v3.21.4

Condensed Interim Consolidated Balance Sheets (Current Period Unaudited)	Nov. 30, 2021 CAD ($)	May 31, 2021 CAD ($)
Current assets
Cash and cash equivalents	$ 6,547,311	$ 5,121,495
Accounts receivable	115,582	11,741
Prepaid expenses	93,161	499,747
Total current assets	6,756,054	5,632,983
Property and equipment	176,078	73,457
Right-of-use assets	59,545	88,996
Capitalized acquisition costs (note 4)	5,765,398	5,268,783
Total assets	12,757,075	11,064,219
Current liabilities
Accounts payable and accrued liabilities (note 7)	886,698	1,835,240
Lease liabilities	64,025	67,287
Note payable (note 5)	18,706,453	5,742,007
Total current liabilities	19,657,176	7,644,534
Asset retirement obligations (note 4)	346,176	326,691
Lease liabilities	5,730	32,600
Total liabilities	20,009,082	8,003,825
Shareholders’ equity (deficit)
Share capital (note 6)	125,012,169	124,919,558
Contributed surplus (note 5)	20,694,371	17,769,880
Accumulated other comprehensive income - cumulative translation differences	748,186	826,016
Deficit accumulated during the exploration stage	(153,706,733)	(140,455,060)
Total shareholders’ equity (deficit)	(7,252,007)	3,060,394
Total liabilities and shareholders’ equity (deficit)	$ 12,757,075	$ 11,064,219

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

Corvus Gold Inc. 10-Q