DERIVATIVE LIABILITY

12 Months Ended

Jul. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE LIABILITY [Text Block]

11. DERIVATIVE LIABILITY

The exercise price of certain of the Company's share purchase warrants is fixed in Canadian dollars and the functional currency of the Company is the U.S. dollar. These warrants are considered to be a derivative as a variable amount of cash in the Company's functional currency that 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 warrant derivative. Share purchase warrants with a compensatory nature are not included in this calculation.

The following table shows a continuity of the Company's fair value of warrant derivative:

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

During the year ended July 31, 2025, the Company recorded no gain or loss on the fair value adjustment of the derivative liability (July 31, 2024 - gain of $140,015). During the year ended July 31, 2025, the 2,291,322 warrants expired unexercised.

The following weighted average assumptions were used for the Black-Scholes pricing model valuation of warrants derivative as at July 31, 2024:

	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%