10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended   June 30, 2018

☐ Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period _____________to______________

Commission File Number: 333-150582

BLOX, INC.

(Exact name of registrant as specified in its charter)

Nevada	20-8530914
(State or other jurisdiction of	(I.R.S. Employer Identification No.)
incorporation of organization)

Suite 708, 1155 West Pender Street, Vancouver, BC  Canada	V6E 2P4
(Address of principal executive offices)	(ZIP Code)

Registrant’s telephone number, including area code: (604) 314-9293

(Former name, former address and former fiscal year, if changed since last report

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days

☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of ‘‘accelerated filer and large accelerated filer’’ in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Small reporting company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

☐Yes ☒ No

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 142,366,414 shares of common stock as of August 20, 2018.

Transitional Small Business Disclosure Format ☐Yes ☒ No

BLOX, INC.

Quarterly Report on Form 10-Q
For The Quarterly Period Ended
June 30, 2018

INDEX

PART I - FINANCIAL INFORMATION	3
Item 1. Financial Statements	3
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	16
Item 3. Quantitative and Qualitative Disclosures About Market Risk	22
Item 4. Controls and Procedures	22
PART II - OTHER INFORMATION	23
Item 1. Legal Proceedings	23
Item 1A. Risk Factors	23
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	23
Item 3. Defaults Upon Senior Securities	23
Item 4. Submission of Matters to a Vote of Securities Holders	23
Item 5. Other Information	23
Item 6. Exhibits	24
SIGNATURES	25

2

PART I

As used in this quarterly report on Form 10-Q, the terms “we”, “us” “our”, the “Company” or the “registrant” refer to Blox Inc., a Nevada corporation, and its wholly-owned subsidiaries.

Our financial statements are stated in United States Dollars (US$) unless otherwise stated and are prepared in accordance with United States Generally Accepted Accounting Principles.

In this quarterly report, unless otherwise specified, all references to “common shares” refer to the common shares in our capital stock.

Forward-Looking Statements

This quarterly report contains “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objections of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

Forward-looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. Except as required by applicable law, including the securities laws of the United States, we do not intend, and undertake no obligation, to update any forward-looking statement.

Although we believe the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The factors impacting these risks and uncertainties include, but are not limited to:

● our current lack of working capital;

● our ability to obtain any necessary financing on acceptable terms;

● timing and amount of funds needed for capital expenditures;

● timely receipt of regulatory approvals;

● our management team’s ability to implement our business plan;

● effects of government regulation;

● general economic and financial market conditions;

● our ability to complete the required feasibility study for permitting of the Mansounia concession in Guinea;

● our ability to develop our green mining business in Africa; and

● the fact that our accounting policies and methods are fundamental to how we report our financial condition and results of operations, and they may require our management to make estimates about matters that are inherently uncertain.

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

The following unaudited interim financial statements of Blox, Inc. are included in this quarterly report on Form 10-Q.

3

Blox, Inc.

Condensed Interim Consolidated Balance Sheets

(Unaudited – Expressed in U.S. Dollars)

				As At
	As At June 30, 2018			March 31, 2018 (audited)
ASSETS
Current Assets
Cash (Note 8)	$	4,625		$	28,481
Prepaid expenses		7,269			4,167
Total Current Assets		11,894			32,648
Long term investments (Note 4)		335,569			113,008
Equipment (Note 5)		71,560			71,560
Mineral Property Interest (Note 6)		931,722			931,722
Total Assets	$	1,350,745		$	1,148,938
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities	$	92,960		$	103,977
Due to shareholder (Note 11)		124,211			56,200
Total Liabilities		217,171			160,177
STOCKHOLDERS’S EQUITY
Common Stock (Note 7)
- 400,000,000 authorized
- 142,366,414 issued (March 31, 2018 – 108,611,814)		1,305			967
Additional Paid-in Capital		7,303,136			5,957,211
Share Subscriptions Received		-			1,469,516
Contributed Surplus		4,533,437			4,379,700
Accumulated Other Comprehensive Income		138,731			35,794
Deficit		(10,843,035	)		(10,854,427	)
Total Stockholders’ Equity		1,133,574			988,761
Total Liabilities and Stockholders’ Equity  $		1,350,745			1,148,938

See accompanying notes to the condensed interim consolidated financial statements.

4

Blox, Inc.

Condensed Interim Consolidated Statements of Comprehensive Income (Loss)

(Unaudited - Expressed in U.S. Dollars)

	Three Months Ended
	June 30, 2018			June 30, 2017
Operating Expenses
Consulting and professional fees (Note 11)	$	61,104		$	91,062
Depreciation		-			193
Exploration (Note 6)		3,844			19,584
Foreign exchange		1,237			21,654
Office and administration fees (Note 11)		9,392			10,490
Travel		8,852			2,311
Total Operating Expenses		(84,429	)		(145,294	)
Other Income
Unrealized gain on investment in warrants (Note 4)		95,774			-
Interest income		47			-
Net Income (Loss) for the Period	$	11,392			(145,294	)
Other Comprehensive Income
Unrealized gain on investment in common shares (Note 4)		102,937			-
Comprehensive Income (Loss) for the Period	$	114,329		$	(145,294	)
Net Earnings (Loss) Per Common Share	$	0.00		$	(0.00	)
Weighted Average Number of Shares Outstanding – Basic and diluted		132,842,785			108,611,814

See accompanying notes to the condensed interim consolidated financial statements.

5

Blox, Inc.

Consolidated Statements of Changes in Stockholders’ Equity

Years ended March 31, 2018 and 2017

(Expressed in U.S. Dollars)

													Accumulated
					Additional		Share						Other					Total
	Common Stock				Paid-in		Subscriptions			Contributed			Comprehensive					Stockholders’
	Shares		Amount		Capital		Received			Surplus			Income		Deficit			Equity
April 1, 2017		108,611,814	$	967	$	5,957,211	$	-		$	3,500,756		$	15,491	$	(9,364,652	)	$	109,773
Net loss for the period		-		-		-		-			-			-		(145,294	)		(145,294	)
June 30, 2017		108,611,814	$	967	$	5,957,211	$	-		$	3,500,756		$	15,491	$	(9,509,946	)	$	(35,521	)
April 1, 2018		108,611,814	$	967	$	5,957,211	$	1,469,516		$	4,379,700		$	35,794	$	(10,854,427	)	$	988,761
Private placement (Notes 7(a)&7(b))		30,000,000		300		752,700		(1,469,516	)		747,000			-		-			30,484
Stock options exercised (Note 7(c))		3,754,600		38		593,225		-			(593,263	)		-		-			-
Unrealized gain on investment in common shares (Note 4)		-		-		-		-			-			102,937		-			102,937
Net income for the period		-		-		-		-			-			-		11,392			11,392
June 30, 2018		142,366,414	$	1,305	$	7,303,136	$	-		$	4,533,437		$	138,731	$	(10,843,035	)	$	1,133,574

6

Blox, Inc.

Condensed Interim Consolidated Statements of Cash Flows

(Unaudited – Expressed in U.S. Dollars)

	Three Months Ended
	June 30, 2018			June 30, 2017
CASH PROVIDED BY (USED IN):
OPERATING ACTIVITIES
Net income (loss) for the period	$	11,392		$	(145,294	)
Non-cash items:
Depreciation		-			193
Unrealized gain on investment in warrants		(95,774	)		-
Changes in non-cash working capital:
Prepaid expenses		(3,103	)		3,882
Accounts payable and royalty payments payable		(11,016	)		19,494
Due to shareholder		68,011			-
		(30,490	)		(121,725	)
INVESTING ACTIVITIES
Purchase of long-term investments		(23,850	)		-
FINANCING ACTIVITIES
Proceeds from private placement		30,484			-
Proceeds from loans		-			113,811
		30,484			113,811
Decrease in Cash		(23,856	)		(7,914	)
Cash, Beginning of Period		28,481			14,085
Cash, End of Period	$	4,625		$	6,171
Non-Cash Transactions:
Cashless stock options exercised	$	593,263		$	-

See accompanying notes to the condensed interim consolidated financial statements.

7

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

1. Description of Business

Blox, Inc. (the “Company”) was incorporated on July 21, 2005 under the laws of the state of Nevada. The address of the Company is #708, 1155 West Pender Street, Vancouver, British Columbia, V6E 2P4, Canada.

The Company is primarily engaged in acquiring mineral assets in West Africa and applying green innovation to traditional mining methods and combining renewable energy and technology into the process.

2. Basis of Presentation

(a)          Statement of Compliance

These condensed interim consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) and are expressed in U.S. dollars. The Company’s fiscal year-end is March 31.

(b)          Basis of Presentation

The condensed interim consolidated financial statements of the Company comprise the Company and its subsidiaries. These condensed interim consolidated financial statements are prepared on the historical cost basis. These condensed interim consolidated interim financial statements have also been prepared using the accrual basis of accounting, except for cash flow information. In the opinion of management, all adjustments (including normal recurring ones), considered necessary for the fair statement of results have been included in these financial statements. All intercompany balances and transactions have been eliminated upon consolidation. The interim results are not necessarily indicative of results for the full year ending March 31, 2019, or future operating periods. For further information, see the Company’s annual consolidated financial statements for the year ended March 31, 2018, including the accounting policies and notes thereto.

(c)          Reporting and Functional Currencies

The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company is the Canadian dollar (“CAD”). The Company’s reporting currency is the US dollar.

Transactions:

Monetary assets and liabilities denominated in foreign currencies are translated into functional currencies of the Company and its subsidiaries using period end foreign currency exchange rates and expenses are translated using the exchange rate approximating those in effect on the date of the transactions during the reporting periods in which the expenses were transacted. Non-monetary assets and liabilities are translated at their historical foreign currency exchange rates. Gains and losses resulting from foreign exchange transactions are included in the determination of net income or loss for the period.

