Kubera Gold — Interim / Quarterly Report 2024

Jul 31, 2024

KUBERA GOLD CORP.

Condensed Interim Financial Statements (Expressed in Canadian Dollars) (Unaudited – Prepared by Management)

For the three and six months ended June 30, 2024 and 2023

KUBERA GOLD CORP.

(the “Company”)

CONDENSED INTERIM FINANCIAL STATEMENTS As at and for the six months ended June 30, 2024

NOTICE OF NO AUDITOR REVIEW OF CONDENSED INTERIM FINANCIAL STATEMENTS

Management of the Company is responsible for the preparation of the accompanying unaudited condensed interim financial statements. The unaudited condensed interim financial statements have been prepared using accounting policies in compliance with International Financial Reporting Standards (“IFRS”) for the preparation of condensed interim financial statements and are in accordance with IAS 34 – Interim Financial Reporting.

The Company’s auditor has not performed a review of these condensed interim financial statements in accordance with the standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity’s auditor.

KUBERA GOLD CORP. Condensed Interim Statements of Financial Position (Expressed in Canadian dollars) (Unaudited – Prepared by Management) As at

		June 30,		December 31,
		2024		2023
Assets
Current Assets
Cash	$	467,352	$	38,824
GST receivable		23,038		14,505
Deferred financingcosts		-		103,176
		490,390		156,505
Exploration and evaluation assets(Note 4)		250,283		227,408
Total Assets	$	740,673	$	383,913
Liabilities and Shareholders’ Equity
Current Liabilities
Accountspayable and accrued liabilities	$	109,961	$	172,692
Shareholders’ Equity
Share capital (Note 5)		843,084		369,196
Reserves (Note 5)		77,976		3,750
Deficit		**(290,348) **		(161,725)
		630,712		211,221
Total Liabilities and Shareholders’ Equity	$	740,673	$	383,913

Nature of operations and going concern uncertainty (Note 1)

Approved on Behalf of the Board of Directors on July 31, 2024:

Rick Cox” Director	“Scott Ackerman”
	Director

The accompanying notes are an integral part of these Condensed Interim Financial Statements

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KUBERA GOLD CORP

Condensed Interim Statements of Loss and Comprehensive Loss (Expressed in Canadian dollars)

(Unaudited – Prepared by Management)

For the three months ended June 30, For the six months ended June 30, 2024 2023 2024 2023	For the three months ended June 30, For the six months ended June 30, 2024 2023 2024 2023
Operating expenses General and administrative $ 18$ 18$ 36 Consulting fees 15,000 - 30,000 Professional fees 24,321 7,000 35,684 Share based compensation 37,412 - 45,726 Transfer agent and filingfees 16,135 - 17,177	$ 36 - 7,000 - -
Loss for theperiod (92,886) (7,018) (128,623)	(7,036)
Weighted average number of common shares outstanding, basic and diluted 19,183,840 13,183,840 15,008,498	13,183,840
Basic and diluted net loss per share $ (0.005) $ (0.00) $ **(0.01) **	$ (0.00)

The accompanying notes are an integral part of these Condensed Interim Financial Statements

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KUBERA GOLD CORP.

Condensed Interim Statements of Changes in Shareholders’ Equity (Expressed in Canadian dollars)

(Unaudited – Prepared by Management)

Share Capital1 Number Amount Reserves Deficit	Total Shareholders’ Equity
Balance, December 31, 2023 13,183,840 $ 369,196 $ 3,750 $ (161,725)	$ 211,221
Private placement 6,000,000 750,000 - - Share issuance cost – cash - (247,612) - - Share issuance cost – finders’ warrants - (28,500) 28,500 - Share-based compensation - - 45,726 - Loss and comprehensive loss - - - (128,623)	750,000 (247,612) - 45,726 (128,623)
Balance, June 30, 2024 19,183,840 $ 843,084 $ 77,976 $ (290,348)	$ 630,712

