Macarthur Minerals : Interim Consolidated Financial Statements Quarter End June 30, 2023

ABN 93 103 011 436

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited - prepared by Management)

For the Three months ended June 30, 2023

All amounts are in Australian dollars unless otherwise stated

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Condensed Interim Consolidated Financial Statements - June 30, 2023

Contents	Page
Condensed Interim Consolidated Statement of Financial Position	3
Condensed Interim Consolidated Statement of Profit and Loss and Other
Comprehensive Income/(Loss)	4
Condensed Interim Consolidated Statement of Changes in Shareholders' Equity	5
Condensed Interim Consolidated Statement of Cash Flows	6
Notes to the Condensed Interim Consolidated Financial Statements	7-20

This condensed interim financial report covers the consolidated financial statements for the entity consisting of Macarthur Minerals Limited and its subsidiaries. The financial report is presented in the Australian currency.

The Company's registered office and principal place of business is detailed on page 7.

The financial report was authorised for issue by the directors on August 14, 2023. The directors have the power to amend and reissue the financial report.

NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

The Management of the Company is responsible for the preparation of the accompanying unaudited condensed interim consolidated financial statements. The unaudited condensed interim consolidated financial statements have been prepared using accounting policies in compliance with International Financial Reporting Standards ("IFRS") for the preparation of the condensed interim consolidated 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 consolidated financial statements.

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MACARTHUR MINERALS LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT JUNE 30, 2023

(Expressed in Australian Dollars)

(Unaudited)		Notes	June 30,	March 31,
			2023	2023
			$	$
ASSETS
Current
Cash and cash equivalents			870,483	1,944,332
Other receivables			201,496	166,168
Security deposits and other assets		57,605	106,704
Total current assets			1,129,584	2,217,204
Non-Current
Plant and equipment			48,843	51,104
Right of use asset			123,790	140,671
Investment in Infinity Mining Ltd		14	2,923,896	4,048,112
Exploration and evaluation assets	4	74,521,901	74,230,421
Total non-current assets			77,618,430	78,470,308
Total assets			78,748,014	80,687,512
LIABILITIES
Current
Trade and other payables			240,508	331,269
Provisions			23,778	110,285
Lease liabilities			58,932	76,725
Total current liabilities			323,218	518,279
Non-Current
Provisions			19,436	20,217
Lease liabilities			73,632	72,672
Total non-current liabilities			93,068	92,889
Total liabilities			416,286	611,168
Net assets			78,331,728	80,076,344
SHAREHOLDERS' EQUITY
Contributed equity			128,241,540	128,197,540
Reserves		5	10,649,343	10,586,408
Accumulated Losses			(60,559,155)	(58,707,604)
Total shareholders' equity			78,331,728	80,076,344
Nature and continuance of operations (Note 1)	Contingent liabilities (Note 15)
Subsequent events (Note 16)
On behalf of the Board of Directors:
"Cameron McCall"	Director	"Andrew Suckling"	Director

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

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MACARTHUR MINERALS LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME/(LOSS) FOR THE THREE MONTHS ENDED JUNE 30, 2023 (Expressed in Australian Dollars)

(Unaudited)

	Three months	Three months
	ended June 30,	ended June 30,
	2023	2022
	$	$
EXPENSES
Depreciation - plant and equipment	(2,260)	(4,406)
Depreciation - Right of use asset	(16,881)	(14,148)
Exploration expense	-	-
Investor relations	(91,550)	(70,934)
Loss from share of associate (Note 14)	(115,151)	(91,843)
Impairment of investment in associate (Note 14)	(1,089,305)	(133,781)
Office and general	(77,547)	(54,575)
Personnel fees	(208,089)	(947,090)
Professional fees	(174,700)	(290,665)
Share-based compensation	(62,935)	(1,480,726)
Share registry, filing and listing fees	(28,907)	(54,538)
Travel and accommodation	(13,353)	(52,779)
Borrowing costs	(4,245)	(8,805)
	(1,884,923)	(3,204,290)
REVENUE
Interest Income	8,919	33
Other Income	5,593	53,336
Net rental income/(expense) from associated entity	8,879	-
Gain on foreign exchange	9,982	38,532
Gain/(Loss) on change in fair value of warrant liability (Note 5)	-	519,131
	33,373	611,032
Profit/(loss) before income tax from continuing operations	(1,851,550)	(2,593,258)
Income tax expense	-	-
Total comprehensive income/(loss) for the period	(1,851,550)	(2,593,258)
Basic and diluted profit/(loss) per ordinary share	(0.0112)	(0.0160)
Basic and diluted weighted average number of ordinary shares
outstanding	165,677,664	161,578,763

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

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MACARTHUR MINERALS LIMITED

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY

Note	Number of	Contributed	Accumulated	Reserves	Total Equity
	Shares	Equity	losses
	#	$	$	$	$
Balance at April 1, 2022	146,253,488	121,772,352	(53,822,789)	7,693,697	75,643,260
Net profit/(loss) for the period	-	-	(2,593,258)	-	(2,593,258)
Other comprehensive loss for the period	-	-	-	-	-
Share-based payment transactions	-	-	-	2,533,591	2,533,591
Bonus shares	4,400,000	1,430,000	-	-	1,430,000
Private Placement	15,000,000	7,500,000	-	-	7,500,000
Cost of Share Capital	-	(2,997,998)	-	-	(2,997,998)
Balance at June 30, 2022	165,653,488	127,704,354	(56,416,047)	10,227,288	81,515,595
Balance at April 1, 2023	165,653,488	128,197,540	(58,707,605)	10,586,408	80,076,343
Net loss for the period	-	-	(1,851,550)	-	(1,851,550)
Share-based payment transactions	-	-	-	62,935	62,935
Share issue in exchange for Consultancy fees	200,000	44,000	-	-	44,000
Balance at June 30, 2023	165,853,488	128,241,540	(60,559,155)	10,649,343	78,331,728
(Expressed in Australian Dollars) (Unaudited)

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

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