Disclosure of exploration and evaluation assets [text block] | 4. EXPLORATION AND EVALUATION ASSETS During the period ended September 30, 2024 March 31, 2024, Zoro Property Grass River Property Winston Property Peg North Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2024 $ 1,909,407 $ 45,255 $ 1,338,793 $ 400,000 $ 250,000 $ 11,730 $ 127,153 $ 4,082,338 Cash and Accrued Payables - 130 90,729 100,000 50,000 - - 240,859 Shares - - - 100,000 50,000 - - 150,000 Balance, September 30, 2024 1,909,407 45,385 1,429,522 600,000 350,000 11,730 127,153 4,473,197 Exploration costs Balance, March 31, 2024 6,452,532 680,016 419,233 849,406 2,565,023 45,865 - 11,012,075 Assay 55,945 - - - - - - 55,945 Drilling 42,950 - - - - - - 42,950 Geological, consulting, and other 629,794 - 20,447 12,222 8,792 6,000 - 677,255 Exploration cost recovery (200,000 ) - - - - - - (200,000 ) Balance, September 30, 2024 6,981,221 680,016 439,680 861,628 2,573,815 51,865 - 11,588,225 Total Balance – September 30, 2024 $ 8,890,628 $ 725,401 $ 1,869,202 $ 1,461,628 $ 2,923,815 $ 63,595 $ 127,153 $ 16,061,422 Zoro Property Grass River Property Winston Property Peg North Property Jean Lake Property Jol Lithium Property Lac Simard Property Total Acquisition costs Balance, March 31, 2023 $ 1,909,407 $ 43,500 $ 1,334,548 $ 200,000 $ 150,000 $ 10,454 $ - $ 3,647,909 Cash - 1,755 4,245 100,000 50,000 1,276 41,553 198,829 Shares - - - 100,000 50,000 - 85,600 235,600 Balance, March 31, 2024 1,909,407 45,255 1,338,793 400,000 250,000 11,730 127,153 4,082,338 Exploration costs Balance, March 31, 2023 4,653,559 596,124 371,909 660,472 2,509,453 38,365 - 8,829,882 Assay - - - 15,188 2,669 - - 17,857 Geological, consulting, and other 1,898,973 83,892 47,324 173,746 152,901 7,500 - 2,364,336 Exploration cost recovery (100,000 ) - - - (100,000 ) - - (200,000 ) Balance, March 31, 2024 6,452,532 680,016 419,233 849,406 2,565,023 45,865 - 11,012,075 Total Balance – March 31, 2024 $ 8,361,939 $ 725,271 $ 1,758,026 $ 1,249,406 $ 2,815,023 $ 57,595 $ 127,153 $ 15,094,413 Zoro Property The Company announced on January 4, 2024, March 31, 2024, September 30, 2024. Grass River Property During the period ended September 30, 2024, March 31, 2024 - Peg North Property During the year ended March 31, 2023, fifth a) cash payments of $750,000 as follows: i) a cash payment of $100,000 on or before June 23, 2022 ( ii) a cash payment of $100,000 on or before June 28, 2023 ( iii) a cash payment of $100,000 on or before June 28, 2024 ( iv) a cash payment of $150,000 on or before June 28, 2025; v) a cash payment of $150,000 on or before June 28, 2026; vi) a cash payment of $150,000 on or before June 28, 2027; b) the issuance of $750,000 in shares of the Company as follows: i) the issuance of $100,000 in common shares on or before June 23, 2022 ( ii) the issuance of $100,000 in common shares on or before June 9, 2023 ( iii) the issuance of $100,000 in common shares on or before June 28, 2024; ( iv) the issuance of $150,000 in common shares on or before June 28, 2025; v) the issuance of $150,000 in common shares on or before June 28, 2026; vi) the issuance of $150,000 in common shares on or before June 28, 2027; c) Incurring exploration expenditures totaling $3,000,000 (incurred $861,628 as of September 30, 2024; March 31, 2024) June 9, 2027. Provided that the First Option has been exercised, the Company may one Winston Property Ivanhoe/Emporia claims In accordance with the terms and conditions of the underlying Ivanhoe/Emporia purchase agreement, the Optionors agreed to sell and convey Ivanhoe/Emporia Claims for the purchase price of $500,000 USD of which $361,375 USD remained due owing to the Robert Howe Educational Trust (“RHET”) upon closing on May 17, 2017. Monthly Average Silver Price/Oz Minimum Monthly Royalty Production Royalty % Less than $5.00 $ 125 3 % $5.00 ~ $6.99 $ 250 4 % $7.00 ~ $8.99 $ 500 5 % $9.00 ~ $10.99 $ 1,000 6 % $11.00 ~ $14.99 $ 1,500 7 % $15 or greater $ 2,000 8 % All royalty payments made to RHET under the Minimum Monthly Royalty or Production Royalty of the agreement will be credited upon the purchase price. As of September 30, 2024, March 31, 2024 - March 31, 2024 - may September 30, 2024, March 31, 2024 - Jean Lake Property The option agreement provides that in order for the Company to earn a 100% interest in the project it is required to make the following cash payments and share issuances to Mount Morgan Resources Ltd. and incur the following project exploration expenditures as follows: a) pay $25,000 in cash (paid) and issue common shares of the Company having a value of $25,000 (5,000 shares issued) on or before August 1, 2021; b) pay $50,000 in cash (paid), issue $50,000 in common shares (6,704 shares issued) and incur $50,000 in exploration expenditures (incurred) on or before July 30, 2022; c) pay $50,000 in cash (paid), issue $50,000 in common shares (6,128 shares issued) and incur $100,000 (accumulated) in exploration expenditures (incurred) by July 30, 2023; d) pay $50,000 in cash (paid) issue $50,000 (12,106 shares issued) in common shares and incur $150,000 (accumulated) in exploration expenditures (incurred) by July 30, 2024; e) pay $75,000 in cash, issue $75,000 in common shares and incur $200,000 (accumulated) in exploration expenditures (incurred) by July 30, 2025. Once the Company earns the interest, the Company will grant a 2% NSR to Mount Morgan Resources Ltd. The NSR may During the year ended March 31, 2023, March 31, 2023. March 31, 2024. Lac Simard South Property During the year ended March 31, 2024, September 30, 2024 $Nil March 31, 2024 - Jol Lithium Property During the year ended March 31, 2023, MB3530 September 30, 2024, $Nil March 31, 2024 - |