Norden Crown Metals : Interim Consolidated Financial Statements

NORDEN CROWN METALS CORPORATION (An exploration stage company)

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in Canadian Dollars)

THREE MONTHS ENDED MARCH 31, 2022 AND 2021

NORDEN CROWN METALS CORPORATION

Notice to Reader:

The accompanying unaudited condensed interim financial statements of Norden Crown Metals Corporation (the "Company") have been prepared by and are the responsibility of the management of the Company. The Company's independent auditor has not performed a review of these unaudited condensed interim consolidated financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor.

NORDEN CROWN METALS CORPORATION (an exploration stage company)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited - Expressed in Canadian Dollars)

As at	Notes	March 31, 2022	December 31, 2021
		($)	($)
Assets
Current assets
Cash and cash equivalents		403,659	299,772
Receivable from option partner		49,637	427,531
Receivables		46,047	40,736
Prepayment of exploration and		269,645	282,764
evaluation asset expenditures
Prepayment of other expenses		91,282	129,496
		860,270	1,180,299
Non-current assets
Reclamation bonds		7,310	7,310
Exploration and evaluation assets	4	5,342,235	5,195,553
Equipment	5	1,446	1,918
		6,211,261	6,385,080

Liabilities
Current liabilities
Accounts payable and accrued liabilities	6
Advances from related parties	9

565,702	554,377
162,400	162,400

		728,102	716,777
Shareholders' Equity
Share Capital	8	15,056,157	15,056,157
Reserves	8	1,168,634	1,168,634
Deficit		(10,741,632)	(10,556,488)
		5,483,159	5,668,303
		6,211,261	6,385,080

Nature of operations and going concern (Note 1)

Approved and authorized by the Board of Directors on May 25, 2022.

"Patricio Varas"		"Jon Sherron"
Patricio Varas, Director		Jon Sherron, Director

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

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NORDEN CROWN METALS CORPORATION (an exploration stage company)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Unaudited - Expressed in Canadian Dollars)

	Notes	Three months ended March 31,
		2022	2021
		($)	($)
EXPENSES
Consulting fees	9	54,069	23,797
Depreciation		472	278
General exploration expenditures		-	54,756
Foreign exchange		(56,673)	14,352
Legal and accounting	9	22,936	7,641
Management fees	9	70,158	70,759
Office expenses and salaries		14,841	19,421
Shareholder communication		96,191	93,096
Travel		2,362	4,811
		(204,356)	(288,911)
OTHER ITEMS
Interest expense		-	(12,871)
Management fee - option agreement	4	19,212	51,728
Loss and comprehensive loss		(185,144)	(250,054)
Basic and diluted loss per share		(0.00)	(0.01)
		(#)	(#)
Weighted-average number of
common shares outstanding		53,024,495	32,684,731

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

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NORDEN CROWN METALS CORPORATION (an exploration stage company)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited - Expressed in Canadian Dollars)

	Share Capital		Reserves
							Total
	Number of	Capital		Stock	Warrant		shareholders'
	Shares	stock		options	s	Deficit	deficit
	(#)	($)	($)	($)	($)	($)
Balance, December 31, 2020	44,398,878	12,835,021	530,814	496,573	(9,045,732)	4,816,676
Net loss	-	-	-	-	(250,054)	(250,054)
Balance, March 31, 2021	44,398,878	12,835,021	530,814	496,573	(9,295,786)	4,566,622
Shares issued for cash	8,625,617	2,458,301	-	129,384	-	2,587,685
Share issuance costs - cash	-	(225,302)	-	-	-	(225,302)
Share issuance costs - warrants	-	(11,863)	-	11,863	-	-
Net loss	-	-	-	-	(1,260,702)	(1,260,702)
Balance, December 31, 2021	53,024,495	15,056,157	530,814	637,820	(10,556,488)	5,668,303
Net loss	-	-	-	-	(185,144)	(185,144)
Balance, March 31, 2022	53,024,495	15,056,157	530,814	637,820	(10,741,632)	5,483,159

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

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