Share Capital1 Number Amount Reserves Deficit	Total Shareholders’ Equity
Balance, December 31, 2022 13,183,840 $ 369,196 $ 3,750 $ (102,310)	$ 270,636
Loss and comprehensive loss - - - (7,036)	(7,036)
Balance, June 30, 2023 13,183,840 $ 369,196 $ 3,750 $ (109,346)	$ 263,600

1On September 19, 2023, the Company completed a consolidation of its issued and outstanding common shares on a 2.5:1 basis, and on May 31, 2024, the Company completed a forward split of its issued and outstanding common shares on a 1:2 basis. All share and per share information has been retroactively adjusted to reflect the share consolidation and forward split.

The accompanying notes are an integral part of these Condensed Interim Financial Statements

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KUBERA GOLD CORP. Condensed Interim Statements of Cash Flows (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30,

		2024		2023
Cash provided by / (used for):
Operating Activities:
Loss for the period	$	(128,623)	$		(7,036)
Items not affecting cash:
Deferred financing costs		103,176			-
Share-based compensation		45,726			-
Changes in non-cash working capital items:
Accounts payable and accrued liabilities		(62,731)			(4,981)
GST receivable		(8,533)			(3,361)
Cashprovided by/(used in) operating activities		(50,985)			(15,378)
Investing Activities:
Exploration and evaluation assets	$	(22,875)	$		(20,282)
Financing Activities:
Proceeds from IPO	$	750,000	$		-
Share issuance costs		(247,612)			-
Cashprovided by financing activities		502,388			-
Increase/(decrease) in cash for the period		428,528			(35,660)
Cash, beginning of the period		38,824			165,903
Cash, end of theperiod	$	467,352	$		130,243

Supplemental cash flow information (Note 9)

The accompanying notes are an integral part of these Condensed Interim Financial Statements

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

1. NATURE OF OPERATIONS AND GOING CONCERN UNCERTAINTY

Kubera Gold Corp. (“Kubera” or the “Company”) was incorporated September 28, 2018, in the Province of British Columbia, and on October 10, 2023, changed its name from Shafer Resources Corp. to Kubera Gold Corp. The Company’s head office is located at 515 – 701 West Georgia St, Vancouver, BC, V7Y 1C6 and its registered address is 2200 – 885 West Georgia St, Vancouver, BC V6C 3E8.

On March 11, 2024, the Company completed an initial public offering (“IPO”) and on March 13, 2024, became listed as a Tier 2 Mining issuer on the TSX Venture Exchange (“TSX-V” or “Exchange”). The Company’s trading symbol on the TSX-V is KBRA.

The Company is engaged in the exploration and development of mineral resources, currently focusing on projects in Ontario. At this time, the Company does not own any operating mines and has no operating income from mineral production. Funding for operations is raised primarily through share offerings. It is not known whether the Company’s mineral property contains reserves that are economically recoverable. The recoverability of amounts recorded by the Company for exploration and evaluation assets is dependent upon the discovery of economically recoverable reserves, the ability to raise funding for continued exploration and development, the completion of property option expenditures and acquisition requirements, or from proceeds from disposition.

These financial statements (“Financial Statements”) have been prepared with the assumption that the Company will realize its assets and discharge its liabilities in the normal course of business. The Company’s ability to meet its obligations and maintain its current operations through the ensuing twelve-month period and thereafter is contingent upon successful completion of additional financing arrangements and ultimately upon the discovery of proven reserves and generating profitable operations.

