5. PROPERTY & EQUIPMENT

12 Months Ended

Mar. 31, 2023

Notes

5. PROPERTY & EQUIPMENT

5.  PROPERTY & EQUIPMENT

	Cost	Accumulated Depreciation	March 31, 2023 Net Book Value	March 31, 2022 Net Book Value
Mining tools and equipment	$807,812	$634,669	$173,143	$220,558
Vehicles	57,008	57,008	--	899
	$864,820	$691,677	$173,143	$221,457

Depreciation expense for year ended March 31, 2023 and 2022 was $67,126 and $70,368, respectively.

During the years ended March 31, 2023 and 2022, the Company received cash proceeds of $555,769 and $6,357 for the sale of equipment resulting in a gain on sale of equipment of $483,218 and $4,790, respectively.

During the years ended March 31, 2023 and 2022, the Company disposed of equipment for no proceeds, as scrap, with a carrying value of $69,936 and $0, respectively, resulting in loss on disposal of equipment of $69,936 and $0, respectively.