40-F

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

____________________

FORM 40-F

[   ] Registration statement pursuant to Section 12 of the Securities Exchange Act of 1934

or

[ X ] Annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended: December 31, 2018 Commission File Number: 001-35571

____________________

Gold Standard Ventures Corp.
(Exact name of registrant as specified in its charter)

British Columbia	1040	Not Applicable
(Province or Other Jurisdiction of Incorporation or Organization)	(Primary Standard Industrial Classification Code)	(I.R.S. Employer Identification No.)

Suite 610 – 815 West Hastings Street
Vancouver, B.C. V6C 1B4
(604) 669-5702
(Address and telephone number of registrant’s principal executive offices)

____________________

Gold Standard Ventures (US) Inc.
2320 Last Chance Road
Elko, Nevada 89801
(775) 738-9572
(Name, address (including zip code) and telephone number (including area code) of agent for service in the United States)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class:	Name of Each Exchange On Which Registered:
Common Shares, no par value	NYSE American LLC

____________________

Securities registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

For annual reports, indicate by check mark the information filed with this form:

[ X ] Annual Information Form [ X ] Audited Annual Financial Statements

Indicate the number of outstanding shares of each of the registrant’s classes of capital or common stock as of the close of the period covered by the annual report: As of December 31, 2018, there were 259,809,678 common shares outstanding.

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

[ X ] Yes [   ] No 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files).

[ X ] Yes [   ] No

Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

[   ] Emerging growth company

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]

EXPLANATORY NOTE

Gold Standard Ventures Corp. (the “Registrant”, “we” or “us”) is a Canadian corporation eligible to prepare this annual report (the “Annual Report”) pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), on Form 40-F pursuant to the multi-jurisdictional disclosure system of the Exchange Act. We are a “foreign private issuer” as defined in Rule 3b-4 under the Exchange Act. Accordingly, our equity securities are exempt from Sections 14(a), 14(b), 14(c), 14(f) and 16 of the Exchange Act pursuant to Rule 3a12-3.

PRINCIPAL DOCUMENTS

The following documents have been filed as part of this Annual Report on Form 40-F and incorporated by reference herein:

A. Annual Information Form

Our Annual Information Form (the “AIF”) for the year ended December 31, 2018 is attached as Exhibit 99.1 of this Annual Report on Form 40-F.

B. Audited Annual Financial Statements

Our audited annual financial statements (“Audited Financial Statements”) for the year ended December 31, 2018, including the Independent Auditors’ Report of Registered Public Accounting Firm, are attached as Exhibit 99.2 of this Form 40-F. The Audited Financial Statements are stated in Canadian Dollars (CDN$) and are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).

C. Management’s Discussion and Analysis

Our management’s discussion and analysis (the “MD&A”) for the year ended December 31, 2018 is attached as Exhibit 99.3 of this Form 40-F.

D. Certifications

See Exhibits 31.1, 31.2, 32.1 and 32.2 to this Form 40-F.

FORWARD LOOKING STATEMENTS

This Annual Report on Form 40-F and the exhibits attached hereto contain “forward-looking statements,” as defined in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Exchange Act, that are based on our current expectations, assumptions, estimates and projections. These forward-looking statements are subject to various known and unknown risks and uncertainties. Generally, the forward-looking statements can be identified by the use of terminology followed by or that include words such as “may”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “seeks”, “plans”, “intends”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, or the negative of those words or other similar or comparable words. Forward-looking statements may relate to future financial conditions, results of operations, plans, objectives, performance or business developments.

Forward looking statements include known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those projected in the forward-looking statements made by, or on our behalf. The forward looking statements referred to in our Annual Information Form (the “AIF”) attached hereto as Exhibit 99.1 under the headings Item 2.1 “Cautionary Note Regarding Forward Looking Statements and Forward Looking Information” and Item 7.1 “Risks Relating to the Company” and in the documents incorporated by reference to this Form 40-F are not exhaustive of the factors that may affect any of our forward-looking statements. In addition, although we have attempted to identify important factors that could cause actual achievements, events or conditions to differ materially from those identified in the forward-looking statements, there may be other factors that cause achievements, events or conditions not to be as anticipated, estimated or intended.

These forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made. We do not assume any obligation to update forward-looking statements, except as required by applicable securities laws, if circumstances or management’s beliefs, expectations or opinions should change. For the reasons set forth above, persons should not place undue reliance on forward-looking statements.

CURRENCY

Unless otherwise indicated, all dollar amounts in this Form 40-F are in Canadian dollars. The exchange rate of Canadian dollars into United States dollars, on December 31, 2018, based on the noon buying rate in New York City for cable transfers in Canadian dollars as certified for customs purposes by the Federal Reserve Bank of New York, was CDN$1.00 = US$0.7329.

NOTE TO UNITED STATES READERS-DIFFERENCES IN UNITED STATES AND CANADIAN REPORTING PRACTICES

We are permitted under the multi-jurisdictional disclosure system adopted by the United States Securities and Exchange Commission (the “SEC”), to prepare this Form 40-F in accordance with Canadian disclosure requirements, which differ from those of the SEC. We have prepared our financial statements, which are filed as Exhibit 99.2 to this Form 40-F, in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, and they are not comparable with financial statements of U.S. and other companies prepared in accordance with U. S. generally accepted accounting principles.

RESOURCE AND RESERVE ESTIMATES

The AIF, attached hereto as Exhibit 99.1, and the Management Discussion and Analysis, attached hereto as Exhibit 99.3 (the “MD&A”), both incorporated by reference herein, were prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all reserve and resource estimates contained in or incorporated by reference in this Annual Report have been prepared in accordance with Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining Metallurgy and Petroleum Classification System (the “CIM”) “Standards on Mineral Resources and Mineral Reserves”, adopted by the CIM Council, as amended. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements of the United States Securities and Exchange Commission’s

(the “SEC”) Industry Guide 7. Resource information contained herein and incorporated by reference herein may not be comparable to similar information disclosed by U.S. companies.

Without limiting the foregoing, this Annual Report, including the documents incorporated by reference herein, uses the terms “measured”, “indicated” and “inferred” resources. U.S. investors are cautioned that, while such terms are recognized and required by Canadian securities laws, Industry Guide 7 does not recognize them. Under Industry Guide 7, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors are cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves.

U.S. investors should also understand that “inferred” resources have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of the “inferred” resources exist, are economically or legally mineable or will ever be upgraded to a higher category. Therefore, U.S. investors are also cautioned not to assume that all or any part of the “inferred” resources exist, or that they can be mined legally or economically. Disclosure of “contained ounces” in a mineral resource is permitted disclosure under Canadian regulations; however, Industry Guide 7 generally only permits issuers to report “resources” as in place tonnage and grade without reference to unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in the Annual Report, or in the documents incorporated by reference herein, may not be comparable to information made public by U.S. companies subject to the reporting and disclosure requirements of Industry Guide 7.

DISCLOSURE CONTROLS AND PROCEDURES

A. Evaluation of Disclosure Controls and Procedures

At the end of the period covered by this annual report on Form 40-F, an evaluation was carried out under the supervision of, and with the participation of our management, including the Chief Executive Officer (“CEO”) and the Chief Financial Officer (“CFO”), of the effectiveness of the design and operations of our disclosure controls and procedures (as defined in Rule 13a–15(e) and Rule 15d–15(e) under the Exchange Act). Based on that evaluation, the CEO and the CFO have concluded that as of the end of the period covered by this annual report, our disclosure controls and procedures were adequately designed and effective in ensuring that: (i) information required to be disclosed by us in reports that we file or submit to the SEC under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in applicable SEC rules and forms and (ii) material information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to our management, including the CEO and the CFO, as appropriate, to allow for accurate and timely decisions regarding required disclosure.

B. Management’s Annual Report on Internal Control over Financial Reporting

For management’s report on internal control over financial reporting, see “Internal Controls over Financial Reporting Procedures” in our MD&A attached as Exhibit 99.3 to this annual report on Form 40-F and incorporated by reference herein.

Our independent registered public accounting firm Davidson & Company LLP has audited our management’s assessment of our internal control over financial reporting. Davidson & Company LLP’s report is located with our Audited Consolidated Financial Statements, which are incorporated herein by reference to Exhibit 99.2.

C. Changes in Internal Controls over Financial Reporting

During the fiscal year ended December 31, 2018, no changes occurred in our internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

NYSE AMERICAN STATEMENT OF CORPORATE GOVERNANCE DIFFERENCES

We are subject to a variety of corporate governance guidelines and requirements of the Toronto Stock Exchange, the NYSE American (the “NYSE American”), the Canadian Securities Administrators and the SEC. We believe that we meet or exceed the applicable corporate governance requirements. Although we are listed on the NYSE American, we are not required to comply with all of that exchange's corporate governance rules which are applicable to U.S. companies. The significant ways in which the NYSE American governance rules differ for us, as a foreign company, are a reduced quorum requirement for shareholder meetings, shareholder approval for issuance of common shares that could result in a 20% increase in the number of outstanding common shares, and shareholder approval for amendments to option plans. A company seeking relief under or from these provisions must provide written certification from independent local counsel that the non-complying practice is not prohibited by home country law. In addition, the company must provide English language disclosure of any significant ways in which its corporate governance practices differ from those followed by domestic companies pursuant to NYSE American standards. This disclosure may be provided on the company’s website but must be included in the company’s annual report distributed to shareholders in the United States.

We review our governance practices and monitor developments in Canada and the United States on an ongoing basis to ensure we remain in compliance with applicable rules and standards. The Board is committed to sound corporate governance practices which are both in the interest of our shareholders and contribute to effective and efficient decision making.

NOTICES PURSUANT TO REGULATION BTR

There were no notices required by Rule 104 of Regulation BTR that the Company sent during the year ended December 31, 2018 concerning any equity security subject to a blackout period under Rule 101 of Regulation BTR.

AUDIT COMMITTEE AND AUDIT COMMITTEE FINANCIAL EXPERT

A. Audit Committee

We have a separately-designated standing audit committee established in accordance with section 3(a)(58)(A) of the Exchange Act (the “Audit Committee”). The members of our Audit Committee are identified under the heading Item 18 “Audit Committee” in the AIF, which is attached as Exhibit 99.1 to this Annual Report and incorporated by reference herein. In the opinion of the Board, all members of the Audit Committee are “financially literate” and “independent,” as such terms are defined by the NYSE

American’s corporate governance listing standards applicable to us and as determined by Rule 10A-3 under the Exchange Act.

B. Audit Committee Financial Expert

The Board has determined that Zara Boldt, Chair of the Audit Committee, is “independent” and has the necessary qualifications to be designated as an “audit committee financial expert,” within the meaning of applicable SEC rules and NYSE American rules.

The SEC has indicated that the designation or identification of a person as an audit committee financial expert does not make such person an “expert” for any purpose, impose any duties, obligations or liabilities on such person greater than those imposed on members of the Audit Committee and the Board who do not carry this designation or identification, or affect the duties, obligations or liabilities of any other member of the Audit Committee or the Board.

C. Audit Committee Charter

Our Audit Committee Charter is provided in Schedule A to the AIF, which is attached as Exhibit 99.1 to this Annual Report and incorporated by reference herein. The Charter also is available in print to any shareholder that provides us with a written request.

CODE OF ETHICS

We have adopted a Code of Business Ethics (the “Code”) covering our executive officers. The Code is available on our website in our Corporate Policy Manual at http://goldstandardv.com/corporate/governance/ and from our office at the address listed on the cover of this Form 40-F.

All amendments and all waivers of the Code to the officers covered by it will be posted on our website, furnished to the SEC as required, and provided to any shareholder who requests them. During the fiscal year ended December 31, 2018, we did not grant any waiver, including an implicit waiver, from a provision of the Code to any executive officer or director.

PRINCIPAL ACCOUNTING FEES

Davidson & Company LLP acted as our independent registered public accounting firm for the fiscal years ended December 31, 2018 and December 31, 2017. For a description of the total amount Davidson & Company LLP billed to us for services performed in the last two fiscal years by category of service (audit fees, audit-related fees, tax fees and all other fees), see Item 18.9: “External Audit Service Fees (By Category)” in our AIF, which is attached as Exhibit 99.1 to this Form 40-F and incorporated by reference herein.

AUDIT COMMITTEE PRE-APPROVAL POLICIES AND PROCEDURES

For a description of our pre-approval policies and procedures related to the provision of non-audit services, see Item 18.8 “Audit Committee - Pre-Approval Policies and Procedures” in the AIF, which is attached as Exhibit 99.1 to this Form 40-F and incorporated by reference herein.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any material off balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONS

The following table lists as of December 31, 2018 information with respect to our known contractual obligations.

	Payments due by period
		Less than			More than
Contractual Obligations	Total	1 year	1 – 3 years	3 – 5 years	5 years
	CDN$	CDN$	CDN$	CDN$	CDN$
Office Leases	657,466	215,485	332,845	109,136	-
Consulting Agreements 1, 3	3,045,000	609,000	1,218,000	1,218,000	Ongoing
Employment Agreements 2, 4, 5	3,586,460	717,292	1,434,584	1,434,584	Ongoing
Mining Leases and Agreements 5, 6	14,416,866	3,368,210	6,318,974	4,729,682	Ongoing
Total	21,705,792	4,909,987	9,304,403	7,491,402	Ongoing

(1)	These amounts assume that consulting fees will remain constant at current levels and do not include any amount for discretionary annual bonuses.
(2)	These amounts assume that salaries will remain constant at current levels and do not include any amount for discretionary annual bonuses.
(3)	This amount represents the total fees payable under consulting agreements with officers and directors of the Company over the next five years.
(4)	This amount represents the total salaries payable under employment agreements with certain key employees of the Company over the next five years.
(5)	Where applicable, this amount has been converted from U.S. dollars to Canadian dollars using the noon exchange rate of the Bank of Canada on December 31, 2018 of US$1.00 = C$1.3642
(6)	Amounts shown for mining leases and agreements include estimates of option payments, mineral lease payments, work commitments and tax levies that are required to maintain the Company’s interest in the Railroad-Pinion Project and the newly acquired Lewis Gold Project in good standing.

MINE SAFETY DISCLOSURE

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine in the United States are required to disclose in their periodic reports filed with the SEC information regarding specified health and safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities under the regulation of the Federal Mine Safety and Health Review Administration under the Federal Mine Safety and Health Act of 1977. During the fiscal year ended

December 31, 2018, we were not subject to any citations, orders or other legal actions under the Federal Mine Safety and Health Act of 1977.

ADDITIONAL INFORMATION

Additional information relating to our company, including the Audited Financial Statements, the MD&A and the AIF, can be found on SEDAR at www.sedar.com, on the SEC website at www.sec.gov, or on our website at http://goldstandardv.com. Shareholders may also contact the Secretary of the Company by phone at 1-604-669-5702 or by e-mail at info@goldstandardv.com to request copies of these documents and this annual report on Form 40-F.

CONTACTING THE BOARD

Shareholders, employees and other interested parties may communicate directly with the Board by:

•	writing to:	Jonathan T. Awde
		President and CEO
		Suite 610 – 815 West Hastings St.
		Vancouver, BC V6C 1B4
•	calling:	1-604-669-5702
•	emailing:	jonathan@goldstandardv.com

UNDERTAKINGS

We undertake to make available, in person or by telephone, representatives to respond to inquiries made by the SEC staff, and to furnish promptly, when requested to do so by the SEC staff, information relating to the securities registered pursuant to Form 40-F, the securities in relation to which the obligation to file an annual report on Form 40-F arises, or transactions in said securities.

CONSENT TO SERVICE OF PROCESS

We have previously filed with the SEC a written consent to service of process and power of attorney on Form F-X. Any change to the name or address of our agent for service shall be communicated promptly to the SEC by amendment to the Form F-X referencing our file number.

EXHIBIT INDEX

The following documents are being filed with the SEC as exhibits to this Annual Report on Form 40-F.

Exhibit	Description
99.1	Annual Information Form of the Company for the year ended December 31, 2018
99.2	Audited Consolidated Financial Statements for the year ended December 31, 2018 and notes thereto, together with the report of auditors thereon
99.3	Management’s Discussion and Analysis of the Company for the year ended December 31, 2018
99.4	Certifications by the Chief Executive Officer pursuant to Rule 13a-14(a) of the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
99.5	Certifications by the Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
99.6	Certifications by the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
99.7	Certifications by the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
99.8	Consent of Davidson & Company LLP
99.9	Consent of Michael B. Dufresne, M.Sc., P.Geol., P.Geo.
99.10	Consent of Steven J. Nicholls, BA.Sc., MAIG
101.1	The following financial information from the Company’s audited annual consolidated financial statements for the year ended December 31, 2018, formatted in XBRL (Extensible Business Reporting Language) and furnished electronically herewith: (1) Consolidated Statements of Financial Position; (2) Consolidated Statements of Loss and Comprehensive Loss; (3) Consolidated Statements of Cash Flows; (4) Consolidated Statements of Changes in Shareholders’ Equity; and (5) Notes to Financial Statements.

SIGNATURES

Pursuant to the requirements of the Exchange Act, the Company certifies that it meets all of the requirements for filing on Form 40-F and has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	GOLD STANDARD VENTURES CORP.
	/s/ Jonathan T. Awde
	Name: Jonathan T. Awde
	Title: President and Chief Executive Officer
Date: March 28, 2019

EX-99.2

Exhibit 99.2

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2018

EXPRESSED IN CANADIAN DOLLARS

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Directors of
Gold Standard Ventures Corp.

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated statements of financial position of Gold Standard Ventures Corp. (the “Company”), as of December 31, 2018 and 2017, and the related consolidated statements of loss and comprehensive loss, changes in shareholders’ equity, and cash flows for the years ended December 31, 2018, and 2017, and the related notes (collectively referred to as the “financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Gold Standard Ventures Corp. as of December 31, 2018 and 2017, and the results of its operations and its cash flows for the years ended December 31, 2018 and 2017, in conformity with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board.

Report on Internal Control Over Financial Reporting

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), (“PCAOB”) the Company’s internal control over financial reporting as of December 31, 2018, based on the criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated March 26, 2019 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.

Basis for Opinion

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatements of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Company’s auditor since 2010.

	“DAVIDSON & COMPANY LLP”
Vancouver, Canada	Chartered Professional Accountants
March 26, 2019

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Directors of
Gold Standard Ventures Corp.

Opinion on internal control over financial reporting

We have audited Gold Standard Ventures Corp’s (the “Company”) internal control over financial reporting as of December 31, 2018, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (the “COSO criteria”). In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2018, based on the COSO criteria.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company’s consolidated statements of financial position as at December 31, 2018 and 2017, the consolidated statements of loss and comprehensive loss, changes in shareholders’ equity and cash flows for the years ended December 31, 2018 and 2017, and a summary of significant accounting policies and other explanatory information and our report dated March 26, 2019 expressed an unqualified opinion thereon.

Basis for opinion

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting included in Management’s Annual Report on Internal Control Over Financial Reporting of the 2018 Management’s Discussion and Analysis. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the U.S. Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and limitations of internal control over financial reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

	“DAVIDSON & COMPANY LLP”
Vancouver, Canada	Chartered Professional Accountants
March 26, 2019

3

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

December 31, 2018

(Expressed in Canadian Dollars)

	Page
Independent Auditors’ Report	1
Contents	4
Consolidated Statements of Financial Position	5
Consolidated Statements of Loss and Comprehensive Loss	6
Consolidated Statements of Cash Flows	7
Consolidated Statements of Changes in Shareholders’ Equity	8
Notes to Consolidated Financial Statements	9

4

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Consolidated Statements of Financial Position

(Expressed in Canadian Dollars)

	December 31,		December 31,
	2018		2017
	$		$
Assets
Current
Cash (Note 3)	18,333,732		18,458,791
Receivables	34,692		66,544
Prepaid expenses (Note 4)	489,902		319,603
Investments (Note 5)	-		309,035
	18,858,326		19,153,973
Exploration and evaluation assets (Note 7)	196,666,709		154,435,875
Reclamation bonds (Note 8)	2,154,027		1,248,817
Property and equipment (Note 9)	455,422		408,363
	218,134,484		175,247,028
Liabilities
Current
Accounts payable and accrued liabilities (Notes 10 and 14)	1,950,222		1,642,099
Provision for site reclamation (Note 11)	1,004,499		-
	2,954,721		1,642,099
Shareholders' equity
Share capital (Note 12)	270,513,901		220,941,105
Reserves (Note 12)	8,522,564		6,505,922
Deficit	(63,856,702	)	(53,842,098	)
	215,179,763		173,604,929
	218,134,484		175,247,028

Nature and Continuance of Operations (Note 1), Commitments (Note 17), Subsequent Events (Note 20)

These consolidated financial statements were authorized for issuance by the Board of Directors on March 26, 2019.

On Behalf of the Board of Directors:

“Alex Morrison”	“Zara Boldt”
Alex Morrison, Director	Zara Boldt, Director

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

5

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Consolidated Statements of Loss and Comprehensive Loss

(Expressed in Canadian Dollars)

	For the year ended December 31,
	2018		2017
	$		$
Expenses
Accretion expense (Note 11)	2,138		-
Community relations	104,887		94,149
Consulting fees	991,491		555,765
Depreciation (Note 9)	178,181		45,018
Foreign exchange loss (gain)	(720,850	)	741,336
Insurance	415,408		397,822
Investor relations	180,378		417,089
Management fees (Note 14)	1,360,539		1,750,691
Office	559,599		487,066
Professional fees (Note 14)	1,371,574		997,809
Property investigation	73,194		144,136
Regulatory and shareholders service	418,343		646,330
Rent	281,480		289,048
Share-based compensation (Notes 12 and 14)	3,882,026		3,136,225
Travel and related	856,107		838,453
Wages and salaries (Note 14)	593,241		390,694
	(10,547,736	)	(10,931,631	)
Equity loss in associated company (Note 6)	-		(807,455	)
Gain (loss) on investments (Note 5)	(88,332	)	8,457
Interest income	397,158		303,843
Loss and comprehensive loss for the year	(10,238,910	)	(11,426,786	)
Basic and diluted loss per share	(0.04	)	(0.05	)
Weighted average number of common shares outstanding (basic and diluted)	253,212,703		228,376,609

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

6

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Consolidated Statements of Cash Flows

(Expressed in Canadian Dollars)

	For the year ended December 31,
	2018		2017
	$		$
Cash flows used in operating activities
Loss for the year	(10,238,910	)	(11,426,786	)
Items not affecting cash:
Depreciation	178,181		45,018
Share-based compensation	3,882,026		3,136,225
Accretion expense	2,138		-
Loss (gain) on investments	88,332		(8,457	)
Unrealized foreign exchange	(89,983	)	74,811
Equity loss in associated company	-		807,455
Changes in non-cash working capital items
Decrease in receivables	31,852		214,447
(Increase) decrease in prepaid expenses	(170,299	)	24,885
Decrease in accounts payable and accrued liabilities	(420,622	)	(1,024,870	)
	(6,737,285	)	(8,157,272	)
Cash flows used in investing activities
Reclamation bonds	(758,876	)	(312,760	)
Investments	-		(300,000	)
Proceeds from sale of investments	220,703		-
Acquisition of property and equipment	(225,240	)	(433,367	)
Cash acquired on acquisition	-		1,355,706
Exploration and evaluation assets expenditures	(40,556,079	)	(29,028,960	)
	(41,319,492	)	(28,719,381	)
Cash flows from financing activities
Proceeds from share issuances	48,907,549		-
Share issuance costs	(3,089,463	)	(772,910	)
Proceeds from exercise of warrants	-		251,505
Proceeds from exercise of stock options	2,113,632		2,245,788
	47,931,718		1,724,383
Net change in cash	(125,059	)	(35,152,270	)
Cash, beginning of year	18,458,791		53,611,061
Cash, end of year	18,333,732		18,458,791
Supplementary Cash Flow Information (Note 18)

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

7

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Consolidated Statements of Changes in Shareholders’ Equity

(Expressed in Canadian Dollars)

								Total
	Number of							Shareholders'
	Shares Issued	Share Capital		Reserves		Deficit		Equity
		$		$		$		$
Balance at December 31, 2016	221,516,735	191,358,298		5,310,291		(42,826,554	)	153,842,035
Stock options exercised	2,448,916	4,028,057		(1,782,269	)	-		2,245,788
Shares issued pursuant to the arrangement	9,352,320	24,970,694		-		-		24,970,694
Warrants exercised	218,700	584,056		(332,551	)	-		251,505
Issuance of replacement stock options and warrants	-	-		576,506		-		576,506
Adjustment in investment in associated company	-	-		(218,874	)	227,836		8,962
Stock options expired	-	-		(183,406	)	183,406		-
Share-based compensation	-	-		3,136,225		-		3,136,225
Loss for the year	-	-		-		(11,426,786	)	(11,426,786	)
Balance at December 31, 2017	233,536,671	220,941,105		6,505,922		(53,842,098	)	173,604,929
Shares issued for cash	23,857,341	48,907,549		-		-		48,907,549
Share issuance costs	-	(3,089,463	)	-		-		(3,089,463	)
Stock options exercised	2,415,666	3,754,710		(1,641,078	)	-		2,113,632
Stock options expired	-	-		(214,387	)	214,387		-
Stock options cancelled	-	-		(9,919	)	9,919		-
Share-based compensation	-	-		3,882,026		-		3,882,026
Loss for the year	-	-		-		(10,238,910	)	(10,238,910	)
Balance at December 31, 2018	259,809,678	270,513,901		8,522,564		(63,856,702	)	215,179,763

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

8

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 1 - Nature and Continuance of Operations

Gold Standard Ventures Corp. (the “Company”) was incorporated on February 6, 2004 under the Business Corporations Act (British Columbia) and is listed for trading on the Toronto Stock Exchange (“TSX”) under the symbol “GSV” and on the NYSE American LLC under the symbol “GSV”.

The Company’s head office, principal address and registered and records office is located at Suite 610 – 815 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1B4.

The Company’s exploration and evaluation assets are at the exploration stage and are without a known body of commercial ore. The business of exploring for minerals involves a high degree of risk. Few properties that are explored are ultimately developed into producing mines. Major expenditures may be required to establish ore reserves, to develop metallurgical processes, to acquire construction and operating permits and to construct mining and processing facilities. The amounts shown as exploration and evaluation assets cost represent acquisition, holding and deferred exploration costs and do not necessarily represent present or future recoverable values. The recoverability of the amounts shown for exploration and evaluation assets cost is dependent upon the Company obtaining the necessary financing to complete the exploration and development of the properties, the discovery of economically recoverable reserves and future profitable operations or through sale of the assets.

These consolidated financial statements have been prepared on the assumption that the Company and its subsidiaries will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. As at December 31, 2018, the Company had not advanced its properties to commercial production and is not able to finance day to day activities through operations. The Company’s continuation as a going concern is dependent upon the successful results from its exploration activities and its ability to attain profitable operations and generate funds therefrom and/or raise equity capital or borrowings sufficient to meet current and future obligations. The Company estimates it has sufficient working capital to continue operations for the upcoming year.

NOTE 2 - Significant Accounting Policies and Basis of Preparation

The following is a summary of significant accounting policies used in the preparation of these consolidated financial statements.

Statement of compliance
These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and Interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”).

Basis of presentation
These consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, except for investments which are measured at fair value. The consolidated financial statements are presented in Canadian dollars unless otherwise noted.

Basis of consolidation
These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JKR Gold Resources ULC, JKR Gold Resources (USA) Inc., JMD Exploration Corp., Gold Standard Ventures (US) Inc., Tacoma Exploration LLC, Battle Mountain Gold Inc., Battle Mountain Gold (USA) Inc., and Madison Enterprises (Nevada) Inc., from their dates of formation or acquisition. The Company’s Canadian subsidiaries are holding companies while its US subsidiaries are operating companies. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation. During the year ended December 31, 2017, the Company wound up JKR Gold Resources (USA) Inc. and JMD Exploration Corp. In addition, the Company merged Battle Mountain Gold (USA) Inc. and Madison Enterprises (Nevada) Inc., with the merged entity being named Madison Enterprises (Nevada) Inc.

9

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 2 - Significant Accounting Policies and Basis of Preparation (continued)

Foreign currency translation
The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company and each of its subsidiaries is the Canadian dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS 21 – The Effects of Changes in Foreign Exchange Rates.

Transactions in currencies other than Canadian dollars are recorded at exchange rates prevailing on the dates of the transactions. At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated at the period end exchange rate while non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Exchange gains and losses arising on translation are included in profit or loss.

Use of estimates
The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the period.

Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates.

The most significant accounts that require estimates and judgements as the basis for determining the stated amounts include the recoverability of exploration and evaluation assets, determination of functional currency, valuation of the acquisition of an associated company, valuation of share-based compensation, recognition of deferred tax amounts and reclamation provisions.

Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are as follows:

Economic recoverability and probability of future economic benefits of exploration and evaluation assets

Management has determined that exploration, evaluation, and related costs incurred which were capitalized may have future economic benefits and may be economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including, geologic and other technical information, a history of conversion of mineral deposits with similar characteristics to its own properties to proven and probable mineral reserves, the quality and capacity of existing infrastructure facilities, evaluation of permitting and environmental issues and local support for the project.

Determination of functional currency

The Company determines the functional currency through an analysis of several indicators such as expenses and cash flow, financing activities, retention of operating cash flows, and frequency of transactions within the reporting entity.

Valuation of the acquisition of an associated company

The Company acquired a publicly-traded associated company in June 2017. The process for determining whether the acquisition was an asset purchase versus a business acquisition was performed and primary consideration was given to the exploration stage of mineral properties, among other items. Shares issued for the acquisition were valued on the issue date and the excess of overall acquisition costs over net assets acquired was attributed to the mineral properties acquired.

Prior to June 2017, the Company held an investment in the associated company. To value the investment, management obtained financial information from the majority owner and adjusted the carrying value of the investment. The investment was subject to all estimates included in the financial information from the majority owner as well as estimates of impairment losses.

10

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 2 - Significant Accounting Policies and Basis of Preparation (continued)

Use of estimates (continued)
Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustments are as follows:

Valuation of share-based compensation

The Company uses the Black-Scholes option pricing model for valuation of share-based compensation. Option pricing models require the input of subjective assumptions including expected price volatility, risk-free interest rate, and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves.

Income taxes

In assessing the probability of realizing income tax assets, management makes estimates related to expectation of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.

Reclamation provisions

The Company’s reclamation provision represents management’s best estimate of the present value of the future cash outflows required to settle the obligation. Management assesses these provisions on an annual basis or when new information becomes available. This assessment includes the estimation of the future reclamation costs, the timing of these expenditures, inflation, and the impact of changes in discount rates, interest rates and foreign exchange rates. The actual future expenditures may differ from the amounts currently provided if the estimates made are significantly different than actual results or if there are significant changes in environmental and/or regulatory requirements in the future.

Financial instruments
The Company adopted all of the requirements of IFRS 9 – Financial Instruments (“IFRS 9”) as of January 1, 2018. IFRS 9 replaces IAS 39 – Financial Instruments: Recognition and Measurement (“IAS 39”). IFRS 9 utilizes a revised model for recognition and measurement of financial instruments and a single, forward-looking “expected loss” impairment model. Most of the requirements in IAS 39 for classification and measurement of financial liabilities were carried forward in IFRS 9, so the Company’s accounting policy with respect to financial liabilities is unchanged. As a result of the adoption of IFRS 9, management has changed its accounting policy for financial assets retrospectively, for assets that continued to be recognized at the date of initial application. The change did not impact the carrying value of any financial assets or financial liabilities on the transition date.

The following is the Company’s new accounting policy for financial instruments under IFRS 9:

Financial assets

On initial recognition, financial assets are recognized at fair value and are subsequently classified and measured at: (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) fair value through profit or loss (“FVTPL”). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at fair value net of transaction costs that are directly attributable to its acquisition except for financial assets at FVTPL where transaction costs are expensed. All financial assets not classified and measured at amortized cost or FVOCI are classified as FVTPL. On initial recognition of an equity instrument that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income/loss.

The classification determines the method by which the financial assets are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Receivables and reclamation bonds are measured at amortized cost with subsequent impairments recognized in profit or loss. Cash and investments are classified as FVTPL.

11

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 2 - Significant Accounting Policies and Basis of Preparation (continued)

Financial instruments (continued)
Impairment

An ‘expected credit loss’ impairment model applies which requires a loss allowance to be recognized based on expected credit losses. The estimated present value of future cash flows associated with the asset is determined and an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the carrying amount of the asset is reduced to estimated present value of the future cash flows associated with the asset, discounted at the financial asset’s original effective interest rate, either directly or through the use of an allowance account and the resulting loss is recognized in profit or loss for the period.

In a subsequent period, if the amount of the impairment loss related to financial assets measured at amortized cost decreases, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized.

Financial liabilities

Financial liabilities are designated as either: (i) fair value through profit or loss; or (ii) amortized cost. All financial liabilities are classified and subsequently measured at amortized cost except for financial liabilities at FVTPL. The classification determines the method by which the financial liabilities are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Accounts payable and accrued liabilities are classified as other financial liabilities and carried on the statement of financial position at amortized cost.

As at December 31, 2018, the Company does not have any derivative financial liabilities.

Exploration and evaluation assets
Costs incurred on mineral resource properties before the Company has acquired the right to explore those properties are expensed as incurred.

Costs directly related to the acquisition and exploration of exploration and evaluation assets are capitalized once the legal rights to explore the exploration and evaluation assets are acquired or obtained. When the technical and commercial viability of a mineral resource has been demonstrated and a development decision has been made, the capitalized costs of the related property are first tested for impairment, then transferred to mining assets and depreciated using the units of production method on commencement of commercial production.

If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined an impairment in value, the property is written down to its recoverable amount. Exploration and evaluation assets are reviewed for impairment when facts and circumstances suggest that the carrying amount may exceed its recoverable amount.

Restoration and environmental obligations
The Company recognizes liabilities for statutory, contractual, constructive or legal obligations associated with the retirement of long-term assets, when those obligations result from the acquisition, construction, development or normal operation of the assets. The net present value of future restoration cost estimates arising from the decommissioning of plant and other site preparation work is capitalized to exploration and evaluation assets along with a corresponding increase in the restoration provision in the period incurred. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. The restoration asset will be depreciated on the same basis as the related assets.

