10-K/A

U. S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 10-K

(Amendment #1)

(Mark One)

[X]ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  

For the fiscal year ended March 31, 2018

[   ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 

For the transition period from ___________ to _____________

Commission File Number: 000-52413

Mexus Gold us

(Name of small business issuer as specified in its charter)

Nevada	20-4092640
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1805 N. Carson Street, Suite 150 Carson City, NV 89701
(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code:  (916) 776-2166 

Securities registered pursuant to Section 12(b) of the Act: None 

Securities registered pursuant to Section 12(g) of the Act:  common stock, $.001par value 

___________________

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  No [X]

Indicate by check mark whether the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes [X]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment of this Form 10-K.  Yes [   ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act.

Large accelerated filer [   ] Accelerated  filer [   ] Non-accelerated filer [   ] (Do not check if smaller reporting company) Smaller reporting Company [X] Emerging growth Company [   ]

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. [  ]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). No [X]

The aggregate market value of the voting and non-voting common equity held by non-affiliates on September 30, 2017, based upon the $0.0495 per share closing price for our common stock on the OTC Bulletin Board was approximately $29,174,414.

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Indicate by check mark whether the registrant filed all documents and reports required to be filed by Section 12, 13, or 15(d) of the Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court. Yes [  ]  No [  ]

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:  As of July 2, 2018, there were 813,188,020 shares of our common stock were issued and outstanding.

DOCUMENTS INCORPORATE BY REFERENCE

List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933.  The listed documents should be clearly described for identification purposes (e.g., annual report to securities holders for fiscal year ended December 24, 1980).

2

EXPLANATORY NOTE

The sole purpose of this Amendment # 1 to Annual Report on Form 10-K ("Form 10-K") for the year ended March 31, 2018, is to furnish Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 to the Form 10-K provides the financial statements and related notes from the Form 10-K formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-K. This Amendment #1 to the Form 10-K speaks as of the original filing date of the Form 10-K does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-K.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Item 15. Exhibits, Financial Statement Schedules.

Statements

Report of Independent Registered Public Accounting Firm

Consolidated Balance Sheets at March 31, 2018 and 2017

Consolidated Statements of Operations for the years ended March 31, 2018 and 2017

Consolidated Statements of Stockholders' Equity for the years ended March 31, 2018 and 2017

Consolidated Statements of Cash Flows for the years ended March 31, 2018 and 2017

Notes to Consolidated  Financial Statements

Schedules

All schedules are omitted because they are not applicable or the required information is shown in the Financial Statements or notes thereto.

3

	Exhibit	Form	Filing	Filed with
Exhibits	#	Type	Date	This Report
Articles of Incorporation filed with the Secretary of State of Colorado on June 22, 1990	3.1	10-SB	1/24/2007
Articles of Amendment to the Articles of Incorporation filed with the Secretary of State of Colorado on October 17, 2006	3.2	10-SB	1/24/2007
Articles of Amendment to Articles of Incorporation filed with the Secretary of State of the State of Colorado on January 25, 2007	3.3	10KSB	6/29/2007
Articles of Incorporation filed with the Secretary of State of Nevada on October 1, 2009	3.4	10-K	7/27/2016
Certificate of Amendment filed with the Secretary of State of Nevada on March 9, 2016	3.5	10-K	7/27/2016
Certificate of Amendment filed with the Secretary of State of Nevada on July 6, 2018	3.6	10-K	7/16/2018
Certificate of Designation filed with the Secretary of State of Nevada on August 8, 2011	3.7	10-K	7/27/2016
Amended and Restated Bylaws dated December 30, 2005	3.8	10-SB	1/24/2007
Code of Ethics	14.1	10-KSB	6/29/2007
Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	31.1			X
Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	32.1			X
Caborca Preliminary Report and First Stage Mapping	99.1	10-K	7/16/2018
“Mabel Project” Contract dated May 1, 2018	99.2	10-K	7/16/2018
“El Plamito Project” Contract dated May 1 2018	99.3	10-K	7/16/2018
“La Famosa Project” Contract dated May 1, 2018	99.4	10-K	7/16/2018
XBRL Instance Document	101.INS			X
XBRL Taxonomy Extension Schema Document	101.SCH			X
XBRL Taxonomy Extension Calculation Linkbase Document	101.CAL			X
XBRL Taxonomy Extension Definition Linkbase Document	101.DEF			X
XBRL Taxonomy Extension Label Linkbase Document	101.LAB			X
XBRL Taxonomy Extension Presentation Linkbase Document	101.PRE			X

4

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

MEXUS GOLD US

/s/  Paul D. Thompson Sr.

By:  Paul D. Thompson Sr.

Its:   Chief Executive Officer

Principle Financial Officer

Principle Executive Officer

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant on the capacities and on the dates indicated.

Signatures	Title	Date
/s/ Paul D. Thompson Sr. Paul D. Thompson Sr.	Chief Executive Officer Chief Financial Officer Principal Executive Officer Principal Financial Officer President Secretary Director	July 16, 2018

5

EX-31.1

Ex. 31.1

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO

SECURITIES EXCHANGE ACT RULES 13a-14(a) AND 15(d)-14(a), AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Paul D. Thompson Sr., Chief Executive Officer and Chief Financial Officer of Mexus Gold US (the “Company”) certify that:

1. I have reviewed this Annual Report on Form 10-K (A/1) of the Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;  

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;  

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and  

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and  

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Dated: July 16, 2018			By:	/s/ Paul D. Thompson Sr.
				Paul D. Thompson Sr. Chief Executive Officer (Principal Executive Officer) Chief Financial Officer (Principal Financial Officer)

EX-32.1

Ex 32.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Mexus Gold US, a Nevada corporation, (the “Registrant”) on Form 10-K (A/1) for the year ended March 31, 2018 (the “Report”), I, Paul D. Thompson, Sr., Chief Executive Officer and Chief Financial Officer of the Registrant, do hereby certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

(1) the Report, as filed with the Securities and Exchange Commission, fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated: July 16, 2018	By:	/s/ Paul D. Thompson Sr.
		Paul D. Thompson Sr. Chief Executive Officer (Principal Executive Officer) Chief Financial Officer (Principal Financial Officer)

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Document and Entity Information - USD ($)		12 Months Ended
	Sep. 30, 2017	Mar. 31, 2018	Jul. 02, 2018
Details
Registrant Name		Mexus Gold US
Registrant CIK		0001355677
SEC Form		10-K
Period End date		Mar. 31, 2018
Fiscal Year End		--03-31
Trading Symbol		mxsg
Tax Identification Number (TIN)		204092640
Number of common stock shares outstanding			813,188,020
Public Float	$ 29,174,414
Filer Category		Smaller Reporting Company
Current with reporting		Yes
Voluntary filer		No
Well-known Seasoned Issuer		No
Amendment Flag		false
Document Fiscal Year Focus		2018
Document Fiscal Period Focus		FY
Entity Incorporation, State Country Name		Nevada
Entity Address, Address Line One		1805 N. Carson Street, Suite 150
Entity Address, City or Town		Carson City
Entity Address, State or Province		NV
Entity Address, Postal Zip Code		89701
City Area Code		916
Local Phone Number		776-2166
Entity Listing, Par Value Per Share	$ 0.0495

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Consolidated Balance Sheets - USD ($)		Mar. 31, 2018	Mar. 31, 2017
CURRENT ASSETS
Cash		$ 125,942	$ 90,551
Prepaid and other assets		0	32,972
TOTAL CURRENT ASSETS		125,942
FIXED ASSETS
Property and equipment, net of accumulated depreciation		470,320	505,583
TOTAL FIXED ASSETS		470,320
OTHER ASSETS
Equipment under construction		73,456	73,456
Deposit on mineral property		324,000	0
Property costs		505,947	580,947
Other Assets, Noncurrent		903,403
TOTAL ASSETS		1,499,665
CURRENT LIABILITIES
Accounts payable and accrued liabilities		149,553	64,734
Accounts payable - related party		374,669	260,860
Notes Payable (net of unamortized debt discount)		172,897	132,897
Notes payable - related parties		10,851	86,755
Promissory Notes (net of unamortized debt discount)		65,000	65,000
Convertible promissory note, net of debt discount		354,664	0
Convertible promissory note derivative liability		68,934	0
TOTAL CURRENT LIABILITIES		1,196,568
TOTAL LIABILITIES		1,196,568
CONTINGENT LIABILITIES (Note 13)	[1]
STOCKHOLDERS' EQUITY
Preferred shares		0	0
Common Stock, Value, Issued		775,919	665,555
Additional paid-in capital		25,743,607	22,379,274
Share subscription payable		636,565	571,467
Accumulated deficit		(26,853,994)	(22,944,033)
TOTAL STOCKHOLDERS' EQUITY		303,097
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		1,499,665
Series A Convertible
STOCKHOLDERS' EQUITY
Preferred shares		$ 1,000	$ 1,000

[1] Note 13.

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Consolidated Balance Sheets - Parenthetical - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Notes Payable, unamortized debt discount	$ 0	$ 0
Promissory notes, unamortized debt discount	$ 36,818	$ 0
Preferred Stock, Shares Authorized	9,000,000	9,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	775,922,947	665,556,526
Common Stock, Shares, Outstanding	775,922,947	665,556,526
Series A Convertible
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Issued	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	1,000,000	1,000,000

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Consolidated Statement of Operations - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES
Revenues	$ 0	$ 0
Total revenues	0	0
Expenses
Exploration	621,793	304,634
General and administrative	972,309	845,605
Stock-based expense - consulting services	1,306,013	1,848,481
(Gain) loss on sale of equipment	0	(100,266)
Write down of equipment held for sale	0	12,308
Loss on settlement of accounts payable	132,000	345,500
Impairment of mineral property	75,000	0
Total operating expenses	3,107,115	3,256,262
OTHER INCOME (EXPENSE)
Foreign exchange	(15,899)	(5,973)
Interest	(487,300)	(171,746)
Loss on settlement of debt	(296,918)	(372,716)
Loss on convertible promissory note derivative liability	(2,729)	0
Nonoperating Income (Expense)	(802,846)	(550,435)
NET LOSS BEFORE PROVISION FOR TAX	(3,909,961)	(3,806,697)
Income Tax Expense (Benefit)	0	0
Net Income (Loss) Attributable to Parent	$ (3,909,961)	$ (3,806,697)
Earnings Per Share, Basic and Diluted	$ (0.01)	$ (0.01)
Weighted Average Number of Shares Outstanding, Basic and Diluted	706,016,990	571,867,473

