Capital Stock

6 Months Ended

Jan. 31, 2014

Capital Stock [Abstract]

CAPITAL STOCK

5.   CAPITAL STOCK

a)             Authorized Stock

The Company has authorized 75,000,000 common shares with $0.001 par value.  Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholder of the corporation is sought.

b)             Share Issuances

From inception of the Company (Dec 11, 2006), to January 31, 2014, there are 5,044,484* common stock issued and outstanding:

3,000,000* shares of common stock to the director at $.001/per share = $3,000

1,500,000* shares were issued to private shareholders at $.01/per share = $15,000

500,000* shares to private shareholders at $.02/ per share = $10,000

For a total of $28,000

On September 12, 2012 pursuant to the closing of a private placement, 16,807* shares of common stock at a purchase price of $11.90* per share for total proceeds of $200,000 was issued.

On September 27, 2012 10,000* share of common stock were issued as part of the compensatory terms of the mineral rights option agreement entered into by the Company.

On October 2, 2012 pursuant to the closing of a private placement, 9,677* shares of common stock at a purchase price of $15.50* per share for total proceeds of $150,000 was issued.

On April 2, 2013 pursuant to the closing of a private placement, 8,000* shares of common stock at a purchase price of $2.50* per share for total proceeds of $20,015 was issued.

On December 6, 2013, a private placement of common stock with warrant was issued for $20,000. The offering consists of units (“Units”) at $0.08 per Unit.  Each Unit will consist of one common share in the capital of the Issuer (each, a “Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”) subject to adjustment.  Each whole Warrant shall entitle the holder thereof to purchase one common share in the capital stock of the Issuer (each, a “Warrant Share”), as defined below.  The whole Warrants will be exercisable for 12 months following the Closing at $0.15 per share. The offering is still open and has been extended to December 31, 2013. As of January 31, 2014, the advance of $20,000 for the private placement has been received by the Company but the common stock had not been issued yet.

* The figures and amounts give retroactive effect of the 10:1 reverse stock split effective August 13, 2013.