12

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 2 - Significant Accounting Policies and Basis of Preparation (continued)

Restoration and environmental obligations (continued)
The Company’s estimates of restoration costs could change as a result of changes in regulatory requirements, discount rates and assumptions regarding the amount and timing of the future expenditures. These changes are recorded directly to the related asset with a corresponding entry to the restoration provision. The Company’s estimates are reviewed annually for changes in regulatory requirements, discount rates, effects of inflation and changes in estimates.

Changes in the net present value, excluding changes in amount and timing of the Company’s estimates of reclamation costs, are charged to profit or loss for the period.

The net present value of restoration costs arising from subsequent site damage that is incurred on an ongoing basis during production are charged to profit or loss in the period incurred.

Share-based compensation
The Company operates an employee stock option plan and a restricted share unit award plan. Share-based compensation to employees is measured at the fair value of the instruments issued and amortized over the vesting periods. Share-based compensation to non-employees is measured at the fair value of goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. The corresponding amount is recorded to reserves. The fair value of options is determined using the Black–Scholes pricing model which incorporates all market vesting conditions and the fair value of restricted share units is determined using the fair value on grant date. The number of shares and options expected to vest is reviewed and adjusted at the end of each reporting period such that the amount recognized for services received as consideration for the equity instruments granted shall be based on the number of equity instruments that eventually vest. When vested options are forfeited or are not exercised at the expiry date, the amount previously recognized in share-based compensation is transferred to deficit.

Property and equipment
Property and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any replaced parts is derecognized. All other repairs and maintenance are charged to profit or loss during the fiscal period in which they are incurred.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognized in profit or loss.

Depreciation is calculated using a straight-line method to write off the cost of the assets. The depreciation rates applicable to each category of property and equipment are as follows:

Asset	Basis	Period and Rate
Computers	Declining-balance	55%
Leasehold Improvements	Straight-line	Remaining lease term

13

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 2 - Significant Accounting Policies and Basis of Preparation – (continued)

Income taxes
Current income tax:
Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the country where the Company operates and generates taxable income.

Current income tax relating to items recognized directly in other comprehensive income (loss) or equity is recognized in other comprehensive income (loss) or equity and not in profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred income tax:
Deferred income tax is provided for, based on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.

Impairment of non-financial assets
The carrying amount of the Company’s assets (which includes property and equipment and exploration and evaluation assets) is reviewed at each reporting date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. An impairment loss is recognized whenever the carrying amount of an asset or its cash generating unit exceeds its recoverable amount. Impairment losses are recognized in profit or loss. Assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment.

The recoverable amount of an asset is the greater of an asset’s fair value less cost to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects the current market assessments of the time value of money and the risks specific to the asset. For an asset that does not generate cash inflows largely independent of those from other assets, the recoverable amount is determined for the cash-generating unit to which the asset belongs.

An impairment loss is only reversed if there is an indication that the impairment loss may no longer exist and there has been a change in the estimates used to determine the recoverable amount, however, not to an amount higher than the carrying amount that would have been determined had no impairment loss been recognized in previous years.

Loss per share
Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common shareholders by the weighted average number of shares outstanding during the reporting period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the reporting periods. Potentially dilutive options and warrants excluded from diluted loss per share totalled 9,317,296 (2017 – 9,251,640).

14

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 2 - Significant Accounting Policies and Basis of Preparation – (continued)

Standards issued or amended but not yet effective
A number of new standards, amendments to standards and interpretations applicable to the Company are not yet effective for the year ended December 31, 2018 and have not been applied in preparing these consolidated financial statements. These standards are as follows:

• IFRS 16 – Leases: On January 13, 2016, the IASB issued the final version of IFRS 16 Leases. The new standard will replace IAS 17 Leases and is effective for annual periods beginning on or after January 1, 2019. IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee. Instead, all leases are treated in a similar way to finance leases applying IAS 17. IFRS 16 does not require a lessee to recognize assets and liabilities for short- term leases (i.e. leases of 12 months or less) and leases of low-value assets.

  The Company applied IFRS 16 effective January 1, 2019 using the modified retrospective method. Under this method, financial information will not be restated and will continue to be reported under the accounting standards in effect for those periods. The Company will recognize lease obligations related to its lease commitments for its office leases. It will be measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate as at January 1, 2019. The associated right of use asset will be measured at the lease obligation amount, less prepaid lease payments, resulting in no adjustment to the opening balance of deficit. The Company has implemented the following accounting policies permitted under the new standard:

• leases of low dollar value will continue to be expensed as incurred; and

• the Company will not apply any grandfathering practical expedients.

  As at January 1, 2019 the Company recognized approximately $517,000 in right-of-use assets and $517,000 of incremental lease obligations.

• IFRIC 23 – Uncertainty Over Income Tax Treatments: clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. It is effective for annual periods beginning on or after January 1, 2019 with early adoption permitted. The Company does not expect that the adoption of this standard will have a material effect on the Company’s consolidated financial statements.

NOTE 3 – Cash

	December 31, 2018	December 31, 2017
	$	$
Cash at financial institutions	18,224,563	18,312,333
Cash held in lawyers’ trust account	109,169	146,458
	18,333,732	18,458,791

NOTE 4 – Prepaid Expenses

	December 31, 2018	December 31, 2017
	$	$
Prepaid expenses	468,600	297,003
Deposits	21,302	22,600
	489,902	319,603

15

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 5 –Investments

In February 2017, the Company acquired 600,000 shares of Contact Gold Corp. for a total of $300,000, which had been classified as FVTPL and measured at fair value. As at December 31, 2017, the fair value of the investment was $306,000. During the year ended December 31, 2018, the Company sold these shares for proceeds of $217,071 and recorded a loss of $88,929.

In connection with the acquisition of Battle Mountain Gold Inc. (“BMG”), the Company acquired certain marketable securities, which have been classified as FVTPL and measured at fair value. As at December 31, 2017, the fair value of the investment was $3,035. During the year ended December 31, 2018, the Company sold these securities for proceeds of $3,632 and recorded a gain of $597.

NOTE 6 – Acquisition

On May 6, 2016, the Company acquired 10,481,435 units of BMG at a price of $0.35 per unit for a total subscription price of $3,668,502. Each unit consisted of one common share of BMG and one-half of one common share purchase warrant. The share purchase warrants entitled the Company to purchase up to an additional 5,240,717 common shares of BMG for a period of two years at a price of $0.37 per share. BMG was a public company trading on the TSX-V and its principal business activity was the exploration of mineral properties. The corporate office was located in Vancouver, British Columbia, Canada.

In June 2016 and as amended in August 2016, the Company entered into an agreement with BMG and the royalty owner (the “Royalty Owner”) of BMG’s Lewis Gold Project to reduce the royalty rate on gold and silver production of the Lewis Gold Project from 5% to 3.5% (the “BMG Royalty Agreement”). In exchange, the Company agreed to pay US$1.85 million in a combination of cash and shares on behalf of BMG to the Royalty Owner. In August 2016, the Company paid $1,197,598 (US$925,000) in cash and issued 532,864 common shares at a value of $1,678,522 (collectively “the Advance”) to the Royalty Owner. In August 2016, the Company exercised 5,240,717 warrants for 5,240,717 common shares of BMG for a total of $1,939,065 using a portion of the Advance. In addition, BMG issued 885,468 common shares valued at $752,649 to settle the remaining balance of the Advance. As a result, the Company recorded a loss on settlement of advance of $184,406. As at December 31, 2016, the Company owned 16,607,620 common shares of BMG, or 27.58% of the total number of outstanding shares of BMG, which resulted in a market value of $5,314,438.

The following is a reconciliation of the Company’s investment in BMG prior to acquisition:

	$
Balance as at December 31, 2015	-
Initial investment	3,668,502
Additional investment	2,691,714
Dilution loss in BMG	(67,602	)
Equity loss in BMG	(336,467	)
Impact of share-based payment in BMG	218,874
Balance as at December 31, 2016	6,175,021
Dilution loss in BMG	(238,057	)
Equity loss in BMG	(569,398	)
Impact of share-based payment in BMG	8,962
Value of investment prior to acquisition	5,376,528

In April 2017, the Company entered into a definitive agreement pursuant to which the Company agreed to acquire all of the issued and outstanding common shares of BMG (other than those already owned by the Company) for consideration of 0.1891 of a common share of the Company plus $0.08 in cash for each BMG common share acquired, by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement“).

16

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 6 – Acquisition – (continued)

In June 2017, the Company acquired all of the issued and outstanding common shares of BMG, other than those already owned by the Company. As consideration, the Company issued 9,352,320 common shares at a value of $24,970,694 (Note 12) and made cash payments of $3,956,656 to the shareholders of BMG. As part of the arrangement, all unexercised BMG stock options and warrants were exchanged for the Company’s replacement stock options and warrants at the fixed exchange ratio at a value of $576,506 (Note 12). In addition, the Company incurred $561,959 in transaction costs relating to the acquisition and these costs were capitalized as part of the acquisition of the exploration and evaluation assets.

The acquisition of BMG has been treated as an acquisition of exploration and evaluation assets.

The assets and liabilities of BMG assumed on acquisition were as follows:

	$
Cash	1,355,706
Receivables	51,246
Held for trading investments	578
Prepaid expenses	41,758
Exploration and evaluation assets	10,189,010
Reclamation bonds	33,150
Accounts payable and accrued liabilities	(235,486	)
Loan payable	(1,550,000	)
Net assets	9,885,962

The total consideration for the acquisition was as follows:

	$
Value of investment prior to acquisition	5,376,528
Cash paid	3,956,656
Value of shares issued	24,970,694
Transaction costs	561,959
Value of replacement stock options and warrants	576,506
	35,442,343
Less: net assets	(9,885,962	)
Excess consideration paid over the net assets of BMG	25,556,381

The excess of the consideration over the net assets of BMG has been added to the exploration and evaluation assets to reflect the fair value of the Lewis Gold Project (Note 7).

17

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 7 – Exploration and Evaluation Assets

Expenditures for the years related to exploration and evaluation assets located in Nevada, USA were as follows:

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
	$	$	$
Balance as at December 31, 2016	93,913,136	-	93,913,136
Property acquisition and staking costs	253,744	35,745,391	35,999,135
Exploration expenses
Claim maintenance fees	369,925	79,138	449,063
Consulting	2,361,902	234,684	2,596,586
Data analysis	498,200	22,482	520,682
Drilling	11,834,010	1,299,403	13,133,413
Environmental and permitting	275,885	4,648	280,533
Equipment rental	78,392	1,849	80,241
Geological	997,238	15,275	1,012,513
Lease payments	1,487,916	109,563	1,597,479
Metallurgy	909,757	-	909,757
Sampling and processing	1,141,491	28,386	1,169,877
Site development and reclamation	1,293,953	149,086	1,443,039
Supplies	1,278,358	2,722	1,281,080
Vehicle	49,341	-	49,341
	22,830,112	37,692,627	60,522,739
Balance as at December 31, 2017	116,743,248	37,692,627	154,435,875

18

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 7 - Exploration and Evaluation Assets (continued)

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
	$	$	$
Balance as at December 31, 2017	116,743,248	37,692,627	154,435,875
Property acquisition and staking costs	4,989	-	4,989
NSR buy-down	4,427,850	-	4,427,850
Exploration expenses
Claim maintenance fees	359,532	81,528	441,060
Consulting	3,692,499	81,721	3,774,220
Data Analysis	58,172	22,282	80,454
Drilling	18,472,855	174,781	18,647,636
Engineering	134,827	-	134,827
Environmental and permitting	387,679	-	387,679
Equipment rental	127,471	491	127,962
Geological	788,032	25,554	813,586
Geotechnical	654,687	-	654,687
Hydrology	930,729	-	930,729
Lease payments	1,805,255	118,784	1,924,039
Metallurgy	551,864	-	551,864
Preliminary economic assessment	579,226	-	579,226
Provision for site reclamation	946,010	-	946,010
Sampling and processing	561,710	81,770	643,480
Site development and reclamation	5,722,669	98,297	5,820,966
Supplies	1,224,990	1,002	1,225,992
Vehicle	113,578	-	113,578
	41,544,624	686,210	42,230,834
Balance as at December 31, 2018	158,287,872	38,378,837	196,666,709

Railroad-Pinion Project

The Railroad-Pinion project is located in Elko County, Nevada, USA.

In August 2009, the Company entered into an agreement to acquire a 100% interest in certain claims comprising the Railroad Property in Nevada from Royal Standard Minerals, Inc (“RSM”) and its subsidiaries. The Railroad property is subject to three underlying agreements as follows:

a.	Aladdin Sweepstakes Lease/Purchase Agreement whereby the Company acquired certain interests for US$2,965,000 subject to a 1% net smelter royalty (“NSR”).
b.	Tomera Mining Lease consists of five separate leases, three of which are subject to a 5% NSR. The Company is required to pay annual lease payments of US$87,137 for 2016 and US$96,887 thereafter.
c.	Sylvania Mining Lease Agreement which is subject to annual lease payments of US$20,000 expiring in December 2021 subject to a 5 % NSR.

RSM will retain a 1% NSR on the entire property and certain claims are subject to a 1.5% Mineral Production Royalty payable to Kennecott Holdings Corporation.

19

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 7 - Exploration and Evaluation Assets – (continued)

Railroad-Pinion Project (continued)

In April 2011 (and amended June 2016), the Company entered into a minerals lease and agreement with Newmont USA Limited (“Newmont”) to lease four sections and acquire a 100% right to prospect and explore for minerals on and beneath the leased lands. Two of the four sections are staked public lands, which carry no underlying royalty. The other two sections are private surface and minerals lands subject to a total annual lease payment of US$39,680 and an underlying 5% NSR. Under the terms of the agreement, the Company is required to incur US$500,000 in each of 2017 (incurred) and 2018 (incurred).

Beginning in 2019, the Company will be subject to an annual work commitment of US$300,000, or the Company will be required to pay an annual rental payment of US$33,600 to Newmont.

Newmont has a first back-in right on or before delivery of a positive feasibility study, enabling Newmont to earn a 51% interest in the lease by incurring expenditures totaling 150% of the expenditures made by the Company. If Newmont elects not to exercise the back-in right, Newmont will deed the claims and assign the leases on the leased lands to the Company in exchange for the Company’s executing a royalty deed conveying a 3% NSR on the claims and a 1% NSR on the leased lands to Newmont. If Newmont exercises its first back-in right, it has a second back-in right to earn an additional 19% interest in the lease by expending an additional 100% of the expenditures made by the Company. The project would then revert to a joint venture between Newmont (70%) and the Company (30%).

Between October 2011 and May 2012, the Company entered into various mining lease agreements to acquire a 100% interest in certain claims, collectively known as the Pinion project (“Pinion”), with a lease term of ten years with an option to extend the lease term for an additional ten years.

Each lease is subject to a 5% NSR. The lease payment will be cumulatively credited to the Company’s account and will be applied against the Company’s obligation to pay the NSR payment up to 80% of the total lease payment.

In October 2012, the Company entered into a lease for a 100% right in certain patented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$15,000 increasing to US$50,000 in years six to nine. The Company has the option to purchase the property for US$1,500,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$75,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments paid will be credited against future NSR payments.

In October 2012, the Company entered into a surface use agreement with a primary term of 10 years, with provisions for extension after that. The surface use agreement is subject to an annual lease payment of US$20,103. The Company has the option to purchase the property for US$8,934,640 and must purchase the property prior to commencing production.

In November 2012, the Company entered into a mining lease agreement to lease a 100% interest in certain mineral rights for a period of 12 years. The Company paid an initial amount of US$1,000,000 upon execution of the agreement and must make annual lease payments of US$175,000. The annual lease payments increase by 5% each year. The Company is required to spend US$1,000,000 per year (incurred to date) on exploration for the remainder of the lease term, with the option of making a cash payment to the vendor of any shortfall. The lease agreement is subject to a 5% NSR with a buy-down option of 3% for US$3,500,000 in year one through six or for US$7,000,000 in year seven through twelve. The Company, prior to commencing production on the property and after having exercised its buy-down option of the NSR, has an option to purchase the property for an amount of US$25,000,000. If the Company exercises the purchase option, 70% of the initial amount will be credited towards the purchase price and 70% of all annual lease payments will be credited against future NSR payments. The Company has the option to extend the lease for an additional 10 years by paying US$1,000,000 and making annual lease payments of US$500,000 per year, increasing annually in the amount of 5% of the previous year’s annual lease payment. After the third anniversary, the Company can terminate this agreement by making a cash payment equal to the lease payments for the following two years of the lease term.

20

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 7 - Exploration and Evaluation Assets – (continued)

Railroad-Pinion Project (continued)

In December 2012, the Company entered into a mining lease and option to purchase agreement to lease a 100% right in certain patented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$20,000 increasing to US$35,000 in years six to nine. The Company has the option to purchase the property for US$1,000,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR with a buy-down option of 2% for US$2,000,000 and a further 1% for US$1,500,000. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$50,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In July 2013, the Company entered into a lease for a 100% right in certain patented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$25,000 increasing to US$43,750 in years six to nine. The Company has the option to purchase the property for US$1,250,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR with a buy-down option of 2% for US$2,000,000 and a further 1% for US$1,000,000. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$62,500 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In March 2014, the Company entered into an agreement to acquire a certain portion of the Pinion Gold Deposit (“Pinion Gold Deposit”), which is contiguous to the Company’s Railroad Gold Project. Under the terms of the agreement, the Company made cash payments of $8,500,000 and issued 6,750,000 common shares of the Company valued at $4,807,500. The Company is subject to additional cash consideration between $1,500,000 and $3,000,000 if the Company enters into a transaction whereby it sells a majority of the Company for consideration exceeding $100,000,000. The Pinion Gold Deposit is subject to five underlying lease agreements which require total annual lease payments of US$47,931 increasing to US$49,090 in 2017 as well as a maximum of a 5% NSR pursuant to various underlying lease agreements and royalty agreements.

In September 2014, the Company entered into a mining lease with option to purchase agreement to lease a 100% right in certain unpatented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$30,000 increasing to US$90,000 in years six to nine. The Company has the option to purchase the property for US$1,500,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR with a buy-down option of 1% for US$1,000,000 before the fifth anniversary and a further 1% for US$1,500,000 before the tenth anniversary. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$100,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In January 2015, the Company entered into a mining lease with option to purchase agreement to lease a 100% right in certain unpatented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$8,000 increasing to US$20,000 in years six to nine. The Company has the option to purchase the property for US$150,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 3% NSR with a buy-down option of 1% for US$150,000 before the fifth anniversary and a further 1% for US$250,000 before the tenth anniversary. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$25,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In 2016, the Company entered into certain mining lease and option to purchase agreements to lease a 100% right in certain patented mining claims for a primary period of 10 years. The Company paid US$279,000 upon execution of these agreements and is required to make combined annual lease payments of approximately US$16,500 on the first anniversary; the annual lease payments increase to approximately US$31,000 in years six to nine. The Company has the option to purchase certain properties for US$800,000 and must purchase certain properties prior to commencing production. Certain lease agreements are subject to a 3% NSR with buy-down options of 1% for US$1,100,000. The Company has the option to extend the leases for an additional 10 years with annual lease payments approximately US$31,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

21

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 7 - Exploration and Evaluation Assets – (continued)

Railroad-Pinion Project (continued)

In March 2017, the Company entered into a mining lease agreement to lease a 100% interest in certain mineral rights for a period of 10 years. The Company paid an initial amount of US$75,000 upon execution of the agreement and an annual lease payment of US$75,000. The lease agreement is subject to a 3.5% NSR. The Company has the option to extend the lease for an additional 10 years by paying US$75,000 and making annual lease payments of US$75,000 per year. In addition, the Company entered into a surface use agreement with a primary term of 10 years, with provisions for extension thereafter. The surface use agreement is subject to an annual lease payment of US$9,000. The Company has the option to purchase the property for US$2,000,000 and must exercise the option prior to commencing production.

In January 2018, the Company entered into a mining lease agreement to lease a 100% interest in certain mineral rights for a period of 10 years. The Company paid an initial amount of US$10,000 upon execution of the agreement and must make annual payments of US$10,000 increasing to US$30,000 in years six to nine. The lease agreement is subject to a 3% NSR.

In March 2018, the Company exercised its NSR buy-down option on one of its mining lease agreements executed in November 2012 to reduce the NSR royalty from 5% to 2% by making a lump-sum payment of US$3,500,000 to the lessee.

In May 2018, the Company entered into an amendment agreement to one of its mining lease agreements executed in November 2011 to reduce the NSR royalty from 5% to 2% and extend the term of the lease for an additional 8 years beyond the primary 10 year term of the original agreement by making a lump-sum payment of US$300,000 to the lessees.

Payment requirements from 2019 to 2023 under agreements are approximately as follows:

	Total	Total
	Work	Lease
	commitment	payment	Total
	US$	US$	US$
2019	1,300,000	1,077,000	2,377,000
2020	1,300,000	1,016,000	2,316,000
2021	1,300,000	823,000	2,123,000
2022	1,300,000	383,000	1,683,000
2023	1,300,000	383,000	1,683,000
	6,500,000	3,682,000	10,182,000

Lewis Gold Project

As a result of the acquisition of BMG, the Company acquired a 100% right, title and interest in mining claims located in the Battle Mountain Mining District in Lander County, Nevada, USA (the “Lewis Gold Project”).

The Lewis Gold Project is subject to an advance minimum annual royalty in the amount of US$60,000 in cash, which is subject to an annual escalation based upon a defined consumer price index. The advance minimum royalty payments are to be credited against any production royalty payable in the same year. Production royalties include a 3.5% NSR for gold and silver and a 4% NSR for other minerals such as lead, zinc, and copper (the “BMG Royalty”).

22

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 8 - Reclamation Bonds

In relation to its exploration and evaluation assets, the Company has posted reclamation bonds as at December 31, 2018 of $2,154,027 (US$1,581,158) (2017 - $1,248,817 (US$965,471)).

NOTE 9 - Property and Equipment

	Leasehold
	improvements	Computers	Total
	$	$	$
Cost:
At December 31, 2016	210,742	-	210,742
Additions	288,581	29,482	318,063
At December 31, 2017	499,323	29,482	528,805
Additions	184,435	40,805	225,240
At December 31, 2018	683,758	70,287	754,045
Depreciation:
At December 31, 2016	75,424	-	75,424
Charge for the year	40,596	4,422	45,018
At December 31, 2017	116,020	4,422	120,442
Charge for the year	141,956	36,225	178,181
At December 31, 2018	257,976	40,647	298,623
Net book value:
At December 31, 2017	383,303	25,060	408,363
At December 31, 2018	425,782	29,640	455,422

NOTE 10 – Accounts Payable and Accrued Liabilities

	December 31, 2018	December 31, 2017
	$	$
Accounts payable	848,332	636,961
Accrued liabilities	1,101,890	1,005,138
	1,950,222	1,642,099

23

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 11 – Provision for Site Reclamation

During the year ended December 31, 2018, the Company recorded a provision for the estimated cost of site reclamation relating to exploration activities at its Railroad-Pinion Project. The Company used an inflation rate of 2.16% (2017 – nil) and an average discount rate of 3.09% (2017 – nil) in calculating the estimated obligation. The undiscounted uninflated value of the cash flows required to settle the provision is approximately $1,138,149 expected to be incurred over the next 20 years.

	Railroad-Pinion
	$
Balance as at December 31, 2016 and 2017	-
Increase in estimate	946,010
Foreign exchange adjustment	56,351
Accretion expense	2,138
Balance as at December 31, 2018	1,004,499

NOTE 12 - Share Capital and Reserves

Authorized Share Capital

Unlimited number of common shares without par value.

Issued Share Capital

In June 2017, in connection to the acquisition of BMG, the Company issued 9,352,320 common shares at a value of $24,970,694.

In February 2018, the Company completed an underwritten public offering and a concurrent private placement financing and issued 18,626,440 common shares of the Company at a price of $2.05 per share for gross proceeds totalling $38,184,202, and incurred cash commissions and expenses of $2,623,077.

In September 2018, the Company completed a private placement financing and issued 5,230,901 common shares of the Company at a price of $2.05 per share for gross proceeds totalling $10,723,347, and incurred cash commissions and expenses of $466,386.

Share Purchase Warrants

In June 2017, in connection to the acquisition of BMG, the Company issued 218,700 replacement warrants with an exercise price of $1.15, at a fair value of $332,551, calculated using the Black-Scholes option pricing model assuming a life expectancy of one month, a risk-free rate of 0.56%, a forfeiture rate of 0%, and volatility of 52%. In July 2017, the Company issued 218,700 common shares in relation to the exercise of all of the 218,700 replacement warrants for total proceeds of $251,505 and the fair value of $332,551 attributable to these warrants was transferred from reserves to share capital.

There were no share purchase warrants outstanding as at December 31, 2018 and 2017.

24

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 12 - Share Capital and Reserves (continued)

Stock Options

The Company has a Stock Option Plan whereby the maximum number of common shares reserved for issue under the plan shall not exceed 10% of the outstanding common shares of the Company, as at the date of the grant. The exercise price of each option granted under the plan may not be less than the Discounted Market Price (as that term is defined in the policies of the TSX). Options may be granted for a maximum term of five years from the date of the grant, are non-transferable and expire within 90 days of termination of employment, consulting arrangement or holding office as a director or officer of the Company, are subject to vesting provisions as determined by the Board of Directors (the “Board”) and, in the case of death, expire within one year thereafter. Upon death, the options may be exercised by legal representation or designated beneficiaries of the holder of the option.

In June 2017, in connection to the acquisition of BMG, the Company issued 153,089 replacement options with a weighted average exercise price of $1.67 per share, at a fair value of $243,955.

During the year ended December 31, 2017, the Company issued 2,448,916 common shares in relation to the exercise of 2,448,916 stock options (including 87,477 replacement options) for total proceeds of $2,245,788 and the fair value of $1,782,269 attributable to these stock options was transferred from reserves to share capital. Additionally, 105,612 stock options (including 65,612 replacement options) expired unexercised and the fair value of $183,406 attributable to these stock options was transferred from reserves to deficit. In addition, during the year ended December 31, 2017, the Company granted a total of 3,465,140 stock options with a fair value of $4,264,487, of which $3,136,225 was expensed.

During the year ended December 31, 2018, the Company issued 2,415,666 common shares in relation to the exercise of 2,415,666 stock options for total proceeds of $2,113,632 and the fair value of $1,641,078 attributable to these stock options was transferred from reserves to share capital. Additionally, 292,934 stock options expired unexercised and 25,000 stock options were cancelled and the fair value of $224,306 attributable to these stock options was transferred from reserves to deficit. In addition, during the year ended December 31, 2018, the Company granted a total of 2,799,256 stock options as follows:

• 100,000 stock options with an exercise price of $1.96 per share vest one-third immediately, one-third on January 15, 2019, and one-third on January 15, 2020, with a fair value of $102,519.

• 2,439,256 stock options with an exercise price of $2.11 per share vest one-third immediately, one-third on January 26, 2019, and one-third on January 26, 2020, with a fair value of $2,599,050.

• 100,000 stock options with an exercise price of $2.11 per share vest one-third immediately, one-third on April 27, 2019, and one-third on April 27, 2020, with a fair value of $105,740.

• 160,000 stock options with an exercise price of $1.96 per share vest one-third immediately, one-third on June 26, 2019, and one-third on June 26, 2020, with a fair value of $156,288.

During the year ended December 31, 2018, the Company expensed a total of $3,227,899 (2017 – $3,136,225) as share-based compensation for values of stock options vested.

The fair value of options granted is estimated on the grant date using the Black-Scholes option pricing model using the following weighted average variables:

	For the year ended December 31,
	2018	2017
Risk-free interest rate	1.99%	1.53%
Expected option life in years	4 years	4.90 years
Expected stock price volatility	65%	70%
Expected dividend rate	0%	0%

25

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 12 - Share Capital and Reserves (continued)

Stock Options (continued)

A summary of stock option activities is as follows:

	Number of		Weighted average
	options		exercise price
			$
Outstanding at December 31, 2016	8,187,939		0.98
Exercised	(2,448,916	)	0.92
Granted	3,465,140		2.15
Expired	(105,612	)	2.57
Replacement options issued	153,089		1.67
Outstanding at December 31, 2017	9,251,640		1.43
Exercised	(2,415,666	)	0.87
Granted	2,799,256		2.10
Expired	(292,934	)	2.12
Cancelled	(25,000	)	2.11
Outstanding at December 31, 2018	9,317,296		1.75

A summary of the stock options outstanding and exercisable at December 31, 2018 is as follows:

Exercise	Number	Number
Price	Outstanding	Exercisable	Expiry Date
$
0.77	705,000	705,000	September 12, 2019
0.73	2,225,000	2,225,000	November 27, 2020
3.16	507,500	507,500	September 29, 2021
2.24	325,000	325,000	June 1, 2022
2.12	2,280,540	1,520,360	August 1, 2022
2.25	600,000	400,000	September 12, 2022
1.96	100,000	33,333	January 15, 2023
2.11	2,314,256	771,419	March 5, 2023
2.11	100,000	33,333	April 27, 2023
1.96	160,000	53,333	September 14, 2023
	9,317,296	6,574,278

The stock option reserve records items recognized as share-based compensation expense until such time that the stock options are exercised, at which time the corresponding amount will be transferred to share capital. If vested options expire unexercised or are forfeited, the amount recorded is transferred to deficit.

26

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 12 - Share Capital and Reserves (continued)

Stock Options (continued)

Restricted Share Unit Award Plan

In 2017, the Company adopted a Restricted Share Unit Award Plan (“RSU Plan”) whereby the maximum number of common shares reserved for issue under the RSU Plan shall not exceed 5,000,000 common shares of the Company. In addition, the aggregate number of common shares issuable pursuant to the RSU Plan combined with all of the Company’s other security-based compensation arrangements, including the Company’s Stock Option Plan, shall not exceed 10% of the Company’s outstanding shares. During the year ended December 31, 2017, the Company did not grant any restricted share unit awards.

In March 2018, the Company granted 567,110 restricted share units to certain officers and directors with a fair value of $1,196,602, of which $654,127 was expensed during the year ended December 31, 2018 (2017 – $nil). The restricted share units issued to officers of the Company vest one-third every year. The directors of the Company, who have been granted restricted share units, have the entitlement to have one-third of the grant vest every year. However, the restricted share units will vest only when the director’s position on the Board has been terminated.

NOTE 13 - Segmented Information

The Company has one operating segment, being the acquisition and exploration of exploration and evaluation assets.

Geographic information is as follows:

	As at December 31, 2018
	Canada	US	Total
	$	$	$
Reclamation bonds	-	2,154,027	2,154,027
Property and equipment	67,636	387,786	455,422
Exploration and evaluation assets	-	196,666,709	196,666,709
	67,636	199,208,522	199,276,158
	As at December 31, 2017
	Canada	US	Total
	$	$	$
Reclamation bonds	-	1,248,817	1,248,817
Property and equipment	94,722	313,641	408,363
Exploration and evaluation assets	-	154,435,875	154,435,875
	94,722	155,998,333	156,093,055

27

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 14 - Related Party Transactions

During the year ended December 31, 2018, the Company entered into the following transactions with related parties, not disclosed elsewhere in these financial statements:

i.	As at December 31, 2018, $296,702 (2017 - $640,573) was included in accounts payable and accrued liabilities owing to officers and directors of the Company in relation to professional fees and reimbursement of expenses.
ii.	As at December 31, 2018, $nil (2017 - $7,000) was included in prepaid expenses for prepayments made to directors of the Company in relation to director fees.
iii.	The Company received $18,000 (2017 - $4,500) of rent from a company related by way of common officers.

During the year ended December 31, 2017, a director and officer resigned and the Company agreed to pay a total termination payment of $384,902 in accordance with the terms and conditions of his consulting agreement with the Company.

Summary of key management personnel compensation:

Key management personnel includes those persons having authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has determined that key management personnel consists of members of the Board and corporate officers, including the Company’s Chief Executive Officer and Chief Financial Officer.

	For the year ended December 31,
	2018	2017
	$	$
Management fees	1,360,539	1,750,691
Professional fees	266,150	187,000
Exploration and evaluation assets expenditures	129,872	353,520
Wages and salaries	22,919	43,633
Share-based compensation	2,312,347	2,228,191
	4,091,827	4,563,035

NOTE 15 - Capital Disclosure and Management

The Company considers its capital structure to include the components of shareholders’ equity. Management’s objective is to ensure that there is sufficient capital to minimize liquidity risk and to continue as a going concern. As an exploration stage company, the Company is currently unable to self-finance its operations.

Although the Company has been successful in the past in obtaining financing through the sale of equity securities, there can be no assurance that the Company will be able to obtain adequate financing in the future, or that the terms of such financings will be favourable.

The Company’s share capital is not subject to any external restrictions and the Company did not change its approach to capital management during the year.

28

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 16 - Financial Instruments and Risk Management

Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are:

• Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and

• Level 3 – Inputs that are not based on observable market data.

The Company’s financial instruments consist of cash, receivables, investments, reclamation bonds, and accounts payable and accrued liabilities. The fair value of these financial instruments, other than cash and investments, approximates their carrying values due to the short-term nature of these instruments. Cash and investments are measured at fair value using level 1 inputs.

The Company is exposed to a variety of financial risks by virtue of its activities including currency, credit, interest rate, liquidity, and commodity price.

a)      Currency risk

The Company conducts exploration and evaluation activities in the United States. As such, it is subject to risk due to fluctuations in the exchange rates for the Canadian and US dollars. As at December 31, 2018, the Company had a foreign currency net monetary asset position of approximately US$5,760,000. Each 1% change in the US dollar relative to the Canadian dollar will result in a foreign exchange gain/loss of approximately $57,600.

b)      Credit risk

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations. The Company’s cash is held in large Canadian and U.S. financial institutions and the Company considers this risk to be remote.

c)      Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to limited interest rate risk as it only holds cash and highly liquid short-term investments.

d)      Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its obligations as they come due. The Company’s ability to continue as a going concern is dependent on management’s ability to raise the required capital through future equity or debt issuances. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board are actively involved in the review, planning, and approval of significant expenditures and commitments.

e)      Commodity price risk

The ability of the Company to raise funds to explore and develop its exploration and evaluation assets and the future profitability of the Company are directly related to the price of gold. The Company monitors gold prices to determine the appropriate course of action to be taken.

29

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 17 - Commitments

a)      The Company has a lease agreement for an office space in Vancouver, B.C. expiring on April 30, 2020 and incurring minimum monthly rent payments of approximately $6,000 to the year 2020.

