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RELATED PARTY TRANSACTIONS

3 Months Ended

Oct. 31, 2018

NOTE 5 - RELATED PARTY TRANSACTIONS

On March 19, 2018, the Company entered into a one-year employment agreement with the newly elected chief executive officer, who is also the sole director, pursuant to which the Company issued to him 17,500,000 shares of common stock, valued at $980,000, and agreed to pay him $164,706 to cover the federal income tax on the value of the stock and the tax payment. The shares are fully vested. As of October 31, 2018 and July 31, 2018, $164,706 was reflected as an amount due to related parties.

On March 19, 2018, the Company entered into a one-year consulting agreement with a consultant, who was, at the time, a 1.6% stockholder, pursuant to which the Company issued 7,500,000 shares of common stock, valued at $420,000, and agreed to pay $70,588 to the consultant to cover the federal income tax on the value of the stock and the tax payment. The shares were fully vested on issuance. As of October 31, 2018 and July 31, 2018, $70,588 was reflected as an amount due to related parties.

Prior to the change in management, the Company shared office space with other companies that were related parties. Two of these companies were significant stockholders of the Company, one of which shared the services of the chief financial officer and the other is a publicly-traded company which shared the services of the chief executive officer and the chief financial officer. Geological consulting fees were also paid to the company of the former chief executive officer.

The following table sets forth amounts paid and/or payable to related parties during the three months ended October 31, 2018 and 2017.

	For the three months ended
	October 31,
	2018		2017
Administrative fees	$	-	$	140
Shared office and administrative costs		-		3,250
	$	-	$	3,390

The following table sets forth the amounts due to related parties at October 31, 2018 and July 31, 2018:

	October 31,		July 31,
	2018		2018
	(Unaudited)
Due to chief executive officer pursuant to executive employment agreement	$	164,706	$	164,706
Due to consultant pursuant to consulting agreement		70,588		70,588
	$	235,294	$	235,294