Waseco Resources : Three and Nine Months Condensed Interim Consolidated Financial Statements, November 30, 2022

(an exploration stage company)

Condensed Interim Consolidated Financial Statements

(Expressed in Canadian dollars)

As at and for the Three and Nine Months Ended

November 30, 2022 and 2021

NOTICE TO READERS REVIEW OF CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

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

The accompanying unaudited interim consolidated condensed financial statements of the Company have been prepared by

and are the responsibility of management.

The Statements for the three and six months ended August 31, 2022 and 2021 have not been reviewed by the Company's auditors.

(an exploration stage company)

MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

The accompanying condensed interim consolidated financial statements of Waseco Resources Inc. [the "Company"] are the responsibility of the management and have been approved by the Board of Directors of the Company.

The condensed interim consolidated financial statements have been prepared by management, on behalf of the Board of Directors, in accordance with the accounting policies as disclosed in the notes to the condensed interim consolidated financial statements. Where necessary, management has made informed judgments and estimates in accounting for transactions which were not complete at the statement of financial position date. In the opinion of management, the consolidated financial statements have been prepared fairly, in all material respects and are in accordance with International Financial Reporting Standards using accounting policies consistent with International Financial Reporting Standards appropriate in the circumstances.

The Board of Directors is responsible for reviewing and approving the consolidated financial statements together with other financial information of the Company and for ensuring that management fulfills its financial reporting responsibilities. An Audit Committee assists the Board of Directors in fulfilling this responsibility. The Audit Committee meets with management to review the financial reporting process and the consolidated financial statements together with other financial information of the Company. The Audit Committee reports its findings to the Board of Directors for its consideration in approving the consolidated financial statements together with other financial information of the Company for issuance to the shareholders.

Management recognizes its responsibility for conducting the Company's affairs in compliance with established financial standards, and applicable laws and regulations, and for maintaining proper standards of conduct for its activities.

As the Company is a Venture Issuer (as defined under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings) ("NI 52-109"), the Company and Management are not required to include representations relating to the establishment and/or maintenance of disclosure controls and procedures ("DC&P") and/or ICFR, as defined in NI 52-109.

"Richard Williams"	"Jim O'Neill"
President & CEO	Chief Financial Officer

Condensed Interim Consolidated Statements of Financial Position (Unaudited - Expressed in Canadian dollars)

	November 30,	February 28,
As at		2022		2022
Assets
Current Assets
Cash	$	478	$	3,894
HST recoverable		5,348		1,997
BLM Exploration Bond (Note 5)		-		22,526
Total assets	$	5,826	$	28,417
Liabilities
Current Liabilities
Trade payables and accruals	$	78,805	$	91,183
Advances payable (Note 6)		490,077		469,944
Shareholders' loans (Note 7)		5,000		5,000
Total current liabilities		573,882		566,127
Exploration deposits (Note 8)		326,134		329,876
Total liabilities		900,016		896,003
Deficiency in Assets
Share capital (Note 9)	6,473,483		6,473,483
Share payment reserve		73,418		73,418
Deficit	(7,440,364)	(7,414,487)
Total shareholders' equity	(893,463)	$	867,586
Total liabilities and shareholder equity	$	5,826	$	28,417

The accompanying notes form an integral part of the condensed interim consolidated financial statements. Nature of Operations and Going Concern (Note 1)

Approved by the Board:

"Derek Bartlett"	"Richard Williams"
Director		CEO & Director

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited - Expressed in Canadian dollars)

		Three months ended	Nine months ended
	November 30,	November 30,	November 30,	November 30,
		2022	2021		2022	2021
Revenues
Operator (note 9)	$	729	$ 1,000	$	729	$ 1,723
		-	1,000		-	1,723
Expenses
General and administrative		158	347		498	1,529
Exploration and evaluation
expenditures (Note 8)		3,742	-		3,742	3,614
Professional fees		1,697	2,855		6,289	9,110
Share based compensation		-	-		-	73,418
Shareholder relations and regulatory
fees		3,728	523		15,527	9,783
Foreign exchange (gains) losses		-	557		550	1,402
		9,325	4,282		26,606	98,856
Net Loss and Comprehensive Loss		$ (8,596)	$ (3,282)	$ (25,877)	$ (97,133)
Loss per share - basic and diluted		(0.00)	(0.00)		(0.00)	(0.001)
weighted average number of shares -
basic and fully diluted		41,681,390	41,681,390	41,681,390	41,681,390

The accompanying notes form an integral part of the condensed interim consolidated financial statements.

Condensed Interim Consolidated Statements of Changes in Equity (Unaudited - Expressed in Canadian dollars)

	Share Capital
				Share
	Number of			Payment
	Shares	Amount		Reserve	Deficit	Total
Balance at February 28, 2021	41,681,300	6,473,483	59,920	(7,375,136)	(841,733)
Value of options expired			(59,920)	59,920	-
Value of options granted			73,418		73,418
Comprehensive loss for the
period					(97,133)	(97,133)
Balance at November 30, 2021	41,681,300	6,473,483	73,418	(7,412,349)	(865,448)
Comprehensive loss for the
period					(2,138)	(2,138)
Balance at February 28, 2022	41,681,300	6,473,483	73,418	(7,414,487)	(867,586)
Comprehensive loss for the
period					(25,877)	(25,877)
Balance at November 30, 2022	41,681,300	6,473,483	73,418	(7,440,364)	(893,463)

The accompanying notes form an integral part of the condensed interim consolidated financial statements.