Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Estimated Value Lives

The tables below reflect the sections of the Company’s consolidated financial statements that were impacted by the error.

CONSOLIDATED BALANCE SHEET

	June 30, 2023
	As Reported			Adjustments			As Corrected
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities	$	7,389,864		$	345,000		$	7,734,864
Total current liabilities		13,389,864			345,000			13,734,864
Total liabilities		13,444,168			345,000			13,789,168
Stockholders’ equity
Additional paid- in capital	$	222,626,865		$	507,933		$	223,134,798
Accumulated deficit		(159,973,575	)		(852,933	)		(160,826,508	)
Total stockholders’ equity		61,214,484			(345,000	)		60,869,484

CONSOLIDATED STATEMENT OF OPERATIONS

	Fiscal year ended June 30, 2023
	As Reported			Adjustments			As Corrected
Operating expenses
General and administrative	$	11,960,831		$	887,300		$	12,848,131
Research and development		7,703,895			(138,160	)		7,565,735
Exploration		1,910,548			103,793			2,014,341
Total operating expenses		21,575,274			852,933			22,428,207
Net loss before other income (expense)	$	(21,575,274	)	$	(852,933	)	$	(22,428,207	)
Net loss attributable to common stockholders	$	(21,338,207	)	$	(852,933	)	$	(22,191,140	)
Net loss per share, basic and diluted	$	(0.49	)	$	(0.02	)	$	(0.51	)

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY

	Fiscal year ended June 30, 2023
	As Reported			Adjustments			As Corrected
Stockholders’ Equity
Additional paid-in capital:
Stock-based compensation expense	$	9,249,462		$	507,933		$	9,757,395
Balance, June 30, 2023	$	222,626,865		$	507,933		$	223,134,798
Accumulated deficit
Net loss for period	$	(21,338,207	)	$	(852,933	)	$	(22,191,140	)
Balance, June 30, 2023		(159,973,575	)	$	(852,933	)	$	(160,826,508	)
Total stockholders’ equity
Balance, June 30, 2023	$	61,214,484		$	(345,000	)	$	60,869,484

CONSOLIDATED STATEMENT OF CASH FLOWS

	Fiscal year ended June 30, 2023
	As Reported			Adjustments			As Corrected
Operating Activities
Net loss attributable to common stockholders	$	(21,338,207	)	$	(852,933	)	$	(22,191,140	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		9,249,462			507,933			9,757,395
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	$	(187,796	)	$	345,000		$	157,204
Net cash used in operating activities	$	(13,367,980	)	$	-		$	(13,367,980	)

Schedule of Estimated Value Lives

Schedule of Estimated Value Lives

Buildings	39 years
Building improvements	15 years
Equipment & vehicles	5 years

Schedule of Estimated Fair Value

The table below sets forth the assumptions used on the date of grant for estimating the fair value of options granted during the fiscal years ending June 30:

	2024			2023
Weighted average expected term (years)		3.00 - 5.00			5.00
Risk-free interest rate		4.31% - 4.62	%		4.33	%
Dividend yield		0	%		0	%
Volatility		95.85% - 135.46	%		140.61	%

Schedule of Potentially Dilutive Shares Outstanding

The Company had the following potentially dilutive shares outstanding as of June 30:

	2024		2023
Convertible notes		769,342		-
Warrants		6,928,758		5,729.360
Share awards outstanding		3,428,604		1,736,376
Total potentially dilutive		11,126,704		7,465,736