Management expects to be successful in arranging sufficient funding to meet operating commitments for the ensuing year. However, the Company's future capital requirements will depend on many factors, including the costs of exploring and developing its resource properties, operating costs, the current capital market environment, and global market conditions. As at June 30, 2024, the Company has working capital of $380,429 and a deficit of $290,348. Consequently, there is a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern. For significant expenditures and resource property development, the Company will depend almost exclusively on outside capital. Such outside capital will include the issuance of additional equity shares. There can be no assurance that capital will be available, as necessary, to meet the Company’s operating commitments and further exploration and development plans. The issuance of additional equity securities by the Company may result in significant dilution to the equity interests of current shareholders. The continued operations of the Company are dependent on its ability to develop a sufficient financing plan, receive continued financial support from related parties, complete sufficient equity financing, and ultimately generate profitable operations in the future. The Company has no assurance that it will be successful in its efforts. If the Company is unable to obtain financing in the amounts and on terms deemed acceptable, the future success of the business could be adversely affected.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

1. NATURE OF OPERATIONS AND GOING CONCERN UNCERTAINTY (continued)

These Financial Statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

2. BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICY DISCLOSURE INFORMATION

Statement of compliance

These Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and in accordance with International Accounting Standards (“IAS”) 34, Interim Financial Reporting. Accordingly, these Financial Statements do not include all of the information required for full annual financial statements and should be read in conjunction with the most recent audited annual financial statements of the Company as at and for the year ended December 31, 2023. The Board of Directors authorized these Financial Statements for issue on July 31, 2024.

Basis of preparation

These Financial Statements have been prepared on a historical cost basis, except for financial instruments classified as financial instruments at fair value through profit or loss, which are stated at their fair value. These Financial Statements are presented in Canadian dollars, which is also the Company’s functional currency. In addition, these Financial Statements have been prepared using the accrual basis of accounting except for cash flow information.

New and amended IFRS standards that are effective for the current year:

In the previous year, the Company applied the below amendment to IFRS Standards and Interpretations issued by the IASB that was effective for annual periods that begin on or after January 1, 2023. Its adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements.

Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgments—Disclosure of Accounting Policies

The amendments change the requirements in IAS 1 with regard to disclosure of accounting policies. The amendments replace all instances of the term "significant accounting policies" with "material accounting policy information." Accounting policy information is material if, when considered together with other information included in an entity’s financial statements, it can reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements.

The supporting paragraphs in IAS 1 are also amended to clarify that accounting policy information that relates to immaterial transactions, other events or conditions is immaterial and need not be disclosed. Accounting policy information may be material because of the nature of the related transactions, other events or conditions, even if the amounts are immaterial.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

2. BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICY DISCLOSURE INFORMATION (continued)

New and amended IFRS standards that are effective for the current year (continued):

Amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgments—Disclosure of Accounting Policies (continued)

However, not all accounting policy information relating to material transactions, other events or conditions is itself material. The International Accounting Standards Board ("IASB") has also developed guidance and examples to explain and demonstrate the application of the ‘four-step materiality process’ described in IFRS Practice Statement 2.

The amendment was applied effective January 1, 2023 and did not have a material impact on the Company's Financial Statements.

3. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

The preparation of these Financial Statements requires management to make certain estimates, judgements and assumptions that affect the reported amounts of assets and liabilities at the date of the Financial Statements and the reported expenses incurred during the period. Actual results could differ from these estimates. The preparation of these Financial Statements requires management to make judgements regarding the going concern of the Company, as discussed in Note 1. Significant assumptions about the future and other sources of estimation uncertainty that management has made at the end of the reporting period, which could result in a material adjustment to the carrying amounts of assets and liabilities in the event that actual results differ from assumptions made, relate to, but are not limited to, the following:

• Recoverability of exploration and evaluation assets (“E&E assets”)

The Company capitalizes E&E expenditures based on the judgment that the carrying amounts will be recoverable. Their recoverability depends on several factors such as the discovery of economically viable reserves, the Company’s ability to obtain the financing to develop them into profitable production or from the disposition of the E&E assets. As new information becomes available suggesting the recovery of these expenditures is unlikely, the capitalized costs are written off to profit or loss for the period.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

3. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (continued)

• Deferred tax assets and liabilities

The measurement of deferred income tax provisions is subject to uncertainty associated with the timing of future events and changes in legislation, tax rates and interpretations by tax authorities. The estimation of taxes includes evaluating the recoverability of deferred tax assets based on an assessment of the Company’s ability to utilize the underlying future tax deductions against future taxable income prior to expiry of those deductions. Management assesses whether it is probable that some or all of the deferred income tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income, which in turn is dependent upon the successful operations of the Company. To the extent that management’s assessment of the Company’s ability to utilize future tax deductions changes, the Company would be required to recognize more or fewer deferred tax assets, and deferred tax provisions or recoveries could be affected.

