Adamera Minerals : 2021 - First Quarter Report

CONDENSED CONSOLIDATED INTERIM

FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED

MARCH 31, 2021

(Unaudited)

1100, 1111 Melville Street

Vancouver, BC V6E 3V6

Tel: [phone]

Fax: [phone]

Condensed Consolidated Interim Financial Statements

March 31, 2021

(Canadian Dollars)

Index	Page
Notice of No Auditor Review of Interim Financial Statements
Financial Statements
Condensed Consolidated Interim Statements of Financial Position	3
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss	4
Condensed Consolidated Interim Statements of Cash Flows	5
Condensed Consolidated Interim Statements of Shareholders' Equity	6
Notes to the Condensed Consolidated Interim Financial Statements	7-20

NOTICE OF NO AUDITOR REVIEW OF

INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3 (3) (a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that an auditor has not reviewed the financial statements.

The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.

ADAMERA MINERALS CORP.

Condensed Consolidated Interim Statements of Financial Position

(Expressed in Canadian Dollars)

			March 31		December 31
			2021		2020
	Note		(Unaudited)		(Audited)
Assets
Current
Cash		$	2,181,143	$	644,673
Deposits	6		55,810		55,896
Receivables			22,614		26,660
Due from related party	12		-		36,372
Due from optionee	9		130,074		87,212
Prepaids			115,099		54,318
Current portion of finance lease receivables	8		321,246		315,689
			2,825,986		1,220,820
Non-current
Equipment	5		32,965		35,403
Right-of-use assets	7		62,517		66,055
Long-term portion of finance lease receivables	8		1,283,275		1,365,701
Exploration deposits	6		130,114		130,460
Mineral properties	9		5,139,639		5,126,958
			6,648,510		6,724,577
		$	9,474,496	$	7,945,397
Liabilities
Current
Accounts payable and accrued liabilities	10	$	147,399	$	86,677
Security deposits			66,985		69,685
Restoration provisions	9		151,888		151,888
Due to related parties	12		134,942		132,659
Current portion of lease liabilities	7		233,549		229,509
			734,763		670,418
Non-current
Canada Emergency Business Account	11		40,000		40,000
Long-term portion of lease liabilities	7		932,953		992,878
			972,953		1,032,878
Shareholders' equity
Share capital	13		36,495,527		34,979,215
Share-based compensation reserve	13		1,887,957		1,630,364
Deficit			(30,616,704)		(30,367,478)
			7,766,780		6,242,101
		$	9,474,496	$	7,945,397

Nature and Continuance of Operations (Note 1)

Commitment (Note 16)

Events After the Reporting Period (Note 17)

Approved and authorized by the Board May 27, 2021

On behalf of the Board:	"Mark Kolebaba"		"Alex Adams"
	Mark Kolebaba		Alex Adams

See accompanying notes to the condensed consolidated interim financial statements

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ADAMERA MINERALS CORP.

Condensed Consolidated Interim Statements of Loss and Comprehensive Loss

(Unaudited; Expressed in Canadian Dollars)

			Three months ended March 31,
	Note		2021		2020
Expenses
Accounting and audit	12	$	21,500	$	16,261
Annual report and meeting			2,261		-
Consulting fees			60,000		-
Depreciation	5		206		278
Depreciation of right-of-use assets	7		3,538		3,136
Filing fees			12,287		6,979
Insurance			529		1,072
Interest expense on lease liabilities	7		20,621		2,018
Marketing			8,691		24,143
Legal fees			1,416		2,242
Office and miscellaneous, net of recoveries			3,223		2,403
Property investigation costs			3,279		-
Property expenses and rent			44,373		44,373
Share-based compensation	12, 13(c)		40,380		-
Transfer agent fees			2,810		1,559
Travel			-		3,108
Wages and benefits	12		52,476		44,884
			(277,590)		(152,456)
Other income
Finance income on sublease	8		28,364		3,770
Rental income			-		5,220
Loss and comprehensive loss for the period		$	(249,226)	$	(143,466)
Basic and diluted loss per share		$	(0.001)	$	(0.001)
Weighted average number of common shares outstanding			181,433,862		150,408,595

See accompanying notes to the condensed consolidated interim financial statements

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