Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Income Taxes [Abstract] |
|
| Schedule of Income Taxes at Statutory Rates |
A reconciliation of income taxes at statutory rates with the reported taxes is as follows:
|
|
|
2022
|
|
2021
|
| |
|
($)
|
|
($)
|
|
Loss for the year
|
|
(22,473,192 |
)
|
|
(17,840,147 |
)
|
| |
|
|
|
|
|
|
|
Expected income tax (recovery)
|
|
(6,070,000 |
)
|
|
(4,820,000 |
)
|
|
Change in statutory, foreign tax, foreign exchange rates and other
|
|
(12,000 |
)
|
|
294,000 |
|
|
Permanent differences
|
|
1,875,000 |
|
|
1,107,000 |
|
|
Share issue costs
|
|
370,000 |
|
|
432,000 |
|
|
Change in unrecognized deductible temporary differences
|
|
3,837,000 |
|
|
2,987,000 |
|
|
Income tax expense
|
|
—
|
|
|
—
|
|
|
| Schedule of Deferred Income Taxes |
The significant components of the Company’s deferred tax assets that have not been included on the consolidated balance sheets are as follows:
|
|
|
2022
|
|
2021
|
| |
|
($)
|
|
($)
|
|
Non-capital losses carry-forward
|
|
14,379,000 |
|
|
11,751,000 |
|
|
Evaluation assets
|
|
1,470,000 |
|
|
1,470,000 |
|
|
Share issuance costs
|
|
789,000 |
|
|
735,000 |
|
|
Debt with accretion
|
|
—
|
|
|
(70,000 |
)
|
|
Intangible assets
|
|
622,000 |
|
|
179,000 |
|
|
Other deferreds
|
|
12,000 |
|
|
37,000 |
|
|
Allowable capital losses
|
|
3,558,000 |
|
|
3,801,000 |
|
|
Property and equipment
|
|
76,000 |
|
|
35,000 |
|
| |
|
20,906,000 |
|
|
17,938,000 |
|
|
Unrecognized deferred tax assets
|
|
(20,906,000 |
)
|
|
(17,938,000 |
)
|
|
| Schedule of Deferred Income Taxes Unused Tax Credits and Unused Tax Losses |
The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated balance sheets are as follows:
|
Temporary Differences
|
|
2022
|
|
Expiry Date Range
|
|
2021
|
|
Expiry Date
Range
|
| |
|
($)
|
|
|
|
($)
|
|
|
|
Non-capital losses available for future periods – US
|
|
41,188,000 |
|
2036 to indefinite |
|
29,390,000 |
|
2036 to indefinite |
|
Non-capital losses available for future periods – Canada
|
|
21,739,000 |
|
2026 to 2042 |
|
20,664,000 |
|
2026 to 2041 |
|
Allowable capital losses
|
|
13,178,000 |
|
No expiry date |
|
14,077,000 |
|
No expiry date |
|
Property and equipment
|
|
270,000 |
|
No expiry date |
|
128,000 |
|
No expiry date |
|
Intangible assets
|
|
2,962,000 |
|
No expiry date |
|
853,000 |
|
No expiry date |
|
Exploration and evaluation assets
|
|
5,446,000 |
|
No expiry date |
|
5,446,000 |
|
No expiry date |
|
Share issuance costs
|
|
2,922,000 |
|
No expiry date |
|
2,724,000 |
|
No expiry date |
|