CONSOLIDATED FINANCIAL STATEMENTS

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# Financial Statements

Source: https://esgold.com/wp-content/uploads/2026/07/ESAU-FS-Q3-FY2025.pdf
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## Content

# Financial Statements
ESGold Corp.
CONSOLIDATED FINANCIAL STATEMENTS
(Expressed in Canadian Dollars)
(Unaudited)
FOR THE NINE-MONTH PERIODS ENDED MARCH 31, 2025 AND 2024
ESGOLD CORP.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in Canadian Dollars)
AS AT MARCH 31, 2025 AND JUNE 30, 2024
(Unaudited) (Audited)
March 31, June 30,
2025 2024
ASSETS
Current
Cash 2,586,080 137,008
Sales taxes receivable 80,832 1,222
Prepaid expenses and advances 70,499 14,372
2,737,410 152,603
Non-current
Computer hardware 1,400 -
Exploration and evaluation assets (Note 4) 7,047,486 6,961,930
7,048,887 6,961,930
TOTAL ASSETS 9,786,297 7,114,533
LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities 1,150,110 1,003,610
Loan payable (Note 9) 151,250 161,250
1,301,360 1,164,860
Long term
Provision for indemnity (Note 7) 2,082,000 2,082,000
Asset retirement obligation (Note 8) 400,000 400,000
Long term loan payable (Note 9) 40,000 40,000
2,522,000 2,522,000
Total liabilities 3,823,360 3,686,860
SHAREHOLDERS’ EQUITY
Share capital (Note 5) 36,364,287 34,303,231
Subscriptions receivable (Note 5) 2,226,798 -
Reserves (Note 5) 1,957,336 1,757,632
Deficit (34,585,485) (32,633,190)
5,962,937 3,427,673
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 9,786,297 7,114,533
Nature and continuance of operations (Note 1)
Approved and authorized by the Board on May 27, 2025.
“Andre Gauthier” Director “Paul Mastantuono” Director
Andre Gauthier Paul Mastantuono
The accompanying notes are an integral part of these consolidated financial statements.
ESGOLD CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Expressed in Canadian Dollars)
(Unaudited)
FOR THE NINE-MONTH PERODS ENDED MARCH 31, 2025 AND 2024
For the Three-Month Periods For the Nine-Month Periods
March 31, March 31, March 31, March 31,
2025 2024 2025 2024
EXPENSES
Consulting fees (Note 6) 234,182 129,527 618,131 387,731
Exploration expenses - - - -
Filing fees and transfer agent 36,493 11,728 95,241 33,495
Interest expense and bank charges 6,407 1,490 18,004 10,589
Marketing expenses 435,890 - 794,654 -
Meals and entertainment 799 - 5,120 1,510
Office and miscellaneous 7,615 - 50,887 5,026
Insurance 14,824 15,829 39,328 41,088
Professional fees 53,114 43,560 126,374 143,044
Share-based payments - - 199,704 149,434
Depreciation 200 - 200 -
Travel 8,345 - 15,418 764
(797,868) (202,134) (1,963,062) (772,681)
OTHER
Indemnity and Part XII.6 tax on flow-through - - - -
Amortization of flow-through premium liability - - - -
Foreign exchange loss 6,495 - 10,767 -
Loss and Comprehensive loss for the period (791,373) (202,134) (1,952,295) (772,681)
Basic and diluted loss per share $ (0.02) $ (0.01) $ (0.04) $ (0.02)
Weighted average number of common shares outstanding 46,362,219 31,592,110 46,600,287 31,463,237
The accompanying notes are an integral part of these consolidated financial statements.
ESGOLD CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in Canadian Dollars)
(Unaudited)
FOR THE NINE-MONTH PERIODS ENDED MARCH 31, 2025 AND 2024
For the Nine-Month Periods Ended
March 31, March 31,
2025 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Loss for the period (1,952,295) (772,681)
Items not affecting cash:
Share based payments 199,704 149,434
Shares issued for services - -
Non-cash working capital item changes:
Sales taxes receivable (79,609) 60,150
Prepaid expenses (56,127) 12,086
Accounts payables and accrued liabilities 108,204 416,301
Net cash used in operating activities (1,780,123) (134,710)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of computer hardware (1,400) -
Mineral properties (47,260) (113,024)
Net cash used in investing activities (48,660) (113,024)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from share issuances 2,103,740 37,000
Proceeds from subscriptions received 2,226,798 -
Proceeds from loans - 169,250
Repayment of loans (10,000)
Share issuance costs (42,684) (2,356)
Net cash provided by financing activities 4,277,854 203,895
Change in cash for the period 2,449,071 (43,839)
Cash, beginning of period 137,008 80,349
Cash, end of period 2,586,080 36,510
Supplemental cash flow information:
Shares issued for mineral property settlement - 463,105
Flow-through premium liability - -
Shares issued for settlement of accounts payable and loans payable - -
Broker warrants issued as share issuance costs - -
Mineral property expenditures included in accounts payable
and accrued liabilities 332,517 309,174
The accompanying notes are an integral part of these consolidated financial statements.
ESGOLD CORP.
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(Expressed in Canadian Dollars)
(Unaudited)
AS AT MARCH 31, 2025 AND JUNE 30, 2024
Share Capital
Subs criptions
Commitment to
Number Amount received Res erves Deficit Total
is s ue s hares
Balance as at June 30, 2023 30,589,768 $ 33,097,779 $ - $ - $ 1,559,412 $ (28,945,687) $ 5,711,504
Private placement - common s hares 274,074 37,000 - - - - 37,000
Share is s uance cos ts - (2,356) - - - - (2,356)
Shares is s ued for res tricted s hare unit plan - - - - - - -
Shares is s ued for s ettlement of accounts payable - - - - - - -
Shares is s ued for s ervices - - - - - - -
Shares is s ued to finalize claims acquis ition 926,210 463,105 - - - - 463,105
Share-bas ed payments - - - - 149,434 - 149,434
Comprehens ive los s for the year - - - - - (772,681) (772,681)
Balance as at March 31, 2024 31,790,052 33,595,528 - - 1,708,846 - 29,718,367 5,586,007
Private placement - common s hares 2,154,000 269,250 - - - - 269,250
Share is s uance cos ts - (1,184) - - - - (1,184)
Shares is s ued for res tricted s hare unit plan 1,775,000 239,250 - - - - 239,250
Shares is s ued for s ettlement of accounts payable 2,550,000 328,250 - - - - 328,250
