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NICKEL CREEK PLATINUM CORP.

CONDENSED CONSOLIDATED INTERIM

FINANCIAL STATEMENTS

For the three and six months ended June 30, 2023

(Unaudited)

(Expressed in Canadian Dollars)

NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

Under National Instrument 51-102, Part 4, subsection 4.3(3) (a), if an auditor has not performed a review of the unaudited interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed consolidated interim financial statements of Nickel Creek Platinum Corp. (the "Company") have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Canadian Institute of Chartered Professional Accountants for a review of interim financial statements by an entity's auditor.

Nickel Creek Platinum Corp.

Condensed Consolidated Interim Statements of Financial Position (Expressed in Canadian dollars) (Unaudited)

June 30,

December 31,

Note

2023

2022

ASSETS

Current Assets

Cash and cash equivalents

4

$

1,613,217

$

1,816,994

Amounts receivable

5

50,601

76,505

Prepaid expenses

99,324

132,844

1,763,142

2,026,343

Non-Current Assets

Equipment, net

7

104,080

115,645

Right-of-use assets, net

8

63,942

110,884

Exploration and evaluation assets

9

33,102,021

32,254,080

33,270,043

32,480,609

TOTAL ASSETS

$

35,033,185

$

34,506,952

LIABILITIES

Current Liabilities

Accounts payable and other liabilities

10

$

456,733

$

355,177

Lease obligations

11

53,462

101,617

510,195

456,794

Non-Current Liabilities

Lease obligations

11

16,251

17,319

Reclamation provision

532,000

528,000

1,058,446

1,002,113

SHAREHOLDERS' EQUITY

Share capital

12

145,715,790

144,357,343

Equity reserves

17,339,685

16,995,424

Deficit

(129,080,736)

(127,847,928)

33,974,739

33,504,839

TOTAL LIABILITIES AND EQUITY

$

35,033,185

$

34,506,952

Going Concern (Note 1)

Commitments and Contingencies (Note 17)

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

Nickel Creek Platinum Corp.

Condensed Consolidated Interim Statements of Loss and Comprehensive Loss

(Expressed in Canadian dollars, except share amounts) (Unaudited)

Three Months Ended

Six Months Ended

June 30,

June 30,

Note

2023

2022

2023

2022

OPERATING EXPENSES

Consulting and professional fees

$

79,004

$

73,493

$

147,123

$

127,385

Depreciation

7, 8

23,056

22,630

46,112

45,260

Foreign exchange (gain) loss

262

(484)

1,262

(34)

Insurance

17,118

16,841

34,237

33,681

Investor relations and business

65,501

63,423

132,264

115,416

development

Office, regulatory and other

70,814

63,593

140,326

136,849

Salaries and wages

13

161,393

156,738

327,795

326,579

Share-based compensation

12

121,669

133,386

314,921

248,471

General and administrative expenses

538,817

529,620

1,144,040

1,033,607

Exploration and evaluation expenses

14

29,788

56,412

117,624

118,834

Loss before non-operating items

(568,605)

(586,032)

(1,261,664)

(1,152,441)

OTHER INCOME (EXPENSE)

Flow-through share premium

-

34,273

-

36,273

Loss on marketable securities

6

-

(130,250)

-

(92,250)

Interest expense on right-of-use assets

(1,871)

(1,320)

(2,686)

(2,208)

Interest income

16,086

12,498

31,542

14,666

NET LOSS AND COMPREHENSIVE LOSS

$

(554,390)

$

(670,831)

$

(1,232,808)

$

(1,195,960)

NET LOSS PER COMMON SHARE,

BASIC AND DILUTED

$

(0.00)

$

(0.00)

$

(0.00)

$

(0.00)

WEIGHTED AVERAGE NUMBER OF

COMMON SHARES OUTSTANDING

452,280,856

418,529,811

443,501,682

404,119,606

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

Nickel Creek Platinum Corp.

Condensed Consolidated Interim Statements of Cash Flows (Expressed in Canadian dollars) (Unaudited)

Six Months Ended June 30,

Note

2023

2022

OPERATING ACTIVITIES

Net loss for the period

$

(1,232,808)

$

(1,195,960)

Add (deduct) items not affecting cash

Depreciation

7,8

58,507

60,256

Share-based compensation

344,261

267,218

Unrealized loss on marketable securities

-

92,250

Unrealized foreign exchange (gain) loss

175

(203)

Changes in non-cash working capital balances

16

85,954

269,033

Cash used in operating activities

(743,911)

(507,406)

INVESTING ACTIVITIES

Exploration and evaluation expenditures

(765,229)

(379,699)

Cash used in investing activities

(765,229)

(379,699)

FINANCING ACTIVITIES

Exercise of stock options

-

96,696

Exercise of warrants

-

1,000,864

Proceeds from share issuance, net of issue costs

1,358,447

2,397,935

Principal elements of lease payments

(52,909)

(53,578)

Cash provided by financing activities

1,305,538

3,441,917

Effect of foreign exchange rate changes on cash and cash equivalents

(175)

203

(Decrease) increase in cash and cash equivalents, net

(203,777)

2,555,015

CASH AND CASH EQUIVALENTS, BEGINNING OF THE PERIOD

1,816,994

2,200,919

CASH AND CASH EQUIVALENTS, END OF THE PERIOD

$

1,613,217

$

4,755,934

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

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Nickel Creek Platinum Corp. published this content on 09 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2023 01:12:01 UTC.