Translations:

Foreign currency financial statements are translated into the Company’s reporting currency, the US dollar as follows:

(i) All of the assets and liabilities are translated at the rate of exchange in effect on the balance sheet date;

(ii) Expenses are translated at the exchange rate approximating those in effect on the date of the transactions; and

(iii) Exchange gains and losses arising from translation are included in other comprehensive income.

8

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

2. Basis of Presentation (continued)

(d)          Significant Accounting Judgments and Estimates (continued)

The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the period. Actual outcomes could differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and may affect both the period of revision and future periods.

In applying the Company’s accounting policies, management has made certain judgments that may have a significant effect on the consolidated financial statements. Such judgments include the determination of the functional currencies and use of the going concern assumption.

(i)          Determination of Functional Currencies

In determining the Company’s functional currency, it periodically reviews its primary and secondary indicators to assess the primary economic environment in which the entity operates in determining the Company’s functional currencies. The Company analyzes the currency that mainly influences labor, material and other costs of providing goods or services which is often the currency in which such costs are denominated and settled. The Company also analyzes secondary indicators such as the currency in which funds from financing activities such as equity issuances are generated and the funding dependency of the parent company whose predominant transactional currency is the Canadian dollar. Determining the Company’s predominant economic environment requires significant judgment.

(ii)          Going Concern

These condensed interim consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a net income of $11,392 for the three months ended June 30, 2018 and has incurred cumulative losses since inception of $10,843,035 as at June 30, 2018.

These factors raise substantial doubt about the ability of the Company to continue as going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt and/or equity financing to continue operations. These condensed interim consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company has undertaken steps as part of a plan to sustain operations for the next fiscal year including plans to raise additional equity financing, controlling costs and reducing operating losses.

3. Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

9

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

4. Long Term Investments

			Fair Value as at
	Number		June 30, 2018		March 31, 2018
FVTPL
Share purchase warrants		3,333,333	$	118,907	$	48,375
		1,000,000		35,672		-
				154,579		48,375
Available-for-sale
Common shares		3,333,333		139,223		64,633
		1,000,000		41,767		-
				180,990		64,633
Total investment:			$	335,569	$	113,008

On April 16, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI), which shares the same management group and board of directors as the Company. The Company purchased 1,000,000 units at CAD$0.03 per unit for a total cost of $23,850 (CAD$30,000). Each unit consists of one common share and one transferable share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of CAD$0.05 for a period of 24 months from the closing of the private placement. On the date of issuance, the Company determined the fair value of the common share and warrants to be $13,420 and $10,430, respectively.

As at June 30, 2018, the fair value of common shares was $180,990 which resulted in an unrealized gain of $102,937 that was recorded in other comprehensive income. In addition, the fair value of warrants was $154,579, which resulted in an unrealized gain of $95,774 that was recorded in net income.

The June 30, 2018 fair value of the warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 1.92%, volatility of 200.6%, annual rate of dividend of 0%, and expected life of 2 years.

5. Equipment

	Machinery		Total
Cost
Balance at June 30 & March 31, 2018	$	232,620	$	232,620
Accumulated Depreciation
Balance at June 30 & March 31, 2018	$	161,060	$	161,060
Carrying amounts
As at June 30 & March 31, 2018	$	71,560	$	71,560

Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

10

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

6. Mineral Property Interest

The Company entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) among Joseph Boampong Memorial Institute Ltd. (“JBMIL”) and Equus Mining Ltd. (“EML”), Burey Gold Guinee sarl (“BGGs”) and Burey Gold Limited (“BGL”) and, collectively with EML and BGGs, (the “Vendors”), pursuant to which the Company agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Property”) from the Vendors. The Company exercised that right and acquired a 78% beneficial interest in the Property.

The Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Property is located approximately 80 kilometres west, by road, from the country’s third largest city, Kankan.

An exploration permit for the Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. As part of its due diligence, the Company obtained a legal opinion which confirmed that the license was in good standing at the time of acquisition. It is the Company’s intention to obtain an exploitation permit to allow the Company the right to mine and dispose of minerals for 15 years, with a possible 5-year extension. The Company has commenced work on the feasibility study required for obtaining this permit.

In consideration for the acquisition of the interest in the Property, the Company paid in cash $100,000 to BGL and $40,000 to EML and issued BGL and EML an aggregate of 6,514,350 shares of common stock of the Company (the “First Tranche Shares”), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the cash payment of $140,000, and $10,000 for an independent valuation of the Property. Additionally, $781,722 was capitalized to mineral property interests, being the fair value of the first tranche of shares. The fair value of the first tranche shares was based on the closing price of the Company’s shares on the OTCQB on July 24, 2014.

Within 14 days of commercial gold production being publicly declared from ore mined from the Property, the Company will issue BGL and EML a second tranche of shares of common stock of the Company (the “Second Tranche Shares”). The number of Second Tranche Shares to be issued shall be calculated by dividing $1,150,000 by the volume weighted average share price of the Company’s common stock over a 20-day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively.

The mining exploration license for the Company was renewed for twelve months on December 11, 2017, and the Company is now proceeding with the feasibility study phase.

	Mansounia Property, West Africa
Acquisition of mineral property interest
Cash payment	$	150,000
Issuance of 6,514,350 common shares		781,722
Balance, June 30 & March 31, 2018	$	931,722

During the three months ended June 30, 2018, the Company spent $3,844 (2018 – $19,584) on the property.

11

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

7. Common Stock

(a)          Private Placement

On September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. (“Waratah”), a controlling shareholder, whereby Waratah and the Company agreed that in order to allow the Company to finalize its acquisition of Quivira Gold Ltd. pursuant to the Share Purchase Agreement dated June 22, 2013 among the Company, Quivira Gold Ltd. and Waratah (the “Quivira Agreement”), the Bridge Loan Agreement dated as of April 17, 2015, and amended on April 28, 2016 and November 1, 2016 between the Company and Waratah would be cancelled and the Company will utilize the loan proceeds advanced to close a private placement of $1,500,000 required to consummate the Company’s acquisition of Quivira Gold Ltd.

On April 24, 2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at a price of $0.05 per unit for gross proceeds of $1,500,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at a price of $0.05 per share for a term of five years.

(b)        Warrants

On April 24, 2018, the Company issued 30,000,000 share purchase warrants as part of the $1,500,000 private placement. The warrants expire five years from the date of issuance and are exercisable at $0.05 per share. The fair value of these warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 2.73%, volatility of 204.3%, annual rate of dividend of 0%, and expected life of 5 years.

The following table summarizes historical information about the Company’s warrants:

	Number of Warrants		Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2018		88,000,000		0.05		0.70
Issued		30,000,000		0.05		4.80
Balance, June 30, 2018		118,000,000		0.05		1.74

As at June 30, 2018, the following warrants were outstanding and exercisable:

Number of Warrants		Exercise Price		Expiry Date
	88,000,000	$	0.05		February 27, 2019
	30,000,000	$	0.05		April 24, 2023

(c)        Stock Options

On June 26, 2018, 4,000,000 stock options were exercised via cashless exercise at a price of $0.01 per share, resulting in issuance of 3,754,600 common shares. The cash component, equivalent to $40,000, is calculated as 245,400 shares at $0.163, the closing market price of the Company on the date of issuance.

The following table summarizes historical information about the Company’s incentive stock options:

	Number of options			Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2018		7,650,000			0.12		3.20
Exercised		(4,000,000	)		0.01		2.10
Balance, June 30, 2018		3,650,000			0.25		4.00

12

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

7. Common Stock (continued)

(c)        Stock Options (continued)

At June 30, 2018, the following stock options were outstanding and exercisable:

Number of Options		Exercise Price		Weighted Average Remaining Life in Years		Expiry Date
	650,000	$	0.15		1.1		August 7, 2019
	3,000,000	$	0.27		4.6		February 15, 2023

8. Fair Value of Financial Instruments

The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which fair value is observable:

Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Level 2 and 3 financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values.

The following table sets forth the Company’s financial assets measured at fair value by level within the fair value hierarchy:

	Level 1		Level 2		Level 3		Total June 30, 2018
Cash	$	4,625	$	-	$	-	$	4,625
Long-term investment – Shares		180,990		-		-		180,990
Long-term investment – Warrants		-		-		154,579		154,579
Total	$	185,615	$	-	$	157,579	$	340,194

	Level 1		Level 2		Level 3		Total March 31, 2018
Cash	$	28,481	$	-	$	-	$	28,481
Long-term investment – Shares		64,633		-		-		64,633
Long-term investment – Warrants		-		-		48,375		48,375
Total	$	93,114	$	-	$	48,375	$	141,489

13

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

9. Due to Shareholder

During the three months ended June 30, 2018, the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $68,011. As at June 30, 2018, the Company was indebted to Waratah for $124,211 (March 31, 2018 - $56,200). The advances from shareholder are unsecured, non-interest bearing and have no fixed repayment terms.

10. Commitments

On June 22, 2013, the Company entered into a share purchase agreement with Waratah Capital Ltd. (“Waratah”) where the Company agreed to purchase all of Waratah’s right, title, and interest in the Quivira Gold (“Quivira”) shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, the Company will issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah Investments, owns and operates gold and diamond mining properties in Ghana.

The closing of the agreement is subject to the completion of due diligence and the completion of a private placement for $1,500,000 (Note 7(a)). As of the issuance date of these financial statements, the due diligence has not yet been completed.

11. Related Party Transactions

The Company’s related parties include its subsidiaries, key management personnel, controlling shareholders, and strategic partner. Transactions with related parties for goods and services are based on the exchange amount as agreed to by the related parties.

The Company incurred the following expenses with related parties during the three months ended June 30, 2018 and 2017:

	Three Months Ended June 30,
	2018		2017
Compensation – Directors	$	22,924	$	29,715
Compensation – Former Director		-		27,484
Compensation – Officer		7,744		4,640
Compensation – Former Officer		12,262		11,688
	$	42,930	$	73,527

During the three months ended June 30, 2018, $2,179 (2017 - $2,097) were paid for bookkeeping services to a company owned by a former officer of the Company.