Shares is s ued for s ervices 1,000,000 150,000 - - - - 150,000
Shares is s ued to finalize claims acquis ition - (277,863) - - - - (277,863)
Share-bas ed payments - - - - 48,786 - 48,786
Comprehens ive los s for the year - - - - - (2,914,823) (2,914,823)
Balance as at June 30, 2024 39,269,052 34,303,231 $ - $ - $ 1,757,632 $ (32,633,190) $ 3,427,673
Private placement - common s hares 6,331,235 650,901 - - - - 650,901
Share is s uance cos ts - (42,684) - - - - (42,684)
Private placement - flow through s hares 1,000,000 300,000 - - - 300,000
Warrants exercis ed 5,941,050 895,509 - - - - 895,509
Shares is s ued for res tricted s hare units - - - - - - -
Shares is s ued for s ettlement of accounts payable 1,744,211 238,579 - - - - 238,579
Stock Options exercis ed 150,000 18,750 - - - - 18,750
Shares is s ued to finalize claims acquis ition - - - - - - -
Subs criptions received - - 2,226,798 - - - 2,226,798
Share-bas ed payments - - - - 199,704 - 199,704
Comprehens ive los s for the year - - - - - (1,952,295) (1,952,295)
Balance as at March 31, 2025 54,435,548 36,364,287 $ 2,226,798 $ - $ 1,957,336 $ (34,585,485) $ 5,962,937
The accompanying notes are an integral part of these consolidated financial statements.
ESGOLD CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Expressed in Canadian Dollars)
(Unaudited)
FOR THE NINE-MONTH PERIOD ENDED MARCH 31, 2025
1. NATURE AND CONTINUANCE OF OPERATIONS
ESGold Corp. (the “Company”) is an exploration stage company incorporated under the Canada Business
Corporations Act on October 22, 2004. On November 29, 2021, the Company was continued to the governing
jurisdiction of British Columbia and on July 14, 2022, it changed its name from Secova Metals Corp. to ESGold Corp.
The Company’s registered office is 1500 - 1055 West Georgia Street, STN Royal Centre, Vancouver, British
Columbia, Canada, V6E 4N7.
The Company is in the process of acquiring and evaluating potential exploration projects in Canada. The
recoverability of amounts for resource properties and related deferred exploration costs are dependent upon the
existence of economically recoverable reserves, the ability of the Company to obtain necessary financing to complete
the development of those reserves and upon future profitable production.
During the year ended June 30, 2024, the Company completed a share consolidation of ten (10) old common shares
for one new common share. All common share and per share amounts amounts have been retroactively restated to
present the share consolidation.
These consolidated financial statements have been prepared in accordance with IFRS Accounting Standards (“IFRS”)
with the assumption that the Company will be able to realize its assets and discharge its liabilities in the normal course
of business rather than through a process of forced liquidation. The Company has incurred losses from inception and
does not currently have the financial resources to sustain operations in the long-term. While the Company has been
successful in obtaining its required funding in the past, there is no assurance that such future financing will be available
or be available on favourable terms. An inability to raise additional financing may impact the future assessment of the
Company as a going concern. These material uncertainties may cast significant doubt about the ability of the Company
to continue as a going concern. There are many external factors that can adversely affect general workforces,
economies and financial markets globally. It is not possible for the Company to predict the duration or magnitude of
adverse results of such external factors and its effect on the Company’s business or ability to raise capital.
The consolidated financial statements do not include adjustments to amounts and classifications of assets and liabilities
that might be necessary should the Company be unable to continue operations. Continued operations of the Company
are dependent on the Company's ability to receive financial support, necessary financings, or generate profitable
operations in the future.
2. BASIS OF PREPARATION
Statement of Compliance
These consolidated financial statements, including comparatives, have been prepared using accounting policies
consistent with IFRS as issued by the International Accounting Standards Board (“IASB”).
These consolidated financial statements were authorized for issue by the Board of Directors on May 27, 2025.
Use of Estimates
The preparation of these consolidated financial statements in conformity with IFRS requires management to make
certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of
the financial statements and the reported revenues and expenses during the period. Actual results could differ from
these estimates.
ESGOLD CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Expressed in Canadian Dollars)
(Unaudited)
FOR THE NINE-MONTH PERIOD ENDED MARCH 31, 2025
Significant assumptions about the future and other sources of estimation and judgement uncertainty that management
has made at the end of the reporting period, that could result in a material adjustment to the carrying amounts of assets
and liabilities in the event that actual results differ from assumptions made, relate to:
The Company uses significant judgement in assessing for signs of impairment on the exploration and evaluation assets.
Management has determined that exploration, evaluation and related costs incurred which were capitalized may have
future economic benefits and may be economically recoverable. Management uses several criteria in its assessments
of economic recoverability and probability of future economic benefits including geologic and other technical
information, history of conversion of mineral deposits with similar characteristics to its own properties to proven and
probable mineral reserves, scoping and feasibility studies, accessible facilities and existing permits.
The valuation of shares issued in non-cash transactions. General

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