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NICKEL CREEK PLATINUM CORP.

CONDENSED CONSOLIDATED INTERIM

FINANCIAL STATEMENTS

For the three months ended March 31, 2022

(Unaudited)

(Expressed in Canadian Dollars)

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 unaudited interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed consolidated interim financial statements of Nickel Creek Platinum Corp. (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 financial statements in accordance with standards established by the Canadian Institute of Chartered Professional Accountants for a review of interim financial statements by an entity's auditor.

Nickel Creek Platinum Corp.

Condensed Consolidated Interim Statements of Financial Position

(Expressed in Canadian dollars) (Unaudited)

March 31,

December 31,

Note

2022

2021

ASSETS

Current Assets

Cash and cash equivalents

4

$

1,795,135

$

2,200,919

Amounts receivable

5

20,529

31,330

Prepaid expenses

162,292

146,760

Marketable securities

6

504,900

466,900

2,482,856

2,845,909

Non-Current Assets

Equipment, net

7

137,328

144,556

Right-of-use assets, net

8

181,865

204,765

Exploration and evaluation assets

9

29,087,695

29,029,713

29,406,888

29,379,034

TOTAL ASSETS

$

31,889,744

$

32,224,943

LIABILITIES

Current Liabilities

Accounts payable and other liabilities

10

$

143,938

$

237,392

Flow-through share premium liability

10

22,273

24,273

Lease obligations

11

93,968

93,750

260,179

355,415

Non-Current Liabilities

Lease obligations

11

85,110

109,445

Reclamation provision

621,000

621,000

966,289

1,085,860

SHAREHOLDERS' EQUITY

Share capital

12

141,017,943

140,774,249

Equity reserves

16,631,096

16,565,289

Deficit

(126,725,584)

(126,200,455)

30,923,455

31,139,083

TOTAL LIABILITIES AND EQUITY

$

31,889,744

$

32,224,943

Going Concern (Note 1)

Commitments and Contingencies (Note 17)

Subsequent Event (Note 18)

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

Nickel Creek Platinum Corp.

Condensed Consolidated Interim Statements of Loss and Comprehensive Loss

(Expressed in Canadian dollars, except share amounts) (Unaudited)

Three Months Ended March 31,

Note

2022

2021

OPERATING EXPENSES

Consulting and professional fees

$

53,892

$

73,390

Depreciation

7,8

22,630

48,584

Foreign exchange loss

450

2,577

Insurance

16,840

14,428

Office, regulatory and other

78,256

57,488

Investor relations and business development

46,993

7,529

Salaries and wages

13

169,841

166,083

Share-based compensation

12

115,085

89,640

General and administrative expenses

503,987

459,719

Exploration and evaluation expenses

14

62,422

40,879

Loss before non-operating items

(566,409)

(500,598)

OTHER INCOME (EXPENSE)

Flow-through share premium

2,000

-

Gain on marketable securities

38,000

-

Interest expense on right-of-use assets

(888)

(1,057)

Interest income

2,168

1,298

NET LOSS AND COMPREHENSIVE LOSS

$

(525,129)

$

(500,357)

NET LOSS PER COMMON SHARE,

BASIC AND DILUTED

$

(0.00)

$

(0.00)

WEIGHTED AVERAGE NUMBER OF

COMMON SHARES OUTSTANDING

389,549,287

346,706,828

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

Nickel Creek Platinum Corp.

Condensed Consolidated Interim Statements of Cash Flows

(Expressed in Canadian dollars) (Unaudited)

Three Months Ended March 31,

Note

2022

2021

OPERATING ACTIVITIES

Net loss for the period

$

(525,129)

$

(500,357)

Add (deduct) items not affecting cash

Depreciation

7,8

30,128

57,995

Share-based compensation

123,406

90,483

Unrealized gain on marketable securities

(38,000)

-

Unrealized foreign exchange loss

373

594

(409,222)

(351,285)

Changes in non-cash working capital balances

16

(4,428)

(17,316)

Cash used in operating activities

(413,650)

(368,601)

INVESTING ACTIVITIES

Exploration and evaluation expenditures

(151,067)

(37,193)

Cash used in investing activities

(151,067)

(37,193)

FINANCING ACTIVITIES

Exercise of stock options

96,696

349,123

Exercise of warrants

89,399

-

Principal elements of lease payments

(26,789)

(47,653)

Cash provided from financing activities

159,306

301,470

Effect of foreign exchange rate changes on cash and cash equivalents

(373)

(594)

Decrease in cash and cash equivalents, net

(405,784)

(104,918)

CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD

2,200,919

1,459,141

CASH AND CASH EQUIVALENTS, END OF THE PERIOD

$

1,795,135

$

1,354,223

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

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Nickel Creek Platinum Corp. published this content on 13 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2022 02:16:04 UTC.