Endurance Gold : 2nd Quarter Report for the period ended June 30, 2023

2023 SECOND QUARTER REPORT JUNE 30, 2023

(Expressed in Canadian dollars)

Unaudited Condensed Interim Consolidated Financial Statements

• Condensed Interim Consolidated Statements of Financial Position
• Condensed Interim Consolidated Statements of Comprehensive Loss
• Condensed Interim Consolidated Statements of Changes in Equity
• Condensed Interim Consolidated Statements of Cash Flows
• Notes to the Condensed Interim Consolidated Financial Statements

NOTICE OF NO AUDITOR REVIEW OF

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

The accompanying unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2023, of Endurance Gold Corporation ("the Company") have been prepared by the Company's management and have not been reviewed by the Company's independent auditor.

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ENDURANCE GOLD CORPORATION

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in Canadian dollars)

(Unaudited, Prepared by Management)

AS AT

		June 30,		December 31,
		2023		2022
ASSETS
Current
Cash and cash equivalents	$	1,137,075	$	1,862,445
Marketable securities (Note 4)		933,303		1,058,940
Prepaid expenses and deposits		318,816		25,497
Receivables		1,076,606		1,729,804
Total current assets		3,465,800		4,676,686
Non-current
Exploration and evaluation assets (Note 5)		8,533,064		7,279,937
Reclamation bond		130,000		37,000
Total non-current assets		8,663,064		7,316,937
Total assets	$	12,128,864	$	11,993,623
LIABILITIES
Current
Accounts payable and accrued liabilities	$	672,698	$	171,522
Total liabilities		672,698		171,522
EQUITY
Share capital (Note 6)		18,950,971		18,950,971
Reserves (Note 6)		3,417,466		3,407,661
Deficit		(10,912,271)		(10,536,531)
		11,456,166		11,822,101
Total liabilities and equity	$	12,128,864	$	11,993,623

Nature of operations (Note 1)

Commitments (Note 12)

Events after the reporting date (Note 13)

Approved and authorized on behalf of the Board of Directors on August 28, 2023:

/s/ Robert T. Boyd	/s/ J. Christopher Mitchell
Director	Director
Robert T. Boyd	J. Christopher Mitchell

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

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ENDURANCE GOLD CORPORATION

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Expressed in Canadian dollars)

(Unaudited, Prepared by Management)

		Three months ended June 30,		Six months ended June 30,
		2023		2022		2023		2022
Expenses
Business development and property investigation	$	487	$	2,930	$	1,280	$	10,994
Corporate communications		47,410		68,449		168,933		133,955
Listing and transfer agent fees		2,520		10,188		25,327		19,938
Management fees		19,500		19,500		39,000		37,000
Office and administrative		23,435		25,375		43,802		38,118
Professional fees		2,194		2,371		2,194		20,752
Stock-based compensation (Note 6)		2,347		640,710		9,805		640,710
Loss before other items		(97,893)		(769,523)		(290,341)		(901,467)
Other items
Interest income		17,166		8,460		40,238		11,537
Gain on sale of marketable securities (Note 4)		-		-		-		1,710
Unrealized gain (loss) on marketable securities
(Note 4)		(261,567)		(662,246)		(125,637)		(913,767)
		(244,401)		(653,786)		(85,399)		(900,520)
Comprehensive loss for the period	$	(342,294)	$	(1,423,309)	$	(375,740)	$	(1,801,987)
Basic and diluted loss per common share	$	(0.00)	$	(0.01)	$	(0.00)	$	(0.01)
Basic and diluted weighted average number of
common shares outstanding		145,379,342		131,726,135		145,379,342		133,746,294

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

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ENDURANCE GOLD CORPORATION

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Expressed in Canadian dollars)

(Unaudited, Prepared by Management)

	Share Capital				Total
	No. of Shares	Amount	Reserves		Deficit	Equity
Balance at December 31, 2022	145,379,342	$18,950,971	$ 3,407,661	$	(10,536,531)	$11,822,101
Share-based compensation	-	-	9,805		-	9,805
Comprehensive loss for the period	-	-	-		(375,740)	(375,740)
Balance at June 30, 2023	145,379,342	$18,950,971	$ 3,417,466	$	(10,912,271)	$11,456,166
	Share Capital				Total
	No. of Shares	Amount	Reserves		Deficit	Equity
Balance at December 31, 2021	127,120,990	$13,171,719	$ 2,339,536	$	(8,214,377)	$ 7,296,878
Shares issued for:
Exploration and evaluation assets	100,000	36,500	-		-	36,500
Exercise of stock options	300,000	15,000	-		-	15,000
Fair value of options exercised	-	8,760	(8,760)		-	-
Exercise of warrants	335,000	83,750	-		-	83,750
Private placement	7,637,500	3,055,000	-		-	3,055,000
Share issuance costs	-	(186,965)	33,132		-	(153,833)
Share-based compensation	-	-	640,710		-	640,710
Comprehensive loss for the period	-	-	-		(1,801,987)	(1,801,987)
Balance at June 30, 2022	135,493,490	$16,183,764	$ 3,004,618	$	(10,016,364)	$ 9,172,018

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

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