Note 4 - Mining Interest

6 Months Ended

Oct. 31, 2025

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 –MINING INTEREST

The following is a summary of the Company’s equipment and mining interest on  October 31, 2025 and April 30, 2025.

	October 31, 2025		April 30, 2025
Mining interest - Longstreet		614,167		602,167
Total	$	614,167	$	602,167

Pursuant to the Longstreet Property Option Agreement with Great Basin Resources, Inc. (“Great Basin”), as amended, which was originally entered into by the Company on or about January 15, 2010 (the “Longstreet Agreement”), the Company leased, with an option to acquire, unpatented mining claims located in the State of Nevada known as the Longstreet Property. Through August 12, 2019, the Company was required to make minimal lease payments in the form of cash and options to purchase shares of the Company’s common stock.

On August 24, 2020, the Company executed an amendment which grants the Company the option, to be exercised no later than six (6) months following the first receipt of proceeds from the sale of ore from the Longstreet Property, to purchase one-half of Great Basin’s 3.0% Net Smelter Royalty on the Longstreet Project for a payment of $1,750,000.

In addition, the Company is obligated, pursuant to the Longstreet Agreement, as amended, to pay an annual advance royalty payment of $12,000 related to the Clifford claims. For the six months ended  October 31, 2025 and 2024, respectively, the Company paid the annual $12,000 advance royalty on the Longstreet Property.

At October 31, 2025 and April 30, 2025, the Company has a reclamation bond of $89,400 with the United States Department of Agriculture-Forest Service to increase the Reclamation Bond as collateral on the Longstreet Property. The bond is collateral on reclamation of planned drilling activities on the Longstreet Property and is refundable subject to the Company completing defined reclamation actions upon completion of drilling.