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Note 9 - Subsequent Events
9 Months Ended
Apr. 30, 2023
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 9 SUBSEQUENT EVENTS

 

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that there are the following material subsequent events to disclose.

 

On June 1, 2023, the Company, and Golden Sands Exploration Inc, entered into a Settlement and Promissory Note Agreement for the outstanding amount due under the Winnemucca Option Agreement (Note 4). Per the terms of the agreement the amount owing is reduced to $85,000. The Company issued a Promissory Note (“Note”) to Golden Sands Exploration Inc, for $85,000, dated June 1, 2023. The note bears interest at 6% and matures on June 1, 2026. Interest is to be paid quarterly with the first payment due on or before September 1, 2023.