COMMON STOCK

9 Months Ended

May 31, 2016

COMMON STOCK [Text Block]

9.	COMMON STOCK
	On February 4, 2016, the Company’s Board has appointed Olivier Vincent as an Advisor the Board of Directors and a consultant for a term of one year. The Company issued 100,000 common shares at an exercise price of $0.05 per share.
	On May 12, 2016, the Company issued 3,500,000 shares upon execution of the definitive agreement to purchase a 100% interest in approximately 2,560 acres of placer mining claims in Churchill, Lander and Nye Counties Nevada, USA. Also see Note 7.
	On May 12, 2016, an officer of the Company, Robert McAllister, exercised 240,000 stock options at $0.05 exercise price with net proceeds of $12,000.
	On May 20, 2016, the Company closed the first tranche of a private placement of 6,413,333 units at a price of CAD$0.015 per unit for gross proceeds of CAD$96,200. Each unit consists of one common share of the Company and one non-transferable share purchase warrant, each full warrant entitling the holder to purchase one additional common share of the Company for a period of 36 months from the date of issuance, at a purchase price $0.05 during the first 18 months and US$0.10 after eighteen months. A cash finders’ fee of CAD$7,040 and 469,333 full broker warrants that expire May 20, 2019 was paid to Canacorrd Genuity and Haywood.
	As at May 31, 2016 the Company had 81,761,793 shares issued and outstanding and August 31, 2015, the Company had 71,508,460 shares issued and outstanding.