MARKETABLE SECURITIES

12 Months Ended

Aug. 31, 2023

Investments, Debt and Equity Securities [Abstract]

4. MARKETABLE SECURITIES

On May 4, 2022 ("Closing Date"), the Company announced the sale of its Clayton Valley unpatented mining claims to Cypress Development Corporation ("Cypress") and as a result of this transaction received 3,000,000 shares of Cypress along with $1,100,000 in cash. During January 2023 Cypress underwent a name change to Century Lithium Corp ("Century"). The 3,000,000 shares were initially restricted for trade, as of August 31, 2023 all shares are tradable. Marketable securities as at August 31, 2023 consist of the Company's investment in 3,000,000 shares of Century of which a total of 1,140,200 were sold during the year ended August 31, 2023 (2022 - 0 shares sold) leaving 1,859,800 shares. An additional 6,000 share sales were pending that were settled after the year end.

As at August 31, 2023, the movement in the Company's marketable securities is as follows:

Balance, August 31, 2021	$	14,994
Additions¹		3,432,382
Unrealized loss		(923,533	)
Unrealized foreign exchange loss		(62,388	)
Proceeds from disposal		(10,064	)
Loss on disposal		(7,641	)
Balance, August 31, 2022	$	2,443,750
Additions		-
Unrealized gain (loss)		136,681
Unrealized foreign exchange gain (loss)		(130,444	)
Proceeds from disposal		(854,599	)
Realized loss on disposal		(564,346	)
Realized Foreign exchange loss on disposal		(41,735	)
Balance, August 31, 2023	$	989,307

¹ Company recorded the 3,000,000 shares received from Cypress on May 4, 2022 as an investment and valued the investment using the closing rate of CAD1.63 per share and a discount rate of 10% due to restrictions on trading. All trading restrictions ended during the year ended August 31, 2023.