Financial Statements

TRS.CDNX Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

  3 Months Ended May 31, 2001 3 Months Ended May 31, 2000

CASH FLOWS FROM OPERATING ACTIVITIES

   

Loss for the period

$ (15,902) $ (14,121)

Items not affecting cash:

Amortization

- -

Write-off of mineral properties

- -

Changes in non-cash working capital items:

Decrease in accounts receivable

1,377 7,319

Increase (decrease) in accounts payable

(14,833) 2,899

Increase (decrease) in due to related parties

(3,920) 10,700

Decrease in subscriptions receivable

10,150 -
     

Net cash provided by (used in) operating activities

(23,128) 6,797

CASH FLOWS FROM FINANCING ACTIVITIES

   

Issuance of capital stock

291,800 100,750

Share subscriptions received

32,350 (33,000)
     

Net cash provided by financing activities

324,150 67,750

CASH FLOWS FROM INVESTING ACTIVITIES

   

Mineral properties, net of recoveries

(216,250) (46,250)

Deferred exploration costs, net of recoveries

(18,611) (18,702)
     

Net cash used in investing activities

(234,861) (64,952)
     

Change in cash position for the period

66,161 9,595

Cash position, beginning of period

123,315 496

Cash position, end of period

$       189,476 $       10,091

 Supplemental disclosure with respect to cash flows (Note 10)

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



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