In August 2017, the Company entered into a lease agreement for office premises in Elko, Nevada expiring on August 28, 2022 and incurring minimum monthly rent payments from US$8,000 in 2017 increasing to US$10,000 in 2022. The Company has an option to purchase the property for US$1,100,000 with a credit to be applied to the purchase price based on a percentage of the minimum rent payments made in the year of purchase.

Summary of commitments for office leases:

	Vancouver
	Office	Elko Office	Total
	$	$	$
Payable not later than one year	73,608	141,877	215,485
Payable later than one year and not later than five years	24,536	417,445	441,981
Payable later than five years	-	-	-
Total	98,144	559,322	657,466

b)	The Company has two separate consulting agreements with officers and directors of the Company to provide management consulting and exploration services to the Company for an indefinite term. The agreements require total combined payments of $50,750 per month. Included in each agreement is a provision for a two-year payout in the event of termination without cause and three-year payout in the event of a change in control.
c)	The Company has two separate employment agreements with employees of the Company to provide exploration services to the Company for an indefinite term. The agreements require total combined payments of US$31,767 per month. Included in each agreement is a provision for a two-year payout in the event of termination following a change in control.
d)	The Company has an employment agreement with an officer of the Company to provide corporate secretarial and legal services to the Company for an indefinite term. The agreement requires payment of $19,167 per month. Included in the agreement is a provision for a two-year payout in the event of termination without cause or in the event of a change in control.

NOTE 18 – Supplementary Cash Flow Information

	For the year ended December 31,
	2018	2017
	$	$
Non-cash transactions
Exploration and evaluation assets expenditures in accounts payable at year end	1,355,658	626,913
Shares issued for acquisition of exploration and evaluation assets	-	24,970,694
Reclassification of cancelled stock options	57,591	227,836
Reclassification of expired stock options	166,715	183,406
Reclassification of stock options exercised	1,641,078	1,782,269
Replacement options and warrants issued	-	576,506
Reclassification of investment in associated company to
exploration and evaluation assets	-	5,376,528
Provision for site reclamation	946,010	-

30

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 19 – Income Taxes

The reconciliation of the combined Canadian federal and provincial income tax rate to the income tax recovery presented in the accompanying statements of comprehensive loss is provided below:

	Years ended December 31,
	2018		2017
	$		$
Loss before income taxes	(10,238,910	)	(11,426,786	)
Expected income tax recovery at statutory tax rates	(2,765,000	)	(2,971,000	)
Impact of different statutory tax rates on earnings of subsidiaries	258,000		(1,169,000	)
Change in statutory, foreign tax rates and other	(110,000	)	5,968,000
Foreign exchange	(3,063,000	)	2,390,000
Non-deductible expenditures	666,000		4,147,000
Share issuance costs	(834,000	)	-
Adjustment in prior years provision statutory tax returns and expiry of non-
capital losses	591,000		56,000
Change in unrecognized deductible temporary differences and others	5,257,000		(8,421,000	)
Total	-		-

Significant components of deferred tax assets that have not been recognized are as follows:

	As of December 31,
	2018	2017
	$	$
Share issuance costs	1,167,000	900,000
Non-capital losses	12,987,000	9,489,000
Provision for site reclamation	211,000	-
Allowable capital losses	43,000	-
Property and equipment	95,000	103,000
Exploration and evaluation assets	6,035,000	4,787,000
Total	20,538,000	15,279,000

Significant components of unrecognized deductible temporary differences and unused tax losses that have not been recognized on the statements of financial position are as follows:

	As of December 31,
	2018	Expiry dates	2017	Expiry dates
	$		$
Share issuance costs	4,321,000	2019 to 2022	3,335,000	2018 to 2020
Non-capital losses	54,963,000	2027 to 2038	40,845,000	2027 to 2037
Provision for site reclamation	1,004,000	No Expiry	-	No Expiry
Capital losses	159,000	No Expiry	-	No Expiry
Property and equipment	332,000	No Expiry	385,000	No Expiry
Exploration and evaluation assets	27,259,000	No Expiry	21,480,000	No Expiry

Tax attributes are subject to review, and potential adjustment, by tax authorities.

31

GOLD STANDARD VENTURES CORP.

(An Exploration Stage Company)

Notes to Consolidated Financial Statements

For the year ended December 31, 2018

(Expressed in Canadian Dollars)

NOTE 20 – Subsequent Events

a)

In January 2019, the Company granted 1,821,424 stock options to certain officers, directors, employees and consultants of the Company with an exercise price of $1.74 per option exercisable for a period of 5 years vesting one-third immediately and one-third every year thereafter. In addition, the Company granted 664,730 restricted share units to certain officers and directors vesting one-third every year. Furthermore, 50,000 stock options expired unexercised.

b)

In March 2019, the Company granted 50,000 stock options to an officer of the Company with an exercise price of $1.49 per option exercisable for a period of 5 years vesting one-third immediately and one-third every year thereafter. Furthermore, 120,000 stock options were exercised for proceeds of $88,400.

32

EX-99.3

Exhibit 99.3

Management’s Discussion and Analysis For the year ended December 31, 2018

General

The purpose of this Management’s Discussion and Analysis (“MD&A”) is to explain management’s point of view regarding the past performance and future outlook of Gold Standard Ventures Corp. (“Gold Standard”, “GSV” or the “Company”). This MD&A also provides information to improve the reader’s understanding of the financial statements and related notes as well as important trends and risks affecting the Company’s financial performance, and should therefore be read in conjunction with the Company’s annual audited consolidated financial statements and notes (the “Financial Statements”) and the Company’s annual information form (the “AIF”) for the year ended December 31, 2018.

All information contained in this MD&A is current as of March 28, 2019 unless otherwise stated.

All financial information in this MD&A has been prepared in accordance with International Financial Reporting Standards (“IFRS”) and all dollar amounts are expressed in Canadian dollars unless otherwise indicated.

Additional information on the Company is available on SEDAR at www.sedar.com and EDGAR at www.sec.gov and at the Company’s website, www.goldstandardv.com. The date of this MD&A is March 28, 2019.

Forward-Looking Statements

Certain statements and information contained in this MD&A constitute “forward-looking statements” and “forward looking information” within the meaning of applicable securities legislation. Forward-looking statements and forward looking information include statements concerning the Company’s current expectations, estimates, projections, assumptions and beliefs, and, in certain cases, can be identified by the use of words such as “seeks”, “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will”, “occur” or “be achieved”, or the negative forms of any of these words and other similar expressions.

Examples of forward-looking information in this MD&A may pertain to the following, among others:

1.	the existence and estimates of mineral resources or reserves and the timing of development thereof;
2.	exploration and work programs, including reference to the Company’s plans of operations and notices of intent in place for the Railroad-Pinion Project (as defined below);
3.	plans for additional drilling and exploration activities to investigate potential development opportunities for the Railroad-Pinion Project;
4.	the Company working towards a Pre-Feasibility Study (“PFS”) for the Railroad-Pinion Project;
5.	plan to pursue minority interests in certain key private land parcels where the Company currently holds less than a 100% interest;
6.	performance characteristics of mineral properties;
7.	the expectation that the Dark Star deposit (the “Dark Star Deposit”) may be emerging as a major Carlin gold occurrence where a larger-than-expected ridgeline fault system has played a significant role in concentrating higher grade gold;
8.	mineral resource or reserve predictions based on recent drilling results;

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 2 -

9.	the expectation that the correlation between visual logging of oxidized zones containing limonite and/or hematite in drill samples and cyanide (“CN”) soluble gold assays should support efficient mining operation;
10.	projections of market prices and costs, including estimates of costs and budgeting for potential exploration operations and mining scenarios;
11.	the expectation that the current working capital surplus will be sufficient to fund the complete work program recommended in the Railroad-Pinion Technical Report (as defined below);
12.	estimated property holding and maintenance costs for the Railroad-Pinion Project;
13.	drilling plans and timing of drilling;
14.	treatment under governmental regulatory regimes and tax laws, including the expectation that the Company will be a passive foreign investment company for the taxable year ended December 31, 2018; and
15.	capital expenditure programs and the timing and method of financing thereof.

Forward-looking statements and forward looking information reflect the Company’s current expectations and assumptions, and are subject to a number of known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements and forward looking information, including without limitation:

1.	the Company’s limited operating history;
2.	the Company’s history of losses and expectation of future losses;
3.	uncertainty as to the Company’s ability to continue as a going concern;
4.	the existence of mineral resources on the Company’s mineral properties;
5.	the Company’s ability to obtain adequate financing for exploration and development;
6.	the Company’s ability to attract and retain qualified personnel;
7.	the Company’s ability to carry out operations in accordance with plans in the face of significant disruptions;
8.	the Company’s ability to convert mineral resource estimates previously classified as Inferred to Indicated or Measured and proceeding with economic studies for the Railroad-Pinion Project;
9.	fluctuations in foreign exchange or interest rates and stock market volatility;
10.	uncertainty as to the Company’s ability to maintain effective internal controls;
11.	the involvement by some of the Company’s directors and officers with other natural resource companies;
12.	the uncertain nature of estimating mineral resources and reserves;
13.	uncertainty surrounding the Company’s ability to successfully develop its mineral properties;

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 3 -

14.	exploration, development and mining risks, including risks related to infrastructure, accidents and equipment breakdowns;
15.	title defects to the Company’s mineral properties;
16.	the Company’s ability to obtain all necessary permits and other approvals;
17.	risks related to equipment shortages, access restrictions and inadequate infrastructure;
18.	increased costs and restrictions on operations due to compliance with environmental legislation and potential lawsuits;
19.	fluctuations in the market price of gold (“Au”), other metals and certain other commodities (such as natural gas, fuel, oil, and electricity);
20.	intense competition in the mining industry; and
21.	the Company’s ability to comply with applicable regulatory requirements.

In making the forward-looking statements and developing the forward looking information included in this MD&A, the Company has made various material assumptions, including, but not limited to:

1.	the results of the Company’s proposed exploration programs on the Railroad-Pinion Project will be consistent with current expectations;
2.	the Company’s assessment and interpretation of potential geological structures and mineralization at the Railroad-Pinion Project are accurate in all material respects;
3.	the quantity and grade of mineral resources contained in the Railroad-Pinion Project are accurate in all material respects;
4.	the sufficiency of the Company’s current working capital to carry out the work programs and drilling on the Railroad-Pinion Project including, but not limited to, its North Bullion deposit (the “North Bullion Deposit”), its Dark Star Deposit and its Pinion deposit (the “Pinion Deposit”), as recommended in the Railroad-Pinion Technical Report on a timely basis;
5.	the price for gold, other precious metals and commodities will not change significantly from current levels;
6.	the Company will be able to secure additional financing to continue exploration and, if warranted, development activities on the Railroad-Pinion Project and meet future obligations as required from time to time;
7.	the Company will be able to obtain regulatory approvals and permits in a timely manner and on terms consistent with current expectations;
8.	the involvement by some of the Company’s directors and officers with other natural resource companies will not result in a conflict of interest which adversely affects the Company;
9.	the Company will be able to procure drilling and other mining equipment, energy and supplies in a timely and cost efficient manner to meet the Company’s needs from time to time;
10.	the Company’s capital and operating costs will not increase significantly from current levels;

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 4 -

11.	key personnel will continue their employment with the Company and the Company will be able to recruit and retain additional qualified personnel, as needed, in a timely and cost efficient manner;
12.	there will be no significant adverse changes in the Canada/U.S. currency exchange or interest rates and stock markets;
13.	there will be no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; and
14.	the absence of any material adverse effects arising as a result of political instability, terrorism, sabotage, natural disasters, equipment failures or adverse changes in government legislation or the socio-economic conditions in Nevada and the surrounding area with respect to the Railroad-Pinion Project and operations.

Other assumptions are discussed throughout this MD&A and elsewhere in the Company’s public disclosure record.

The Company’s ability to predict the results of its operations or the effects of various events on its operating results is inherently uncertain. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements and forward looking information or the assumptions on which the Company’s forward-looking statements and forward looking information are based. Investors are advised to carefully review and consider the risk factors identified in this MD&A under, among other places, “Risks and Uncertainties” and elsewhere in the Company’s public disclosure record for a discussion of the factors that could cause the Company’s actual results, performance and achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements and forward looking information. Investors are further cautioned that the foregoing list of risks and assumptions is not exhaustive and prospective investors should consult the more complete discussion of the Company’s business, financial condition and prospects that is included in this MD&A and elsewhere in the Company’s public disclosure record.

Although the Company believes that the assumptions on which the forward-looking statements are made and forward looking information is provided are reasonable, based on the information available to the Company on the date such statements were made or such information was provided, no assurances can be given as to whether these assumptions will prove to be correct. The forward-looking statements and forward looking information contained in this MD&A are expressly qualified in their entirety by the foregoing cautionary statements. Furthermore, the above risks are not intended to represent a complete list of the risks that could affect the Company and readers should not place undue reliance on forward-looking statements and forward looking information in this MD&A.

Forward-looking statements and forward looking information speak only as of the date the statements are made or such information is provided. The Company assumes no obligation to update publicly or otherwise revise any forward-looking statements or forward looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking statements or forward looking information, except to the extent required by applicable laws. If the Company does update one or more forward-looking statements or forward looking information, no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements or forward looking information.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 5 -

Cautionary Notes Regarding Mineral Resource Estimates

The disclosure in this MD&A has been prepared in accordance with the requirements of Canadian securities laws, which differ from the requirements of United States securities laws. Disclosure, including scientific or technical information, has been made in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a regulation developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the “SEC”). In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserve”. Under United States standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by United States standards in documents filed with the SEC. United States investors should also understand that “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. Investors are cautioned not to assume that any part, or all, of the mineral deposits in these categories will ever be converted into mineral reserves. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies. Although it is reasonably expected that the majority of “inferred mineral resources” could be upgraded to “indicated mineral resources” with continued exploration, investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. In addition, the definitions of “proven” and “probable mineral reserves” used in NI 43-101 differ from the definitions in SEC Industry Guide 7 under Regulation S-K of the United States Securities Act of 1933. Disclosure of “contained ounces” is permitted disclosure under Canadian legislation; however, the SEC normally only permits issuers to report mineralization that does not constitute reserves as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this MD&A containing descriptions of the Company’s mineral properties may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

The forward-looking statements and forward-looking information contained herein are based on information available as of March 28, 2019.

Overall Performance

The Company is a Canadian-based company focused on the acquisition and exploration of district-scale and other gold-bearing mineral resource properties exclusively in the State of Nevada, United States. The Company has a limited history of operations and its only material mineral project, the Railroad-Pinion Project, is in the exploration stage. The Company has not been profitable since its inception, has had negative cash flow from operational activities and does not expect to generate revenues in the foreseeable future.

For the fiscal year ended December 31, 2018, the Company had a loss and comprehensive loss of $10,238,910 (2017 - $11,426,786). As at December 31, 2018, the Company had an accumulated deficit of $63,856,702 (2017 - $53,842,098). As at December 31, 2018, the Company had cash of $18,333,732 and a working capital of $16,908,104. The Company estimates that its current working capital will enable it to fund the complete work program recommended in the Railroad-Pinion Technical Report (as defined below). If the Company is successful in identifying additional resources through further drilling and analysis, it will require significant amounts of additional capital to construct processing facilities and to develop metallurgical processes to extract those resources at any mine site.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 6 -

The Company’s ability to arrange financing in the future will depend, in part, upon the prevailing capital market conditions, business performance, and other factors such as volatility in the market price of gold and the availability of necessary equipment and personnel in the highly competitive mining sector.

The Company’s flagship property is the Railroad-Pinion project located along the Piñon mountain range approximately 15 miles (24 kilometers) south-southeast of Carlin, Nevada, in the Railroad mining district (the “Railroad-Pinion Project”). The Railroad-Pinion Project is an intermediate to advanced stage gold exploration project with a favorable structural, geological and stratigraphic setting situated at the southeast end of the Carlin Trend of north-central Nevada, adjacent to and south of Newmont Mining Corporation’s Rain Mining District. The Carlin Trend is a northwest alignment of sedimentary rock-hosted gold deposits where more than 40 separate gold deposits have been delineated in domed geological complexes with past production exceeding 80,000,000 ounces of gold. Each dome or “window” is cored by igneous intrusions that uplift and expose Paleozoic rocks and certain stratigraphic contacts that are favorable for the formation of Carlin-style gold deposits. The Railroad-Pinion Project is centered on the fourth and southernmost dome-shaped window on the Carlin Trend.

The Railroad-Pinion Project consists of a significant and largely contiguous land position totaling approximately 53,769 gross acres (21,760 hectares) and 50,798 net acres (20,557 net hectares) of land in Elko County, Nevada. The Company owns or has an option to acquire ownership of approximately 30,141 gross acres (12,198 hectares) of subsurface mineral rights in the form of patented or unpatented mineral lode (claims), and a further approximately 23,628 gross acres (9,562 hectares) of subsurface mineral rights secured or controlled by a contractual interest in private surface and mineral property in the form of various surface use agreements and mining/mineral leases with terms that the Company seeks to extend from time to time. The private land ownership ranges from 49.2% to 100% yielding a net interest of approximately 20,657 acres (8,360 hectares) of subsurface mineral rights for the private lands within the Railroad-Pinion Project. The Company is pursuing the minority interest in certain key private land parcels where it holds less than a 100% interest.

Portions of the patented, unpatented and private lands are encumbered with royalties predominantly in the form of standard Net (or Gross) Smelter Return (“NSR”) agreements or Net Profit Interest (“NPI”) agreements which the Company has sought to negotiate and reduce over time. See Item 6 “MATERIAL MINERAL PROJECT” in the AIF and the Financial Statements for a discussion of the currently active NSR and NPI encumbrances on the Railroad–Pinion Project.

Note regarding Acreage Disclosure

In this MD&A, the term “gross mineral acres” or “gross acres” in connection with a mineral interest means the total size in number of acres of the property (or a specific piece of property) in which the Company controls a mineral interest. The gross mineral acres are the maximum amount of mineral acres the Company could potentially control in a particular piece of property. For example, if the Company leases a fifty percent (50%) mineral interest in a fee land parcel that is a total of 640 acres in size, then that particular parcel is 640 gross mineral acres.

On the other hand, the term “net mineral acres” or “net acres” means the product of: (a) the total gross acres of the property (or specific piece of property) in which the Company controls a mineral interest; and (b) the percentage of the Company’s mineral interest therein which it controls by way of lease or actual ownership. For example, if the Company leases a fifty percent (50%) mineral interest in a fee land parcel that is a total of 640 acres in size, then the Company controls a total of 320 net mineral acres in that particular parcel. For the calculation of the gross and net mineral acreage for its properties, the Company does not include the surface in split estate fee land parcels.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 7 -

Material Projects

The Company has identified its North Bullion Deposit, its Dark Star Deposit and its Pinion Deposit, which together form the Railroad-Pinion Project, as the Company’s material mineral project for purposes of NI 43-101.

Scientific and technical disclosure for the Railroad-Pinion Project is supported by the amended and restated technical report with an effective date of September 15, 2017, entitled “Technical Report Maiden Resource Estimate North Bullion and Railroad Project, Elko County, Nevada, USA – Amended and Restated” and prepared by Michael B. Dufresne, M.Sc., P.Geol., P.Geo. and Steven J. Nicholls, BA.Sc., MAIG of APEX Geoscience Ltd., qualified persons for the purposes of NI 43-101 (the “Railroad-Pinion Technical Report”). The Railroad-Pinion Technical Report was amended and restated to clarify certain of its contents and was filed on SEDAR on February 19, 2018. It can be accessed at www.sedar.com under the Company’s profile. The Railroad-Pinion Technical Report is the Company’s current technical report for the Railroad-Pinion Project.

The Company has focused on drilling and other exploration activities with the goal of preparing mineral resource estimates for each deposit, as summarized below and detailed in the Railroad-Pinion Technical Report. The Company plans additional drilling and exploration activities to investigate potential development opportunities for the Railroad-Pinion Project and potentially prepare a PFS for the Railroad-Pinion Project.

The Company previously announced its intention to prepare a Preliminary Economic Assessment (“PEA”) for the Railroad-Pinion Project, however the results of infill drilling completed in 2018, along with ongoing analysis and studies, indicate the potential to convert certain mineral resources previously classified as Inferred to Indicated or Measured. Additionally, elements of the initially considered PEA have been conducted to a higher standard suitable for a PFS and, accordingly, the Company is working toward a PFS.

Pinion

A total of 505 drill holes guided the geological interpretation and estimation of the Pinion Deposit mineral resource. This total comprises 24 diamond drill holes and 481 reverse circulation (“RC”) drill holes that were completed from 1981 to 2015 with spacing between drill holes varying from 1 m to 1.25 kilometers.

The mineral resource estimate for the Pinion Deposit is reported at a range of gold cut-off grades, from 0.1–1.0 grams per tonne (“g/t”), for both Indicated and Inferred Mineral Resource categories, as defined according to Canadian Institute of Mining, Metallurgy and Petroleum definition standards, for gold and silver, respectively. For reporting purposes, the mineral resource estimate was constrained within an optimized pit shell using a gold cut-off grade of 0.14 g/t Au. The Pinion Deposit mineral resource estimate comprises an Indicated Mineral Resource of 31.61 million tonnes averaging 0.62 g/t Au, representing a total of 630,300 contained ounces of gold, and an additional Inferred Mineral Resource of 61.08 million tonnes averaging 0.55 g/t Au, representing a further 1,081,300 ounces of gold. The Pinion Deposit silver (“Ag”) resource estimate was constrained to the gold block model and was classified entirely as an Inferred Mineral Resource. The Pinion silver Inferred Mineral Resource comprises 92.69 million tonnes averaging 4.16 g/t Ag, representing a total of 12,401,600 contained ounces of silver. All reported resources include only oxidized mineralization.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 8 -

Dark Star

A maiden mineral resource estimate was calculated in early 2015 for the Dark Star Deposit area prior to the initiation and completion of the 2015 drilling campaign. Based upon positive results from the 2016 Phase 2 drilling at the Dark Star Deposit, an updated mineral resource was calculated in 2017. The 2017 updated mineral resource estimate, with an effective date of June 29, 2017, comprises an Indicated Mineral Resource of 15.38 million tonnes grading 0.54 g/t Au, totalling 265,100 ounces of gold, and an Inferred Mineral Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a lower cut-off grade of 0.20 g/t Au.

North Bullion

Based upon historic drilling and drilling from 2010 to 2017, a maiden mineral resource estimate was presented for the North Bullion Deposit as of September 15, 2017.

The Sweet Hollow and POD oxide Indicated and Inferred Mineral Resource uses a cut-off grade of 0.14 g/t Au, which is constrained within an optimized pit shell and includes an Indicated Mineral Resource of 2.92 million tonnes at 0.96 g/t Au for 90,100 ounces of gold and an Inferred Mineral Resource of 3.36 million tonnes at 0.43 g/t Au for 46,600 ounces of gold. The North Bullion, Sweet Hollow and POD sulphide Inferred Mineral Resource uses a cut-off grade of 1.25 g/t Au, which is constrained within an optimized pit shell, and is comprised of 2.05 million tonnes at 2.60 g/t Au for 171,400 ounces of gold. The North Bullion underground Inferred Mineral Resource, which is reported at a lower 2.25 g/t Au cut-off grade, comprises 5.55 million tonnes at 3.29 g/t Au for 587,700 ounces of gold.

Calculations of mineral resources and reserves are only estimates

Indicated and Inferred Mineral Resources are not Mineral Reserves. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. There has been insufficient exploration to define the Inferred Mineral Resources disclosed above as an Indicated or Measured Mineral Resource; however, it is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a Mineral Reserve in the future.

Recommendations for the Railroad-Pinion Project

Based upon the results to date, the authors of the Railroad-Pinion Technical Report recommended an aggressive exploration program for the Railroad-Pinion Project area involving surface exploration, additional exploration drilling, resource expansion and infill drilling, along with continued metallurgical test work.

The authors recommended a total of 11,280 meters (“m”) (37,000 feet) of RC and core drilling for the Railroad-Pinion Project area for a total cost of US$2,800,000 for 2017-2018. In addition, a total of 37,520 meters (123,100 feet) was recommended for the Pinion Deposit area in 2017-2018 at an additional estimated cost of US$8,287,000. In addition to the drilling, other recommended exploration activities at the Railroad–Pinion Project include geological mapping, geochemical sampling, and ground geophysical surveys (controlled source audio-frequency magnetotellurics, gravity and seismic) as well as a number of metallurgical, engineering and environmental studies. The estimated cost to conduct the proposed property wide exploration activities over the entire Railroad–Pinion Project area was US$5,220,000. The recommended drilling at the Railroad-Pinion Project along with other geological, geophysical, engineering and environmental studies and a contingency of ~7 % yields an overall budget to complete the recommended work of US$17,450,000.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 9 -

The Company has incorporated these recommendations in its activities at the Railroad-Pinion Project to date, and for its 2018 work plan. See “Overall Performance - Exploration and Acquisition Expenditures” below. The Company has undertaken a US$25.8 million exploration and development program on the Railroad-Pinion Project for 2018 (the “2018 Exploration and Development Program”). The 2018 Exploration and Development Program objectives were as follows:

(1) infill and development drilling at the Dark Star Deposit and Pinion Deposit to reduce drill spacing to approximately 30m and convert mineral resources to the Measured and Indicated categories;

(2) exploration drilling at the Jasperoid Wash deposit (the “Jasperoid Wash Deposit”) to reduce drill spacings and provide requisite data for a maiden mineral resource estimate by the end of 2018; and

(3) drilling to test new high-value targets at the Dixie deposit (the “Dixie Deposit”), the Dark Star Corridor, Ski Track and elsewhere within the Railroad District.

On September 20, 2018, the Company announced an expanded exploration and development plan of US$2 million for the remainder of 2018. The expanded exploration and development plan will include 1) drill testing three new exploration targets; 2) further step out drilling at the Dark Star Deposit; 3) further step out drilling at the Jasperoid Wash Deposit; 4) completing the Dark Star Deposit and the Pinion Deposit resource updates in support of economic studies; and 5) expansion of development activities at the Dark Star Deposit and the Pinion Deposit.

The Company continues to gather information, and analyze and interpret such information, in order to investigate potential development opportunities for the Railroad-Pinion Project and is working towards a PFS for the Railroad-Pinion Project.

2018 Developments

The Company has reported positive results from its 2018 drill program subsequent to the Railroad-Pinion Technical Report.

On October 11, 2018, the Company announced that surface rock samples have identified another highly prospective oxide gold target, known as the LT target, on the Railroad-Pinion Project. The LT target is located 3 km north-northwest of the Pinion Deposit. Highlights include assay values ranging from <0.005 to 12.90 g Au/t, including 12.90 g Au/t, 11.20 g Au/t, 6.65 g Au/t and 4.50 g Au/t in individual rock samples collected from surface outcrops over a 400m by 200m area.

Key Highlights from the sample included:

• 70 rock samples were collected from altered outcrops over a 400m by 200m area. Eight samples returned values greater than 1.0 g/t Au, and 9 samples returned fire assay values ranging from 0.1 to 1.0 g Au/t. Noteworthy results included 12.90 g Au/t, 11.20 g Au/t, 6.65 g Au/t and 4.50 g Au/t in four individual chip-channel samples. The range for all samples is from <0.005 to 12.90 g Au/t.

• Cyanide solubility assays run on samples >0.10 g Au/t ranged from 64% to 99%, indicating the mineralization is oxide.

• A geologic mapping program is currently underway to identify the extent of the altered multilithic breccia host and structural controls of the area. This information will be used to develop drill targets for 2019.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 10 -

On October 16, 2018, the Company announced results from 1 core hole and 1 RC drill hole at the Dark Star Deposit.

Key Highlights from the drilling included:

• In the northern portion of the Dark Star Deposit, core hole DC18-22 intersected an oxidized interval of 213.7m of 2.52 g Au/t, including 117.4m of 3.99 g Au/t. Below the thick oxide mineralization, the hole intersected an interval of reduced mineralization including 16.8m of 3.66 g Au/t.

• Also, in the northern portion of the Dark Star Deposit, RC hole DR18-106 intersected 163.1m of 1.24 g Au/t, including separate intervals of 27.4m of 2.09 g Au/t, 7.6m of 1.88 g Au/t and 27.4m of 2.52 g Au/t. Oxidized mineralization extends approximately 30m below the current resource model. Below the oxide mineralization, the hole intersected a reduced zone of 4.6m of 1.84 g Au/t.

• Based on the reduced intercepts in DR18-70, -104, -105, and now DC18-22, that are below the block model, there is an emerging and expanding sulfide target below the thick, vertically-continuous zones of oxide mineralization (see September 24, 2018 news release).

On November 15, 2018, the Company announced results from 2 RC holes and 4 core holes at the Dark Star Deposit.

Key Highlights from the drilling included:

• DR18-109 stepped out to the north of Dark Star and intersected two zones of oxide mineralization: an upper near surface zone of 18.3m of 1.13 g Au/t, including 6.1m of 2.96 g Au/t; and a lower zone of 33.5m of 2.33 g Au/t, including 15.2m of 4.24 g Au/t. Mineralization extends approximately 30m below the current resource model and remains open to the west and north.

• In the northern portion of Dark Star, RC hole DR18-110 intersected an oxidized interval of 109.7m of 1.00 g Au/t, including separate intervals of 24.4m of 2.05 g Au/t and 13.7m of 1.25 g Au/t.
  Mineralization extends approximately 25m below the current resource model and remains open to the west, east and north. Below the oxide mineralization, the hole intersected a reduced (sulfidic) zone of 12.2m of 3.94 g Au/t.

• Based on the reduced intercepts in fourteen drill holes, we can now see a large sulfide target emerging below the thick, vertically-continuous zones of oxide mineralization in the northern portion of Dark Star. The known dimensions of this zone of reduced mineralization are approximately 300m (north- south) by 90m (east-west). Some drill hole examples include: 16.8m of 3.66 g Au/t in DC18-22 (see October 16, 2018 news release); 10.7m of 5.85 g Au/t in DR18-70 and 27.4m of 2.28 g Au/t in DR18- 104 (see September 24, 2018 news release).

• DC18-23, a step out core hole in the southern portion of Dark Star, intersected 45.1m of 1.16 g Au/t, including 10.7m of 2.61 g Au/t. Oxide mineralization begins at the current topographic surface, it remains open in multiple directions and the intercept extends the gold grade in the current resource model. DC18-23 is approximately 240m south of DC18-17 which intersected 76.6m of 0.47 g Au/t, and 60m east of DC18-18 which intersected 15.2m of 0.38 g Au/t (see September 24, 2018 news release). Collectively, this new opportunity to expand the resource is coincident with an undrilled surface outcrop rock chip anomaly south of the known deposit. Additional drilling is planned for this area over the next few weeks.

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• DC18-04, DC18-06 and DC18-08 were geotechnical core holes drilled away from the resource into the proposed west and east highwalls, to confirm geotechnical parameters in the proposed open pit highwall. Gold mineralization was not expected in these drill holes.

• 5 drill rigs were active on site testing the following: 1) new targets at depth below the Dark Star current resource model, and lateral resource expansion to the north, west and south of the current Dark Star resource; 2) extensions of the known shallow oxide mineralization and new targets at Jasperoid Wash; 3) new shallow oxide targets at Dixie; and 4) new shallow oxide targets at Ski Track.

Recent Developments

On January 22, 2019, the Company announced the continuation of step-out and infill drilling at the Dark Star Deposit.

Key Highlights from the drilling included:

• 3 RC rigs were active on-site testing the following targets: 1) in the northern portion of Dark Star, potential continued expansion to the north, west and at depth of the current Dark Star resource.
  Drilling will offset 2018 drill holes DR18-99 (56.4m of 2.94 g Au/t, including 16.8m of 8.67 g Au/t, and DR18-109 (33.5m of 2.33 g Au/t, including 15.2m of 4.24 g Au/t) (see August 24, 2018 and November 15, 2018 news releases; and 2) in the southern portion of Dark Star, a new shallow oxide target that remains open to the south and southeast.

• In the southern portion of Dark Star, core hole DC18-24 intersected 35.7m of 0.60 g Au/t, including 10.5m of 1.28 g Au/t. Oxide mineralization begins at the current topographic surface and is open to the south. DC18-24, continues to expand the near surface mineralization found in previously released DC18-18 (September 24, 2018 returning 15.2m of 0.38 g Au/t) and DC18-23 (November 15, 2018 yielding 45.1m of 1.16 g Au/t). Collectively, these new holes are coincident with a previously undrilled surface rock chip anomaly south of the known deposit.

• DC18-10, and DC18-12 were geotechnical core holes drilled away from the resource into the proposed west and east highwalls, to confirm geotechnical slope parameters in the proposed open pit highwall.
  Gold mineralization was not expected in these drill holes. Nonetheless, DC18-10 intersected 29.6m of 0.26 g Au/t of oxide mineralization and ended at 198.1m in 1.08 g Au/t.

On February 5, 2019, the Company reported more oxide results from 11 RC holes and one core hole at the Dark Star Deposit.

Key Highlights from the drilling included:

• In the northern portion of Dark Star, RC hole DR18-117 intersected an oxidized interval of 77.7m of 0.90 g Au/t, including 42.7m of 1.26 g Au/t. This new step out intercept is approximately 30m west of DS17-37 (141.8m of 3.32 g Au/t announced January 23, 2018) where mineralization remains open to the south. Due to poor drilling conditions, the hole ended at 231.7m in 0.41 g Au/t before testing the entire target.

• Also, in the northern portion of Dark Star, DR18-113 intersected 18.3m of 0.34 g Au/t. Oxide mineralization in this northern step out hole remains open to the north and west.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 12 -

• Results from the 2018 Dark Star development program continue to reveal a robust, vertically and laterally-extensive oxide gold system on the north end of the deposit that, at depth, transitions into higher-grade sulfide gold mineralization. Unique geologic patterns associated with Dark Star include deep oxidation; multilithic hydrothermal breccias; and the intersection of north-, west northwest- and northeast-striking faults. Based on 2D seismic interpretations, these geologic patterns occur in the near-surface environment above a buried and untested anticline. Gold Standard now believes that deeper, lower plate carbonate hosted gold targets are likely occur in this favorable structural setting beneath the Dark Star deposit similar to the structural setting in the Carlin North Area. Drill testing of these deeper targets will be one focus of the 2019 program.

