MINING PROPERTY RIGHTS

3 Months Ended

Jul. 31, 2024

MINING PROPERTY RIGHTS

MINING PROPERTY RIGHTS

NOTE 4 – MINING PROPERTY RIGHTS

During the three months ended January 31, 2024, the Company purchased a mining claim (the Montreal Star Property) of $34,487 and a mining claim (Union Park 002) of $4,750.

Mining Property Right	$	39,237
Less: Amortization		(490	)
Less: Impairment		-
Carrying Amount as of April 30, 2024	$	38,747
Less: Amortization		(490	)
Less: Impairment		-
Carrying Amount as of July 31, 2024	$	38,257

The Company has acquired the mining property rights on the two mining properties which consist of the legal right to explore, extract and also expect to retain at least a portion of the benefits from mineral deposits. The plan is to start drilling tests and the mining operations will commence once it is viable to do so. Currently, the Company is in the process of engaging an exploration company to handle the project. The surveying and exploration proposals consist of drilling vertical holes into the ground to identify the best locations to mine. There are proposals to drill from 6 to 50 holes, and the Company is still evaluating the proposals to find the best plan. The Company estimates the exploration stage will start between May to October 2024 and development stage will start before October 2024 upon successful conclusion of exploration stage. During the period, the Company is deciding between several options for the exploration stage and as of the date of this financial statement, the conclusion is yet to be made.

The mining property rights are amortized over estimated useful life of 20 years. During the three months ended July 31, 2024, the amortization was $490. As of  July 31, 2024 and April 30, 2024, Mining Property Rights were $38,257 and $38,747, net of accumulated amortization of $ $980 and $490, respectively.