(An Exploration Stage Company) (Expressed in Canadian dollars) Statements of Financial Position Note December 31, 2012 December 31, 2011 Assets Current assets Cash and cash equivalents 5 $ 523,110 $ 1,175,776 Investment in securities 6 177,647 268,207 Receivables 8 24,324 173,715 Prepaid expenses 23,849 27,285 748,930 1,644,983 Non-current assets Deposit and others 37,377 45,169 Exploration and evaluation assets 9 17,977,454 19,464,443 Investment in associate 10 2,610,148 - Property and equipment 11 9,245 13,857 20,634,224 19,523,469 Total Assets $ 21,383,154 $ 21,168,452 Liabilities Current liabilities Accounts payable and accrued liabilities 12 $ 46,723 $ 352,953 Non-current liability Deferred tax liability 13 461,526 677,972 508,249 1,030,925 Shareholders' Equity Share capital 14 38,929,431 38,916,681 Reserves 1,346,892 2,017,125 Accumulated other comprehensive loss (16,706) (368,091) Deficit (19,384,712) (20,937,101) 20,874,905 19,628,614 Non-controlling interest  - 508,913 20,874,905 20,137,527 Total Liabilities and Shareholders' Equity $ 21,383,154 $ 21,168,452 Approved on behalf of the Board of Directors: "Eric Norton" Eric Norton "Mark Lotz" Mark Lotz See Accompanying Notes to the Financial Statements  - 4 -  COMMANDER RESOURCES LTD. 