• DC18-14 was a geotechnical core hole drilled away from the resource into the proposed east highwall, to confirm geotechnical parameters in the proposed open pit highwall. The hole intersected 33.5m of 0.29 g Au/t of oxide mineralization beginning at the current topographic surface.

• DR18-107, -108, -111 and -112 were environmental monitor holes completed west of the deposit. Mineralization was not expected in these drill holes; however, DR18-108 intersected a reduced intercept of 7.6m of 2.43 g Au/t.

• In the current 2019 program, 3 drill rigs operating at Dark Star have completed 6,970m of drilling in 47 holes. These holes are testing new targets at depth below the current resource model, and lateral resource expansion to the north, west and south of the current Dark Star resource. The 2019 program will infill the current resource to approximately 30m drill spacings for conversion to measured and inferred classification.

On February 12, 2019, the Company reported Phase 2 results from 18 RC drill holes and one core hole at the Dixie Deposit and the Arcturus target.

Key Highlights from the drilling included:

• DX18-19 intersected 118.9m of 0.61 g Au/t, including two higher-grade zones of 10.7m of 1.49 g Au/t and 15.2m of 1.32 g Au/t in favorable Penn-Perm debris flow conglomerate and calcarenite.
  Mineralization occurs in the immediate footwall of a quartz porphyry dike-filled fault corridor. DX18- 19 along with DX18-26 (this release – see below) and DX18-06 (67.1m of 1.05 g Au/t – see June 13, 2018 news release) confirm the vertical and lateral continuity of the gold mineralization, with locally higher-grade intervals exceeding 1.0 g Au/t.

• DX18-26 intersected 137.2m of 0.53 g Au/t including 9.1m of 1.26 g Au/t and 6.1m of 1.02 g Au/t, approximately 100m south of DX18-19. Mineralization remains open along strike.

• DX18-24 intersected 18.3m of 0.92 g Au/t, including 9.1m of 1.29 g Au/t, in favorable Penn-Perm calcarenite west of DX18-26. Shallow mineralization occurs proximal to quartz porphyry dikes and begins within 90m of the current topographic surface.

• On the north end of Dixie, DX18-21 intersected 65.5m of 0.39 g Au/t, including 9.1m of 1.14 g Au/t in favorable Penn-Perm debris flow conglomerate and calcarenite. Gold mineralization begins approximately 80m below the current topographic surface.

• Visual logging of the RC cuttings indicates that the thickness and intensity of oxidation increase to the north. AuCN test results indicate the significant drill intercepts are comprised of zones of both oxide and reduced mineralization. AuCN ratios are a first-pass estimate of the potential gold recovery and ratios >60% are indicative of oxide material. Further metallurgical work is required.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 13 -

• Five holes (DX18-14, -15, -16, -17 and -22) were completed into the new Arcturus target, approximately 750m west of the Dixie deposit. These are the first holes testing a large area of alteration and favorable structure. No significant results were reported.

On February 21, 2019, the Company reported Phase 2 results from 19 RC holes and 2 core holes at the Jasperoid Wash Deposit.

Key Highlights from the drilling included:

• Core hole JW18-30 intersected 27.7m of 0.86 g Au/t, including 4.9m of 1.12 g Au/t and 12.2m of 1.17 g Au/t. The hole confirmed the down-dip continuity of mineralization intersected in JW18-01 (see July 26, 2018 news release). Material from this hole will be used for column leach testing.

• Step out hole JW18-37 intersected 25.9m of 0.69 g Au/t, including 6.1m of 1.10 g Au/t, of near-surface oxide mineralization. This intercept is approximately 80m north of drill holes JW18-26 (22.9m of 0.76 g Au/t, including 10.7m of 1.15 g Au/t) and JW18-28 (38.1m of 0.63 g Au/t, including 15.2m of 1.23 g Au/t) (see July 26, 2018 news release). These oxide intercepts begin at or near the current topographic surface.

• JW18-29, a core twin of RC hole JW18-16 (27.4m of 0.25 g Au/t - announced on July 26, 2018), intersected 53.2m of 0.31 g Au/t in the central portion of the deposit. Oxide mineralization begins at the current topographic surface and the intercept is thicker and higher-grade than the JW18-16 intercept. Mineralized material from this hole will be used for column leach testing.

• On the northernmost end of the deposit, step out drill holes JW18-47 and -48 intersected oxide mineralization beginning at the current topographic surface. These intercepts extend the strike length of the deposit approximately 550m to the north of drill holes JW18-26 (22.9m of 0.76 g Au/t) and JW18-28 (38.1m of 0.63 g Au/t) where mineralization also begins at or near the current topographic surface (see July 26, 2018 news release). Mineralization remains open for additional expansion.

• On the southern end of the deposit, drill holes JW18-38, -40, -41, -43 and -44 intersected shallow oxide gold mineralization that extends the deposit to the south and southeast. Oxide mineralization begins at or near the current topographic surface, and remains open to the east and south.

• Drilling has outlined a zone of near-surface, oxide gold mineralization measuring approximately 1,575m long (striking north-northeast) by 650m wide (east-west). The 49 holes completed in 2018 continue to establish lateral and strike continuity of the near-surface oxide mineralization which remains open in multiple directions.

• AuCN test results indicate the significant drill intercepts are comprised of zones of both oxide and reduced mineralization. AuCN ratios are a first-pass estimate of the potential gold recovery and ratios >60% are indicative of oxide material. Further metallurgical work is required.

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On March 4, 2019, the Company reported more oxide results from 37 RC holes at the Dark Star Deposit.

Key Highlights from the drilling included:

• 11 infill holes on the east side of the deposit confirm thick zones of oxide mineralization beginning at the current topographic surface. Noteworthy intercepts include: 51.8m of 0.73 g Au/t, including 13.7m of 1.58 g Au/t in DR19-37; 42.7m of 0.50 g Au/t, including 6.1m of 1.15 g Au/t in DR19-46; and 62.5m of 0.40 g Au/t, including 7.6m of 1.04 g Au/t in DR19-52. These results either confirm or slightly improve upon the current resource block model.

• Four infill holes (DR19-08, -09, -23 and -24), in the core of the southern portion of Dark Star, confirmed higher-grade, near-surface oxide mineralization in the current resource block model.
  Intercepts include 103.7m of 0.59 g Au/t, including 19.8m of 1.32 g Au/t in DR19-08; 89.9m of 0.77 g Au/t, including 29.0m of 1.53 g Au/t in DR19-23; and 80.8m of 1.02 g Au/t, including 13.7m of 1.35 g Au/t and 15.2m of 1.80 g Au/t in DR19-24.

• On the far south end of the deposit, step out hole DR19-38 intersected 13.7m of 0.95 g Au/t starting at the current topographic surface. This oxide mineralization remains open to the south for further resource expansion.

• On the west side, step out drill holes DR19-05 and DR19-20 extend near-surface oxide mineralization to the west of DC18-18 (15.2m of 0.38 g Au/t, see 9-24-18 news release). This oxide mineralization also remains open for further resource expansion.

On March 26, 2019, the Company reported more oxide gold results from 30 RC infill and step out holes at the Dark Star Deposit.

Key Highlights from the drilling included:

• In the northern portion of the deposit, two step out holes intersected thick zones of oxide mineralization including: 22.9m of 1.92 g Au/t, including 13.7m of 3.04 g Au/t in DR19-15; and 51.8m of 1.07 g Au/t, including 16.8m of 2.58 g Au/t in DR19-26. These holes extend oxide mineralization approximately 50m north of DR18-110, which intersected 109.7m of 1.00 g Au/t including 24.4m of 2.05 g Au/t (see November 15, 2018 news release). Mineralization remains open to the north and northwest for resource expansion.

• In the southeastern portion of the deposit, nine infill and step out holes (DR19-49, -55, -57, -58, -59, -64, -65, -70, -71) intersected thick intervals of oxide mineralization that begin at or near the current topographic surface. Drill intercepts either confirm or exceed the current resource block model for grade and thickness. Significant intercepts include: 88.4m of 0.61 g Au/t in DR19-57; 54.9m of 0.85 g Au/t, including 13.7m of 2.06 g Au/t in DR19-58; 39.6m of 1.25 g Au/t, including 15.2m of 2.02 g Au/t in DR19-65; 33.5m of 0.70 g Au/t, including 6.1m of 1.25 g Au/t in DR19-70; and 62.5m of 0.86 g Au/t, including 18.3m of 1.38 g Au/t in DR19-71. Mineralization remains open to the east and south for resource expansion.

• In the central portion of the deposit, infill holes DR19-01, -06, -60 and -62 indicate that oxide mineralization is more continuous then previously modeled along the northwest-striking Saddle Fault. Additional infill and step out drilling will be required in this portion of the resource.

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Exploration and Acquisition Expenditures

During the year ended December 31, 2018, the Company incurred $42,230,834 (2017 - $60,522,739) in acquisition and deferred exploration and development costs. Expenditures in fiscal 2018 included a payment of $4,427,850 for the NSR Buy-Down (as defined below); expenditures in 2017 included in acquisition costs of $35,745,391 for the acquisition of the Lewis Gold Project (as defined below).

The following is a breakdown of the material components of the Company’s exploration and evaluation asset additions for the year ended December 31, 2018 and 2017:

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
Year Ended December 31, 2018	$	$	$
Property acquisition and staking costs	4,989	-	4,989
NSR Buy-Down (1)	4,427,850	-	4,427,850
Exploration expenses
Claim maintenance fees	359,532	81,528	441,060
Consulting	3,692,499	81,721	3,774,220
Data Analysis	58,172	22,282	80,454
Drilling	18,472,855	174,781	18,647,636
Engineering	134,827	-	134,827
Environmental and permitting	387,679	-	387,679
Equipment rental	127,471	491	127,962
Geological	788,032	25,554	813,586
Geotechnical	654,687	-	654,687
Hydrology	930,729	-	930,729
Lease payments	1,805,255	118,784	1,924,039
Metallurgy	551,864	-	551,864
Preliminary economic assessment	579,226	-	579,226
Provision for site reclamation	946,010	-	946,010
Sampling and processing	561,710	81,770	643,480
Site development and reclamation	5,722,669	98,297	5,820,966
Supplies	1,224,990	1,002	1,225,992
Vehicle	113,578	-	113,578
	41,544,624	686,210	42,230,834

(1)      On March 23, 2018, the Company exercised its NSR buy-down option under its lease agreement with Pereira Family, LLC (“Pereira”) to reduce an NSR royalty from five percent (5%) to two percent (2%), by making a lump-sum payment of US$3.5 million to Pereira (the “NSR Buy- Down”).

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 16 -

	Railroad-
	Pinion	Lewis Gold	Total
Year Ended December 31, 2017
Property acquisition and staking
Costs	253,744	35,745,391	35,999,135
Exploration expenses
Claim maintenance fees	369,925	79,138	449,063
Consulting	2,361,902	234,684	2,596,586
Data analysis	498,200	22,482	520,682
Drilling	11,834,010	1,299,403	13,133,413
Environmental and permitting	275,885	4,648	280,533
Equipment rental	78,392	1,849	80,241
Geological	997,238	15,275	1,012,513
Lease payments	1,487,916	109,563	1,597,479
Metallurgy	909,757	-	909,757
Sampling and processing	1,141,491	28,386	1,169,877
Site development and reclamation	1,293,953	149,086	1,443,039
Supplies	1,278,358	2,722	1,281,080
Travel	49,341	-	49,341
	22,830,112	37,692,627	60,522,739

The total cumulative acquisition and exploration costs of the Company to December 31, 2018 are summarized as follows:

	Railroad-	Lewis Gold	Total
	Pinion Project	Project
	$	$	$
Property acquisition and staking costs	17,644,831	35,745,391	53,390,222
NSR buy-down	4,427,850	-	4,427,850
Exploration expenses
Claim maintenance fees	1,749,364	160,666	1,910,030
Consulting	13,767,650	316,405	14,084,055
Data analysis/geological	5,122,015	85,593	5,207,608
Drilling/site development	94,715,680	1,727,631	96,443,311
Engineering	134,827	-	134,827
Environmental	679,669	4,648	684,317
Geotechnical	654,687	-	654,687
Hydrology	930,729	-	930,729
Lease payments	8,630,406	228,347	8,858,753
Legal fees for property acquisition	10,412	-	10,412
Metallurgy	2,061,089	-	2,061,089
Preliminary economic assessment	579,226	-	579,226
Provision for site reclamation	946,010	-	946,010
Sampling and processing	5,557,854	110,156	5,668,010
Travel	469,491	-	469,491
Vehicle	206,082	-	206,082
Cumulative acquisition and exploration costs at December 31, 2018	158,287,872	38,378,837	196,666,709

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Corporate Activities

On January 29, 2018, Ron Clayton was appointed as a director of the Company.

On February 22, 2018, the Company completed an underwritten public offering of 13,750,440 common shares and a concurrent non-brokered private placement of 4,876,000 common shares at a price of $2.05 per share for aggregate gross proceeds of $38,184,202 (the “February 2018 Financings”). As part of the private placement, Goldcorp Inc. (TSX/NYSE: G) (“Goldcorp”) and a wholly-owned subsidiary of OceanaGold Corporation (TSX/ASX/NZX: OCG) (“OceanaGold”) exercised their participation rights and purchased 2,195,100 and 2,680,900 common shares, respectively, and held approximately 9.9% and 15.6% of the Company’s issued and outstanding common shares, respectively, on a non-diluted basis immediately following the February 2018 Financings.

The net proceeds of the February 2018 Financings were used for continued exploration and early-stage development at the Company’s 100% owned Railroad-Pinion Project and for working capital purposes.

On September 5, 2018, the Company completed a private placement of 5,230,901 common shares at a price of $2.05 per share for aggregate gross proceeds of $10,723,347 (the “September 2018 Financing” and, together with the February 2018 Financings, the “2018 Financings”). As part of the September 2018 Financing, Goldcorp and OceanaGold exercised their participation rights and purchased 2,926,829 and 975,609 common shares, respectively, and held approximately 13.6% and 15.57% of the Company’s issued and outstanding common shares, respectively, on a non-diluted basis immediately following the September 2018 Financing.

The net proceeds of the September 2018 Financing are being used for continued exploration and early-stage development at the Company’s 100% owned Railroad-Pinion Project and for working capital purposes.

During the year ended December 31, 2018, the Company granted a total of 2,799,256 stock options exercisable for periods up to 5 years at prices ranging from $1.96 to $2.11 per share to directors, executive officers, employees and consultants of the Company. In addition, the Company granted 567,110 restricted share units to executive officers and directors of the Company. The Company also received total proceeds of $2,113,632 from the exercise of 2,415,666 stock options. Furthermore, 292,934 stock options expired unexercised and 25,000 stock options were cancelled.

As at December 31, 2018, the Company had a cash position of $18,333,732 and working capital of $16,908,104. See “Liquidity, Financial Position and Capital Resources” below.

Subsequent to December 31, 2018, the Company granted a total of 1,871,424 stock options exercisable for periods of 5 years at a weighted average price of $1.73 per share to directors, executive officers, employees and consultants of the Company. In addition, the Company granted 664,730 restricted share units to executive officers and directors of the Company. The Company also received total proceeds of $88,400 from the exercise of 120,000 stock options and 50,000 stock options expired unexercised.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 18 -

Selected Annual Information

All financial information in this MD&A has been prepared in accordance with IFRS.

The following financial data is derived from the Company’s annual audited consolidated financial statements for the years ended December 31, 2018, 2017 and 2016:

	2018		2017		2016
	$		$		$
Revenues (interest income)	397,158		303,843		176,732
General and administrative expenses	(10,547,736)	)	(10,931,631	)	(9,053,385	)
Loss and comprehensive loss	(10,238,910)	)	(11,426,786	)	(9,465,128	)
Basic and diluted loss per common share	(0.04)	)	(0.05	)	(0.05	)
Working capital	16,908,104		17,511,874		52,640,842
Exploration and evaluation assets	196,666,709		154,435,875		93,913,136
Total assets	218,134,484		175,247,028		155,344,729
Total liabilities	2,954,721		1,642,099		1,502,694

The Company’s mineral projects are in the exploration stage and, to date, the Company has not generated any revenues other than interest income. As at December 31, 2018, the Company had not yet achieved profitable operations and has accumulated losses of $63,856,702 (2017 - $53,842,098) since inception. These losses resulted in a net loss per share (basic and diluted) for the year ended December 31, 2018 of $0.04 (2017 -$0.05).

Results of Operations

As an exploration company, the Company has yet to generate any revenue from its planned operations and has, to date, incurred annual net losses from operating and administrative expenses.

Operating and Administrative Expenses

The Company’s operating and administrative expenses for the year ended December 31, 2018 totalled $10,547,736 (2017 - $10,931,631; 2016 - $9,053,385), including share-based compensation incurred during the year, valued at $3,882,026 (2017 - $3,136,225; 2016 - $1,324,521) calculated using the Black Scholes option pricing model.

The following tables detail changes in major expenditures between the years ended December 31, 2018, 2017 and 2016:

Fiscal Year Ended December 31, 2018 compared to December 31, 2017

Expenses	Increase / Decrease in	Explanation for Change
	Expenses
Consulting fees	Increase of $435,726	Increased as the Company engaged more marketing,human resources, and financial advisory consultants.
Management fees	Decrease of $390,152	Higher 2017 expenses associated with the hiring of the new Vice President General Counsel and Corporate Secretary and the termination payment to the former Corporate Secretary in the comparative period of 2017.

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Expenses	Increase / Decrease in	Explanation for Change
	Expenses
Professional fees	Increase of $373,765	Increased due to legal fees related to preparation of a short form base shelf prospectus and increased corporate activities.
Regulatory and shareholders service	Decrease of $227,987	Higher 2017 expenses associated with the Canadian filings fees due to substantial increase in market capitalization and a one-time transaction fee paid to the NYSE American LLC for the acquisition of Battle Mountain Gold Inc. (“Battle Mountain”) in the comparative period of 2017.
Share-based compensation	Increase of $745,801	Value of stock options and restricted share units vested in 2018 is higher due to the implementation of the graded vesting method to the share-based compensation, which began in August 2017.

Fiscal Year Ended December 31, 2017 compared to December 31, 2016

Expenses	Increase / Decrease in	Explanation for Change
	Expenses
Consulting fees	Decrease of $1,008,071	Decreased as the Company engaged fewer marketing and financial advisory consultants and a termination fee paid to one of the Company’s consultants in 2016.
Management fees	Increase of $141,136	Increased due to hiring of the new Vice President - General Counsel and Corporate Secretary and the termination payment to the former Corporate Secretary.
Property investigation	Decrease of $351,309	Higher 2016 expenses associated with due diligence and investigation of the Lewis Gold Project located in the Lander County, Nevada within the Battle Mountain trend (the “Lewis Gold Project”). The Company subsequently acquired the Lewis Gold Project in 2017.
Regulatory and shareholders service	Increase of $439,113	Increased Canadian filings fees due to substantial increase in market capitalization, a one-time transaction fee paid to the NYSE American LLC for the acquisition of Battle Mountain, and a one-time listing fee paid for the graduation to the Toronto Stock Exchange.
Share-based compensation	Increase of $1,811,704	3,465,140 stock options were granted during fiscal 2017 compared to 672,500 stock options granted in fiscal 2016, due in part to a deferral of 2016 stock option grants to 2017.

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Summary of Quarterly Results

The following selected quarterly consolidated financial information is derived from the financial statements of the Company.

	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Three months ended	Dec 31, 2018		Sep 30, 2018		Jun 30, 2018		Mar 31, 2018
	$		$		$		$
Interest income	83,643		96,555		159,472		57,488
Loss and comprehensive loss	(2,348,464	)	(2,700,039	)	(2,563,435	)	(2,626,972	)
Loss per share-basic and diluted	(0.01	)	(0.01	)	(0.01	)	(0.01	)
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Three months ended	Dec 31, 2017		Sep 30, 2017		Jun 30, 2017		Mar 31, 2017
	$		$		$		$
Interest income	54,854		76,264		89,556		83,169
Loss and comprehensive loss	(2,855,446	)	(4,395,238	)	(2,705,640	)	(1,470,462	)
Loss per share-basic and diluted	(0.01	)	(0.02	)	(0.01	)	(0.01	)

Variances quarter over quarter can be explained as follows:

• In the quarters ended June 30, 2017, September 30, 2017, December 31, 2017, June 30, 2018 and September 30, 2018, stock options, and in the quarter ended March 31, 2018, stock options and restricted share units, were granted to various directors, officers, employees and consultants. These grants resulted in option and share-based compensation expenses of $420,329, $1,839,496, $876,400, $1,345,343, $851,848, and $873,216, respectively, contributing to significantly higher losses in these quarters compared to quarters in which no stock options or restricted share units were granted.

• In the quarters ended March 31, 2017, June 30, 2017, September 30, 2017, and September 30, 2018, the Company recorded a foreign exchange loss of $171,187, $302,040, $496,327, and $197,763, respectively, due to the weakening of the U.S. dollar.

• In the quarters ended March 31, 2018, June 30, 2018, and December 31, 2018, the Company recorded a foreign exchange gain of $372,821, $222,448, and $323,344, respectively, due to the strengthening of the U.S. dollar.

• In the quarter ended September 30, 2017, the Company agreed to pay a total termination payment of $384,902 to the former Corporate Secretary and director in accordance with the terms and conditions of his consulting agreement with the Company.

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Fourth Quarter

The Company’s operating and administrative expenses for the quarter ended December 31, 2018 totalled $2,432,107. The major expenses for the quarter ended December 31, 2018 were management fees, including year-end bonuses of $526,999, professional fees of $306,545, consulting fees of $269,370, insurance of $113,518, travel and related expenses of $198,815, share-based compensation of $811,619, and wages and salaries of $160,792.

The Company incurred a total of $10,482,297 and $200,621 in deferred exploration expenses on its Railroad-Pinion Project and Lewis Gold Project, respectively, during the fourth quarter. See “Overall Performance –Exploration and Acquisition Activities” above.

Liquidity, Financial Position and Capital Resources

To date, the Company has established mineral resources at the Pinion Deposit, the Dark Star Deposit, and the North Bullion Deposit (see “Overall Performance” above) but is not in commercial production on any portion of the Railroad-Pinion Project or the Lewis Gold Project. Accordingly, the Company does not generate cash from operations. The Company finances its exploration activities by raising capital from equity markets from time to time.

As at December 31, 2018 and 2017, the Company’s liquidity and capital resources were as follows:

	December 31, 2018	December 31, 2017
	$	$
Cash	18,333,732	18,458,791
Receivables	34,692	66,544
Prepaid expenses	489,902	319,603
Investments	-	309,035
Total current assets	18,858,326	19,153,973
Payables and accrued liabilities	1,950,222	1,642,099
Working capital	16,908,104	17,511,874

The Company’s operations consist primarily of the acquisition, maintenance and exploration of exploration and evaluation assets, including seeking joint venture partners to assist with exploration funding. The Company’s financial success will be dependent on the extent to which it can discover new mineral deposits.

As at December 31, 2018, the Company had a cash position of $18,333,732 (2017 - $18,458,791) derived from the net proceeds of the 2018 Financings (see “Use of Proceeds from 2018 Financings” below) and the exercise of stock options. As at December 31, 2018, the Company’s working capital was $16,908,104 (2017 – $17,511,874).

The Company’s continuation as a going concern is dependent upon successful results from its exploration and evaluation activities and its ability to attain profitable operations and generate funds therefrom and/or raise equity capital or borrowings sufficient to meet current and future obligations. Management believes it currently has sufficient cash on hand to maintain its projects and finance its exploration programs and operating costs over the next 12 months, after which time the Company will require additional capital to carry out further exploration on the Railroad-Pinion Project and maintain operations. The Company’s ability to arrange financing in the future will depend, in part, upon the prevailing capital market conditions and the price of gold as well as its business performance. There can be no assurance that the Company will be successful in its efforts to arrange additional financing on terms satisfactory to it or at all. If the Company raises additional financing through the issuance of shares from its treasury, control of the Company may change and existing shareholders will suffer additional dilution. See “Risks and Uncertainties” below.

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Use of Proceeds from 2018 Financings

In February 2018, the Company completed the February 2018 Financings and issued a total of 18,626,440 common shares at a price of $2.05 per share for proceeds of $35,561,125, net of cash commissions and expenses of $2,623,077.

In September 2018, the Company completed the September 2018 Financing and issued 5,230,901 common shares of the Company at a price of $2.05 per share for proceeds totalling $10,256,961, net of cash commissions and expenses of $466,386.

The net proceeds of the September 2018 Financing are being used to fund additional drilling and exploration totalling US$2 million at the Railroad-Pinion Project and the remaining balance will be used for general working capital purposes. In September 2018, management approved reallocating budgeted amounts from general working capital to exploration and drilling, infill drilling and lease payment extension as outlined in the table below.

The Company’s business objective is to explore its Railroad-Pinion Project in an effort to investigate the potential to develop an economically viable mineral project. By using the net proceeds of the 2018 Financings as described above, the Company will pursue its business objectives by gathering information required to prepare a PFS for the Railroad-Pinion Project.

	Reallocated Use of	Expenditures up to
	Proceeds	December 31, 2018
	$	$
Exploration and drilling	17,910,000	17,973,000
Infill drilling	13,458,000	13,551,000
Lease and BLM payments	2,225,000	2,365,000
General working capital	12,225,000	11,929,000
TOTAL	45,818,000	45,818,000

Off Balance Sheet Arrangements

The Company has no off balance sheet arrangements.

Commitments

As at the date of this MD&A, the Company has the following commitments:

1.	The Company has a lease agreement for an office space in Vancouver, B.C. expiring on April 30, 2020, incurring monthly rent payments of approximately $6,000 to the year 2020.
2.	The Company has a lease agreement for a property in Elko, Nevada expiring on August 28, 2022 and incurring minimum monthly rent payments from US$8,000 in 2017 increasing to US$10,000 in 2022. The Company has an option to purchase the property for US$1,100,000 with a credit to be applied to the purchase price based on a percentage of the minimum rent payments made in the year of purchase.

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3.	The Company has two separate consulting agreements with the CEO & director and the CFO of the Company to provide management and other consulting services to the Company for an indefinite term. The agreements require total combined payments of $50,750 per month. The consulting agreements provide for a two-year payout totalling, on a collective basis, approximately $1.7 million (including average discretionary bonuses paid in the preceding two years) in the event of termination without cause and a three-year payout totalling, on a collective basis, (including average discretionary bonuses paid in the preceding two years) approximately $2.6 million in the event of termination following a change in control of the Company.
4.	The Company has two separate employment agreements with the Chief Geologist and the Manager of Projects of the Company to provide exploration services to the Company for an indefinite term. The agreements require total combined payments of US$32,167 per month. The employment agreements provide for a two-year payout totalling, on a collective basis, approximately US$0.9 million (including average discretionary bonuses paid in the preceding two years) in the event of termination following a change in control of the Company.
5.	The Company has an employment agreement with the Vice President - General Counsel & Corporate Secretary of the Company to provide corporate secretarial and legal services to the Company for an indefinite term. The agreement requires a payment of $19,167 per month. The employment agreement provides for a two-year payout totalling approximately $0.7 million (including average discretionary bonuses paid in the preceding two years) in the event of termination without cause and in the event of termination following a change in control of the Company.
6.	Pursuant to various mining leases and agreements, the Company’s estimated exploration and evaluation assets lease obligations, work commitments, and tax levies for the Railroad-Pinion Project for fiscal 2019 are approximately US$2,901,000. See Item 4 “GENERAL DEVELOPMENT OF THE BUSINESS – Mineral Property” and Item 6 “MATERIAL MINERAL PROJECT” of the AIF and the Annual Financial Statements for further details regarding the various lease payments and other obligations required by the Company to maintain the Railroad-Pinion Project in good standing.
7.	The Company’s estimated exploration and evaluation asset obligations and tax levies for fiscal 2019 for the Lewis Gold Project are approximately US$92,000.

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There were no material changes during the year ended December 31, 2018 to the Company’s contractual obligations for the next five years and thereafter as disclosed in the summary table of contractual obligations as follows:

	Payments Due by Period
Contractual Obligations	Total	2019	2020 to	2022 to	After 2023
			2021	2023
	$	$	$	$	$
Office Leases	657,466	215,485	332,845	109,136	-
Consulting Agreements 1, 3	3,045,000	609,000	1,218,000	1,218,000	Ongoing
Employment Agreements 2, 4, 5	3,586,460	717,292	1,434,584	1,434,584	Ongoing
Mining leases and agreements5, 6	14,416,866	3,368,210	6,318,974	4,729,682	Ongoing

(1)	These amounts assume that consulting fees will remain constant at current levels and do not include any amount for discretionary annual bonuses.
(2)	These amounts assume that salaries will remain constant at current levels and do not include any amount for discretionary annual bonuses.
(3)	This amount represents the total fees payable under consulting agreements with officers and directors of the Company over the next five years.
(4)	This amount represents the total salaries payable under employment agreements with certain key employees of the Company over the next five years.
(5)	Where applicable, this amount has been converted from U.S. dollars to Canadian dollars using the noon exchange rate of the Bank of Canada on December 31, 2018 of US$1.00 = C$1.3642.
(6)	Amounts shown for mining leases and agreements include estimates of option payments, mineral lease payments, work commitments and tax levies that are required to maintain the Company’s interest in the Railroad-Pinion Project and the Lewis Gold Project in good standing. See “Overall Performance”.

Related Party Transactions

During the year ended December 31, 2018, the Company engaged in the following transactions with related parties, not disclosed elsewhere in this MD&A:

• Incurred management fees of $592,787 (2017 - $690,800) to a company controlled by Jonathan Awde, a director and Chief Executive Officer of the Company. As at December 31, 2018, $152,787 (2017 - $250,800) was included in accounts payable and accrued liabilities.

• Incurred financial management fees of $208,123 (2017 - $236,802) and professional fees of $266,150 (2017 - $187,000) to a company controlled by Michael Waldkirch, Chief Financial Officer of the Company. As at December 31, 2018, $90,671 (2017 - $232,528) was included in accounts payable and accrued liabilities.

• Incurred administrative management fees of $283,244 (2017 - $202,286) to Glenn Kumoi, Vice President General Counsel and Corporate Secretary of the Company. As at December 31, 2018, $53,244 (2017 - $54,102)was included in accounts payable and accrued liabilities.

• Incurred salary expense of $152,791 (2017 - $397,153), of which $129,872 (2017 - $353,520) was recorded as capitalized exploration and evaluation assets expenditures, to Mac Jackson, the Chief Geologist of the Company.

• Incurred directors fees of $36,000 (2017 - $44,400) to a company controlled by Robert McLeod, a director of the Company.

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• Incurred directors fees of $42,000 (2017 - $42,000) to Bruce McLeod, a director of the Company. As at December 31, 2018, $nil (2017 - $3,500) was included in prepaid expenses for a prepayment related to director fees.

• Incurred directors fees of $42,000 (2017 - $21,300) to William E. Threlkeld, a director of the Company.

• Incurred directors fees of $36,000 (2017 - $36,000) to a company controlled by Jamie Strauss, a director of the Company.

• Incurred directors fees of $42,000 (2017 - $12,600) to Zara Boldt, a director of the Company. As at December 31, 2018, $nil (2017 - $3,500) was included in prepaid expenses for a prepayment related to director fees.

• Incurred directors fees of $42,000 (2017 - $12,600) to Alex Morrison, a director of the Company. As at December 31, 2018, $nil (2017 - $485) was included in accounts payable and accrued liabilities.

• Incurred directors fees of $36,385 (2017 - $nil) to Ron Clayton, a director of the Company.

• Received $18,000 (2017 - $4,500) of rent from Barksdale Capital Corp., a company related by way of common officers.

• On February 22, 2018, OceanaGold, through the February 2018 Financings, purchased 2,680,900 common shares of the Company at a price of $2.05 per share for a total purchase price of $5,495,845. OceanaGold’s participation in the February 2018 Financings constituted a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101”), and the Company relied upon exemptions from the requirement to obtain a formal valuation and seek minority shareholder approval for such participation on the basis that the fair market value of OceanaGold’s participation was less than 25% of the Company’s then market capitalization.

• On September 5, 2018, OceanaGold, through the September 2018 Financing, purchased 975,609 common shares of the Company at a price of $2.05 per share for a total purchase price of $1,999,998. OceanaGold’s participation in the September 2018 Financing constituted a “related party transaction” for the purposes of MI 61-101, and the Company relied upon exemptions from the requirement to obtain a formal valuation and seek minority shareholder approval for such participation on the basis that the fair market value of OceanaGold’s participation was less than 25% of the Company’s then market capitalization. Based on insider reports filed by OceanaGold and available for review at www.sedi.ca, as of March 28, 2019, OceanaGold beneficially owns and/or exercises control or direction over a total of 40,459,161 common shares or approximately 15.56% of the issued and outstanding common shares of the Company. See Item 4.2 “THREE YEAR HISTORY - Financings” in the AIF for a discussion of OceanaGold’s ongoing rights with respect to financings conducted by the Company.

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• On September 5, 2018, Goldcorp, through the September 2018 Financing, purchased 2,926,829 common shares of the Company at a price of $2.05 per share for a total purchase price of $5,999,999. Goldcorp’s participation in the September 2018 Financing constituted a “related party transaction” for the purposes of MI 61-101, and the Company relied upon exemptions from the requirement to obtain a formal valuation and seek minority shareholder approval for such participation on the basis that the fair market value of Goldcorp’s participation was less than 25% of the Company’s then market capitalization. Based on insider reports filed by Goldcorp and available for review at www.sedi.ca, as of March 28, 2019, Goldcorp beneficially owns and/or exercises control or direction over a total of 35,325,291 common shares or approximately 13.58% of the issued and outstanding common shares of the Company. See Item 4.2 “THREE YEAR HISTORY - Financings” in the AIF for a discussion of Goldcorp’s ongoing rights with respect to financings conducted by the Company.

Summary of key management personnel compensation:

	For the year ended December 31,
	2018	2017
	$	$
Management fees	1,360,539	1,750,691
Professional fees	266,150	187,000
Exploration and evaluation assets expenditures	129,872	353,520
Wages and salaries	22,919	43,633
Share-based compensation	2,312,347	2,228,191
	4,091,827	4,563,035

In accordance with International Accounting Standard (“IAS”) 24, key management personnel includes those persons having authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has determined that key management personnel consists of members of the Company’s Board of Directors (the “Board”) and corporate officers, including the Company’s Chief Executive Officer and Chief Financial Officer.