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Consolidated Statements of Stockholders' Equity - USD ($)	Preferred Stock	Preferred Class A	Common Stock	Additional Paid-in Capital	Subscription Payable	Retained Earnings	Total
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Mar. 31, 2016	$ 0	$ 1,000	$ 480,607	$ 18,380,440	$ 614,215	$ (19,137,336)	$ 338,926
Shares, Outstanding, Beginning Balance at Mar. 31, 2016	0	1,000,000	480,601,620
Stock Issued During Period, Value, Issued for Services	$ 0	$ 0	$ 52,290	1,718,954	77,237	0	1,848,481
Stock Issued During Period, Shares, Issued for Services	0	0	52,290,066
Stock Issued During Period, Value, Purchase of Assets	$ 0	$ 0	$ 0	0	10,000	0	10,000
Stock Issued During Period, Shares, Purchase of Assets	0	0	0
Stock Issued During Period, Value, New Issues	$ 0	$ 0	$ 74,589	854,532	(28,949)	0	900,172
Stock Issued During Period, Shares, New Issues	0	0	74,596,089
Stock Issued During Period, Value, Other	$ 0	$ 0	$ 7,186	388,538	0	0	395,724
Stock Issued During Period, Shares, Other	0	0	7,185,991
Shares issued for convertible note principal and interest	$ 0	$ 0	$ 50,883	1,036,810	(101,036)	0	986,657
Shares issued for convertible note principal and interest, shares	0	0	50,882,760
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 0	$ 0	$ 0	0	0	(3,806,697)	(3,806,697)
Shares, Outstanding, Ending Balance at Mar. 31, 2017	0	1,000,000	665,556,526
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Mar. 31, 2017	$ 0	$ 1,000	$ 665,555	22,379,274	571,467	(22,944,033)	673,263
Stock Issued During Period, Value, Issued for Services	$ 0	$ 0	$ 28,819	1,115,280	24,910	0	1,169,009
Stock Issued During Period, Shares, Issued for Services	0	0	28,819,117
Stock Issued During Period, Value, Purchase of Assets	$ 0	$ 0	$ 4,452	119,865	(9,000)	0	115,317
Stock Issued During Period, Shares, Purchase of Assets	0	0	4,452,309
Stock Issued During Period, Value, New Issues	$ 0	$ 0	$ 44,475	888,809	55,776	0	989,060
Stock Issued During Period, Shares, New Issues	0	0	44,475,713
Stock Issued During Period, Value, Other	$ 0	$ 0	$ 4,708	259,792	0	0	264,500
Stock Issued During Period, Shares, Other	0	0	4,708,333
Shares issued for convertible note principal and interest	$ 0	$ 0	$ 21,410	446,083	(6,588)	0	460,905
Shares issued for convertible note principal and interest, shares	0	0	21,410,949
Shares issued for deposit on mineral property	$ 0	$ 0	$ 6,000	318,000	0	0	324,000
Shares issued for deposit on mineral property, shares	0	0	6,000,000
Shares issued to settle stock payable	$ 0	$ 0	$ 500	136,504	0	0	137,004
Shares issued to settle stock payable, shares	0	0	500,000
Beneficial conversion feature	$ 0	$ 0	$ 0	80,000	0	0	80,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 0	$ 0	$ 0	0	0	(3,909,961)	(3,909,961)
Shares, Outstanding, Ending Balance at Mar. 31, 2018	0	1,000,000	775,922,947
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Adjusted Balance at Mar. 31, 2018	$ 0	$ 1,000	$ 775,919	$ 25,743,607	$ 636,565	$ (26,853,994)	$ 303,097

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Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Cash Provided by (Used in) Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (3,909,961)	$ (3,806,697)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities
Depreciation and amortization	255,776	226,632
(Gain) loss on sale of equipment	0	(100,266)
Loss on settlement of debt and accounts payable	428,918	718,216
Stock-based compensation - services	1,306,013	1,848,481
Non cash Interest expense	477,923	170,035
Loss on change in fair value of derivative instrument	2,729	0
Impairment of equipment held for sale	0	12,308
Impairment of mineral property	75,000	0
Changes in operating assets and liabilities:
Decrease (Increase) of other assets	32,972	(34,442)
Increase (Decrease) in Accounts Payable and Accrued Liabilities	273,061	146,503
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(1,057,569)	(819,230)
Net Cash Provided by (Used in) Investing Activities
Purchase of equipment	(105,196)	(41,502)
Purchase of equipment under construction	0	(516)
Proceeds from sale of equipment	0	163,970
Purchase of property	0	(75,000)
Net Cash Provided by (Used in) Investing Activities	(105,196)	46,952
Net Cash Provided by (Used in) Financing Activities
Proceeds from issuance of notes payable	135,000	58,404
Payment of notes payable	0	(126,208)
Proceeds from the issuance of convertible promissory notes	150,000	0
Advances from related party	16,000	0
Payment of advances from related party	(91,904)	0
Proceeds from issuance of common stock, net	989,060	900,172
Net Cash Provided by (Used in) Financing Activities	1,198,156	832,368
Cash and Cash Equivalents, Period Increase (Decrease)	35,391	60,090
Supplemental Cash Flow Information
Interest Paid	0	8,750
Income Taxes Paid, Net	0	0
Cash Flow, Noncash Investing and Financing Activities Disclosure
Discount for beneficial conversion feature recognized on issuance of notes payable	80,000	0
Shares issued for settlement of notes payable	399,418	781,746
Shares issued to settle accounts payable	264,500	350,224
Shares issued for equipment purchase	115,317	0
Shares issued for deposit on mineral property	324,000	0
Shares issued in conjunction with the issuance of notes payable and convertible promissory note	61,487	0
Initial value of embedded derivative liability	66,205	0
Sale of equipment for note receivable	0	(1,470)
Reclassification of equipment held for sale of property and equipment	0	220,732
Reclassification of property and equipment under construction from held for sale	$ 0	$ 55,922

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Organization and Business of Company

12 Months Ended

Mar. 31, 2018

Notes

Organization and Business of Company

1.     ORGANIZATION AND BUSINESS OF COMPANY

Mexus Gold US (the “Company”) was originally incorporated under the laws of the State of Colorado on June 22, 1990, as U.S.A. Connection, Inc.  On October 28, 2005, the Company changed its’ name to Action Fashions, Ltd. On September 18, 2009, the Company changed its’ domicile to Nevada and changed its’ name to Mexus Gold US to better reflect the Company’s new planned principle business operations. The Company has a fiscal year end of March 31.

The Company is a mining company engaged in the evaluation, acquisition, exploration and advancement of gold, silver and copper projects in the State of Sonora, Mexico and the Western United States, as well as, the salvage of precious metals from identifiable sources.

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Going Concern

12 Months Ended

Mar. 31, 2018

Notes

Going Concern

2.     GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.  During the year ended March 31, 2018, the Company incurred a net loss of $3,909,961 and used cash in operating activities of $1,057,569[ACI1] , and at March 31, 2018, had an accumulated deficit of $26,853,994. At March 31, 2018, the Company is in the exploration stage and has not earned revenue from planned operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the financial statements are issued.  The Company’s independent registered public accounting firm, in their report on the Company’s financial statements for the year ending March 31, 2018, expressed substantial doubt about the Company’s ability to continue as a going concern.

The Company is dependent upon outside financing to continue operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plans to raise necessary funds through a private placement of its common stock to satisfy the capital requirements of the Company’s business plan. There is no assurance that the Company will be able to raise the necessary funds, or that if it is successful in raising the necessary funds, that the Company will successfully execute its business plan.

The consolidated financial statements do not include any adjustments relating to the recoverability and classification of assets and/or liabilities that might be necessary should the Company be unable to continue as a going concern. The continuation as a going concern is dependent upon the ability of the Company to meet our obligations on a timely basis, and, ultimately to attain profitability.

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Summary of Significant Accounting Principles

12 Months Ended

Mar. 31, 2018

Notes

Summary of Significant Accounting Principles

3.     SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The consolidated financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity. Certain 2017 financial statement amounts have been reclassified to conform to the financial statement presentation adopted in the current year.

These accounting policies conform to accounting principles generally accepted in the United States of America and are presented in U.S. dollars.

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and controlled subsidiaries, Mexus Gold Mining, S.A. de C.V. (“Mexus Gold Mining), Mexus Enterprises S.A. de C.V. (“Mexus Gold Enterprises”) and Mexus Gold MX S.A. DE C.V. (“Mexus Gold MX”). Significant intercompany accounts and transactions have been eliminated. 

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Management believes that the estimates used are reasonable. The more significant estimates and assumptions by management include, among others, the accrual of potential liabilities, the assumptions used in valuing share-based instruments issued for services, valuation of derivative liabilities and the valuation allowance for deferred tax assets.

Cash and cash equivalents

The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Equipment

Equipment consists of mining tools and equipment, watercraft and vehicles which are depreciated on a straight-line basis over their expected useful lives as follows (see Note 5):

Mining tools and equipment	7 years
Watercrafts	7 years
Vehicles	3 years

Equipment under Construction

Equipment under construction comprises mining equipment that is currently being fabricated and modified by the Company and is not presently in use. Equipment under construction totaled $73,456 and $73,456 as of March 31, 2018 and 2017, respectively.  Equipment under construction at March 31, 2018 comprises a Gold Recovery Cyanide Plant, Hydraulic Drum 12YD, Skid Mounted Mill and Survey Winch Marine.

Exploration and Development Costs

Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.

Mineral Property Rights

Costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred either to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets.

Long-Lived Assets

In accordance with ASC 360, Property Plant and Equipment the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

Fair Value of Financial Instruments

ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item.

The Company's financial instruments consist of cash, accounts payable, accrued liabilities, advances, notes payable, and a promissory note payable. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Secured convertible promissory note derivative liability is measured at fair value on a recurring basis using Level 3 inputs.

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The notes payable, loans payable and secured convertible promissory notes have fixed interest rates therefore the Company is exposed to interest rate risk in that they could not benefit from a decrease in market interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities.

Derivative Instruments

Accounting standards require that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value.  A change in the market value of the financial instrument is recognized as a gain or loss in results of operations in the period of change.

Foreign Currency Translation

The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated to United States dollars in accordance with ASC 740, Foreign Currency Translation Matters, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income.

To the extent that the Company incurs transactions that are not denominated in its functional currency, they are undertaken in Mexican Pesos. The Company has not, as of the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

Comprehensive Loss

ASC 220, Comprehensive Income establishes standards for the reporting and display of comprehensive loss and its components in the consolidated financial statements. As at March 31, 2018 and 2017, the Company had no items that represent a comprehensive loss, and therefore has not included a schedule of comprehensive loss in the consolidated financial statements.

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Tax”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

Asset Retirement Obligations

In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of March 31, 2018 and 2017, the Company has not recorded AROs associated with legal obligations to retire any of the Company’s mineral properties as the settlement dates are not presently determinable.

Revenue Recognition

The Company follows the guidance of the Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) 104 for revenue recognition and Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition.” Accordingly, the Company records revenue when persuasive evidence of an arrangement exists, services have been rendered or product delivery has occurred, the selling price to the customer is fixed or determinable and collectability of the revenue is reasonably assured.

Stock-based Compensation

The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.

ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505. 

Per Share Data

Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.

At March 31, 2018 and 2017, we excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock as their effect would have been anti-dilutive:

	March 31, 2018	March 31, 2017
Common stock issuable upon conversion of convertible notes payable	13,675,741	3,709,091
Common stock issuable to satisfy stock payable obligations	48,641,961	26,024,576
Total	62,317,702	29,733,667

Recently Issued Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606).  ASU 2014-09, as amended, is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition.  Under ASU 2014-09, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services.  In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers.  ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.   Under ASU 2014-09, revenue will be recognized when performance obligations under the terms of a contract are satisfied, which generally occurs upon shipment or delivery to customers based on written sales terms, which is also when control is transferred.  Revenue will be measured as the amount of consideration we expect to receive in exchange for transferring products or services to a customer.   The Company will adopt the guidance of ASU 2014-09 on April 1, 2018.  As the Company does not currently have revenue, the adoption of the new guidance is not expected to impact the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases.  ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months.  ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018.  Early adoption is permitted.  A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available.  The Company is currently evaluating the expected impact that the standard could have on its consolidated financial statements and related disclosures.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

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Deposit on Mineral Properties

12 Months Ended

Mar. 31, 2018

Notes

Deposit on Mineral Properties

4.     DEPOSIT ON MINERAL PROPERTIES

On January 18, 2018, Mexus Gold MX, entered into three Letter of Intent (“LOI”) agreements (collective known as Project Mabel) to exploit and transfer mineral rights owed by Cesar Mauricio Lemas Contreras.

