Financial Statements

TRS.CDNX Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

  3 Months Ended November 30, 2001 9 Months Ended November 30, 2001 3 Months Ended November 30, 2000 9 Months Ended November 30, 2000

CASH FLOWS FROM OPERATING ACTIVITIES

       

Loss for the period

$ (15,250) $ (66,612) $ (10,234) $ (44,465)

Items not affecting cash:

Amortization

- - - -

Write-off of mineral properties

- - - -

Changes in non-cash working capital items:

(Increase) decrease in accounts receivable

5,270 (96) 2,084 9,996

Increase (decrease) in accounts payable

(14,695) (18,430) (8,185) 1,531

Increase (decrease) in due to related parties

- (10,347) (40,192) (5,442)

Decrease in subscriptions receivable

- 10,150 - -
         

Net cash provided by (used in) operating activities

(24,675) (85,335) (56,527) (38,380)

CASH FLOWS FROM FINANCING ACTIVITIES

       
Decrease in note receivable 2,000 2,000 - -

Issuance of capital stock

142,900 725,261 - 100,750

Share subscriptions received

143,500 25,700 77,800 44,800
         

Net cash provided by financing activities

288,400 752,961 77,800 145,550

CASH FLOWS FROM INVESTING ACTIVITIES

       
Purchase of capital assets (546) (546) - -

Mineral properties, net of recoveries

(228,600) (551,850) 3,000 (43,250)

Deferred exploration costs, net of recoveries

(56,023) (140,488) (16,440) (46,026)
         

Net cash used in investing activities

(285,169) (692,884) (13,440) (89,279)
         

Change in cash position for the period

(21,444) (25,258) 7,833 17,894

Cash position, beginning of period

119,501 123,315 10,557 496

Cash position, end of period

$       98,057 $       98,057 $       18,390 $       18,390

 Supplemental disclosure with respect to cash flows (Note 10)

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



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