Risks and Uncertainties

The business and operations of the Company are subject to numerous risks, many of which are beyond the Company’s control. The Company considers the risks set out below to be some of the most significant to potential investors in the Company, but not all of the risks are associated with an investment in securities of the Company. If any of these risks materialize into actual events or circumstances or other possible additional risks and uncertainties of which the Company is currently unaware or which it considers to be material in relation to the Company’s business actually occur, the Company’s assets, liabilities, financial condition, results of operations (including future results of operations), business and business prospects, are likely to be materially and adversely affected. In such circumstances, the price of the Company’s securities could decline and investors may lose all or part of their investment.

Mineral exploration is subject to a high degree of risk, which even a combination of experience, knowledge and careful evaluation may fail to overcome. These risks may be even greater in the Company’s case given its formative stage of development and the fact that the Railroad-Pinion Project and the Lewis Gold Project are still in their exploration stage. Furthermore, exploration activities are expensive and seldom result in the discovery of a commercially viable resource. There is no assurance that the Company’s exploration will result in the discovery of an economically viable mineral deposit. The Company has generated losses to date and will require additional funds to further explore its properties. There is no assurance such additional funding will be available to the Company when needed on commercially reasonable terms or at all. Additional equity financing may result in substantial dilution thereby reducing the marketability of the Company’s shares. The Company’s activities are subject to the risks normally encountered in the mining exploration business. The

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economics of exploring, developing and operating resource properties are affected by many factors including the cost of exploration and development operations, variations of the grade of any ore mined and the rate of resource extraction and fluctuations in the price of resources produced, government regulations relating to royalties, taxes and environmental protection and title defects and the ability to maintain and extend leases on favourable terms. For the most part, the Railroad-Pinion Project and the Lewis Gold Project have not been surveyed and may be subject to prior unregistered agreements, interests or land claims and title may be affected by undetected defects. In addition, the Company may become subject to liability for hazards against which it is not insured. The mining industry is highly competitive in all its phases and the Company competes with other mining companies, many with greater financial and technical resources, in the search for, and the acquisition of, mineral resource properties, in the marketing of minerals and the search for experienced personnel. Additional risks include the limited market for the Company’s securities and the present intention of the Company not to pay dividends. Certain of the Company’s directors and officers also serve as directors or officers of other public and private resource companies, and to the extent that such other companies may participate in ventures in which the Company may participate, such directors and officers of the Company may have a conflict of interest.

The Company may lose its foreign private issuer status in the future, which could result in significant additional costs and expenses.

The Company is a foreign private issuer under applicable U.S. federal securities laws and, therefore, is not required to comply with all the periodic disclosure and current reporting requirements of the United States Securities and Exchange Act of 1934 (the “U.S. Exchange Act”). As a result, the Company does not file the same reports that a U.S. domestic issuer files with the SEC, although the Company is required to file with or furnish to the SEC the continuous disclosure documents that the Company is required to file in Canada under Canadian securities laws. Further, the Company’s officers, directors and principal shareholders are exempt from the reporting and “short swing” profit recovery rules of Section 16 of the U.S. Exchange Act. In addition, as a foreign private issuer, the Company is exempt from the proxy rules under the U.S. Exchange Act.

The Company could in the future lose its foreign private issuer status if a majority of its common shares are held by residents in the United States and it fails to continue to meet any one of the additional “business contacts” requirements. If the Company loses its status as a foreign private issuer measured on the last day of its second fiscal quarter (i.e., June 30), it would commence reporting on January 1 of the following year on forms required of U.S. companies, such as Forms 10-K, 10-Q and 8-K. These forms require more detailed and extensive disclosure than the disclosure required by the forms available to a foreign private issuer. The regulatory and compliance costs under U.S. federal securities laws as a U.S. domestic issuer, together with attendant management costs, may be significantly more than the costs incurred as a Canadian foreign private issuer eligible to use not only the disclosure system for foreign private issuers but also the multi-jurisdictional disclosure system (“MJDS”) implemented by the SEC and the securities regulatory authorities in Canada. Further, to the extent that the Company was to offer or sell its securities outside of the United States, the Company would have to comply with the more restrictive Regulation S requirements that apply to U.S. issuers and would no longer be able to use the MJDS forms for registered offerings by Canadian companies in the United States. This could limit the Company’s ability to access the capital markets in the future. In addition, the Company may lose the ability to rely upon certain exemptions from corporate governance requirements that are available to foreign private issuers. The Company would regain the foreign private issuer status upon re-meeting the eligibility requirements on the last day of its next second fiscal quarter.

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The Company may be a “passive foreign investment company” for U.S. tax purposes which could subject U.S. shareholders to increased tax liability.

The Company believes that it was a passive foreign investment company for the taxation year ended December 31, 2018 and expects to be a passive foreign investment company for the taxation year ending December 31, 2019. The Company will be providing Qualified Electing Fund information. As a result, a U.S. holder of common shares could be subject to increased tax liability, possibly including an interest charge, upon the sale or other disposition of the United States holder’s common shares or upon the receipt of “excess distributions”. U.S. holders should consult with tax advisers with regard to their holdings of the Company’s shares.

Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive.

For a more detailed discussion of the risk factors affecting the Company and its exploration activities, please refer to the AIF which can be accessed on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Critical Accounting Estimates

The preparation of the Financial Statements in conformity with IFRS requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities, as well as the reported revenues and expenses during the reporting period. Based on historical experience and current conditions, management makes assumptions that are believed to be reasonable under the circumstances. These estimates and assumptions form the basis for judgments about the carrying value of assets and liabilities and reported amounts for revenues and expenses. Different assumptions would result in different estimates, and actual results may differ from results based on these estimates. These estimates and assumptions are also affected by management’s application of accounting policies. Critical accounting estimates are those that affect the Financial Statements materially and involve a significant level of judgment by management.

Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates.

The most significant accounts that require estimates and judgements as the basis for determining the stated amounts include the recoverability of exploration and evaluation assets, determination of functional currency, valuation of the acquisition of an associated company, valuation of share-based compensation, recognition of deferred tax amounts and reclamation provisions.

Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the Financial Statements are as follows:

Economic recoverability and probability of future economic benefits of exploration and evaluation assets

Management has determined that exploration, evaluation, and related costs incurred which were capitalized may have future economic benefits and may be economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including, geologic and other technical information, a history of conversion of mineral deposits with similar characteristics to its own properties to proven and probable mineral reserves, the quality and capacity of existing infrastructure facilities, evaluation of permitting and environmental issues and local support for the project.

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Determination of functional currency

The Company determines the functional currency through an analysis of several indicators such as expenses and cash flow, financing activities, retention of operating cash flows, and frequency of transactions within the reporting entity.

Valuation of the acquisition of an associated company

The Company acquired a publicly traded associated company in June 2017. The process for determining whether the acquisition was an asset purchase versus a business acquisition was performed and primary consideration was given to the exploration stage of mineral properties, among other items. Shares issued for the acquisition were valued on the issue date and the excess of overall acquisition costs over net assets acquired was attributed to the mineral properties acquired.

Prior to June 2017, the Company held an investment in the associated company. To value the investment, management obtained financial information from the majority owner and adjusted the carrying value of the investment. The investment was subject to all estimates included in the financial information from the majority owner as well as estimates of impairment losses.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustments are as follows:

Valuation of share-based compensation

The Company uses the Black-Scholes option pricing model for valuation of share-based compensation. Option pricing models require the input of subjective assumptions including expected price volatility, risk-free interest rate, and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves.

Income taxes

In assessing the probability of realizing income tax assets, management makes estimates related to expectation of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.

Reclamation provisions

The Company’s reclamation provision represents management’s best estimate of the present value of the future cash outflows required to settle the obligation. Management assesses these provisions on an annual basis or when new information becomes available. This assessment includes the estimation of the future reclamation costs, the timing of these expenditures, inflation, and the impact of changes in discount rates, interest rates and foreign exchange rates. The actual future expenditures may differ from the amounts currently provided if the estimates made are significantly different than actual results or if there are significant changes in environmental and/or regulatory requirements in the future.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 30 -

Changes in Accounting Policies including Initial Adoption

There were no changes to the Company’s accounting policies during the year ended December 31, 2018, except for the following:

Financial instruments

The Company adopted all of the requirements of IFRS 9 – Financial Instruments (“IFRS 9”) as of January 1, 2018. IFRS 9 replaces IAS 39 – Financial Instruments: Recognition and Measurement (“IAS 39”). IFRS 9 utilizes a revised model for recognition and measurement of financial instruments and a single, forward-looking “expected loss” impairment model. Most of the requirements in IAS 39 for classification and measurement of financial liabilities were carried forward in IFRS 9, so the Company’s accounting policy with respect to financial liabilities is unchanged. As a result of the adoption of IFRS 9, management has changed its accounting policy for financial assets retrospectively, for assets that continued to be recognized at the date of initial application. The change did not impact the carrying value of any financial assets or financial liabilities on the transition date.

The following is the Company’s new accounting policy for financial instruments under IFRS 9:

Financial assets

On initial recognition, financial assets are recognized at fair value and are subsequently classified and measured at: (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) fair value through profit or loss (“FVTPL”). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at fair value net of transaction costs that are directly attributable to its acquisition except for financial assets at FVTPL where transaction costs are expensed. All financial assets not classified and measured at amortized cost or FVOCI are classified as FVTPL. On initial recognition of an equity instrument that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income/loss.

The classification determines the method by which the financial assets are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Receivables and reclamation bonds are measured at amortized cost with subsequent impairments recognized in profit or loss. Cash and investments are classified as FVTPL.

Impairment

An ‘expected credit loss’ impairment model applies which requires a loss allowance to be recognized based on expected credit losses. The estimated present value of future cash flows associated with the asset is determined and an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the carrying amount of the asset is reduced to estimated present value of the future cash flows associated with the asset, discounted at the financial asset’s original effective interest rate, either directly or through the use of an allowance account and the resulting loss is recognized in profit or loss for the period.

In a subsequent period, if the amount of the impairment loss related to financial assets measured at amortized cost decreases, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 31 -

Financial liabilities

Financial liabilities are designated as either: (i) fair value through profit or loss; or (ii) amortized cost. All financial liabilities are classified and subsequently measured at amortized cost except for financial liabilities at FVTPL. The classification determines the method by which the financial liabilities are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Accounts payable and accrued liabilities are classified as other financial liabilities and carried on the statement of financial position at amortized cost.

As at December 31, 2018, the Company does not have any derivative financial liabilities.

Standards issued or amended but not yet effective

The following new standards, amendments to standards and interpretations applicable to the Company are not yet effective for the year ended December 31, 2018 and have not been applied in preparing the Financial Statements. These standards are as follows:

• IFRS 16 – Leases: On January 13, 2016, the IASB issued the final version of IFRS 16 Leases (“IFRS 16”). The new standard will replace IAS 17 Leases and is effective for annual periods beginning on or after January 1, 2019. IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee. Instead, all leases are treated in a similar way to finance leases applying IAS 17. IFRS 16 does not require a lessee to recognize assets and liabilities for short- term leases (i.e. leases of 12 months or less) and leases of low-value assets.

The Company applied IFRS 16 effective January 1, 2019 using the modified retrospective method. Under this method, financial information will not be restated and will continue to be reported under the accounting standards in effect for those periods. The Company will recognize lease obligations related to its lease commitments for its office leases. It will be measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate as at January 1, 2019. The associated right of use asset will be measured at the lease obligation amount, less prepaid lease payments, resulting in no adjustment to the opening balance of deficit. The Company has implemented the following accounting policies permitted under the new standard:

• leases of low dollar value will continue to be expensed as incurred; and

• the Company will not apply any grandfathering practical expedients.

As at January 1, 2019 the Company recognized approximately $517,000 in right-of-use assets and $517,000 of incremental lease obligations.

• IFRIC 23 – Uncertainty Over Income Tax Treatments: clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. It is effective for annual periods beginning on or after January 1, 2019 with early adoption permitted. The Company does not expect that the adoption of this standard will have a material effect on the Financial Statements.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 32 -

Financial Instruments and Risk Management

Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are:

• Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and

• Level 3 – Inputs that are not based on observable market data.

The Company’s financial instruments consist of cash, receivables, investments, reclamation bonds, and accounts payable and accrued liabilities. The fair value of these financial instruments, other than cash, approximates their carrying values due to the short-term nature of these instruments. Cash and investments are measured at fair value using level 1 inputs.

The Company is exposed to a variety of financial risks by virtue of its activities including currency, credit, interest rate, liquidity, commodity price and equity price risk.

1. Currency risk

The Company conducts exploration and evaluation activities in the United States. As such, it is subject to risk due to fluctuations in the exchange rates for the Canadian and U.S. dollars. As at December 31, 2018, the Company had a foreign currency net monetary asset position of approximately US$5,760,000. Each 1% change in the U.S. dollar relative to the Canadian dollar will result in a foreign exchange gain/loss of approximately $57,600.

2. Credit risk

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations. The Company’s cash is held in large Canadian and U.S. financial institutions and is not exposed to significant credit risk.

3. Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to limited interest rate risk as it only holds cash and highly liquid short-term investments.

4. Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its obligations as they come due. The Company’s ability to continue as a going concern is dependent on management’s ability to raise the required capital through future equity or debt issuances. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board are actively involved in the review, planning, and approval of significant expenditures and commitments.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 33 -

5. Commodity price risk

The ability of the Company to explore and develop its exploration and evaluation assets and the future profitability of the Company are directly related to the price of gold. The Company monitors gold prices to determine the appropriate course of action to be taken.

Disclosure of Data for Outstanding Common Shares, Restricted Share Units, Options and Warrants

As at March 28, 2019, the Company has 260,042,886 outstanding common shares, 1,118,632 restricted share units and no outstanding warrants. A summary of the stock options outstanding and exercisable as at the date of this MD&A is as follows:

Exercise	Number	Number
Price	Outstanding	Exercisable	Expiry Date
$
0.77	685,000	685,000	September 12, 2019
0.73	2,125,000	2,125,000	November 27, 2020
3.16	507,500	507,500	September 29, 2021
2.24	325,000	325,000	June 1, 2022
2.12	2,230,540	2,230,540	August 1, 2022
2.25	600,000	400,000	September 12, 2022
1.96	100,000	66,666	January 15, 2023
2.11	2,314,256	1,542,837	March 5, 2023
2.11	100,000	33,333	April 27, 2023
1.96	160,000	53,333	September 14, 2023
1.74	1,821,424	607,141	January 31, 2024
1.49	50,000	16,666	March 15, 2024
	11,018,720	8,593,016

Corporate Governance

The Board substantially follows the recommended corporate governance guidelines for public companies under applicable Canadian securities legislation and the rules of the NYSE American LLC to ensure transparency and accountability to shareholders. The current Board is comprised of 8 individuals, 7 of whom are neither executive officers nor employees of the Company and are independent of management. The Company has also established five standing committees, being the audit committee, compensation committee, health, safety and environment committee, nominating and corporate governance committee and technical committee. The Company’s audit, compensation and corporate governance and nomination committees are each comprised of 3 directors, all of whom are independent of management. The Company’s technical committee is comprised of a director, who is independent of management, the Chief Geologist, the General Manager and a representative of OceanaGold. The Company’s health, safety and environmental committee is comprised of 2 directors, who are independent of management, the Vice President - General Counsel & Corporate Secretary and the Company’s Manager of Projects.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 34 -

Management’s Annual Report on Internal Control over Financial Reporting

National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (“NI 52-109”) of the Canadian Securities Administrators requires the Company to issue concurrently with the filing of its annual and interim filings a “Certification of Annual Filings” and “Certification of Interim Filings”, respectively (each, a “Certification”). Each Certification requires the Company’s Chief Executive Officer and Chief Financial Officer (together, the “Certifying Officers”) to state that they are responsible for establishing and maintaining Disclosure Controls and Procedures (“DC&P”) and Internal Control Over Financial Reporting (“ICFR”), as defined in NI 52-109.

Each Certification requires the Certifying Officers to state that they designed DC&P, or caused it to be designed under their supervision, to provide reasonable assurance that: (i) material information relating to the Company is made known to the Certifying Officers by others; and (ii) information required to be disclosed by the Company in reports filed with, or submitted to, securities regulatory authorities is recorded, processed, summarized and reported within the time periods specified under Canadian securities legislation. In addition, the Certification requires the Certifying Officers to state that they have designed ICFR, or caused it to be designed under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes.

In designing the Company’s ICFR, the Company has adopted the “Internal Control – Integrated Framework” issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013). However, due to the inherent limitations in any control system, ICFR may not prevent or detect all misstatements and no evaluation of controls can provide absolute assurance that DC&P will detect or uncover every situation involving the failure of persons to disclose material information otherwise required to be set forth in periodic reports. Also projections of any evaluation of effectiveness to future periods are subject to risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. The Company’s ICFR and DC&P are designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes and that material information relating to the Company is made known to the Certifying Officers by others and that the requisite information is recorded, processed, summarized and reported within the time periods specified under Canadian securities legislation.

The Company’s Certifying Officers evaluated, or caused to be evaluated under their supervision, the effectiveness of the Company’s DC&P and ICFR as at December 31, 2018 and concluded, based on such evaluation, that there were no material weaknesses or significant deficiencies in the design or effectiveness of the Company’s DC&P and ICFR at that time.

There have been no changes in the Company’s ICFR that occurred during the year ended December 31, 2018 that have materially affected, or are reasonably likely to materially affect, the Company’s ICFR.

In the past, the Company has relied on the U.S. Jumpstart Our Business Startups (JOBS) Act, whereby the Company was not required to be fully compliant with Sarbanes-Oxley (“SOX”). Effective for the year ended December 31, 2018, the Company was required to be fully compliant with SOX. The Company is required to document and test its internal control procedures in order to satisfy the requirements of Section 404 of SOX, which requires annual management assessments and auditors’ attestation of the effectiveness of the Company’s internal control over financial reporting. As at December 31, 2018, the Company’s auditors expressed an unqualified opinion that the Company maintained, in all material respects, effective internal control over financial reporting, based on the Committee of Sponsoring Organizations of the Treadway Commission criteria.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 35 -

Other MD&A Requirements

Additional information relating to the Company may be found on SEDAR at www.sedar.com and EDGAR at www.sec.gov including, but not limited to:

• the Company’s AIF dated March 28, 2019 for the year ended December 31, 2018; and

• the Company’s audited consolidated Financial Statements for the year ended December 31, 2018.

This MD&A has been approved by the Board effective March 28, 2019.

Gold Standard Ventures Corp. – Management Discussion and Analysis Page - 36 -

EX-99.4

Exhibit 99.4

Certification Pursuant to Section 302
of the Sarbanes-Oxley Act of 2002

I, Jonathan T. Awde, certify that:

1.	I have reviewed this annual report on Form 40-F of Gold Standard Ventures Corp.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;
4.	The issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the issuer and have:
	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d)	Disclosed in this report any change in the issuer’s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting; and
5.	The issuer’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the issuer’s auditors and the audit committee of the issuer’s board of directors (or persons performing the equivalent functions):
	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer’s ability to record, process, summarize and report financial information; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the issuer’s internal control over financial reporting.

Date: March 28, 2019

By:	/s/ Jonathan T. Awde
	Jonathan T. Awde
	President and Chief Executive Officer

EX-99.5

Exhibit 99.5

Certification Pursuant to Section 302
of the Sarbanes-Oxley Act of 2002

I, Michael N. Waldkirch, certify that:

1.	I have reviewed this annual report on Form 40-F of Gold Standard Ventures Corp.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;
4.	The issuer’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the issuer and have:
	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the issuer’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d)	Disclosed in this report any change in the issuer’s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the issuer’s internal control over financial reporting; and
5.	The issuer’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the issuer’s auditors and the audit committee of the issuer’s board of directors (or persons performing the equivalent functions):
	a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer’s ability to record, process, summarize and report financial information; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the issuer’s internal control over financial reporting.

Date: March 28, 2019

By:	/s/ Michael N. Waldkirch
	Michael N. Waldkirch
	Chief Financial Officer

EX-99.6

Exhibit 99.6

Section 906 Certification

Certification Pursuant to
18 U.S.C. Section 1350

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report on Form 40-F of Gold Standard Ventures Corp., a British Columbia corporation (the “Company”), for the period ending December 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned officer of the Company certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: March 28, 2019	/s/ Jonathan T. Awde
	Jonathan T. Awde
	President and Chief Executive Officer

EX-99.7

Exhibit 99.7

Section 906 Certification

Certification Pursuant to
18 U.S.C. Section 1350

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report on Form 40-F of Gold Standard Ventures Corp., a British Columbia corporation (the “Company”), for the period ending December 31, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned officer of the Company certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.	The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: March 28, 2019	/s/ Michael N. Waldkirch
	Michael N. Waldkirch
	Chief Financial Officer

EX-99.9

Exhibit 99.9

CONSENT OF MICHAEL B. DUFRESNE

The undersigned hereby consents to the references to, and the information derived from, the amended and restated technical report with an effective date of September 15, 2017 on the Railroad - Pinion Project in Elko County, Nevada, USA, entitled “Technical Report Maiden Resource Estimate North Bullion and Railroad Project, Elko County, Nevada, USA – Amended and Restated”, and to the references, as applicable, to the undersigned's name included in or incorporated by reference in the Annual Report on Form 40-F being filed by Gold Standard Ventures Corp., dated March 28, 2019, and the registration statements on Form S-8 (No. 333-225533) and on Form F-10 (No. 333-225539) of Gold Standard Ventures Corp.

Dated: March 28, 2019	/s/ Michael B. Dufresne
	Michael B. Dufresne, M.Sc., P. Geol., P.Geo

EX-99.10

Exhibit 99.10

CONSENT OF STEVEN J. NICHOLLS

The undersigned hereby consents to the references to, and the information derived from, the amended and restated technical report with an effective date of September 15, 2017 on the Railroad - Pinion Project in Elko County, Nevada, USA, entitled “Technical Report Maiden Resource Estimate North Bullion and Railroad Project, Elko County, Nevada, USA – Amended and Restated”, and to the references, as applicable, to the undersigned's name included in or incorporated by reference in the Annual Report on Form 40-F being filed by Gold Standard Ventures Corp., dated March 28, 2019, and the registration statements on Form S-8 (No. 333-225533) and on Form F-10 (No. 333-225539) of Gold Standard Ventures Corp.

Dated: March 28, 2019	/s/ Steven J. Nicholls
	Steven J. Nicholls, BA.Sc., MAIG

XML

Document and Entity Information	12 Months Ended
	Dec. 31, 2018 shares
Document And Entity Information
Entity Registrant Name	Gold Standard Ventures Corp.
Entity Central Index Key	0001321847
Document Type	40-F
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current?	Yes
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	259,809,678
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018

XML

Consolidated Statements of Financial Position - CAD ($)	Dec. 31, 2018	Dec. 31, 2017
Current
Cash (Note 3)	$ 18,333,732	$ 18,458,791
Receivables	34,692	66,544
Prepaid expenses (Note 4)	489,902	319,603
Investments (Note 5)		309,035
Total current assets	18,858,326	19,153,973
Exploration and evaluation assets (Note 7)	196,666,709	154,435,875
Reclamation bonds (Note 8)	2,154,027	1,248,817
Property and equipment (Note 9)	455,422	408,363
Total assets	218,134,484	175,247,028
Current
Accounts payable and accrued liabilities (Notes 10 and 14)	1,950,222	1,642,099
Provision for site reclamation (Note 11)	1,004,499
Total Liabilities	2,954,721	1,642,099
Shareholders' equity
Share capital (Note 12)	270,513,901	220,941,105
Reserves (Note 12)	8,522,564	6,505,922
Deficit	(63,856,702)	(53,842,098)
Total shareholders' equity	215,179,763	173,604,929
Total liabilities and shareholders' equity	$ 218,134,484	$ 175,247,028

XML

Consolidated Statements of Loss and Comprehensive Loss - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Expenses
Accretion expense (Note 11)	$ 2,138
Community relations	104,887	94,149
Consulting fees	991,491	555,765
Depreciation (Note 9)	178,181	45,018
Foreign exchange loss (gain)	(720,850)	741,336
Insurance	415,408	397,822
Investor relations	180,378	417,089
Management fees (Note 14)	1,360,539	1,750,691
Office	559,599	487,066
Professional fees (Note 14)	1,371,574	997,809
Property investigation	73,194	144,136
Regulatory and shareholders service	418,343	646,330
Rent	281,480	289,048
Share-based compensation (Notes 12 and 14)	3,882,026	3,136,225
Travel and related	856,107	838,453
Wages and salaries (Note 14)	593,241	390,694
Total expense	(10,547,736)	(10,931,631)
Equity loss in associated company (Note 6)		(807,455)
Gain (loss) on investments (Note 5)	(88,332)	8,457
Interest income	397,158	303,843
Loss and comprehensive loss for the year	$ (10,238,910)	$ (11,426,786)
Basic and diluted loss per share	$ (0.04)	$ (0.05)
Weighted average number of common shares outstanding (basic and diluted)	253,212,703	228,376,609

XML

Consolidated Statements of Cash Flows - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows used in operating activities
Loss for the year	$ (10,238,910)	$ (11,426,786)
Items not affecting cash:
Depreciation	178,181	45,018
Share-based compensation	3,882,026	3,136,225
Accretion expense	2,138
Loss (gain) on investments	88,332	(8,457)
Unrealized foreign exchange	(89,983)	74,811
Equity loss in associated company		807,455
Changes in non-cash working capital items
Decrease in receivables	31,852	214,447
(Increase) decrease in prepaid expenses	(170,299)	24,885
Decrease in accounts payable and accrued liabilities	(420,622)	(1,024,870)
Net cash provided by operating activities	(6,737,285)	(8,157,272)
Cash flows used in investing activities
Reclamation bonds	(758,876)	(312,760)
Investments		(300,000)
Proceeds from sale of investments	220,703
Acquisition of property and equipment	(225,240)	(433,367)
Cash acquired on acquisition		1,355,706
Exploration and evaluation assets expenditures	(40,556,079)	(29,028,960)
Net cash provided by investing activities	(41,319,492)	(28,719,381)
Cash flows from financing activities
Proceeds from share issuances	48,907,549
Share issuance costs	(3,089,463)	(772,910)
Proceeds from exercise of warrants		251,505
Proceeds from exercise of stock options	2,113,632	2,245,788
Net cash provided by financing activities	47,931,718	1,724,383
Net change in cash	(125,059)	(35,152,270)
Cash, beginning of year	18,458,791	53,611,061
Cash, end of year	$ 18,333,732	$ 18,458,791

XML

Consolidated Statements of Changes in Shareholders Equity - CAD ($)	Shares Capital [Member]	Reserves [Member]	Deficit [Member]	Total
Balance at Dec. 31, 2016	$ 191,358,298	$ 5,310,291	$ (42,826,554)	$ 153,842,035
Balance share at Dec. 31, 2016	221,516,735
Statement Line Items [Line Items]
Stock options exercised	$ 4,028,057	(1,782,269)		2,245,788
Stock options exercised, shares	2,448,916
Shares issued pursuant to the arrangement	$ 24,970,694			24,970,694
Shares issued pursuant to the arrangement, shares	9,352,320
Warrants exercised	$ 584,056	(332,551)		251,505
Warrants exercised, shares	218,700
Issuance of replacement stock options and warrants		576,506		576,506
Adjustment in investment in associated company		(218,874)	227,836	8,962
Stock options expired		(183,406)	183,406
Share-based compensation		3,136,225		3,136,225
Net loss for the year			(11,426,786)	(11,426,786)
Balance at Dec. 31, 2017	$ 220,941,105	6,505,922	(53,842,098)	173,604,929
Balance share at Dec. 31, 2017	233,536,671
Statement Line Items [Line Items]
Shares issued for cash	$ 48,907,549			48,907,549
Shares issued for cash, shares	23,857,341
Share issuance costs	$ (3,089,463)			(3,089,463)
Stock options exercised	$ 3,754,710	(1,641,078)		2,113,632
Stock options exercised, shares	2,415,666
Stock options expired		(214,387)	214,387
Stock options cancelled		(9,919)	9,919
Share-based compensation		3,882,026		3,882,026
Net loss for the year			(10,238,910)	(10,238,910)
Balance at Dec. 31, 2018	$ 270,513,901	$ 8,522,564	$ (63,856,702)	$ 215,179,763
Balance share at Dec. 31, 2018	259,809,678

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Nature and Continuance of Operations

12 Months Ended

Dec. 31, 2018

Disclosure of Nature and Continuance of Operations [Abstract]

Nature and Continuance of Operations

NOTE 1 - Nature and Continuance of Operations

Gold Standard Ventures Corp. (the “Company”) was incorporated on February 6, 2004 under the Business Corporations Act (British Columbia) and is listed for trading on the Toronto Stock Exchange (“TSX”) under the symbol “GSV” and on the NYSE American LLC under the symbol “GSV”.

The Company’s head office, principal address and registered and records office is located at Suite 610 – 815 West Hastings Street, Vancouver, British Columbia, Canada, V6C 1B4.

The Company’s exploration and evaluation assets are at the exploration stage and are without a known body of commercial ore. The business of exploring for minerals involves a high degree of risk. Few properties that are explored are ultimately developed into producing mines. Major expenditures may be required to establish ore reserves, to develop metallurgical processes, to acquire construction and operating permits and to construct mining and processing facilities. The amounts shown as exploration and evaluation assets cost represent acquisition, holding and deferred exploration costs and do not necessarily represent present or future recoverable values. The recoverability of the amounts shown for exploration and evaluation assets cost is dependent upon the Company obtaining the necessary financing to complete the exploration and development of the properties, the discovery of economically recoverable reserves and future profitable operations or through sale of the assets.

These consolidated financial statements have been prepared on the assumption that the Company and its subsidiaries will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. As at December 31, 2018, the Company had not advanced its properties to commercial production and is not able to finance day to day activities through operations. The Company’s continuation as a going concern is dependent upon the successful results from its exploration activities and its ability to attain profitable operations and generate funds therefrom and/or raise equity capital or borrowings sufficient to meet current and future obligations. The Company estimates it has sufficient working capital to continue operations for the upcoming year.

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Significant Accounting Policies and Basis of Preparation

12 Months Ended

Dec. 31, 2018

Disclosure of Significant Accounting Policies and Basis of Preparation [Abstract]

Significant Accounting Policies and Basis of Preparation

NOTE 2 - Significant Accounting Policies and Basis of Preparation

The following is a summary of significant accounting policies used in the preparation of these consolidated financial statements.

Statement of compliance
These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and Interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”).

Basis of presentation
These consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, except for investments which are measured at fair value. The consolidated financial statements are presented in Canadian dollars unless otherwise noted.

Basis of consolidation
These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JKR Gold Resources ULC, JKR Gold Resources (USA) Inc., JMD Exploration Corp., Gold Standard Ventures (US) Inc., Tacoma Exploration LLC, Battle Mountain Gold Inc., Battle Mountain Gold (USA) Inc., and Madison Enterprises (Nevada) Inc., from their dates of formation or acquisition. The Company’s Canadian subsidiaries are holding companies while its US subsidiaries are operating companies. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation. During the year ended December 31, 2017, the Company wound up JKR Gold Resources (USA) Inc. and JMD Exploration Corp. In addition, the Company merged Battle Mountain Gold (USA) Inc. and Madison Enterprises (Nevada) Inc., with the merged entity being named Madison Enterprises (Nevada) Inc.

Foreign currency translation
The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company and each of its subsidiaries is the Canadian dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS 21 – The Effects of Changes in Foreign Exchange Rates.

Transactions in currencies other than Canadian dollars are recorded at exchange rates prevailing on the dates of the transactions. At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated at the period end exchange rate while non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Exchange gains and losses arising on translation are included in profit or loss.

Use of estimates
The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the period.

Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates.

The most significant accounts that require estimates and judgements as the basis for determining the stated amounts include the recoverability of exploration and evaluation assets, determination of functional currency, valuation of the acquisition of an associated company, valuation of share-based compensation, recognition of deferred tax amounts and reclamation provisions.

Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are as follows:

Economic recoverability and probability of future economic benefits of exploration and evaluation assets

Management has determined that exploration, evaluation, and related costs incurred which were capitalized may have future economic benefits and may be economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including, geologic and other technical information, a history of conversion of mineral deposits with similar characteristics to its own properties to proven and probable mineral reserves, the quality and capacity of existing infrastructure facilities, evaluation of permitting and environmental issues and local support for the project.

Determination of functional currency

The Company determines the functional currency through an analysis of several indicators such as expenses and cash flow, financing activities, retention of operating cash flows, and frequency of transactions within the reporting entity.

Valuation of the acquisition of an associated company

The Company acquired a publicly-traded associated company in June 2017. The process for determining whether the acquisition was an asset purchase versus a business acquisition was performed and primary consideration was given to the exploration stage of mineral properties, among other items. Shares issued for the acquisition were valued on the issue date and the excess of overall acquisition costs over net assets acquired was attributed to the mineral properties acquired.

Prior to June 2017, the Company held an investment in the associated company. To value the investment, management obtained financial information from the majority owner and adjusted the carrying value of the investment. The investment was subject to all estimates included in the financial information from the majority owner as well as estimates of impairment losses.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustments are as follows:

Valuation of share-based compensation

The Company uses the Black-Scholes option pricing model for valuation of share-based compensation. Option pricing models require the input of subjective assumptions including expected price volatility, risk-free interest rate, and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves.

Income taxes

In assessing the probability of realizing income tax assets, management makes estimates related to expectation of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.

Reclamation provisions

The Company’s reclamation provision represents management’s best estimate of the present value of the future cash outflows required to settle the obligation. Management assesses these provisions on an annual basis or when new information becomes available. This assessment includes the estimation of the future reclamation costs, the timing of these expenditures, inflation, and the impact of changes in discount rates, interest rates and foreign exchange rates. The actual future expenditures may differ from the amounts currently provided if the estimates made are significantly different than actual results or if there are significant changes in environmental and/or regulatory requirements in the future.

Financial instruments
The Company adopted all of the requirements of IFRS 9 – Financial Instruments (“IFRS 9”) as of January 1, 2018. IFRS 9 replaces IAS 39 – Financial Instruments: Recognition and Measurement (“IAS 39”). IFRS 9 utilizes a revised model for recognition and measurement of financial instruments and a single, forward-looking “expected loss” impairment model. Most of the requirements in IAS 39 for classification and measurement of financial liabilities were carried forward in IFRS 9, so the Company’s accounting policy with respect to financial liabilities is unchanged. As a result of the adoption of IFRS 9, management has changed its accounting policy for financial assets retrospectively, for assets that continued to be recognized at the date of initial application. The change did not impact the carrying value of any financial assets or financial liabilities on the transition date.

