrsStatementLineItems [Line Items]
Impairment loss	$ 15,000	$ 799,999	$ 40,002
Eagle Plains [Member]
IfrsStatementLineItems [Line Items]
Stock issued			20,000
Eagle Plains [Member] | first anniversary of Option Agreement [Member]
IfrsStatementLineItems [Line Items]
Number of common stock issued			20,000
Value of common stock issued			$ 100,000
Eagle Plains [Member] | Second anniversary of Option Agreement [Member]
IfrsStatementLineItems [Line Items]
Number of common stock issued			10,000
Value of common stock issued			$ 100,000
Eagle Plains [Member] | Third anniversary of Option Agreement [Member]
IfrsStatementLineItems [Line Items]
Number of common stock issued			10,000
Value of common stock issued			$ 300,000
Eagle Plains [Member] | Fourth anniversary of Option Agreement [Member]
IfrsStatementLineItems [Line Items]
Number of common stock issued			10,000
Value of common stock issued			$ 750,000
Eagle Plains [Member] | Fifth anniversary of Option Agreement [Member]
IfrsStatementLineItems [Line Items]
Number of common stock issued			10,000
Value of common stock issued			$ 1,250,000
Extra High Claims
IfrsStatementLineItems [Line Items]
Percentage of holding			33.00%
Colt Resources
IfrsStatementLineItems [Line Items]
Percentage of holding			67.00%
Acacia Property [Member]
IfrsStatementLineItems [Line Items]
Percentage of holding			60.00%
Property related expenditure			$ 100,000
Extra High Property [Member]
IfrsStatementLineItems [Line Items]
Impairment loss			25,001
Cash consideration			100,000
Payment for commercial production			$ 500,000

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - CAD ($)	Dec. 31, 2021	Dec. 31, 2020
Accounts Payable And Accrued Liabilities
Trade payables	$ 77,549	$ 151,093
Accrued liabilities	72,452	104,091
Accounts payable and accrued liabilities	$ 150,001	$ 255,184

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - CAD ($)	Dec. 31, 2021	Dec. 31, 2020
Related party transactions [abstract]
Advances from directors (interest at prime plus 1%)		$ 153,291
Entities controlled by directors (non-interest-bearing)	34,756	155,645
Due to related parties	$ 34,756	$ 308,936

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related party transactions [abstract]
Interest charged on amounts due to related parties	$ 275	$ 4,733	$ 5,452
Interest on convertible debentures	30,000	30,000	30,000
Rent charged by entities with common directors (note 14)	12,000	12,000	12,000
Office expenses charged by, and other expenses paid on behalf of the Company by a company with common directors (note 14)	13,901	12,000	28,784
Total expenses	$ 56,176	$ 58,733	$ 76,236

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - CAD ($)	Dec. 31, 2021	Dec. 31, 2020
Chief Executive Officer
IfrsStatementLineItems [Line Items]
Convertible debentures and accrued interest	$ 459,589	$ 429,589

REFUNDABLE SUBSCRIPTION (Detail

REFUNDABLE SUBSCRIPTION (Details Narrative) - CAD ($)	1 Months Ended	12 Months Ended
	Jan. 25, 2021	Dec. 31, 2021	Jan. 15, 2021
Refundable Subscription
Cancellation of non-brokered private placement		$ 45,000
Refunded of non-brokered private placement		35,000
Refundable Subscription		$ 10,000
Settled amount	$ 10,000
issuance of shares	40,000		80,000
Fair value per share	$ 0.55	$ 0.55
Loss recognized	$ 12,000
Received from subscription funds		$ 20,000
Number of units subscription		80,000
Share Price		$ 0.25
Warrant exercisable		$ 0.50
Term		2 years
Price per unit			$ 0.25

LOAN PAYABLE (Details Narrative

LOAN PAYABLE (Details Narrative) - CAD ($)	1 Months Ended
	Jan. 25, 2021	Dec. 31, 2021	May 31, 2021	Dec. 31, 2020
Loan Payable
Loan payable		$ 52,973	$ 50,000	$ 103,924
Issuance of shares	415,697
Loss recognized	$ 124,709
Accrued interest		$ 2,973

CONVERTIBLE DEBENTURES FINANC_3

CONVERTIBLE DEBENTURES FINANCING (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	$ 672,897	$ 627,897
Interest accrued	30,000	45,000
Shares for debt issue	(209,602)
Balance, December 31, 2021	493,295	672,897
Liability Component
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	639,191	594,191
Interest accrued	30,000	45,000
Shares for debt issue	(209,602)
Balance, December 31, 2021	459,589	639,191
Equity Component
IfrsStatementLineItems [Line Items]
Balance, December 31, 2020	33,706	33,706
Interest accrued
Shares for debt issue
Balance, December 31, 2021	$ 33,706	$ 33,706

CONVERTIBLE DEBENTURES FINANC_4

CONVERTIBLE DEBENTURES FINANCING (Details 1) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Convertible Debentures Financing
Number of Warrants Beginning Balance	964,997	964,997
Weighted Average Exercise Price Beginning Balance	$ 0.60	$ 0.60
Expired	(100,000)
Expired	$ 0.675
Issued	80,000
Issued	$ 0.50
Number Of Warrants Ending Balance	944,997
Weighted Average Exercise Price Ending Balnce	$ 0.59