(i)        Project “Mabel” – Declaration of Intent dated January 18, 2018 with participation of 90% Mexus Gold MX and 10% Pacific Comox S.A. de C.V. (“Pacific Comox”). The administrator of Pacific Comox is Cesar Maruicio Lemas Contreras. This LOI contemplates transfers of mining rights at concessions 216136, 216137, 218587, 218588, 190649, 172975, 2019102, 172960, 180700, 222782 and 222783, which together add up to 2,128.2003 hectares

(ii)       Project “El Plomito” – Declaration of Intent dated January 23, 2018 with participation of 50% Mexus Gold MX and 50% Pacific Comox. This LOI contemplates transfers of mining rights at concessions 220563, 213711, 215941, 216544, 200395 and 222989, which together add up to 275.02 hectares.

(iii)      Project “La Famosa” – Declaration of Intent dated January 21, 2018 with participation of 50% Mexus Gold MX and 50% Pacific Comox. This LOI contemplates transfers of mining rights at concessions 220394, 220395, 220840, 220841 and 199006, which together add up to 200.0568 hectares

The Company paid 6,000,000 shares of common stock valued at $324,000 ($0.0540 per share) to Cesar Maruicio Lemas Contreras as consideration to enter into these three LOI agreements. As of March 31, 2018, agreement related to these three properties were not finalized and the consideration is recorded as a deposit.

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Mineral Properties and Exploration Costs

12 Months Ended

Mar. 31, 2018

Notes

Mineral Properties and Exploration Costs

5.     MINERAL PROPERTIES AND EXPLORATION COSTS

The following is a continuity of mineral property acquisition costs capitalized on the consolidated balance sheets during the years ended March 31, 2018 and 2017:

		Balance March 31, 2017		Cash Payments		Share-based Payments		Impairment		Balance March 31, 2018
Ures Property (a)	$	-	$	-	$	-	$	-	$	-
Santa Elena Mine (b)		505,947		-		-		-		505,947
San Felix Project (c)		75,000		-		-		(75,000)		-
	$	580,947	$	-	$	-	$	(75,000)	$	505,947

		Balance March 31, 2016		Cash Payments		Share-based Payments		Impairment		Balance March 31, 2017
Ures Property (a)	$	-	$	-	$	-	$	-	$	-
Santa Elena Mine (b)		505,947		-		-		-		505,947
San Felix Project (c)		-		75,000		-		-		75,000
	$	505,947	$	75,000	$	-	$	-	$	580,947

The following is a continuity of exploration costs expensed in the consolidated statements of operation:

		Balance March 31, 2017		Cash Payments		Share-based Payments		Balance March 31, 2018
Ures Property (a)	$	1,929,984	$	138,644	$	20,910	$	2,089,538
Santa Elena Mine (b)		3,940,761		483,149		244,500		4,668,410
	$	5,870,745	$	621,793	$	265,410	$	6,757,948

		Balance March 31, 2016		Cash Payments		Share-based Payments		Balance March 31, 2017
Ures Property (a)	$	1,910,649	$	19,335	$	-	$	1,929,984
Santa Elena Mine (b)		2,786,147		285,299		869,315		3,940,761
	$	4,696,796	$	304,634	$	869,315	$	5,870,745

(a)   Ures Property

On May 25, 2010, the Company entered into a Mineral Exploration and Mining Lease with Option to Purchase mineral rights approximately 80 km NE of Hermosillo, Sonora, Mexico. The properties comprise approximately 10,000 acres over 9 concessions (including Ocho Hermanos, 370, San Ramon, Plat Osa, Edgar 1, Edgar 2, El Scorpio, Los Laureles and Mexus Gold). These property rights are owned by Mexus Gold S.A. de C.V. The Company is currently evaluating two properties, the El Scorpio and Ocho Hermanos. The evaluation involves trench testing and sampling.

(b)   Santa Elena Mine

Santa Elena Mine (also known as Caborca or Julio) comprise seven concessions with a total of 898.028 hectares of exploration properties located 54km NW of Caborca, State of Sonora, Mexico. These property rights are owned by Mexus Gold Mining S.A. de C.V. At March 31, 2018, a total of $505,947 have been capitalized on the consolidated balance sheet for these property costs.

On May 19, 2016, Mexus entered into a new joint venture agreement to continue the exploration program under the Exploration, Exploitation and Mining Concessions Agreement (“Marmar Agreement”) with Marmar Holdings SA de CV (“Marmar”) for the Santa Elena property (title 221448) and Marta Elena property (title 221447). The Marmar Agreement requires Mexus to contribute its interest in the Santa Elena and Marta Elena properties and Marmar will bear all costs associated with operations and administration. Profits from net revenues will be distributed 5% Mexus and 95% Marmar until Marmar recovers its operating and administration costs. Thereafter, net revenues with be distributed 50% Mexus and 50% Marmar.

On April 16, 2018, the Company announced that it terminated its joint venture agreement with MarMar. The agreement outlined the contractual obligations at the Santa Elena project in Caborca, Sonora State, Mexico. The decision to terminate the agreement was made due to MarMar’s lack of funding for the project, non-compliance with various aspects of the agreement, and their inability to meet environmental standards at the site. The Company intends to move forward on the project with the proper equipment and personnel.

(c)   San Felix Project

Effective January 13, 2017, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company, entered into a purchase agreement with Jesus Leopoldo Felix Mazon, Leonardo Elias Jaime Perez, and Elia Lizardi Perez, wherein the Company purchased a 50% interest in the “San Felix” mining site located in the La Alameda area of Caborca, State of Sonora, Mexico. The remaining 50% of the site is owned jointly by Mar Holdings S.A. de C.V. and Marco Antonio Martinez Mora.

The San Felix mining site contains seven (7) concessions over an area of approximately 26,000 acres.

The total purchase price is US$2,000,000 of which the Company is 50% responsible. The required payment schedule is a follows: $150,000 by January 30, 2017, $500,000 by August 13, 2017, $500,000 by March 13, 2018, $500,000 by October 13, 2018, and $350,000 by May 13, 2019. On January 30, 2017, the Company paid $75,000 (50% of $150,000).

During the year ended March 31, 2018, the Company recorded an impairment of mineral property for the San Felix Project of $75,000 because the requirement payment of $500,000 due on August 13, 2017 was not paid in accordance with the purchase agreement.

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Property and Equipment

12 Months Ended

Mar. 31, 2018

Notes

Property and Equipment

6.     PROPERTY & EQUIPMENT

		Cost		Accumulated Depreciation		March 31, 2018 Net Book Value		March 31, 2017 Net Book Value
Mining tools and equipment	$	1,553,931	$	1,109,665	$	444,266	$	490,888
Vehicles		159,085		133,031		26,054		14,695
	$	1,713,016	$	1,242,696	$	470,320	$	505,583

During the year ended March 31, 2017, equipment held for sale with a carrying value of $133,216 was reclassified as mining tools and equipment with carrying value of $220,732 resulting in gain on sale of equipment of $99,824 and write down of equipment held for sale of $12,308.

During the year ended March 31, 2017 equipment of total cost net of accumulated depreciation of $12,942 and a gain of $442 and was recognized.

Depreciation expense for the years ended March 31, 2018 and 2017 was $255,776 and $226,632, respectively.

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Accounts Payable - Related Parties

12 Months Ended

Mar. 31, 2018

Notes

Accounts Payable - Related Parties

7.     ACCOUNTS PAYABLE – RELATED PARTIES

During the years ended March 31, 2018 and 2017, the Company incurred rent expense to Paul D. Thompson, the sole director and officer of the Company, of $45,600 and $45,600, respectively.  At March 31, 2018 and 2017, $97,023 and $65,203 for this obligation is outstanding, respectively.

Compensation

On July 2, 2015, the Company entered into a compensation agreement with Paul D. Thompson, the sole director and officer of the Company. Mr. Thompson is compensated $15,000 per month and has the option to take payment in Company stock valued at an average of 5 days closing price, cash payments or deferred payment in stock or cash. In addition, Mr. Thompson is due 2,000,000 shares of common stock at the end of each fiscal quarter. At March 31, 2018 and 2017, $277,646 and $195,657 of compensation due is included in accounts payable – related party, respectively and $32,600 for 2,000,000 shares of common stock due is included in share subscriptions payable, respectively.

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Notes Payable - Related Parties

12 Months Ended

Mar. 31, 2018

Notes

Notes Payable - Related Parties

8.     NOTES PAYABLE – RELATED PARTIES

Notes due to Taurus Gold, Inc. are unsecured, non-interest bearing and due on demand.  These notes were accumulated through a series of cash advances to the Company. Taurus Gold, Inc. is controlled by Paul D. Thompson, the sole director and officer of the Company.  As of March 31, 2018 and 2017, notes payable due to Taurus Gold Inc. totaled $0 and $67,223, respectively.

Notes due to North Pacific Gold were accumulated through a series of cash advances to the Company which are unsecured, non-interest bearing and due on demand. North Pacific Gold is controlled by Paul Thompson, Jr., an immediate family member of Paul D. Thompson, the sole director and officer of the Company. As of March 31, 2018 and 2017, notes payable due to North Pacific Gold totaled $20,078 and $19,531, respectively.

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Notes Payable

12 Months Ended

Mar. 31, 2018

Notes

Notes Payable

9.     NOTES PAYABLE

During the year ended March 31, 2014, the Company received cash advances of $164,502 from three unrelated shareholders of the Company. These advances are non-interest bearing, unsecured and have no specific terms of repayment. On August 19, 2014, the Company issued 1,750,020 shares of common stock valued at $70,000. The shares were issued in settlement of the convertible promissory note ($0.04 per share) to settle $87,501 in advances. As a result, the Company recorded a gain on settlement of debt of $17,501. On February 28, 2015, the Company issued 2,272,727 shares of common stock valued at $48,636 ($0.0214 per share) to settle $25,000 in advances. As a result, the Company recorded a loss on settlement of debt of $23,636. On August 24, 2015, $37,001 of these advances were settled on issuance of the convertible promissory note. At March 31, 2018 and 2017, the balance of these advances totaled $15,000 and $15,000, respectively.

During the years ended March 31, 2017, 2016 and 2015, the Company received $0 in advances,  various advances totaling $290,300 from nineteen investors and received various advances totaling $286,757 from twenty-two investors, respectively. These advances are unsecured and are due within 30 to 180 days of issue. Upon receipt of the cash advances, the Company paid a majority of the investors the value of their investment in shares of common stock of the Company as a finance fee. The investor has the option to be repaid when due by one of the following: (i) In cash (ii) One-half in cash and one—half in shares converted into common stock of the Company or (iii) The entire amount of the investment converted into shares of common stock of the Company. The conversion prices range from $0.0018 per share to $0.040 per share. For one promissory note with principal of $15,000 payments equal to 20% of cash proceeds received by the Company are due when equipment held for sale is sold.

During the year ended March 31, 2018 and 2017, the Company received various advances for notes payable totaling $135,000 from eight investors and received $0 in advances, respectively. These notes are unsecured, due in three to six months of issue and earn a finance fee of 15% to 20% of principal. The investors have the option for principal and the finance fee to be repaid when due by one of the following: (i) In cash or (ii) Converted into shares of common stock of the Company $0.02 to $0.10 per share. These notes were initially recorded net of a debt discount of $80,000 for a beneficial conversion feature with a corresponding increase in additional paid-in capital of $80,000. In conjunction with issuance of these notes payable 300,000 shares of common stock of the Company valued at $9,568 were issued to the note holders and recorded as debt discount. At March 31, 2018 and 2017, a debt discount of $0 and $0, respectively has been recorded on the consolidated balance sheet related to these notes.

During the year ended March 31, 2018 and 2017, note principal and interest of $95,000 and $132,000 was paid through the issuance of shares of common stock, respectively, and $0 and $26,500 in cash, respectively.

At March 31, 2018 and 2017, the balance of these advances totaled $83,600 and $43,600, respectively. At March 31, 2018, $53,300 of these notes were in default. There are no default provisions stated in the notes.  At March 31, 2018 and 2017 accrued interest of $6,236 and $6,236, respectively, is included in accounts payable and accrued liabilities.

