Silver Bull Resources (SVBL) 10-Q 14 Jun 23 2023 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Apr. 30, 2023	Jun. 13, 2023
Document Information Line Items
Entity Registrant Name	SILVER BULL RESOURCES, INC.
Document Type	10-Q
Current Fiscal Year End Date	--10-31
Entity Common Stock, Shares Outstanding		35,680,652
Amendment Flag	false
Entity Central Index Key	0001031093
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Apr. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-33125
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	91-1766677
Entity Address, Address Line One	777 Dunsmuir Street
Entity Address, Address Line Two	Suite 1605
Entity Address, City or Town	Vancouver, B.C.
Entity Address, Country	CA
Entity Address, Postal Zip Code	V7Y 1K4
City Area Code	(604)
Local Phone Number	-687-5800
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Apr. 30, 2023	Oct. 31, 2022
CURRENT ASSETS
Cash and cash equivalents (Note 13)	$ 497,783	$ 886,728
Other receivables	6,287	2,834
Prepaid expenses and deposits	35,411	49,537
Due from related party (Note 5)	2,428	23,196
Total Current Assets	541,909	962,295
Value-added tax receivable, net of allowance for uncollectible taxes of $506,311 and $449,219, respectively (Note 6)	134,639	127,036
Office and mining equipment, net (Note 7)	136,230	143,568
Property concessions (Note 8)	5,004,386	5,019,927
TOTAL ASSETS	5,817,164	6,252,826
CURRENT LIABILITIES
Accounts payable	313,844	159,585
Accrued liabilities and expenses	275,032	179,607
Income tax payable	1,500	3,000
Loan payable (Note 9)	44,189
Total Current Liabilities	634,565	342,192
Loan payable (Note 9)		43,959
TOTAL LIABILITIES	634,565	386,151
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS’ EQUITY (Notes 4, 10, 11 and 12)
Common stock, $0.01 par value; 150,000,000 shares authorized, 35,680,652 and 35,055,652 shares issued and outstanding, respectively	2,424,665	2,418,415
Additional paid-in capital	140,883,647	140,750,310
Accumulated deficit	(138,217,961)	(137,394,298)
Other comprehensive income	92,248	92,248
Total Stockholders’ Equity	5,182,599	5,866,675
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 5,817,164	$ 6,252,826

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Apr. 30, 2023	Oct. 31, 2022
Statement of Financial Position [Abstract]
Net of allowance for uncollectible taxes (in Dollars)	$ 506,311	$ 449,219
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	35,680,652	35,055,652
Common stock, shares outstanding	35,680,652	35,055,652

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
REVENUES
EXPLORATION AND PROPERTY HOLDING COSTS
Exploration and property holding costs	38,259	53,493	155,465	161,781
Depreciation (Note 7)	3,667	5,483	7,338	10,726
Concessions impairment (Note 8)			15,541
Goodwill impairment		2,058,031		2,058,031
TOTAL EXPLORATION AND PROPERTY HOLDING COSTS	41,926	2,117,007	178,344	2,230,538
GENERAL AND ADMINISTRATIVE EXPENSES
Personnel	106,906	187,516	195,680	279,651
Office and administrative	65,919	96,374	100,431	131,222
Professional services	219,283	59,805	266,247	118,552
Directors’ fees	26,324	69,954	60,150	88,870
Provision for uncollectible value-added taxes (Note 6)	2,108	2,867	10,434	9,302
TOTAL GENERAL AND ADMINISTRATIVE EXPENSES	420,540	416,516	632,942	627,597
LOSS FROM OPERATIONS	(462,466)	(2,533,523)	(811,286)	(2,858,135)
OTHER EXPENSES
Interest income	6,297	5	13,091	11
Foreign currency transaction loss	(2,554)	(13,962)	(5,396)	(18,355)
Other costs (Note 13)	(19,355)		(19,355)
TOTAL OTHER EXPENSES	(15,612)	(13,957)	(11,660)	(18,344)
LOSS BEFORE INCOME TAXES	(478,078)	(2,547,480)	(822,946)	(2,876,479)
INCOME TAX RECOVERY (EXPENSE)	283	(500)	(717)	(1,500)
NET AND COMPREHENSIVE LOSS	$ (477,795)	$ (2,547,980)	$ (823,663)	$ (2,877,979)
BASIC AND DILUTED NET LOSS PER COMMON SHARE (in Dollars per share)	$ (0.01)	$ (0.07)	$ (0.02)	$ (0.08)
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES (in Shares)	35,420,820	34,958,654	35,235,210	34,749,841

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
Income Statement [Abstract]
DILUTED NET LOSS PER COMMON SHARE	$ (0.01)	$ (0.07)	$ (0.02)	$ (0.08)
DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING	35,420,820	34,958,654	35,235,210	34,749,841

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Other Comprehensive Income	Total
Balance at Oct. 31, 2021	$ 2,413,337	$ 139,803,515	$ (134,226,099)	$ 92,248	$ 8,083,001
Balance (in Shares) at Oct. 31, 2021	34,547,838
Issuance of common stock as follows:
- For compensation	$ 5,078	123,016			128,094
- For compensation (in Shares)	507,814
Stock option activity as follows:
- Stock-based compensation for options issued to directors, officers, employees and advisors (Note 11)		197,080			197,080
Net loss			(2,877,979)		(2,877,979)
Balance at Apr. 30, 2022	$ 2,418,415	140,123,611	(137,104,078)	92,248	5,530,196
Balance (in Shares) at Apr. 30, 2022	35,055,652
Balance at Jan. 31, 2022	$ 2,413,337	139,803,515	(134,556,098)	92,248	7,753,002
Balance (in Shares) at Jan. 31, 2022	34,547,838
Issuance of common stock as follows:
- For compensation	$ 5,078	123,016			128,094
- For compensation (in Shares)	507,814
Stock option activity as follows:
- Stock-based compensation for options issued to directors, officers, employees and advisors (Note 11)		197,080			197,080
Net loss			(2,547,980)		(2,547,980)
Balance at Apr. 30, 2022	$ 2,418,415	140,123,611	(137,104,078)	92,248	5,530,196
Balance (in Shares) at Apr. 30, 2022	35,055,652
Balance at Oct. 31, 2022	$ 2,418,415	140,750,310	(137,394,298)	92,248	5,866,675
Balance (in Shares) at Oct. 31, 2022	35,055,652
Issuance of common stock as follows:
- For compensation	$ 6,250	82,161			88,411
- For compensation (in Shares)	625,000
Stock option activity as follows:
- Stock-based compensation for options issued to directors, officers, employees and advisors (Note 11)		51,176			51,176
Net loss			(823,663)		(823,663)
Balance at Apr. 30, 2023	$ 2,424,665	140,883,647	(138,217,961)	92,248	5,182,599
Balance (in Shares) at Apr. 30, 2023	35,680,652
Balance at Jan. 31, 2023	$ 2,418,415	140,804,660	(137,740,166)	92,248	5,575,157
Balance (in Shares) at Jan. 31, 2023	35,055,652
Issuance of common stock as follows:
- For compensation	$ 6,250	82,161			88,411
- For compensation (in Shares)	625,000
Stock option activity as follows:
- Stock-based compensation for options issued to directors, officers, employees and advisors (Note 11)		(3,174)			(3,174)
Net loss			(477,795)		(477,795)
Balance at Apr. 30, 2023	$ 2,424,665	$ 140,883,647	$ (138,217,961)	$ 92,248	$ 5,182,599
Balance (in Shares) at Apr. 30, 2023	35,680,652

