DERIVATIVE LIABILITY

9 Months Ended

Apr. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITY [Text Block]

10. DERIVATIVE LIABILITY

The exercise price of the Company's share purchase warrants is fixed in Canadian dollars and the functional currency of the Company is the USD. These warrants are considered to be a derivative as a variable amount of cash in the Company's functional currency will be received on exercise of the warrants. Accordingly, the share purchase warrants issued as part of past financings, are classified and accounted for as a derivative liability.

The following table shows a continuity of the Company's derivative liability:

		Warrant derivative		Number of warrants accounted for as derivative liability
Balance, July 31, 2023	$	140,015		4,991,645
Fair value adjustment		(140,015	)	-
Balance, July 31, 2024	$	-		2,291,322
Fair value adjustment		-		-
Balance, April 30, 2025	$	-		-

For the nine month period ended April 30, 2025, the Company recorded a total loss/gain on fair value of derivative liability of $Nil during the period (April 30, 2024 - gain of  $137,457). For the period ended April 30, 2025, the 2,291,322 warrants expired unexercised.

The following weighted average assumptions were used for the Black-Scholes pricing model valuation of warrants:

	July 31, 2024
Risk-free interest rate	3.46%
Expected life of warrants	0.05 years
Expected annualized volatility	33.73%
Dividend	Nil
Forfeiture rate	0%