Rogue Resources : Q3 FS January 2022

Rogue Resources Inc.

Consolidated Interim Financial Statements

Quarter Ended January 31, 2022 and 2021

(Expressed in Canadian Dollars)

NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

The accompanying unaudited consolidated interim financial statements of Rogue Resources Inc. ("the Company") for the quarter ended January 31, 2022, have been prepared by management. The Company's

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

Rogue Resources Inc.

Consolidated Financial Statements Quarter ended January 31, 2022 and 2021 (Unaudited - expressed in Canadian Dollars)

Table of Contents	Page
Consolidated Statements of Financial Position	4
Consolidated Statements of Operations and Comprehensive Income (Loss)	5
Consolidated Statements of Changes in Equity	6
Consolidated Statements of Cash Flows	7
Notes to the Consolidated Financial Statements	8 - 32

Rogue Resources Inc.

Consolidated Statements of Financial Position Quarter Ended January 31, 2022 and 2021 (Unaudited - expressed in Canadian dollars)

As at January 31, 2022 As at April 30, 2021
ASSETS	7 11
Current assets
Cash	$45,844 $128,401
Marketable securities	5,759 5,222
Accounts receivable	96,706 167,291
Prepaid expenses	10,206 4,845
Tax recoverable	- 25,557
Inventory	185,576 101,581
Total Current Assets	8, 12 8 9 10 6, 10	344,091 432,897
Non-current assets
Investment in associates	1,813,354 1,882,386
Exploration and evaluation assets	5,179,600 10,796,408
Right-of-use assets	1,030,443 1,202,614
Property, plant and equipment	139,122 37,795
Producing assets	3,125,945 2,756,214
Total Assets	$11,632,555 $17,108,314
LIABILITIES	9 19 15
Current Liabilities
Accounts payable and accrued liabilities	$978,277 $284,604
Current portion of lease liability	295,706 323,706
Due to related parties	306,344 647,956
Government assistance loan	60,000 -
Loan payable	1,787,108 1,773,522
Total Current Liabilities	14 9 16	3,427,434 3,029,788
Non-current liabilities
Vendor mortgages	700,000 700,000
Lease liability	538,162 748,319
Government assistance loan	- 60,000
Total Liabilities	4,465,596 4,538,107
EQUITY	17 17 7 18
Share capital	50,372,364 50,372,364
Reserves	10,686,123 10,666,052
Accumulated other comprehensive income	(2,612) 4,298
Non-controlling interest	194,736 202,213
Deficit	(54,283,653) (48,674,719)
Total Equity	6,966,959 12,570,207
Total Liabilities & Equity	$11,632,555 $17,108,314

As at

5,222

167,291

4,845

25,557

101,581

432,897

1,882,386

10,796,408

1,202,614

37,795

2,756,214

323,706 647,956 1,773,522 3,029,788

700,000 748,319 60,000 4,538,107 50,372,364 10,666,052 4,298 202,213 12,570,207

These consolidated financial statements were approved and authorized for issue by the Board of

Directors on March 31, 2022. They are signed on the Company's behalf by:

(Signed) "Sean Samson"

(Signed) "Christopher Berlet"

Director

Director

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

Rogue Resources Inc.

Consolidated Statements of Operations and Comprehensive Loss Quarter Ended January 31, 2022 and 2021

(Unaudited - expressed in Canadian dollars)

Three months ended January 31,	Three months ended January 31, Note 2022 2021 Nine months ended January 31, 2022 2021
Revenue Less:	1 $331,548 $ 485,355 $ 1,345,606 $ 921,809 9,10 (202,236) (38,924) (255,136) (65,106) (693,598) (484,689) (148,755) (185,148)
Cost of goods sold Depreciation and depletion
Gross Profit	90,388	165,113	503,253 251,972
Expenses:	19 19 15 9,15 ng 88,396 - 81,729 257,930 143,178 1,063 - 5,000 - - 5,000 9,375 - 9,201 3,067 27,603 61,696 12,188 201,412 110,928 396 800 3,570 4,733 16,795 11,340 47,334 33,202 19 17,19 44,854 29,821 114,347 65,261 6,368 5,848 13,372 15,082 1,488 14,602 19,615 78,720
Compensation and benefits Consulting fees Consulting fees - related parties Financing fees Interest and accretion expense Investor relations, promotion and product marketi Office expense and miscellaneous Professional fees Regulatory and stock transfer fees Stock based compensation
Total Expenses Before Items Below	221,056	170,529	670,022 483,707
Profit Before Other Income and Income Taxe Gain on Property Gain/(Loss) from Investment in Associates

8

Write-off of Exploration and EvaluationAssets

(5,659,993)

-

(5,659,993)

-

Deferred Income Tax Recovery

315

(5,101)

Net Loss For The Period

Other Comprehensive Income/(Loss)

Unrealized & realized gain/(loss) on marketable securities

(5,728,255)

(5,616,410)

(224,182)

7

Comprehensive Income/(Loss) For The Period

(6,609)

$

(5,734,864) $

416

(4,685) $

(6,910)

(5,623,320) $

1,952(222,230)

Attributable to:

Non-controlling interest

Equity shareholders of the Company

18

(11,748) (5,723,116)

(2,846)

4,297 (2,846)

(1,839) (5,627,617) (219,384)

(5,734,864)

(4,685)

(5,623,320) (222,230)Basic and Diluted Loss Per Share

17

$

(0.16) $

(0.00) $

(0.16) $

(0.01)

Weighted Average Number of Shares Outstanding

Basic and diluted

17

35,148,299

35,148,299

35,148,299

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

31,928,242