The following is the Company’s new accounting policy for financial instruments under IFRS 9:

Financial assets

On initial recognition, financial assets are recognized at fair value and are subsequently classified and measured at: (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) fair value through profit or loss (“FVTPL”). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at fair value net of transaction costs that are directly attributable to its acquisition except for financial assets at FVTPL where transaction costs are expensed. All financial assets not classified and measured at amortized cost or FVOCI are classified as FVTPL. On initial recognition of an equity instrument that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income/loss.

The classification determines the method by which the financial assets are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Receivables and reclamation bonds are measured at amortized cost with subsequent impairments recognized in profit or loss. Cash and investments are classified as FVTPL.

Impairment

An ‘expected credit loss’ impairment model applies which requires a loss allowance to be recognized based on expected credit losses. The estimated present value of future cash flows associated with the asset is determined and an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the carrying amount of the asset is reduced to estimated present value of the future cash flows associated with the asset, discounted at the financial asset’s original effective interest rate, either directly or through the use of an allowance account and the resulting loss is recognized in profit or loss for the period.

In a subsequent period, if the amount of the impairment loss related to financial assets measured at amortized cost decreases, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized.

Financial liabilities

Financial liabilities are designated as either: (i) fair value through profit or loss; or (ii) amortized cost. All financial liabilities are classified and subsequently measured at amortized cost except for financial liabilities at FVTPL. The classification determines the method by which the financial liabilities are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Accounts payable and accrued liabilities are classified as other financial liabilities and carried on the statement of financial position at amortized cost.

As at December 31, 2018, the Company does not have any derivative financial liabilities.

Exploration and evaluation assets
Costs incurred on mineral resource properties before the Company has acquired the right to explore those properties are expensed as incurred.

Costs directly related to the acquisition and exploration of exploration and evaluation assets are capitalized once the legal rights to explore the exploration and evaluation assets are acquired or obtained. When the technical and commercial viability of a mineral resource has been demonstrated and a development decision has been made, the capitalized costs of the related property are first tested for impairment, then transferred to mining assets and depreciated using the units of production method on commencement of commercial production.

If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined an impairment in value, the property is written down to its recoverable amount. Exploration and evaluation assets are reviewed for impairment when facts and circumstances suggest that the carrying amount may exceed its recoverable amount.

Restoration and environmental obligations
The Company recognizes liabilities for statutory, contractual, constructive or legal obligations associated with the retirement of long-term assets, when those obligations result from the acquisition, construction, development or normal operation of the assets. The net present value of future restoration cost estimates arising from the decommissioning of plant and other site preparation work is capitalized to exploration and evaluation assets along with a corresponding increase in the restoration provision in the period incurred. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. The restoration asset will be depreciated on the same basis as the related assets.

Restoration and environmental obligations (continued)
The Company’s estimates of restoration costs could change as a result of changes in regulatory requirements, discount rates and assumptions regarding the amount and timing of the future expenditures. These changes are recorded directly to the related asset with a corresponding entry to the restoration provision. The Company’s estimates are reviewed annually for changes in regulatory requirements, discount rates, effects of inflation and changes in estimates.

Changes in the net present value, excluding changes in amount and timing of the Company’s estimates of reclamation costs, are charged to profit or loss for the period.

The net present value of restoration costs arising from subsequent site damage that is incurred on an ongoing basis during production are charged to profit or loss in the period incurred.

Share-based compensation
The Company operates an employee stock option plan and a restricted share unit award plan. Share-based compensation to employees is measured at the fair value of the instruments issued and amortized over the vesting periods. Share-based compensation to non-employees is measured at the fair value of goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. The corresponding amount is recorded to reserves. The fair value of options is determined using the Black–Scholes pricing model which incorporates all market vesting conditions and the fair value of restricted share units is determined using the fair value on grant date. The number of shares and options expected to vest is reviewed and adjusted at the end of each reporting period such that the amount recognized for services received as consideration for the equity instruments granted shall be based on the number of equity instruments that eventually vest. When vested options are forfeited or are not exercised at the expiry date, the amount previously recognized in share-based compensation is transferred to deficit.

Property and equipment
Property and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any replaced parts is derecognized. All other repairs and maintenance are charged to profit or loss during the fiscal period in which they are incurred.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognized in profit or loss.

Depreciation is calculated using a straight-line method to write off the cost of the assets. The depreciation rates applicable to each category of property and equipment are as follows:

Asset	Basis	Period and Rate
Computers	Declining-balance	55%
Leasehold Improvements	Straight-line	Remaining lease term

Income taxes
Current income tax:
Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the country where the Company operates and generates taxable income.

Current income tax relating to items recognized directly in other comprehensive income (loss) or equity is recognized in other comprehensive income (loss) or equity and not in profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred income tax:
Deferred income tax is provided for, based on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.

Impairment of non-financial assets
The carrying amount of the Company’s assets (which includes property and equipment and exploration and evaluation assets) is reviewed at each reporting date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. An impairment loss is recognized whenever the carrying amount of an asset or its cash generating unit exceeds its recoverable amount. Impairment losses are recognized in profit or loss. Assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment.

The recoverable amount of an asset is the greater of an asset’s fair value less cost to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects the current market assessments of the time value of money and the risks specific to the asset. For an asset that does not generate cash inflows largely independent of those from other assets, the recoverable amount is determined for the cash-generating unit to which the asset belongs.

An impairment loss is only reversed if there is an indication that the impairment loss may no longer exist and there has been a change in the estimates used to determine the recoverable amount, however, not to an amount higher than the carrying amount that would have been determined had no impairment loss been recognized in previous years.

Loss per share
Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common shareholders by the weighted average number of shares outstanding during the reporting period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the reporting periods. Potentially dilutive options and warrants excluded from diluted loss per share totalled 9,317,296 (2017 – 9,251,640).

Standards issued or amended but not yet effective
A number of new standards, amendments to standards and interpretations applicable to the Company are not yet effective for the year ended December 31, 2018 and have not been applied in preparing these consolidated financial statements. These standards are as follows:

• IFRS 16 – Leases: On January 13, 2016, the IASB issued the final version of IFRS 16 Leases. The new standard will replace IAS 17 Leases and is effective for annual periods beginning on or after January 1, 2019. IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee. Instead, all leases are treated in a similar way to finance leases applying IAS 17. IFRS 16 does not require a lessee to recognize assets and liabilities for short- term leases (i.e. leases of 12 months or less) and leases of low-value assets.

  The Company applied IFRS 16 effective January 1, 2019 using the modified retrospective method. Under this method, financial information will not be restated and will continue to be reported under the accounting standards in effect for those periods. The Company will recognize lease obligations related to its lease commitments for its office leases. It will be measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate as at January 1, 2019. The associated right of use asset will be measured at the lease obligation amount, less prepaid lease payments, resulting in no adjustment to the opening balance of deficit. The Company has implemented the following accounting policies permitted under the new standard:

• leases of low dollar value will continue to be expensed as incurred; and

• the Company will not apply any grandfathering practical expedients.

  As at January 1, 2019 the Company recognized approximately $517,000 in right-of-use assets and $517,000 of incremental lease obligations.

• IFRIC 23 – Uncertainty Over Income Tax Treatments: clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. It is effective for annual periods beginning on or after January 1, 2019 with early adoption permitted. The Company does not expect that the adoption of this standard will have a material effect on the Company’s consolidated financial statements.

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Cash

12 Months Ended

Dec. 31, 2018

Cash [abstract]

Cash

NOTE 3 – Cash

	December 31, 2018	December 31, 2017
	$	$
Cash at financial institutions	18,224,563	18,312,333
Cash held in lawyers’ trust account	109,169	146,458
	18,333,732	18,458,791

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Prepaid Expenses

12 Months Ended

Dec. 31, 2018

Disclosure of Prepaid Expenses [Abstract]

Prepaid Expenses

NOTE 4 – Prepaid Expenses

	December 31, 2018	December 31, 2017
	$	$
Prepaid expenses	468,600	297,003
Deposits	21,302	22,600
	489,902	319,603

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Investments

12 Months Ended

Dec. 31, 2018

Disclosure of Investment [Abstract]

Investments

NOTE 5 –Investments

In February 2017, the Company acquired 600,000 shares of Contact Gold Corp. for a total of $300,000, which had been classified as FVTPL and measured at fair value. As at December 31, 2017, the fair value of the investment was $306,000. During the year ended December 31, 2018, the Company sold these shares for proceeds of $217,071 and recorded a loss of $88,929.

In connection with the acquisition of Battle Mountain Gold Inc. (“BMG”), the Company acquired certain marketable securities, which have been classified as FVTPL and measured at fair value. As at December 31, 2017, the fair value of the investment was $3,035. During the year ended December 31, 2018, the Company sold these securities for proceeds of $3,632 and recorded a gain of $597.

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Acquisition

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about business combination [abstract]

Acquisition

NOTE 6 – Acquisition

On May 6, 2016, the Company acquired 10,481,435 units of BMG at a price of $0.35 per unit for a total subscription price of $3,668,502. Each unit consisted of one common share of BMG and one-half of one common share purchase warrant. The share purchase warrants entitled the Company to purchase up to an additional 5,240,717 common shares of BMG for a period of two years at a price of $0.37 per share. BMG was a public company trading on the TSX-V and its principal business activity was the exploration of mineral properties. The corporate office was located in Vancouver, British Columbia, Canada.

In June 2016 and as amended in August 2016, the Company entered into an agreement with BMG and the royalty owner (the “Royalty Owner”) of BMG’s Lewis Gold Project to reduce the royalty rate on gold and silver production of the Lewis Gold Project from 5% to 3.5% (the “BMG Royalty Agreement”). In exchange, the Company agreed to pay US$1.85 million in a combination of cash and shares on behalf of BMG to the Royalty Owner. In August 2016, the Company paid $1,197,598 (US$925,000) in cash and issued 532,864 common shares at a value of $1,678,522 (collectively “the Advance”) to the Royalty Owner. In August 2016, the Company exercised 5,240,717 warrants for 5,240,717 common shares of BMG for a total of $1,939,065 using a portion of the Advance. In addition, BMG issued 885,468 common shares valued at $752,649 to settle the remaining balance of the Advance. As a result, the Company recorded a loss on settlement of advance of $184,406. As at December 31, 2016, the Company owned 16,607,620 common shares of BMG, or 27.58% of the total number of outstanding shares of BMG, which resulted in a market value of $5,314,438.

The following is a reconciliation of the Company’s investment in BMG prior to acquisition:

	$
Balance as at December 31, 2015	-
Initial investment	3,668,502
Additional investment	2,691,714
Dilution loss in BMG	(67,602	)
Equity loss in BMG	(336,467	)
Impact of share-based payment in BMG	218,874
Balance as at December 31, 2016	6,175,021
Dilution loss in BMG	(238,057	)
Equity loss in BMG	(569,398	)
Impact of share-based payment in BMG	8,962
Value of investment prior to acquisition	5,376,528

In April 2017, the Company entered into a definitive agreement pursuant to which the Company agreed to acquire all of the issued and outstanding common shares of BMG (other than those already owned by the Company) for consideration of 0.1891 of a common share of the Company plus $0.08 in cash for each BMG common share acquired, by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement“).

In June 2017, the Company acquired all of the issued and outstanding common shares of BMG, other than those already owned by the Company. As consideration, the Company issued 9,352,320 common shares at a value of $24,970,694 (Note 12) and made cash payments of $3,956,656 to the shareholders of BMG. As part of the arrangement, all unexercised BMG stock options and warrants were exchanged for the Company’s replacement stock options and warrants at the fixed exchange ratio at a value of $576,506 (Note 12). In addition, the Company incurred $561,959 in transaction costs relating to the acquisition and these costs were capitalized as part of the acquisition of the exploration and evaluation assets.

The acquisition of BMG has been treated as an acquisition of exploration and evaluation assets.

The assets and liabilities of BMG assumed on acquisition were as follows:

	$
Cash	1,355,706
Receivables	51,246
Held for trading investments	578
Prepaid expenses	41,758
Exploration and evaluation assets	10,189,010
Reclamation bonds	33,150
Accounts payable and accrued liabilities	(235,486	)
Loan payable	(1,550,000	)
Net assets	9,885,962

The total consideration for the acquisition was as follows:

	$
Value of investment prior to acquisition	5,376,528
Cash paid	3,956,656
Value of shares issued	24,970,694
Transaction costs	561,959
Value of replacement stock options and warrants	576,506
	35,442,343
Less: net assets	(9,885,962	)
Excess consideration paid over the net assets of BMG	25,556,381

The excess of the consideration over the net assets of BMG has been added to the exploration and evaluation assets to reflect the fair value of the Lewis Gold Project (Note 7).

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Exploration and Evaluation Assets

12 Months Ended

Dec. 31, 2018

Disclosure of Exploration and Evaluation Assets [Abstract]

Exploration and Evaluation Assets

NOTE 7 – Exploration and Evaluation Assets

Expenditures for the years related to exploration and evaluation assets located in Nevada, USA were as follows:

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
	$	$	$
Balance as at December 31, 2016	93,913,136	-	93,913,136
Property acquisition and staking costs	253,744	35,745,391	35,999,135
Exploration expenses
Claim maintenance fees	369,925	79,138	449,063
Consulting	2,361,902	234,684	2,596,586
Data analysis	498,200	22,482	520,682
Drilling	11,834,010	1,299,403	13,133,413
Environmental and permitting	275,885	4,648	280,533
Equipment rental	78,392	1,849	80,241
Geological	997,238	15,275	1,012,513
Lease payments	1,487,916	109,563	1,597,479
Metallurgy	909,757	-	909,757
Sampling and processing	1,141,491	28,386	1,169,877
Site development and reclamation	1,293,953	149,086	1,443,039
Supplies	1,278,358	2,722	1,281,080
Vehicle	49,341	-	49,341
	22,830,112	37,692,627	60,522,739
Balance as at December 31, 2017	116,743,248	37,692,627	154,435,875

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
	$	$	$
Balance as at December 31, 2017	116,743,248	37,692,627	154,435,875
Property acquisition and staking costs	4,989	-	4,989
NSR buy-down	4,427,850	-	4,427,850
Exploration expenses
Claim maintenance fees	359,532	81,528	441,060
Consulting	3,692,499	81,721	3,774,220
Data Analysis	58,172	22,282	80,454
Drilling	18,472,855	174,781	18,647,636
Engineering	134,827	-	134,827
Environmental and permitting	387,679	-	387,679
Equipment rental	127,471	491	127,962
Geological	788,032	25,554	813,586
Geotechnical	654,687	-	654,687
Hydrology	930,729	-	930,729
Lease payments	1,805,255	118,784	1,924,039
Metallurgy	551,864	-	551,864
Preliminary economic assessment	579,226	-	579,226
Provision for site reclamation	946,010	-	946,010
Sampling and processing	561,710	81,770	643,480
Site development and reclamation	5,722,669	98,297	5,820,966
Supplies	1,224,990	1,002	1,225,992
Vehicle	113,578	-	113,578
	41,544,624	686,210	42,230,834
Balance as at December 31, 2018	158,287,872	38,378,837	196,666,709

Railroad-Pinion Project

The Railroad-Pinion project is located in Elko County, Nevada, USA.

In August 2009, the Company entered into an agreement to acquire a 100% interest in certain claims comprising the Railroad Property in Nevada from Royal Standard Minerals, Inc (“RSM”) and its subsidiaries. The Railroad property is subject to three underlying agreements as follows:

a.	Aladdin Sweepstakes Lease/Purchase Agreement whereby the Company acquired certain interests for US$2,965,000 subject to a 1% net smelter royalty (“NSR”).
b.	Tomera Mining Lease consists of five separate leases, three of which are subject to a 5% NSR. The Company is required to pay annual lease payments of US$87,137 for 2016 and US$96,887 thereafter.
c.	Sylvania Mining Lease Agreement which is subject to annual lease payments of US$20,000 expiring in December 2021 subject to a 5 % NSR.

RSM will retain a 1% NSR on the entire property and certain claims are subject to a 1.5% Mineral Production Royalty payable to Kennecott Holdings Corporation.

In April 2011 (and amended June 2016), the Company entered into a minerals lease and agreement with Newmont USA Limited (“Newmont”) to lease four sections and acquire a 100% right to prospect and explore for minerals on and beneath the leased lands. Two of the four sections are staked public lands, which carry no underlying royalty. The other two sections are private surface and minerals lands subject to a total annual lease payment of US$39,680 and an underlying 5% NSR. Under the terms of the agreement, the Company is required to incur US$500,000 in each of 2017 (incurred) and 2018 (incurred).

Beginning in 2019, the Company will be subject to an annual work commitment of US$300,000, or the Company will be required to pay an annual rental payment of US$33,600 to Newmont.

Newmont has a first back-in right on or before delivery of a positive feasibility study, enabling Newmont to earn a 51% interest in the lease by incurring expenditures totaling 150% of the expenditures made by the Company. If Newmont elects not to exercise the back-in right, Newmont will deed the claims and assign the leases on the leased lands to the Company in exchange for the Company’s executing a royalty deed conveying a 3% NSR on the claims and a 1% NSR on the leased lands to Newmont. If Newmont exercises its first back-in right, it has a second back-in right to earn an additional 19% interest in the lease by expending an additional 100% of the expenditures made by the Company. The project would then revert to a joint venture between Newmont (70%) and the Company (30%).

Between October 2011 and May 2012, the Company entered into various mining lease agreements to acquire a 100% interest in certain claims, collectively known as the Pinion project (“Pinion”), with a lease term of ten years with an option to extend the lease term for an additional ten years.

Each lease is subject to a 5% NSR. The lease payment will be cumulatively credited to the Company’s account and will be applied against the Company’s obligation to pay the NSR payment up to 80% of the total lease payment.

In October 2012, the Company entered into a lease for a 100% right in certain patented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$15,000 increasing to US$50,000 in years six to nine. The Company has the option to purchase the property for US$1,500,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$75,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments paid will be credited against future NSR payments.

In October 2012, the Company entered into a surface use agreement with a primary term of 10 years, with provisions for extension after that. The surface use agreement is subject to an annual lease payment of US$20,103. The Company has the option to purchase the property for US$8,934,640 and must purchase the property prior to commencing production.

In November 2012, the Company entered into a mining lease agreement to lease a 100% interest in certain mineral rights for a period of 12 years. The Company paid an initial amount of US$1,000,000 upon execution of the agreement and must make annual lease payments of US$175,000. The annual lease payments increase by 5% each year. The Company is required to spend US$1,000,000 per year (incurred to date) on exploration for the remainder of the lease term, with the option of making a cash payment to the vendor of any shortfall. The lease agreement is subject to a 5% NSR with a buy-down option of 3% for US$3,500,000 in year one through six or for US$7,000,000 in year seven through twelve. The Company, prior to commencing production on the property and after having exercised its buy-down option of the NSR, has an option to purchase the property for an amount of US$25,000,000. If the Company exercises the purchase option, 70% of the initial amount will be credited towards the purchase price and 70% of all annual lease payments will be credited against future NSR payments. The Company has the option to extend the lease for an additional 10 years by paying US$1,000,000 and making annual lease payments of US$500,000 per year, increasing annually in the amount of 5% of the previous year’s annual lease payment. After the third anniversary, the Company can terminate this agreement by making a cash payment equal to the lease payments for the following two years of the lease term.

In December 2012, the Company entered into a mining lease and option to purchase agreement to lease a 100% right in certain patented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$20,000 increasing to US$35,000 in years six to nine. The Company has the option to purchase the property for US$1,000,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR with a buy-down option of 2% for US$2,000,000 and a further 1% for US$1,500,000. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$50,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In July 2013, the Company entered into a lease for a 100% right in certain patented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$25,000 increasing to US$43,750 in years six to nine. The Company has the option to purchase the property for US$1,250,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR with a buy-down option of 2% for US$2,000,000 and a further 1% for US$1,000,000. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$62,500 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In March 2014, the Company entered into an agreement to acquire a certain portion of the Pinion Gold Deposit (“Pinion Gold Deposit”), which is contiguous to the Company’s Railroad Gold Project. Under the terms of the agreement, the Company made cash payments of $8,500,000 and issued 6,750,000 common shares of the Company valued at $4,807,500. The Company is subject to additional cash consideration between $1,500,000 and $3,000,000 if the Company enters into a transaction whereby it sells a majority of the Company for consideration exceeding $100,000,000. The Pinion Gold Deposit is subject to five underlying lease agreements which require total annual lease payments of US$47,931 increasing to US$49,090 in 2017 as well as a maximum of a 5% NSR pursuant to various underlying lease agreements and royalty agreements.

In September 2014, the Company entered into a mining lease with option to purchase agreement to lease a 100% right in certain unpatented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$30,000 increasing to US$90,000 in years six to nine. The Company has the option to purchase the property for US$1,500,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 4% NSR with a buy-down option of 1% for US$1,000,000 before the fifth anniversary and a further 1% for US$1,500,000 before the tenth anniversary. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$100,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In January 2015, the Company entered into a mining lease with option to purchase agreement to lease a 100% right in certain unpatented mining claims for a primary period of 10 years. The Company is required to make annual lease payments of US$8,000 increasing to US$20,000 in years six to nine. The Company has the option to purchase the property for US$150,000 and must purchase the property prior to commencing production. The lease agreement is subject to a 3% NSR with a buy-down option of 1% for US$150,000 before the fifth anniversary and a further 1% for US$250,000 before the tenth anniversary. The Company has the option to extend the lease for an additional 10 years with annual lease payments of US$25,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In 2016, the Company entered into certain mining lease and option to purchase agreements to lease a 100% right in certain patented mining claims for a primary period of 10 years. The Company paid US$279,000 upon execution of these agreements and is required to make combined annual lease payments of approximately US$16,500 on the first anniversary; the annual lease payments increase to approximately US$31,000 in years six to nine. The Company has the option to purchase certain properties for US$800,000 and must purchase certain properties prior to commencing production. Certain lease agreements are subject to a 3% NSR with buy-down options of 1% for US$1,100,000. The Company has the option to extend the leases for an additional 10 years with annual lease payments approximately US$31,000 per year, with provisions for extension after that. If the Company exercises the purchase option, all initial lease payments will be credited against future NSR payments.

In March 2017, the Company entered into a mining lease agreement to lease a 100% interest in certain mineral rights for a period of 10 years. The Company paid an initial amount of US$75,000 upon execution of the agreement and an annual lease payment of US$75,000. The lease agreement is subject to a 3.5% NSR. The Company has the option to extend the lease for an additional 10 years by paying US$75,000 and making annual lease payments of US$75,000 per year. In addition, the Company entered into a surface use agreement with a primary term of 10 years, with provisions for extension thereafter. The surface use agreement is subject to an annual lease payment of US$9,000. The Company has the option to purchase the property for US$2,000,000 and must exercise the option prior to commencing production.

In January 2018, the Company entered into a mining lease agreement to lease a 100% interest in certain mineral rights for a period of 10 years. The Company paid an initial amount of US$10,000 upon execution of the agreement and must make annual payments of US$10,000 increasing to US$30,000 in years six to nine. The lease agreement is subject to a 3% NSR.

In March 2018, the Company exercised its NSR buy-down option on one of its mining lease agreements executed in November 2012 to reduce the NSR royalty from 5% to 2% by making a lump-sum payment of US$3,500,000 to the lessee.

In May 2018, the Company entered into an amendment agreement to one of its mining lease agreements executed in November 2011 to reduce the NSR royalty from 5% to 2% and extend the term of the lease for an additional 8 years beyond the primary 10 year term of the original agreement by making a lump-sum payment of US$300,000 to the lessees.

Payment requirements from 2019 to 2023 under agreements are approximately as follows:

	Total	Total
	Work	Lease
	commitment	payment	Total
	US$	US$	US$
2019	1,300,000	1,077,000	2,377,000
2020	1,300,000	1,016,000	2,316,000
2021	1,300,000	823,000	2,123,000
2022	1,300,000	383,000	1,683,000
2023	1,300,000	383,000	1,683,000
	6,500,000	3,682,000	10,182,000

Lewis Gold Project

As a result of the acquisition of BMG, the Company acquired a 100% right, title and interest in mining claims located in the Battle Mountain Mining District in Lander County, Nevada, USA (the “Lewis Gold Project”).

The Lewis Gold Project is subject to an advance minimum annual royalty in the amount of US$60,000 in cash, which is subject to an annual escalation based upon a defined consumer price index. The advance minimum royalty payments are to be credited against any production royalty payable in the same year. Production royalties include a 3.5% NSR for gold and silver and a 4% NSR for other minerals such as lead, zinc, and copper (the “BMG Royalty”).

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Reclamation Bonds

12 Months Ended

Dec. 31, 2018

Disclosure of Reclamation Bonds [Abstract]

Reclamation Bonds

NOTE 8 - Reclamation Bonds

In relation to its exploration and evaluation assets, the Company has posted reclamation bonds as at December 31, 2018 of $2,154,027 (US$1,581,158) (2017 - $1,248,817 (US$965,471)).

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Property and Equipment

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about property, plant and equipment [abstract]

Schedule of Property and Equipment

NOTE 9 - Property and Equipment

	Leasehold
	improvements	Computers	Total
	$	$	$
Cost:
At December 31, 2016	210,742	-	210,742
Additions	288,581	29,482	318,063
At December 31, 2017	499,323	29,482	528,805
Additions	184,435	40,805	225,240
At December 31, 2018	683,758	70,287	754,045
Depreciation:
At December 31, 2016	75,424	-	75,424
Charge for the year	40,596	4,422	45,018
At December 31, 2017	116,020	4,422	120,442
Charge for the year	141,956	36,225	178,181
At December 31, 2018	257,976	40,647	298,623
Net book value:
At December 31, 2017	383,303	25,060	408,363
At December 31, 2018	425,782	29,640	455,422

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Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2018

Disclosure of Accounts Payable and Accrued Liabilities [Abstract]

Accounts Payable and Accrued Liabilities

NOTE 10 – Accounts Payable and Accrued Liabilities

	December 31, 2018	December 31, 2017
	$	$
Accounts payable	848,332	636,961
Accrued liabilities	1,101,890	1,005,138
	1,950,222	1,642,099

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Provision for Site Reclamation

12 Months Ended

Dec. 31, 2018

Provision For Site Reclamation

Provision for Site Reclamation

NOTE 11 – Provision for Site Reclamation

During the year ended December 31, 2018, the Company recorded a provision for the estimated cost of site reclamation relating to exploration activities at its Railroad-Pinion Project. The Company used an inflation rate of 2.16% (2017 – nil) and an average discount rate of 3.09% (2017 – nil) in calculating the estimated obligation. The undiscounted uninflated value of the cash flows required to settle the provision is approximately $1,138,149 expected to be incurred over the next 20 years.

	Railroad-Pinion
	$
Balance as at December 31, 2016 and 2017	-
Increase in estimate	946,010
Foreign exchange adjustment	56,351
Accretion expense	2,138
Balance as at December 31, 2018	1,004,499

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Share Capital and Reserves

12 Months Ended

Dec. 31, 2018

Disclosure of classes of share capital [abstract]

Share Capital and Reserves

NOTE 12 - Share Capital and Reserves

Authorized Share Capital

Unlimited number of common shares without par value.

Issued Share Capital

In June 2017, in connection to the acquisition of BMG, the Company issued 9,352,320 common shares at a value of $24,970,694.

In February 2018, the Company completed an underwritten public offering and a concurrent private placement financing and issued 18,626,440 common shares of the Company at a price of $2.05 per share for gross proceeds totalling $38,184,202, and incurred cash commissions and expenses of $2,623,077.

In September 2018, the Company completed a private placement financing and issued 5,230,901 common shares of the Company at a price of $2.05 per share for gross proceeds totalling $10,723,347, and incurred cash commissions and expenses of $466,386.

Share Purchase Warrants

In June 2017, in connection to the acquisition of BMG, the Company issued 218,700 replacement warrants with an exercise price of $1.15, at a fair value of $332,551, calculated using the Black-Scholes option pricing model assuming a life expectancy of one month, a risk-free rate of 0.56%, a forfeiture rate of 0%, and volatility of 52%. In July 2017, the Company issued 218,700 common shares in relation to the exercise of all of the 218,700 replacement warrants for total proceeds of $251,505 and the fair value of $332,551 attributable to these warrants was transferred from reserves to share capital.

There were no share purchase warrants outstanding as at December 31, 2018 and 2017.

Stock Options

The Company has a Stock Option Plan whereby the maximum number of common shares reserved for issue under the plan shall not exceed 10% of the outstanding common shares of the Company, as at the date of the grant. The exercise price of each option granted under the plan may not be less than the Discounted Market Price (as that term is defined in the policies of the TSX). Options may be granted for a maximum term of five years from the date of the grant, are non-transferable and expire within 90 days of termination of employment, consulting arrangement or holding office as a director or officer of the Company, are subject to vesting provisions as determined by the Board of Directors (the “Board”) and, in the case of death, expire within one year thereafter. Upon death, the options may be exercised by legal representation or designated beneficiaries of the holder of the option.

In June 2017, in connection to the acquisition of BMG, the Company issued 153,089 replacement options with a weighted average exercise price of $1.67 per share, at a fair value of $243,955.

During the year ended December 31, 2017, the Company issued 2,448,916 common shares in relation to the exercise of 2,448,916 stock options (including 87,477 replacement options) for total proceeds of $2,245,788 and the fair value of $1,782,269 attributable to these stock options was transferred from reserves to share capital. Additionally, 105,612 stock options (including 65,612 replacement options) expired unexercised and the fair value of $183,406 attributable to these stock options was transferred from reserves to deficit. In addition, during the year ended December 31, 2017, the Company granted a total of 3,465,140 stock options with a fair value of $4,264,487, of which $3,136,225 was expensed.

During the year ended December 31, 2018, the Company issued 2,415,666 common shares in relation to the exercise of 2,415,666 stock options for total proceeds of $2,113,632 and the fair value of $1,641,078 attributable to these stock options was transferred from reserves to share capital. Additionally, 292,934 stock options expired unexercised and 25,000 stock options were cancelled and the fair value of $224,306 attributable to these stock options was transferred from reserves to deficit. In addition, during the year ended December 31, 2018, the Company granted a total of 2,799,256 stock options as follows:

• 100,000 stock options with an exercise price of $1.96 per share vest one-third immediately, one-third on January 15, 2019, and one-third on January 15, 2020, with a fair value of $102,519.

• 2,439,256 stock options with an exercise price of $2.11 per share vest one-third immediately, one-third on January 26, 2019, and one-third on January 26, 2020, with a fair value of $2,599,050.

• 100,000 stock options with an exercise price of $2.11 per share vest one-third immediately, one-third on April 27, 2019, and one-third on April 27, 2020, with a fair value of $105,740.

• 160,000 stock options with an exercise price of $1.96 per share vest one-third immediately, one-third on June 26, 2019, and one-third on June 26, 2020, with a fair value of $156,288.

During the year ended December 31, 2018, the Company expensed a total of $3,227,899 (2017 – $3,136,225) as share-based compensation for values of stock options vested.

The fair value of options granted is estimated on the grant date using the Black-Scholes option pricing model using the following weighted average variables:

	For the year ended December 31,
	2018	2017
Risk-free interest rate	1.99%	1.53%
Expected option life in years	4 years	4.90 years
Expected stock price volatility	65%	70%
Expected dividend rate	0%	0%

A summary of stock option activities is as follows:

	Number of		Weighted average
	options		exercise price
			$
Outstanding at December 31, 2016	8,187,939		0.98
Exercised	(2,448,916	)	0.92
Granted	3,465,140		2.15
Expired	(105,612	)	2.57
Replacement options issued	153,089		1.67
Outstanding at December 31, 2017	9,251,640		1.43
Exercised	(2,415,666	)	0.87
Granted	2,799,256		2.10
Expired	(292,934	)	2.12
Cancelled	(25,000	)	2.11
Outstanding at December 31, 2018	9,317,296		1.75

A summary of the stock options outstanding and exercisable at December 31, 2018 is as follows:

Exercise	Number	Number
Price	Outstanding	Exercisable	Expiry Date
$
0.77	705,000	705,000	September 12, 2019
0.73	2,225,000	2,225,000	November 27, 2020
3.16	507,500	507,500	September 29, 2021
2.24	325,000	325,000	June 1, 2022
2.12	2,280,540	1,520,360	August 1, 2022
2.25	600,000	400,000	September 12, 2022
1.96	100,000	33,333	January 15, 2023
2.11	2,314,256	771,419	March 5, 2023
2.11	100,000	33,333	April 27, 2023
1.96	160,000	53,333	September 14, 2023
	9,317,296	6,574,278

The stock option reserve records items recognized as share-based compensation expense until such time that the stock options are exercised, at which time the corresponding amount will be transferred to share capital. If vested options expire unexercised or are forfeited, the amount recorded is transferred to deficit.

Restricted Share Unit Award Plan

In 2017, the Company adopted a Restricted Share Unit Award Plan (“RSU Plan”) whereby the maximum number of common shares reserved for issue under the RSU Plan shall not exceed 5,000,000 common shares of the Company. In addition, the aggregate number of common shares issuable pursuant to the RSU Plan combined with all of the Company’s other security-based compensation arrangements, including the Company’s Stock Option Plan, shall not exceed 10% of the Company’s outstanding shares. During the year ended December 31, 2017, the Company did not grant any restricted share unit awards.

In March 2018, the Company granted 567,110 restricted share units to certain officers and directors with a fair value of $1,196,602, of which $654,127 was expensed during the year ended December 31, 2018 (2017 – $nil). The restricted share units issued to officers of the Company vest one-third every year. The directors of the Company, who have been granted restricted share units, have the entitlement to have one-third of the grant vest every year. However, the restricted share units will vest only when the director’s position on the Board has been terminated.

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Segmented Information

12 Months Ended

Dec. 31, 2018

Disclosure of operating segments [abstract]

Segmented Information

NOTE 13 - Segmented Information

The Company has one operating segment, being the acquisition and exploration of exploration and evaluation assets.

