Silver Tiger Metals : Quarterly Financial Statements - June 30, 2022

Interim Unaudited Condensed Consolidated Financial Statements

June 30, 2022

August 25, 2022

Management's Report

The accompanying interim unaudited condensed consolidated financial statements of Silver Tiger Metals Inc. (the "Company") are the responsibility of management and have been approved by the Board of Directors. The consolidated financial statements have been prepared by management in accordance with International Financial Reporting Standards ("IFRS"). The consolidated financial statements include certain amounts and assumptions that are based on management's best estimates and have been derived with careful judgment.

In fulfilling its responsibilities, management has developed and maintains a system of internal accounting controls. These controls are designed to provide reasonable assurance that the financial records are reliable for the preparation of the consolidated financial statements. The Audit Committee of the Board of Directors reviewed and approved the Company's consolidated financial statements and recommended their approval by the Board of Directors.

These consolidated financial statements have not been reviewed by the external auditors of the Company.

(signed) "Glenn Jessome"	(signed) "Keith Abriel"
President and Chief Executive Officer	Chief Financial Officer
Halifax, Nova Scotia	Halifax, Nova Scotia

Unaudited Interim Condensed Consolidated Statements of Financial Position

As at June 30, 2022 and March 31, 2022

	June 30,	March 31,
	2022	2022
	$	$
Assets
Current assets
Cash	26,192,567	33,620,351
Sales tax recoverable	74,177	133,524
Deposits and prepaid expenses	30,308	7,094
	26,297,052	33,760,969
Resource properties (note 5)	43,852,086	39,167,149
	70,149,138	72,928,118
Liabilities
Current liabilities
Accounts payable and accrued liabilities (note 6)	1,328,280	3,806,125
	1,328,280	3,806,125
Equity (note 9)	68,820,858	69,121,993
	70,149,138	72,928,118

Commitments (note 12)

Approved by the Board of Directors

Signed "Wade Anderson", Director

Signed "Richard Gordon", Director

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

Unaudited Interim Condensed Consolidated Statements of Changes in Equity

For the periods ended June 30, 2022 and 2021

	Number of	Share	Contributed
	shares	capital	surplus	Warrants	Deficit	Total
		$	$	$	$	$
Balance - March 31, 2022	304,529,906	88,463,844	4,773,767	1,117,000	(25,232,618)	69,121,993
Net loss and comprehensive loss for the period	-	-	-	-	(1,053,428)	(1,053,428)
Shares issued for cash, exercise of warrants
(note 9)	617,927	61,793	-	-	-	61,793
Shares issued for cash, exercise of stock
options (note 9)	900,000	274,645	(130,645)	-	-	144,000
Shares issued, settlement of deferred share
units ("DSUs") (note 9)	250,000	-	(63,885)	-	(33,615)	(97,500)
Stock-based compensation	-	-	644,000	-	-	644,000
Balance - June 30, 2022	306,297,833	88,800,282	5,223,237	1,117,00	(26,319,661)	68,820,858
Balance - March 31, 2021	260,342,531	67,038,066	3,431,517	1,354,000	(22,512,179)	49,311,404
Net loss and comprehensive loss for the period	-	-	-	-	(376,190)	(376,190)
Shares issued for cash, exercise of warrants
(note 9)	462,000	46,200	-	-	-	46,200
Shares issued for cash, exercise of stock
options (note 9)	635,000	200,500	(94,000)	-	-	106,500
Stock-based compensation	-	-	2,000	-	-	2,000
Balance - June 30, 2021	261,439,531	67,284,766	3,339,517	1,354,000	(22,888,369)	49,089,914

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

Unaudited Interim Condensed Consolidated Statements of Loss and Comprehensive Loss

For the periods ended June 30, 2022 and 2021

		2022	2021
		$	$
Operating expenses
Consulting					178,945
fees (note 8)	142,924
Depreciation	-		7,700
Dues and fees	5,396		8,158
Foreign exchange loss (gain)	39,386		(22,998)
Insurance	46,654		33,720
Office and other	49,691		47,021
Professional fees	59,814		30,441
Shareholder communication	64,076		60,565
Stock-based compensation (note 9)	644,000		2,000
Travel	11,049		2,982
Wages and benefits	56,716		44,414
		1,119,706		392,948
Other expenses (income)
Interest income		(66,278)		(16,758)
Net loss and comprehensive loss for the periods		1,053,428		376,190
Loss per share - Basic and diluted	0.003		0.001
Weighted average outstanding common shares - Basic and
diluted	305,252,247	260,754,048

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