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Consolidated statements of cash flows (USD $)
6 Months Ended 87 Months Ended
Aug. 31, 2014
Aug. 31, 2013
Aug. 31, 2014
Operating activities      
Net loss $ (1,653,557) $ (3,746,174) $ (45,525,363)
Adjustments for:      
Accretion 209,769 2,076,400 4,352,948
Amortization of deferred issuance costs 922 20,059 38,940
Depreciation 66 82 2,447
Interest expense on convertible debentures 398,601 432,947 1,276,467
Fair value adjustment on warrants (37,276) (1,511,513) (6,393,081)
Foreign exchange 0 0 (256,260)
Loss on debt settlement 0 0 9,852
Mineral property impairment 0 0 975,000
Mineral property option payments - shares 0 0 1,948,597
Other income 0 0 (138,474)
Stock-based compensation 0 368,905 11,599,929
Changes in non-cash working capital items:      
Receivables (894) 36,002 (5,747)
Injunction bond 0 350,000 0
Prepaid expenses 47,778 98,202 (63,674)
Trade payables and accrued liabilities 690,724 128,862 3,037,944
Net cash flows used in operating activities (343,867) (1,746,228) (29,140,475)
Investing activities      
Reclamation deposits 0 0 (15,000)
Long term deposits 0 0 (975,000)
Mineral property acquisition costs 0 0 (1,600,000)
Net cash flows used in investing activities 0 0 (2,590,000)
Financing activities      
Debentures - net of issue costs 296,677 132,505 5,604,857
Proceeds on issuance of common shares - net of issue costs 0 8,157 25,136,248
Proceeds from Loans 0 0 546,242
Subscriptions received 12,500 0 457,500
Net cash flows from financing activities 309,177 140,662 31,744,847
Cash generated (decrease) in cash (34,690) (1,605,566) 14,372
Cash, beginning 49,062 1,643,771 0
Cash, ending 14,372 38,205 14,372
Supplemental disclosures:      
Income tax 0 0 0
Interest $ 0 $ 0 $ 0