Lake Shore Gold Audit

Published on March 15, 2021

As you may be aware, the Canada Revenue Agency (CRA) has reassessed Lake Shore Gold Corp. (our subsidiary) to deny certain Canadian exploration expenses (CEE) incurred in 2014 and 2015. The CRA reassessment reduces the amount of CEE that was renounced to you effective December 31, 2014.

We are actively disputing the CRA proposal and have filed a Notice of Objection on July 21, 2021. We understand that the CRA has nonetheless sent out Notices of Reassessment to affected subscribers.

This website contains important information and procedures you should follow when you receive a Notice of Reassessment. It is divided into three sections. We ask that you carefully read and follow the directions set out in the section that applies to you.

If none of the sections apply to you, or you have any further questions about the information and procedures, please contact your legal or tax advisor.

Update May 2023

The CRA proposal remains under active dispute with the CRA, and the appeal process can be quite lengthy. If you hear otherwise from any source, including the CRA, please direct them to this website for clarification.

Temex Resources AudiT

Published on March 23, 2021

As you may be aware, the Canada Revenue Agency (CRA) has reassessed Temex Resources Corp. to deny certain Canadian exploration expenses (CEE) incurred in 2014 and 2015. The CRA reassessment reduces the amount of CEE that was renounced to you effective December 31, 2014.

Temex Resources Corp. is a predecessor of our subsidiary Lake Shore Gold Corp. We are actively disputing the CRA proposal and have filed a Notice of Objection on November 4, 2021. We understand the CRA has nonetheless sent out Notices of Reassessment to affected subscribers.

This website contains important information and procedures you should follow when you receive a Notice of Reassessment. It is divided into three sections. We ask that you carefully read and follow the directions set out in the section that applies to you.

If none of the sections apply to you, or you have any further questions about the information and procedures, please contact your legal or tax advisor.

Update May 2023

The CRA proposal remains under active dispute with the CRA, and the appeal process can be quite lengthy. If you hear otherwise from any source, including the CRA, please direct them to this website for clarification.

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