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) (Parentheticals) - $ / shares	Apr. 30, 2023	Apr. 30, 2022
Statement of Stockholders' Equity [Abstract]
Issuance of common stock compensation	$ 0.14	$ 0.25

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (823,663)	$ (2,877,979)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation	7,338	10,726
Concessions impairment (Note 8)	15,541
Goodwill impairment		2,058,031
Provision for uncollectible value-added taxes	10,434	9,302
Foreign currency transaction (income) loss	(2,194)	36,363
Stock options issued for compensation (Note 11)	51,176	197,080
Shares of common stock issued for services (Note 10)	88,411	128,094
Changes in operating assets and liabilities:
Value-added tax receivable	(5,870)	(10,572)
Other receivables	(3,435)	(272)
Prepaid expenses and deposits	14,581	148,087
Accounts payable	178,276	(159,201)
Accrued liabilities and expenses	61,193	(117,920)
Due to related party (Note 5)	20,767	7,547
Income tax payable	(1,500)	1,500
Net cash used in operating activities	(388,945)	(569,214)
CASH FLOWS FROM INVESTING ACTIVITY:
Proceeds from sale of investments		469,484
Net cash provided by investing activity		469,484
CASH FLOWS FROM FINANCING ACTIVITY:
Net cash provided by financing activity
Effect of exchange rates on cash and cash equivalents		(2,574)
Net decrease in cash and cash equivalents	(388,945)	(102,304)
Cash and cash equivalents beginning of period	886,728	189,607
Cash and cash equivalents end of period	497,783	87,303
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Income taxes paid	2,220	1,803
Interest paid

ORGANIZATION, DESCRIPTION OF BU

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN	6 Months Ended
	Apr. 30, 2023
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN [Abstract]
ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN	NOTE 1 – ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN Silver Bull Resources, Inc. (the “Company”) was incorporated in the State of Nevada on November 8, 1993 as the Cadgie Company for the purpose of acquiring and developing mineral properties. The Cadgie Company was a spin-off from its predecessor, Precious Metal Mines, Inc. On June 28, 1996, the Company’s name was changed to Metalline Mining Company. On April 21, 2011, the Company’s name was changed to Silver Bull Resources, Inc. The Company’s fiscal year-end is October 31. The Company has not realized any revenues from its planned operations and is considered an exploration stage company. The Company has not established any reserves with respect to its exploration projects and is not expected to enter into the development stage with respect to any of its projects. The Company has been engaged in the business of mineral exploration. The Company currently owns a number of property concessions located in Coahuila, Mexico (collectively known as the “Sierra Mojada Property”). The Company conducts its operations in Mexico through its wholly-owned subsidiary corporations, Minera Metalin S.A. de C.V. (“Minera Metalin”) and Minas de Coahuila SBR S.A. de C.V. (“Minas”). On April 16, 2010, Metalline Mining Delaware, Inc., a wholly-owned subsidiary of the Company incorporated in the State of Delaware, was merged with and into Dome Ventures Corporation (“Dome”), a Delaware corporation. As a result, Dome became a wholly-owned subsidiary of the Company. Dome has a wholly-owned subsidiary Dome Asia Inc., which is incorporated in the British Virgin Islands. On April 23, 2023, Nomad Minerals Ltd. (“Nomad Minerals"), a wholly-owned subsidiary of the Company, was incorporated in British Columbia, Canada. On April 28, 2023, Nomad Metals Limited was incorporated at Astana International Financial Centre in Astana, Republic of Kazakhstan, as a wholly-owned subsidiary of Nomad Minerals. The Company’s efforts and expenditures have been concentrated on the exploration of properties, principally in the Sierra Mojada Property located in Coahuila, Mexico (the “Sierra Mojada Project”). The Company has not determined whether its exploration properties contain ore reserves that are economically recoverable. The ultimate realization of the Company’s investment in exploration properties is dependent upon the success of future property sales, the existence of economically recoverable reserves, and the ability of the Company to obtain financing or make other arrangements for exploration, development, and future profitable production activities. The ultimate realization of the Company’s investment in exploration properties cannot be determined at this time. Illegal Blockade of Sierra Mojada Property The Company’s efforts and expenditures have been concentrated on the exploration of properties, principally with respect to the Sierra Mojada Property located in Coahuila, Mexico. On June 1, 2018, the Company and its subsidiaries Minera Metalin and Contratistas de Sierra Mojada S.A. de C.V. entered into an earn-in option agreement (the “South32 Option Agreement”) with South32 International Investment Holdings Pty Ltd (“South32”), a wholly-owned subsidiary of South32 Limited (ASX/JSE/LSE: S32), whereby South32 was able to obtain an option to purchase 70% of the shares of Minera Metalin (the “South32 Option”). On October 11, 2019, the Company and its subsidiary Minera Metalin issued a notice of force majeure to South32 pursuant to the South32 Option Agreement. Due to an illegal blockade by a cooperative of local miners called Sociedad Cooperativa de Exploración Minera Mineros Norteños, S.C.L. (“Mineros Norteños”), the Company halted all work on the Sierra Mojada Property. The notice of force majeure was issued because the Company and its subsidiary Minera Metalin was unable to perform their obligations under the South32 Option Agreement due to the blockade. Pursuant to the South32 Option Agreement, any time period provided for in the South32 Option Agreement was to be generally extended by a period equal to the period of delay caused by the event of force majeure. On August 31, 2022, due to the ongoing blockade of the site, the South32 Option Agreement was mutually terminated by South32 and the Company. No portion of the equity value of the Company has been classified as temporary equity as the South32 Option has no intrinsic value. South32 paid $518,000 to the Company as a final payment for the exploration costs incurred by the Company during the blockade and the Company released South32 from all of claims as of the date of termination. As of June 13, 2023, the blockade by Mineros Norteños at, on and around the Sierra Mojada Property is ongoing, and the Company remains unable to access the Sierra Mojada Property. On March 2, 2023, the Company filed a Notice of Intent with Mexico’s Directorate General of Foreign Investment to initiate a legacy NAFTA claim under Annex 14-C of the United States-Mexico-Canada Agreement to recover economic damages resulting from the illegal blockade of the Sierra Mojada Property by Mineros Norteños (“NAFTA Notice of Intent”). The Company has been unable to access the project since the illegal blockade commenced in September 2019. Despite numerous demands and requests for action by the Company, Mexican governmental agencies have allowed this unlawful behaviour to continue and, as such, failed to protect the Company’s investment. On or before June 30, 2023, the Company intends to file the request for arbitration (the “Request”) in the legacy NAFTA claim at the International Centre for Settlement of Investment Dispute (the “ICSID”). Arras Minerals Corp. Spin-Off On August 12, 2020, the Company entered into an option agreement (the “Beskauga Option Agreement”) with Copperbelt AG, a corporation existing under the laws of Switzerland (“Copperbelt Parent”), and Dostyk LLP, an entity existing under the laws of Kazakhstan and a wholly-owned subsidiary of Copperbelt (the “Copperbelt Sub,” and together with Copperbelt Parent, “Copperbelt”), pursuant to which the Company has the exclusive right and option to acquire Copperbelt’s right, title and 100% interest in the Beskauga property located in Kazakhstan (the “Beskauga Property”), which consists of the Beskauga Main project (the “Beskauga Main Project”) and the Beskauga South project (the “Beskauga South Project,” and together the Beskauga Main Project, the “Beskauga Project”). The transaction contemplated by the Beskauga Option Agreement closed on January 26, 2021. On February 5, 2021, Arras Minerals Corp. (“Arras”) was incorporated in British Columbia, Canada, as a wholly-owned subsidiary of the Company. On March 19, 2021, pursuant to an asset purchase agreement with Arras, the Company transferred its right, title and interest in and to the Beskauga Option Agreement, among other things, to Arras in exchange for 36,000,000 common shares of Arras. On September 24, 2021, the Company distributed to its shareholders one Arras common share for each Silver Bull share held by such shareholders, or 34,547,838 Arras shares in total. Upon completion of the distribution, the Company retained 1,452,162 Arras common shares as a strategic investment and Arras became a stand-alone company. In December 2021 and June 2022, the Company sold 600,000 and 852,262 common shares of Arras at a price of $CDN 1.00 and $CDN 1.50 per shares, respectively. The Company has no interest in Arras as of April 30, 2023. Exploration Stage The Company has established the existence of mineral resources for the Sierra Mojada Project. The Company has not established proven or probable reserves, as defined by the United States Securities and subpart 1300 of Regulation S-K (“S-K 1300”), through the completion of a “final” or “bankable” feasibility study for Sierra Mojada Project. Furthermore, the Company has no plans to establish proven or probable reserves for Sierra Mojada Project. As a result, and despite the fact that the Company commenced extraction of mineral resources at the Sierra Mojada Property, the Company remains an exploration stage company, as defined by the SEC. Beginning with the Company’s annual report on Form 10-K for the year ended October 31, 2022, the Company reports its mineral resources in accordance with S-K 1300. Going Concern Since its inception in November 1993, the Company has yet to generated revenue and has incurred an accumulated deficit of $138,218,000. Accordingly, the Company has not generated cash flows from operations. Since inception, the Company has relied primarily upon proceeds from private placements and registered direct offerings of the Company’s equity securities, sales of investments and warrant exercises as the primary sources of financing to fund the Company’s operations. As of April 30, 2023, the Company had cash and cash equivalents of approximately $498,000. Based on the Company’s limited cash and cash equivalents, and history of losses, there is substantial doubt as to whether the Company’s existing cash resources are sufficient to enable the Company to continue its operations for the next 12 months as a going concern. Management plans to pursue possible financing and strategic options, including, but not limited to, obtaining additional equity financing, and the exercising of warrants by warrantholders. However, there is no assurance that the Company will be successful in pursuing these plans These interim condensed consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary in the event the Company can no longer continue as a going concern. Such adjustments could be material.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Apr. 30, 2023
Basis of Presentation [Abstract]
BASIS OF PRESENTATION	NOTE 2 – BASIS OF PRESENTATION The Company’s interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable rules of the SEC regarding interim reporting. All intercompany transactions and balances have been eliminated during consolidation. Certain information and note disclosures typically included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The consolidated balance sheet at October 31, 2022 was derived from the audited consolidated financial statements. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended October 31, 2022. All figures are in United States dollars unless otherwise noted. The interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements. In the opinion of management, the interim condensed consolidated financial statements furnished herein include all adjustments, all of which are of a routine recurring nature, necessary for a fair statement of the results for the interim periods presented. Uncertainties with respect to estimates and assumptions are inherent in the preparation of the Company’s interim condensed consolidated financial statements. Accordingly, operating results for the six months ended April 30, 2023, are not necessarily indicative of the results that may be expected for the fiscal year ending October 31, 2023, or any future period.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Apr. 30, 2023
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies are defined in the Company’s Annual Report on Form 10-K for the year ended October 31, 2022 filed with the SEC on January 26, 2023. Other recent accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) (including its Emerging Issues Task Force) and the SEC did not or are not expected to have a significant impact on the Company’s present or future consolidated financial statements.

