Avidian Gold : Condensed Interim Consolidated Financial Statements For the three and six months ended December 31, 2022 and 2021

Condensed Interim Consolidated Financial Statements (Unaudited)

AVIDIAN GOLD CORP.

For the three and six months ended December 31, 2022 and 2021

(Expressed in US dollars)

NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM CONSOLIDATED

FINANCIAL STATEMENTS

The accompanying unaudited condensed interim consolidated financial statements of Avidian Gold Corp. (the "Company" or "Avidian") for the three and six months ended December 31, 2022 and 2021 have been prepared by Management, reviewed by the Audit Committee and approved by the Board of Directors of the Company.

In accordance with National Instrument 51-102, Continuous Disclosure Obligations of the Canadian Securities Administrators, the Company herewith discloses that the accompanying unaudited condensed interim consolidated financial statements have not been reviewed by an auditor.

February 24, 2023
"Steve Roebuck"	"Donna McLean"
Chief Executive Officer	Chief Financial Officer

AVIDIAN GOLD CORP.

Table of Contents

	Page
Condensed Interim Consolidated Statements of Financial Position	1
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss	2
Condensed Interim Consolidated Statements of Change in Shareholders' Equity	3
Condensed Interim Consolidated Statements of Cash Flows	4
Notes to the Condensed Interim Consolidated Financial Statements	5 - 19

AVIDIAN GOLD CORP.

Condensed Interim Consolidated Statements of Financial Position

(Unaudited; Expressed in US Dollars)

	As at	As at
	December 31,	June 30,
	2022	2022
	$	$
Assets
Current
Cash	193,040	265,034
Due from associate	11,690	70,993
Amounts receivable and prepaid expenses	52,298	35,883
Total current assets	257,028	371,910
Non-current assets
Equipment (Note 5)	51,932	70,121
Investment in associate (Note 8)	1,356,905	1,518,163
Total assets	1,665,865	1,960,194
Liabilities
Current
Trade payables and accrued liabilities (Note 10)	316,077	144,237
Total current liabilities	316,077	144,237
Non-current liabilities
Warrant liability (Note 7)	251,623	31,582
Total liabilities	567,700	175,819
Shareholders' Equity
Share capital (Note 6(b))	19,727,302	19,536,485
Share-based payment reserve (Note 6(c))	2,112,943	2,033,015
Deficit	(20,742,080)	(19,785,125)
Total equity	1,098,165	1,784,375
Total liabilities and shareholders' equity	1,665,865	1,960,194

DESCRIPTION OF BUSINESS AND GOING CONCERN (Note 1)

COMMITMENTS AND CONTINGENCIES (Notes 12 and 13)

SUBSEQUENT EVENT (Note 14)

APPROVED BY THE BOARD OF DIRECTORS

Original signed by James Polson, Director

Original signed by Dino Titaro, Director

See accompanying notes to the condensed interim consolidated financial statements

Page 1 of 19

AVIDIAN GOLD CORP.

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss

(Unaudited; Expressed in US Dollars)

	For the three	For the three	For the six	For the six
	months ended	months ended	months ended	months ended
	December 31,	December 31,	December 31,	December 31,
	2022	2021	2022	2021
	$	$	$	$
Operating Expenses
Exploration and evaluation expenditures (Note 12)	75,118	1,630,986	378,914	3,366,190
General and administrative (Note 11)	90,446	374,053	207,756	625,884
Share-based compensation (Note 6(c))	26,103	83,957	76,283	268,950
Net loss before other losses (gains)	191,667	2,088,996	662,953	4,261,024
Foreign exchange (gain) loss	(2,162)	(5,691)	(4,203)	28,088
Loss from equity accounting in associate (Note 8)	37,107	-	161,258	-
Unrealized (gain) loss on warrant revaluation (Note 7)	146,338	(614,853)	136,947	(2,202,598)
Total other (gains) losses	181,283	(620,544)	294,002	(2,174,510)
Net loss and comprehensive loss for the year	372,950	1,468,452	956,955	2,086,514
Net loss and comprehensive loss attributable to:
Shareholders of the Corporation	372,950	703,984	956,955	1,252,274
Non-controlling interest	-	764,468	-	834,240
Net loss and comprehensive loss for the year	372,950	1,468,452	956,955	2,086,514
Net loss per share - basic and diluted (Note 9)	0.00	0.00	0.01	0.01
Weighted average number of shares
outstanding - basic and diluted (Note 9)	169,765,220	165,106,715	168,760,922	164,986,987

See accompanying notes to the condensed interim consolidated financial statements

Page 2 of 19