ASSET RETIREMENT OBLIGATION

6 Months Ended

Oct. 31, 2022

Asset Retirement Obligation Disclosure [Abstract]

ASSET RETIREMENT OBLIGATION

NOTE 6 — ASSET RETIREMENT OBLIGATION

In conjunction with various permit approvals permitting the Company to undergo exploration activities at the CK Gold, Keystone and Maggie Creek projects, the Company has recorded an ARO based upon the reclamation plans submitted in connection with the various permits. The following table summarizes activity in the Company’s ARO for the periods presented:

	October 31, 2022		April 30, 2022
Balance, beginning of year	$	260,196	$	204,615
Addition and changes in estimates		-		33,517
Accretion expense		12,807		22,064
Balance, end of year	$	273,003	$	260,196

For the six months ended October 31, 2022 and 2021, accretion expense amounted to $12,807 and $10,186, respectively, and included in general and administrative expenses as reflected in the accompanying statements of operations. For the three months ended October 31, 2022 and 2021, accretion expense amounted to $6,533 and $5,252, respectively, and included in general and administrative expenses as reflected in the accompanying statements of operations.