Note 4 - Mineral Rights and Properties

6 Months Ended

Jan. 31, 2026

Notes to Financial Statements

Mineral Industries Disclosures [Text Block]

NOTE 4: MINERAL RIGHTS AND PROPERTIES

Mineral Rights

As at January 31, 2026, we owned mineral rights in the United States, Canada and 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 at January 31, 2026, the carrying value of our mineral rights and properties were as follows:

Costs	United States		Canada		Paraguay		Total
Balance, July 31, 2025	$	326,192	$	376,027	$	15,014	$	717,233
Additions		715		-		-		715
Impact of foreign currency translation		-		3,214		-		3,214
Balance, January 31, 2026		326,907		379,241		15,014		721,162

Accumulated Depletion and Amortization	United States			Canada			Paraguay		Total
Balance, July 31, 2025		(7,477	)		(105	)		-		(7,582	)
Additions		(592	)		-			-		(592	)
Impact of foreign currency translation		-			(2	)		-		(2	)
Balance, January 31, 2026		(8,069	)		(107	)		-		(8,176	)
Carrying Value
Balance, July 31, 2025	$	318,715		$	375,922		$	15,014	$	709,651
Balance, January 31, 2026	$	318,838		$	379,134		$	15,014	$	712,986

We have not established proven or probable reserves, as defined by the SEC under S-K 1300, for any of our mineral projects.  We have established the existence of mineral resources for certain uranium projects, including our ISR Mines.  Since we commenced uranium extraction at some of our ISR Mines without having established proven or probable reserves, there may be greater inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated.

Mineral property expenditures recorded during the period are as follows:

	Three Months Ended January 31,				Six Months Ended January 31,
	2026		2025		2026		2025
Permitting and land payments	$	2,709	$	1,556	$	4,065	$	3,095
Extraction readiness and mine site maintenance		2,359		4,180		4,762		6,556
Exploration		4,323		923		8,040		5,840
Development		14,289		7,584		27,733		12,266
Total	$	23,680	$	14,243	$	44,600	$	27,757