Riverside Resources : Unaudited Financials and MD&A 2nd Quarter for the period ending March 31, 2021

RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

(Expressed in Canadian Dollars)

Condensed Interim Consolidated Financial Statements

For the Six Months Ended March 31, 2021 and 2020

(Unaudited- Prepared by Management)

RIVERSIDE RESOURCES INC.

Index to Condensed Interim Consolidated Financial Statements

March 31, 2021

	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 six months ended March 31, 2021 have not been reviewed by the Company's auditors.

RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

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

			Note		March 31,	September 30,
					2021		2020
	Assets
	Current assets:
	Cash and cash equivalents		15	$	4,340,077	$	4,588,578
	Short-term investments		5		1,221,503		1,463,312
	Share subscription receivable		12		-		13,750
	Receivables		6		913,237		596,452
	Prepaid expenses		7		72,003		109,672
					6,546,820		6,771,764
	Equipment		8		273,253		232,011
	Exploration and evaluation assets		9		5,672,226		5,217,947
				$	12,492,299	$	12,221,722
	Liabilities and Shareholders' Equity
	Current liabilities:
	Accounts payable and accrued liabilities	10	$	668,681	$	1,635,890
	Provision liability		18		1,011,064		990,184
					1,679,745		2,626,074
	Government loan		11		33,603		31,970
					1,713,348		2,658,044
	Shareholders' equity:
	Capital stock		12		25,468,861		24,961,986
	Reserves		12		3,610,254		3,458,788
	Deficit				(15,981,512)		(16,596,443)
	Accumulated other comprehensive loss			(2,318,652)		(2,260,653)
					10,778,951		9,563,678
				$	12,492,299	$	12,221,722
Nature and continuance of operations (Note 1)
Subsequent events (Note 19)
On behalf of the Board on May 31, 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.

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RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) (Unaudited- Expressed in Canadian Dollars)

		3 Month Ended	3 Month Ended	6 Month Ended	6 Month Ended
	Note		March 31,		March 31,		March 31,		March 31,
			2021		2020		2021		2020
Expenses
Management and consulting fees (recovery)	9, 13	$	(28,562)	$	67,611	$	(27,152)	$	129,093
Depreciation	8		18,618		14,076		37,111		27,716
Director fees	13		9,000		9,000		18,000		18,000
Foreign exchange (gain) loss			30,997		(144,592)		120,695		(112,767)
General and administration			23,282		74,226		49,293		91,620
Interest expense	11		826		-		1,633		-
Investor relations	13		66,185		78,919		142,339		137,025
Professional fees			36,989		197,277		74,783		247,071
Property investigation and evaluation (recovery)			(15)		602		2,813		2,301
Rent			20,316		20,316		40,631		39,664
Share-based payments	12,13		76,799		60,564		212,131		90,902
Finance income			(3,731)		(22,748)		(6,211)		(35,403)
Other income	5, 13		(30,964)		(32,557)		(63,871)		(38,557)
Unrealized loss (gain) on short-term investments	5		387,380		354,541		(45,114)		(990,738)
Realized loss (gain) on short-term investments	5	(1,172,012)		-		(1,172,012)		385,114
Net income (loss) for the period			564,892		(677,235)		614,931		8,959
Foreign exchange movements			(320,916)		(986,648)		(57,999)		(842,613)
Comprehensive income (loss) for the period			243,976		(1,663,883)		556,932		(833,654)
Income (Loss) per share - basic and diluted		$	0.01	$	(0.01)	$	0.01	$	0.00
Weighted average number of
common shares outstanding
- basic and diluted			64,261,060		63,104,924		64,464,219		62,972,336

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

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