As at June 30, 2018, the Company was indebted to its related parties for the amounts as below:

	June 30, 2018		March 31, 2018
Accounts payable and accrued liabilities	$	73,689	$	57,014
Due to shareholder (Note 9)		124,211		56,200

As at June 30, 2018, $73,689 (March 31, 2018 - $57,014) remains unpaid to directors and officers for consulting and professional fees. These amounts owing is unsecured, non-interest bearing and have no fixed repayment terms.

14

Blox, Inc.

Notes to Condensed Interim Consolidated Financial Statements

Three Months Ended June 30, 2018 and 2017

(Unaudited – Expressed in U.S. Dollars)

12. Geographical Area Information

	Canada		Africa		Total
June 30, 2018:
Current assets	$	11,894	$	-	$	11,894
Long term investments		335,569		-		335,569
Equipment		-		71,560		71,560
Mineral property interest		-		931,722		931,722
Total assets	$	347,463	$	1,003,282	$	1,350,745
Total liabilities	$	217,171	$	-	$	217,171
March 31, 2018:
Current assets	$	32,648	$	-	$	32,648
Long term investments		113,008		-		113,008
Equipment		-		71,560		71,560
Mineral property interest		-		931,722		931,722
Total assets	$	145,656	$	1,003,282	$	1,148,938
Total liabilities	$	160,177	$	-	$	160,177

15

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this quarterly report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include those discussed below and elsewhere in this quarterly report on Form 10-Q.

Overview

We were incorporated in the State of Nevada on July 21, 2005, under the name “Nava Resources, Inc.” for the purpose of conducting mineral exploration activities. We were authorized to issue 400,000,000 shares of common stock, having a par value of $0.001 per share. On January 4, 2007, we obtained written consent from our shareholders to amend our Articles of Incorporation to change the par value of our common stock from $0.001 to $0.00001 per share, which change was effected on February 28, 2007. Effective July 30, 2013, we changed our name from “Nava Resources, Inc.” to “Blox, Inc.”.

Properties

On August 6, 2014, we announced that we entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) with Joseph Boampong Memorial Institute Ltd. (“JBMIL”) and Equus Mining Ltd. (“EML”), Burey Gold Guinee sarl (“BGGs”) and Burey Gold Limited (“BGL”) and, collectively with EML and BGGs, (the “Vendors”), pursuant to which we agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Mansounia Property”) from the Vendors, which right was exercised.

The Mansounia Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Mansounia Property is located approximately 80 kilometres west, by road, from the country’s third largest city, Kankan.

An exploration permit for the Mansounia Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. On October 25, 2016, an exploration permit extension was granted for a period of 12-months. The purpose of the extension was to provide time to complete the required feasibility study and environmental impact assessment that will be submitted to Ministre des Mines et de la Géologie and the La Ministre de l’Environnement, des Eaux et Forêts. Work has commenced on the feasibility study and a consultant has been engaged to commence the environmental impact assessment. It is our intention to obtain an exploitation permit, which would give us the exclusive right to mine and dispose of minerals for 15 years, with a possible five-year extension. In February 2017, our directors and management teams from Vancouver and Guinea met in Accra, Ghana, to further the process of advancing a project viability study for the Mansounia Property. The environmental impact assessment of the concession is in progress. Once completed, the results of these two studies will be presented to the Guinea Ministry of Mines and Geology and the Environmental Protection Agency in Guinea, with a view to advancing towards an exploitation license.

In consideration for the acquisition of the interest in the Mansounia Property, we paid approximately $100,000 to BGL and $40,000 to EML and on July 31, 2014, issued BGL and EML an aggregate of 6,514,350 shares of common stock of our company (the “First Tranche Shares”), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, we recorded the cash payment of $150,000 plus $781,722 as the fair value of the First Tranche Shares in mineral interest. The fair value of the First Tranche Shares was based on the closing price of our shares on the OTCQB on July 24, 2014.

Within 14 days of commercial gold production being publicly declared from ore mined from the Mansounia Property, we will issue BGL and EML a second tranche of shares of our common stock (the “Second Tranche Shares”). The number of Second Tranche Shares to be issued shall be calculated by dividing $1,150,000 by the volume weighted average share price of our common stock over a 20-day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively.

In July 2017, we announced the completion of field activities associated with a detailed Environmental and Social Impact Assessment (ESIA), which concludes a significant stage toward obtaining a Mining License for the Mansounia Gold Project in Guinea.

16

The ESIA document is used to communicate and discuss details of the project to all stakeholders, including government departments, environmental and other regulators, local communities as well as current and prospective shareholders. Apart from assessing the project’s environmental impact, the document also covers risk mitigation and potential benefits to local residents. The ESIA is the beginning of an ongoing process of involvement on all social and environmental fronts.

We engaged the internationally credentialed SAMEC (Security Africa Mining and Environmental Consulting) based in Conakry, to undertake the field-associated aspects of the ESIA program, which included - but was not limited to - addressing the following aspects:

● Physical environment.

● Biological environment.

● Characterization of flora and fauna.

● Characterization of aquatic species.

● Characterization of habitat critical for ecological processes.

● Inventories:

o Botanical inventory.

o Inventory of mammals.

o Inventory of birds.

o Herpetological inventory.

o Inventory of ants.

● Ecological study of freshwater.

● Fish sampling.

● Freshwater macroinvertebrates.

● Social and Environmental Aspects:

● Issues of the project.

● Consultation of stakeholders.

● Identification and analysis of the impacts of the project.

● Proposal of mitigation of environmental impacts.

● Management of risks and accidents.

● Development of an environmental and social management plan (ESMP).

Based on the highly encouraging results obtained from historical soils geochemical programs and in-line with recent desktop and field studies undertaken by Spiers Geological Consultants (SGC 2016), a number of key target areas were identified for follow-up field activities. Our understanding of the deposit and surrounding areas continues to grow with each field season, and, to date, robust geological and structural context for the area/s have been developed using modelling software. The model is based on, and continually refined, using the pre-existing regional geochemical soil and rock chip sampling and drill-hole data from the Mansounia Property area. Further funding is required to explore these new target areas, which is now a priority for management.

We retained the consulting group, Scott-Taylor Ltd., to undertake a thorough site visit as part of the process of further examining the economic potential of the Mansounia Property. Scott-Taylor Ltd. undertook a field visit to the Mansounia Property to focus on areas where significant outcrops exist, in addition to the verification of collar locations for selected previously drilled RC and Diamond holes.

The deep weathering and extensive lateritic cover has resulted in limited outcrop of Birimian lithologies within the project area. Reconnaissance mapping located outcrops of weathered brecciated granitoid, volcano sedimentary and metasedimentary lithologies. A number of outcrops with extensive quartz veining were identified, particularly within the brecciated granitoid and were sampled.

17

Previous structural analysis has identified a number of target areas for further exploration. The rock chip samples reported in this new release are located with target area 5, as shown below.

Mansounia Project: Current target areas.

 

In total, 15 samples were collected for assays during the field visit. Four samples returned gold grades from 0.49g/t to 3.04g/t are shown below.

Sample ID	Eastings		Northing		RL		Au (ppm) 1		Au (ppm) 2
Man002		415153		1141509		424		1.03		0.92
Man003		415155		1141509		424		3.08		3.00
Man007		415172		1141545		441		0.49		0.48
Man012		415103		1141596		419		1.04		1.02

The most encouraging aspect of the assay results from the outcrop samples is the fact that these samples are located approximately five kilometers south of the Mansounia resource area and indicate that gold mineralization occurs to the south of the currently identified Mansounia deposit. These outcrop sampling assays are very encouraging and warrant further exploration to unlock the full potential of the Mansounia license area.

A program to commence auger drilling and regolith mapping proximal to the currently drilled Mansounia resource, including the area where the rock chip samples were collected, was in the process of being carried out at the time this report was being compiled. No results are available at this time. In the event of positive results from the auger drilling program, it is anticipated that RC and Aircore drilling will then be carried out to follow up any identified geochemical anomalies identified by the auger drilling program.

18

On July 6, 2018, the Company announced that a new drilling target has been defined by a 2.5km long Gold in Soil anomaly, at the Mansounia Gold Project (see Exhibit).

Pramkese, Osenase and Asamankese, Ghana, West Africa

On June 22, 2013, we entered into a share purchase agreement with Waratah Investments Limited (“Waratah”) whereby we agreed purchase all of Waratah’s right, title, and interest in the Quivira Gold (“Quivira”) shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, we agreed to issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah, owns and operates gold and diamond mining properties in Ghana.

The closing of the agreement is subject to the completion of a private placement financing of up to $1,500,000, consisting of units priced at $0.05 per unit, with each unit to be comprised of one common share and one share purchase warrant, exercisable at $0.05 for five years. Closing the Agreement is also conditional upon receiving legal opinions of Ghana counsel confirming various matters relating to the laws of Ghana, including corporate and title opinions; the Company receiving legal opinions of Australian counsel confirming various matters relating to the laws of Australia, including corporate and title opinions; completion of certain ongoing transactions by Quivira relating to the transfer of title to certain assets and to an assignment of debt; and preparation of U.S. GAAP consolidated financial statements for Quivira.

Our directors conducted their first visit to Ghana in August 2015, when they visited the Birim Region where the three Ghanaian concessions are located. The objective was to carry out a geological reconnaissance over the areas to identify potentially favourable lithologies.  The directors inspected the existing field programs in Ghana and oversaw the planning and implementation of programs for the near future.

