RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

(Expressed in Canadian Dollars)

Condensed Interim Consolidated Financial Statements

For the Three Months Ended December 31, 2020 and 2019

(Unaudited- Prepared by Management)

RIVERSIDE RESOURCES INC.

Index to Condensed Interim Consolidated Financial Statements

December 31, 2020

Page

NOTICE OF NON-REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATMENTS

3

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Condensed Interim Consolidated Statements of Financial Position

4

Condensed Interim Consolidated Statements of Income and Comprehensive Income

5

Condensed Interim Consolidated Statements of Cash Flows

6

Condensed Interim Consolidated Statements of Changes in Shareholders' Equity

7

Notes to the Condensed Interim Consolidated Financial Statements

8-29

NOTICE OF NON-REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

In accordance with National Instrument 51‐102 Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of these condensed interim consolidated financial statements, they must be accompanied by a notice indicating that these condensed interim consolidated financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The attached condensed interim consolidated financial statements for the three months ended December 31, 2020 have not been reviewed by the Company's auditors.

RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

Consolidated Statements of Financial Position as at, (Expressed in Canadian Dollars)

Note

December 31,

September 30,

2020

2020

Assets

Current assets:

Cash and cash equivalents

15

$

3,935,516

$

4,588,578

Short-term investments

5

1,901,213

1,463,312

Share subscription receivable

12

13,750

13,750

Receivables

6

816,055

596,452

Prepaid expenses

7

78,449

109,672

6,744,983

6,771,764

Equipment

8

234,441

232,011

Exploration and evaluation assets

9

5,558,127

5,217,947

$

12,537,551

$

12,221,722

Liabilities and Shareholders' Equity

Current liabilities:

Accounts payable and accrued liabilities

10

$

1,402,215

$

1,635,890

Provision liability

18

1,053,170

990,184

2,455,385

2,626,074

Government loan

11

32,776

31,970

Shareholders' equity:

2,488,161

2,658,044

Capital stock

12

25,014,779

24,961,986

Reserves

12

3,578,752

3,458,788

Deficit

(16,546,405)

(16,596,443)

Accumulated other comprehensive loss

(1,997,736)

(2,260,653)

10,049,390

9,563,678

$

12,537,551

$

12,221,722

Nature and continuance of operations (Note 1)

Subsequent events (Note 19)

On behalf of the Board on March 1, 2021

"Walter Henry"

Director

"Carol Ellis"

Director

Water Henry

Carol Ellis

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

4

RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

Condensed Interim Consolidated Statements of Income and Comprehensive Income For the three months ended December 31,

(Unaudited- Expressed in Canadian Dollars)

Note

2020

2019

Expenses

Management and consulting fees

13

$

1,410

$

61,482

Depreciation

8

18,493

13,640

Director fees

13

9,000

9,000

Foreign exchange loss

89,699

31,825

General and administration

26,012

17,394

Interest expense

11

806

-

Investor relations

76,154

58,106

Professional fees

37,794

49,794

Property investigation and evaluation

2,828

1,699

Rent

20,315

19,348

Share-based payments

12,13

135,332

30,338

Finance income

(2,480)

(12,655)

Other income

5,13

(32,907)

(6,000)

Unrealized loss (gain) on short-term investments

5

(432,494)

(1,345,279)

Realized loss (gain) on short-term investments

5

-

385,114

Income for the period

50,038

686,194

Foreign exchange movements

262,917

144,035

Comprehensive income for the period

312,955

830,229

Income per share - basic and diluted

$

0.00

$

0.01

Weighted average number of

common shares outstanding

- basic

64,028,731

54,363,054

- diluted

72,605,175

54,363,054

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

5

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Riverside Resources Inc. published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 21:29:10 UTC.