On January 19, 2016, the Company issued a promissory note (“Note”) with a principal of amount of $77,150 bearing interest of 10% per annum to settle $77,150 in accounts payable due for accounting fees. Payments equal to 15% of cash proceeds received by the Company are due when equipment held for sale is sold. Any unpaid principal and interest is due in full on July 19, 2016. At March 31, 2018 and 2017, the balance of this note was $74,297 and $74,297, respectively. At March 31, 2018, this note was in default. There are no default provisions stated in the Note. On May 25, 2018, the Company issued 7,429,654 shares of common stock valued at $133,734 ($0.0180 per share) to settle the Note resulting in a loss on settlement of $56,584. See Note 16 Subsequent Events.

Amortization of debt discount was $89,567 and $54,112 for the year ended March 31, 2018 and 2017, respectively.

The amount by which the if-converted value of notes payable exceeds principal of notes payable at March 31, 2018 is $70,544.

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Promissory Notes

12 Months Ended

Mar. 31, 2018

Notes

Promissory Notes

10.  PROMISSORY NOTES

On April 18, 2013, the Company issued Promissory Notes for $255,000 in cash. The Notes bear interest of 4% per annum and are due on December 31, 2013. The Notes are secured by all of Mexus Gold US shares of stock in Mexus Resources S.A. de C.V. and a personal guarantee of Paul D. Thompson. In addition, a fee of 2,550,000 shares of common stock of the Company valued at $501,075 ($0.1965 per share) was paid to the Note holders on April 18, 2013.  These financing fees were capitalized in the consolidated balance sheet as deferred finance expense and were being amortized on a straight-line basis, which approximates the effective interest rate method, as interest expense over the life of the Promissory Notes. On August 24, 2015, $100,000 of these Promissory Notes were settled on issuance of a convertible promissory note. On December 1, 2015, $60,000 of these Promissory Notes were settled on issuance of a convertible promissory note. On September 19, 2016, the Company issued 570,750 shares of common stock with a fair value $44,234 ($0.0775 per share) to settle a promissory note with principal of $20,000. On March 31, 2017, a promissory note with principal of $10,000 was settled for no consideration and recorded as a gain on the consolidated statement of operations. At March 31, 2018 and 2017, outstanding Promissory Note were $65,000 and $65,000, respectively. As of March 31, 2018, the Company has not made the scheduled payments and is in default on these promissory notes.  The default rate on the notes is seven percent.  At March 31, 2018 and 2017 accrued interest of $24,673 and $25,399, respectively, is included in accounts payable and accrued liabilities.

On August 24, 2015, the Company issued a convertible promissory note (“Note”) for a total amount of $343,973 due on February 24, 2017 to William H. Brinker (“Holder”). The total amount of the Note is due in three equal payments plus any accrued interest at 180 days, 360 days and 540 days from the issuance date. The Holder upon annual election may elect to be paid in cash or stock (but not both) as follows: (a) in cash, with interest at 4% per annum (b) in shares of common stock of the Company, with interest at 12% per annum (“Stock Payment”). For a Stock Payment, the number of shares is determined by multiplying the outstanding principal of the Note by 12% divided by 100% of the average of the closing price of the Stock for ten trading days immediately preceding the payment date. This Note has been accounted for in accordance with ASC 480 Distinguishing Liabilities from Equity. In consideration of the Company issuing the Note, the Holder agreed to cancel all other notes, contracts or other agreements with a carrying value totaling $458,402 prior to the issuance of the Note comprising unsecured promissory note dated January 8, 2013 of $140,000, promissory note of $100,000 dated April 18, 2013, various notes payable of $41,001, interest payable of $9,372 and share subscriptions payable of $168,029. In conjunction with the Note, on September 2, 2015, the Company issued the Holder 8,732,880 shares of common stock with a fair value of $134,486 ($0.0154 per share) which was recorded as debt discount. The issuance of the Note resulted in gain on settlement of $114,429. On September 19, 2016, the Company issued 6,665,786 shares of common stock with a fair value $516,597 ($0.0775 per share) to fully settle the Note with principal of $343,973 and a note payable with principal of $30,000. At March 31, 2018 and 2017, the outstanding Note payable was $0.

On December 1, 2015, the Company issued a convertible promissory note (“Note”) dated August 24, 2015 for a total amount of $41,189 due on February 24, 2017 to David Long (“Holder”). The total amount of the Note is due in three equal payments plus any accrued interest at 180 days, 360 days and 540 days from the date of the Note. The Holder upon annual election may elect to be paid in cash or stock (but not both) as follows: (a) in cash, with interest at 4% per annum (b) in shares of common stock of the Company, with interest at 12% per annum (“Stock Payment”). For a Stock Payment, the number of shares is determined by multiplying the outstanding principal of the Note by 12% divided by 100% of the average of the closing price of the Stock for ten trading days immediately preceding the payment date. This Note has been accounted for in accordance with ASC 480 Distinguishing Liabilities from Equity. In consideration of the Company issuing the Note, the Holder agreed to cancel all other notes, contracts or other agreements with a carrying value totaling $60,000 prior to the issuance of the Note comprising a promissory note of $60,000 dated April 18, 2013. In conjunction with the Note, on September 2, 2015, the Company issued the Holder 686,475 shares of common stock with a fair value of $10,297 ($0.015 per share) which was recorded as debt discount. The issuance of the Note resulted in gain on settlement of $18,811. On September 19, 2016, the Company issued 800,000 shares of common stock with a fair value $62,000 ($0.0775 per share) to fully settle the promissory note with principal of $41,189. At March 31, 2018 and 2017, the outstanding Note payable was $0.

Amortization of debt discount was $0 and $88,480 for the years ended March 31, 2018 and 2017, respectively.

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Convertible Promissory Note

12 Months Ended

Mar. 31, 2018

Notes

Convertible Promissory Note

11.  CONVERTIBLE PROMISSORY NOTE

On November 14, 2017, the Company issued a Convertible Promissory Note (“Note”) to JMJ Financial (“Holder”), for a principal sum of $166,667 plus one-time 10% interest charge of $16,667 which matures on May 14, 2018 for $150,000 in cash. The Company may repay the Note and interest any time in cash before the maturity date without a prepayment penalty. If the Company defaults on repayment, this Note together with any unpaid accrued interest is convertible into shares of common stock at the Holder’s option at a variable conversion price calculated as lesser of (a) $0.0375 or (b) 50% (40% if the conversion shares are not deliverable by DWAC) of the lowest trade occurring during the 25 consecutive trading days immediately preceding the conversion date. On issuance of the Note, an embedded derivative with a fair value of $66,205 was identified and recorded as debt discount (See Note 11). In conjunction with the Note, the Company issued 3,591,940 shares of common stock (“Origination Shares”) of the Company which was recorded as debt discount. The number of Origination Shares is subject to a reset on the six month anniversary of the Note equal to the $166,667 divided by the lowest daily price of shares of common stock (i) during the 10 days before the delivery of the Origination Shares (ii) during the ten days prior to the date of the Note or (iii) during the ten days prior to the date of the six month anniversary (“Top-off Liability”). The Origination Shares and the Note were valued at $51,920 and $31,875 upon issuance, respectively, using the relative fair value method. Additional interest expense is accreted on the Note between issuance and maturity dates with the expectation that principal and interest is likely to be settled in shares of common stock of the Company at a variable conversion price calculated at 40% of trade price of common stock of the Company. At March 31, 2018, the principal and interest outstanding of $391,482 is recorded net of unamortized debt discount of $36,818 and a Top-off Liability of $58,067 is included accounts payable and accrued liabilities. Interest and amortization of debt discount was $380,856 for the year ended March 31, 2018.

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Convertible Promissory Note Derivative Liabilities

12 Months Ended

Mar. 31, 2018

Notes

Convertible Promissory Note Derivative Liabilities

12.  CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

The Convertible Promissory Notes with JMJ Financial with an issue date of November 14, 2017 was accounted for under ASC 815.  The variable conversion price is not considered predominately based on a fixed monetary amount settleable with a variable number of shares due to the volatility and trading volume of the Company’s common stock. The Company’s convertible promissory note derivative liabilities has been measured at fair value at November 14, 2017 and March 31, 2018 using the Black-Scholes model.

The inputs into the Black-Scholes models are as follows:

		November 14, 2017		March 31, 2018
Closing share price	$	0.038	$	0.02467
Conversion price	$	0.0348	$	0.0200
Risk free rate		0.050%		0.050%
Expected volatility		109%		157%
Dividend yield		0%		0%
Expected life		0.5 years		0.13 years

The fair value of the conversion option derivative liability is $66,205 and $68,934 at November 14, 2017 and March 31, 2018, respectively. The increase in the fair value of the conversion option derivative liability of $2,729 is recorded as a loss in the consolidated statements of operations for the year ended March 31, 2018.

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Contingent Liabilities

12 Months Ended

Mar. 31, 2018

Notes

Contingent Liabilities

13.  CONTINGENT LIABILITIES

An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.  While the Company, as of March 31, 2018, does not have a legal obligation associated with the disposal of certain chemicals used in its leaching process, the Company estimates it will incur costs up to $50,000 to neutralize those chemicals at the close of the leaching pond.

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Stockholders' Equity (Deficit)

12 Months Ended

Mar. 31, 2018

Notes

Stockholders' Equity (Deficit)

14.  STOCKHOLDERS’ EQUITY (DEFICIT)

The stockholders’ equity of the Company comprises the following classes of capital stock as of March 31, 2018 and 2017:

Preferred Stock, $0.001 par value per share; 9,000,000 shares authorized, 0 issued and outstanding at March 31, 2018 and 2017.

Series A Convertible Preferred Stock (‘Series A Preferred Stock”), $0.001 par value share; 1,000,000 shares authorized:1,000,000 shares issued and outstanding at March 31, 2018 and 2017.

Holders of Series A Preferred Stock may convert one share of Series A Preferred Stock into ten shares of Common Stock.  Holders of Series A Preferred Stock have the number of votes determined by multiplying (a) the number of Series A Preferred Stock held by such holder, (b) the number of issued and outstanding Series A Preferred Stock and Common Stock on a fully diluted basis, and (c) 0.000006. 

Common Stock, par value of $0.001 per share; 2,000,000,000 shares authorized:775,922,947[ACI2]  and 665,556,526 shares issued and outstanding at March 31, 2018 and 2017, respectively. Holders of Common Stock have one vote per share of Common Stock held.

(i)  Year Ended March 31, 2018

On April 11, 2017, the Company issued 1,097,826 shares of common stock to satisfy obligations under share subscription agreements for $9,000 for settlement of equipment and $50,000 in cash receipts included in share subscriptions payable.

On April 17, 2017, the Company issued 621,954 shares of common stock to satisfy obligations under share subscription agreements for $15,000 for settlement of services and $25,000 in cash receipts included in share subscriptions payable.

On May 15, 2017, the Company issued 108,696 shares of common stock to satisfy obligations under share subscription agreements for $10,000 for settlement of services included in share subscriptions payable.

On June 2, 2017, the Company issued 4,593,333 shares of common stock to satisfy obligations under share subscription agreements for $41,300 for settlement of services and $36,500 in cash receipts included in share subscriptions payable.

On July 5, 2017, the Company issued 600,000 shares of common stock to satisfy obligations under share subscription agreements for $5,760 for settlement of services and $32,485 for settlement of stock payable included in share subscriptions payable.

On July 11, 2017, the Company issued 2,949,253 shares of common stock to satisfy obligations under share subscription agreements for $25,975 for settlement of services and $88,500 in cash receipts included in share subscriptions payable.

On August 1, 2017, the Company issued 3,693,333 shares of common stock to satisfy obligations under share subscription agreements for $38,000 for settlement of services and $76,500 in cash receipts included in share subscriptions payable.