Going Concern

Our financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. We have not yet established an ongoing source of revenues sufficient to cover our operating costs and to allow us to continue as a going concern. We have incurred a net income of $11,392 for the three months ended June 30, 2018, and have incurred cumulative losses since inception of $10,843,035. These factors raise substantial doubt about the ability of the Company to continue as going concern. Our ability to continue as a going concern is dependent on our ability to continue obtaining adequate capital to fund operating losses until we become profitable. If we are unable to obtain adequate capital, we could be forced to significantly curtail or cease operations.

We will need to raise additional funds to finance continuing operations. However, there are no assurances that we will be successful in raising additional funds. Without sufficient additional financing, it would be unlikely for us to continue as a going concern. Our ability to continue as a going concern is dependent upon our ability to successfully accomplish the plans described in this quarterly report and eventually secure other sources of financing and attain profitable operations.

Results of Operations

Three Months Ended June 30, 2018 and 2017

The following summary of our results of operations should be read in conjunction with our unaudited consolidated interim financial statements for the three months ended June 30, 2018 and 2017, which are included herein.

19

Expenses

The expenses were as follows:

	Three Months Ended June 30
	2018 $			2017 $
Consulting and professional fees		61,104			91,062
Depreciation		-			193
Exploration expenses (Note 5)		3,844			19,584
Foreign exchange		1,237			21,654
Office and administration (Note 11)		9,392			10,490
Travel expenses		8,852			2,311
Operating Expenses		(84,429	)		(145,294	)
Unrealized gain on investment in warrants		95,774			-
Interest income		47			-
Net income (loss)		11,392			(145,294	)

We incurred a net income of $11,392 for the three months ended June 30, 2018 (“Q1 2019”), compared to net loss of $145,294, in the same period in June 30, 2017 (“Q1 2018”). Overall, the operating cost in Q1 2019 is much lower than Q1 2018. In Q1 2019, an unrealized gain of $95,774 incurred is primarily due to holding the investment in ASI’s warrants. The following is a breakdown of the operating expenses during Q1 2019, compared to Q1 2018: consulting and professional fees decreased from $91,062 in Q1 2018 to $61,104 in Q1 2019; office and administration expenses decreased slight from $10,490 in Q1 2018 to $9,392 in Q1 2019; foreign exchange decreased from $21,654 from Q1 2018 to $1,237 in Q1 2019; travel costs were increased from $2,311 in Q1 2018 to $8,852 in Q1 2019; and the explorations costs decreased from $19,584 for Q1 2018 to $3,844 in Q1 2019 due to slight decreased activity on the Mansounia Property.

Management anticipates operating expenses will materially increase in future periods as we focus on green mineral development and incur increased costs as a result of being a public company with a class of securities registered under the Securities Exchange Act of 1934.

Liquidity and Capital Resources

Working Capital

Continuing Operations	June 30, 2018			March 31, 2018
Current Assets	$	11,894		$	32,648
Current Liabilities		217,171			160,177
Working Capital Deficit	$	(205,277	)	$	(127,529	)

Current Assets

The nominal decrease in current assets as of June 30, 2018 compared to March 31, 2018 was primarily due to a decrease in cash from $28,481 to $4,625.

Current Liabilities

Current liabilities as at June 30, 2018 increased by $56,994 since March 31, 2018, primarily due to additional expenses being incurred during the current quarter.

20

Cash Flow

Our cash flow was as follows:

	Three months Ended June 30
	2018 $			2017 $
Net cash used in operating activities		(30,490	)		(121,725	)
Net cash used in investing activities		(23,850	)		-
Net cash provided by financing activities		30,484			113,811
Increase (decrease) in cash and cash equivalents		(23,856	)		(7,914	)

Operating activities

The decrease in net cash used in operating activities for the three months ended June 30, 2018, compared to the same period in 2017 was primarily as a result of decreased operating activities on the Mansounia property in the current quarter.

Investing activities

The increase in investing activities for the three months ended June 30, 2018 as the Company participated in Ashanti Sankofa Inc (TSX.V-ASI)’s private placement in April.

Financing activities

There is a decrease net cash provided by financing activities for the three months ended June 30, 2018, compared to the same period in 2017.

Critical Accounting Policies

There have been no significant changes to the critical accounting policies as described in our Annual Form 10-K for the year ended March 31, 2018.

Cash Requirements

Our current cash position is not sufficient to meet our present and near-term cash needs.  We will require additional cash resources, including the sale of equity or debt securities, to meet our planned capital expenditures and working capital requirements.  For the next 12 months we estimate that our capital needs will be $250,000 to $500,000 and we currently have approximately $4,600 in cash. We will seek to sell additional equity or debt securities or obtain additional credit facilities. The sale of additional equity securities will result in dilution to our stockholders. The incurrence of indebtedness will result in increased debt service obligations and could require us to agree to operating and financial covenants that could restrict our operations or modify our plans to grow the business. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, will limit our ability to expand our business operations and could harm our overall business prospects.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to our stockholders.

Contractual Obligations

Not applicable.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. We conducted an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this Evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our Disclosure Controls were effective as of the end of the period covered by this report.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal controls that occurred during the quarter covered by this report that have materially affected, or are reasonably likely to materially affect our internal controls.

22

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We are not a party to any pending legal proceeding. Management is not aware of any threatened litigation, claims or assessments.

Item 1A. Risk Factors

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. (“Waratah”), a controlling shareholder, whereby Waratah and the Company agreed that in order to allow the Company to finalize its acquisition of Quivira Gold Ltd. pursuant to the Share Purchase Agreement dated June 22, 2013 among the Company, Quivira Gold Ltd. and Waratah (the “Quivira Agreement”), the Bridge Loan Agreement dated as of April 17, 2015, and amended on April 28, 2016 and November 1, 2016 between the Company and Waratah would be cancelled and the Company will utilize the loan proceeds advanced to close a private placement of $1,500,000 required to consummate the Company’s acquisition of Quivira Gold Ltd.

On April 24, 2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at a price of $0.05 per unit for gross proceeds of $1,500,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at a price of $0.05 per share for a term of five years.

The above securities were issued to non-US persons (as that term is defined in Regulation S of the Securities Act of 1933), in offshore transactions relying on Regulation S of the Securities Act of 1933, as amended.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosure

Not applicable.

Item 5. Other Information

On June 26, 21018, Donna Moroney resigned as the Corporate Secretary of the Company.

On July 13, 2018, Trevor Pickett was appointed as the Chief Executive Officer of the Company on a permanent basis from his current interim position.

23

Item 6. Exhibits

Number	Exhibit Description
31.1	Certification of the Chief Executive Officer pursuant to Rule 13a-14 Or 15d-14 of the Securities Exchange Act Of 1934,as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of the Chief Financial Officer pursuant to Rule 13a-14 Or 15d-14 of the Securities Exchange Act Of 1934,as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of the Chief Executive Officer pursuant to 18 U.S.C.  Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of the Chief Financial Officer pursuant to 18 U.S.C.  Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
99.1	News Release Dated July 6, 2018
101 **	Interactive data files formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Operations, (iii) the Consolidated Statements of Cash Flows, and (iv) the Notes to the Consolidated Financial Statements.
	101.INS	XBRL Instance Document
	101.SCH	XBRL Taxonomy Extension Schema Document
	101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
	101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
	101.LAB	XBRL Taxonomy Extension Label Linkbase Document
	101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

24

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BLOX INC.

By:	/s/ Trevor Pickett
Name:	Trevor Pickett
Title:	Chief Executive Officer
Date:	August 20, 2018

25

EX-31.1

Exhibit 31.1

CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER PURSUANT TO RULE 13A-14 OR 15D-14 OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 

I, Trevor Pickett, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Blox, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entitles, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By: /s/ Trevor Pickett

Name:  Trevor Pickett

Title: Chief Executive Officer

Date:   August 20, 2018

EX-31.2

Exhibit 31.2

CERTIFICATION OF THE CHIEF FINANCIAL OFFICER PURSUANT TO RULE 13A-14 OR 15D-14 OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Nancy Zhao, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Blox, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entitles, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

By: /s/ Nancy Zhao

Name: Nancy Zhao

Title: Chief Financial Officer

Date:   August 20, 2018

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Blox, Inc. (the “Company”) on Form 10-Q for the period ended December 31, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Trevor Pickett, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002 that:

1. this report fully complies with the requirements of Sections 13(a) or 15(d) of the 1934 Act, and

2. the information contained in this report fairly presents, in all material respects, the registrant’s financial condition and results of operations of the registrant.

By: /s/ Trevor Pickett

Name:  Trevor Pickett

Title: Chief Executive Officer

Date:   August 20, 2018

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Blox Inc. (the “Company”) on Form 10-Q for the period ended December 31, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Nancy Zhao, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002 that:

1. this report fully complies with the requirements of Sections 13(a) or 15(d) of the 1934 Act, and

2. the information contained in this report fairly presents, in all material respects, the registrant’s financial condition and results of operations of the registrant.

By: /s/ Nancy Zhao

Name: Nancy Zhao

Title: Chief Financial Officer

Date:   August 20, 2018

EX-99.1

Exhibit 99.1

Blox, Inc. Announces New Drilling Target Defined at

Mansounia Gold Project.

Vancouver, British Columbia, July 6, 2018 – Blox, Inc. (OTCQB: BLXX), (“Blox” or the “Company”) is pleased to announce that a new drilling target has been defined by a 2.5km long Gold in Soil anomaly, at its Mansounia Gold Project, located in the highly prospective Siguiri Basin region of Eastern Guinea.

New Drilling Target.

The new drilling target has been defined after an extensive database compilation and exploration targeting exercise undertaken by Sahara Natural Resources on the historical data held by Blox in the region. Sahara is the largest exploration services group in West Africa with 200 geoscientists operating between Burkina Faso, Ghana, Cote D’Ivoire, Mali, Senegal, Mauritania and Guinea.

