Pampa Metals : Financial Statement – June 30, 2023

PAMPA METALS CORPORATION

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

(Unaudited - Expressed in Canadian Dollars)

AS AT JUNE 30, 2023

AND

FOR THE THREE AND SIX MONTHS ENDED

JUNE 30, 2023 AND 2022

Notice to Reader

The accompanying unaudited condensed consolidated interim financial statements of Pampa Metals Corporation have been prepared by and are the responsibility of management. The unaudited condensed consolidated interim financial statements as at June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 have not been reviewed by the Company's auditors.

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PAMPA METALS CORPORATION

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Unaudited - Expressed in Canadian Dollars)

		June 30	December 31
As at		2023		2022
ASSETS
Current assets
Cash	$	215,300	$	404,633
GST Recoverable		89,646		69,884
Prepaid expenses		53,577		92,720
Total current assets		358,523		567,237
Non-current assets
Equipment		28,754		34,456
Mineral property interests (Note 3)		6,918,973		4,855,222
Total non-current assets		6,947,727		4,889,678
TOTAL ASSETS	$	7,306,250	$	5,456,915
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities (Note 4)	$	257,034	$	280,194
Total liabilities		257,034		280,194
SHAREHOLDERS' EQUITY
Share capital (Note 5)		14,607,255		12,159,947
Commitment to issue shares (Note 5)		-		132,825
Warrant reserve (Note 5)		1,234,901		1,049,260
Contributed surplus (Note 5)		1,320,388		788,605
Accumulated deficit		(10,113,328)		(8,953,916)
Total shareholders' equity		7,049,216		5,176,721
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	7,306,250	$	5,456,915

Nature of operations and going concern (Note 1)

These condensed consolidated interim financial statements were authorized for issuance by the Board of Directors on August 28, 2023.

Approved by the Board of Directors
"Joseph van den Elsen"	Director	"Adrian Manger"	Director

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

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PAMPA METALS CORPORATION

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS (Unaudited - Expressed in Canadian Dollars)

	Three months	Three months		Six months		Six months
		ended		ended		ended		ended
		June 30		June 30		June 30		June 30
		2023		2022		2023		2022
Expenses
Consulting fees	$	4,175	$	217,125	$	4,175	$	227,125
Depreciation		2,851		2,527		5,703		5,144
Director and management fees (Note 6)		90,000		175,761		180,000		329,836
General and administration		50,697		61,806		131,943		85,485
Investor relations and communication		50,497		455,004		100,527		759,089
Professional fees (Note 6)		99,280		73,752		174,733		126,744
Share-based compensation (Notes 5 and 6)		515,403		93,520		531,783		186,012
Shareholder information		13,703		24,669		27,674		40,253
		826,606		1,104,164		1,156,538		1,759,688
Loss before other items		(826,606)		(1,104,164)		(1,156,538)		(1,759,688)
Other items
Gain on debt settlement (Note 5)		15,556		-		16,556		-
Interest income		-		15		-		427
Foreign exchange loss		(14,233)		(35,943)		(19,430)		(30,341)
Loss and comprehensive loss	$	(825,283)	$	(1,140,092)	$	(1,159,412)	$	(1,789,602)
Basic and diluted loss per share	$	(0.01)	$	(0.02)	$	(0.02)	$	(0.04)
Weighted average number of shares outstanding - basic and diluted		72,399,116		48,587,732		65,740,680		46,275,269

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

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PAMPA METALS CORPORATION

CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS (Unaudited - Expressed in Canadian Dollars)

		Six months		Six months
		ended		ended
		June 30		June 30
		2023		2022
CASH FLOWS FROM OPERATING ACTIVITIES
Loss for the period	$	(1,159,412)	$	(1,789,602)
Items not affecting cash:
Share-based compensation		531,783		186,012
Common shares issued for services		47,444		118,000
Unrealized foreign exchange effect		(3,056)		-
Depreciation of equipment		5,703		5,144
Changes in non-cash operating working capital items
GST Recoverable		(19,762)		(53,144)
Prepaid expenses		39,143		(315,122)
Accounts payable and accrued liabilities		(86,835)		193,740
Net cash used in operating activities		(644,992)		(1,654,972)
CASH FLOWS FROM INVESTING ACTIVITIES
Expenditures on mineral properties		(1,975,931)		(660,164)
Net cash used in investing activities		(1,975,931)		(660,164)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares, net of share issuance costs		2,430,180		1,618,530
Net cash provided by financing activities		2,430,180		1,618,530
Effect of exchange rate changes on cash		1,410		-
Change in cash		(189,333)		(696,606)
Cash, beginning		404,633		1,333,960
Cash, ending	$	215,300	$	637,354

Non-cash investing an financing activities
Mineral property interests in accounts payable	$	87,820	$	-

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