Allied Copper : Interim Financial Report - December 31, 2020 Financial Statements

GOLD RUSH CARIBOU CORP.

Condensed Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

For the six months ended December 31, 2020 and 2019

(Unaudited - Prepared by Management)

NOTICE OF NO AUDITORS' REVIEW OF INTERIM FINANCIAL STATEMENTS

The accompanying unaudited interim condensed consolidated financial statements of Gold Rush Cariboo Corp. 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 auditors.

GOLD RUSH CARIBOU CORP.

Condensed Interim Consolidated Statements of Financial Position For the period ended December 31, 2020 and 2019 (Unaudited and expressed in Canadian Dollars)

			Note	December 31,		June 30,
				2020		2020
	ASSETS
	Cash	4	$	6,497	$	7,547
	GST/HST receivable	5		41,576		26,637
	Prepaid expenses and deposits	6		6,300		6,300
					54,373		40,484
	Property, plant and equipment	9		1		1
	Mining equipment	9		1		1
	Mining property & rights acquisition costs	10		2		2
	Right-of-use Asset	7		52,035		70,400
	Total assets			106,412		110,889
	LIABILITIES
	Accounts payable & accrued liabilities			254,869		83,361
	Due to consultants	11, 12		269,683		269,683
	Due to other companies	11, 12		327,227		350,190
	Interest payable	13		149,785		126,986
	Current portion of lease liability	8, 17		38,276		36,780
	Current portion of convertible promissory note payable	13		2,250,000		2,250,000
					3,289,840		3,117,001
	Lease Liability	8		16,871		36,390
	Total liabilities			3,306,711		3,153,391
	SHAREHOLDERS' EQUITY
	Share capital	14		7,342,715		7,342,715
	Equity component of convertible promissory note payable	13		984,700		984,700
	Warrant reserve	14(b, d)		1,170,761		1,170,761
	Share-based payments reserve	14(c, e)		453,754		453,754
	Contributed surplus	14(f)		2,697,043		2,697,043
	Deficit			(15,849,272)		(15,691,475)
					(3,200,299)		(3,042,502)
	Total Liabilities and Shareholders' Equity		$	106,412	$	110,889
	Nature of Operations and Going Concern	1
	Commitments	17
	Approved by the Board
	"David Hergenhein" , Director			"Aleem Nathwani"	, Director
	David Hergenhein				Aleem Nathwani

GOLD RUSH CARIBOU CORP.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss For the Three and Six Months Ended December 31, 2020 and 2019 (Unaudited and expressed in Canadian Dollars)

For the three	For the three	For the six	For the six
months ended	months ended	months ended	months ended
December 31,	December 31,	December 31,	December 31,
Note 2020	2019	2020	2019

Expenses
Amortization expense on PPE,	9		-		2,958		-		3,463
mining properties and rights
Amortization expense on right-of-use	7	$	9,183		-	$	18,365	$	-
asset
Consulting fees	11		30,000		460		60,000		43,460
Exploration and evaluation	18		-		10,033		-		82,622
expenditures
Filing and transfer fees			11,824		5,612		14,071		15,541
General and administrative			2,172		22,627		4,754		43,816
Interest on convertible promissory	13		11,399		47,425		22,798		94,850
note
Interest on leased liability	8		1,225		-		2,629		-
Investor relations			2,687		3,053		6,748		6,153
Professional fees			20,196		49,333		28,432		57,474
Net Loss and Comprehensive Loss		$	88,685	$	141,501	$	157,797	$	347,379
for the period
Basic and diluted loss per common			(0.00)		(0.00)		(0.00)		(0.01)
share
Weighted average number of			39,632,411		39,632,411		39,632,411		39,632,411
common shares outstanding

GOLD RUSH CARIBOU CORP.

(FORMERLY, "NORSEMAN CAPITAL LTD.")

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity

For the period ended December 31, 2020 and 2019

(Unaudited and expressed in Canadian Dollars)

	Number of				Equity			Share-based				Total
	Common			Component of		Warrants		Payments	Contributed		Shareholders'
	Shares	Share Capital	Convertible		Reserve		Reserve		Surplus	Deficit	Equity
Balance June 30, 2019	39,632,411	$	7,342,715	$	984,700	$	1,183,961	$	453,754	$	2,683,843	($14,447,813)	($1,798,840)
Net loss for the period												(347,379)	($347,379)
Balance December 31, 2019	39,632,411	$	7,342,715	$	984,700	$	1,183,961	$	453,754	$	2,683,843	($14,795,192)	($2,146,219)
Balance June 30, 2020	39,632,411	$	7,342,715	$	984,700	$	1,170,761	$	453,754	$	2,697,043	($15,691,475)	($3,042,502)
Net loss for the period												(157,797)	($157,797)
Balance December 31, 2020	39,632,411	$	7,342,715	$	984,700	$	1,170,761	$	453,754	$	2,697,043	($15,849,272)	($3,200,299)

GOLD RUSH CARIBOU CORP.

Condensed Interim Consolidated Statements of Cash Flows For the period ended December 31, 2020 and 2019 (Unaudited and expressed in Canadian Dollars)

		2020		2019
Operating Activities
Net loss for the period	$	(157,797)	$	(347,379)
Non cash items
Amortization of right-of-use asset		18,365		-
Amortization of intangible assets		-		3,463
Interest accretion		-		94,850
Changes in non-cash working capital
Prepaid expenses and deposits		-		(6,300)
GST/HST receivable		(14,939)		(27,356)
Interest payable		22,799		-
Accounts payable and accrued liabilities		171,508		57,259
Net Cash provided by (used in) operating activities		39,936		(225,463)
Financing Activities
Lease payments		(18,023)		-
Due to (from) companies		(22,963)		165,000
Due to (from) consultants		-		45,716
Proceeds from shares issued		-		-
Net cash provided by (used in) financing activities		(40,986)		210,716
Increase (decrease) in cash		(1,050)		(14,747)
Cash, beginning of period		7,547		30,078
Cash, end of period	$	6,497	$	15,331