First Uranium Resources : Interim Financial Statements

KARAM MINERALS INC.

Condensed Interim Financial Statements

For the three and six months ended December 31, 2020 and 2019 (Expressed in Canadian Dollars)

(Unaudited)

NOTICE TO READER

Under National Instrument 51-102 "Continuous Disclosure Requirements", Part 4, Subsection 4.3(3)(a), if an auditor has not performed a review of the unaudited interim financial statements, they must be accompanied by a notice indicating that the unaudited interim financial statements have not been reviewed by an auditor.

The accompanying unaudited interim financial statements of the Company have been prepared by and are the responsibility of the Company's management. The Company's independent auditor has not performed a review of these unaudited interim financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.

KARAM MINERALS INC.

Condensed Interim Statements of Financial Position (Expressed in Canadian Dollars)

(Unaudited)

			December 31,		June 30,
				2020		2020
	Assets
	Current
	Cash	$	8,269	$	22,453
	Receivables			9,083		5,588
				17,352		28,041
	Mineral property (note 4)			1		1
				1		1
		$	17,353	$	28,042
	Liabilities and shareholders' equity
	Liabilities
	Current
	Accounts payable and accrued liabilities (note 7)	$	34,746	$	68,764
	Promissory notes			23,931		23,075
				58,677		91,839
	Shareholders' equity
	Common shares (note 5)			638,464		522,964
	Contributed surplus			87,278		87,278
	Deficit			(767,066)		(674,039)
				(41,324)		(63,797)
	Total liabilities and shareholders' equity	$	17,353	$	28,042
Approved on behalf of the Board:
	"Michael Sadhra" (signed)		"Desmond Balakrishnan" (signed)
	Director			Director

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

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KARAM MINERALS INC.

Condensed Interim Statements of Comprehensive Loss (Expressed in Canadian Dollars)

(Unaudited)

		Three months ended		Six months ended
		December 31,			December 31,
		2020		2019		2020		2019
Operating expenses
Corporate administration	$	20,000	$	500	$	50,000	$	500
Interest and bank charges		534		63		1,016		88
Management fees (note 7)		15,000		13,500		19,500		27,000
Professional fees		13,290		7,497		13,290		34,372
Transfer agent and filing fees		8,183		6,832		9,221		10,283
Net loss and comprehensive
loss for the period	$	(57,007)	$	(28,392)	$	(93,027)	$	(72,243)
Basic and diluted loss per
share	$	(0.00)	$	(0.00)	$	(0.01)	$	(0.00)
Weighted average number of
common shares
outstanding		17,515,173		17,351,000		17,433,086		17,351,000

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

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KARAM MINERALS INC.

Condensed Interim Statement of Changes in Equity (Expressed in Canadian Dollars)

(Unaudited)

	Common Shares
					Total
			Contributed		Shareholders'
	Number	Amount	Surplus	Deficit	Equity
	Outstanding	$	$	$	$
Balance, June 30, 2019	17,351,000	522,964	87,278	(417,785)	192,457
Net loss for the period	-	-	-	(72,243)	(72,243)
Balance, December 31, 2019	17,351,000	522,964	87,278	(490,028)	120,214
Balance, June 30, 2020	17,351,000	522,964	87,278	(674,039)	(63,797)
Net loss for the period	-	-	-	(93,027)	(93,027)
Debt settlement	888,461	115,500	-	-	115,500
Balance, December 31, 2020	18,239,461	638,464	87,278	(767,066)	(41,324)

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

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