Note 7 - Loans Payable

12 Months Ended

Jul. 31, 2026

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE 7 — LOANS PAYABLE

On April 16, 2017, the Company executed a promissory note for $15,000 with a third party. The note matured in two years and interest is set at $3,000 for the full two years. As of July 31, 2026, there is $15,000 and $12,375 of principal and accrued interest, respectively, due on this loan. As of July 31, 2025, there was $15,000 and $10,875 of principal and accrued interest, respectively, due on this loan. This loan is currently in default.

During the year ended July 31, 2020, a third party loaned the Company $60,000. The loan was unsecured, bears interest at 8% per annum and matured on September 1, 2021. On April 30, 2025, the Company and the third party entered into a debt settlement agreement, whereby the parties agreed to settle the outstanding principal and interest for $30,000 in cash and 1,137,900 shares of common stock at $0.05 per share.

As of July 31, 2026 and 2025, the Company owes a third party $23,500 and $23,500, respectively. The loan is unsecured, non-interest bearing and due on demand.

On June 1, 2023, the Company entered into a settlement and promissory note agreement with Golden Sands Exploration Inc. (“Golden Sands”) to settle an outstanding obligation of $285,453 arising from a default under a property option agreement. Under the settlement, Golden Sands agreed to reduce the obligation to $85,000, bearing interest at 6% per annum, with a maturity date of June 1, 2026.

On May 26, 2026, the Company and Golden Sands executed an amended agreement extending the repayment terms through June 1, 2027, and increasing the annual interest rate to 8%, effective June 1, 2026. Under the amended agreement, the Company agreed to pay $1,275 of previously accrued interest by June 1, 2026, followed by principal payments of $20,000 on each of August 15, 2026, December 1, 2026, and March 1, 2027, with the remaining $25,000 due June 1, 2027. Accrued interest is payable with each principal installment. The Company may prepay the obligation at any time without penalty. All other terms of the original agreement remain in effect.

As of July 31, 2026, there is $85,000 and $1,134 of principal and accrued interest, respectively, due on this loan. As of July 31, 2025, there is $85,000 and $850 of principal and accrued interest, respectively, due on this loan.