___________________________________________________________________

Condensed Interim Consolidated Financial Statements

For the nine months ended April 30, 2022, and 2021

Presented in Canadian dollars

____________________________________________________________

NOTICE TO READER

NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

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 Company's independent auditor has not performed a review of these condensed interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Professional Accountants for a review of interim financial statements.

TARACHI GOLD CORP.

Condensed Interim Consolidated Statements of Financial Position

(Expressed in Canadian Dollars)

Note

April 30, 2022

July 31, 2021

ASSETS

Current assets

Cash

$

1,028,278

$

1,467,649

Accounts receivable

3

1,120,028

853,423

Prepaid expenses

1,195,965

276,902

Total current assets

$

3,344,271

$

2,597,974

Exploration and evaluation assets

4

23,227,017

22,094,865

TOTAL ASSETS

$

26,571,288

$

24,692,839

LIABILITIES

Current liabilities

Accounts payable and accrued liabilities

5

$

20,877

$

983,157

Shares to be issued

6

-

2,255,500

Total current liabilities

$

20,877

$

3,238,657

Contingent consideration

7

5,776,722

6,603,844

Total liabilities

$

5,797,599

$

9,842,501

SHAREHOLDERS' EQUITY

Share capital

7

23,874,192

17,025,164

Contributed surplus

7

3,038,487

2,871,240

Accumulated deficit

(6,138,990)

(5,046,066)

Total shareholders' equity

$

20,773,689

$

14,850,338

Total liabilities and shareholders' equity

$

26,571,288

$

24,692,839

Nature of operations and going concern (Note 1)

Approved on behalf of the board of directors on June 29, 2022:

"Michael Konnert"

"Lorne Warner"

________________________________

________________________________

Michael Konnert, Chairman of the Board

Lorne Warner, Director

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

Page | 3

TARACHI GOLD CORP.

Condensed Interim Consolidated Statements of Operations and Comprehensive Income / (Loss) (Expressed in Canadian Dollars)

Three Months

Three Months

Nine Months

Nine Months

Note

Ended

Ended

Ended

Ended

April 30, 2022

April 30, 2021

April 30, 2022

April 30, 2021

EXPENSES

Consulting fees

10

$

72,006

$

86,385

$

207,428

$

635,589

General and administrative costs

119,616

279,742

214,060

850,429

Insurance

14,992

1,404

43,500

43,750

Management fees

10

39,817

38,980

113,670

64,943

Professional fees

52,389

43,376

58,396

55,924

Project investigation

8,800

63,494

47,116

82,656

Shareholder information and investor relations

121,986

27,286

408,095

129,169

Stock-based compensation

25,505

376,628

203,492

1,649,945

Transfer agent and filing fees

14,292

6,299

37,176

34,392

$

(469,403)

$

(923,594)

$

(1,332,933)

$

(3,546,797)

Other income (expenses)

Foreign exchange gain / (loss)

(33,923)

21,779

(59,267)

21,779

Interest income

104

1,845

287

3,934

Fair value loss of shares issued

7

(1,292,257)

-

(560,000)

-

Contingent consideration revaluation gain / (loss)

7

(61,434)

-

793,392

-

NET AND COMPREHENSIVE LOSS

$

(1,856,913)

$

(899,970)

$

(1,158,521)

$

(3,521,084)

LOSS PER SHARE (basic and diluted)

$

(0.02)

$

(0.01)

$

(0.01)

$

(0.06)

WEIGHTED AVERAGE NUMBER OF SHARES

103,750,376

65,754,267

88,480,879

61,688,343

OUTSTANDING (basic and diluted)

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

Page | 4

TARACHI GOLD CORP.

Condensed Interim Consolidated Statements of Cash Flows

(Expressed in Canadian Dollars)

Nine Months

Nine Months

Ended

Ended

April 30, 2022

April 30, 2021

OPERATING ACTIVITIES

$

$

Net income / (loss) for the year

(1,158,521)

(3,521,084)

Item not effecting cash:

Stock based compensation

203,492

1,231,056

Foreign exchange loss

17,760

-

Shares issued for services

-

41,068

Contingent consideration revaluation gain

(793,392)

-

Shares issued for E&E acquisition

(82,257)

-

Changes in non-cash working capital items:

Change in tax and other receivable

(266,605)

(1,589,085)

Change in prepaid expenses

(919,063)

(12,290)

Change in accounts payable and accrued liabilities

(962,281)

-

(4,012,358)

(3,850,335)

INVESTING ACTIVITIES

Exploration and evaluation assets - acquisition

-

(2,388,539)

Exploration and evaluation assets - expenditures

(1,132,151)

(1,056,152)

(1,132,151)

(3,444,691)

FINANCING ACTIVITIES

Proceeds from issuance of shares, net of share issuance costs

4,697,638

7,550,940

Proceeds from options exercised

7,500

32,350

Proceeds from warrant exercised

-

172,500

4,705,138

7,755,790

NET CHANGE IN CASH

(439,371)

460,944

CASH, beginning of the period

1,467,649

2,568,358

CASH, end of the period

1,028,278

3,029,302

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

Page | 5

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Tarachi Gold Corp. published this content on 29 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 17:11:35 UTC.