VR Resources : Q1 fs 2023.pdf

VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

For the three months ended June 30, 2022 (Unaudited - Prepared by Management)

(Expressed in Canadian Dollars)

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NOTICE TO READER

Pursuant to National Instrument 51-102, Part 4, subsection 4.3(3)(a) issued by the Canadian Securities Administrators, if an auditor has not performed a review of the interim condensed financial statements, they must be accompanied by a notice indicating that the condensed consolidated financial statements have not been reviewed by an auditor.

The condensed consolidated interim financial statements of the Company for the first quarter ended June 30, 2022 have been prepared by and are the responsibility of the Company's management.

The Company's independent auditors have not performed a review of these unaudited condensed consolidated interim financial statements in accordance with the standards established by the CPA Canada for a review of interim condensed consolidated financial statements by an entity's auditor.

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VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERM STATEMENTS OF FINANCIAL POSITION (Unaudited - Prepared by management)

(Expressed in Canadian Dollars)

					June 30,		March 31,
					2022		2022
ASSETS
Current
	Cash and cash equivalents (Note 3)		$	192,270	$	1,968,469
	Receivables (Note 4)				146,291		8,730
	Prepaid expenses				102,335		65,364
					440,896		2,042,563
Equipment (Note 5)				2,094		2,264
Exploration and evaluation assets (Note 6)				10,663,336		9,146,463
Reclamation bond (Note 7)				55,357		55,357
			$	11,163,683	$	11,246,647
LIABILITIES AND SHAREHOLDERS' EQUITY
Current
	Accounts payable and accrued liabilities (Note 8)	$	38,098	$	109,552
	Flow-through premium liability (Note 9)				-		208,758
					38,098		318,310
Shareholders' equity
	Share capital (Note 9)				20,161,916		20,161,916
	Reserves (Note 9)				2,407,994		2,407,994
	Deficit				(11,773,342)		(11,781,303)
	Accumulated other comprehensive income				327,017		139,730
					11,123,585		10,928,337
			$	11,161,683	$	11,246,647
Nature of operations and going concern (Note 1)
Subsequent events (Note 15)
	On behalf of the Board
	on August 24, 2022
	"Michael Gunning"	Director	"Craig Lindsay"		Director

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

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VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS FOR THE THREE-MONTH PERIODS ENDED JUNE 30

(Unaudited - Prepared by management) (Expressed in Canadian Dollars)

		2022		2021
EXPENSES
Consulting fees	$	11,350	$	6,000
Depreciation (Note 5)		170		243
Foreign exchange (gain) loss		3,873		1,952
Investor relations and promotion		37,077		28,125
Office		11,871		12,987
Professional fees		11,382		7,485
Rent		6,000		6,000
Regulatory and transfer agent		5,894		11,863
Salaries (Note 10)		90,005		80,133
Travel		2,171		-
		(179,793)		(154,788)
Interest income		2,432		2,901
Other income - flow-through (Note 9)		208,758		-
Impairment of exploration and evaluation assets		(23,436)		2,901
Gain (Loss) for the period		7,961		(151,887)
Other comprehensive income (loss) to be reclassified to profit or loss in subsequent
years:
Translation adjustment		187,289		(62,669)
Loss and comprehensive loss for the period	$	195,248	$	(214,556)
Loss per common share
-Basic and diluted	$	(0.00)	$	(0.00)
Weighted average number of common shares outstanding
-Basic and diluted		83,701,942		78,825,887

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

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VR RESOURCES LTD.

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS FOR THE THREE-MONTH PERIODS ENDED JUNE 30

(Unaudited - Prepared by management) (Expressed in Canadian Dollars)

		2022		2021
OPERATING ACTIVITIES
Gain (loss) for the period	$	7,961	$	(151,887)
Items not affecting cash:
Depreciation		170		242
Flow-through premium liability		(208,758)		-
Changes in non-cash working capital items:
Receivables		(137,561)		30,704
Prepaid expenses		(36,971)		4,808
Accounts payable and accrued liabilities		5,685		(66,883)
Net cash used in operating activities		(369,474)		(183,016)
FINANCING ACTIVITIES
Proceeds from the issuance of shares, net of share issue cost		-		1,087,552
Net cash provided by financing activities		-		1,087,552
INVESTING ACTIVITIES
Exploration and evaluation assets		(1,406,725)		(429,860)
Net cash used in investing activities		(1,406,725)		(429,860)
Change in cash during the period		(1,776,199)		474,676
Cash, beginning of period		1,968,469		2,931,748
Cash, end of period	$	192,270	$	3,406,424
Cash paid during the period for:
Income taxes	$	-	$	-
Interest	$	-	$	-

Supplemental disclosure with respect to cash flows (Note 10)

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