• Share-based compensation

The Company uses the Black-Scholes option pricing model to determine the fair value of stock options. The Black-Scholes’ fair value calculation requires management to make estimates and assumptions on future volatility of the stock price, risk-free interest rate, expected life, expected dividend yield and future forfeiture rate of options. Changes in any of these input assumptions could materially impact the share-based payment reserve and expense.

4. EXPLORATION AND EVALUATION ASSETS

Dash Lake Property, Ontario

On October 10, 2018, the Company entered into an option agreement to acquire a 100% interest in the Dash Lake property (the “Property”) located in the Kenora Mining Division, Northwestern Ontario, subject to a 1.5% net smelter royalty (“NSR”).

To earn the 100% interest, the Company is required to make total cash payments of $6,000, incur aggregate exploration expenditures of $75,000, and issue a total of 800,000 common shares of the Company as follows:

• Pay $6,000 (paid) and issue 160,000 common shares (issued) upon entering into of the Option Agreement;

• Within 10 days of completion of the minimum of $75,000 in exploration expenditures, issue 160,000 common shares (issued);

• Within 10 days of delivery of a National Instrument 43-101 report on the Property that meets the requirements of the Exchange, issue 320,000 shares (issued); and

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

4. EXPLORATION AND EVALUATION ASSETS (continued)

• After listing on the Exchange, upon the earlier of completion of an initial phase 1 work program of not less than $100,000, or the date, which is 12 months from listing on the Exchange, the Company will have 90 days to issue a final 160,000 common shares for 100% right, title and interest in the Property.

As at June 30, 2024 the Company’s exploration and evaluation assets consist of the following:

	June 30, 2024
Acquisition Costs:
Balance,beginningofperiod	$ 14,000
Balance,end ofperiod	$ 14,000
Exploration Costs:
Balance, beginning of period	$ 213,408
Equipment rental	7,680
Geological services	10,994
Geophysics	-
Soil assays	4,201
Total Exploration Costs	236,283
Balance, end ofperiod	$ 250,283

As at December 31, 2023, the Company’s exploration and evaluation assets consisted of the following:

	December 31, 2023
Acquisition Costs:
Balance,beginningofyear	$ 14,000
Balance,end ofyear	$ 14,000
Exploration Costs:
Balance, beginning of year	$ 162,993
Geological services	40,239
Geophysics	2,524
Soil assays	7,652
Total Exploration Costs	213,408
Balance, end of theyear	$ 227,408

5. SHARE CAPITAL

a) Authorized

Unlimited number of common shares without par value. Unlimited number of preferred shares without par value, of which none are issued.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

5. SHARE CAPITAL (continued)

b) Issued and outstanding

On September 19, 2023, the Company completed a consolidation of its issued and outstanding common shares on a 2.5:1 basis. All share and per share information in these Financial Statements has been retroactively adjusted to reflect the consolidation.

On March 11, 2024, the Company completed its IPO of 6,000,000 common shares at a price of $0.125 per share for gross proceeds of $750,000. The Company paid a cash commission of $45,000, a corporate finance fee of $30,000, $99,005 in legal fees, $20,578 in listing fees, and $3,200 in agent’s expenses, and granted to the agent, 360,000 agents’ options, with each agents’ option exercisable for one common share of the Company at a price of $0.125 until March 11, 2027. Deferred financing costs at June 30, 2024 are $nil (December 31, 2023: $103,176).