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Apr. 30, 2023
Earnings Per Share [Abstract]
NET LOSS PER SHARE	N OTE 4 – NET LOSS PER SHARE The Company had stock options and warrants outstanding at April 30, 2023 and 2022 that upon exercise were issuable into 4,971,289 and 5,215,039 shares of the Company’s common stock, respectively. They were not included in the calculation of loss per share because they would have been anti-dilutive.

DUE FROM RELATED PARTY

DUE FROM RELATED PARTY	6 Months Ended
	Apr. 30, 2023
Due from Related Party [Abstract]
DUE FROM RELATED PARTY	NOTE 5 – DUE FROM RELATED PARTY As of April 30, 2023, due from related party consists of $2,428 (October 31, 2022 - $23,196) due from Arras for shared employees’ salaries and office expenses. This amount is non-interest bearing and is to be repaid on demand.

VALUE-ADDED TAX RECEIVABLE

VALUE-ADDED TAX RECEIVABLE	6 Months Ended
	Apr. 30, 2023
Value-Added Tax Receivable [Abstract]
VALUE-ADDED TAX RECEIVABLE	NOTE 6 – VALUE-ADDED TAX RECEIVABLE Value-added tax (“VAT”) receivable relates to VAT paid in Mexico. The Company estimates a net VAT of $134,639 (October 31, 2022 - $127,036) will be received and believes that it remains legally entitled to be refunded the full amount of the VAT receivable and intends to rigorously continue its VAT recovery efforts. While the Company continues to pursue recovery from the Mexican government, the outcomes and process for recovering VAT can be lengthy and unpredictable based on the continued failure to recover the VAT receivable and a recent preliminary unfavorable ruling from the Mexican tax authority, which the Company is in the process of challenging. The allowance for uncollectible VAT was estimated by management based upon several factors, including the length of time the returns have been outstanding, responses received from tax authorities, general economic conditions in Mexico and estimated net recovery after commissions. A summary of the changes in the allowance for uncollectible VAT for the six months ended April 30, 2023 is as follows: Allowance for uncollectible VAT – October 31, 2022 $ 449,219 Provision for VAT receivable allowance 10,434 Foreign currency translation adjustment 46,658 Allowance for uncollectible VAT – April 30, 2023 $ 506,311

OFFICE AND MINING EQUIPMENT

OFFICE AND MINING EQUIPMENT	6 Months Ended
	Apr. 30, 2023
Office and Mining Equipment [Abstract]
OFFICE AND MINING EQUIPMENT	NOTE 7 – OFFICE AND MINING EQUIPMENT The following is a summary of the Company’s office and mining equipment at April 30, 2023 and October 31, 2022, respectively: April 30, October 31, 2023 2022 Mining equipment $ 396,153 $ 396,153 Vehicles 92,873 92,873 Buildings and structures 185,724 185,724 Computer equipment and software 74,236 74,236 Well equipment 39,637 39,637 Office equipment 47,597 47,597 836,220 836,220 Less: Accumulated depreciation (699,990 ) (692,652 ) Office and mining equipment, net $ 136,230 $ 143,568

PROPERTY CONCESSIONS

PROPERTY CONCESSIONS	6 Months Ended
	Apr. 30, 2023
Schedule of property concessions [Abstract]
PROPERTY CONCESSIONS	NOTE 8 – PROPERTY CONCESSIONS The following is a summary of the Company’s property concessions for the Sierra Mojada Property as at April 30, 2023 and October 31, 2022: Property concessions – October 31, 2022 $ 5,019,927 Impairment (15,541 ) Property concessions – April 30, 2023 $ 5,004,386 During the six months ended April 30, 2023, the Company decided to withdraw certain concessions’ applications in Sierra Mojada, Mexico. As a result, the Company no longer has the right to these property concessions and the value in use is $ nil If the blockade at Sierra Mojada Property continues, further impairment of property concessions is possible.

