Sierra Grande Minerals : 2021 Q3 Financial Statement

Sierra Grande Minerals Inc.

(Formerly Sierra Growth Corp.)

Condensed Consolidated Interim Financial Statements

Three and Nine Months Ended September 30, 2021, and 2020

(Unaudited - Expressed in Canadian Dollars)

NOTICE TO READER

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

The accompanying unaudited condensed interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management. The unaudited condensed interim consolidated financial statements have been prepared using accounting policies in compliance with International Financial Reporting Standards for the preparation of the condensed interim financial statements and are in accordance with IAS 34 - Interim Financial Reporting.

The Company's independent auditor has not performed a review of these unaudited condensed interim consolidated financial statements in accordance with standards established by the Canadian Chartered Professional Accountants for a review of interim financial statements by an entity's auditor.

SIERRA GRANDE MINERALS INC. (FORMERLY SIERRA GROWTH CORP.) CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

(Unaudited-Expressed in Canadian dollars)

		September 30,	December 31,
	Notes	2021	2020
		$	$
ASSETS
Current Assets
Cash		219,205	223,337
Prepaid		47,130	-
Receivables		15,227	6,662
		281,562	229,999
Deposit	4	-	12,700
Exploration and evaluation assets	4	347,319	-
TOTAL ASSETS		628,881	242,699
LIABILITIES
Current Liabilities
Trade payables and accrued liabilities	5, 7	154,566	150,426
TOTAL LIABILITIES		154,566	150,426
SHAREHOLDERS' EQUITY
Share capital	6	12,158,372	11,414,732
Reserves	6	4,634,651	4,371,153
Deficit		(16,318,708)	(15,693,612)
TOTAL EQUITY		474,315	92,273
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY		628,881	242,699
Nature and continuance of operations	1
On Behalf of the Board
"Sonny Janda"		"Shaun Dykes"
Sonny Janda, Director		Shaun Dykes, Director

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

SIERRA GRANDE MINERALS INC. (FORMERLY SIERRA GROWTH CORP.) CONDENSED CONSOLIDATED INTERIM STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

(Unaudited - Expressed in Canadian dollars)

	Three months ended	Nine months ended
		September 30,	September 30,
	2021	2020	2021	2020
Operating expenses	$	$	$	$
Amortization	-	270	-	810
Exploration, general	-	-	29,649	-
Filing and transfer fees	2,473	5,135	49,557	16,395
Management and consulting (Note 7)	53,756	69,460	179,506	171,460
Office, occupancy, and general	723	10,493	26,338	37,812
Promotion and communication with shareholders	19,523	-	44,452	-
Professional fees	2,000	16,972	32,096	30,875
Share-based compensation	8,498	-	263,498	44,000
Loss before the followings:	(86,973)	(102,330)	(625,096)	(301,352)
Impairment of exploration and evaluation assets	-	1,722,878)	-	(1,722,878)
Net and comprehensive loss	(86,973)	(1,825,208)	(625,096)	(2,024,230)
Basic and diluted loss per share	(0.00)	(0.04)	(0.01)	(0.05)
Weighted average number of common
shares outstanding - basic and diluted	53,626,095	41,107,095	51,424,952	41,107,095

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

SIERRA GRANDE MINERALS INC. (FORMERLY SIERRA GROWTH CORP.)

CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (DEFICIENCY) (Unaudited - Expressed in Canadian dollars, except share number)

	Share Capital		Reserves
	Number	Amount		Option	Warrant	Deficit	Total
		$		$	$	$	$
Balance at December 31, 2019	41,107,095	11,414,732	-	2,872,403	1,454,750	(13,785,541)	1,956,344
Share-based compensation	-	-		44,000	-	-	44,000
Net loss for the period	-	-		-	-	(2,024,230)	(2,024,230)
Balance at September 30, 2020	41,107,095	11,414,732	-	2,916,403	1,454,750	(15,809,771)	(23,886)

Balance at December 31, 2020	41,107,095	11,414,732	-	2,916,403	1,454,750	(15,693,612)	92,273
Shares issuance for cash	12,519,000	743,640		-	-	-	743,640
Share-based compensation	-	-		263,498	-	-	255,000
Net loss for the period	-	-		-	-	(625,096)	(625,096)
Balance at September 30, 2021	53,626,095	12,158,372	-	3,179,901	1,454,750	(16,318,708)	465,817

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