For the three months ended September 30, 2022 and 2021 (Expressed in US dollars)
NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
The accompanying unaudited condensed interim consolidated financial statements of Avidian Gold Corp. (the "Company" or "Avidian") for the three months ended September 30, 2022 and 2021 have been prepared by Management, reviewed by the Audit Committee and approved by the Board of Directors of the Company.
In accordance with National Instrument 51-102, Continuous Disclosure Obligations of the Canadian Securities Administrators, the Company herewith discloses that the accompanying unaudited condensed interim consolidated financial statements have not been reviewed by an auditor.
November 25, 2022
"Steve Roebuck"
"Donna McLean"
Chief Executive Officer
Chief Financial Officer
AVIDIAN GOLD CORP.
Table of Contents
Page
Condensed Interim Consolidated Statements of Financial Position
1
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss
2
Condensed Interim Consolidated Statements of Change in Shareholders' Equity
3
Condensed Interim Consolidated Statements of Cash Flows
4
Notes to the Condensed Interim Consolidated Financial Statements
5 - 19
AVIDIAN GOLD CORP.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in US Dollars)
As at
As at
September 30,
June 30,
2022
2022
$
$
Assets
Current
Cash
58,802
265,034
Due from associate
17,500
70,993
Amounts receivable and prepaid expenses
61,628
35,883
Total current assets
137,930
371,910
Non-current assets
Equipment (Note 5)
61,020
70,121
Investment in associate (Note 8)
1,394,012
1,518,163
Total assets
1,592,962
1,960,194
Liabilities
Current
Trade payables and accrued liabilities (Note 10)
321,660
144,237
Total current liabilities
321,660
144,237
Non-current liabilities
Warrant liability (Note 7)
20,752
31,582
Total liabilities
342,412
175,819
Shareholders' Equity
Share capital (Note 6(b))
19,536,485
19,536,485
Share-based payment reserve (Note 6(c))
2,083,195
2,033,015
Deficit
(20,369,130)
(19,785,125)
Total equity
1,250,550
1,784,375
Total liabilities and shareholders' equity
1,592,962
1,960,194
DESCRIPTION OF BUSINESS AND GOING CONCERN (Note 1)
COMMITMENTS AND CONTINGENCIES (Notes 12 and 13)
APPROVED BY THE BOARD OF DIRECTORS
Original signed by James Polson, Director
Original signed by Dino Titaro, Director
See accompanying notes to the condensed interim consolidated financial statements
Page 1 of 19
AVIDIAN GOLD CORP.
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss
(Expressed in US Dollars)
For the three
For the three
months ended
months ended
September 30,
September 30,
2022
2021
$
$
Operating Expenses
Exploration and evaluation expenditures (Note 12)
303,796
1,735,204
General and administrative (Note 11)
117,310
251,831
Share-based compensation (Note 6(c))
50,180
184,993
Net loss before other losses (gains)
471,286
2,172,028
Foreign exchange (gain) loss
(2,041)
33,779
Loss from equity accounting in associate (Note 8)
124,151
-
Unrealized (gain) loss on warrant revaluation (Note 7)
(9,391)
(1,587,745)
Total other (gains) losses
112,719
(1,553,966)
Net loss and comprehensive loss for the year
584,005
618,062
Net loss and comprehensive loss attributable to:
Shareholders of the Corporation
584,005
548,290
Non-controlling interest
-
69,772
Net loss and comprehensive loss for the year
584,005
618,062
Net loss per share - basic and diluted (Note 9)
0.00
0.00
Weighted average number of shares
outstanding - basic and diluted (Note 9)
167,756,624
164,867,258
See accompanying notes to the condensed interim consolidated financial statements
Page 2 of 19
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Avidian Gold Corp. published this content on 25 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 November 2022 08:34:03 UTC.
Avidian Gold Corp. is engaged in the business of acquiring and exploring gold projects. The Company rights to explore four gold properties in the United States of America and has a 28% ownership of High Tide Resources Corp., which holds the right to explore two properties in Eastern Canada. Its projects include Golden Zone property, Amanita property, and Jungo property. The Golden Zone gold-silver-copper property lies within the Upper Chulitna District of the Valdez Creek Mining District and is an Intrusion-Related Gold System (IRGS) located in the Kuskokwim Mineral Belt on the south side of the Denali Fault in south-central Alaska. Its Amanita property claim block is comprised of 88 lode claims located within the Fairbanks Mining District, approximately 25 kilometers northeast of Fairbanks, Alaska. The Jungo Property is approximately 19.6 square kilometers in area, comprising approximately 235 unpatented claims. The Company's other properties include Labrador West and Lac Pegma.
AVIDIAN GOLD CORP. 