Upon completion of the IPO, an aggregate of 2,400,000 common shares of the Company are being held in escrow pursuant to the requirements of the Exchange. Ten percent of the escrowed common shares were released from escrow on March 11, 2024, and fifteen percent will be released every six months thereafter.

On May 31, 2024, the Company completed a forward split of it’s common shares on the basis of two new common shares for each one common share outstanding. All share and per share information in these Financial Statements has been retroactively adjusted to reflect the forward split.

c) Stock options

The Company has adopted a rolling 10% stock option plan (the “Plan”) which provides that the directors of the Company may grant options to purchase common shares of the Company to directors, officers, employees, and service providers, with the number of options being limited to 10% of the issued shares at the time of granting of options. The Board of Directors in its sole discretion may determine any vesting provisions for options. Options are equity settled. The exercise price shall be determined by the directors of the Company at the time of grant in accordance with the provisions of the Plan, with a minimum price of $0.05 or discounted market price. The expiry date for an option shall not be more than ten years from the grant date.

A summary of the Company’s stock option activity is as follows:

	Number of	Weighted Average
	Options	Exercise Price
Balance, December 31, 2023	300,000	$0.125
Granted	1,600,000	$0.125
Balance, June 30, 2024	1,900,000	$0.125

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

5. SHARE CAPITAL (continued)

c) Stock options (continued)

As at June 30, 2024, stock options outstanding and exercisable are as follows:

						Remaining
Grant	Number of Options	Options	Exercise	Expiry Date	Contractual Life
Date	Outstanding	exercisable	Price			(Years)
August 21,2019	200,000	200,000	$0.125	March 11,	2029	4.70
January2,2020	100,000	100,000	$0.125	March 11,	2029	4.70
March 11,2024	1,600,000	400,000	$0.125	March 11,	2029	4.70
Total	1,900,000	700,000	$0.125			4.70

On March 11, 2024, the Company granted an aggregate of 1,600,000 stock options to officers, directors, and a consultant to the Company. The options have an exercise price of $0.125 per share and expire on March 11, 2029. During the period ended June 30, 2024 the Company recognized share-based payments of $45,726 (2023 - $nil) related to stock options granted.

The Company also amended the expiry date of the 300,000 stock options currently outstanding to March 11, 2029.

The fair value of stock options at date of grant was estimated using the Black-Scholes Option Pricing Model using the following weighted average assumptions:

	June 30, 2024
Weighted average share price	$0.125
Risk-free interest rate	3.48%
Expected life of option	5.00 years
Expected annualized volatility	100%
Expected dividend rate	Nil

d) Agent options

The agent’s options were determined to have a fair value of $28,500 using a Black-Scholes option pricing model with the following assumptions; share price - $0.125, exercise price - $0.125, risk free interest rate – 3.48%, expected life – 3 years, and annualized volatility – 100%.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

5. SHARE CAPITAL (continued)

d) Agent options (continued)

A summary of the Company’s agent option activity is as follows:

		Number of	Number of	Weighted Average	Weighted Average	Weighted Average
			Options			Exercise Price
Balance, December 31,	2023		-			-
Issued			360,000			$0.125
Balance, June 30, 2024			360,000			$0.125
As at June 30,2024,outstandingagent options were as follows:
	Number of Agent					Remaining
	Options Outstanding	Exercise	Expiry Date		Contractual Life
Grant Date	and Exercisable	Price				(Years)
March 11,2024	360,000	$0.125	March 11,2027			2.70

6. CAPITAL MANAGEMENT

Capital is comprised of the Company’s shareholders’ equity and any debt that it may issue. The Company’s objectives when managing capital are to maintain financial strength and to protect its ability to meet its ongoing liabilities, to continue as a going concern, to maintain credit worthiness and to maximize returns for shareholders over the long term. Protecting the ability to pay current and future liabilities includes maintaining capital above minimum regulatory levels, current financial strength rating requirements and internally determined capital guidelines and calculated risk management levels.

