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CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - CAD
9 Months Ended
Feb. 29, 2016
Feb. 28, 2015
Operating activities    
Net loss for the period CAD (5,981,130) CAD (8,201,295)
Add items not affecting cash:    
Depreciation 19,629 20,697
Stock-based compensation (note 7) 639,350 1,145,473
Write-off of capitalized acquisition costs (note 5(a)) 677,695 0
Gain on sale of capitalized acquisition costs (notes 5(b) and 5(c)) (92,397) 0
Unrealized loss on marketable securities 0 60,305
Gain on foreign exchange (144,223) (58,839)
Changes in non-cash items:    
Accounts receivable 7,506 (10,218)
Prepaid expenses 21,620 (29,375)
Accounts payable and accrued liabilities (318,509) (380,567)
Cash used in operating activities (5,170,459) (7,453,819)
Financing activities    
Cash received from issuance of shares 2,000,000 10,689,450
Share issuance costs (13,401) (190,167)
Repayment of promissory note (298,488) 0
Cash provided by financing activities 1,688,111 10,499,283
Investing activities    
Expenditures on property and equipment 0 (13,822)
Refund of reclamation bond 0 522,332
Cash received from sale of capitalized acquisition costs (note 5(b)) 25,728 0
Capitalized acquisition costs (32,594) 0
Cash provided by (used in) investing activities (6,866) 508,510
Effect of foreign exchange on cash 231,169 197,351
Increase (decrease) in cash and cash equivalents (3,258,045) 3,751,325
Cash and cash equivalents, beginning of the period 5,159,962 3,227,970
Cash and cash equivalents, end of the period CAD 1,901,917 CAD 6,979,295