LOAN PAYABLE

LOAN PAYABLE	6 Months Ended
	Apr. 30, 2023
Loan Payable [Abstract]
LOAN PAYABLE	NOTE 9 – LOAN PAYABLE In June 2020, the Company received $29,531 ($CDN 40,000) in the form of a Canada Emergency Business Account (“CEBA”) loan. CEBA is part of the economic assistance program launched by the Government of Canada to ensure that businesses have access to capital during the COVID-19 pandemic that can only be used to pay non-deferrable operating expenses. During the period from receipt of the CEBA loan to December 31, 2022 (the “Initial Term”), no interest will be charged on the principal amount outstanding. If at least $CDN 30,000 is repaid on or before the end of the Initial Term, the remaining $CDN 10,000 of principal will be forgiven pursuant to the terms of the CEBA loan. During the period from January 1, 2023 to December 31, 2025 (the “Extended Term”), if any portion of the loan remains outstanding, interest will be payable monthly at a rate of 5% per annum on the outstanding principal balance. In January 2021, the Company received an additional $15,615 ($CDN 20,000) CEBA loan. Fifty percent (50%) of the additional loan is forgivable if repaid by December 31, 2022. The loan accrues no interest before the end of the Initial Term, and thereafter converts to a three-year term loan with a 5% annual interest rate. Any portion of the loan is repayable without penalty at any time prior to December 31, 2025. The total CEBA loan amount stands at $CDN 60,000 with $CDN 20,000 forgivable if repaid by December 31, 2022. In January 2022, the repayment deadline for the CEBA loan to qualify for loan forgiveness was extended to December 31, 2023. The balance of the CEBA loan is fully repayable on or before the end of the Extended Term, if not repaid on or before the end of the Initial Term. The Company anticipates repaying the CEBA loan prior to the Initial Term date. An income will be recognized in the period when the CEBA loan is forgiven. Loan payable – October 31, 2022 $ 43,959 Foreign currency translation adjustment 230 Loan payable – April 30, 2023 $ 44,189

COMMON STOCK

COMMON STOCK	6 Months Ended
	Apr. 30, 2023
Common Stock [Abstract]
COMMON STOCK	NOTE 10 – COMMON STOCK On March 9, 2023, the Company issued 625,000 shares of common stock at an average of $0.14 per share of common stock as payment of accrued management bonuses in the amount of $88,411 ($CDN121,875). On February 17, 2022, the Company issued 507,814 shares of common stock at an average of $0.25 per share of common stock as payment of accrued management bonuses in the amount of $128,094 ($CDN162,500).

STOCK OPTIONS

STOCK OPTIONS	6 Months Ended
	Apr. 30, 2023
STOCK OPTIONS [Abstract]
STOCK OPTIONS	NOTE 11 – STOCK OPTIONS The Company has one stock option plan under which equity securities are authorized for issuance to officers, directors, employees and advisors: the 2019 Stock Option and Stock Bonus Plan (the “2019 Plan”). The 2019 Plan was amended on April 19, 2022 (the “Amended 2019 Plan”). Under the Amended 2019 Plan, 10% of the total shares outstanding are reserved for issuance upon the exercise of options or the grant of stock bonuses, to a maximum of 15,000,000 shares. Options are typically granted with an exercise price equal to the closing market price of the Company’s stock at the date of grant, have a graded vesting schedule over two years and have a contractual term of five years. During the six months period ended April 30, 2023, the Company granted options to acquire 150,000 shares of common stock with a weighted-average grant-date fair value of $0.07 per share. A summary of the range of assumptions used to value stock options granted for the six months ended April 30, 2023 and 2022 are as follows: Six Months Ended April 30, Options 2023 2022 Expected volatility 74% – 81% 81% – 87% Risk-free interest rate 3.83% – 3.96% 1.60% – 1.74% Dividend yield — — Expected term (in years) 2.50 – 3.50 2.50 – 3.50 No options were exercised during the six months ended April 30, 2023. During the six months period ended April 30, 2022, the Company granted options to acquire 3,300,000 shares of common stock with a weighted-average grant-date fair value of $0.14 per share. No options were exercised during the six months ended April 30, 2022. The following is a summary of stock option activity for the six months ended April 30, 2023: Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at October 31, 2022 3,193,750 $ 0.25 4.25 $ — Granted 150,000 0.14 Cancelled (300,000 ) 0.24 Expired (43,750 ) 1.27 Outstanding at April 30, 2023 3,000,000 0.23 3.14 — Exercisable at April 30, 2023 2,150,000 $ 0.23 2.83 $ — The Company recognized stock-based compensation costs for stock options of $51,176 and $197,080 for the six months ended April 30, 2023 and 2022, respectively. As of April 30, 2023, there was $47,430 of total unrecognized compensation expense. Summarized information about stock options outstanding and exercisable at April 30, 2023 is as follows: Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.24 2,850,000 3.05 $ 0.24 2,100,000 $ 0.24 0.14 150,000 4.87 0.14 50,000 0.14

WARRANTS

WARRANTS	6 Months Ended
	Apr. 30, 2023
WARRANTS [Abstract]
WARRANTS	NOTE 12 – A summary of warrant activity for the six months ended April 30, 2023 is as follows: Warrants Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding and exercisable at October 31, 2022 1,971,289 $ 0.59 2.99 $ — Outstanding and exercisable at April 30, 2023* 1,971,289 0.59 2.50 — * Pursuant to the terms of the Separation and Distribution Agreement, dated as of August 31, 2021, between Silver Bull and Arras entered into in connection with the Distribution (Note 1), 1,971,289 warrants with a weighted average exercise price of $0.59 are exercisable into one share of common stock of the Company and one common share of Arras. The Company will receive $0.34 of the proceeds from the exercise of each of these warrants and the remaining proceeds will be paid to Arras. No warrants were issued or exercised during the six months ended April 30, 2023 or 2022. Summarized information about warrants outstanding and exercisable at April 30, 2023 is as follows: Warrants Outstanding and Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price $ 0.59 1,971,289 2.50 $ 0.59

