Aldebaran Resources : Interim Condensed Consolidated Financial Statements

Aldebaran Resources Inc.

(the "Company")

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED MARCH 31, 2022

(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)

		March 31,		June 30,
		2022		2021
Assets
Current Assets
Cash	$	1,833,588	$	7,285,359
Receivables		21,726		18,896
Prepaid expenses		43,552		48,863
Marketable securities		-		47,505
Due from related party (Note 6)		-		867
Right of use asset		10,191		-
		1,909,057		7,401,490
Exploration and evaluation assets (Note 4)		71,965,066		66,617,900
Total Assets	$	73,874,123	$	74,019,390
Liabilities and Shareholders' Equity
Current Liabilities
Accounts payable and accrued liabilities	$	42,092	$	78,320
Due to related parties (Note 6)		43,127		-
		85,219		78,320
Non-Current Liabilities
Due to related parties (Note 6)		6,317		-
Decomissioning liability		332,847		339,809
Deferred tax liability		112,000		112,000
		536,383		530,129
Shareholders' Equity
Share capital (Note 5)		78,951,068		78,860,284
Reserves (Note 5)		2,427,790		2,246,012
Accumulated other comprehensive loss		(3,207,766)		(3,294,463)
Deficit		(4,833,352)		(4,322,572)
		73,337,740		73,489,261
Total Liabilities and Shareholders' Equity	$	73,874,123	$	74,019,390

Nature and continuance of operations (Note 1)

Commitments (Note 8)

Subsequent events (Note 10)

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		Nine months		Nine months
		ended		ended		ended		ended
		March 31,		March 31,		March 31,		March 31,
		2022		2021		2022		2021
EXPENSES
Accounting and audit	$	28,641	$	25,285	$	125,730	$	126,209
Accretion and Amortization		1,676		-		1,676		42
Consulting (Note 6)		15,020		34,145		76,973		89,363
Insurance		10,586		8,970		27,226		22,615
Interest and bank charges		7,428		7,778		37,919		23,029
Investor relations		52,967		46,551		147,476		73,825
Legal		3,507		5,662		11,363		9,522
Management fees (Note 6)		89,842		90,188		269,139		275,939
Office and administration (Note 6)		78,431		57,533		207,059		231,352
Share-based compensation (Note 5, 6)		43,002		67,985		182,780		989,093
Transfer agent and filing fees		43,719		30,920		74,756		38,295
Travel		4,599		4,270		8,364		4,270
Wages and benefits		13,153		20,843		36,992		62,026
		(392,571)		(400,130)		(1,207,453)		(1,945,580)
OTHER ITEMS
Gain on foreign exchange		169,060		126,195		609,262		213,918
Gain (loss) on disposal of marketable securities		41,901		18,767		81,737		(10,567)
Interest income		1,394		1,130		9,987		4,884
Write-off of sales taxes		(1,738)		(1,367)		(4,313)		(7,656)
Loss for the period	$	(181,954)	$	(255,405)	$	(510,780)	$	(1,745,001)
Items that will not be reclassified subsequently
to profit and loss:
Translation adjustment		(986,651)		(84,304)		86,697		(68,888)
Comprehensive loss for the period	$(1,168,605)	$	(339,709)	$	(424,083)	$	(1,813,889)
Basic and diluted loss per common share	$	(0.00)	$	(0.00)	$	(0.00)	$	(0.02)
Weighted average number of common shares
outstanding - basic and diluted	114,561,625		93,635,958		114,516,570		89,139,609

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	-		(106,591)		-		-		-		(106,591)
Share-based compensation	-		-		989,093		-		-		989,093
Foreign exchange adjustment	-		-		-		(68,888)		-		(68,888)
Loss for the period	-		-		-		-		(1,745,001)		(1,745,001)
Balance, March 31, 2021	93,635,958	$	69,712,794	$	2,345,868	$	632,389	$	(4,283,799)	$	68,407,252
Balance, June 30, 2021	114,494,531	$	78,860,284	$	2,246,012	$	(3,294,463)	$	(4,322,572)	$	73,489,261
Exercise of warrants	122,500		85,750		-		-		-		85,750
Exercise of broker's warrants	5,760		5,034		(1,002)		-		-		4,032
Share-based compensation	-		-		182,780		-		-		182,780
Foreign exchange adjustment	-		-		-		86,697		-		86,697
Loss for the period	-		-		-		-		(510,780)		(510,780)
Balance, March 31, 2022	114,622,791	$	78,951,068	$	2,427,790	$	(3,207,766)	$	(4,833,352)	$	73,337,740

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