MineralRite : FINANCIAL AND FOOTNOTES 12.31.2021

MINERALRITE CORPORATION AND SUBSIDIARY

	UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
					Decenber 31		Decenber 31
					2021		2020
	ASSETS
	Current assets:
		Cash and cash equivalents	$		$
		14,396		16,811.00
		Accounts receivable
		Inventories
		Fairfield Atlantic	60,000
		Notes Receivable Shareholders	11527
			Total current assets	85,923		16,811
	Property and equipment:
		Equipment	198,414		198,414
		Furniture and fixtures
		Construction in progress
		Less: accumulated depreciation	-47,842		-47,842
			Total property and equipment, net	150,572		150,572
					$		$
				Total assets
				236,495		167,383
	LIABILITIES AND STOCKHOLDER EQUITY
	Current Liabilities	127,500
	Long Term Liabilities
		Notes Payable	85,346
		Payable LG	147,596
		Value of outstanding shares, Common shares
		4,357,321,532; Preferred A 105,000,	435,744		254,529
		Preferred B 13,5000, Preferred C 5000
		Stockholder Deficit	-559,691		-87,146
					236,495		167,383

**See attached notes to financial

F-1

MINERALRITE CORPORATION AND SUBSIDIARY

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF

CASH FLOWS

													For the Year Ended
													December 31,
												2021			2020
	CASH	FLOWS FROM OPERATING
	ACTIVITIES:
			Net Income (loss)			$				$
					0				0
			Loss from discontinued operations	-			-
			Loss from continuing operations			0				0
			Adjustments to reconcile net income
			(loss) to
			net cash provided by (used in)		-
			operating activities:
					Amortization	-			-
					Depreciation			54,842				47,842
					Loss on extinguishment of	-			-
					indebtedness
					Amortization of discounts on		-				-
					convertible debt charged to
					interest expense
					Stock based compensation	-			-
							Net cash (used
							in) operating		-				-
							activities
	CASH FLOWS FROM INVESTING
	ACTIVITIES:
							Equipment	-			-
							purchases
							Net cash (used
							in) investing		-				-
							activities
												54,842			47,842

**See attached notes to financial

F-2

MINERAL RITE CORPORATION

CONSOLIDATED

STATEMENTS OF OPERATIONS

(Unaudited)

		For the Three		For the Three	For the Twelve
		Months Ended	For the 3 months	Months Ended	Months Ended
		September 30,	ended June	December 31,	December 31,
		2021	30,2021	2021	2021
Expenses:
Advertising	$	60	34	60	154
Bank Charges		153	130	77	360
Legal and Professional		25,099	16,031	-	41,130
Supplies		1,483	2,560	124	4,167
Office Expenses		430	5,386	814	6,629
Business Travel			4,251		9,981
Communication		5,729	418		420
Transfer Agent		-	9,500	-	9,500
Total expenses		32,954	38,310	1,075	72,340

See accompanying notes to condensed consolidated financial statements.

F-3

MINERALRITE CORPORATION

Statement of Changes in Shareholder Equity

For the Period from December 31, 2019 to December 31, 2021

Unaudited

		Common Stock		Common Stock		Additional	Earnings (Deficit)		Total
			Amount Par Value	Paid-in Capital		Accumulated
				.0001
Balance, December 31, 2019		3,592,246,982	$	3,592,246.98	$	-	$	(3,224,969.00)	$	367,278
Stock issued										-
Stock issued for services										-
Stock issued for a convertible note										-
Net loss, December 31, 2020										-
Balance, December 31, 2020		3,592,246,982		3,592,247		-	$	(3,424,969)	$	167,278
Stock issued				-						-
Stock issued for services										-
Stock issued for a convertible note		765,074,550		765,075				(833,463)		(68,388)
Net loss, December 31, 2020										-
Balance, December 31, 2021	-	4,357,321,532		4,357,322		-		(4,258,432)	-	98,890
	See accompanying notes to condensed consolidated financial statements

F-4

(1) Basis of Presentation and Organization

MineralRite Corporation ("the Company") was incorporated in Nevada on October 22, 1996 under its original name PSM Corp. The Company changed its emphasis to the exploration and development of natural resources and on November 23, 2005 changed its name to Royal Quantum Group, Inc. On October 18, 2012, the Company again changed its name from Royal Quantum Group, Inc. to MineralRite Corporation. On August 31, 2012, the Company declared a 50-for-1 reverse stock split of its common stock. All references in the accompanying consolidated financials to the number of shares outstanding and per-share amounts have been restated to reflect this stock split. In April of 2021, the company merged into Texas and became a Texas Corporation. The total number of shares authorized increased to 20,000,000,000. The merger was perfected and the company moved from Nevada completely on November 17, 2021.

On March 1, 2013, the Company acquired 100% of the total shares outstanding of Goldfield International, Inc. ("Goldfield") in exchange for issuing 2,000,000 shares of its common stock. The acquisition was based on the fair value of the shares issued amounting to $900,000. The accompanying consolidated financial statements include the accounts and balances of the Company and also of Goldfield since the date of its acquisition. All material intercompany transactions have been eliminated. Goldfield is in the business of manufacturing gold mining equipment.

On April 24, 2013, the Company entered into a joint venture agreement with CSI Export and Import ("CSI") to mine copper ore on leased acreage in Chiapas, Mexico. For $850,000, the Company acquired a 50% in the joint venture which has a 25% participation interest in the production and sale of the indicated copper ore. The Company accounts for its investment in with CSI under the equity method pursuant to ASC Topic 323-30. This amount was fully impaired as of December 31, 2013 due to impairment as CSI did not execute on their part of the joint venture and repayment is doubtful.

Pursuant to a settlement agreement and related court order, effective December 6, 2013, the Company issued 30,000,000 shares of its common stock and transferred its oil and gas operations including related assets and liabilities to Santeo Financial Corporation and other creditors in exchange for the cancelation of debt totaling $325,568. For financial statement presentation purposes, the oil and gas activities for 2012 and 2013, and assets and liabilities directly relating to the oil and gas operation, are accounted for pursuant to ASC Topic 205-20 "Discontinued Operations".

On January 1, 2015, the company entered into a security agreement and $139,000 worth of promissory notes with L Kent Harmon, Steve Durant, Robert Underwood securing all Goldfield assets in order to secure various loans that have been advanced from a period of time from the date of the agreement in order to cover operational costs of Goldfield.

In June 2015, the Company entered into a joint venture agreement with MEK Mining ("MEK") to mine Gold Ore on leased acreage in Ghana. For $150,000, the Company acquired a 50% in the joint venture which has a 20% participation interest in the production and sale of the indicated gold ore. The Company accounts for its investment in with MEK under the equity method pursuant to ASC Topic 323-30. This operation was in production during 2015 until government regulations were changed and all mining in Ghana was shut down for two years. It is planned to restart operations in 2022 when sufficient funding has been arranged.

On July 15,2015 pursuant to a security agreement, effective January 1, 2015, the Company transferred its equipment manufacturing operations including related assets and liabilities to L Kent

F-5