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Apr. 30, 2023
Financial Instruments [Abstract]
FINANCIAL INSTRUMENTS	NOTE 13 – FINANCIAL INSTRUMENTS Fair Value Measurements All financial assets and financial liabilities are recorded at fair value on initial recognition. Transaction costs are expensed when incurred, unless they are directly attributable to the acquisition of financial assets or the assumption of liabilities carried at amortized cost, in which case the transaction costs adjust the carrying amount. The three levels of the fair value hierarchy are as follows: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). Under fair value accounting, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s financial instruments consist of cash and cash equivalents, accounts payable, due from related party and loan payable. The carrying amounts of cash and cash equivalents, accounts payable and due from related party approximate fair value at April 30, 2023 and October 31, 2022 due to the short maturities of these financial instruments. Loan payable is classified as Level 2 in the fair value hierarchy. Credit Risk Credit risk is the risk that the counterparty to a financial instrument will cause a financial loss for the Company by failing to discharge its obligations. To mitigate exposure to credit risk on financial assets, the Company has established policies to ensure the liquidity of funds and ensure that counterparties demonstrate acceptable levels of creditworthiness. The Company maintains its U.S. dollar and Canadian dollar cash and cash equivalents in bank and demand deposit accounts with major financial institutions with high credit standings. Cash deposits held in Canada are insured by the Canada Deposit Insurance Corporation (“CDIC”) for up to $CDN 100,000. Certain Canadian bank accounts held by the Company exceed these federally insured limits or are uninsured as they relate to U.S. dollar deposits held in Canadian financial institutions. As of April 30, 2023, and October 31, 2022, the Company’s cash and cash equivalent balances held in Canadian financial institutions included $423,968 and $802,761, respectively, which was not insured by the CDIC. The Company has not experienced any losses on such accounts, and management believes that using major financial institutions with high credit ratings mitigates the credit risk to cash and cash equivalents. In February 2023, a cash balance of $19,355 ($MXN 349,884) was subject to seizure by the Mexican government due to a dispute over certain years’ VAT and corporate tax. As a result, the Company does not maintain cash in bank accounts in Mexico as of April 30, 2023. These accounts were denominated in the local currency and are considered uninsured. As of April 30, 2023 and October 31, 2022, the U.S. dollar equivalent balance for these accounts was $ nil As at April 30, 2023 and October 31, 2022, cash and cash equivalents consist of guaranteed investment certificates of $224,186 and $369,551, respectively, held in bank accounts. Liquidity Risk Liquidity risk is the risk that the Company will encounter difficulty in satisfying its financial obligations as they become due. The Company manages its liquidity risk by forecasting cash flows from operations and anticipating investing and financing activities. As at April 30, 2023, the Company had working capital deficiency of $92,656 and cash and cash equivalents of $497,783 and is exposed to significant liquidity risk at this time. Furthermore, as the Company is in the exploration stage, it will periodically have to raise funds to continue operations and intends to raise further financing through equity offerings. Accounts payable and accrued liabilities are non-interest-bearing and are typically settled on 30-day terms. Interest Rate Risk The Company holds substantially all of its cash and cash equivalents in bank and demand deposit accounts with major financial institutions. The interest rates received on these balances may fluctuate with changes in economic conditions. Based on the average cash and cash equivalent balances during the six months ended April 30, 2023, a 1% decrease in interest rates would have resulted in a reduction of approximately $2,771 in interest income for the period. Foreign Currency Exchange Risk Certain purchases of labor, operating supplies and capital assets are denominated in $CDN, $MXN or other currencies. As a result, currency exchange fluctuations may impact the costs of the Company’s operations. Specifically, the appreciation of the $MXN or $CDN against the U.S. dollar may result in an increase in operating expenses and capital costs in U.S. dollar terms. The Company currently does not engage in any currency hedging activities. Based on the net exposures as at April 30, 2023, a 5% depreciation or appreciation of the $CDN and $MXN against the US dollar would result in an increase and decrease, respectively, of approximately $5,000 in the Company’s net income.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Apr. 30, 2023
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 14 – COMMITMENTS AND CONTINGENCIES Compliance with Environmental Regulations The Company’s exploration activities are subject to laws and regulations controlling not only the exploration and mining of mineral properties but also the effect of such activities on the environment. Compliance with such laws and regulations may necessitate additional capital outlays or affect the economics of a project, and cause changes or delays in the Company’s activities. Property Concessions in Mexico To properly maintain property concessions in Mexico, the Company is required to pay a semi-annual fee to the Mexican government and complete annual assessment work. Royalty The Company has agreed to pay a 2% net smelter return royalty on certain property concessions within the Sierra Mojada Property based on the revenue generated from production. Total payments under this royalty are limited to $6.875 million (the “Royalty”). To date, no royalties have been paid. Litigation and Claims Mineros Norteños Case On May 20, 2014, Mineros Norteños filed an action in the Local First Civil Court in the District of Morelos, State of Chihuahua, Mexico, against the Company’s subsidiary, Minera Metalin, claiming that Minera Metalin breached an agreement regarding the development of the Sierra Mojada Property. Mineros Norteños sought payment of the Royalty, including interest at a rate of 6% per annum since August 30, 2004, even though no revenue has been produced from the applicable mining concessions. It also sought payment of wages to the cooperative’s members since August 30, 2004, even though none of the individuals were hired or performed work for Minera Metalin under this agreement and Minera Metalin did not commit to hiring them. On January 19, 2015, the case was moved to the Third District Court (of federal jurisdiction). On October 4, 2017, the court ruled that Mineros Norteños was time barred from bringing the case. On October 19, 2017, Mineros Norteños appealed this ruling. On July 31, 2019, the Federal Appeals Court upheld the original ruling. This ruling was subsequently challenged by Mineros Norteños and on January 24, 2020, the Federal Circuit Court ruled that the Federal Appeals Court must consider additional factors in its ruling. In March 2020, the Federal Appeals Court upheld the original ruling after considering these additional factors. In August 2020, Mineros Norteños appealed this ruling, which appeal the Company timely responded and objected to on October 5, 2020. On March 26, 2021, the Federal Circuit Court issued a final and conclusive resolution, affirming the Federal Appeals Court decision. Despite the judgments in favour of the Company, Mineros Norteños has continued to block access to the facilities at Sierra Mojada since September 2019. The Company has filed criminal complaints with the State of Coahuila, federal and state authorities have been contacted to intervene and terminate the blockade, and the Company has attempted to negotiate with Mineros Norteños, without resolution to date. The Company has not accrued any amounts in its condensed interim consolidated financial statements with respect to this claim. Legacy investment claim under the North American Free Trade Agreement (“NAFTA”) On March 2, 2023, the Company filed a The Company has engaged Boies Schiller Flexner (UK) LLP as its legal advisers on the legacy NAFTA claim. To support the legacy NAFTA claim, the Company engaged an arbitration consultant, who, upon a successful arbitration ruling, is to receive an arbitration fee amounting to 6% of the net amount of the award by ICSID less all associated direct costs incurred by the Company. Valdez Case On February 15, 2016, Messrs. Jaime Valdez Farias and Maria Asuncion Perez Alonso (collectively, “Valdez”) filed an action before the Local First Civil Court of Torreon, State of Coahuila, Mexico, against the Company’s subsidiary, Minera Metalin, claiming that Minera Metalin had breached an agreement regarding the development of the Sierra Mojada Property. Valdez sought payment in the amount of $5.9 million for the alleged breach of the agreement. On April 28, 2016, Minera Metalin filed its response to the complaint, asserting various defenses, including that Minera Metalin terminated the agreement before the payment obligations arose and that certain conditions precedent to such payment obligations were never satisfied by Valdez. The Company and the Company’s Mexican legal counsel asserted all applicable defenses. In May 2017, a final judgment was entered finding for the Company, the defendant, acquitting the Company of all of the plaintiff’s claims and demands. However, due to a technicality in an early procedural act, Valdez was allowed to, and did, challenge the judgment before a local Appeals Court. On October 1, 2020, the Appeals Court entered a resolution overturning the previous judgment and entering a resolution in favor of Valdez in the amount of $5 million, plus court costs. In November 2020, the judgment of the Appeals Court was timely challenged by the Company by means of an “Amparo” lawsuit (Constitutional protection) before a Federal Circuit Court. In June 2021, the Federal Circuit Court ruled in favour of the plaintiff. The Company believes these judgments are contrary to applicable law. The plaintiff initiated proceedings to enforce the Appeals Court resolution, and the Company has offered a mining concession as a payment in full to terminate this controversy definitively. The Company believes the likelihood of the plaintiff succeeding in collecting any amount on this claim is remote, as such the Company has not accrued any amounts in its condensed interim From time to time, the Company is involved in other disputes, claims, proceedings and legal actions arising in the ordinary course of business. The Company intends to vigorously defend all claims against the Company and pursue its full legal rights in cases where the Company has been harmed. Although the ultimate outcome of these proceedings cannot be accurately predicted due to the inherent uncertainty of litigation, in the opinion of management, based upon current information, no other currently pending or overtly threatened proceeding is expected to have a material adverse effect on the Company’s business, financial condition or results of operations.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Apr. 30, 2023
Segment Information Disclosure [Abstract]
SEGMENT INFORMATION	NOTE 15 – SEGMENT INFORMATION The Company operates in a single reportable segment: the exploration of mineral property interests. The Company has mineral property interests in Sierra Mojada, Mexico. Geographic information is approximately For the Three Months Ended For the Six Months Ended April 30, April 30, 2023 2022 2023 2022 Mexico (55,000 ) $ (2,117,000 ) $ (211,000 ) $ (2,231,000 ) Canada (423,000 ) (431,000 ) (613,000 ) (647,000 ) Net Loss (478,000 ) $ (2,548,000 ) $ (824,000 ) $ (2,878,000 ) The following table details the allocation of assets included in the accompanying balance sheet at April 30, 2023: Canada Mexico Total Cash and cash equivalents $ 498,000 $ — $ 498,000 Other receivables 6,000 — 6,000 Prepaid expenses and deposits 30,000 5,000 35,000 Due from related party 3,000 — 3,000 Value-added tax receivable, net — 135,000 135,000 Office and mining equipment, net — 136,000 136,000 Property concessions — 5,004,000 5,004,000 $ 537,000 $ 5,280,000 $ 5,817,000 The following table details the allocation of assets included in the accompanying balance sheet at October 31, 2022: Canada Mexico Total Cash and cash equivalents $ 876,000 $ 11,000 $ 887,000 Value-added tax receivable, net — 127,000 127,000 Other receivables 3,000 — 3,000 Prepaid expenses and deposits 45,000 4,000 49,000 Due from related party 23,000 — 23,000 Office and mining equipment, net — 144,000 144,000 Property concessions — 5,020,000 5,020,000 $ 947,000 $ 5,306,000 $ 6,253,000 The Company has significant assets in Coahuila, Mexico. Although Mexico is generally considered economically stable, unanticipated events in Mexico, such as the blockade, can, and may in the future, disrupt the Company’s operations. The Mexican government does not require foreign entities to maintain cash reserves in Mexico.