Sahara have defined a Gold in Soil geochemical anomaly over approximately a 2.5km strike. The anomaly is open and untested to the North and South. This area has never been drilled and represents an exciting target approximately 5km south of the main resource of Mansounia. The Mansounia Gold Project resource is located approximately 4km south of the Kiniero mine, which has a CIL plant currently in care and maintenance. The Kiniero mine produced 288K ounces of gold in its first six-years of operation. The Mansounia Gold Project hosts similar geology and mineralisation to the Kiniero property. Early indications show that Mansounia also demonstrates similar mineralogy to both Siguiri and Lefa, which lie further to the north. AngloGold Ashanti operates the mine at Siguiri and processes 30,000 tonnes per day with a resource of 6.4Moz. Nordgold operate the mine at Lefa, which produced 208koz of gold in 2017, with resources in excess of 4.3Moz.

Figure 1: The Mansounia Gold Project lies within Guinea’s highly prospective Siguiri Basin.

 

 

Blox has commenced follow-up work in the new target area and, with the assistance of Sahara Natural Resources, has designed a thorough auger drilling plan in conjunction with regolith mapping to aid in the delineation of potential mineralization 5km south-east of the current existing resource. Field activities will also include trenching and pitting across the area of anomalous soil and outcrop samples. Some extensional drilling to the south west of the existing resource will also be conducted. As Blox is currently moving towards a mining license at the Mansounia Gold Project, the auger drilling will also be used to sterilise a portion of the concession for feasibility work.

Reverse Circulation and Diamond Drilling will be carried out in the coming months if positive results are returned from the current auger drilling and trenching program. Figure 2 illustrates the Mansounia Gold in Soil anomaly, showing the location of Gold in Soil anomalies and planned Auger Geochemical drilling that is currently underway.

Figure 2: Mansounia Gold Project – planned auger drilling program, historical drill collars and previously sampled mineralized outcrops. The Niandan river is shown to the right.

 

 

Medium Term Targets.

 Blox is targeting 3-million ounces at Mansounia in the medium term. The auger drilling and trenching program will explore as yet untested areas of the property, starting with the newly identified 2.5km strike to the south east. In addition, some extensional auger drilling will be done to the south west of the existing resource to determine whether the main Mansounia resource continues further along the line of its orientation or not. If successful, this drilling will pave the way for subsequent Reverse Circulation and Diamond Drilling to further explore the hard rock potential under the existing 1.29Moz Au resource which has already been identified as open at depth. By potentially extending both the depth and width of the current resource as well as possibly identifying new anomalies on the property and acquiring proximal properties, Blox aims to build its Mansounia Gold Project into a multi-million-ounce, world-class resource.

Figure 3: The Mansounia deposit is open along strike to the north and south and up dip and down dip to the west and east.

 

 

Figure 4: Significantly, fresh rock mineralisation has been intersected and as of this time remains undeveloped. Primary hard rock mineralised veins open at depth with very little drilling to date.

I am very pleased to have such an experienced and enthusiastic team working on our Mansounia Gold Project. The addition of Sahara Natural Resources to that team has brought a great deal of local knowledge to the table as they have drilled over 3-million meters in West Africa and worked on most major gold discoveries and mine operations across West Africa. We have set the bar high as to our expectations from the project but with a systematic and staged approach to both our short-term exploration targets and our long-term goals, I am confident that Blox can expand its resources in Guinea.

On behalf of the Board of Directors,

Trevor Pickett.

Interim Chief Executive Officer

For further information, please contact: tpickett@bloxinc.com

Cautionary Note Regarding Forward-Looking Information

Forward Looking Statement Disclaimer. This press release may present “forward-looking statements” within the meaning of applicable securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to continuing the economic re-assessment of our assets in Guinea and Ghana, the discovery of additional resources on those concessions, specific resource goals or targets or potentially moving into production in the medium to long term. Generally, these forward-looking statements can be identified by the use of forward looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Blox, Inc. or the combined company to be materially different from those expressed or implied by such forward looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Blox, Inc. believe that the expectations reflected in such forward- looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Blox Inc. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

 

 

Qualified Person’s Statement

The information in this report that relates to the Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Daniel Amoakoh, who is a member of the American Institute of Professional Geologists and the Society for Mining, Metallurgy and Exploration. Daniel Amoakoh has more than 5-years’ experience relevant to the style of mineralization and type of deposits under consideration and to the activity being undertaken to qualify as a Qualified Person as defined by the NI43-101 instrument. Daniel Amoakoh is a full-time consulting geologist of Blox, Inc. Mr. Amoakoh holds stocks in Blox, Inc. and consents to the inclusion of information in this report, based in the form and context in which it appears. Aspects pertaining to historical Mineral Resource Estimates on Northern Mansounia were prepared and first disclosed under the JORC Code 2004 by Runge Consultants 2009. Runge also prepared Mineral Resource Estimates for Southern Mansounia in 2012. Except where noted, it has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

 

XML

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2018	Aug. 20, 2018
Document And Entity Information
Entity Registrant Name	Blox, Inc.
Entity Central Index Key	0001428389
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Trading symbol	blxx
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		142,366,414
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

XML

Condensed Interim Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Current Assets
Cash (Note 8)	$ 4,625	$ 28,481
Prepaid expenses	7,269	4,167
Total Current Assets	11,894	32,648
Long term investments (Note 4)	335,569	113,008
Equipment (Note 5)	71,560	71,560
Mineral Property Interest (Note 6)	931,722	931,722
Total Assets	1,350,745	1,148,938
Current Liabilities
Accounts payable and accrued liabilities	92,960	103,977
Due to shareholder (Note 11)	124,211	56,200
Total Liabilities	217,171	160,177
STOCKHOLDERS' EQUITY
Common Stock - 400,000,000 authorized - 142,366,414 issued (March 31, 2017 - 108,611,814)	1,305	967
Additional paid-in capital	7,303,136	5,957,211
Share subscriptions received		1,469,516
Contributed Surplus	4,533,437	4,379,700
Accumulated Other Comprehensive Income	138,731	35,794
Deficit	(10,843,035)	(10,854,427)
Total Stockholders' Equity	1,133,574	988,761
Total Liabilities and Stockholders' Equity $	$ 1,350,745	$ 1,148,938

XML

Condensed Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - shares	Jun. 30, 2018	Mar. 31, 2018
Statement of Financial Position [Abstract]
Common Stock, shares authorized	400,000,000	400,000,000
Common Stock, shares issued	142,366,414	108,611,814
Common Stock, shares outstanding	142,366,414	108,611,814

XML

Condensed Interim Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Expenses
Consulting and professional fees (Note 11)	$ 61,104	$ 91,062
Depreciation		193
Exploration (Note 6)	3,844	19,584
Foreign exchange	1,237	21,654
Office and administration fees (Note 11)	9,392	10,490
Travel	8,852	2,311
Total Operating Expenses	(84,429)	(145,294)
Other Income
Unrealized gain on investment in warrants (Note 4)	95,774
Interest income	47
Net Income (Loss) for the Period	11,392	(145,294)
Other Comprehensive Income
Unrealized gain on investment in common shares (Note 4)	102,937
Comprehensive Income (Loss) for the Period	$ 114,329	$ (145,294)
Net Earnings (Loss) Per Common Share (in dollars per share)	$ 0.00	$ 0.00
Weighted Average Number of Shares Outstanding - Basic and diluted (in shares)	132,842,785	108,611,814

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Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Share Subscriptions Received	Contributed Surplus	Accumulated Other Comprehensive Income	Deficit	Total
Beginning Balance at Mar. 31, 2017	$ 967	$ 5,957,211		$ 3,500,756	$ 15,491	$ (9,364,652)	$ 109,773
Begging Balance (in shares) at Mar. 31, 2017	108,611,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds Private placement
Net Loss						(145,294)	(145,294)
Ending Balance at Jun. 30, 2017	$ 967	5,957,211		3,500,756	15,491	(9,509,946)	(35,521)
Ending Balance (in shares) at Jun. 30, 2017	108,611,814
Beginning Balance at Mar. 31, 2018	$ 967	5,957,211	1,469,516	4,379,700	35,794	(10,854,427)	988,761
Begging Balance (in shares) at Mar. 31, 2018	108,611,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Proceeds Private placement	$ 300	752,700	(1,469,516)	747,000			30,484
Private placement (in shares)	30,000,000
Stock options exercised	$ 38	593,225		(593,263)
Stock options exercised (in shares)	3,754,600
Unrealized gain on investment in common shares					102,937		102,937
Net Loss						11,392	11,392
Ending Balance at Jun. 30, 2018	$ 1,305	$ 7,303,136		$ 4,533,437	$ 138,731	$ (10,843,035)	$ 1,133,574
Ending Balance (in shares) at Jun. 30, 2018	142,366,414

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Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
OPERATING ACTIVITIES
Net income (loss) for the period	$ 11,392	$ (145,294)
Non-cash items:
Depreciation		193
Unrealized gain on investment in warrants	(95,774)
Changes in non-cash working capital:
Prepaid expenses	(3,103)	3,882
Accounts payable and royalty payments payable	(11,016)	19,494
Due to shareholder	68,011
Cash used in operating activities	(30,490)	(121,725)
INVESTING ACTIVITIES
Purchase of long-term investments	(23,850)
FINANCING ACTIVITIES
Proceeds from private placement advanced	30,484
Proceeds from loans		113,811
Cash used in financing activities	30,484	113,811
Decrease in Cash	(23,856)	(7,914)
Cash, Beginning of Period	28,481	14,085
Cash, End of Period	4,625	6,171
Non-Cash Transactions:
Cashless stock options exercised	$ 593,263

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Description of Business

3 Months Ended

Jun. 30, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

1. Description of Business

Blox, Inc. (the “Company”) was incorporated on July 21, 2005 under the laws of the state of Nevada. The address of the Company is #708, 1155 West Pender Street, Vancouver, British Columbia, V6E 2P4, Canada.

The Company is primarily engaged in acquiring mineral assets in West Africa and applying green innovation to traditional mining methods and combining renewable energy and technology into the process.

