Company: WOLV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001062993-25-001810
Chunk: 14

Company: Wolverine Resources Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Item 8
Chunk 14
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3. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated. As at November, 2024, we had cash of $11,851, and had a working capital deficiency in the amount of $94,124. As of  November, 2024, we do not have sufficient working capital to enable us to carry out our stated plan of operation for the next twelve months.Plan of OperationThe Plan of Operation for the next 12 months is to raise $114,000 (CDN$152,000) for the next phase of exploration program on the Frog Property.4It is recommended that airborne magnetics and radiometrics surveys be completed over the Property. Rare earth mineralization is generally associated with uranium mineralization and radiometrics should define promising areas for follow-up examination.The area of the strong magnetic anomaly is completely covered in glacial tills and no outcrop is evident. Prospecting should be completed expanding the 2021 range of coverage focusing on the north and south limits of the large magnetic anomaly at the cliff edges where the steep valley ridges demonstrate spalling of rocks into scree piles. Additional prospecting should be completed following the airborne geophysical surveys as well, focusing on both radiometric and magnetic anomalies.It is estimated that the next phase of exploration would cost $114,000 (Cdn$152,000), as itemized in Table 4.ProgramDescription Cost Airborne GeophysicsProperty wide$56,250 (Cdn$75,000)Prospecting7 people x 14 days$18,375 (Cdn$24,500)Mob/demobHelicopter/Float Plane$18,750 (Cdn$25,000)Analytical100 samples$3,750 (Cdn$5,000)Camp $6,750 (Cdn$9,000)Contingencies~ 10%$10,125 (Cdn$13,500)Total $114,000 (Cdn$152,000)Table 4: RecommendedBudget - Frog Property   As at November 30, 2024, we did not have cash and we will need to raise additional financing to fund our plan of operation over the next 12 months.The continuation of our business is dependent upon obtaining further financing and achieving a profitable level of operations. The issuance of additional equity securities