Interim Financial Statements : Aug 31 2022

About this update from Tres-or Resources Ltd.

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED AUGUST 31, 2022 AND 2021 (Unaudited - Prepared by Management) (Expressed in Canadian Dollars) Tel: 1-604-688-8700 Email: [email protected] Website: http://www.tres-or.com Tres-Or trades on the TSX Venture Exchange under the symbol TRS 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 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 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 Chartered Professional Accountants of Canada for a review of interim financial statements by an entity's auditor. TRES-OR RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION UNAUDITED - PREPARED BY MANAGEMENT (Expressed in Canadian Dollars) August 31, February 28, Note 2022 2022 ASSETS Current assets Cash $ 370,850 $ 258,727 Marketable securities 3 1,080,432 - Receivables 4 2,413 38,877 Prepaids 6,953 8,073 Total current assets 1,460,648 305,677 Non-current assets Exploration and evaluation assets 5 2,395,291 3,990,732 TOTAL ASSETS $ 3,855,939 $ 4,296,409 LIABILITIES Current liabilities Accounts payable and accrued liabilities $ 212,931 $ 235,018 Due to related parties 7 407,614 407,682 Loans payable 6,7 - 174,375 Total current liabilities 620,545 817,075 Non-current liabilities Flow through share premium liabilities 9 30,074 34,199 TOTAL LIABILITIES 650,619 851,274 EQUITY Share capital 8 18,067,993 18,069,565 Treasury shares 8 (120,000) - Equity reserves 8 2,272,453 2,272,453 Accumulated other comprehensive loss (420,168) - Deficit (16,594,958) (16,896,883) TOTAL EQUITY 3,205,320 3,445,135 TOTAL LIABILITIES AND EQUITY $ 3,855,939 $ 4,296,409 Nature and continuance of operations (Note 1) Approved by the Board of Directors on October 27, 2022: " Gareth E. Mason " "Laura Lee Duffett" Director Director The accompanying notes are an integral part of these condensed consolidated interim financial statements. 3 TRES-OR RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE LOSS UNAUDITED - PREPARED BY MANAGEMENT (Expressed in Canadian Dollars) Three months ended Six months ended August 31, August 31, Note 2022 2021 2022 2021 GENERAL AND ADMINISTRATIVE EXPENSES Accretion and interest on loans payable 6,7 $ - $ - $ - $ 108 Consulting fees - 6,000 - 20,500 Management fees 7 13,500 13,500 27,000 27,000 Office and miscellaneous 3,360 475 5,084 4,078 Professional fees 29,553 10,326 35,262 25,946 Transfer agent and regulatory fees 2,479 (310) 3,772 6,459 Travel and promotion 7 5,028 12,144 8,510 25,829 (53,920) (42,135) (79,628) (109,920) Settlement of flow through share premium liabilities 9 - - 4,125 - Gain on loan settlement 6 19,375 - 19,375 - Gain on property transfer 5 358,053 - 358,053 - Income (loss) for the period 323,508 (42,135) 301,925 (109,920) OTHER COMPREHENSIVE LOSS Unrealized loss on marketable securities 3 (420,168) - (420,168) - Total comprehensive loss for the period $ (96,660) $ (42,135) $ (118,243) $ (109,920) Basic and diluted earnings (loss) per common share $ 0.01 $ (0.00) $ 0.01 $ (0.01) Weighted average number of common shares outstanding - basic and diluted 22,918,385 21,592,263 22,940,124 21,358,828 The accompanying notes are an integral part of these condensed consolidated interim financial statements. 4 TRES-OR RESOURCES LTD. CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY UNAUDITED - PREPARED BY MANAGEMENT (Expressed in Canadian Dollars) Accumulated Share Other Number of Subscriptions Treasury Equity Comprehensive shares Share Capital Receivable Shares Reserves Loss Deficit Total Balance - February 28, 2021 20,978,263 $ 17,891,191 $ (24,750) $ - $ 2,272,453 $ - $ (16,669,261) $ 3,469,633 Private placement 564,000 84,600 - - - - - 84,600 Share issue costs - (4,981) - - - - - (4,981) Share subscription receivable - - 24,750 - - - - 24,750 Flow-through share premium liability - (31,020) - - - - - (31,020) Exercise of warrants 50,000 7,500 - - - - - 7,500 Loss for the period - - - - - - (109,920) (109,920) Balance - August 31, 2021 21,592,263 $ 17,947,290 $ - $ - $ 2,272,453 $ - $ (16,779,181) $ 3,440,562 Balance - February 28, 2022 22,961,863 $ 18,069,565 $ - $ - $ 2,272,453 $ - $ (16,896,883) $ 3,445,135 Share issue costs - (1,572) - - - - - (1,572) Treasury shares (2,000,001) - - (120,000) - - - (120,000) Loss on marketable securities - - - - - (420,168) - (420,168) Income for the period - - - - - - 301,925 301,925 Balance August 31, 2022 20,961,862 $ 18,067,993 $ - $ (120,000) $ 2,272,453 $ (420,168) $ (16,594,958) $ 3,205,320 The accompanying notes are an integral part of these condensed consolidated interim financial statements. 5

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