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Basis of Presentation

3 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Basis of Presentation

2. Basis of Presentation

(a)          Statement of Compliance

These condensed interim consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States (“US GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) and are expressed in U.S. dollars. The Company’s fiscal year-end is March 31.

(b)          Basis of Presentation

The condensed interim consolidated financial statements of the Company comprise the Company and its subsidiaries. These condensed interim consolidated financial statements are prepared on the historical cost basis. These condensed interim consolidated interim financial statements have also been prepared using the accrual basis of accounting, except for cash flow information. In the opinion of management, all adjustments (including normal recurring ones), considered necessary for the fair statement of results have been included in these financial statements. All intercompany balances and transactions have been eliminated upon consolidation. The interim results are not necessarily indicative of results for the full year ending March 31, 2019, or future operating periods. For further information, see the Company’s annual consolidated financial statements for the year ended March 31, 2018, including the accounting policies and notes thereto.

(c)          Reporting and Functional Currencies

The functional currency of an entity is the currency of the primary economic environment in which the entity operates. The functional currency of the Company is the Canadian dollar (“CAD”). The Company’s reporting currency is the US dollar.

Transactions:

Monetary assets and liabilities denominated in foreign currencies are translated into functional currencies of the Company and its subsidiaries using period end foreign currency exchange rates and expenses are translated using the exchange rate approximating those in effect on the date of the transactions during the reporting periods in which the expenses were transacted. Non-monetary assets and liabilities are translated at their historical foreign currency exchange rates. Gains and losses resulting from foreign exchange transactions are included in the determination of net income or loss for the period.

Translations:

Foreign currency financial statements are translated into the Company’s reporting currency, the US dollar as follows:

(i) All of the assets and liabilities are translated at the rate of exchange in effect on the balance sheet date;

(ii) Expenses are translated at the exchange rate approximating those in effect on the date of the transactions; and

(iii) Exchange gains and losses arising from translation are included in other comprehensive income.

(d)          Significant Accounting Judgments and Estimates (continued)

The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of expenses during the period. Actual outcomes could differ from these estimates. Revisions to accounting estimates are recognized in the period in which the estimate is revised and may affect both the period of revision and future periods.

In applying the Company’s accounting policies, management has made certain judgments that may have a significant effect on the consolidated financial statements. Such judgments include the determination of the functional currencies and use of the going concern assumption.

(i)          Determination of Functional Currencies

In determining the Company’s functional currency, it periodically reviews its primary and secondary indicators to assess the primary economic environment in which the entity operates in determining the Company’s functional currencies. The Company analyzes the currency that mainly influences labor, material and other costs of providing goods or services which is often the currency in which such costs are denominated and settled. The Company also analyzes secondary indicators such as the currency in which funds from financing activities such as equity issuances are generated and the funding dependency of the parent company whose predominant transactional currency is the Canadian dollar. Determining the Company’s predominant economic environment requires significant judgment.

(ii)          Going Concern

These condensed interim consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has incurred a net income of $11,392 for the three months ended June 30, 2018 and has incurred cumulative losses since inception of $10,843,035 as at June 30, 2018.

These factors raise substantial doubt about the ability of the Company to continue as going concern. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary debt and/or equity financing to continue operations. These condensed interim consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Management of the Company has undertaken steps as part of a plan to sustain operations for the next fiscal year including plans to raise additional equity financing, controlling costs and reducing operating losses.

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Recent Accounting Pronouncements

3 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Recent Accounting Pronouncements

3. Recent Accounting Pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

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Long Term Investment

3 Months Ended

Jun. 30, 2018

Long Term Investment

Long Term Investment

4. Long Term Investments

			Fair Value as at
	Number		June 30, 2018		March 31, 2018
FVTPL
Share purchase warrants		3,333,333	$	118,907	$	48,375
		1,000,000		35,672		-
				154,579		48,375
Available-for-sale
Common shares		3,333,333		139,223		64,633
		1,000,000		41,767		-
				180,990		64,633
Total investment:			$	335,569	$	113,008

On April 16, 2018, the Company participated in a private placement offering by its strategic partner, Ashanti Sankofa Inc (TSX.V- ASI), which shares the same management group and board of directors as the Company. The Company purchased 1,000,000 units at CAD$0.03 per unit for a total cost of $23,850 (CAD$30,000). Each unit consists of one common share and one transferable share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of CAD$0.05 for a period of 24 months from the closing of the private placement. On the date of issuance, the Company determined the fair value of the common share and warrants to be $13,420 and $10,430, respectively.

As at June 30, 2018, the fair value of common shares was $180,990 which resulted in an unrealized gain of $102,937 that was recorded in other comprehensive income. In addition, the fair value of warrants was $154,579, which resulted in an unrealized gain of $95,774 that was recorded in net income.

The June 30, 2018 fair value of the warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 1.92%, volatility of 200.6%, annual rate of dividend of 0%, and expected life of 2 years.

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Equipment

3 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Equipment

5. Equipment

	Machinery		Total
Cost
Balance at June 30 & March 31, 2018	$	232,620	$	232,620
Accumulated Depreciation
Balance at June 30 & March 31, 2018	$	161,060	$	161,060
Carrying amounts
As at June 30 & March 31, 2018	$	71,560	$	71,560

Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

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Mineral Property Interest

3 Months Ended

Jun. 30, 2018

Mineral Property Interest

Mineral Property Interest

6. Mineral Property Interest

The Company entered into a Deed of Assignment and Assumption Agreement dated July 24, 2014 (the “Assumption Agreement”) among Joseph Boampong Memorial Institute Ltd. (“JBMIL”) and Equus Mining Ltd. (“EML”), Burey Gold Guinee sarl (“BGGs”) and Burey Gold Limited (“BGL”) and, collectively with EML and BGGs, (the “Vendors”), pursuant to which the Company agreed to assume JBMIL’s right to acquire a 78% beneficial interest in the Mansounia Concession (the “Property”) from the Vendors. The Company exercised that right and acquired a 78% beneficial interest in the Property.

The Property lies in the southwest margin of the Siguiri Basin, in the Kouroussa Prefecture, Kankan Region, in Guinea, West Africa and covers a surface area of 145 square kilometres. The Property is located approximately 80 kilometres west, by road, from the country’s third largest city, Kankan.

An exploration permit for the Property was granted by the Ministère des Mines et de la Géologie on August 20, 2013. As part of its due diligence, the Company obtained a legal opinion which confirmed that the license was in good standing at the time of acquisition. It is the Company’s intention to obtain an exploitation permit to allow the Company the right to mine and dispose of minerals for 15 years, with a possible 5-year extension. The Company has commenced work on the feasibility study required for obtaining this permit.

In consideration for the acquisition of the interest in the Property, the Company paid in cash $100,000 to BGL and $40,000 to EML and issued BGL and EML an aggregate of 6,514,350 shares of common stock of the Company (the “First Tranche Shares”), at a deemed price of $0.1765 per share, for an aggregate deemed value of $1,150,000. The First Tranche Shares were issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively. For accounting purposes, the Company recorded the cash payment of $140,000, and $10,000 for an independent valuation of the Property. Additionally, $781,722 was capitalized to mineral property interests, being the fair value of the first tranche of shares. The fair value of the first tranche shares was based on the closing price of the Company’s shares on the OTCQB on July 24, 2014.

Within 14 days of commercial gold production being publicly declared from ore mined from the Property, the Company will issue BGL and EML a second tranche of shares of common stock of the Company (the “Second Tranche Shares”). The number of Second Tranche Shares to be issued shall be calculated by dividing $1,150,000 by the volume weighted average share price of the Company’s common stock over a 20-day period preceding the issuance date. The Second Tranche Shares shall be issued to BGL and EML in the proportions of 71.43% and 28.57%, respectively.

The mining exploration license for the Company was renewed for twelve months on December 11, 2017, and the Company is now proceeding with the feasibility study phase.

	Mansounia Property, West Africa
Acquisition of mineral property interest
Cash payment	$	150,000
Issuance of 6,514,350 common shares		781,722
Balance, June 30 & March 31, 2018	$	931,722

During the three months ended June 30, 2018, the Company spent $3,844 (2018 – $19,584) on the property.

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Common Stock

3 Months Ended

Jun. 30, 2018

Equity [Abstract]

Common Stock

7. Common Stock

(a)          Private Placement

On September 29, 2017, the Company entered into an agreement with Waratah Capital Ltd. (“Waratah”), a controlling shareholder, whereby Waratah and the Company agreed that in order to allow the Company to finalize its acquisition of Quivira Gold Ltd. pursuant to the Share Purchase Agreement dated June 22, 2013 among the Company, Quivira Gold Ltd. and Waratah (the “Quivira Agreement”), the Bridge Loan Agreement dated as of April 17, 2015, and amended on April 28, 2016 and November 1, 2016 between the Company and Waratah would be cancelled and the Company will utilize the loan proceeds advanced to close a private placement of $1,500,000 required to consummate the Company’s acquisition of Quivira Gold Ltd.

On April 24, 2018, the Company closed the private placement as part of the Quivira acquisition and issued 30,000,000 units at a price of $0.05 per unit for gross proceeds of $1,500,000. Each unit consists of one common share and one transferable share purchase warrant exercisable at a price of $0.05 per share for a term of five years.

(b)        Warrants

On April 24, 2018, the Company issued 30,000,000 share purchase warrants as part of the $1,500,000 private placement. The warrants expire five years from the date of issuance and are exercisable at $0.05 per share. The fair value of these warrants was determined with the Black-Scholes option pricing model using the following assumptions: risk free interest rate of 2.73%, volatility of 204.3%, annual rate of dividend of 0%, and expected life of 5 years.