VALUE-ADDED TAX RECEIVABLE (Tab

VALUE-ADDED TAX RECEIVABLE (Tables)	6 Months Ended
	Apr. 30, 2023
Value-Added Tax Receivable [Abstract]
Schedule of the changes in the allowance for uncollectible VAT	Allowance for uncollectible VAT – October 31, 2022 $ 449,219 Provision for VAT receivable allowance 10,434 Foreign currency translation adjustment 46,658 Allowance for uncollectible VAT – April 30, 2023 $ 506,311

OFFICE AND MINING EQUIPMENT (Ta

OFFICE AND MINING EQUIPMENT (Tables)	6 Months Ended
	Apr. 30, 2023
Office and Mining Equipment [Abstract]
Schedule of office and mining equipment	April 30, October 31, 2023 2022 Mining equipment $ 396,153 $ 396,153 Vehicles 92,873 92,873 Buildings and structures 185,724 185,724 Computer equipment and software 74,236 74,236 Well equipment 39,637 39,637 Office equipment 47,597 47,597 836,220 836,220 Less: Accumulated depreciation (699,990 ) (692,652 ) Office and mining equipment, net $ 136,230 $ 143,568

PROPERTY CONCESSIONS (Tables)

PROPERTY CONCESSIONS (Tables)	6 Months Ended
	Apr. 30, 2023
Schedule of property concessions [Abstract]
Schedule of property concessions	Property concessions – October 31, 2022 $ 5,019,927 Impairment (15,541 ) Property concessions – April 30, 2023 $ 5,004,386

LOAN PAYABLE (Tables)

LOAN PAYABLE (Tables)	6 Months Ended
	Apr. 30, 2023
Loan Payable [Abstract]
Schedule of loan payable	Loan payable – October 31, 2022 $ 43,959 Foreign currency translation adjustment 230 Loan payable – April 30, 2023 $ 44,189

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	6 Months Ended
	Apr. 30, 2023
STOCK OPTIONS [Abstract]
Schedule of summary of the range of assumptions used to value stock options granted	Six Months Ended April 30, Options 2023 2022 Expected volatility 74% – 81% 81% – 87% Risk-free interest rate 3.83% – 3.96% 1.60% – 1.74% Dividend yield — — Expected term (in years) 2.50 – 3.50 2.50 – 3.50
Schedule of summary of the range of assumptions used to value stock options granted	Options Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding at October 31, 2022 3,193,750 $ 0.25 4.25 $ — Granted 150,000 0.14 Cancelled (300,000 ) 0.24 Expired (43,750 ) 1.27 Outstanding at April 30, 2023 3,000,000 0.23 3.14 — Exercisable at April 30, 2023 2,150,000 $ 0.23 2.83 $ —
Schedule of summarized information about stock options outstanding and exercisable	Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.24 2,850,000 3.05 $ 0.24 2,100,000 $ 0.24 0.14 150,000 4.87 0.14 50,000 0.14

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Apr. 30, 2023
WARRANTS [Abstract]
Schedule of warrant activity	Warrants Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding and exercisable at October 31, 2022 1,971,289 $ 0.59 2.99 $ — Outstanding and exercisable at April 30, 2023* 1,971,289 0.59 2.50 — * Pursuant to the terms of the Separation and Distribution Agreement, dated as of August 31, 2021, between Silver Bull and Arras entered into in connection with the Distribution (Note 1), 1,971,289 warrants with a weighted average exercise price of $0.59 are exercisable into one share of common stock of the Company and one common share of Arras. The Company will receive $0.34 of the proceeds from the exercise of each of these warrants and the remaining proceeds will be paid to Arras.
Schedule of warrants outstanding and exercisable	Warrants Outstanding and Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price $ 0.59 1,971,289 2.50 $ 0.59

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Apr. 30, 2023
Segment Information [Abstract]
Schedule of geographic information	For the Three Months Ended For the Six Months Ended April 30, April 30, 2023 2022 2023 2022 Mexico (55,000 ) $ (2,117,000 ) $ (211,000 ) $ (2,231,000 ) Canada (423,000 ) (431,000 ) (613,000 ) (647,000 ) Net Loss (478,000 ) $ (2,548,000 ) $ (824,000 ) $ (2,878,000 )
Schedule of the allocation of assets by segment	Canada Mexico Total Cash and cash equivalents $ 498,000 $ — $ 498,000 Other receivables 6,000 — 6,000 Prepaid expenses and deposits 30,000 5,000 35,000 Due from related party 3,000 — 3,000 Value-added tax receivable, net — 135,000 135,000 Office and mining equipment, net — 136,000 136,000 Property concessions — 5,004,000 5,004,000 $ 537,000 $ 5,280,000 $ 5,817,000 Canada Mexico Total Cash and cash equivalents $ 876,000 $ 11,000 $ 887,000 Value-added tax receivable, net — 127,000 127,000 Other receivables 3,000 — 3,000 Prepaid expenses and deposits 45,000 4,000 49,000 Due from related party 23,000 — 23,000 Office and mining equipment, net — 144,000 144,000 Property concessions — 5,020,000 5,020,000 $ 947,000 $ 5,306,000 $ 6,253,000

ORGANIZATION, DESCRIPTION OF _2

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details)

1 Months Ended

3 Months Ended

6 Months Ended

Jan. 01, 2018

Sep. 24, 2021 shares

Mar. 19, 2021 shares

Apr. 30, 2023 USD ($) shares

Apr. 30, 2022 shares

Apr. 30, 2023 USD ($) shares

Apr. 30, 2022 shares

Mar. 09, 2023 shares

Aug. 31, 2022 $ / shares

Jun. 30, 2022 $ / shares shares

Feb. 17, 2022 shares

Dec. 31, 2021 $ / shares shares

Aug. 12, 2020

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details) [Line Items]

