Jayden Resources : MD&A - June 30, 2021

JAYDEN RESOURCES INC.

Management's Discussion and Analysis

For the six-month period ended June 30, 2021

JAYDEN RESOURCES INC.

INTERIM MANAGEMENT DISCUSSION & ANALYSIS - QUARTERLY HIGHLIGHTS

FOR THE SIX MONTHS ENDED JUNE 30, 2021

This interim Management Discussion and Analysis - Quarterly Highlights ("Interim MD&A") has been prepared as of August 30, 2021. This interim MD&A updates disclosure previously provided in our Annual MD&A, up to the date of this Interim MD&A, and should be read in conjunction with our unaudited interim financial statements for the six months ended June 30, 2021 and 2020 (our "Interim Financial Statements"), our audited Financial Statements for the years ended December 31, 2020 (our "Audited Financial Statements") and our Annual MD&A for the year ended December 31, 2020 (our "Annual MD&A").

Our Interim Financial Statements have been prepared by management in accordance with International Financial Reporting Standards ("IFRS") and all amounts are expressed in Canadian dollars unless otherwise noted. Our accounting policies are described in note 3 of our Audited Financial Statements. Additional information relating to the Company is available on SEDAR at www.sedar.com.

Caution on Forward-Looking Information

This MD&A may include forward-looking statements and forward-looking information, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements and forward-looking information addresses future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The forward-looking statements in this MD&A do not include a full assessment or reflection of the unprecedented impacts of the COVD-19 pandemic occurring in the second quarter of 2021 and the ongoing and developing indirect global and regional impacts. It is anticipated that the spread of COVID-19 and the global measures to contain it, will have an impact on the Company, however, it is challenging to quantify the potential magnitude of such impact at this time.

FINANCIAL POSITION AND LIQUIDTY

Review of Financial Results

Three Months Ended

	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020 Sept 30, 2020
Net Income (Net loss)	(135,717)	(102,463)	(67,311)	(50,770)
Basic and diluted loss per share	(0.00)	(0.00)	(0.00)	(0.00)
Total assets	1,305,254	450,435	350,069	153,650
Working capital	927,068	268,189	272,852	(64,037)

Three Months Ended

	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019 Sept 30, 2019
Net loss	(74,892)	(25,991)	5,424,181	(39,023)
Basic and diluted loss per share	(0.00)	(0.00)	0.06	(0.00)
Total assets	16,318	31,978	57,407	109,124
Working capital	(153,267)	(78,375)	(52,384)	1,340

JAYDEN RESOURCES INC.

Management's Discussion and Analysis

For the six-month period ended June 30, 2021

During the quarter ended June 30, 2021, the Company incurred a net loss of $135,717 compared to $74,892 for the quarter ended June 30, 2020. Significant items making up the change in net loss for the three months ended June 30, 2021, as compared to the three months ended June 30, 2020 were as follows:

• Administrative expenses increased to $135,717 (2020: $74,892) as the Company has increased the cost of office overhead. Increase has mainly been due to increase in corporate administration fees to $37,675 (2020: $4,885), increase in consulting fees to $42,000 (2020: $33,000), increase in professional fees to $33,503 (2020: $21,073) and increase in regulatory and shareholder services to $22,604 (2020: $15,719).

Operating Activities

The Company's cash used in operating activities was $319,141 (2020: $43,571). The increase in cash used in operating activities was mainly related to a $250,000 deposit paid to secure exploration services on the 6000m drill program of Storm Lake Gold Property later this year.

Investing Activities

The Company's cash provided by (used in) investing activities was ($126,544) (2020: $165). The Company's principal investing activity is the acquisition and exploration of its resource properties. During the six months period ended June 30, 2021, the Company incurred acquisition cost of $25,300 (2020: $nil) and exploration expenditures of $101,244 (2020: $nil).

