FireFox Gold : Q1 2023

FireFox Gold Corp.

Condensed Interim Consolidated Financial Statements

For the three months ended March 31, 2023 and 2022

(Expressed in Canadian dollars)

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Financial Position

(Unaudited - Expressed in Canadian Dollars)

`	Note		March 31	December 31
	2023	2022
	ASSETS
	Current assets			942,207	713,745
	Cash		$
	Amounts receivable			103,056	97,195
	Prepaid expenses			66,240	71,795
				1,111,503	882,735
	Long-term prepaid expenses			99,458	99,458
	Equipment	5		96,458	102,492
	Mineral properties	6		1,142,297	1,142,297
				2,449,716	2,226,982
	LIABILITIES
	Current liabilities			137,931	77,693
	Accounts payable		$
	Due to related parties	8		71,883	76,815
	Accrued liabilities			167,882	108,451
				377,696	262,959
	SHAREHOLDERS' EQUITY
	Capital stock	7	$	16,891,973	16,284,503
	Contributed Surplus	7		2,911,355	2,571,207
	Subscriptions Receivable	7		-	-
	Deficit			(17,731,308)	(16,891,687)
				2,072,020	1,964,023
				2,449,716	2,226,982

Nature of operations and going concern (Note 1)

Subsequent events (Note 9)

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

These consolidated financial statements were approved for issue by the Board of Directors on May 30, 2023 and are signed on its behalf by:

"Carl Löfberg"

, Director

"Patrick Highsmith"

, Director

2

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss

(Unaudited - Expressed in Canadian Dollars)

				For the three months		For the three months
				ended March 31,		ended March 31,
			Note	2023		2022
	EXPENSES		14,501	$	-
		Advertising & promotion	$
		Audit and tax compliance		7,000		5,000
		Depreciation	5	6,034		8,391
		Filing and listing fees		1,856		2,229
		Foreign exchange loss (gain)		(788)		8,908
		Legal		5,292		6,847
		Marketing		3,512		1,583
		Mineral property exploration	5	398,826		1,193,601
		Office costs		18,553		48,280
		Personnel	8	68,991		95,921
		Regulatory fees		8,220		7,932
		Share based payments	8	246,028		-
		Shareholder communications		63,128		43,966
		Other Income		(1,532)		(374)
	Net and comprehensive loss
		for the period	$	839,621	$	1,422,284
	Basic and diluted loss per share	$	(0.01)	$	(0.01)
	Weighted average number of
		shares outstanding		138,079,088		104,865,524

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

.

3

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Changes in Equity

(Unaudited - Expressed in Canadian Dollars)

						Contributed		Subscriptions				Total
		Number of Shares		Share Capital				Deficit		Shareholders'
						Surplus			Receivable				Equity
	Balance at December 31, 2021	104,171,195	$	13,075,963	$	2,345,553	$		30,500	$	(13,310,007)	$	2,142,009
	Private placements	21,964,286		1,864,316		208,774					-		2,073,090
	Share issuance costs	-		(72,625)		16,880					-		(55,745)
	Stock options exercised	5,000		500		-		-	500		-		-
	Warrants exercised	10,777,166		1,257,800		-		-	30,000		-		1,227,800
	Share-based compensation	1,056,997		158,549									158,549
	Net loss and comprehensive loss for the period	-		-		-			-		(3,581,680)		(3,581,680)
	Balance at December 31, 2022	137,974,644	$	16,284,503	$	2,571,207	$		-	$	(16,891,687)	$	1,964,023
	Private placements	6,235,000		623,500							-		623,500
	Share issuance costs	-		(16,030)							-		(16,030)
	Share-based compensation	-				340,148							340,148
	Net loss and comprehensive loss for the period	-		-		-			-		(839,621)		(839,621)
	Balance at March 31, 2023	144,209,644	$	16,891,973	$	2,911,355	$		-	$	(17,731,308)	$	2,072,020

4

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Cash Flows

(Unaudited - Expressed in Canadian Dollars)

				For the three		For the three months
			months ended March
				ended March 31,
				31,
		Note		2023		2022
	Operating activities
	Loss for the period		$	(839,621)	$	(1,422,284)
	Non-cash items
	Share-based payments	8		340,148		-
	Depreciation	5		6,034		8,391
	Change in non-cash working capital:
	Amounts receivable			(5,861)		(126,517)
	Prepaid expenses			5,555		22,995
	Accounts payable			60,238		(40,463)
	Due to related parties	8		(4,932)		30,109
	Accrued liabilities			59,431		(153,546)
	Net cash used in operating activities			(379,008)		(1,681,314)
	Investing activities
	Purchase of equipment	5		-		(19,667)
	Net cash provided by (used in) investing activities			-		(19,667)
	Financing activities
	Private placement, net of share issuance costs	7		607,470		-
	Subscriptions receivable	7		-		(18,500)
	Stock options exercised	7		-		500
	Warrants exercised	7		-		691,000
	Net cash provided by financing activities			607,470		673,000
	Change in cash during the period			228,462		(1,027,981)
	Cash, beginning of the period			713,745		1,579,171
	Cash, end of the period		$	942,207	$	551,190
	SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS
	Non-cash transactions and other supplemental disclosures:
	Interest paid		$	-	$	-
	Income taxes paid		$	-	$	-

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

5