On August 15, 2017, the Company issued 11,436,667 shares of common stock to satisfy obligations under share subscription agreements for $102,000 for settlement of accounts payable, $405,500 for settlement of services and $36,000 in cash receipts included in share subscriptions payable.

On September 12, 2017, the Company issued 4,500,000 shares of common stock to satisfy obligations under share subscription agreements for $85,400 for settlement of services and $71,600 in cash receipts included in share subscriptions payable.

On September 25, 2017, the Company issued 3,500,000 shares of common stock to satisfy obligations under share subscription agreements for $61,300 for settlement of services and $45,000 in cash receipts included in share subscriptions payable.

On September 28, 2017, the Company issued 2,275,000 shares of common stock to satisfy obligations under share subscription agreements for $23,500 for settlement of services and $35,500 in cash receipts included in share subscriptions payable.

On October 13, 2017, the Company issued 3,814,232 shares of common stock to satisfy obligations under share subscription agreements for $47,000 for settlement of services, $10,000 for settlement of notes payable, interest of $2,303 and $44,785 in cash receipts included in share subscriptions payable.

On November 6, 2017, the Company issued 5,430,030 shares of common stock to satisfy obligations under share subscription agreements for $57,575 for settlement of services, $4,000 for settlement of notes payable, interest of $2,395 and $16,040 in cash receipts included in share subscriptions payable.

On November 13, 2017, the Company issued 6,591,666 shares of common stock to satisfy obligations under share subscription agreements for $6,000 for settlement of services, $57,500 for settlement of notes payable, interest of $1,632 and $50,000 in cash receipts included in share subscriptions payable.

On November 30, 2017, the Company issued 3,591,940 shares of common stock to satisfy obligations under share subscription agreements for interest of $51,920 and included in share subscriptions payable.

On December 12, 2017, the Company issued 2,283,333 shares of common stock to satisfy obligations under share subscription agreements for $29,000 in cash receipts included in share subscriptions payable.

On December 14, 2017, the Company issued 3,600,000 shares of common stock to satisfy obligations under share subscription agreements for $136,800 for settlement of services included in share subscriptions payable.

On December 20, 2017, the Company issued 8,050,000 shares of common stock to satisfy obligations under share subscription agreements for $106,400 for settlement of services, $80,000 for equipment and $44,200 in cash receipts included in share subscriptions payable.

On December 28, 2017, the Company issued 6,250,000 shares of common stock to satisfy obligations under share subscription agreements for $250,000 for settlement of notes payable included in share subscriptions payable.

On January 5, 2018, the Company issued 7,666,666 shares of common stock to satisfy obligations under share subscription agreements for $79,400 for settlement of services, $162,500 for settlement of accounts payable, $825 for interest and $39,000 in cash receipts included in share subscriptions payable.

On January 19, 2018, the Company issued 583,332 shares of common stock to satisfy obligations under share subscription agreements for $9,000 for settlement of cash receipts included in share subscriptions payable.

On January 29, 2018, the Company issued 3,187,000 shares of common stock to satisfy obligations under share subscription agreements for $8,448 for settlement of services and $36,600 in cash receipts included in share subscriptions payable.

On January 30, 2018, the Company issued 527,779 shares of common stock to satisfy obligations under share subscription agreements for $13,895 for settlement of services and $3,556 in cash receipts included in share subscriptions payable.

On February 21, 2018, the Company issued 11,324,223 shares of common stock to satisfy obligations under share subscription agreements for $371,600 for settlement of services, $15,000 for settlement of notes payable and $31,000 in cash receipts included in share subscriptions payable.

On March 21, 2018, the Company issued 12,090,158 shares of common stock to satisfy obligations under share subscription agreements for $66,250 for settlement of services, $71,918 for settlement of notes payable, $35,317 for equipment and $28,500 in cash receipts included in share subscriptions payable.

(ii) Year Ended March 31, 2017

On May 19, 2016, the Company issued 19,027,777 shares of common stock to satisfy obligations under share subscription agreements for $35,300 in cash receipts included in share subscriptions payable.

On April 21, 2016, the Company issued 17,791,176 shares of common stock to satisfy obligations under share subscription agreements for $75,000 for settlement of interest, $47,400 in services and $5,000 in cash receipts included in share subscriptions payable.

On May 13, 2016, the Company issued 17,141,176 shares of common stock to satisfy obligations under share subscription agreements for $306,000 for settlement of accounts payable, $2,000 in equipment and $20,000 in cash receipts included in share subscriptions payable.

On July 6, 2016, the Company cancelled 1,830,600 shares of common stock previously issued to satisfy obligations under share subscription agreements for $27,459 for settlement of notes payable.

On August 12, 2016, the Company issued 8,150,000 shares of common stock to satisfy obligations under share subscription agreements for $305,000 for services and $41,000 in cash receipts included in share subscriptions payable.

On August 24, 2016, the Company issued 14,633,333 shares of common stock to satisfy obligations under share subscription agreements for $205,800 for services, $30,000 for settlement of accounts payable, $51,666 for settlement of notes payable and $114,500 in cash receipts included in share subscriptions payable.

On August 30, 2016, the Company issued 6,025,000 shares of common stock to satisfy obligations under share subscription agreements for $120,500 in cash receipts included in share subscriptions payable.

On September 26, 2016, the Company issued 8,710,000 shares of common stock to satisfy obligations under share subscription agreements for $176,600 for services and $14,200 in cash receipts included in share subscriptions payable.

On October 10, 2016, the Company issued 21,283,782 shares of common stock to satisfy obligations under share subscription agreements for $704,539 for settlement of notes payable, $394,265 in services and $93,000 in cash receipts included in share subscriptions payable.

On November 11, 2016, the Company issued 2,916,667 shares of common stock to satisfy obligations under share subscription agreements for $2,000 for settlement of notes payable, $8,037 for settlement of accounts payable, $29,463 in services and $10,000 in cash receipts included in share subscriptions payable.

On December 2, 2016, the Company issued 14,055,555 shares of common stock to satisfy obligations under share subscription agreements for $5,000 for settlement of notes payable, $20,000 for interest, $44,900 in services and $91,000 in cash receipts included in share subscriptions payable.

On December 12, 2016, the Company issued 33,918,729 shares of common stock to satisfy obligations under share subscription agreements for $44,000 for settlement of notes payable, $190,909 for interest, $1,687 for settlement of accounts payable, $22,499 for replacement of cancellation of shares, $251,650 in services and $36,436 in cash receipts included in share subscriptions payable.

On December 12, 2016, the Company cancelled 2,248,100 shares of common stock previously issued to satisfy obligations under share subscription agreements for $22,481 for settlement of notes payable.

On December 29, 2016, the Company issued 2,583,333 shares of common stock to satisfy obligations under share subscription agreements for $11,700 for services and $24,625 in cash receipts included in share subscriptions payable.

On February 6, 2017, the Company issued 2,534,136 shares of common stock to satisfy obligations under share subscription agreements for $61,425 in services and $38,000 in cash receipts included in share subscriptions payable.

On February 24, 2017, the Company issued 2,282,378 shares of common stock to satisfy obligations under share subscription agreements for $4,500 for settlement of accounts payable, $33,500 in services and $127,728 in cash receipts included in share subscriptions payable.

On February 28, 2017, the Company issued 6,100,000 shares of common stock to satisfy obligations under share subscription agreements for $104,500 in services included in share subscriptions payable.

On March 14, 2017, the Company issued 4,207,777 shares of common stock to satisfy obligations under share subscription agreements for $5,000 for settlement of notes payable and $63,000 in cash receipts included in share subscriptions payable.

On March 21, 2017, the Company issued 2,086,667 shares of common stock to satisfy obligations under share subscription agreements for $2,000 for settlement of notes payable and $21,000 in cash receipts included in share subscriptions payable.

On March 28, 2017, the Company issued 5,586,120 shares of common stock to satisfy obligations under share subscription agreements for $45,500 for settlement of accounts payable, $92,000 in services and $71,832 in cash receipts included in share subscriptions payable.

Common Stock Payable

(iii) Year Ended March 31, 2018

On June 26, 2017, the Company issued subscriptions payable for 500,000 shares in common stock valued at $32,485 ($0.06497 per share) to fully settle subscription payable and other liabilities totaling $137,004. The settlement resulted in an increase of additional paid-in capital of $104,519.

As at March 31, 2018, the Company had total subscriptions payable for 48,641,961 shares of common stock for $316,063 in cash, shares of common stock for equipment valued at $1,500, shares of common stock for interest valued at $7,412 and shares of common stock for services valued at $311,590.

(iv)  Year Ended March 31, 2017

As at March 31, 2017, the Company had total subscriptions payable for 26,024,576 shares of common stock for $260,287 in cash, shares of common stock for equipment valued at $10,500, shares of common stock for interest valued at $5,000, shares of common stock for services valued at $286,680 and common stock for settlement of notes payable valued at $9,000.

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Related Party Transactions

12 Months Ended

Mar. 31, 2018

Notes

Related Party Transactions

15.  RELATED PARTY TRANSACTIONS

During the years ended March 31, 2018 and 2017, the Company entered into the following transactions with related parties:

Paul D. Thompson, sole director and officer of the Company

Taurus Gold, Inc., controlled by Paul D. Thompson

Accounts payable – related parties – Note 7

Notes payable – related parties – Note 8

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Income Taxes

12 Months Ended

Mar. 31, 2018

Notes

Income Taxes

16.  INCOME TAXES

On December 22, 2017, the Tax Cuts and Jobs Act (the TCJA), which significantly modified U.S. corporate income tax law, was signed into law by President Trump. The TCJA contains significant changes to corporate income taxation, including but not limited to the reduction of the corporate income tax rate from a top marginal rate of 35% to a flat rate of 21%, limitation of the tax deduction for interest expense to 30% of earnings (except for certain small businesses), limitation of the deduction for net operating losses to 80% of current year taxable income and generally eliminating net operating loss carrybacks, allowing net operating losses to carryforward without expiration, one-time taxation of offshore earnings at reduced rates regardless of whether they are repatriated, elimination of U.S. tax on foreign earnings (subject to certain important exceptions), immediate deductions for certain new investments instead of deductions for depreciation expense over time, and modifying or repealing many business deductions and credits (including changes to the orphan drug tax credit and changes to the deductibility of research and experimental expenditures that will be effective in the future). Notwithstanding the reduction in the corporate income tax rate, the overall impact of the new federal tax law is uncertain, including to what extent various states will conform to the newly enacted federal tax law.

The Company has not recorded the necessary provisional adjustments in the financial statements in accordance with its current understanding of the TCJA and guidance currently available as of this filing. But is reviewing the TCJA’s potential ramifications.

The Company had no income tax expense due to operating loss incurred for the years ended March 31, 2018 and 2017.

The tax effects of temporary differences and tax loss and credit carry forwards that give rise to significant portions of deferred tax assets and liabilities at March 31, 2018 and 2017 are comprised of the following:

		Year Ended March 31, 2018		Year Ended March 31, 2017
Deferred tax assets:
Net-operating loss carryforward	$	3,619,659	$	5,465,982
Total deferred tax assets		3,619,659		5,465,982
Valuation allowance		(3,619,659)		(5,465,982)
Deferred tax assets, net of allowance	$	-	$	-

		Year Ended March 31, 2018		Year Ended March 31, 2017
Federal
Current	$	-	$	-
Deferred		3,619,659		5,465,982[ACI3]
State
Current		-		-
Deferred		-		-
Change in valuation allowance		(3,619,659)		(5,465,982)
Income tax provision	$	-	$	-

During the ended March 31, 2018, the deferred tax asset was decreased by $2,186,393 for the reduction in the enacted U.S Federal corporate tax rate to 21% in 2018.

