Minfocus Exploration : Management Discussion And Analysis For The Nine Months Ended November 30, 2020

MINFOCUS EXPLORATION CORP.

CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED NOVEMBER 30, 2020

UNAUDITED - PREPARED BY MANAGEMENT

(EXPRESSED IN CANADIAN DOLLARS)

The accompanying unaudited condensed interim consolidated financial statements of Minfocus Exploration Corp. for the nine months ended November 30, 2020, have been prepared by management and approved by the Audit Committee and the Board of Directors of the Company. These condensed interim consolidated financial statements have not been reviewed by the Company's external auditor.

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

Minfocus Exploration Corp.

Condensed Interim Consolidated Statements of Financial Position Unaudited - prepared by management

(Expressed in Canadian Dollars)

	November 30,	February 29,
	2020	2020
	$	$
ASSETS
Current assets
Cash	56,219	10,305
Amounts receivable	5,966	748
Prepaid expenses	-	-
Total current assets	62,185	11,053
Reclamation bonds	5,649	5,649
Exploration and evaluation assets (Note 6)	855,890	760,479
Total assets	923,724	777,181
SHAREHOLDERS' EQUITY AND LIABILITIES
Current liabilities
Trade and other payables (Note 9)	353,569	342,869
Loan payable (Note 10)	10,745	10,000
Total liabilities	364,314	352,869
Shareholders' equity
Issued capital (Note 7)	7,505,315	7,307,293
Equity reserve (Note 7)	324,233	247,801
Deficit	(7,270,138)	(7,130,782)
Total shareholders' equity	559,410	424,312
Total shareholders' equity and liabilities	923,724	777,181

Going concern (Note 1)

Subsequent event (Note 11)

These financial statements were approved by the Board of Directors and authorized for issue on January 20, 2021.

(s) Alicia Milne

, Director

(s) Jody Bellefleur

, Director

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

Minfocus Exploration Corp.

Condensed Interim Consolidated Statements of Loss and Comprehensive Loss Unaudited - prepared by management

(Expressed in Canadian Dollars)

	Three months	Three months	Nine	Nine
	ended	ended	months ended	months ended
	November 30,	November 30,	November 30,	November 30,
	2020	2019	2020	2019
	$	$	$	$
General and administrative expenses
Audit and accounting fees (Note 9)	1,500	1,500	15,999	6,500
Advertising and promotion	4,703	-	6,764	-
Consulting fees (Note 9)	30,000	-	30,000	-
Depreciation	-	175	-	976
Filing and transfer agent fees	14,584	1,071	25,406	11,593
Office and administrative	1,406	1,196	2,114	4,972
Professional fees	160	-	320	161
Share-based payments (Note 7)	76,432	-	76,432	-
Total general and administrative expenses	128,785	3,942	157,035	24,202
Other income
Write-off of accounts payable	-	-	17,679	-
Terminal loss on sale of assets	-	2,536	-	2,536
Net loss and comprehensive loss	128,785	6,478	139,356	26,738
Basic and diluted net loss per share (Note 8)	0.01	0.00	0.01	0.00

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