Percentage of purchase shares

70%

Paymen amount (in Dollars) | $

$ 518,000

Common shares

625,000

852,262

507,814

Common shares of Arras at a price (in Dollars per share) | (per share)

$ 0.59

$ 1

Common shares of Arras at a price (in Dollars per share) | $ / shares

$ 1.5

Accumulated deficit (in Dollars) | $

$ 138,218,000

138,218,000

Cash and cash equivalents (in Dollars) | $

$ 498,000

$ 498,000

Common Stock [Member]

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details) [Line Items]

Stock issued during period, shares

625,000

507,814

625,000

507,814

Common shares

600,000

Beskauga Property [Member]

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details) [Line Items]

Ownership interest acquired

100%

Stock issued during period, shares

36,000,000

Arras [Member]

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details) [Line Items]

Stock issued during period, shares

34,547,838

Company Retained [Member]

ORGANIZATION, DESCRIPTION OF BUSINESS AND GOING CONCERN (Details) [Line Items]

Stock issued during period, shares

1,452,162

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - shares	Apr. 30, 2023	Apr. 30, 2022
Earnings Per Share [Abstract]
Shares exercise	4,971,289	5,215,039

DUE FROM RELATED PARTY (Details

DUE FROM RELATED PARTY (Details) - USD ($)		6 Months Ended
	Oct. 31, 2022	Apr. 30, 2023
Due from Related Party [Abstract]
Due from related party	$ 23,196	$ 2,428

VALUE-ADDED TAX RECEIVABLE (Det

VALUE-ADDED TAX RECEIVABLE (Details) - USD ($)	Apr. 30, 2023	Oct. 31, 2022
Mexico [Member]
VALUE-ADDED TAX RECEIVABLE (Details) [Line Items]
Value-added tax	$ 134,639	$ 127,036

VALUE-ADDED TAX RECEIVABLE (D_2

VALUE-ADDED TAX RECEIVABLE (Details) - Schedule of the changes in the allowance for uncollectible VAT	6 Months Ended
	Apr. 30, 2023 USD ($)
Schedule of the changes in the allowance for uncollectible VAT [Abstract]
Allowance for uncollectible VAT, Beginning	$ 449,219
Provision for VAT receivable allowance	10,434
Foreign currency translation adjustment	46,658
Allowance for uncollectible VAT, Ending	$ 506,311

OFFICE AND MINING EQUIPMENT (De

OFFICE AND MINING EQUIPMENT (Details) - Schedule of office and mining equipment - USD ($)	Apr. 30, 2023	Oct. 31, 2022
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	$ 836,220	$ 836,220
Less: Accumulated depreciation	(699,990)	(692,652)
Office and mining equipment, net	136,230	143,568
Mining equipment [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	396,153	396,153
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	92,873	92,873
Buildings and structures [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	185,724	185,724
Computer equipment and software [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	74,236	74,236
Well equipment [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	39,637	39,637
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Office and mining equipment, gross	$ 47,597	$ 47,597

PROPERTY CONCESSIONS (Details)

PROPERTY CONCESSIONS (Details)	6 Months Ended
	Apr. 30, 2023 USD ($)
Schedule of property concessions [Abstract]
Property concessions
Capitalized property	$ 15,541

PROPERTY CONCESSIONS (Details)

PROPERTY CONCESSIONS (Details) - Schedule of property concessions	6 Months Ended
	Apr. 30, 2023 USD ($)
Schedule Of Property Concessions Abstract
Property concessions – October 31, 2022	$ 5,019,927
Impairment	(15,541)
Property concessions – April 30, 2023	$ 5,004,386

LOAN PAYABLE (Details)

LOAN PAYABLE (Details)	1 Months Ended
	Jan. 31, 2022	Jan. 31, 2021 CAD ($)	Jun. 30, 2020 CAD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2021 CAD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2020 CAD ($)
LOAN PAYABLE (Details) [Line Items]
Loan received				$ 15,615		$ 29,531
Maturity date		Dec. 31, 2022
CEBA Loan [Member]
LOAN PAYABLE (Details) [Line Items]
Loan received					$ 20,000		$ 40,000
Maturity date	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022
Repayment under initial term		$ 60,000	$ 30,000
Principal amount forgiven		$ 20,000	$ 10,000
Interest rate		5%	5%
Additional loan				50%	50%
CEBA Loan [Member] | Minimum [Member]
LOAN PAYABLE (Details) [Line Items]
Maturity date			Jan. 01, 2023
CEBA Loan [Member] | Maximum [Member]
LOAN PAYABLE (Details) [Line Items]
Maturity date			Dec. 31, 2025
Additional Loan Forgivable [Member] | CEBA Loan [Member]
LOAN PAYABLE (Details) [Line Items]
Maturity date		Dec. 31, 2025

LOAN PAYABLE (Details) - Schedu

LOAN PAYABLE (Details) - Schedule of loan payable	6 Months Ended
	Apr. 30, 2023 USD ($)
Schedule of Loan Payable [Abstract]
Loan payable beginning balance	$ 43,959
Foreign currency translation adjustment	230
Loan payable ending balance	$ 44,189

COMMON STOCK (Details)

COMMON STOCK (Details)	Mar. 09, 2023 USD ($) $ / shares shares	Mar. 09, 2023 CAD ($) shares	Jun. 30, 2022 shares	Feb. 17, 2022 USD ($) $ / shares shares	Feb. 17, 2022 CAD ($) shares
Common Stock [Abstract]
Shares of common stock | shares	625,000	625,000	852,262	507,814	507,814
Common stock per share | $ / shares	$ 0.14			$ 0.25
Payment of accrued management bonuses	$ 88,411	$ 121,875		$ 128,094	$ 162,500

STOCK OPTIONS (Details)

STOCK OPTIONS (Details) - USD ($)	6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
STOCK OPTIONS (Details) [Line Items]
Contractual term	5 years
Granted options to acquire	150,000	3,300,000
Weighted-average grant-date fair value	$ 0.07	$ 0.14
Recognized stock based compensation costs	$ 51,176	$ 197,080
Unrecognized compensation expense	$ 47,430
2019 Plan [Member]
STOCK OPTIONS (Details) [Line Items]
Total shares outstanding, percentage	10%
Grant of stock bonuses shares	15,000,000
Minimum [Member]
STOCK OPTIONS (Details) [Line Items]
Vesting period	2 years

STOCK OPTIONS (Details) - Sched

STOCK OPTIONS (Details) - Schedule of summary of the range of assumptions used to value stock options granted	6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
STOCK OPTIONS (Details) - Schedule of summary of the range of assumptions used to value stock options granted [Line Items]
Dividend yield
Minimum [Member]
STOCK OPTIONS (Details) - Schedule of summary of the range of assumptions used to value stock options granted [Line Items]
Expected volatility	74%	81%
Risk-free interest rate	3.83%	1.60%
Expected term (in years)	2 years 6 months	2 years 6 months
Maximum [Member]
STOCK OPTIONS (Details) - Schedule of summary of the range of assumptions used to value stock options granted [Line Items]
Expected volatility	81%	87%
Risk-free interest rate	3.96%	1.74%
Expected term (in years)	3 years 6 months	3 years 6 months

