Allied Copper : Interim Financial Report - September 30, 2020 Financial Statements

GOLD RUSH CARIBOO CORP.

INTERIM CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

September 30, 2020

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 CARIBOO CORP.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss

For the Three Months ended September 30, 2020 and 2019

(Unaudited - expressed in Canadian dollars)

		September 30,	June 30,
	Notes	2020	2020
Assets		8,388	$
Cash	4	7,547
GST/HST receivable	5	32,961	26,637
Prepaid expenses and deposits	6	6,300	6,300
		47,649	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	61,218	70,400
Total Assets		108,871	110,889
Liabilities		162,400
Accounts payable and accrued liabilities		83,361
Due to consultants	11,12	269,683	269,683
Due to other companies	11,12	335,770	350,190
Interest payable	13	138,385	126,986
Current portion of lease liability	8,17	37,520	36,780
Current portion of convertible promissory note payable	13	2,250,000	2,250,000
		3,193,758	3,117,001
Lease liability	8,17	26,728	36,390
Total Liabilities		3,220,486	3,153,391
Shareholders' Equity		7,342,715
Share capital	14	7,342,715
Equity component of convertible promissory note	13		984,700
payable	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		(15,760,588)	(15,691,475)
		(3,111,615)	(3,042,502)
Total Liabilities and Shareholders' Equity		108,871	110,889
Nature of Operations and Going Concern (Note 1)
Commitments (Note 17)

Approved by the Board	"Aleem Nathwani"	"David Hergenhein"
	Director (Signed)	Director (Signed)

The accompanying notes are integral to these condensed interim consolidated financial statements

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GOLD RUSH CARIBOO CORP.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss

For the Three Months ended September 30, 2020 and 2019

(Unaudited - expressed in Canadian dollars)

		September 30,	September 30,
	Note	2020	2019
Expenses		$	$
	-	504
Amortization expense on PPE, mining properties & rights	9
Amortization expense on right-of-use asset	7	9,183	-
Consulting fees	11	30,000	43,000
Exploration and evaluation expenditures	18	-	72,589
Filing and transfer fees		2,247	9,929
General and administrative		2,583	21,189
Interest on convertible promissory note	13	11,399	47,425
Interest on leased liability	8	1,404	-
Investor relations		4,061	3,100
Professional fees		8,236	8,141
		69,113	205,877
Net Loss and Comprehensive Loss for the period		(69,113)	(205,877)
Basic and diluted loss per common share		(0.00)	(0.00)
Weighted average number of common shares		39,632,411	39,632,411
outstanding

The accompanying notes are integral to these condensed interim consolidated financial statements

2

GOLD RUSH CARIBOO CORP.

Condensed Interim Consolidated Statements of Changes in Shareholder's Equity

For the Three Months ended September 30, 2020 and 2019

(Unaudited - expressed in Canadian dollars)

				Equity		Share-based			Total
		Number of		Component	Warrants	Payments	Contributed	Accumulated	Shareholders'
	Note	Shares	Amount	of 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	-	-	-	-	-	-	(205,877)	(205,877)
	Balance, September 30, 2019	39,632,411	7,342,715	984,700	1,183,961	453,754	2,683,843	(14,653,690)	(2,004,717)
					.
	Balance, June 30, 2019	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	-	-	-	-	-	-	(69,113)	(69,113)
					.
	Balance on September 30, 2020	39,632,411	7,342,715	984,700	1,170,761	453,754	2,697,043	(15,760,588)	(3,111,615)

The accompanying notes are integral to these condensed interim consolidated financial statements

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GOLD RUSH CARIBOO CORP.

Condensed Interim Consolidated Statements of Cash Flows

For the Three Months ended September 30, 2020 and 2019

(Unaudited - expressed in Canadian dollars)

		September 30,	September 30,
	Note	2020	2019
Cash provided by (used in)		$	$
Operating Activities
Net loss		(69,113)	(205,877)
Items not affecting cash
Amortization expense - PPE & mining rights	9	-	504
Amortization - right-of-use asset	7	9,183	-
		(59,930)	(205,373)
Net changes in non-cash working capital
Prepaid expenses and deposits	6	-	(6,300)
Accounts payable & accrued liabilities		79,037	134,652
Interest payable	13	11,399	(19,072)
GST/HST receivable	5	(6,324)	-
Cash (used in) operating activities		24,182	(96,093)
Financing Activities
Stock options exercised		-
Due to other companies	12	(14,419)	20,000
Lease payments	8	(8,922)
Advances to consultants			51,756
Cash provided by financing activities		(23,341)	71,756
Net change in cash		841	(24,337)
Cash, beginning of year		7,547	30,078
Cash, end of year		8,388	5,741

The accompanying notes are integral to these consolidated financial statements

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