SUBSEQUENT EVENTS

9 Months Ended

Apr. 30, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENTS [Text Block]

15. SUBSEQUENT EVENTS

On May 9, 2025, the Company closed financing and raised $3,000,000 through the issuance of 36,585,361 units at a price of US$0.082 per unit, with each unit comprising one share of common stock and one-half of one share purchase warrant. Each whole warrant entitles the holder to acquire one share of common stock at an exercise price of US$0.15 for a period of three years from the date of issuance.

On May 16, 2025, the Company entered into an agreement to sell its drilling equipment for a sale price of $200,000. $100,000 was received on June 6, 2025 and subsequent payments of $50,000 payable for each of the two drilling rigs sold are to be received when each rig drills its first hole to a depth of 200m, no later than four months after delivery.

On May 22, 2025, the Company granted a total of 3,320,000 stock options to directors, officers, and consultants of the Company. The stock options are exercisable at a price of US$0.10 per share until May 22, 2030. The vesting of certain stock options issued on May 1, 2024, September 19, 2024 and March 25, 2025 has been accelerated such that all 5,420,371 outstanding stock options of the Company are now fully vested.

On May 27, 2025, the Company closed the second sale agreement covering 50 acres of land for total sale price of $2,500,000.