The following table summarizes historical information about the Company’s warrants:

	Number of Warrants		Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2018		88,000,000		0.05		0.70
Issued		30,000,000		0.05		4.80
Balance, June 30, 2018		118,000,000		0.05		1.74

As at June 30, 2018, the following warrants were outstanding and exercisable:

Number of Warrants		Exercise Price		Expiry Date
	88,000,000	$	0.05		February 27, 2019
	30,000,000	$	0.05		April 24, 2023

(c)        Stock Options

On June 26, 2018, 4,000,000 stock options were exercised via cashless exercise at a price of $0.01 per share, resulting in issuance of 3,754,600 common shares. The cash component, equivalent to $40,000, is calculated as 245,400 shares at $0.163, the closing market price of the Company on the date of issuance.

The following table summarizes historical information about the Company’s incentive stock options:

	Number of options			Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2018		7,650,000			0.12		3.20
Exercised		(4,000,000	)		0.01		2.10
Balance, June 30, 2018		3,650,000			0.25		4.00

At June 30, 2018, the following stock options were outstanding and exercisable:

Number of Options		Exercise Price		Weighted Average Remaining Life in Years		Expiry Date
	650,000	$	0.15		1.1		August 7, 2019
	3,000,000	$	0.27		4.6		February 15, 2023

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Fair Value of Financial Instruments

3 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

8. Fair Value of Financial Instruments

The following provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which fair value is observable:

Level 1 – fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2 – fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

Level 3 – fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).

Level 2 and 3 financial instruments are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment to estimation. Valuations based on unobservable inputs are highly subjective and require significant judgments. Changes in such judgments could have a material impact on fair value estimates. In addition, since estimates are as of a specific point in time, they are susceptible to material near-term changes. Changes in economic conditions may also dramatically affect the estimated fair values.

The following table sets forth the Company’s financial assets measured at fair value by level within the fair value hierarchy:

	Level 1		Level 2		Level 3		Total June 30, 2018
Cash	$	4,625	$	-	$	-	$	4,625
Long-term investment – Shares		180,990		-		-		180,990
Long-term investment – Warrants		-		-		154,579		154,579
Total	$	185,615	$	-	$	157,579	$	340,194

	Level 1		Level 2		Level 3		Total March 31, 2018
Cash	$	28,481	$	-	$	-	$	28,481
Long-term investment – Shares		64,633		-		-		64,633
Long-term investment – Warrants		-		-		48,375		48,375
Total	$	93,114	$	-	$	48,375	$	141,489

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Due to Shareholder

3 Months Ended

Jun. 30, 2018

Due To Shareholder

Due to Shareholder

9. Due to Shareholder

During the three months ended June 30, 2018, the Company received advances from Waratah Capital Ltd. (“Waratah”), a controlling shareholder of the Company, in the amount of $68,011. As at June 30, 2018, the Company was indebted to Waratah for $124,211 (March 31, 2018 - $56,200). The advances from shareholder are unsecured, non-interest bearing and have no fixed repayment terms.

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Commitments

3 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments

10. Commitments

On June 22, 2013, the Company entered into a share purchase agreement with Waratah Capital Ltd. (“Waratah”) where the Company agreed to purchase all of Waratah’s right, title, and interest in the Quivira Gold (“Quivira”) shares, of which Waratah holds 100% of the outstanding shares. As consideration for the Quivira shares, the Company will issue to Waratah 60,000,000 shares of common stock and 60,000,000 warrants. Each warrant entitles the holder to purchase one additional common share at $0.05 for a period of five years from the closing date. Quivira, a subsidiary of Waratah Investments, owns and operates gold and diamond mining properties in Ghana.

The closing of the agreement is subject to the completion of due diligence and the completion of a private placement for $1,500,000 (Note 7(a)). As of the issuance date of these financial statements, the due diligence has not yet been completed.

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Related Party Transactions

3 Months Ended

Jun. 30, 2018

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

The Company’s related parties include its subsidiaries, key management personnel, controlling shareholders, and strategic partner. Transactions with related parties for goods and services are based on the exchange amount as agreed to by the related parties.

The Company incurred the following expenses with related parties during the three months ended June 30, 2018 and 2017:

	Three Months Ended June 30,
	2018		2017
Compensation – Directors	$	22,924	$	29,715
Compensation – Former Director		-		27,484
Compensation – Officer		7,744		4,640
Compensation – Former Officer		12,262		11,688
	$	42,930	$	73,527

During the three months ended June 30, 2018, $2,179 (2017 - $2,097) were paid for bookkeeping services to a company owned by a former officer of the Company.

As at June 30, 2018, the Company was indebted to its related parties for the amounts as below:

	June 30, 2018		March 31, 2018
Accounts payable and accrued liabilities	$	73,689	$	57,014
Due to shareholder (Note 9)		124,211		56,200

As at June 30, 2018, $73,689 (March 31, 2018 - $57,014) remains unpaid to directors and officers for consulting and professional fees. These amounts owing is unsecured, non-interest bearing and have no fixed repayment terms.

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Geographical Area Information

3 Months Ended

Jun. 30, 2018

Segments, Geographical Areas [Abstract]

Geographical Area Information

12. Geographical Area Information

	Canada		Africa		Total
June 30, 2018:
Current assets	$	11,894	$	-	$	11,894
Long term investments		335,569		-		335,569
Equipment		-		71,560		71,560
Mineral property interest		-		931,722		931,722
Total assets	$	347,463	$	1,003,282	$	1,350,745
Total liabilities	$	217,171	$	-	$	217,171
March 31, 2018:
Current assets	$	32,648	$	-	$	32,648
Long term investments		113,008		-		113,008
Equipment		-		71,560		71,560
Mineral property interest		-		931,722		931,722
Total assets	$	145,656	$	1,003,282	$	1,148,938
Total liabilities	$	160,177	$	-	$	160,177

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Long Term Investment (Tables)

3 Months Ended

Jun. 30, 2018

Long Term Investment

Long Term Investments

			Fair Value as at
	Number		June 30, 2018		March 31, 2018
FVTPL
Share purchase warrants		3,333,333	$	118,907	$	48,375
		1,000,000		35,672		-
				154,579		48,375
Available-for-sale
Common shares		3,333,333		139,223		64,633
		1,000,000		41,767		-
				180,990		64,633
Total investment:			$	335,569	$	113,008

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Equipment (Tables)

3 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

	Machinery		Total
Cost
Balance at June 30 & March 31, 2018	$	232,620	$	232,620
Accumulated Depreciation
Balance at June 30 & March 31, 2018	$	161,060	$	161,060
Carrying amounts
As at June 30 & March 31, 2018	$	71,560	$	71,560

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Mineral Property Interest (Tables)

3 Months Ended

Jun. 30, 2018

Mineral Property Interest

Schedule of Acquisition Mineral Property Interest

	Mansounia Property, West Africa
Acquisition of mineral property interest
Cash payment	$	150,000
Issuance of 6,514,350 common shares		781,722
Balance, June 30 & March 31, 2018	$	931,722

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Common Stock (Tables)

3 Months Ended

Jun. 30, 2018

Equity [Abstract]

Schedule of warrants

	Number of Warrants		Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2018		88,000,000		0.05		0.70
Issued		30,000,000		0.05		4.80
Balance, June 30, 2018		118,000,000		0.05		1.74

Schedule of warrants outstanding and exercisable

Number of Warrants		Exercise Price		Expiry Date
	88,000,000	$	0.05		February 27, 2019
	30,000,000	$	0.05		April 24, 2023

Schedule of Share-based Compensation, Stock Options, Activity

	Number of options			Weighted Average Exercise Price ($)		Weighted Average Life Remaining (Years)
Balance, March 31, 2018		7,650,000			0.12		3.20
Exercised		(4,000,000	)		0.01		2.10
Balance, June 30, 2018		3,650,000			0.25		4.00

Schedule of Stock Options Outstanding And Exercisable

Number of Options		Exercise Price		Weighted Average Remaining Life in Years		Expiry Date
	650,000	$	0.15		1.1		August 7, 2019
	3,000,000	$	0.27		4.6		February 15, 2023

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Fair Value of Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair value of Assets

	Level 1		Level 2		Level 3		Total June 30, 2018
Cash	$	4,625	$	-	$	-	$	4,625
Long-term investment – Shares		180,990		-		-		180,990
Long-term investment – Warrants		-		-		154,579		154,579
Total	$	185,615	$	-	$	157,579	$	340,194

	Level 1		Level 2		Level 3		Total March 31, 2018
Cash	$	28,481	$	-	$	-	$	28,481
Long-term investment – Shares		64,633		-		-		64,633
Long-term investment – Warrants		-		-		48,375		48,375
Total	$	93,114	$	-	$	48,375	$	141,489

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Related Party Transactions (Tables)

3 Months Ended

Jun. 30, 2018

Related Party Transactions [Abstract]

Schedule of Expenses with Related Parties

	Three Months Ended June 30,
	2018		2017
Compensation – Directors	$	22,924	$	29,715
Compensation – Former Director		-		27,484
Compensation – Officer		7,744		4,640
Compensation – Former Officer		12,262		11,688
	$	42,930	$	73,527

Schedule of indebted to related parties

	June 30, 2018		March 31, 2018
Accounts payable and accrued liabilities	$	73,689	$	57,014
Due to shareholder (Note 9)		124,211		56,200

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Geographical Area Information (Tables)

3 Months Ended

Jun. 30, 2018

Segments, Geographical Areas [Abstract]

Geographical Area Information

	Canada		Africa		Total
June 30, 2018:
Current assets	$	11,894	$	-	$	11,894
Long term investments		335,569		-		335,569
Equipment		-		71,560		71,560
Mineral property interest		-		931,722		931,722
Total assets	$	347,463	$	1,003,282	$	1,350,745
Total liabilities	$	217,171	$	-	$	217,171
March 31, 2018:
Current assets	$	32,648	$	-	$	32,648
Long term investments		113,008		-		113,008
Equipment		-		71,560		71,560
Mineral property interest		-		931,722		931,722
Total assets	$	145,656	$	1,003,282	$	1,148,938
Total liabilities	$	160,177	$	-	$	160,177

