A reconciliation of income taxes at statutory rates with the reported taxes is as follows for the years ended

 

		2017				2016
Loss before income taxes		$	(6,727,722	)		$	(7,434,215	)
Statutory Canadian corporate tax rate			26.00	%			26.00	%
Income tax recovery at statutory rates		$	(1,749,208	)		$	(1,932,896	)
Stock-based compensation			151,159				214,739
Effect of tax rate change			-				-
Difference in tax rates in other jurisdictions			(374,370	)			(422,602	)
Tax benefits not realized			1,972,419				2,140,759
Income tax recovery		$	-			$	-

 

The significant components of the Company’s deferred income tax assets and liabilities are as follows:

 

		2017				2016
Deferred income tax assets (liabilities)
Mineral properties		$	17,495,000			$	15,907,000
Property and equipment			38,000				30,000
Share issuance costs			32,000				45,000
Non-capital losses available for future periods			7,476,000				6,451,000
			25,041,000				22,433,000
Valuation allowance			(25,041,000	)			(22,433,000	)
Net deferred tax assets		$	-			$	-

At the Company has available non-capital tax losses for Canadian income tax purposes of approximately and net operating loss for US tax purposes of approximately available for carry-forward to reduce future years’ taxable income, if utilized, expiring as follows:

 

		Canada				United States
2029		$	-			$	1,291,000
2030			-				1,000
2031			379,000				192,000
2032			1,089,000				1,643,000
2033			1,443,000				2,168,000
2034			1,733,000				4,224,000
2035			1,806,000				1,963,000
2036			1,354,000				1,936,000
2037			1,624,000				1,360,000
		$	9,428,000			$	14,778,000

 

In addition, the Company has available mineral resource expenses that are related to the Company’s exploration activities in the United States of approximately and in Canada of approximately which be deductible for tax purposes. Future tax benefits, which arise as a result of applying these deductions to taxable income, have been recognized in these accounts due to the uncertainty of future taxable income.