Geographic information is as follows:

	As at December 31, 2018
	Canada	US	Total
	$	$	$
Reclamation bonds	-	2,154,027	2,154,027
Property and equipment	67,636	387,786	455,422
Exploration and evaluation assets	-	196,666,709	196,666,709
	67,636	199,208,522	199,276,158
	As at December 31, 2017
	Canada	US	Total
	$	$	$
Reclamation bonds	-	1,248,817	1,248,817
Property and equipment	94,722	313,641	408,363
Exploration and evaluation assets	-	154,435,875	154,435,875
	94,722	155,998,333	156,093,055

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Related Party Transactions

12 Months Ended

Dec. 31, 2018

Related party transactions [abstract]

Related Party Transactions

NOTE 14 - Related Party Transactions

During the year ended December 31, 2018, the Company entered into the following transactions with related parties, not disclosed elsewhere in these financial statements:

i.	As at December 31, 2018, $296,702 (2017 - $640,573) was included in accounts payable and accrued liabilities owing to officers and directors of the Company in relation to professional fees and reimbursement of expenses.
ii.	As at December 31, 2018, $nil (2017 - $7,000) was included in prepaid expenses for prepayments made to directors of the Company in relation to director fees.
iii.	The Company received $18,000 (2017 - $4,500) of rent from a company related by way of common officers.

During the year ended December 31, 2017, a director and officer resigned and the Company agreed to pay a total termination payment of $384,902 in accordance with the terms and conditions of his consulting agreement with the Company.

Summary of key management personnel compensation:

Key management personnel includes those persons having authority and responsibility for planning, directing, and controlling the activities of the Company as a whole. The Company has determined that key management personnel consists of members of the Board and corporate officers, including the Company’s Chief Executive Officer and Chief Financial Officer.

	For the year ended December 31,
	2018	2017
	$	$
Management fees	1,360,539	1,750,691
Professional fees	266,150	187,000
Exploration and evaluation assets expenditures	129,872	353,520
Wages and salaries	22,919	43,633
Share-based compensation	2,312,347	2,228,191
	4,091,827	4,563,035

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Capital Disclosure and Management

12 Months Ended

Dec. 31, 2018

Disclosure of capital disclosure and Management [Abstract]

Capital Disclosure and Management

NOTE 15 - Capital Disclosure and Management

The Company considers its capital structure to include the components of shareholders’ equity. Management’s objective is to ensure that there is sufficient capital to minimize liquidity risk and to continue as a going concern. As an exploration stage company, the Company is currently unable to self-finance its operations.

Although the Company has been successful in the past in obtaining financing through the sale of equity securities, there can be no assurance that the Company will be able to obtain adequate financing in the future, or that the terms of such financings will be favourable.

The Company’s share capital is not subject to any external restrictions and the Company did not change its approach to capital management during the year.

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Financial Instruments and Risk Management

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about financial instruments [abstract]

Financial Instruments and Risk Management

NOTE 16 - Financial Instruments and Risk Management

Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values. The three levels of the fair value hierarchy are:

• Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly; and

• Level 3 – Inputs that are not based on observable market data.

The Company’s financial instruments consist of cash, receivables, investments, reclamation bonds, and accounts payable and accrued liabilities. The fair value of these financial instruments, other than cash and investments, approximates their carrying values due to the short-term nature of these instruments. Cash and investments are measured at fair value using level 1 inputs.

The Company is exposed to a variety of financial risks by virtue of its activities including currency, credit, interest rate, liquidity, and commodity price.

a)      Currency risk

The Company conducts exploration and evaluation activities in the United States. As such, it is subject to risk due to fluctuations in the exchange rates for the Canadian and US dollars. As at December 31, 2018, the Company had a foreign currency net monetary asset position of approximately US$5,760,000. Each 1% change in the US dollar relative to the Canadian dollar will result in a foreign exchange gain/loss of approximately $57,600.

b)      Credit risk

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations. The Company’s cash is held in large Canadian and U.S. financial institutions and the Company considers this risk to be remote.

c)      Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to limited interest rate risk as it only holds cash and highly liquid short-term investments.

d)      Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its obligations as they come due. The Company’s ability to continue as a going concern is dependent on management’s ability to raise the required capital through future equity or debt issuances. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating any investing and financing activities. Management and the Board are actively involved in the review, planning, and approval of significant expenditures and commitments.

e)      Commodity price risk

The ability of the Company to raise funds to explore and develop its exploration and evaluation assets and the future profitability of the Company are directly related to the price of gold. The Company monitors gold prices to determine the appropriate course of action to be taken.

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Commitments

12 Months Ended

Dec. 31, 2018

Disclosure of Commitments [Abstract]

Commitments

NOTE 17 - Commitments

a)      The Company has a lease agreement for an office space in Vancouver, B.C. expiring on April 30, 2020 and incurring minimum monthly rent payments of approximately $6,000 to the year 2020.

In August 2017, the Company entered into a lease agreement for office premises in Elko, Nevada expiring on August 28, 2022 and incurring minimum monthly rent payments from US$8,000 in 2017 increasing to US$10,000 in 2022. The Company has an option to purchase the property for US$1,100,000 with a credit to be applied to the purchase price based on a percentage of the minimum rent payments made in the year of purchase.

Summary of commitments for office leases:

	Vancouver
	Office	Elko Office	Total
	$	$	$
Payable not later than one year	73,608	141,877	215,485
Payable later than one year and not later than five years	24,536	417,445	441,981
Payable later than five years	-	-	-
Total	98,144	559,322	657,466

b)	The Company has two separate consulting agreements with officers and directors of the Company to provide management consulting and exploration services to the Company for an indefinite term. The agreements require total combined payments of $50,750 per month. Included in each agreement is a provision for a two-year payout in the event of termination without cause and three-year payout in the event of a change in control.
c)	The Company has two separate employment agreements with employees of the Company to provide exploration services to the Company for an indefinite term. The agreements require total combined payments of US$31,767 per month. Included in each agreement is a provision for a two-year payout in the event of termination following a change in control.
d)	The Company has an employment agreement with an officer of the Company to provide corporate secretarial and legal services to the Company for an indefinite term. The agreement requires payment of $19,167 per month. Included in the agreement is a provision for a two-year payout in the event of termination without cause or in the event of a change in control.

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Supplementary Cash Flow Information

12 Months Ended

Dec. 31, 2018

Disclosure of Supplementary Cash Flow Information [Abstract]

Supplementary Cash Flow Information

NOTE 18 – Supplementary Cash Flow Information

	For the year ended December 31,
	2018	2017
	$	$
Non-cash transactions
Exploration and evaluation assets expenditures in accounts payable at year end	1,355,658	626,913
Shares issued for acquisition of exploration and evaluation assets	-	24,970,694
Reclassification of cancelled stock options	57,591	227,836
Reclassification of expired stock options	166,715	183,406
Reclassification of stock options exercised	1,641,078	1,782,269
Replacement options and warrants issued	-	576,506
Reclassification of investment in associated company to
exploration and evaluation assets	-	5,376,528
Provision for site reclamation	946,010	-

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Income Taxes

12 Months Ended

Dec. 31, 2018

Major components of tax expense (income) [abstract]

Income Taxes

NOTE 19 – Income Taxes

The reconciliation of the combined Canadian federal and provincial income tax rate to the income tax recovery presented in the accompanying statements of comprehensive loss is provided below:

	Years ended December 31,
	2018		2017
	$		$
Loss before income taxes	(10,238,910	)	(11,426,786	)
Expected income tax recovery at statutory tax rates	(2,765,000	)	(2,971,000	)
Impact of different statutory tax rates on earnings of subsidiaries	258,000		(1,169,000	)
Change in statutory, foreign tax rates and other	(110,000	)	5,968,000
Foreign exchange	(3,063,000	)	2,390,000
Non-deductible expenditures	666,000		4,147,000
Share issuance costs	(834,000	)	-
Adjustment in prior years provision statutory tax returns and expiry of non-
capital losses	591,000		56,000
Change in unrecognized deductible temporary differences and others	5,257,000		(8,421,000	)
Total	-		-

Significant components of deferred tax assets that have not been recognized are as follows:

	As of December 31,
	2018	2017
	$	$
Share issuance costs	1,167,000	900,000
Non-capital losses	12,987,000	9,489,000
Provision for site reclamation	211,000	-
Allowable capital losses	43,000	-
Property and equipment	95,000	103,000
Exploration and evaluation assets	6,035,000	4,787,000
Total	20,538,000	15,279,000

Significant components of unrecognized deductible temporary differences and unused tax losses that have not been recognized on the statements of financial position are as follows:

	As of December 31,
	2018	Expiry dates	2017	Expiry dates
	$		$
Share issuance costs	4,321,000	2019 to 2022	3,335,000	2018 to 2020
Non-capital losses	54,963,000	2027 to 2038	40,845,000	2027 to 2037
Provision for site reclamation	1,004,000	No Expiry	-	No Expiry
Capital losses	159,000	No Expiry	-	No Expiry
Property and equipment	332,000	No Expiry	385,000	No Expiry
Exploration and evaluation assets	27,259,000	No Expiry	21,480,000	No Expiry

Tax attributes are subject to review, and potential adjustment, by tax authorities.

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Subsequent Event

12 Months Ended

Dec. 31, 2018

Disclosure of non-adjusting events after reporting period [abstract]

Subsequent Event

NOTE 20 – Subsequent Events

a)

In January 2019, the Company granted 1,821,424 stock options to certain officers, directors, employees and consultants of the Company with an exercise price of $1.74 per option exercisable for a period of 5 years vesting one-third immediately and one-third every year thereafter. In addition, the Company granted 664,730 restricted share units to certain officers and directors vesting one-third every year. Furthermore, 50,000 stock options expired unexercised.

b)

In March 2019, the Company granted 50,000 stock options to an officer of the Company with an exercise price of $1.49 per option exercisable for a period of 5 years vesting one-third immediately and one-third every year thereafter. Furthermore, 120,000 stock options were exercised for proceeds of $88,400.

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Significant Accounting Policies and Basis of Preparation (Policies)

12 Months Ended

Dec. 31, 2018

Disclosure of Significant Accounting Policies and Basis of Preparation [Abstract]

Statement of compliance

Statement of compliance
These consolidated financial statements, including comparatives, have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and Interpretations issued by the International Financial Reporting Interpretations Committee (“IFRIC”).

Basis of presentation

Basis of presentation
These consolidated financial statements of the Company have been prepared on an accrual basis and are based on historical costs, except for investments which are measured at fair value. The consolidated financial statements are presented in Canadian dollars unless otherwise noted.

Basis of consolidation

Basis of consolidation
These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, JKR Gold Resources ULC, JKR Gold Resources (USA) Inc., JMD Exploration Corp., Gold Standard Ventures (US) Inc., Tacoma Exploration LLC, Battle Mountain Gold Inc., Battle Mountain Gold (USA) Inc., and Madison Enterprises (Nevada) Inc., from their dates of formation or acquisition. The Company’s Canadian subsidiaries are holding companies while its US subsidiaries are operating companies. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation. During the year ended December 31, 2017, the Company wound up JKR Gold Resources (USA) Inc. and JMD Exploration Corp. In addition, the Company merged Battle Mountain Gold (USA) Inc. and Madison Enterprises (Nevada) Inc., with the merged entity being named Madison Enterprises (Nevada) Inc.

Foreign currency translation

Foreign currency translation
The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company and each of its subsidiaries is the Canadian dollar. The functional currency determinations were conducted through an analysis of the consideration factors identified in IAS 21 – The Effects of Changes in Foreign Exchange Rates.

Transactions in currencies other than Canadian dollars are recorded at exchange rates prevailing on the dates of the transactions. At the end of each reporting period, monetary assets and liabilities denominated in foreign currencies are translated at the period end exchange rate while non-monetary assets and liabilities are translated at historical rates. Revenues and expenses are translated at the exchange rates approximating those in effect on the date of the transactions. Exchange gains and losses arising on translation are included in profit or loss.

Use of estimates

Use of estimates
The preparation of financial statements in conformity with IFRS requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported revenues and expenses during the period.

Although management uses historical experience and its best knowledge of the amount, events or actions to form the basis for judgments and estimates, actual results may differ from these estimates.

The most significant accounts that require estimates and judgements as the basis for determining the stated amounts include the recoverability of exploration and evaluation assets, determination of functional currency, valuation of the acquisition of an associated company, valuation of share-based compensation, recognition of deferred tax amounts and reclamation provisions.

Critical judgments exercised in applying accounting policies that have the most significant effect on the amounts recognized in the consolidated financial statements are as follows:

Economic recoverability and probability of future economic benefits of exploration and evaluation assets

Management has determined that exploration, evaluation, and related costs incurred which were capitalized may have future economic benefits and may be economically recoverable. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefits including, geologic and other technical information, a history of conversion of mineral deposits with similar characteristics to its own properties to proven and probable mineral reserves, the quality and capacity of existing infrastructure facilities, evaluation of permitting and environmental issues and local support for the project.

Determination of functional currency

The Company determines the functional currency through an analysis of several indicators such as expenses and cash flow, financing activities, retention of operating cash flows, and frequency of transactions within the reporting entity.

Valuation of the acquisition of an associated company

The Company acquired a publicly-traded associated company in June 2017. The process for determining whether the acquisition was an asset purchase versus a business acquisition was performed and primary consideration was given to the exploration stage of mineral properties, among other items. Shares issued for the acquisition were valued on the issue date and the excess of overall acquisition costs over net assets acquired was attributed to the mineral properties acquired.

Prior to June 2017, the Company held an investment in the associated company. To value the investment, management obtained financial information from the majority owner and adjusted the carrying value of the investment. The investment was subject to all estimates included in the financial information from the majority owner as well as estimates of impairment losses.

Information about assumptions and estimation uncertainties that have a significant risk of resulting in material adjustments are as follows:

Valuation of share-based compensation

The Company uses the Black-Scholes option pricing model for valuation of share-based compensation. Option pricing models require the input of subjective assumptions including expected price volatility, risk-free interest rate, and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company’s earnings and equity reserves.

Income taxes

In assessing the probability of realizing income tax assets, management makes estimates related to expectation of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified.

Reclamation provisions

The Company’s reclamation provision represents management’s best estimate of the present value of the future cash outflows required to settle the obligation. Management assesses these provisions on an annual basis or when new information becomes available. This assessment includes the estimation of the future reclamation costs, the timing of these expenditures, inflation, and the impact of changes in discount rates, interest rates and foreign exchange rates. The actual future expenditures may differ from the amounts currently provided if the estimates made are significantly different than actual results or if there are significant changes in environmental and/or regulatory requirements in the future.

Financial instruments
The Company adopted all of the requirements of IFRS 9 – Financial Instruments (“IFRS 9”) as of January 1, 2018. IFRS 9 replaces IAS 39 – Financial Instruments: Recognition and Measurement (“IAS 39”). IFRS 9 utilizes a revised model for recognition and measurement of financial instruments and a single, forward-looking “expected loss” impairment model. Most of the requirements in IAS 39 for classification and measurement of financial liabilities were carried forward in IFRS 9, so the Company’s accounting policy with respect to financial liabilities is unchanged. As a result of the adoption of IFRS 9, management has changed its accounting policy for financial assets retrospectively, for assets that continued to be recognized at the date of initial application. The change did not impact the carrying value of any financial assets or financial liabilities on the transition date.

The following is the Company’s new accounting policy for financial instruments under IFRS 9:

Financial assets

On initial recognition, financial assets are recognized at fair value and are subsequently classified and measured at: (i) amortized cost; (ii) fair value through other comprehensive income (“FVOCI”); or (iii) fair value through profit or loss (“FVTPL”). The classification of financial assets is generally based on the business model in which a financial asset is managed and its contractual cash flow characteristics. A financial asset is measured at fair value net of transaction costs that are directly attributable to its acquisition except for financial assets at FVTPL where transaction costs are expensed. All financial assets not classified and measured at amortized cost or FVOCI are classified as FVTPL. On initial recognition of an equity instrument that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in other comprehensive income/loss.

The classification determines the method by which the financial assets are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Receivables and reclamation bonds are measured at amortized cost with subsequent impairments recognized in profit or loss. Cash and investments are classified as FVTPL.

Impairment

An ‘expected credit loss’ impairment model applies which requires a loss allowance to be recognized based on expected credit losses. The estimated present value of future cash flows associated with the asset is determined and an impairment loss is recognized for the difference between this amount and the carrying amount as follows: the carrying amount of the asset is reduced to estimated present value of the future cash flows associated with the asset, discounted at the financial asset’s original effective interest rate, either directly or through the use of an allowance account and the resulting loss is recognized in profit or loss for the period.

In a subsequent period, if the amount of the impairment loss related to financial assets measured at amortized cost decreases, the previously recognized impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortized cost would have been had the impairment not been recognized.

Financial liabilities

Financial liabilities are designated as either: (i) fair value through profit or loss; or (ii) amortized cost. All financial liabilities are classified and subsequently measured at amortized cost except for financial liabilities at FVTPL. The classification determines the method by which the financial liabilities are carried on the statement of financial position subsequent to inception and how changes in value are recorded. Accounts payable and accrued liabilities are classified as other financial liabilities and carried on the statement of financial position at amortized cost.

As at December 31, 2018, the Company does not have any derivative financial liabilities.

Exploration and evaluation assets

Exploration and evaluation assets
Costs incurred on mineral resource properties before the Company has acquired the right to explore those properties are expensed as incurred.

Costs directly related to the acquisition and exploration of exploration and evaluation assets are capitalized once the legal rights to explore the exploration and evaluation assets are acquired or obtained. When the technical and commercial viability of a mineral resource has been demonstrated and a development decision has been made, the capitalized costs of the related property are first tested for impairment, then transferred to mining assets and depreciated using the units of production method on commencement of commercial production.

If it is determined that capitalized acquisition, exploration and evaluation costs are not recoverable, or the property is abandoned or management has determined an impairment in value, the property is written down to its recoverable amount. Exploration and evaluation assets are reviewed for impairment when facts and circumstances suggest that the carrying amount may exceed its recoverable amount.

Restoration and environmental obligations

Restoration and environmental obligations
The Company recognizes liabilities for statutory, contractual, constructive or legal obligations associated with the retirement of long-term assets, when those obligations result from the acquisition, construction, development or normal operation of the assets. The net present value of future restoration cost estimates arising from the decommissioning of plant and other site preparation work is capitalized to exploration and evaluation assets along with a corresponding increase in the restoration provision in the period incurred. Discount rates using a pre-tax rate that reflect the time value of money are used to calculate the net present value. The restoration asset will be depreciated on the same basis as the related assets.

The Company’s estimates of restoration costs could change as a result of changes in regulatory requirements, discount rates and assumptions regarding the amount and timing of the future expenditures. These changes are recorded directly to the related asset with a corresponding entry to the restoration provision. The Company’s estimates are reviewed annually for changes in regulatory requirements, discount rates, effects of inflation and changes in estimates.

Changes in the net present value, excluding changes in amount and timing of the Company’s estimates of reclamation costs, are charged to profit or loss for the period.

The net present value of restoration costs arising from subsequent site damage that is incurred on an ongoing basis during production are charged to profit or loss in the period incurred.

Share-based compensation

Share-based compensation
The Company operates an employee stock option plan and a restricted share unit award plan. Share-based compensation to employees is measured at the fair value of the instruments issued and amortized over the vesting periods. Share-based compensation to non-employees is measured at the fair value of goods or services received or the fair value of the equity instruments issued, if it is determined the fair value of the goods or services cannot be reliably measured, and are recorded at the date the goods or services are received. The corresponding amount is recorded to reserves. The fair value of options is determined using the Black–Scholes pricing model which incorporates all market vesting conditions and the fair value of restricted share units is determined using the fair value on grant date. The number of shares and options expected to vest is reviewed and adjusted at the end of each reporting period such that the amount recognized for services received as consideration for the equity instruments granted shall be based on the number of equity instruments that eventually vest. When vested options are forfeited or are not exercised at the expiry date, the amount previously recognized in share-based compensation is transferred to deficit.

Property and equipment

Property and equipment
Property and equipment are stated at historical cost less accumulated depreciation and accumulated impairment losses.

Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any replaced parts is derecognized. All other repairs and maintenance are charged to profit or loss during the fiscal period in which they are incurred.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognized in profit or loss.

Depreciation is calculated using a straight-line method to write off the cost of the assets. The depreciation rates applicable to each category of property and equipment are as follows:

Asset	Basis	Period and Rate
Computers	Declining-balance	55%
Leasehold Improvements	Straight-line	Remaining lease term

Income taxes

Income taxes
Current income tax:
Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the reporting date, in the country where the Company operates and generates taxable income.

Current income tax relating to items recognized directly in other comprehensive income (loss) or equity is recognized in other comprehensive income (loss) or equity and not in profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred income tax:
Deferred income tax is provided for, based on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and recognized only to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.

Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred income tax assets and deferred income tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred income taxes relate to the same taxable entity and the same taxation authority.

Impairment of non-financial assets

Impairment of non-financial assets
The carrying amount of the Company’s assets (which includes property and equipment and exploration and evaluation assets) is reviewed at each reporting date to determine whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss. An impairment loss is recognized whenever the carrying amount of an asset or its cash generating unit exceeds its recoverable amount. Impairment losses are recognized in profit or loss. Assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment.

The recoverable amount of an asset is the greater of an asset’s fair value less cost to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects the current market assessments of the time value of money and the risks specific to the asset. For an asset that does not generate cash inflows largely independent of those from other assets, the recoverable amount is determined for the cash-generating unit to which the asset belongs.

An impairment loss is only reversed if there is an indication that the impairment loss may no longer exist and there has been a change in the estimates used to determine the recoverable amount, however, not to an amount higher than the carrying amount that would have been determined had no impairment loss been recognized in previous years.

Loss per share

Loss per share
Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common shareholders by the weighted average number of shares outstanding during the reporting period. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of stock options and warrants, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and warrants were exercised and that the proceeds from such exercises were used to acquire common stock at the average market price during the reporting periods. Potentially dilutive options and warrants excluded from diluted loss per share totalled 9,317,296 (2017 – 9,251,640).

Standards issued or amended but not yet effective

Standards issued or amended but not yet effective
A number of new standards, amendments to standards and interpretations applicable to the Company are not yet effective for the year ended December 31, 2018 and have not been applied in preparing these consolidated financial statements. These standards are as follows:

• IFRS 16 – Leases: On January 13, 2016, the IASB issued the final version of IFRS 16 Leases. The new standard will replace IAS 17 Leases and is effective for annual periods beginning on or after January 1, 2019. IFRS 16 eliminates the classification of leases as either operating leases or finance leases for a lessee. Instead, all leases are treated in a similar way to finance leases applying IAS 17. IFRS 16 does not require a lessee to recognize assets and liabilities for short- term leases (i.e. leases of 12 months or less) and leases of low-value assets.

• The Company applied IFRS 16 effective January 1, 2019 using the modified retrospective method. Under this method, financial information will not be restated and will continue to be reported under the accounting standards in effect for those periods. The Company will recognize lease obligations related to its lease commitments for its office leases. It will be measured at the present value of the remaining lease payments, discounted using the Company’s incremental borrowing rate as at January 1, 2019. The associated right of use asset will be measured at the lease obligation amount, less prepaid lease payments, resulting in no adjustment to the opening balance of deficit. The Company has implemented the following accounting policies permitted under the new standard:

• leases of low dollar value will continue to be expensed as incurred; and

• the Company will not apply any grandfathering practical expedients.

• As at January 1, 2019 the Company recognized approximately $517,000 in right-of-use assets and $517,000 of incremental lease obligations.

• IFRIC 23 – Uncertainty Over Income Tax Treatments: clarifies how to apply the recognition and measurement requirements in IAS 12 when there is uncertainty over income tax treatments. It is effective for annual periods beginning on or after January 1, 2019 with early adoption permitted. The Company does not expect that the adoption of this standard will have a material effect on the Company’s consolidated financial statements.

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Significant Accounting Policies and Basis of Preparation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Significant Accounting Policies and Basis of Preparation [Abstract]

Schedule of Depreciation Rates Applicable

Depreciation is calculated using a straight-line method to write off the cost of the assets. The depreciation rates applicable to each category of property and equipment are as follows:

Asset	Basis	Period and Rate
Computers	Declining-balance	55%
Leasehold Improvements	Straight-line	Remaining lease term

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Cash (Tables)

12 Months Ended

Dec. 31, 2018

Cash [abstract]

Schedule of Cash

	December 31, 2018	December 31, 2017
	$	$
Cash at financial institutions	18,224,563	18,312,333
Cash held in lawyers’ trust account	109,169	146,458
	18,333,732	18,458,791

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Prepaid Expenses (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Prepaid Expenses [Abstract]

Schedule of Prepaid Expenses

	December 31, 2018	December 31, 2017
	$	$
Prepaid expenses	468,600	297,003
Deposits	21,302	22,600
	489,902	319,603

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Acquisition (Tables)

12 Months Ended

Dec. 31, 2018

Investment In Associated Company Tables Abstract

Schedule of Reconciliation of Investment

The following is a reconciliation of the Company’s investment in BMG prior to acquisition:

	$
Balance as at December 31, 2015	-
Initial investment	3,668,502
Additional investment	2,691,714
Dilution loss in BMG	(67,602	)
Equity loss in BMG	(336,467	)
Impact of share-based payment in BMG	218,874
Balance as at December 31, 2016	6,175,021
Dilution loss in BMG	(238,057	)
Equity loss in BMG	(569,398	)
Impact of share-based payment in BMG	8,962
Value of investment prior to acquisition	5,376,528

Schedule of Assets and Liabilities of Assumed on Acquistion

The assets and liabilities of BMG assumed on acquisition were as follows:

	$
Cash	1,355,706
Receivables	51,246
Held for trading investments	578
Prepaid expenses	41,758
Exploration and evaluation assets	10,189,010
Reclamation bonds	33,150
Accounts payable and accrued liabilities	(235,486	)
Loan payable	(1,550,000	)
Net assets	9,885,962

Schedule of Consideration for Acquisition

The total consideration for the acquisition was as follows:

	$
Value of investment prior to acquisition	5,376,528
Cash paid	3,956,656
Value of shares issued	24,970,694
Transaction costs	561,959
Value of replacement stock options and warrants	576,506
	35,442,343
Less: net assets	(9,885,962	)
Excess consideration paid over the net assets of BMG	25,556,381

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Exploration and Evaluation Assets (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Exploration and Evaluation Assets [Abstract]

Schedule of Expenditures for Exploration and Evaluation Assets

Expenditures for the years related to exploration and evaluation assets located in Nevada, USA were as follows:

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
	$	$	$
Balance as at December 31, 2016	93,913,136	-	93,913,136
Property acquisition and staking costs	253,744	35,745,391	35,999,135
Exploration expenses
Claim maintenance fees	369,925	79,138	449,063
Consulting	2,361,902	234,684	2,596,586
Data analysis	498,200	22,482	520,682
Drilling	11,834,010	1,299,403	13,133,413
Environmental and permitting	275,885	4,648	280,533
Equipment rental	78,392	1,849	80,241
Geological	997,238	15,275	1,012,513
Lease payments	1,487,916	109,563	1,597,479
Metallurgy	909,757	-	909,757
Sampling and processing	1,141,491	28,386	1,169,877
Site development and reclamation	1,293,953	149,086	1,443,039
Supplies	1,278,358	2,722	1,281,080
Vehicle	49,341	-	49,341
	22,830,112	37,692,627	60,522,739
Balance as at December 31, 2017	116,743,248	37,692,627	154,435,875

	Railroad-
	Pinion	Lewis Gold
	Project	Project	Total
	$	$	$
Balance as at December 31, 2017	116,743,248	37,692,627	154,435,875
Property acquisition and staking costs	4,989	-	4,989
NSR buy-down	4,427,850	-	4,427,850
Exploration expenses
Claim maintenance fees	359,532	81,528	441,060
Consulting	3,692,499	81,721	3,774,220
Data Analysis	58,172	22,282	80,454
Drilling	18,472,855	174,781	18,647,636
Engineering	134,827	-	134,827
Environmental and permitting	387,679	-	387,679
Equipment rental	127,471	491	127,962
Geological	788,032	25,554	813,586
Geotechnical	654,687	-	654,687
Hydrology	930,729	-	930,729
Lease payments	1,805,255	118,784	1,924,039
Metallurgy	551,864	-	551,864
Preliminary economic assessment	579,226	-	579,226
Provision for site reclamation	946,010	-	946,010
Sampling and processing	561,710	81,770	643,480
Site development and reclamation	5,722,669	98,297	5,820,966
Supplies	1,224,990	1,002	1,225,992
Vehicle	113,578	-	113,578
	41,544,624	686,210	42,230,834
Balance as at December 31, 2018	158,287,872	38,378,837	196,666,709

Schedule of Payment Requirements

Payment requirements from 2019 to 2023 under agreements are approximately as follows:

	Total	Total
	Work	Lease
	commitment	payment	Total
	US$	US$	US$
2019	1,300,000	1,077,000	2,377,000
2020	1,300,000	1,016,000	2,316,000
2021	1,300,000	823,000	2,123,000
2022	1,300,000	383,000	1,683,000
2023	1,300,000	383,000	1,683,000
	6,500,000	3,682,000	10,182,000

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Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about property, plant and equipment [abstract]

Property and Equipment

	Leasehold
	improvements	Computers	Total
	$	$	$
Cost:
At December 31, 2016	210,742	-	210,742
Additions	288,581	29,482	318,063
At December 31, 2017	499,323	29,482	528,805
Additions	184,435	40,805	225,240
At December 31, 2018	683,758	70,287	754,045
Depreciation:
At December 31, 2016	75,424	-	75,424
Charge for the year	40,596	4,422	45,018
At December 31, 2017	116,020	4,422	120,442
Charge for the year	141,956	36,225	178,181
At December 31, 2018	257,976	40,647	298,623
Net book value:
At December 31, 2017	383,303	25,060	408,363
At December 31, 2018	425,782	29,640	455,422

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Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Accounts Payable and Accrued Liabilities [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

	December 31, 2018	December 31, 2017
	$	$
Accounts payable	848,332	636,961
Accrued liabilities	1,101,890	1,005,138
	1,950,222	1,642,099

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Provision for Site Reclamation (Tables)

12 Months Ended

Dec. 31, 2018

Provision For Site Reclamation Tables Abstract

Schedule of Provision Site Reclamation

	Railroad-Pinion
	$
Balance as at December 31, 2016 and 2017	-
Increase in estimate	946,010
Foreign exchange adjustment	56,351
Accretion expense	2,138
Balance as at December 31, 2018	1,004,499

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Share Capital and Reserves (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of classes of share capital [line items]

Schedule of Stock Options Activities

A summary of stock option activities is as follows:

	Number of		Weighted average
	options		exercise price
			$
Outstanding at December 31, 2016	8,187,939		0.98
Exercised	(2,448,916	)	0.92
Granted	3,465,140		2.15
Expired	(105,612	)	2.57
Replacement options issued	153,089		1.67
Outstanding at December 31, 2017	9,251,640		1.43
Exercised	(2,415,666	)	0.87
Granted	2,799,256		2.10
Expired	(292,934	)	2.12
Cancelled	(25,000	)	2.11
Outstanding at December 31, 2018	9,317,296		1.75

Schedule of Fair Value of Options Granted Using Black-scholes Option Pricing Model

The fair value of options granted is estimated on the grant date using the Black-Scholes option pricing model using the following weighted average variables:

	For the year ended December 31,
	2018	2017
Risk-free interest rate	1.99%	1.53%
Expected option life in years	4 years	4.90 years
Expected stock price volatility	65%	70%
Expected dividend rate	0%	0%

Schedule of Stock Options Outstanding and Exercisable

A summary of the stock options outstanding and exercisable at December 31, 2018 is as follows:

Exercise	Number	Number
Price	Outstanding	Exercisable	Expiry Date
$
0.77	705,000	705,000	September 12, 2019
0.73	2,225,000	2,225,000	November 27, 2020
3.16	507,500	507,500	September 29, 2021
2.24	325,000	325,000	June 1, 2022
2.12	2,280,540	1,520,360	August 1, 2022
2.25	600,000	400,000	September 12, 2022
1.96	100,000	33,333	January 15, 2023
2.11	2,314,256	771,419	March 5, 2023
2.11	100,000	33,333	April 27, 2023
1.96	160,000	53,333	September 14, 2023
	9,317,296	6,574,278

XML

Segmented Information (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of operating segments [abstract]

Schedule of Geographic Information

Geographic information is as follows:

	As at December 31, 2018
	Canada	US	Total
	$	$	$
Reclamation bonds	-	2,154,027	2,154,027
Property and equipment	67,636	387,786	455,422
Exploration and evaluation assets	-	196,666,709	196,666,709
	67,636	199,208,522	199,276,158
	As at December 31, 2017
	Canada	US	Total
	$	$	$
Reclamation bonds	-	1,248,817	1,248,817
Property and equipment	94,722	313,641	408,363
Exploration and evaluation assets	-	154,435,875	154,435,875
	94,722	155,998,333	156,093,055

XML

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2018

Related party transactions [abstract]

Schedule of Key Management Personnel Compensation

The Company has determined that key management personnel consists of members of the Board and corporate officers, including the Company’s Chief Executive Officer and Chief Financial Officer.