STOCK OPTIONS (Details) - Sch_2

STOCK OPTIONS (Details) - Schedule of summary of stock option activity	6 Months Ended
	Apr. 30, 2023 USD ($) $ / shares shares
Schedule Of Summary Of Stock Option Activity Abstract
Shares, Outstanding beginning Balance | shares	3,193,750
Weighted Average Exercise Price, Outstanding beginning Balance | $ / shares	$ 0.25
Weighted Average Remaining Contractual Life (Years), Outstanding beginning Balance	4 years 3 months
Aggregate Intrinsic Value, Outstanding beginning Balance | $
Shares, Granted | shares	150,000
Weighted Average Exercise Price, Granted | $ / shares	$ 0.14
Shares, Cancelled | shares	(300,000)
Weighted Average Exercise Price, Cancelled | $ / shares	$ 0.24
Shares, Expired | shares	(43,750)
Weighted Average Exercise Price, Expired | $ / shares	$ 1.27
Shares, Outstanding closing balance | shares	3,000,000
Weighted Average Exercise Price, Outstanding closing balance | $ / shares	$ 0.23
Weighted Average Remaining Contractual Life (Years), Outstanding closing balance	3 years 1 month 20 days
Aggregate Intrinsic Value, Outstanding closing balance | $
Shares, Exercisable | shares	2,150,000
Weighted Average Exercise Price, Exercisable | $ / shares	$ 0.23
Weighted Average Remaining Contractual Life (Years), Exercisable	2 years 9 months 29 days
Aggregate Intrinsic Value, Exercisable | $

STOCK OPTIONS (Details) - Sch_3

STOCK OPTIONS (Details) - Schedule of summarized information about stock options outstanding and exercisable	6 Months Ended
	Apr. 30, 2023 $ / shares shares
0.24 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding, Exercise Price	$ 0.24
Options Outstanding, Number Outstanding (in Shares) | shares	2,850,000
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	3 years 18 days
Options Outstanding, Weighted Average Exercise Price (in Shares) | shares	2,100,000
Options Exercisable, Number Exercisable	$ 0.24
Options Exercisable, Weighted Average Exercise Price	0.24
0.14 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding, Exercise Price	$ 0.14
Options Outstanding, Number Outstanding (in Shares) | shares	150,000
Options Outstanding, Weighted Average Remaining Contractual Life (Years)	4 years 10 months 13 days
Options Outstanding, Weighted Average Exercise Price (in Shares) | shares	50,000
Options Exercisable, Number Exercisable	$ 0.14
Options Exercisable, Weighted Average Exercise Price	$ 0.14

WARRANTS (Details)

WARRANTS (Details)	1 Months Ended
	Aug. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares
WARRANTS (Details) [Line Items]
Weighted average exercise price | (per share)	$ 0.59	$ 1
Private Placement [Member]
WARRANTS (Details) [Line Items]
Number of warrants issued (in Shares) | shares	1,971,289
Warrant [Member]
WARRANTS (Details) [Line Items]
Weighted average exercise price | $ / shares	$ 0.34

WARRANTS (Details) - Schedule o

WARRANTS (Details) - Schedule of warrant activity - Warrant [Member] - USD ($)	6 Months Ended		12 Months Ended
	Apr. 30, 2023	[1]	Oct. 31, 2022
Schedule of Warrant Activity [Abstract]
Shares	1,971,289		1,971,289
Weighted Average Exercise Price	$ 0.59		$ 0.59
Weighted Average Remaining Contractual Life (Years)	2 years 6 months		2 years 11 months 26 days
Aggregate Intrinsic Value
[1]Pursuant to the terms of the Separation and Distribution Agreement, dated as of August 31, 2021, between Silver Bull and Arras entered into in connection with the Distribution (Note 1), 1,971,289 warrants with a weighted average exercise price of $0.59 are exercisable into one share of common stock of the Company and one common share of Arras. The Company will receive $0.34 of the proceeds from the exercise of each of these warrants and the remaining proceeds will be paid to Arras.

WARRANTS (Details) - Schedule_2

WARRANTS (Details) - Schedule of warrants outstanding and exercisable	6 Months Ended
	Apr. 30, 2023 $ / shares shares
Schedule of Warrants Outstanding and Exercisable [Abstract]
Exercise Price	$ 0.59
Number Outstanding (in Shares) | shares	1,971,289
Weighted Average Remaining Contractual Life (Years)	2 years 6 months
Weighted Average Exercise Price	$ 0.59

FINANCIAL INSTRUMENTS (Details)

FINANCIAL INSTRUMENTS (Details)	6 Months Ended
	Apr. 30, 2023 USD ($)	Apr. 30, 2023 CAD ($)	Feb. 28, 2023 USD ($)	Feb. 28, 2023 MXN ($)	Oct. 31, 2022 USD ($)
FINANCIAL INSTRUMENTS (Details) [Line Items]
Canada deposit insurance corporation amount (in Dollars)		$ 100,000
Cash balances not insured					$ 10,702
Cash balance			$ 19,355	$ 349,884
Cash and cash equivalents	224,186				369,551
Working capital	92,656
Cash and cash equivalents	$ 497,783				886,728
Interest rate	1%
Reduction interest income amount	$ 2,771
Net exposure description	Based on the net exposures as at April 30, 2023, a 5% depreciation or appreciation of the $CDN and $MXN against the US dollar would result in an increase and decrease, respectively, of approximately $5,000 in the Company’s net income.	Based on the net exposures as at April 30, 2023, a 5% depreciation or appreciation of the $CDN and $MXN against the US dollar would result in an increase and decrease, respectively, of approximately $5,000 in the Company’s net income.
CDN [Member]
FINANCIAL INSTRUMENTS (Details) [Line Items]
Cash balances not insured	$ 423,968				$ 802,761

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Apr. 30, 2023	Oct. 01, 2020	Feb. 15, 2016	May 20, 2014
Commitments and Contingencies [Abstract]
Net smelter return royalty	2%
Total payments	$ 6,875
Interest rate per annum				6%
Net amount percentage	6%
Agreement payment amount		$ 5,000	$ 5,900

SEGMENT INFORMATION (Details) -

SEGMENT INFORMATION (Details) - Schedule of geographic information - USD ($)	3 Months Ended		6 Months Ended
	Apr. 30, 2023	Apr. 30, 2022	Apr. 30, 2023	Apr. 30, 2022
SEGMENT INFORMATION (Details) - Schedule of geographic information [Line Items]
Net loss	$ (478,000)	$ (2,548,000)	$ (824,000)	$ (2,878,000)
Mexico [Member]
SEGMENT INFORMATION (Details) - Schedule of geographic information [Line Items]
Net loss	(55,000)	(2,117,000)	(211,000)	(2,231,000)
Canada [Member]
SEGMENT INFORMATION (Details) - Schedule of geographic information [Line Items]
Net loss	$ (423,000)	$ (431,000)	$ (613,000)	$ (647,000)

SEGMENT INFORMATION (Details)_2

SEGMENT INFORMATION (Details) - Schedule of the allocation of assets by segment - USD ($)	Apr. 30, 2023	Oct. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	$ 498,000	$ 887,000
Other receivables	6,000	3,000
Prepaid expenses and deposits	35,000	49,000
Due from related party	3,000	23,000
Value-added tax receivable, net	135,000	127,000
Office and mining equipment, net	136,000	144,000
Property concessions	5,004,000	5,020,000
Total	5,817,000	6,253,000
Canada [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents	498,000	876,000
Other receivables	6,000	3,000
Prepaid expenses and deposits	30,000	45,000
Due from related party	3,000	23,000
Value-added tax receivable, net
Office and mining equipment, net
Property concessions
Total	537,000	947,000
Mexico [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Cash and cash equivalents		11,000
Other receivables
Prepaid expenses and deposits	5,000	4,000
Due from related party
Value-added tax receivable, net	135,000	127,000
Office and mining equipment, net	136,000	144,000
Property concessions	5,004,000	5,020,000
Total	$ 5,280,000	$ 5,306,000