At March 31, 2018, the Company had net operating loss carry forwards for federal tax purposes of approximately $17.2 million which expires in years 2030 through 2038. It appears that the Company had generated net operating losses, since 2010, which the Company’s preliminary analysis indicates would be subject to significant limitations pursuant to Internal Revenue Code Section 382. The Company has not completed its IRC Section 382 Valuation, as required and the NOL’s because of potential Change of Ownerships might be completely worthless. Therefore, Management of the Company has recorded a full valuation reserve; since it is more likely than not that no benefit will be realized for the Deferred Tax Assets.

In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and taxing strategies in making this assessment. In case the deferred tax assets will not be realized in future periods, the Company has provided a valuation allowance for the full amount of the deferred tax assets at March 31, 2018. The valuation allowance increased by approximately $0.3 million as of March 31, 2018.

Corporations resident in Mexico are taxable on their worldwide income from all sources, including profits from business and property. The Company is subject to Mexico tax at a rate of 30% on taxable income, if any, from Mexico operations.

The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows:

		Year Ended March 31, 2018		Year Ended March 31, 2017
Statutory Federal Income Tax Rate		21%		35%
Change in valuation allowance		-21%		-35%
Income tax provision	$	-	$	-

The Company has not identified any uncertain tax positions requiring a reserve as of March 31, 2018

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Subsequent Events

12 Months Ended

Mar. 31, 2018

Notes

Subsequent Events

17.  SUBSEQUENT EVENTS

Increase in the Number of Authorized Shares

On June 4, 2018, the Company’s board of directors and the majority shareholder approved an increase in the number of authorized shares of common stock of the Company from eight hundred fifty million (850,000,000) shares of common stock, par value $0.001 per share, to two billion (2,000,000,000) shares of common stock, par value $0.001 per share. Information in these consolidated financial statements have been restated to retroactively reflect this increase.

Common Stock Issued

On April 2, 2018, the Company issued 5,300,000 shares of common stock to satisfy obligations under share subscription agreements of $22,610 for settlement of services and $25,000 for cash receipts included in share subscriptions payable.

On April 16, 2018, the Company issued 18,600,000 shares of common stock to satisfy obligations under share subscription agreements of $186,000 for cash receipts included in share subscriptions payable.

On May 2, 2018, the Company issued 2,800,000 shares of common stock to satisfy obligations under share subscription agreements of $32,400 for settlement of accounts payable and $10,000 for cash receipts included in share subscriptions payable.

On May 24, 2018, the Company issued 5,945,410 shares of common stock to satisfy obligations under share subscription agreements of $70,050 for settlement of services and $25,280 for cash receipts included in share subscriptions payable.

On May 30, 2018, the Company issued 4,269,663 shares of common stock to satisfy obligations under share subscription agreements of $67,888 for settlement of the Top-off Liability included in accounts payable and accrued liabilities (see Note 10) included in share subscriptions payable.

On June 12, 2018, the Company issued 350,000 shares of common stock to satisfy obligations under share subscription agreements of $5,425 for services included in share subscriptions payable.

Common Stock Payable

For the period of April 1, 2018 to July 2, 2018, the Company issued subscriptions payable for 33,150,000 shares of common stock ($0.0051 per share) for $170,000 in cash.

For the period of April 1, 2018 to July 2, 2018, the Company issued subscriptions payable for 4,750,000 shares of common stock ($0.0146 per share) for $69,425 in services.

For the period of April 1, 2018 to July 2, 2018, the Company issued subscriptions payable for 6,069,663 shares of common stock ($0.0165 per share) for $100,288 in settlement of accounts payables and accrued liabilities.

For the period of April 1, 2018 to July 2, 2018, the Company issued subscriptions payable for 7,429,654 shares of common stock ($0.0180 per share) for $133,734 for the settlement of a Promissory Note on May 25, 2018 (see Promissory Note settled for shares of common stock on May 25, 2018 below).

For the period of April 1, 2018 to July 2, 2018, the Company issued subscriptions payable for 1,752,000 shares of common stock ($0.0162 per share) for $28,345 in conjunction with Promissory Notes issued from May 9, 2018, to May 15, 2018 (see Promissory Notes issued from May 9, 2018 to May 15, 2018 below).

Promissory Notes

From May 9, 2018 to May 15, 2018, the Company issued various Promissory Notes (“Notes”) for $109,500 in cash. The Notes are unsecured, mature six months after the issue date and earn interest at 12% per annum. In addition, in conjunction with the issuance of the Notes the Company issued 16 shares of common stock of the Company for each $1 of Notes purchased for a total of 1,752,000 shares valued at $28,345. If the Notes and interest are not paid in cash on the maturity date, the Company will pay the Holders the numbers of shares of common stock of the Company calculated as the total outstanding principal and interest divided by 50% of the 30 average closing share price immediately before the maturity date.

On May 25, 2018, the Company issued 7,429,654 shares of common stock valued at $133,734 ($0.0180 per share) to settle a Promissory Note issued on January 19, 2016 with a carrying value for outstanding principal and interest of $77,150 resulting in a loss on settlement of $56,584 (See Note 8).

JMJ Financial

On May 16, 2018, the Company paid JMJ Financial $183,333 in cash to fully settle the Convertible Promissory Note issued on November 14, 2017 (see Note 10).

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Summary of Significant Accounting Principles: Basis of Consolidation (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Basis of Consolidation

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and controlled subsidiaries, Mexus Gold Mining, S.A. de C.V. (“Mexus Gold Mining), Mexus Enterprises S.A. de C.V. (“Mexus Gold Enterprises”) and Mexus Gold MX S.A. DE C.V. (“Mexus Gold MX”). Significant intercompany accounts and transactions have been eliminated. 

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Summary of Significant Accounting Principles: Use of Estimates (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Use of Estimates

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Management believes that the estimates used are reasonable. The more significant estimates and assumptions by management include, among others, the accrual of potential liabilities, the assumptions used in valuing share-based instruments issued for services, valuation of derivative liabilities and the valuation allowance for deferred tax assets.

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Summary of Significant Accounting Principles: Cash and Cash Equivalents (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Cash and Cash Equivalents

Cash and cash equivalents

The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

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Summary of Significant Accounting Principles: Equipment (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Equipment

Equipment

Equipment consists of mining tools and equipment, watercraft and vehicles which are depreciated on a straight-line basis over their expected useful lives as follows (see Note 5):

Mining tools and equipment	7 years
Watercrafts	7 years
Vehicles	3 years

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Summary of Significant Accounting Principles: Equipment under Construction (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Equipment under Construction

Equipment under Construction

Equipment under construction comprises mining equipment that is currently being fabricated and modified by the Company and is not presently in use. Equipment under construction totaled $73,456 and $73,456 as of March 31, 2018 and 2017, respectively.  Equipment under construction at March 31, 2018 comprises a Gold Recovery Cyanide Plant, Hydraulic Drum 12YD, Skid Mounted Mill and Survey Winch Marine.

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Summary of Significant Accounting Principles: Exploration and Development Costs (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Exploration and Development Costs

Exploration and Development Costs

Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.

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Summary of Significant Accounting Principles: Mineral Property Rights (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Mineral Property Rights

Mineral Property Rights

Costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred either to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets.

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Summary of Significant Accounting Principles: Long-Lived Assets (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Long-Lived Assets

Long-Lived Assets

In accordance with ASC 360, Property Plant and Equipment the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

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Summary of Significant Accounting Principles: Fair Value of Financial Instruments (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Fair Value of Financial Instruments

Fair Value of Financial Instruments

ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item.

The Company's financial instruments consist of cash, accounts payable, accrued liabilities, advances, notes payable, and a promissory note payable. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Secured convertible promissory note derivative liability is measured at fair value on a recurring basis using Level 3 inputs.

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The notes payable, loans payable and secured convertible promissory notes have fixed interest rates therefore the Company is exposed to interest rate risk in that they could not benefit from a decrease in market interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities.

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Summary of Significant Accounting Principles: Derivative Instruments (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Derivative Instruments

Derivative Instruments

Accounting standards require that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value.  A change in the market value of the financial instrument is recognized as a gain or loss in results of operations in the period of change.

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Summary of Significant Accounting Principles: Foreign Currency Translation (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Foreign Currency Translation

Foreign Currency Translation

The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated to United States dollars in accordance with ASC 740, Foreign Currency Translation Matters, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income.

To the extent that the Company incurs transactions that are not denominated in its functional currency, they are undertaken in Mexican Pesos. The Company has not, as of the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

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Summary of Significant Accounting Principles: Comprehensive Loss (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Comprehensive Loss

Comprehensive Loss

ASC 220, Comprehensive Income establishes standards for the reporting and display of comprehensive loss and its components in the consolidated financial statements. As at March 31, 2018 and 2017, the Company had no items that represent a comprehensive loss, and therefore has not included a schedule of comprehensive loss in the consolidated financial statements.

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Summary of Significant Accounting Principles: Income Taxes (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Income Taxes

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Accounting for Income Tax”. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

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Summary of Significant Accounting Principles: Asset Retirement Obligations (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Asset Retirement Obligations

Asset Retirement Obligations

In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of March 31, 2018 and 2017, the Company has not recorded AROs associated with legal obligations to retire any of the Company’s mineral properties as the settlement dates are not presently determinable.

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Summary of Significant Accounting Principles: Revenue Recognition (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Revenue Recognition

Revenue Recognition

The Company follows the guidance of the Securities and Exchange Commission’s Staff Accounting Bulletin (“SAB”) 104 for revenue recognition and Accounting Standards Codification (“ASC”) Topic 605, “Revenue Recognition.” Accordingly, the Company records revenue when persuasive evidence of an arrangement exists, services have been rendered or product delivery has occurred, the selling price to the customer is fixed or determinable and collectability of the revenue is reasonably assured.

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Summary of Significant Accounting Principles: Stock-based Compensation (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Stock-based Compensation

Stock-based Compensation

The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.

ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505. 

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Summary of Significant Accounting Principles: Per Share Data (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Per Share Data

Per Share Data

Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.

At March 31, 2018 and 2017, we excluded the outstanding securities summarized below, which entitle the holders thereof to acquire shares of common stock as their effect would have been anti-dilutive:

	March 31, 2018	March 31, 2017
Common stock issuable upon conversion of convertible notes payable	13,675,741	3,709,091
Common stock issuable to satisfy stock payable obligations	48,641,961	26,024,576
Total	62,317,702	29,733,667

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Summary of Significant Accounting Principles: Recently Issued Accounting Pronouncements (Policies)

12 Months Ended

Mar. 31, 2018

Policies

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606).  ASU 2014-09, as amended, is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition.  Under ASU 2014-09, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services.  In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers.  ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.   Under ASU 2014-09, revenue will be recognized when performance obligations under the terms of a contract are satisfied, which generally occurs upon shipment or delivery to customers based on written sales terms, which is also when control is transferred.  Revenue will be measured as the amount of consideration we expect to receive in exchange for transferring products or services to a customer.   The Company will adopt the guidance of ASU 2014-09 on April 1, 2018.  As the Company does not currently have revenue, the adoption of the new guidance is not expected to impact the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases.  ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months.  ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018.  Early adoption is permitted.  A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available.  The Company is currently evaluating the expected impact that the standard could have on its consolidated financial statements and related disclosures.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

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Summary of Significant Accounting Principles: Equipment: Schedule of Depreciation (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Depreciation

Mining tools and equipment	7 years
Watercrafts	7 years
Vehicles	3 years

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Summary of Significant Accounting Principles: Per Share Data: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

	March 31, 2018	March 31, 2017
Common stock issuable upon conversion of convertible notes payable	13,675,741	3,709,091
Common stock issuable to satisfy stock payable obligations	48,641,961	26,024,576
Total	62,317,702	29,733,667

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Mineral Properties and Exploration Costs: Schedule of Mineral Property Acquisition Costs capitalized on the Consolidated Balance Sheets (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Mineral Property Acquisition Costs capitalized on the Consolidated Balance Sheets

