Aldebaran Resources : Interim Condensed Consolidated Financial Statements

Aldebaran Resources Inc.

(the "Company")

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED DECEMBER 31, 2021

(Expressed in Canadian Dollars)

(Unaudited - Prepared by Management)

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 condensed consolidated financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited interim condensed consolidated 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 interim condensed consolidated 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.

Aldebaran Resources Inc.

Interim Condensed Consolidated Statements of Financial Position (Unaudited - Prepared by Management)

(Expressed in Canadian dollars)

	December 31,		June 30,
		2021		2021
Assets
Current Assets
Cash	$	2,328,095	$	7,285,359
Receivables		23,493		18,896
Prepaid expenses		46,306		48,863
Marketable securities		35,314		47,505
Due from related party (Note 6)		-		867
		2,433,208		7,401,490
Exploration and evaluation assets (Note 4)		72,457,201		66,617,900
Total Assets	$	74,890,409	$	74,019,390
Liabilities and Shareholders' Equity
Current Liabilities
Accounts payable and accrued liabilities	$	65,812	$	78,320
Due to related parties (Note 6)		1,673		-
		67,485		78,320
Non-Current Liabilities
Decomissioning liability		337,363		339,809
Deferred tax liability		112,000		112,000
		516,848		530,129
Shareholders' Equity
Share capital (Note 5)		78,860,284		78,860,284
Reserves (Note 5)		2,385,790		2,246,012
Accumulated other comprehensive loss		(2,221,115)		(3,294,463)
Deficit		(4,651,398)		(4,322,572)
		74,373,561		73,489,261
Total Liabilities and Shareholders' Equity	$	74,890,409	$	74,019,390

Nature and continuance of operations (Note 1)

Commitments (Note 8)

Approved by the Board of Directors:
"John Black"		"Mark Wayne"
Director	Director

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

Aldebaran Resources Inc.

Interim Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited - Prepared by Management)

(Expressed in Canadian Dollars)

	Three months	Three months		Six months
		ended		ended		ended	Six months ended
	December 31,	December 31,	December 31,	December 31,
		2021		2020		2021		2020
EXPENSES
Accounting and audit	$	66,781	$	76,636	$	97,089	$	100,924
Amortization		-		-		-		45
Consulting (Note 6)		34,646		35,721		61,953		55,215
Insurance		9,295		6,794		16,640		13,645
Interest and bank charges		19,654		9,348		30,491		15,251
Investor relations		47,843		13,304		94,509		27,274
Legal (recovery)		2,693		(961)		7,856		3,860
Management fees (Note 6)		89,678		91,940		179,297		185,751
Office and administration (Note 6)		58,519		73,491		128,628		173,819
Share-based compensation (Note 5, 6)		54,715		121,714		139,778		921,108
Transfer agent and filing fees		17,586		5,488		31,037		7,375
Travel		3,468		-		3,765		-
Wages and benefits		-		27,733		23,839		41,183
		(404,878)		(461,208)		(814,882)		(1,545,450)
OTHER ITEMS
Gain on foreign exchange		241,688		97,068		440,202		87,723
Gain (loss) on disposal of marketable securities		46,227		(34,004)		39,836		(29,334)
Interest income		2,474		3,059		8,593		3,754
Write-off of sales taxes		(933)		(1,737)		(2,575)		(6,289)
Loss for the period	$	(115,422)	$	(396,822)	$	(328,826)	$	(1,489,596)
Items that will not be reclassified subsequently
to profit and loss:
Translation adjustment		(162,453)		(80,725)		1,073,348		15,416
Comprehensive income (loss) for the period	$	(277,875)	$	(477,547)	$	744,522	$	(1,474,180)
Basic and diluted loss per common share	$	(0.00)	$	(0.0)	$	(0.00)	$	(0.02)
Weighted average number of common shares
outstanding - basic and diluted	114,494,531		93,635,958	114,494,531		86,940,306

The accompanying notes are an integral part of these interim condensed consolidated financial statements.

Aldebaran Resources Inc.

Interim Condensed Consolidated Statements of Shareholders' Equity (Unaudited - Prepared by Management)

(Expressed in Canadian Dollars)

							Accumulated
							Other
						Comprehensive
						Income (Loss)
	Number of						(Translation
	Shares	Share Capital		Reserves		Adjustment)		Deficit		Total
Balance, June 30, 2020	77,635,959	$	65,019,385	$	1,356,775	$	701,277	$	(2,538,798)	$	64,538,639
Shares issued for cash	15,999,999		4,800,000		-		-		-		4,800,000
Share issuance costs	-		(101,735)		-		-		-		(101,735)
Share-based compensation	-		-		921,108		-		-		921,108
Foreign exchange adjustment	-		-		-		15,416		-		15,416
Loss for the period	-		-		-		-		(1,489,596)		(1,489,596)
Balance, December 31, 2020	93,635,958	$	69,717,650	$	2,277,883	$	716,693	$	(4,028,394)	$	68,683,832
Balance, June 30, 2021	114,494,531	$	78,860,284	$	2,246,012	$	(3,294,463)	$	(4,322,572)	$	73,489,261
Share-based compensation	-		-		139,778		-		-		139,778
Foreign exchange adjustment	-		-		-		1,073,348		-		1,073,348
Loss for the period	-		-		-		-		(328,826)		(328,826)
Balance, December 31, 2021	114,494,531	$	78,860,284	$	2,385,790	$	(2,221,115)	$	(4,651,398)	$	74,373,561

The accompanying notes are an integral part of these interim condensed consolidated financial statements.