Mineral Properties

12 Months Ended

Aug. 31, 2013

Notes

Mineral Properties

Note 7  Mineral Properties

With the sale of Axiom Mexico, effective May 31, 2012 we currently have no exploration expenditures.

On August 20, 2012, we entered into an option agreement to acquire 13 Fico claims located near Mt. Morrison in the Yukon Territory (the “Fico Claims”) for an aggregate amount of two hundred and fifty thousand Canadian Dollars ($250,000 CAD). In February 2013, we were given notice that the Fico claim option agreement would lapse as of February 28, 2013.  We decided not to renegotiate the option agreement and it expired. It is our intention to refocus our efforts on acquiring and developing oil and gas assets.

The Company incurred exploration expenses as follows in the year ended August 31, 2012:

	Aurora	Gavilan	Total
Drilling and sampling	$ 11,625	$ --	$ 11,625
Geological, geochemical, geophysics	99,009	--	99,009
Land costs, taxes, permits	50,649	722	51,371
Travel	19,514	--	19,514
Other	10,569	--	10,569
	$ 191,366	$ 722	$ 192,088