		Balance March 31, 2017		Cash Payments		Share-based Payments		Impairment		Balance March 31, 2018
Ures Property (a)	$	-	$	-	$	-	$	-	$	-
Santa Elena Mine (b)		505,947		-		-		-		505,947
San Felix Project (c)		75,000		-		-		(75,000)		-
	$	580,947	$	-	$	-	$	(75,000)	$	505,947

		Balance March 31, 2016		Cash Payments		Share-based Payments		Impairment		Balance March 31, 2017
Ures Property (a)	$	-	$	-	$	-	$	-	$	-
Santa Elena Mine (b)		505,947		-		-		-		505,947
San Felix Project (c)		-		75,000		-		-		75,000
	$	505,947	$	75,000	$	-	$	-	$	580,947

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Mineral Properties and Exploration Costs: Schedule of Mineral Property Acquisition Costs capitalized on the Consolidated Statements of Operation (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Mineral Property Acquisition Costs capitalized on the Consolidated Statements of Operation

		Balance March 31, 2017		Cash Payments		Share-based Payments		Balance March 31, 2018
Ures Property (a)	$	1,929,984	$	138,644	$	20,910	$	2,089,538
Santa Elena Mine (b)		3,940,761		483,149		244,500		4,668,410
	$	5,870,745	$	621,793	$	265,410	$	6,757,948

		Balance March 31, 2016		Cash Payments		Share-based Payments		Balance March 31, 2017
Ures Property (a)	$	1,910,649	$	19,335	$	-	$	1,929,984
Santa Elena Mine (b)		2,786,147		285,299		869,315		3,940,761
	$	4,696,796	$	304,634	$	869,315	$	5,870,745

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Property and Equipment: Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Property, Plant and Equipment

		Cost		Accumulated Depreciation		March 31, 2018 Net Book Value		March 31, 2017 Net Book Value
Mining tools and equipment	$	1,553,931	$	1,109,665	$	444,266	$	490,888
Vehicles		159,085		133,031		26,054		14,695
	$	1,713,016	$	1,242,696	$	470,320	$	505,583

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Convertible Promissory Note Derivative Liabilities: Schedule of Convertible Promissory Note Inputs into the Black Scholes Models (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Convertible Promissory Note Inputs into the Black Scholes Models

		November 14, 2017		March 31, 2018
Closing share price	$	0.038	$	0.02467
Conversion price	$	0.0348	$	0.0200
Risk free rate		0.050%		0.050%
Expected volatility		109%		157%
Dividend yield		0%		0%
Expected life		0.5 years		0.13 years

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Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Deferred Tax Assets and Liabilities

		Year Ended March 31, 2018		Year Ended March 31, 2017
Deferred tax assets:
Net-operating loss carryforward	$	3,619,659	$	5,465,982
Total deferred tax assets		3,619,659		5,465,982
Valuation allowance		(3,619,659)		(5,465,982)
Deferred tax assets, net of allowance	$	-	$	-

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Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Components of Income Tax Expense (Benefit)

		Year Ended March 31, 2018		Year Ended March 31, 2017
Federal
Current	$	-	$	-
Deferred		3,619,659		5,465,982[ACI3]
State
Current		-		-
Deferred		-		-
Change in valuation allowance		(3,619,659)		(5,465,982)
Income tax provision	$	-	$	-

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Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

12 Months Ended

Mar. 31, 2018

Tables/Schedules

Schedule of Effective Income Tax Rate Reconciliation

		Year Ended March 31, 2018		Year Ended March 31, 2017
Statutory Federal Income Tax Rate		21%		35%
Change in valuation allowance		-21%		-35%
Income tax provision	$	-	$	-

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Organization and Business of Company (Details)	12 Months Ended
	Mar. 31, 2018
Details
Registrant Name	Mexus Gold US
Entity Incorporation, Date of Incorporation	Jun. 22, 1990
Entity Information, Former Legal or Registered Name	U.S.A. Connection, Inc.
Entity Information, Date to Change Former Legal or Registered Name	Sep. 18, 2009
Entity Incorporation, State Country Name	Nevada

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Going Concern (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Details
Net Income (Loss) Attributable to Parent	$ (3,909,961)	$ (3,806,697)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(1,057,569)	(819,230)
Accumulated deficit	$ (26,853,994)	$ (22,944,033)

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Summary of Significant Accounting Principles: Equipment: Schedule of Depreciation (Details)	12 Months Ended
	Mar. 31, 2018
Mining tools and equipment
Property, Plant and Equipment, Useful Life	7 years
Watercrafts
Property, Plant and Equipment, Useful Life	7 years
Vehicles
Property, Plant and Equipment, Useful Life	3 years

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Summary of Significant Accounting Principles: Equipment under Construction (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Details
Equipment under construction	$ 73,456	$ 73,456

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Summary of Significant Accounting Principles: Per Share Data: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	Mar. 31, 2018	Mar. 31, 2017
Details
Common stock issuable upon conversion of convertible notes payable	13,675,741	3,709,091
Common stock issuable to satisfy stock payable obligations	48,641,961	26,024,576
Outstanding Securities excluded	62,317,702	29,733,667

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Deposit on Mineral Properties (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Deposit on mineral property	$ 324,000	$ 0
Common Stock
Shares issued for deposit on mineral property, shares	6,000,000

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Mineral Properties and Exploration Costs: Schedule of Mineral Property Acquisition Costs capitalized on the Consolidated Balance Sheets (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Ures Property
Property, Capitalized on Consolidated Balance Sheets, Balance	$ 0	$ 0
Property, Capitalized on Consolidated Blance Sheets, Cash Payments	0	0
Property, Capitalized on Consolidated Blance Sheets, Share-based Payments	0	0
Property, Capitalized on Consolidated Balance Sheets, Impairment	0	0
Property, Capitalized on Consolidated Balance Sheets, Balance	0	0
Santa Elena Mine
Property, Capitalized on Consolidated Balance Sheets, Balance	505,947	505,947
Property, Capitalized on Consolidated Blance Sheets, Cash Payments	0	0
Property, Capitalized on Consolidated Blance Sheets, Share-based Payments	0	0
Property, Capitalized on Consolidated Balance Sheets, Impairment	0	0
Property, Capitalized on Consolidated Balance Sheets, Balance	505,947	505,947
San Felix Project
Property, Capitalized on Consolidated Balance Sheets, Balance	75,000	0
Property, Capitalized on Consolidated Blance Sheets, Cash Payments	0	75,000
Property, Capitalized on Consolidated Blance Sheets, Share-based Payments	0	0
Property, Capitalized on Consolidated Balance Sheets, Impairment	(75,000)	0
Property, Capitalized on Consolidated Balance Sheets, Balance	0	75,000
Property, Capitalized on Consolidated Balance Sheets, Balance	580,947	505,947
Property, Capitalized on Consolidated Blance Sheets, Cash Payments	0	75,000
Property, Capitalized on Consolidated Blance Sheets, Share-based Payments	0	0
Property, Capitalized on Consolidated Balance Sheets, Impairment	(75,000)	0
Property, Capitalized on Consolidated Balance Sheets, Balance	$ 505,947	$ 580,947

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Mineral Properties and Exploration Costs: Schedule of Mineral Property Acquisition Costs capitalized on the Consolidated Statements of Operation (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Ures Property
Property, Capitalized on Consolidated Statement of Operations, Balance	$ 1,929,984	$ 1,910,649
Property, Capitalized on Consolidated Statement of Operations, Cash Payments	138,644	19,335
Property, Capitalized on Consolidated Statements of Operations, Share-based Payments	20,910	0
Property, Capitalized on Consolidated Statement of Operations, Balance	2,089,538	1,929,984
Santa Elena Mine
Property, Capitalized on Consolidated Statement of Operations, Balance	3,940,761	2,786,147
Property, Capitalized on Consolidated Statement of Operations, Cash Payments	483,149	285,299
Property, Capitalized on Consolidated Statements of Operations, Share-based Payments	244,500	869,315
Property, Capitalized on Consolidated Statement of Operations, Balance	4,668,410	3,940,761
Property, Capitalized on Consolidated Statement of Operations, Balance	5,870,745	4,696,796
Property, Capitalized on Consolidated Statement of Operations, Cash Payments	621,793	304,634
Property, Capitalized on Consolidated Statements of Operations, Share-based Payments	265,410	869,315
Property, Capitalized on Consolidated Statement of Operations, Balance	$ 6,757,948	$ 5,870,745

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Property and Equipment: Property, Plant and Equipment (Details)	12 Months Ended
	Mar. 31, 2018 USD ($)
Equipment
Property, Cost	$ 1,553,931
Property, Accumulated Depreciation	1,109,665
Property, Net Book Value, end of period	444,266
Property, Net Book Value, start of period	490,888
Vehicles
Property, Cost	159,085
Property, Accumulated Depreciation	133,031
Property, Net Book Value, end of period	26,054
Property, Net Book Value, start of period	14,695
Property, Cost	1,713,016
Property, Accumulated Depreciation	1,242,696
Property, Net Book Value, end of period	470,320
Property, Net Book Value, start of period	$ 505,583

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Property and Equipment (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Details
Depreciation and amortization	$ 255,776	$ 226,632

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Accounts Payable - Related Parties (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Details
Rent expense - related party	$ 45,600	$ 45,600
Rent outstanding - related party	$ 97,023	$ 65,203

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Notes Payable - Related Parties (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Taurus Gold, Inc.
Notes Payable	$ 0	$ 67,223
North Pacific Gold
Notes Payable	$ 20,078	$ 19,531

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Notes Payable (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Note principal and interest paid through issuance of shares	$ 95,000	$ 132,000
Note principal and interest paid in cash	0	26,500
Balance of Advances	83,600	43,600
Notes in default	53,300
Accrued Interest	6,236	6,236
Amortization of Debt Discount (Premium)	$ 89,567	$ 54,112
Notes Payable #1
Debt Instrument, Issuance Date	Jan. 19, 2016
Debt Instrument, Description	promissory note
Debt Instrument, Face Amount	$ 77,150
Debt Instrument, Interest Rate, Stated Percentage	10.00%

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Promissory Notes (Details)	12 Months Ended
	Mar. 31, 2018 USD ($)
Promissory Note #1
Debt Instrument, Issuance Date	Apr. 18, 2013
Debt Instrument, Description	Promissory Notes
Debt Instrument, Face Amount	$ 255,000
Debt Instrument, Interest Rate, Stated Percentage	4.00%
Promissory Note #2
Debt Instrument, Issuance Date	Aug. 24, 2015
Debt Instrument, Description	convertible promissory note
Debt Instrument, Face Amount	$ 343,973
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Notes Payable #3
Debt Instrument, Issuance Date	Dec. 01, 2015
Debt Instrument, Description	convertible promissory note
Debt Instrument, Face Amount	$ 41,189
Debt Instrument, Interest Rate, Stated Percentage	12.00%

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Convertible Promissory Note (Details) - Conertible Promissory Note #1	12 Months Ended
	Mar. 31, 2018 USD ($)
Debt Instrument, Issuance Date	Nov. 14, 2017
Debt Instrument, Description	Convertible Promissory Note
Debt Instrument, Face Amount	$ 166,667
Debt Instrument, Interest Rate, Stated Percentage	10.00%

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Convertible Promissory Note Derivative Liabilities (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Details
Fair Value Measurements, Valuation Techniques	Black-Scholes models
Initial value of embedded derivative liability	$ 66,205	$ 0
Convertible promissory note derivative liability	68,934	0
Loss on convertible promissory note derivative liability	$ 2,729	$ 0