CONVERTIBLE DEBENTURES FINANC_5

CONVERTIBLE DEBENTURES FINANCING (Details 2)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
IfrsStatementLineItems [Line Items]
Number of Warrants Outstanding	944,997
Warrant One
IfrsStatementLineItems [Line Items]
Expiry Date	Nov. 2, 2022
Exercise Price | $ / shares	$ 0.60
Number of Warrants Outstanding	864,997
Warrant Two
IfrsStatementLineItems [Line Items]
Expiry Date	Jan. 15, 2023
Exercise Price | $ / shares	$ 0.50
Number of Warrants Outstanding	80,000

CONVERTIBLE DEBENTURES FINANC_6

CONVERTIBLE DEBENTURES FINANCING (Details Narrative) - CAD ($)	Jan. 15, 2021	Jan. 06, 2015	Jan. 25, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2013	Oct. 29, 2021
IfrsStatementLineItems [Line Items]
Notional amount							$ 250,000
Issued an aggregate				$ 833,409
Fair value per share			$ 0.55	$ 0.55
Accrued interest				$ 100,000
Recognized loss				250,023
Stock Issued	80,000		2,957,406
Gross Proceeds	$ 20,000		$ 739,351
Common stock price	$ 0.50		$ 0.25
Fair value				2,957,406
Common Stock Shares				1,626,573
Debt settlement				$ 887,222
Common Stock description				Jackpot sold 680,000 common shares of the Company through the facilities of the Exchange. As at December 31, 2020, Jackpot owned 9,997 common shares in the capital of the Company. In addition, Jackpot owns 689,997 share purchase warrants of the Company exercisable at $0.60 per share until November 2, 2022. During January 2021, Jackpot acquired 597,380 common shares of the Company at a deemed price of $0.25 per share pursuant to a debt settlement agreement dated December 11, 2020. As of December 31, 2021, Jackpot owns 607,377 common shares in the capital of the Company representing approximately 13.51% of the Company’s issued and outstanding common shares.
Convertible Debentures
IfrsStatementLineItems [Line Items]
Convertible debenture financing, Amount		$ 250,000
Maturity date		Jan. 6, 2016
Convertible debentures, Amount		$ 222,006
Equity portion of convertible debenture		$ 27,994
Interest expense					$ 30,000
Convertible note				$ 250,000
Accrued interest				$ 209,589	179,589
Convertible Debentures Two
IfrsStatementLineItems [Line Items]
Convertible debenture financing, Amount						$ 975,000
Conversion price						$ 0.0150
Convertible debentures, Amount						$ 913,072
Equity portion of convertible debenture						$ 61,928
Interest expense					$ 15,000

CHANGES IN NON-CASH WORKING C_3

CHANGES IN NON-CASH WORKING CAPITAL (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Changes In Non-cash Working Capital
GST receivable	$ 60	$ 78	$ 273
Accounts payable and accrued liabilities	8,698	226,068	15,622
Due to related parties	28,731	137,796	109,235
Changes in non-cash working capital	37,489	88,350	125,130
Supplemental information
Interest expense included in convertible debt	30,000	45,000	45,000
Interest expense included in due to related parties		3,961	5,452
Shares issued for mineral property interests		7,500	7,500
Shares issued for debt	$ 1,626,319

INCOME TAXES (Details)

INCOME TAXES (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Loss before income taxes	$ 1,044,863	$ 133,379	$ 147,137
Statutory income tax rate	27.00%	27.00%	27.00%
Expected income tax benefit	$ (282,113)	$ 36,012	$ 39,727
Items not deductible for income tax purposes	250,350		(8)
Underprovided in prior years	117,667	97,367	107,695
Unrecognized benefit of deferred tax assets	(85,905)	(133,379)	(147,414)
Income tax expense

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Excess of unused exploration expenditures over carrying value of mineral property interests	$ 2,656,168	$ 2,656,168
Excess of undepreciated capital cost over carrying value of fixed assets	698,593	698,593
Non-refundable mining investment tax credits	247	247
Non-capital losses carried forward	4,336,148	4,218,481
Capital losses carried forward	993,649	993,649
Unrecognized deductible temporary differences	$ 8,684,805	$ 8,567,138

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
2027	$ 590,000	$ 590,000
2028	306,000	306,000
2029	487,000	487,000
2030	454,000	454,000
2031	336,000	336,000
2032	122,000	122,000
2033	213,000	213,000
2034	457,000	457,000
2035	344,000	344,000
2036	284,000	284,000
2037	184,000	184,000
2038	161,000	161,000
2039	147,000	147,000
2040	133,000	133,000
2041	118,000	118,000
Unrecognized unused non-capital tax losses	$ 4,336,000	$ 4,336,000

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - CAD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Applicable tax rate	27.00%	27.00%	27.00%
Unrecognized unused non-capital tax losses	$ 4,336,148	$ 4,218,000
Net capital losses carried forward	994,000
Available resource-related deductions carried forward	$ 2,656,000

COMMITMENTS (Details Narrative)

COMMITMENTS (Details Narrative) - CAD ($)	May 01, 2018	Apr. 30, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments
Lease Term		3 years
Annual operating costs		$ 28,800	$ 1,044,863	$ 133,379	$ 147,137
Office support services expenses	$ 1,000

FINANCIAL INSTRUMENTS AND RIS_2

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (Details Narrative) - CAD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial Instruments And Risk Management
Cash	$ 1,611	$ 9	$ 38	$ 2,045
Current liabilities	697,319	$ 1,337,235
Accrued interest	$ 2,973

INVESTMENT (Details Narrative)

INVESTMENT (Details Narrative) - CAD ($)	1 Months Ended		12 Months Ended
	Nov. 30, 2021	Apr. 30, 2013	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investment
Purchase price		$ 800,000
Impairment loss	$ 15,000	$ 799,999	$ 40,002