Astra Exploration : FS 1stQtr June 30 2022

ASTRA EXPLORATION INC. (FORMERLY MOMENTOUS CAPITAL CORP.)

Condensed Interim Consolidated Financial Statements

For the three months ended June 30, 2022 and 2021

(Unaudited - expressed in Canadian dollars)

Notice of Disclosure of Non-auditor Review of the Condensed Interim Consolidated Financial Statements for the three months ended June 30, 2022 and 2021.

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 financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements of Astra Exploration Inc. (formerly Momentous Capital Corp.) (the "Company") for the interim periods ended June 30, 2022 and 2021, have been prepared in accordance with the International Accounting Standard 34, Interim Financial Reporting as issued by the International Accounting Standards Board and are the responsibility of the Company's management.

The Company's independent auditors, Davidson & Company LLP, have not performed a review of these condensed interim consolidated financial statements.

August 24, 2022

ASTRA EXPLORATION INC. (FORMERLY MOMENTOUS CAPITAL CORP.)

Condensed Interim Consolidated Statements of Financial Position

As at June 30, 2022 and March 31, 2022 (Unaudited - expressed in Canadian dollars)

		June 30,	March 31,
	Note	2022	2022
		$	$
ASSETS
Current
Cash		2,183,202	906,356
Receivables		18,461	21,364
Prepaid expenses		57,001	49,770
Total assets		2,258,664	977,490
LIABILITIES
Current
Accounts payable and accrued liabilities	10	87,364	408,010
Total liabilities		87,364	408,010
SHAREHOLDERS' EQUITY
Share capital	6	5,618,485	4,832,185
Reserves	6	1,705,821	186,648
Deficit		(4,920,518)	(4,257,401)
Equity attributable to the Company		2,403,788	761,432
Non-controlling interest	7	(232,488)	(191,952)
Total shareholders' equity		2,171,300	569,480
Total liabilities and shareholders' equity		2,258,664	977,490

Nature of operations and going concern (Note 1)

Approved and authorized for issue on behalf of the Board on August 24, 2022.

"David Caulfield"		"Brian Miller"
Director		Director

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

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ASTRA EXPLORATION INC. (FORMERLY MOMENTOUS CAPITAL CORP.)

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss

For the three months ended June 30, 2022 and 2021

(Unaudited - expressed in Canadian dollars, except number of shares)

		Three months ended June 30,
	Note	2022	2021
		$	$
Expenses
Exploration and evaluation expenditures	5	317,939	1,540,645
General and administrative		44,528	2,286
Management fees	10	87,074	57,827
Marketing		102,828	6,313
Professional fees	10	108,977	34,409
Share-based compensation	6,10	28,264	-
Travel		14,765	1,565
Loss before other items		704,375	1,643,045
Other (income) expense
Foreign exchange (gain) loss		(722)	41,312
Loss and comprehensive loss		703,653	1,684,357
Loss attributable to:
Shareholders of the Company		663,117	1,378,858
Non-controlling interest	8	40,536	305,499
Loss per share
Basic and diluted		0.03	0.12
Weighted average number of common shares outstanding
Basic and diluted		25,527,806	11,801,582

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

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ASTRA EXPLORATION INC. (FORMERLY MOMENTOUS CAPITAL CORP.)

Condensed Interim Consolidated Statements of Cash Flows

For the three months ended June 30, 2022 and 2021 (Unaudited - expressed in Canadian dollars)

	Three months ended June 30,
	2022	2021
	$	$
Operating activities
Loss for the period	(703,653)	(1,684,357)
Adjustments for non-cash items:
Share-based compensation	28,264	-
Shares issued for acquisition of mineral properties (Note 4a)	-	1,455,209
Changes in non-cash working capital items:
Receivables	2,903	7,146
Prepaid expenses	(7,231)	-
Accounts payable and accrued liabilities	(320,646)	(59,004)
Cash used in operating activities	(1,000,363)	(281,006)
Financing activities
Proceeds from issuance of units	2,400,000	-
Proceeds from private placement	-	1,441,200
Share issuance costs	(122,791)	(74,175)
Cash provided by financing activities	2,277,209	1,367,025
Change in cash during the period	1,276,846	1,086,019
Cash, beginning of period	906,356	489,847
Cash, end of period	2,183,202	1,575,866
Supplemental cash flow information:
Interest paid	-	-
Taxes paid	-	-

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

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