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Convertible Promissory Note Derivative Liabilities: Schedule of Convertible Promissory Note Inputs into the Black Scholes Models (Details) - $ / shares	Mar. 31, 2016	Sep. 30, 2015
Details
Closing share price	$ 0.02467	$ 0.038
Conversion price	$ 0.0200	$ 0.0348
Risk free rate	0.05%	0.05%
Expected volatility	157.00%	109.00%
Dividend yield	0.00%	0.00%
Expected life	1 month 17 days	6 months

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Stockholders' Equity (Deficit): Preferred Stock (Details) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Details
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	9,000,000	9,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0

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Stockholders' Equity (Deficit): Series A Convertible Preferred Stock (Details) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	9,000,000	9,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series A Convertible
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	1,000,000	1,000,000

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Stockholders' Equity (Deficit): Common Stock (Details) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Details
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000
Common Stock, Shares, Issued	775,922,947	665,556,526
Common Stock, Shares, Outstanding	775,922,947	665,556,526

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Stockholders' Equity (Deficit) (Details) - shares			12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018
Subscriptions payable, shares	48,641,961	26,024,576
Transaction #1
Sale of Stock, Transaction Date			Apr. 11, 2017
Stock Issued During Period, Shares, New Issues			1,097,826
Transaction #2
Sale of Stock, Transaction Date			Apr. 17, 2017
Stock Issued During Period, Shares, New Issues			621,954
Transaction #3
Sale of Stock, Transaction Date			May 15, 2017
Stock Issued During Period, Shares, New Issues			108,696
Transaction #4
Sale of Stock, Transaction Date			Jun. 02, 2017
Stock Issued During Period, Shares, New Issues			4,593,333
Transaction #5
Sale of Stock, Transaction Date			Jul. 05, 2017
Stock Issued During Period, Shares, New Issues			600,000
Transaction #6
Sale of Stock, Transaction Date			Jul. 11, 2017
Stock Issued During Period, Shares, New Issues			2,949,253
Transaction #7
Sale of Stock, Transaction Date			Aug. 01, 2017
Stock Issued During Period, Shares, New Issues			3,693,333
Transaction #8
Sale of Stock, Transaction Date			Aug. 15, 2017
Stock Issued During Period, Shares, New Issues			11,436,667
Transaction #9
Sale of Stock, Transaction Date			Sep. 12, 2017
Stock Issued During Period, Shares, New Issues			4,500,000
Transaction #10
Sale of Stock, Transaction Date			Sep. 25, 2017
Stock Issued During Period, Shares, New Issues			3,500,000
Transaction #11
Sale of Stock, Transaction Date			Sep. 28, 2017
Stock Issued During Period, Shares, New Issues			2,275,000
Transaction #12
Sale of Stock, Transaction Date			Oct. 13, 2017
Stock Issued During Period, Shares, New Issues			3,814,232
Transaction #13
Sale of Stock, Transaction Date			Nov. 06, 2017
Stock Issued During Period, Shares, New Issues			5,430,030
Transaction #14
Sale of Stock, Transaction Date			Nov. 13, 2017
Stock Issued During Period, Shares, New Issues			6,591,666
Transaction #15
Sale of Stock, Transaction Date			Nov. 30, 2017
Stock Issued During Period, Shares, New Issues			3,591,940
Transaction #16
Sale of Stock, Transaction Date			Dec. 12, 2017
Stock Issued During Period, Shares, New Issues			2,283,333
Transaction #17
Sale of Stock, Transaction Date			Dec. 14, 2017
Stock Issued During Period, Shares, New Issues			3,600,000
Transaction #18
Sale of Stock, Transaction Date			Dec. 20, 2017
Stock Issued During Period, Shares, New Issues			8,050,000
Transaction #19
Sale of Stock, Transaction Date			Dec. 28, 2017
Stock Issued During Period, Shares, New Issues			6,250,000
Transaction #20
Sale of Stock, Transaction Date			Jan. 05, 2018
Stock Issued During Period, Shares, New Issues			7,666,666
Transaction #21
Sale of Stock, Transaction Date			Jan. 19, 2018
Stock Issued During Period, Shares, New Issues			583,332
Transaction #22
Sale of Stock, Transaction Date			Jan. 29, 2018
Stock Issued During Period, Shares, New Issues			3,187,000
Transaction #23
Sale of Stock, Transaction Date			Jan. 30, 2018
Stock Issued During Period, Shares, New Issues			527,779
Transaction #24
Sale of Stock, Transaction Date			Feb. 21, 2018
Stock Issued During Period, Shares, New Issues			11,324,223
Transaction #25
Sale of Stock, Transaction Date			Mar. 21, 2018
Stock Issued During Period, Shares, New Issues			12,090,158
Transaction #26
Sale of Stock, Transaction Date			May 19, 2016
Stock Issued During Period, Shares, New Issues			19,027,777
Transaction #27
Sale of Stock, Transaction Date			Apr. 21, 2016
Stock Issued During Period, Shares, New Issues			17,791,176
Transaction #28
Sale of Stock, Transaction Date			May 13, 2016
Stock Issued During Period, Shares, New Issues			17,141,176
Transaction #29
Sale of Stock, Transaction Date			Jul. 06, 2016
Stock Issued During Period, Shares, New Issues			1,830,600
Transaction #30
Sale of Stock, Transaction Date			Aug. 12, 2016
Stock Issued During Period, Shares, New Issues			8,150,000
Transaction #31
Sale of Stock, Transaction Date			Aug. 24, 2016
Stock Issued During Period, Shares, New Issues			14,633,333
Transaction #32
Sale of Stock, Transaction Date			Aug. 30, 2016
Stock Issued During Period, Shares, New Issues			6,025,000
Transaction #33
Sale of Stock, Transaction Date			Sep. 26, 2016
Stock Issued During Period, Shares, New Issues			8,710,000
Transaction #34
Sale of Stock, Transaction Date			Oct. 10, 2016
Stock Issued During Period, Shares, New Issues			21,283,782
Transaction #35
Sale of Stock, Transaction Date			Nov. 11, 2016
Stock Issued During Period, Shares, New Issues			2,916,667
Transaction #36
Sale of Stock, Transaction Date			Dec. 02, 2016
Stock Issued During Period, Shares, New Issues			14,055,555
Transaction #37
Sale of Stock, Transaction Date			Dec. 12, 2016
Stock Issued During Period, Shares, New Issues			33,918,729
Transaction #39
Sale of Stock, Transaction Date			Dec. 12, 2016
Sale of Stock, Description of Transaction			Company cancelled 2,248,100 shares of common stock previously issued
Transaction #40
Sale of Stock, Transaction Date			Dec. 29, 2016
Stock Issued During Period, Shares, New Issues			2,583,333
Transaction #41
Sale of Stock, Transaction Date			Feb. 06, 2017
Stock Issued During Period, Shares, New Issues			2,534,136
Transaction #42
Sale of Stock, Transaction Date			Feb. 24, 2017
Stock Issued During Period, Shares, New Issues			2,282,378
Transaction #43
Sale of Stock, Transaction Date			Feb. 28, 2017
Stock Issued During Period, Shares, New Issues			6,100,000
Transaction #44
Sale of Stock, Transaction Date			Mar. 14, 2017
Stock Issued During Period, Shares, New Issues			4,207,777
Transaction #45
Sale of Stock, Transaction Date			Mar. 21, 2017
Stock Issued During Period, Shares, New Issues			2,086,667
Transaction #46
Sale of Stock, Transaction Date			Mar. 28, 2017
Stock Issued During Period, Shares, New Issues			5,586,120
Transaction #47
Sale of Stock, Transaction Date			Jun. 26, 2017
Sale of Stock, Description of Transaction			Company issued subscriptions payable for 500,000 shares in common stock

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Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Deferred Tax Assets, Gross
Deferred Tax Assets, Operating Loss Carryforwards	$ 3,619,659	$ 5,465,982
Deferred Tax Assets, Gross	3,619,659	5,465,982
Deferred Tax Assets, Valuation Allowance	(3,619,659)	(5,465,982)
Deferred Tax Assets, Net of Valuation Allowance	$ 0	$ 0

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Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Details
Current Federal Tax Expense (Benefit)	$ 0	$ 0
Deferred Federal Income Tax Expense (Benefit)	3,619,659	5,465,982
Current State and Local Tax Expense (Benefit)	0	0
Deferred State and Local Income Tax Expense (Benefit)	0	0
Deferred Tax Assets, Valuation Allowance	(3,619,659)	(5,465,982)
Income Tax Expense (Benefit)	$ 0	$ 0

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Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Details
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(21.00%)	(35.00%)
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent	0.00%	0.00%

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Subsequent Events: Increase in the Number of Authorized Shares (Details) - Event 1	12 Months Ended
	Mar. 31, 2018
Subsequent Event, Date	Jun. 04, 2018
Subsequent Event, Description	Company’s board of directors and the majority shareholder approved an increase in the number of authorized shares of common stock of the Company

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Subsequent Events: Common Stock (Details)	12 Months Ended
	Mar. 31, 2018
Event 2
Subsequent Event, Date	Apr. 02, 2018
Subsequent Event, Description	the Company issued 5,300,000 shares of common stock
Event 3
Subsequent Event, Date	Apr. 16, 2018
Subsequent Event, Description	the Company issued 18,600,000 shares of common stock
Event 4
Subsequent Event, Date	May 02, 2018
Subsequent Event, Description	the Company issued 2,800,000 shares of common stock
Event 5
Subsequent Event, Date	May 24, 2018
Subsequent Event, Description	the Company issued 5,945,410 shares of common stock
Event 6
Subsequent Event, Date	May 30, 2018
Subsequent Event, Description	the Company issued 4,269,663 shares of common stock
Event 7
Subsequent Event, Date	Jun. 12, 2018
Subsequent Event, Description	the Company issued 350,000 shares of common stock

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Subsequent Events: Common Stock Payable (Details)	12 Months Ended
	Mar. 31, 2018
Event 8
Subsequent Event, Description	the Company issued subscriptions payable for 33,150,000 shares of common stock ($0.0051 per share)
Event 9
Subsequent Event, Description	the Company issued subscriptions payable for 4,750,000 shares of common stock ($0.0146 per share)
Event 9 | Minimum
Subsequent Event, Date	Apr. 01, 2018
Event 9 | Maximum
Subsequent Event, Date	Jul. 02, 2018
Event 10
Subsequent Event, Description	the Company issued subscriptions payable for 6,069,663 shares of common stock ($0.0165 per share)
Event 10 | Minimum
Subsequent Event, Date	Apr. 01, 2018
Event 10 | Maximum
Subsequent Event, Date	Jul. 02, 2018
Event 11
Subsequent Event, Description	the Company issued subscriptions payable for 7,429,654 shares of common stock ($0.0180 per share)
Event 11 | Minimum
Subsequent Event, Date	Apr. 01, 2018
Event 11 | Maximum
Subsequent Event, Date	Jul. 02, 2018
Event 12
Subsequent Event, Description	the Company issued subscriptions payable for 1,752,000 shares of common stock ($0.0162 per share)
Event 12 | Minimum
Subsequent Event, Date	Apr. 01, 2018
Event 12 | Maximum
Subsequent Event, Date	Jul. 02, 2018

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Subsequent Events: Promissory Notes (Details)	12 Months Ended
	Mar. 31, 2018
Event 13
Subsequent Event, Description	Company issued various Promissory Notes (“Notes”)
Event 13 | Minimum
Subsequent Event, Date	May 09, 2018
Event 13 | Maximum
Subsequent Event, Date	May 15, 2018
Event 14
Subsequent Event, Date	May 25, 2018
Subsequent Event, Description	Company issued 7,429,654 shares of common stock

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Subsequent Events: JMJ Financial (Details) - Event 15	12 Months Ended
	Mar. 31, 2018
Subsequent Event, Date	May 16, 2018
Subsequent Event, Description	Company paid JMJ Financial $183,333 in cash to fully settle the Convertible Promissory Note