Riverside Resources : Unaudited Financials and MD&A 3rd Quarter for the Period Ending June 30, 2022

RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

(Expressed in Canadian Dollars)

Condensed Interim Consolidated Financial Statements

For the Nine Months ended June 30, 2022 and 2021

(Unaudited- Prepared by Management)

RIVERSIDE RESOURCES INC.

Index to Condensed Interim Consolidated Financial Statements

June 30, 2022

	Page
NOTICE OF NON-REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATMENTS	3
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
Condensed Interim Consolidated Statements of Financial Position	4
Condensed Interim Consolidated Statements of Income and Comprehensive Income	5
Condensed Interim Consolidated Statements of Cash Flows	6
Condensed Interim Consolidated Statements of Changes in Shareholders' Equity	7
Notes to the Condensed Interim Consolidated Financial Statements	8-29

NOTICE OF NON-REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

In accordance with National Instrument 51‐102 Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of these condensed interim consolidated financial statements, they must be accompanied by a notice indicating that these condensed interim consolidated financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The attached condensed interim consolidated financial statements for the nine months ended June 30, 2021 have not been reviewed by the Company's auditors.

RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

Condensed Interim Consolidated Statements of Financial Position as at June 30, 2022 (Unaudited- Expressed in Canadian Dollars)

			Note		June 30,	September 30,
					2022		2021
	Assets
	Current assets:
	Cash and cash equivalents		15	$	7,335,370	$	5,972,384
	Short-term investments		5		247,276		1,400,526
	Receivables		6		163,820		95,199
	Prepaid expenses		7		120,001		129,638
					7,866,467		7,597,747
	Receivables		6		1,012,982		977,977
	Equipment		8		174,626		234,070
	Exploration and evaluation assets		9		7,133,889		6,089,456
				$	16,187,964	$	14,899,250
	Liabilities and Shareholders' Equity
	Current liabilities:
	Accounts payable and accrued liabilities	10	$	153,215	$	474,271
	Flow-through premium liability		12		38,157		-
	Exploration advances		10		3,331,877		2,423,630
	Provision liability		18		1,052,180		1,022,086
					4,575,429		3,919,987
	Government loan		11		-		-
					-		-
	Shareholders' equity:
	Capital stock		12		26,017,795		25,468,861
	Reserves		12		3,768,524		3,670,485
	Deficit				(16,062,823)		(15,862,311)
	Accumulated other comprehensive loss			(2,110,961)		(2,297,772)
					11,612,535		10,979,263
				$	16,187,964	$	14,899,250
Nature and continuance of operations (Note 1)
Subsequent events (Note 19)
On behalf of the Board on August 26, 2022
	"Walter Henry"	Director		"Wendy Chan"	Director
	Water Henry			Wendy Chan

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

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RIVERSIDE RESOURCES INC.

(An Exploration Stage Enterprise)

Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) For the nine months ended June 30,

(Unaudited- Expressed in Canadian Dollars)

		3 Month Ended	3 Month Ended	9 Month Ended	9 Month Ended
	Note		June 30,		June 30,		June 30,		June 30,
			2022		2021		2022		2021
Expenses
Management and consulting fees	9, 13	$	94,247	$	87,912	$	280,672	$	303,374
Depreciation	8		16,068		20,259		46,867		57,370
Director fees	13		9,000		9,000		27,000		27,000
Foreign exchange (gain) loss			(179,955)		27,979		(87,921)		148,675
General and administration			42,406		30,636		125,957		79,929
Interest recovery	11		-		(3,602)		-		(1,970)
Investor relations	13		120,148		61,207		285,407		203,546
Professional fees			53,919		33,819		130,401		108,602
Property investigation and evaluation			59		833		4,611		3,646
Rent			14,550		20,315		43,650		60,946
Share-based payments	12,13		20,751		39,471		98,039		251,602
Loss before the undernoted			(191,193)		(327,829)		(954,683)		(1,242,720)
Other income (expenses)
Finance income			16,132		4,938		28,252		11,149
Loss on disposal of asset	8		(20,369)		-		(20,369)		-
Operational fee recovery	9, 10		79,699		62,543		240,642		305,157
Other income	5		37,027		50,983		128,668		114,854
Amortization of flow-through premium liability	12		46,400		-		133,384		-
Unrealized loss (gain) on short-term investments	5		(63,527)		1,030,820		(1,137,012)		1,075,934
Realized loss (gain) on short-term investments	5		-		-		1,384,833		1,172,012
Write-down of E&E assets			(54)		-		(4,227)		-
Net income (loss) for the period			(95,885)		821,455		(200,512)		1,436,386
Foreign exchange movements			134,769		71,196		186,811		13,197
Comprehensive income (loss) for the period			38,884		892,651		(13,701)		1,449,583
Income (Loss) per share - basic and diluted		$	0.00	$	0.00	$	0.00	$	0.00
Weighted average number of
common shares outstanding
- basic and diluted			69,562,521	66,131,688		69,080,729		65,252,511

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

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