INCOME TAXES

12 Months Ended

Jul. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES [Text Block]

14. INCOME TAXES

A reconciliation of income taxes (recovery) at statutory rates with the reported taxes is as follows:

		2025			2024
Loss before income taxes	$	(3,260,358	)	$	(3,565,631	)
Expected income tax (recovery) at statutory tax rates	$	(913,000	)	$	(998,000	)
Change in statutory, foreign tax, foreign exchange rates and other		73,000			27,000
Permanent differences		196,000			76,000
Adjustment to prior years provision versus statutory tax returns and expiry of non-capital losses		(527,000	)		(350,000	)
Change in unrecognized deductible temporary difference		1,171,000			1,245,000
Income tax recovery	$	-		$	-

Significant components of deferred tax assets (liabilities) that have not been included on the Company's consolidated balance sheet are as follows:

		2025			2024
Deferred tax assets (liabilities):
Mineral property interests	$	1,074,000		$	477,000
Share issuance costs		19,000			-
Property and equipment		(27,000	)		(116,000	)
Non-capital losses available for future period		5,698,000			5,232,000
		6,764,000			5,593,000
Unrecognized deferred tax assets		(6,764,000	)		(5,593,000	)
Net deferred tax assets	$	-		$	-

The Company has approximately $20,360,000 (2024 - $18,696,000) in net operating losses which may be carried forward and applied against taxable income in future years.

The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows:

		2024		Expiry Date Range		2024		Expiry Date Range
Temporary Differences
Mineral property interests	$	3,834,000		No expiry date	$	1,706,000		No expiry date
Property and equipment		(97,000	)	No expiry date		(416,000	)	No expiry date
Share issuance costs		69,000		No expiry date		-		No expiry date
Non-capital losses available for future period		20,360,000		2027 to Indefinite		18,696,000		2027 to Indefinite
USA	$	24,166,000		2027 to Indefinite	$	19,986,000		2027 to Indefinite

Tax attributes are subject to review and potential adjustments by tax authorities.