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Note 5 - Mineral Rights and Properties

6 Months Ended

Jan. 31, 2025

Mineral Industries Disclosures [Text Block]

NOTE 5:

MINERAL RIGHTS AND PROPERTIES

Mineral Rights

As at January 31, 2025, we own mineral rights in the States of Arizona, New Mexico, Texas and Wyoming, in Canada and in the Republic of Paraguay. These mineral rights were acquired through staking, purchase or lease or option agreements and are subject to varying royalty interests, some of which are indexed to the sale price of uranium. As of January 31, 2025, annual maintenance payments of approximately $5.89 million will be required to maintain these mineral rights.

As at January 31, 2025, the carrying value of our mineral rights and properties were as follows:

Costs	United States		Canada			Paraguay		*Total*
Balance, July 31, 2024	$	172,540	$	376,523		$	15,014	$	564,077
Sweetwater Acquisition		145,749		-			-		145,749
Additions		165		-			-		165
Impact of foreign currency translation		-		(9,179	)		-		(9,179	)
Balance, January 31, 2025		318,454		367,344			15,014		700,812

Accumulated Depletion and Amortization	United States			Canada			Paraguay		*Total*
Balance, July 31, 2024		(6,389	)		(105	)		-		(6,494	)
Additions		(538	)		-			-		(538	)
Impact of foreign currency translation		-			5			-		5
Balance, January 31, 2025		(6,927	)		(100	)		-		(7,027	)

Carrying Value
Balance, July 31, 2024	$	166,151		$	376,418		$	15,014	$	557,583
Balance, January 31, 2025	$	311,527		$	367,244		$	15,014	$	693,785

Mineral property expenditures recorded during the period are as follows:

	*Three Months Ended January 31,*				*Six Months Ended January 31,*
	*2025*		*2024*		*2025*		*2024*
Permitting and compliance	$	312	$	456	$	602	$	1,339
Property maintenance		1,244		962		2,493		1,947
Exploration		923		2,915		5,840		5,317
Development		7,584		1,119		12,266		1,645
Extraction readiness		4,180		1,239		6,556		2,129
Total	$	14,243	$	6,691	$	27,757	$	12,377