The Company is not subject to any externally imposed capital requirements. There were no changes to management’s approach to capital management during the period.

7. RELATED PARTY TRANSACTIONS

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Related parties may be individuals or corporate entities. Key management personnel include persons having the authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has identified its directors and officers as its key management personnel.

A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

7. RELATED PARTY TRANSACTIONS (continued)

Other than the grant of stock options, there was no key management compensation during the period ended June 30, 2023 and 2024. As at June 30, 2024, there was $nil due to or from related parties.

On March 11, 2024, the Company granted an aggregate of 1,240,000 stock options to directors and officers of the Company (see Share Capital section), and the share-based compensation attributed to the directors and officers was $35,436.

There were no other related party transactions during the period ended June 30, 2024.

8. FINANCIAL AND CAPITAL RISK MANAGEMENT

Fair value of financial instruments

Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are described below:

Level 1 – quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and

• Level 3 – inputs for the asset or liability that are not based on observable market data (unobservable inputs).

As at June 30, 2024 the Company’s financial instruments consist of cash, receivables, and accounts payable and accrued liabilities. Cash and receivables are classified as a financial asset carried at amortized cost. Accounts payable and accrued liabilities are classified as amortized cost. The fair values of these financial instruments approximate their carrying values due to their short-term nature.

Financial instrument risk

The Company is exposed in varying degrees to a variety of financial instrument related risks. The Board of Directors approves and monitors the risk management processes. The type of risk exposure and the way in which such exposure is managed is provided as follows:

Credit risk

Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company’s credit risk is primarily attributable to its liquid financial assets including cash.

The Company limits the exposure to credit risk by only investing its cash with high-credit quality institutions. The Company’s maximum exposure to credit risk is equal to the carrying amount of cash and GST receivable. Management believes that the credit risk related to these instruments is negligible.

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KUBERA GOLD CORP. Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

8. FINANCIAL AND CAPITAL RISK MANAGEMENT (continued)

Financial instrument risk (continued)

Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due. The Company manages liquidity risk through the management of its capital structure and financial leverage as described in Note 6.

All the Company’s financial liabilities are classified as current and are anticipated to mature within the next fiscal period. The Company intends to settle these with funds from its positive working capital position.

Foreign exchange risk

Currency risk is the risk that the fair value or future cash flows from a financial instrument will fluctuate due to changes in foreign exchange rates. As at June 30, 2024, the Company’s cash, GST receivable, accounts payable and accrued liabilities are denominated in Canadian dollars. As such, the Company is not subject to any foreign exchange risk.

Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to interest rate risk to the extent that the cash maintained at the financial institutions is subject to a floating rate of interest. The interest rate risk on cash is not considered significant.

Price risk

The Company is exposed to price risk with respect to equity prices. Equity price risk is defined as the potential adverse impact on the Company’s earnings due to movements in individual equity prices or general movements in the level of the stock market. Management closely monitors individual equity movements and the stock market to determine the appropriate course of action to be taken by the Company.

9. SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS

The Company paid $nil (2023 - $nil) for interest and income taxes.

During the current period, there were two non-cash items; deferred financing costs and share based compensation, which amounted to a total of $113,241.

Exploration and evaluation assets included in accounts payable and accrued liabilities as at June 30, 2024 are $71,873 (December 31, 2023: $107,988).

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KUBERA GOLD CORP.

Notes to the Condensed Interim Financial Statements (Expressed in Canadian dollars) (Unaudited – Prepared by Management) For the six months ended June 30, 2024 and 2023

9. SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS (continued)

There were no deferred financing costs included in accounts payable and accrued liabilities as at June 30, 2024 (December 31, 2023: $34,031).

10. SEGMENTED INFORMATION

The Company operates in a single operating segment, being the exploration and evaluation of mineral properties in Canada. All of the Company’s assets are located in Canada.

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