9. STOCK OPTIONS AND WARRANTS

Stock Options

On July 15, 2014, the shareholders approved and adopted at the Annual General Meeting the Company's 2014 Stock Option Plan. The purpose of these Plans is to advance the interests of the Corporation, through the grant of Options, by providing an incentive mechanism to foster the interest of eligible persons in the success of the Corporation and its affiliates; encouraging eligible persons to remain with the Corporation or its affiliates; and attracting new Directors, Officers, Employees and Consultants. The aggregate number of Common Shares that may be reserved, allotted and issued pursuant to Options shall not exceed 17,400,000 shares of common stock, less the aggregate number of shares of common stock then reserved for issuance pursuant to any other share compensation arrangement. For greater certainty, if an Option is surrendered, terminated or expires without being exercised, the Common Shares reserved for issuance pursuant to such Option shall be available for new Options granted under this Plan. The options are deemed as vested and exercisable on issuance and the maximum life of the options granted under this Plan may not exceed 5 years.

At the Annual General Meeting held March 22, 2023, a new 2023 Stock Option Plan was approved. Under the 2023 Stock Option Plan (the "2023 Plan") the Company may grant options to purchase shares of common stock, $0.001 par value per share, of the Company. The stock subject to options granted under the 2023 Plan shall be shares of authorized but unissued or reacquired common stock. The maximum number of shares of common stock of the Company which may be issued and sold under the 2023 Plan shall be 31,000,000, subject to adjustment for stock splits or consolidations with a maximum life of 5 years and vesting at the discretion of the Board of Directors. Management plans to issue all new option grants under the 2023 Plan and to cancel the 2014 Plan once all currently issued options are either exercised or expire.

During the years ended August 31, 2024, and 2023, the Company did not issue any options.

During the year ended August 31, 2024 and 2023, the Company recorded $0 as stock-based compensation expense. During the year ended August 31, 2023 no options were exercised and 1,750,000 options expired unexercised.

A summary of the changes in stock options is presented below:

	Number of Options		Weighted Average Exercise Price $	Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value $
Balance, August 31, 2022	9,900,000		0.08
Issued	-		-
Expired	(1,750,000	)	0.06
Exercised	-		-
Balance, August 31, 2023	8,150,000		0.09
Issued	-		-
Expired	-		-
Exercised	-		-
Balance, August 31, 2024 (Outstanding & Exercisable)	8,150,000		0.09	1.91	-

The Company has the following options outstanding and exercisable as at August 31, 2024:

Issue Date	Expiry Date	Exercise Price	Number of Options	Remaining Life (Years)
14-Dec-20	14-Dec-25	0.05	2,100,000	1.29
28-Jan-21	28-Jan-26	0.14	2,000,000	1.41
4-Feb-21	4-Feb-26	0.18	100,000	1.43
5-Feb-21	5-Feb-26	0.18	300,000	1.43
27-Apr-21	27-Apr-26	0.12	100,000	1.65
28-May-21	28-May-26	0.12	50,000	1.74
1-Sep-21	1-Sep-26	0.08	500,000	2.00
6-Dec-21	6-Dec-26	0.07	1,000,000	2.27
18-Aug-22	18-Aug-27	0.06	2,000,000	2.96
Balance outstanding and exercisable			8,150,000	1.91

*As at August 31, 2024 the market price of the Company's common shares was $0.009 per share. The intrinsic value of the stock options was $0.

Warrants

There were no warrants issued during the years ended August 31, 2024 and 2023.

During the year ended August 31, 2024 and 2023, 0 and 50,000 warrants were exercised, respectively and for $0 and $2,000, respectively.

A summary of warrants as at August 31, 2024 and August 31, 2023 is as follows:

				Weighted Average
	Number of warrants			Exercise Price
Balance, August 31, 2022	4,973,369		$	0.04
Forfeited	(4,923,369	)		0.04
Exercised	(50,000	)		0.04
Balance, August 31, 2023	-		$	-