Financing Activities

The Company's cash inflow provided by financing activities was $1,018,940 (2020: $nil), which was due to the

proceeds from private placements in January and June 2021 (2020: $nil). On January 12, 2021, the Company had closed the second tranche of the Offering (as defined in Note 6 of Interim Financial Statements) for gross proceeds of $125,000 by issuing 833,334 units of the Company at a price of $0.15 per unit. On June 3, 2021, the Company closed a private placement by issuing 2,483,164 units at a price of $0.36 per unit for total proceeds of $893,940.

Cash Resources and Going Concerns

As at June 30, 2021, the Company had $918,075 in cash and working capital of $927,248. To continue to maintain the property in the future, the Company will have to raise additional equity or form strategic partnerships; however, there cannot be any certainty that additional financing can be raised or strategic partnerships can be found.

OPERATIONS

On September 4, 2020, Jayden announced that it had entered into a property option agreement with Teuton Resources Corp. (TSXV:TUO) to acquire up to a 75% interest in the Harry and Outland Silver Bar properties (the "Property") which are located in the Skeena Mining Division approximately 30km northwest of Stewart, BC.

The Property consists of 3 contiguous claims that cover a gross area of approximately 1,333 hectares. As per an April 2019 National Instrument 43-101 Technical Report on the property, the majority of the Property including the Outlander claim lies along the NW portion of a geological corridor prospective for gold-silver mineralization that is up to 3 kilometers wide. It is at least 15 kilometers long extending from south of the Premier Mine, possibly in the US, north to the Scottie Gold Mine and beyond. Within this mineralized corridor, there are a number of gold/silver deposits as well as numerous prospects. Deposits within this corridor include the Premier, Big Missouri, Silver Coin, Martha Ellen and Mt Dilworth.

On December 9, 2020, Teuton announced that it had discovered a new zone of mineralization on the Harry Property containing 7.86 ozs/ton over 2 metres.

JAYDEN RESOURCES INC.

Management's Discussion and Analysis

For the six-month period ended June 30, 2021

On February 17, 2021, the Company entered into a property option agreement with three arm's length vendors (the "Optionors") to acquire a 100% interest in the Storm Lake Gold Property located in the Frotet-Evans Greenstone Belt in central Quebec. Under the terms of the agreement, the Company can acquire a 100% interest in the Storm Lake Gold Property by making cash and share payments to the Optionors totaling $750,000 and 6,600,000 post- consolidation common shares respectively. Subsequent to June 30, 2021, the Company paid $200,000 and issued 2,200,000 shares to the Optionors.

Jayden management continues to explore options for the future of the Company and will keep shareholders apprised to any developments as they progress.

EXPLORATION AND EVALUATION ASSETS

Harry and Outland Silver Bar Properties

The Company has entered into a property option agreement (the "Agreement") with Teuton Resources Corp. ("Teuton") for the acquisition of the Harry and Outland Silver Bar properties (the "Property") on September 4, 2020. Pursuant to the terms of the Agreement, the Company may acquire an initial 55% interest in the Property.

An additional 20% interest in the Property can be acquired by Jayden taking the Property into commercial production on or before January 12, 2036. Teuton will retain a 2% net smelter royalty on the Property. The Company has received final acceptance from the TSX Venture Exchange on January 18, 2021 and the first payment of $25,000 was paid on January 15, 2021.

As at June 30, 2021, the Company has the following future requirements to fulfill its obligations under the Agreement:

Date	Cash	Expenditures
Paid on January 15, 2021	$	25,000	$	-
January 18, 2022		30,000			100,000
January 18, 2023		35,000			250,000
January 18, 2024		40,000			300,000
January 18, 2025		50,000			500,000
January 18, 2026		-			850,000
	$	180,000		$	2,000,000

The schedule below outlines the costs incurred on the Property as at June 30, 2021:

	As at December 31	Additions/	As at June 30
	2020	(Writedowns)	2021
	$	$	$
Acquisition
Acquisition costs	-	25,000	25,000
	-	25,000	25,000

Cumulative to	Expenditures	Cumulative to
December 31, 2020	during the period	June 30, 2021
$	$	$

Exploration and evaluation expenditures
Geological consulting	-	2,200	2,200
Total exploration and evaluation expenditures	-	2,200	2,200

JAYDEN RESOURCES INC.

