DFR Gold : March 31, 2023 – Q1 2023 Report (Financials)

DFR GOLD INC. (formerly known as Diamond Fields Resources Inc.) Unaudited condensed consolidated interim financial statements For the three-months period ended March 31, 2023

(All amounts are expressed in United States dollars, unless otherwise stated)

UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

In accordance with National Instrument NI 51-102 released by Canadian Securities Administrators, the Company discloses that its auditors have not reviewed these unaudited condensed consolidated interim financial statements for the three-months period ended March 31, 2023.

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DFR GOLD INC. (formerly known as Diamond Fields Resources Inc.) Condensed consolidated statements of financial position

At March 31, 2023

(All amounts are expressed in United States dollars)

			(Unaudited)		(Audited)
			March 31,		December 31,
	Notes	2023	2022
			$		$
ASSETS
Current assets	7	1,188,692
Cash and cash equivalents	1,346,259
Other receivables	8	418,856	365,084
		1,607,548	1,711,343
Non-current assets	9	35,253
Property, plant, and equipment	36,448
		35,253	36,448
Total assets		1,642,801	1,747,791
LIABILITIES
Current liabilities	12	1,230,973
Accounts payable and accrued liabilities	271,807
Borrowings	13	5,797	5,797
Deferred consideration payable	14	110,000	110,000
		1,346,770	387,604
EQUITY AND RESERVES	15	72,504,412
Share capital	72,504,412
Contributed surplus	15	4,380,710	4,115,630
Accumulated deficit		(78,877,932)	(77,715,606)
Foreign currency translation reserve		(19,839)	(3,732)
Deficit		(2,012,649)	(1,099,296)
Non-controlling interests	16	2,308,680	2,459,483
Total equity		296,031	1,360,187
Total equity and liabilities		1,642,801	1,747,791

Events after the reporting period (Note 24)

"John McGloin"	"Bertrand Boulle"
Director	Director

The above condensed consolidated statements of financial position should be read in conjunction with the accompanying notes on pages 7 to 38.

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DFR GOLD INC. (formerly known as Diamond Fields Resources Inc.) Consolidated statements of profit or loss and other comprehensive income (loss) For the three-months period ended March 31, 2023

(All amounts are expressed in United States dollars)

				(Unaudited)	(Unaudited)
				Three-monthsThree-months
				period ended	period ended
				March 31,	March 31,
		Notes	2023	2022*
CONTINUING OPERATIONS			$	$
Operating expenses	15(iii)	(265,080)
Share-based compensation	-
Exploration and evaluation:	17	(708,721)
- Exploration and evaluation expenses	(127,301)
General and administrative expenses	18	(330,828)	(444,818)
			(1,304,629)	(572,119)
Interest income		4,304	-
Share of loss of joint venture	10(b)	(23,465)	-
Foreign exchange gain		14,688	713
			(4,473)	713
Net loss for the period from continuing operations		(1,309,102)	(571,406)
DISCONTINUED OPERATIONS
Loss from discontinued operations	11(i)	-	(12,378)
Net loss for the period		(1,309,102)	(583,784)
Other comprehensive income (loss)
Items that may be reclassified to profit or loss
Exchange differences on translation of foreign operations		(20,134)	(2,992)
Total comprehensive loss for the period		(1,329,236)	(586,776)
Loss attributable to:
-	Equity shareholders - Continuing operations		(1,162,326)	(571,406)
- Equity shareholders - Discontinued operations		-	(12,378)
-	Non-controlling interest		(146,776)	-
			(1,309,102)	(583,784)
Total comprehensive loss attributable to:
-	Equity shareholders - Continuing operations		(1,178,433)	(574,398)
- Equity shareholders - Discontinued operations		-	(12,378)
-	Non-controlling interest		(150,803)	-
			(1,329,236)	(586,776)

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DFR GOLD INC. (formerly known as Diamond Fields Resources Inc.) Consolidated statements of profit or loss and other comprehensive income (loss) For the three-months period ended March 31, 2023

(All amounts are expressed in United States dollars)

				(Unaudited)	(Unaudited)
				Three-monthsThree-months
				period ended	period ended
				March 31,	March 31,
		Notes	2023	2022*
				$	$
Loss per share from continuing operations:
-	Basic and diluted	(0.01)	(0.01)
Loss per share from discontinuing operations:
-	Basic and diluted	(0.00)	(0.00)
Total loss per share:
-	Basic and diluted	(0.01)	(0.01)

Weighted average number of common shares outstanding:

-

Basic and diluted

181,670,852

79,842,329

* Re-presented to reflect the change in presentation of discontinued operations as set out in Notes 3 and 11.

The above condensed consolidated statements of profit or loss and other comprehensive income (loss) should be read in conjunction with the accompanying notes on pages 7 to 38.

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