FireFox Gold : Q3 2022 Condensed Interim Consolidated Financial Statements

FireFox Gold Corp.

Condensed Interim Consolidated Financial Statements

For the nine months ended September 30, 2022 and 2021

(Expressed in Canadian dollars)

Notice of No Auditor Review

These unaudited condensed interim financial statements have not been reviewed by the auditors of the Corporation. This notice is being provided in accordance with Section 4.3 (3)

(a) of National Instrument 51-102 - Continuous Disclosure Obligations.

MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL STATEMENTS

The accompanying unaudited condensed interim financial statements of FireFox Gold Corp. are the responsibility of the Company's management and are prepared in accordance with International Financial Reporting Standards and reflect management's best estimates and judgment based on information currently available.

Management has developed and maintains a system of internal controls to ensure that the Company's assets are safeguarded, transactions are authorized and properly recorded, and financial information is reliable.

The Board of Directors is responsible for ensuring management fulfills its responsibilities for financial reporting and internal controls through an audit committee, which is comprised primarily of non-management directors. The Audit Committee reviews the financial statements prior to their submission to the Board of Directors for approval.

"Carl Löfberg"	"Janice E. Craig"
Carl Löfberg	Janice E. Craig
Chief Executive Officer	Chief Financial Officer
Vancouver, British Columbia
November 29, 2022

2

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Financial Position

(Unaudited - Expressed in Canadian Dollars)

	Note	September 30	December 31
	2022	2021
ASSETS
Current assets
Cash		21,224	1,579,171
Amounts receivable		52,267	68,105
Prepaid expenses		174,720	203,288
		248,211	1,850,564
Equipment	4	111,075	115,591
Mineral properties	5	1,142,297	1,092,297
		1,501,583	3,058,452
LIABILITIES
Current liabilities
Accounts payable		103,678	429,544
Due to related parties	7	192,986	210,570
Accrued liabilities		122,677	276,329
		419,341	916,443
SHAREHOLDERS' EQUITY
Capital stock	6	14,986,080	13,075,963
Contributed Surplus	6	2,345,553	2,345,553
Subscriptions Receivable	6	-	30,500
Deficit		(16,249,391)	(13,310,007)
		1,082,242	2,142,009
		1,501,583	3,058,452

Nature of operations and going concern (Note 1)

Subsequent events (Note 8)

These unaudited condensed interim financial statements were approved for issue by the Board of Directors on November 28, 2022 and are signed on its behalf by:

"Carl Löfberg"

, Director

"Patrick Highsmith"

, Director

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

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss

(Unaudited - expressed in Canadian Dollars)

				For the three months ended			For the nine months ended
				Septmber 30			September 30
	Note			2022			2021			2022		2021
EXPENSES
Mineral property exploration	5	$		312,016	$		768,877	$		2,433,003	$	2,139,473
Audit and tax compliance				7,000			5,000			27,293		15,000
Depreciation	4			7,766			-			24,184		-
Filing and listing fees				600			4,096			8,553		64,917
Legal				14,049			2,714			21,859		7,931
Marketing				3,163			8,886			4,941		63,342
Office costs				27,863			70,195			109,049		145,206
Personnel	7			31,463			123,094			201,285		417,299
Regulatory fees				9,283			4,530			24,181		6,040
Travel and meals				-			(9,533)			-		1,198
Share based payments				-			-			-		18,780
Shareholder communications				23,874			24,606			108,980		103,282
Foreign exchange loss (gain)				(21,585)			2,387			(23,544)		8,632
Other income				-			(1,770)			(400)		(3,310)
Net and comprehensive loss
for the period			$	415,492		$	1,003,082		$	2,939,384	$	2,987,790
Basic and diluted loss per share			$	(0.00)		$	(0.01)		$	(0.03)	$	(0.03)
Weighted average number of
shares outstanding				115,767,980		100,636,142		112,899,928		92,257,799

4

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

FireFox Gold Corp.

Condensed Interim Consolidated Statements of Changes in Equity

(Unaudited - expressed in Canadian Dollars)

	Number of		Share Capital		Contributed		Subscriptions		Deficit		Total
						Shareholders'
	Shares			Surplus		Receivable
								Equity
Balance at December 31, 2020	81,503,531	$	9,182,791	$	1,840,984	$		$	(8,021,850)	$	3,001,925
Private placements	16,666,664		3,000,000		-		-		-		3,000,000
Share issuance costs			(87,784)		-		-		-		(87,784)
Stock options exercised	1,260,000		293,457		- 125,457		-		-		168,000
Warrants exercised	4,741,000		687,500		-		30,500		-		718,000
Share-based compensation	-		-		630,026		-		-		630,026
Net loss and comprehensive loss for the period	-		-		-		-		(5,288,157)		(5,288,157)
Balance at December 30, 2021	104,171,195	$	13,075,963	$	2,345,553	$	30,500	$	(13,310,007)	$	2,142,009
Private placements	3,585,786		502,434		-				-		502,434
Share issuance costs	-		(8,741)		-				-		(8,741)
Stock options exercised	5,000		500		-		(500)		-		-
Warrants exercised	10,777,166		1,257,376		-		(30,000)		-		1,227,376
Shares for services	1,056,997		158,549								158,549
Net loss and comprehensive loss for the period	-		-		-		-		(2,939,384)		(2,939,384)
Balance at September 30, 2022	119,596,144	$	14,986,080	$	2,345,553	$	-	$	(16,249,391)	$	1,082,242

5

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