Management's Discussion and Analysis

For the six-month period ended June 30, 2021

Storm Lake Gold Property

On February 17, 2021, the Company entered into a property option agreement with three arm's length vendors (the "Optionors") to acquire a 100% interest in the Storm Lake Gold Property located in the Frotet-Evans Greenstone Belt in central Quebec. Under the terms of the agreement, the Company can acquire a 100% interest in the Storm Lake Gold Property by making cash and share payments to the Optionors totaling $750,000 and 6,600,000 post-consolidation common shares respectively.

Upon TSXV approval of the transaction (the "Effective Date"), the Company will pay $200,000 and issue 2,200,000 shares to the Optionors. On the nine (9) month anniversary of the Effective Date an additional 2,200,000 shares will be issued. On the fifteen (15) month anniversary of the Effective Date an additional $300,000 and 2,200,000 shares; and on the thirty (30) month anniversary of the Effective Date a further $250,000

Subsequent to June 30, 2021, the Company paid $200,000 and issued 2,200,000 shares to the Optionors.

Pursuant to the terms of the option agreement, the Company may acquire a 100% interest in the Property by making the following:

Date		Cash	Shares		Expenditures
Effective Date (Subsequently paid and issued)	$	200,000	2,200,000	$	-
Nine month anniversary of the Effective Date		-	2,200,000		-
One year anniversary of the Effective Date		-	-		150,000
Fifteen month anniversary of the Effective Date		300,000	2,200,000		-
Two year anniversary of the Effective Date		-	-		1,350,000
Thirty month anniversary of the Effective Date		250,000	-		-
Three year anniversary of the Effective Date		-	-		1,500,000
	$	750,000	6,600,000	$	3,000,000

The schedule below outlines the costs incurred on the Property as at June 30, 2021:

	As at December 31	Additions/	As at June 30
	2020	(Writedowns)	2021
	$	$	$
Acquisition
Acquisition costs	-	300	300
	-	300	300

Cumulative to	Expenditures	Cumulative to
December 31, 2020	during the period	June 30, 2021
$	$	$

Exploration and evaluation expenditures
Geological consulting	-	99,044	99,044
Total exploration and evaluation expenditures	-	99,044	99,044

JAYDEN RESOURCES INC.

Management's Discussion and Analysis

For the six-month period ended June 30, 2021

ADDITIONAL DISCLOSURE

Disclosure of outstanding share data

(a) Share capital

Outstanding share data as at June 30, 2021:

The authorized share capital of the Company is 5,000,000,000 common shares without par value.

As at June 30, 2021, the Company has 37,188,402 issued and outstanding common shares.

During the period ended June 30, 2021, 3,316,498 common shares were issued.

During the year ended December 31, 2020, 3,099,999 common shares were issued.

During the year ended December 31, 2020, the Company also settled debt owing to its creditors in the amount of $65,352. The Company issued an aggregate of 440,000 common shares of the Company at a value of $0.18 per share in settlement of the debt.

Outstanding share data as at the date of this MD&A:

As at the date of this MD&A, the Company has 39,388,402 issued and outstanding common shares.

(b) Stock options

The Company has a stock option plan whereby the maximum number of shares subject to the plan, in the aggregate, shall not exceed 10% of the Company's issued and outstanding shares. The maximum term of any option will be ten years and the vesting is at the direction of the board, however, options granted to consultants performing "investor relations' activities" must at a minimum vest in stages over a period of not less than twelve months, with no more than ¼ of the options vesting in any three month period or such longer period as the board determines. The exercise price shall be no less than the discount market price as determined in accordance with TSE policies.

There were no stock option transactions for the period ended June 30, 2021.

There were no stock option transactions for the year ended December 31, 2020.

The Company had no stock options outstanding as at June 30, 2021 and December 31, 2020.

As at the date of this MD&A, the Company has no outstanding stock options.