MINERAL PROPERTY

9 Months Ended

May 31, 2017

MINERAL PROPERTY [Text Block]

6. MINERAL PROPERTY

On May 5, 2017, Enertopia terminated the signed Definitive Agreement (the “Agreement”) dated May 12, 2016 with Brandon Wilson Association respecting the option to purchase a 100% interest in approximately 2,560 acres of placer mining claims in Churchill, Lander and Nye Counties Nevada, USA. These placer mining claims are subject to a 1.5% NSR from commercial production with the Company able to buy back the NSR at the rate of $500,000 per 0.5% NSR.

The consideration payable by Enertopia to Brandon Wilson Association consist of:

(a)	paying $7,000 on signing the Offer; (paid)
(b)	paying $12,000 on signing of the Agreement and issuing 3,500,000 common shares in the capital stock of Enertopia as soon as practicable following the execution of the Agreement, (paid and issued)
(c)	paying an optional $12,000 on or before the six month anniversary of the Agreement; (paid and issued 175,000 common shares of the company. Refer to Note 9)
(d)	paying an optional $22,500 on or before the one year anniversary of the Agreement. Management decided not to pursue further with the Agreement and the balance was written off as at May 31, 2017.