	For the year ended December 31,
	2018	2017
	$	$
Management fees	1,360,539	1,750,691
Professional fees	266,150	187,000
Exploration and evaluation assets expenditures	129,872	353,520
Wages and salaries	22,919	43,633
Share-based compensation	2,312,347	2,228,191
	4,091,827	4,563,035

XML

Commitments (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Commitments [Abstract]

Schedule of Commitments for Office Leases

Summary of commitments for office leases:

	Vancouver
	Office	Elko Office	Total
	$	$	$
Payable not later than one year	73,608	141,877	215,485
Payable later than one year and not later than five years	24,536	417,445	441,981
Payable later than five years	-	-	-
Total	98,144	559,322	657,466

XML

Supplementary Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Supplementary Cash Flow Information [Abstract]

Schedule of Non-cash Transactions

	For the year ended December 31,
	2018	2017
	$	$
Non-cash transactions
Exploration and evaluation assets expenditures in accounts payable at year end	1,355,658	626,913
Shares issued for acquisition of exploration and evaluation assets	-	24,970,694
Reclassification of cancelled stock options	57,591	227,836
Reclassification of expired stock options	166,715	183,406
Reclassification of stock options exercised	1,641,078	1,782,269
Replacement options and warrants issued	-	576,506
Reclassification of investment in associated company to
exploration and evaluation assets	-	5,376,528
Provision for site reclamation	946,010	-

XML

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Major components of tax expense (income) [abstract]

Schedule of Reconciliation of Combined Canadian Federal And Provincial Income Tax Rate

The reconciliation of the combined Canadian federal and provincial income tax rate to the income tax recovery presented in the accompanying statements of comprehensive loss is provided below:

	Years ended December 31,
	2018		2017
	$		$
Loss before income taxes	(10,238,910	)	(11,426,786	)
Expected income tax recovery at statutory tax rates	(2,765,000	)	(2,971,000	)
Impact of different statutory tax rates on earnings of subsidiaries	258,000		(1,169,000	)
Change in statutory, foreign tax rates and other	(110,000	)	5,968,000
Foreign exchange	(3,063,000	)	2,390,000
Non-deductible expenditures	666,000		4,147,000
Share issuance costs	(834,000	)	-
Adjustment in prior years provision statutory tax returns and expiry of non-
capital losses	591,000		56,000
Change in unrecognized deductible temporary differences and others	5,257,000		(8,421,000	)
Total	-		-

Schedule of Components of Deferred Tax Assets

Significant components of deferred tax assets that have not been recognized are as follows:

	As of December 31,
	2018	2017
	$	$
Share issuance costs	1,167,000	900,000
Non-capital losses	12,987,000	9,489,000
Provision for site reclamation	211,000	-
Allowable capital losses	43,000	-
Property and equipment	95,000	103,000
Exploration and evaluation assets	6,035,000	4,787,000
Total	20,538,000	15,279,000

Schedule of Unrecognized Deductible Temporary Differences and Unused Tax Losses

Significant components of unrecognized deductible temporary differences and unused tax losses that have not been recognized on the statements of financial position are as follows:

	As of December 31,
	2018	Expiry dates	2017	Expiry dates
	$		$
Share issuance costs	4,321,000	2019 to 2022	3,335,000	2018 to 2020
Non-capital losses	54,963,000	2027 to 2038	40,845,000	2027 to 2037
Provision for site reclamation	1,004,000	No Expiry	-	No Expiry
Capital losses	159,000	No Expiry	-	No Expiry
Property and equipment	332,000	No Expiry	385,000	No Expiry
Exploration and evaluation assets	27,259,000	No Expiry	21,480,000	No Expiry

XML

Significant Accounting Policies and Basis of Preparation (Schedule of Depreciation Rates Applicable) (Details)	12 Months Ended
	Dec. 31, 2018
Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Basis	Declining-balance
Period and Rate	55%
Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Basis	Straight-line
Period and Rate	Remaining lease term

XML

Significant Accounting Policies and Basis of Preparation (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jan. 02, 2019
Disclosure of associates [line items]
Potentially dilutive options and warrants excluded from diluted loss per share	9,317,296	9,251,640
Non-adjusting events after reporting period [member]
Disclosure of associates [line items]
Right-of-use assets			$ 517,000
Incremental lease obligations			$ 517,000

XML

Cash (Schedule of Cash) (Details) - CAD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash [abstract]
Cash at financial institutions	$ 18,224,563	$ 18,312,333
Cash held in lawyers' trust account	109,169	146,458
Total Cash	$ 18,333,732	$ 18,458,791

XML

Prepaid Expenses (Schedule of Prepaid Expenses) (Details) - CAD ($)	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Prepaid Expenses [Abstract]
Prepaid expenses	$ 468,600	$ 297,003
Deposits	21,302	22,600
Total current prepaid expenses	$ 489,902	$ 319,603

XML

Investments (Details) - CAD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2017	Dec. 31, 2018	Dec. 31, 2017
Disclosure of associates [line items]
Amount of share acquired			$ 300,000
Fair value of investment			306,000
Unrealized gain		(88,332)
Unrealized loss		88,929
Proceeds from sale of securities		220,703
Contact Gold Corp [Member]
Disclosure of associates [line items]
Number of shares acquired	600,000
Amount of share acquired	$ 300,000
Certain Marketable Securities [Member]
Disclosure of associates [line items]
Fair value of investment			$ 3,035
Unrealized gain		597
BMG [Member]
Disclosure of associates [line items]
Proceeds from sale of securities		217,071
Gain on sale securities		$ 3,632

XML

Acquisition (Narrative) (Details)		1 Months Ended				3 Months Ended	12 Months Ended
	May 06, 2016 $ / shares shares	Jun. 30, 2017 CAD ($) shares	Apr. 30, 2017 $ / shares shares	Aug. 30, 2016 USD ($) shares	Aug. 30, 2016 CAD ($) shares	Aug. 31, 2016	Dec. 31, 2018 CAD ($)	Dec. 31, 2017 CAD ($)	Dec. 31, 2016 CAD ($) shares
Disclosure of detailed information about business combination [line items]
Value of Common share							$ 48,907,549
Proceeds from exercise of warrants								$ 251,505
BMG [Member]
Disclosure of detailed information about business combination [line items]
Acquired Units | shares	10,481,435
Unit price | $ / shares	$ 0.35
Total subscription									$ 3,668,502
Per share price | $ / shares	$ 0.37		$ 0.08
Percentage acquired of outstanding shares									27.58%
Royalty payment					$ 1,850,000
Cash paid					$ 1,197,598
Common share issued | shares		9,352,320		532,864	532,864				885,468
Value of Common share		$ 24,970,694			$ 1,678,522				$ 752,649
Warrant exercised | shares				5,240,717	5,240,717
Warrant exercised in lieu of common shares | shares				5,240,717	5,240,717
Proceeds from exercise of warrants					$ 1,939,065
Number of common share acquired | shares	5,240,717		0.1891						16,607,620
Loss on settlement of Advance									$ 184,406
Market value of shares									$ 5,314,438
Payment for share acquired		$ 3,956,656
Value of replacement stock options and warrants							576,506
Transaction costs							$ 561,959
BMG [Member] | USD [Member]
Disclosure of detailed information about business combination [line items]
Cash paid				$ 925,000
BMG [Member] | Bottom of range [Member]
Disclosure of detailed information about business combination [line items]
Reduce in percentage of royalty rate						5.00%
BMG [Member] | Top of range [Member]
Disclosure of detailed information about business combination [line items]
Reduce in percentage of royalty rate						3.50%

XML

Acquisition (Schedule of Reconciliation of Investment) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of detailed information about business combination [line items]
Equity loss in BMG		$ (807,455)
Impact of share based payment in BMG		8,962
BMG [Member]
Disclosure of detailed information about business combination [line items]
Begining Balance	$ 5,376,528	6,175,021
Initial investment			3,668,502
Additional investment			2,691,714
Dilution loss in BMG		(238,057)	(67,602)
Equity loss in BMG		(569,398)	(336,467)
Impact of share based payment in BMG		8,962	218,874
Value of investment prior to acquisition		$ 5,376,528	$ 6,175,021

XML

Acquisition (Schedule of Assets and Liabilities of Assumed on Acquistion) (Details) - CAD ($)	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about business combination [line items]
Prepaid expenses	$ 489,902	$ 319,603
Reclamation bonds	2,154,027	$ 1,248,817
BMG [Member]
Disclosure of detailed information about business combination [line items]
Cash	1,355,706
Receivables	51,246
Held for trading investments	578
Prepaid expenses	41,758
Exploration and evaluation assets	10,189,010
Reclamation bonds	33,150
Accounts payable and accrued liabilities	(235,486)
Loan payable	(1,550,000)
Net assets	$ 9,885,962

XML

Acquisition (Schedule of consideration for the acquisition) (Details) - BMG [Member]	Dec. 31, 2018 CAD ($)
Disclosure of detailed information about business combination [line items]
Value of investment prior to acquisition	$ 5,376,528
Cash paid	3,956,656
Value of shares issued	24,970,694
Transaction costs	561,959
Value of replacement stock options and warrants	576,506
Gross consideration	35,442,343
Less: net assets	(9,885,962)
Excess consideration paid over the net assets of BMG	$ 25,556,381

XML

Exploration and Evaluation Assets (Railroad-Pinion Project) (Narrative) (Details) - CAD ($)	1 Months Ended														8 Months Ended	12 Months Ended
	Jan. 31, 2019	May 31, 2018	Mar. 31, 2018	Jan. 31, 2018	Mar. 31, 2017	Jan. 31, 2015	Sep. 30, 2014	Mar. 31, 2014	Jul. 31, 2013	Dec. 31, 2012	Nov. 30, 2012	Oct. 31, 2012	Apr. 30, 2011	Aug. 31, 2009	May 31, 2012	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of quantitative information about right-of-use assets [line items]
Annual lease payment																$ 3,682,000
Annual work commitment																6,500,000
Value of Common share																48,907,549
Newmont USA Limited [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Annual lease payment	$ 33,600															$ 50,000	50,000
Annual work commitment	$ 300,000
Buy-down option [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Annual lease payment		$ 300,000	$ 3,500,000
Buy-down option [Member] | Bottom of range [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)		5.00%	5.00%
Buy-down option [Member] | Top of range [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)		2.00%	2.00%
Tomera Mining Lease [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)														5.00%
Annual lease payment																	$ 96,887	$ 87,137
Sylvania Mining Lease Agreement [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)														5.00%
Annual lease payment														$ 20,000
Lease expiring														December 2021
RSM [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)														1.00%
Royal Standard Minerals, Inc
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of interest acquired														100.00%
Aladdin Sweepstakes Lease [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Amount of interest acquired														$ 2,965,000
Net Smelter Royalty (NSR)														1.00%
Kennecott Holdings Corporation [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of mineral production royalty payable														1.50%
Newmont USA Limited [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of interest acquired													100.00%
Net Smelter Royalty (NSR)													5.00%
Annual lease payment													$ 39,680
Percentage of Claims (NSR)													3.00%
Percentage of Lease (NSR)													1.00%
Percentage of joint venture													70.00%
Newmont USA Limited [Member] | First Back [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of interest in lease													51.00%
Pecentage of expenditure													150.00%
Newmont USA Limited [Member] | Second Back [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of interest in lease													19.00%
Pecentage of expenditure													100.00%
Parent Company [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of joint venture													30.00%
Pinion Project [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Amount of interest acquired																		$ 279,000
Net Smelter Royalty (NSR)				3.00%	3.50%	3.00%			4.00%	4.00%	5.00%	4.00%			5.00%			3.00%
Annual lease payment				$ 10,000	$ 75,000	$ 8,000	$ 30,000		$ 25,000	$ 20,000	$ 175,000	$ 15,000						$ 16,500
Percentage of interest in lease				100.00%	100.00%	100.00%	100.00%		100.00%	100.00%	100.00%	100.00%						100.00%
Percentage of Claims (NSR)															100.00%
Percentage of Lease (NSR)															80.00%
Lease term				10 Years		10 Years	10 Years		10 Years	10 Years	12 years	10 Years			lease term of ten years with an option to extend the lease term for an additional ten years.			10 Years
Option to purchase property					$ 2,000,000	$ 150,000	$ 1,500,000		$ 1,250,000	$ 1,000,000	$ 25,000,000	$ 1,500,000						$ 800,000
Initial amount paid				$ 10,000	75,000						$ 1,000,000
Percentage of annual lease payments increase each year											5.00%
Amount required to spend per year on exploration of lease term											$ 1,000,000
Percentage of buy-down option											3.00%
Percentage of initial amount credited towards purchase price											70.00%
Percentage of annual lease payment credited against furture NSR Payment											70.00%
Pinion Project [Member] | Six to Nine [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)							4.00%
Annual lease payment				$ 30,000		20,000	$ 90,000		43,750	35,000		50,000						31,000
Pinion Project [Member] | One through Six [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Option to purchase property											$ 3,500,000
Pinion Project [Member] | Seven through Twelve [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Option to purchase property											7,000,000
Pinion Project [Member] | Second Back [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Annual lease payment										$ 50,000
Lease term										10 Years
Pinion Project [Member] | Additional Lease [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Annual lease payment					$ 75,000	$ 25,000	$ 100,000		$ 62,500		$ 500,000	$ 75,000						$ 31,000
Lease term					10 Years	10 Years	10 Years		10 Years		10 Years	10 Years						10 Years
Initial amount paid											$ 1,000,000
Percentage of annual lease payments increase each year											5.00%
Pinion Project [Member] | Surface Agreement [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Annual lease payment					$ 9,000							$ 20,103
Lease term					10 Years							10 Years
Option to purchase property												$ 8,934,640
Pinion Project [Member] | Buy-down option [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Option to purchase property						$ 150,000	$ 1,000,000		$ 2,000,000	$ 2,000,000								$ 1,100,000
Percentage of buy-down option						1.00%	1.00%		2.00%	2.00%								1.00%
Pinion Project [Member] | Buy-down option [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Option to purchase property						$ 250,000	$ 1,500,000		$ 1,000,000	$ 1,500,000
Percentage of buy-down option						1.00%	1.00%		1.00%	1.00%
Pinion Gold Deposit [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Amount of interest acquired								$ 8,500,000
Net Smelter Royalty (NSR)								5.00%
Annual lease payment								$ 47,931
Common share issued								6,750,000
Value of Common share								$ 4,807,500
Sale majority for cosideration								100,000,000
Pinion Gold Deposit [Member] | Additional Cash Consideration [Member] | Bottom of range [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Amount of interest acquired								1,500,000
Pinion Gold Deposit [Member] | Additional Cash Consideration [Member] | Top of range [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Amount of interest acquired								$ 3,000,000

XML

Exploration and Evaluation Assets (Lewis Gold Project) (Narrative) (Details)	12 Months Ended
	Dec. 31, 2018 CAD ($)
BMG [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Percentage of interest acquired	100.00%
Lewis Gold Project [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Minimum annual royalty amount	$ 60,000
Lewis Gold Project [Member] | Gold and Silver [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)	3.50%
Lewis Gold Project [Member] | Other Minerals[Member]
Disclosure of quantitative information about right-of-use assets [line items]
Net Smelter Royalty (NSR)	4.00%

XML

Exploration and Evaluation Assets (Schedule of Expenditures for Exploration and Evaluation Assets) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of quantitative information about right-of-use assets [line items]
Balance Begining	$ 154,435,875	$ 93,913,136
Property acquisition and staking costs	4,989	35,999,135
NSR buy-down	4,427,850
Exploration expenses
Claim maintenance fees	441,060	449,063
Consulting	3,774,220	2,596,586
Data analysis	80,454	520,682
Drilling	18,647,636	13,133,413
Engineering	134,827
Environmental and permitting	387,679	280,533
Equipment rental	127,962
Geological	813,586	80,241
Geotechnical	654,687
Hydrology	930,729
Lease payments	1,924,039	1,012,513
Metallurgy	551,864	1,597,479
Preliminary economic assessment	579,226
Provision for site reclamation	946,010
Sampling and processing	643,480	909,757
Site development and reclamation	5,820,966	1,169,877
Supplies	1,225,992	1,443,039
Travel		1,281,080
Vehicle	113,578	49,341
Total Exploration expenses	42,230,834	60,522,739
Balance Ending	196,666,709	154,435,875
Railroad-Pinion Project [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Balance Begining	116,743,248	93,913,136
Property acquisition and staking costs	4,989	253,744
NSR buy-down	4,427,850
Exploration expenses
Claim maintenance fees	359,532	369,925
Consulting	3,692,499	2,361,902
Data analysis	58,172	498,200
Drilling	18,472,855	11,834,010
Engineering	134,827
Environmental and permitting	387,679	275,885
Equipment rental	127,471
Geological	788,032	78,392
Geotechnical	654,687
Hydrology	930,729
Lease payments	1,805,255	997,238
Metallurgy	551,864	1,487,916
Preliminary economic assessment	579,226
Provision for site reclamation	946,010
Sampling and processing	561,710	909,757
Site development and reclamation	5,722,669	1,141,491
Supplies	1,224,990	1,293,953
Travel		1,278,358
Vehicle	113,578	49,341
Total Exploration expenses	41,544,624	22,830,112
Balance Ending	158,287,872	116,743,248
Lewis Gold Project [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Balance Begining	37,692,627
Property acquisition and staking costs		35,745,391
NSR buy-down
Exploration expenses
Claim maintenance fees	81,528	79,138
Consulting	81,721	234,684
Data analysis	22,282	22,482
Drilling	174,781	1,299,403
Engineering
Environmental and permitting		4,648
Equipment rental	491
Geological	25,554	1,849
Geotechnical
Hydrology
Lease payments	118,784	15,275
Metallurgy		109,563
Preliminary economic assessment
Provision for site reclamation
Sampling and processing	81,770
Site development and reclamation	98,297	28,386
Supplies	1,002	149,086
Travel		2,722
Vehicle
Total Exploration expenses	686,210	37,692,627
Balance Ending	$ 38,378,837	$ 37,692,627

XML

Exploration and Evaluation Assets (Schedule of Payment Requirements ) (Details)	12 Months Ended
	Dec. 31, 2018 CAD ($)
Disclosure of maturity analysis of operating lease payments [line items]
Total work commitment	$ 6,500,000
Total Lease payment	3,682,000
Total	10,182,000
2019 [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Total work commitment	1,300,000
Total Lease payment	1,077,000
Total	2,377,000
2020 [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Total work commitment	1,300,000
Total Lease payment	1,016,000
Total	2,316,000
2021 [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Total work commitment	1,300,000
Total Lease payment	823,000
Total	2,123,000
2022 [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Total work commitment	1,300,000
Total Lease payment	383,000
Total	1,683,000
2023 and onward [Member]
Disclosure of maturity analysis of operating lease payments [line items]
Total work commitment	1,300,000
Total Lease payment	383,000
Total	$ 1,683,000

XML

Reclamation Bonds (Details)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CAD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CAD ($)
Statement Line Items [Line Items]
Reclamation bonds		$ 2,154,027		$ 1,248,817
USD [Member]
Statement Line Items [Line Items]
Reclamation bonds	$ 1,581,158		$ 965,471

XML

Property and Equipment (Schedule of Property and Equipment) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	$ 408,363
Ending Balance	455,422	$ 408,363
Cost [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	528,805	210,742
Additions	225,240	318,063
Ending Balance	754,045	528,805
Cost [Member] | Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	499,323	210,742
Additions	184,435	288,581
Ending Balance	683,758	499,323
Cost [Member] | Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	29,482
Additions	40,805	29,482
Ending Balance	70,287	29,482
Depreciation [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	120,442	75,424
Charge for the year	178,181	45,018
Ending Balance	298,623	120,442
Depreciation [Member] | Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	116,020	75,424
Charge for the year	141,956	40,596
Ending Balance	257,976	116,020
Depreciation [Member] | Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	4,422
Charge for the year	36,225	4,422
Ending Balance	40,647	4,422
Net Book Value [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	408,363
Ending Balance	455,422	408,363
Net Book Value [Member] | Leasehold Improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	383,303
Ending Balance	425,782	383,303
Net Book Value [Member] | Computers [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning Balance	25,060
Ending Balance	$ 29,640	$ 25,060

XML

Accounts Payable and Accrued Liabilities (Schedule of Accounts Payable and Accrued Liabilities) (Details) - CAD ($)	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable	$ 848,332	$ 636,961
Accrued liabilities	1,101,890	1,005,138
Total accounts payable and accrued liabilities	$ 1,950,222	$ 1,642,099

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Provision for Site Reclamation (Narrative) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Provision For Site Reclamation Narrative
Inflation rate	2.16%
Discount rate	3.09%
Undiscounted uninflated value of the cash flows	$ 1,138,149
Period of undiscounted uninflated value of the cash flows required to settle provision	20 years

XML

Provision for Site Reclamation (Schedule of Provision for Site Reclamation) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Provision For Site Reclamation Schedule Of Provision For Site Reclamation
Balance as at December 31, 2016 and 2017
Increase in estimate	946,010
Foreign exchange adjustment	56,351
Accretion expense	2,138
Balance as at December 31, 2018	$ 1,004,499

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Share Capital and Reserves (Narrative) (Details)	1 Months Ended					12 Months Ended
	Sep. 30, 2018 CAD ($) $ / shares shares	Mar. 31, 2018 CAD ($) shares	Feb. 28, 2018 CAD ($) $ / shares shares	Jul. 31, 2017 CAD ($) shares	Jun. 30, 2017 CAD ($) shares	Dec. 31, 2018 CAD ($) shares	Dec. 31, 2017 CAD ($) shares
Disclosure of classes of share capital [line items]
Proceeds from common share						$ 48,907,549
Proceeds from Warrants exercise							$ 251,505
Risk-free rate						1.99%	1.53%
Volatility						65.00%	70.00%
Stock option, granted | shares						2,799,256	3,465,140
Weighted average exercise price						$ 0.87	$ 0.92
Stock option, Exercise | shares						2,415,666	2,448,916
Proceeds from Stock options						$ 2,113,632	$ 2,245,788
Fair value of stock options							$ 4,264,487
Stock option, Expired | shares						292,934	105,612
Stock option, Cancelled | shares						(25,000)
Replacement option issued | shares							153,089
Stock option expense						$ 3,227,899	$ 3,136,225
Warrant [Member]
Disclosure of classes of share capital [line items]
Weighted average exercise price					$ 1.15
BMG [Member]
Disclosure of classes of share capital [line items]
Common share issued | shares				218,700	9,352,320
Proceeds from common share					$ 24,970,694
Proceeds from Warrants exercise				$ 251,505
Replacement warrants issued | shares				218,700	218,700
Replacement warrants value					$ 332,551
Risk-free rate					0.56%
Forfeiture rate					0.00%
Volatility					52.00%
Fair value of warrants				$ 332,551
Weighted average exercise price					$ 1.67
Fair value of stock options					$ 243,955
Replacement option issued | shares					153,089
Stock Option [Member]
Disclosure of classes of share capital [line items]
Common share issued | shares						2,415,666	2,448,916
Stock option, granted | shares						2,799,256	3,465,140
Weighted average exercise price
Fair value of option
Stock price per option
Stock option, Exercise | shares						2,415,666	2,448,916
Proceeds from Stock options						$ 2,113,632	$ 2,245,788
Fair value of stock options						$ 1,641,078	$ 1,782,269
Stock option, Expired | shares						292,934	105,612
Stock option, Cancelled | shares						25,000
Stock option, Cancelled | shares
Fair value transferred from reserves to deficit						$ 224,306	$ 183,406
Replacement option issued | shares							87,477
Replacement option Expired | shares							65,612
Stock Option One [Member]
Disclosure of classes of share capital [line items]
Stock option, granted | shares						100,000
Weighted average exercise price						$ 1.96
Fair value of stock options						$ 102,519
Stock Option Two [Member]
Disclosure of classes of share capital [line items]
Stock option, granted | shares						2,439,256
Weighted average exercise price						$ 2.11
Fair value of stock options						$ 2,599,050
Stock Option Three [Member]
Disclosure of classes of share capital [line items]
Stock option, granted | shares						100,000
Weighted average exercise price						$ 2.11
Fair value of stock options						$ 105,740
Stock Option Four [Member]
Disclosure of classes of share capital [line items]
Stock option, granted | shares						160,000
Weighted average exercise price						$ 1.96
Fair value of stock options						156,288
Restricted Share Unit (RSU) [Member]
Disclosure of classes of share capital [line items]
Common Stock reserved for issue | shares							5,000,000
Private Placement [Member]
Disclosure of classes of share capital [line items]
Common share issued | shares	5,230,901		18,626,440
Price per share | $ / shares	$ 2.05		$ 2.05
Proceeds from common share	$ 10,723,347		$ 38,184,202
Net of cash commissions and expenses	$ 466,386		$ 2,623,077
Officers and directors [Member]
Disclosure of classes of share capital [line items]
Stock option, granted | shares		567,110
Option term		The restricted share units issued to officers of the Company vest one-third every year. The directors of the Company, who have been granted restricted share units, have the entitlement to have one-third of the grant vest every year. However, the restricted share units will vest only when the director’s position on the Board has been terminated.
Fair value of stock options		$ 1,196,602
Stock option expense						$ 654,127

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Share Capital and Reserves (Schedule of Fair Value of Options Granted Using Black-scholes Option Pricing Model) (Details) - yr	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of classes of share capital [abstract]
Risk-free interest rate	1.99%	1.53%
Expected option life in years	4	4.90
Expected stock price volatility	65.00%	70.00%
Expected dividend rate	0.00%	0.00%

XML

Share Capital and Reserves (Schedule of Stock Options Activities) (Details)	12 Months Ended
	Dec. 31, 2018 CAD ($) shares	Dec. 31, 2017 CAD ($) shares
Disclosure of classes of share capital [abstract]
Outstanding at December 31, 2018 | shares	9,251,640	8,187,939
Exercised | shares	(2,415,666)	(2,448,916)
Granted | shares	2,799,256	3,465,140
Expired | shares	(292,934)	(105,612)
Cancelled | shares	(25,000)
Replacement Option issued | shares		153,089
Outstanding at December 31, 2018 | shares	9,317,296	9,251,640
Weighted average exercise price outstanding at December 31, 2018 | $	$ 1.43	$ 0.98
Exercised | $	0.87	0.92
Granted | $	2.1	2.15
Expired | $	2.12	2.57
Cancelled | $	2.11
Replacement Option issued | $		1.67
Weighted average exercise price outstanding at December 31, 2018 | $	$ 1.75	$ 1.43

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Share Capital and Reserves (Schedule of Stock Options Outstanding and Exercisable) (Details)	12 Months Ended
	Dec. 31, 2018 CAD ($) shares	Dec. 31, 2017 shares	Dec. 31, 2016 shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number outstanding	9,317,296	9,251,640	8,187,939
Number Exercisable	6,574,278
0.77 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 0.77
Number outstanding	705,000
Number Exercisable	705,000
Expiry Date	September 12, 2019
0.73 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 0.73
Number outstanding	2,225,000
Number Exercisable	2,225,000
Expiry Date	November 27, 2020
3.16 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 3.16
Number outstanding	507,500
Number Exercisable	507,500
Expiry Date	September 29, 2021
2.24 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 2.24
Number outstanding	325,000
Number Exercisable	325,000
Expiry Date	June 1, 2022
2.12 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 2.12
Number outstanding	2,280,540
Number Exercisable	1,520,360
Expiry Date	August 1, 2022
2.25 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 2.25
Number outstanding	600,000
Number Exercisable	400,000
Expiry Date	September 12, 2022
1.96 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 1.96
Number outstanding	100,000
Number Exercisable	33,333
Expiry Date	January 15, 2023
2.11 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 2.11
Number outstanding	2,314,256
Number Exercisable	771,419
Expiry Date	March 5, 2023
2.11 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 2.11
Number outstanding	100,000
Number Exercisable	33,333
Expiry Date	April 27, 2023
1.96 [Member]
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | $	$ 1.96
Number outstanding	160,000
Number Exercisable	53,333
Expiry Date	September 14, 2023

XML

Segmented Information (Schedule of Geographic Information) (Details) - CAD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of geographical areas [line items]
Reclamation bonds	$ 2,154,027	$ 1,248,817
Property and equipment	455,422	408,363
Exploration and evaluation assets	196,666,709	154,435,875	$ 93,913,136
Total acquisition and exploration of exploration and evaluation assets	199,276,158	156,093,055
Canada [Member]
Disclosure of geographical areas [line items]
Reclamation bonds
Property and equipment	67,636	94,722
Exploration and evaluation assets
Total acquisition and exploration of exploration and evaluation assets	67,636	94,722
US [Member]
Disclosure of geographical areas [line items]
Reclamation bonds	2,154,027	1,248,817
Property and equipment	387,786	313,641
Exploration and evaluation assets	196,666,709	154,435,875
Total acquisition and exploration of exploration and evaluation assets	$ 199,208,522	$ 155,998,333

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Related Party Transactions (Narriative) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Prepaid expenses	$ 297,003	$ 468,600
Directors [Member]
Disclosure of transactions between related parties [line items]
Accounts payable and accrued liabilities	640,573	296,702
Prepaid expenses	7,000
Termination payment	384,902
Rent received	$ 4,500	$ 18,000

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Related Party Transactions (Schedule of Key Management Personnel Compensation) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Management fees	$ 1,360,539	$ 1,750,691
Consulting fees	991,491	555,765
Professional fees	1,371,574	997,809
Exploration and evaluation assets expenditures	42,230,834	60,522,739
Wages and salaries	593,241	390,694
Key Management Personnel [Memeber]
Disclosure of transactions between related parties [line items]
Management fees	1,360,539	1,750,691
Professional fees	266,150	187,000
Exploration and evaluation assets expenditures	129,872	353,520
Wages and salaries	22,919	43,633
Share-based compensation	2,312,347	2,228,191
Total of key management personnel compensation	$ 4,091,827	$ 4,563,035

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Financial Instruments and Risk Management (Details)	12 Months Ended
	Dec. 31, 2018 CAD ($)
Disclosure of detailed information about financial instruments [abstract]
Foreign currency net monetary asset position	$ 5,760,000
Each 1% change in US dollar to Canadian dollar foreign exchange gain/loss	$ 57,600

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Commitments (Narrative) (Details)	1 Months Ended	12 Months Ended
	Aug. 31, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CAD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CAD ($)
Directors [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum monthly payments			$ 50,750
USD [Member] | Employees [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum monthly payments		$ 31,767
USD [Member] | Officer [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum monthly payments		$ 19,167
Eiko Office [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Lease Expired	August 28, 2022
Option to purchase property					$ 1,100,000
Eiko Office [Member] | USD [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum monthly payments	$ 8,000			$ 10,000
Vancouver Office [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Minimum monthly payments			$ 6,000
Lease Expired		April 30, 2020	April 30, 2020

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Commitments (Schedule of Commitments for Office Leases) (Details)	Dec. 31, 2018 CAD ($)
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	$ 657,466
2019 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	215,485
Payable later than one year and not later than five years [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	441,981
Payable later than five years [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease
Vancouver Office [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	98,144
Vancouver Office [Member] | 2019 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	73,608
Vancouver Office [Member] | Payable later than one year and not later than five years [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	24,536
Vancouver Office [Member] | Payable later than five years [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease
Eiko Office [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	559,322
Eiko Office [Member] | 2019 [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	141,877
Eiko Office [Member] | Payable later than one year and not later than five years [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease	417,445
Eiko Office [Member] | Payable later than five years [Member]
Disclosure of finance lease and operating lease by lessee [line items]
Commitment for lease

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Supplementary Cash Flow Information (Schedule of Non-cash Transactions) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Non-cash transactions
Exploration and evaluation assets expenditures in accounts payable at year end	$ 1,355,658	$ 626,913
Shares issued for acquisition of exploration and evaluation assets		24,970,694
Reclassification of cancelled stock options	57,591	227,836
Reclassification of expired stock options	166,715	183,406
Reclassification of stock options exercised	1,641,078	1,782,269
Replacement options and warrants issued		576,506
Reclassification of investment in associated company to exploration and evaluation assets		5,376,528
Provision for site reclamation	$ 946,010

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Income Taxes (Schedule of Reconciliation of Combined Canadian Federal And Provincial Income Tax Rate) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Major components of tax expense (income) [abstract]
Loss before income taxes	$ (10,238,910)	$ (11,426,786)
Expected income tax recovery at statutory tax rates	(2,765,000)	(2,971,000)
Impact of different statutory tax rates on earnings of subsidiaries	258,000	(1,169,000)
Change in statutory, foreign tax rates and other	(110,000)	5,968,000
Foreign exchange	(3,063,000)	2,390,000
Non-deductible expenditures	666,000	4,147,000
Share issuance costs	(834,000)
Adjustment in prior years provision statutory tax returns and expiry of non-capital losses	591,000	56,000
Change in unrecognized deductible temporary differences and others	5,257,000	(8,421,000)
Total

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Income Taxes (Schedule of Components of Deferred Tax Assets) (Details) - CAD ($)	Dec. 31, 2018	Dec. 31, 2017
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 20,538,000	$ 15,279,000
Share issuance costs [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	1,167,000	900,000
Non-capital losses [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	12,987,000	9,489,000
Provision for site reclamation [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	211,000
Allowable Capital losses [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	43,000
Property and equipment [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	95,000	103,000
Exploration and evaluation assets [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 6,035,000	$ 4,787,000

XML

Income Taxes (Schedule of Unrecognized Deductible Temporary Differences and Unused Tax Losses) (Details) - CAD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share issuance costs [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deductible temporary differences and unused tax losses	$ 4,321,000	$ 3,335,000
Expiry date	2019 to 2022	2018 to 2020
Non-capital losses [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deductible temporary differences and unused tax losses	$ 54,963,000	$ 40,845,000
Expiry date	2027 to 2038	2027 to 2037
Provision for site reclamation [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deductible temporary differences and unused tax losses	$ 1,004,000
Expiry date	No Expiry	No Expiry
Capital losses [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deductible temporary differences and unused tax losses	$ 159,000
Expiry date	No Expiry	No Expiry
Property and equipment [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deductible temporary differences and unused tax losses	$ 332,000	$ 385,000
Expiry date	No Expiry	No Expiry
Exploration and evaluation assets [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized deductible temporary differences and unused tax losses	$ 27,259,000	$ 21,480,000
Expiry date	No Expiry	No Expiry

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Subsequent Event (Details)	1 Months Ended			12 Months Ended
	Mar. 31, 2019 CAD ($) shares	Jan. 31, 2019 CAD ($) shares	Mar. 31, 2018 shares	Dec. 31, 2018 CAD ($) shares	Dec. 31, 2017 CAD ($) shares
Disclosure of non-adjusting events after reporting period [line items]
Stock options granted				2,799,256	3,465,140
Stock option expired unvested				292,934	105,612
Share option, exercised				2,415,666	2,448,916
Proceeds from exercise of option | $				$ 2,113,632	$ 2,245,788
Officers and directors [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock options granted			567,110
Option term			The restricted share units issued to officers of the Company vest one-third every year. The directors of the Company, who have been granted restricted share units, have the entitlement to have one-third of the grant vest every year. However, the restricted share units will vest only when the director’s position on the Board has been terminated.
Officers, directors, employees and consultants [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock options granted		1,821,424
Exercise price | $		$ 1.74
Option term		Option exercisable for a period of 5 years vesting one-third immediately and one-third every year thereafter.
Stock option expired unvested		50,000
Restricted Share Unit (RSU) [Member] | Officers and directors [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock options granted		664,730
Officer [Member]
Disclosure of non-adjusting events after reporting period [line items]
Stock options granted	50,000
Exercise price | $	$ 1.49
Option term	Option exercisable for a period of 5 years vesting one-third immediately and one-third every year thereafter.
Share option, exercised	120,000
Proceeds from exercise of option | $	$ 88,400