13 unchanged sentences
Estimated Funding Required During the 12 Months beginning September 1, 2025
−Removed: Expense Amount ($)
Mineral Costs
3 unchanged sentences
Other general administrative expenses
−Removed: Total $491,000
As at the date of this annual report, we do not have sufficient cash on hand to finance our entire potential and estimated $254,000 cash obligation to the proposed spending for the 12 months beginning September 1, 2025.
4 unchanged sentences
Our net income (loss) and comprehensive income (loss) for our year ended August 31, 2025, for our year ended August 31, 2024 and the changes between those periods for the respective items are summarized as follows:
−Removed: August 31, August 31,
−Removed: 2024 2023 Change
−Removed: Revenue $ - $ - $ -
General and administrative
5 unchanged sentences
Professional fees
−Removed: Other expenses 333,377 607,593 274,216
−Removed: Net loss $ 999,010 $ 1,832,178 $ 833,168
+Added: Other expenses (income)
Our consolidated financial statements report no revenue for the years ended August 31, 2025, and August 31, 2024.
Our consolidated financial statements report a net loss of $506,853 for the year ended August 31, 2025, compared to a net loss of $999,010 for the year ended August 31, 2024.
−Removed: Our net loss has decreased by $833,168 for the year ended August 31, 2024, primarily due to the decrease in Other expenses and the completion of the drilling program in he prior year.
−Removed: Our operating costs were lower by $558,952 for August 31, 2024, compared to August 31, 2023, primarily due to the costs of our drilling program of $325,170 in the prior year and general cost containment efforts.
−Removed: Other expense for the year ended August 31, 2024 primarily consisted of realized losses and realized foreign exchange losses on the sale of marketable securities of $1,265,781 and $67,053, offset by unrealized gains and unrealized foreign exchange losses on marketable securities of $1,003,760 and $6,596, respectively.
+Added: Our net loss has decreased by $492,157 for the year ended August 31, 2025, primarily due to the decrease in Other expenses and Consulting fees, along with other cost containment measures.
+Added: Our operating costs were lower by $151,892 for August 31, 2025, compared to August 31, 2024, primarily due to the reduced costs of consultants and our other cost containment measures.
+Added: Other expense for the year ended August 31, 2025 primarily consisted of realized losses and realized foreign exchange losses on the sale of marketable securities of $352,239 and $17,133, offset by unrealized gains on marketable securities of $377,803.
Liquidity and Financial Condition
−Removed: Working Capital August 31, August 31,
+Added: Working Capital
Current assets
Current liabilities
−Removed: Working capital $ 16,098 $ 1,015,108
−Removed: August 31, August 31,
−Removed: Cash Flows 2024 2023
+Added: Working capital (deficit)
Cash flows used in operating activities
4 unchanged sentences
Net cash used in operating activities was $407,005 for the year ended August 31, 2025 compared with cash used in operating activities of $665,810 in 2024.
−Removed: The decrease in net cash used in operating activities is due to the overall decrease in costs as described above.
+Added: The decrease in net cash used in operating activities is due to the completion of patent filings and our focus on near complete projects reducing our consulting expenses.
Investing Activities
2 unchanged sentences
Financing Activities
−Removed: Net cash provided in financing activities was $0 for the year ended August 31, 2024, compared to $2,000 in the same period in 2023.
+Added: Net cash provided in financing activities was $225,905 for the year ended August 31, 2025, compared to $0 in the same period in 2024 from the exercise of warrants and common stock issuance for cash.
Contractual Obligations
2 unchanged sentences
Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business.
−Removed: The Company had a working capital of $16,098 as at August 31, 2024 (2023 - $1,015,108).
+Added: The Company had a working capital deficit of $210,100 as at August 31, 2025 compared to working capital of $16,097 as at August 31, 2024.
As at August 31, 2025, the Company has incurred cumulative losses of $16,031,753.
20 unchanged sentences
The Company has not established proven or probable reserves for any of its projects.
−Removed: The carrying values of the mineral rights are assessed for impairment by management on a quarterly basis and as required whenever indicators of impairment exist.
+Added: The carrying values of our mineral rights are assessed for impairment by management on a quarterly basis and as required whenever indicators of impairment exist.
An impairment loss is recognized if it is determined that the carrying value is not recoverable and exceeds fair value.
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.