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Basis of Presentation (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Basis Of Presentation Details Narrative
Net Income	$ 11,392	$ (145,294)
Cumulative Losses	$ (10,843,035)		$ (10,854,427)

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Long Term Investment (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
FVTPL
Proceeds from share purchase warrants	$ 154,579	$ 48,375
Available-for-sale
Proceeds from common shares	180,990	64,633
Total investment	$ 335,569	113,008
Warrant [Member]
FVTPL
Share purchase warrants	3,333,333
Proceeds from share purchase warrants	$ 118,907	48,375
Available-for-sale
Common shares	3,333,333
Warrant one [Member]
FVTPL
Share purchase warrants	1,000,000
Proceeds from share purchase warrants	$ 35,672
Available-for-sale
Common shares	1,000,000
Common Stock [Member]
Available-for-sale
Proceeds from common shares	$ 139,223	64,633
Common Stock One [Member]
Available-for-sale
Proceeds from common shares	$ 41,767

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Long Term Investment (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended
	Apr. 28, 2018	Apr. 16, 2018	Jun. 30, 2018	Jun. 30, 2017
Proceeds from Issuance of Private Placement			$ 30,484
Unrealized gain on common stock			$ 102,937
Warrant [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000
Valuation method	Black-Scholes option pricing model		Black-Scholes option pricing model
Risk free interest rate	2.73%		1.92%
Volatility	204.30%		200.60%
Annual rate of dividend	0.00%		0.00%
Expected life (in years)	5 years		2 years
Ashanti Sankofa [Member] | Private Placement [Member]
Issuance of common stock		1,000,000
Proceeds from Issuance of Private Placement		$ 23,850
Fair value of common stock		13,420	$ 180,990
Fair value of warrants		$ 10,430	154,579
Unrealized gain on common stock			102,937
Unrealized gain on warrant			$ 95,774

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Equipment (Details) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Property, Plant and Equipment, Gross	$ 232,620	$ 232,620
Accumulated Depreciation	161,060	161,060
Carrying amounts	71,560	71,560
Machinery [Member]
Property, Plant and Equipment, Gross	232,620	232,620
Accumulated Depreciation	161,060	161,060
Carrying amounts	$ 71,560	$ 71,560

XML

Equipment (Details Narrative)	3 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Equipment description	Machinery in the amount of $71,560 has not been placed into production and is not currently being depreciated.

XML

Mineral Property Interest (Details) - USD ($)	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Acquisition of mineral property interest
Cash payment	$ 150,000
Issuance of common shares	781,722
Mineral Property Interest	$ 931,722	$ 931,722

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Mineral Property Interest (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 24, 2016	Jun. 30, 2018	Mar. 31, 2018
Cash Paid		$ 150,000
Mineral Property expenses		$ 3,844	$ 19,584
BGL [Member]
Cash Paid	$ 100,000
BGL [Member] | First Tranche Shares [Member]
Shares Issued, percentage	71.43%
BGL [Member] | Second Tranche Shares [Member]
Shares Issued, percentage	71.43%
EML [Member]
Cash Paid	$ 40,000
EML [Member] | First Tranche Shares [Member]
Shares Issued, percentage	28.57%
EML [Member] | Second Tranche Shares [Member]
Shares Issued, percentage	28.57%
BGL and EML [Member] | First Tranche Shares [Member]
Shares Issued	6,514,350
Shares Issued, per share	$ 0.1765
Shares Issued, value	$ 1,150,000
Mineral Property Interest	781,722
BGL and EML [Member] | Second Tranche Shares [Member]
Shares Issued, value	$ 1,150,000

XML

Common Stock (Details)	3 Months Ended
	Jun. 30, 2018 $ / shares shares
Number of Warrants
Warrants beginning | shares	88,000,000
Issued | shares	30,000,000
Warrants ending | shares	118,000,000
Weighted Average Exercise Price
Warrants beginning | $ / shares	$ 0.05
Issued | $ / shares	0.05
Warrants ending | $ / shares	$ 0.05
Weighted Average Life Remaining (Years)
Warrants beginning	8 months 12 days
Issued	4 years 9 months 18 days
Warrants ending	1 year 8 months 26 days

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Common Stock (Details 1) - $ / shares	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Warrants beginning	118,000,000	88,000,000
27-Feb-19 [Member]
Warrants beginning	88,000,000
Warrants Exercisable	88,000,000
Warrants Exercise Price	$ 0.05
Warrants Expiry Date	Feb. 27, 2019
24-Apr-23 [Member]
Warrants beginning	30,000,000
Warrants Exercisable	30,000,000
Warrants Exercise Price	$ 0.05
Warrants Expiry Date	Apr. 24, 2023

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Common Stock (Details 2) - Stock Option [Member] - $ / shares	1 Months Ended	3 Months Ended
	Apr. 26, 2018	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding beginning	7,650,000	7,650,000
Exercised	(4,000,000)	(4,000,000)
Outstanding ending		3,650,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding beginning	$ 0.12	$ 0.12
Exercised		0.01
Outstanding ending		$ 0.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term [Roll Forward]
Outstanding beginning		3 years 2 months 12 days
Exercised		2 years 1 month 6 days
Outstanding ending		4 years

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Common Stock (Details 3)	3 Months Ended
	Jun. 30, 2018 $ / shares shares
07-Aug-19 [Member]
Options Outstanding	650,000
Options Exercisable	650,000
Weighted Average Remaining in Years	1 year 1 month 6 days
Exercise Price | $ / shares	$ 0.15
Expiry Date	Aug. 07, 2019
15-Feb-23 [Member]
Options Outstanding	3,000,000
Options Exercisable	3,000,000
Weighted Average Remaining in Years	4 years 7 months 6 days
Exercise Price | $ / shares	$ 0.27
Expiry Date	Feb. 15, 2023

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Common Stock (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended
	Apr. 28, 2018	Apr. 26, 2018	Apr. 28, 2016	Jun. 22, 2013	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Proceeds from Issuance of Private Placement					$ 30,484
Warrants expiration period					1 year 8 months 26 days		8 months 12 days
Stock Option [Member]
Share price		$ 0.163
Option Exercised		4,000,000			4,000,000
Proceeds from stock option exercised		$ 40,000
Exercise price		$ 0.01
Issuance of common shares		3,754,600
Warrant [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000
Stock Issued During Period, Shares, Acquisitions	30,000,000
Warrants Exercise Price	$ 0.05
Warrants expiration period	5 years
Valuation method	Black-Scholes option pricing model				Black-Scholes option pricing model
Risk free interest rate	2.73%				1.92%
Volatility	204.30%				200.60%
Annual rate of dividend	0.00%				0.00%
Expected life (in years)	5 years				2 years
Share Purchase Agreement [Member] | Waratah Capital [Member]
Issuance of common shares				60,000,000
Share Purchase Agreement [Member] | Waratah Capital [Member] | Private Placement [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000		$ 1,500,000
Stock Issued During Period, Shares, Acquisitions	30,000,000
Share price	$ 0.05
Warrants Exercise Price	$ 0.05

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Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Cash and cash equivalents	$ 4,625	$ 28,481	$ 6,171	$ 14,085
Long-term investment - Shares	180,990	64,633
Long-term investment - Warrants	154,579	48,375
Financial assets	340,194	141,489
Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	4,625	28,481
Long-term investment - Shares	180,990	64,633
Long-term investment - Warrants
Financial assets	185,615	93,114
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents
Long-term investment - Shares
Long-term investment - Warrants
Financial assets
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents
Long-term investment - Shares
Long-term investment - Warrants	154,579	48,375
Financial assets	$ 157,579	$ 48,375

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Due to Shareholder (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018
Due to shareholder (Note 9)	$ 124,211	$ 56,200
Waratah Capital [Member]
Advance from related party	68,011
Due to shareholder (Note 9)	$ 124,211	$ 56,200

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Commitments (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Apr. 28, 2018	Apr. 28, 2016	Jun. 22, 2013	Jun. 30, 2018	Jun. 30, 2017
Warrants issued				30,000,000
Proceeds from Issuance of Private Placement				$ 30,484
Share Purchase Agreement [Member] | Waratah Capital [Member]
Issuance of common stock			60,000,000
Warrants issued			60,000,000
Share price			$ 0.05
Share Purchase Agreement [Member] | Waratah Capital [Member] | Private Placement [Member]
Proceeds from Issuance of Private Placement	$ 1,500,000	$ 1,500,000

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Related Party Transactions (Details) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Compensation	$ 42,930	$ 73,527
Directors [Member]
Compensation	22,924	29,715
Former Directors [Member]
Compensation		27,484
Officers [Member]
Compensation	7,744	4,640
Former Officers [Member]
Compensation	$ 12,262	$ 11,688

XML

Related Party Transactions (Details 1) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Related Party Transactions [Abstract]
Accounts payable and accrued liabilities	$ 73,689	$ 57,014
Due to shareholder (Note 9)	$ 124,211	$ 56,200

XML

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Former Officers [Member]
Payment for bookkeeping services	$ 2,179	$ 2,097
Directors and officers [Member]
Accrued consulting and professional fees	$ 73,689		$ 57,014

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Geographical Area Information (Details) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Current Assets	$ 11,894	$ 32,648
Long term investment	335,569	113,008
Equipment	71,560	71,560
Mineral property interest	931,722	931,722
Total assets	1,350,745	1,148,938
Total liabilities	217,171	160,177
Canada [Member]
Current Assets	11,894	32,648
Long term investment	335,569	113,008
Equipment
Mineral property interest
Total assets	347,463	145,656
Total liabilities	217,171	160,177
Africa [Member]
Current Assets
Long term investment
Equipment	71,560	71,560
Mineral property interest	931,722	931,722
Total assets	1,003,282	1,003,282
Total liabilities