Patriot Gold (PGOL) 10-K 29 Aug 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	May 31, 2019	Aug. 29, 2019	Nov. 30, 2018
Document and Entity Information
Entity Registrant Name	PATRIOT GOLD CORP
Document Type	10-K
Document Period End Date	May 31, 2019
Amendment Flag	false
Entity Central Index Key	0001080448
Current Fiscal Year End Date	--05-31
Entity Common Stock, Shares Outstanding		74,280,354
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Public Float			$ 3,046,932
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth	false
Entity Ex Transition Period	false
Entity Interactive Data Current	Yes
Entity File Number	000-32919
Entity Incorporation State	NV

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	May 31, 2019	May 31, 2018
Current assets
Cash	$ 113,350	$ 384,768
Marketable securities	112,272	333,620
GST receivables	108	0
Other receivables	290,108	46,504
Prepaid expenses	184,833	0
Total current assets	700,671	764,892
Long-term assets:
Royalty interest	300,000	0
Note receivable	705,000	0
Total long-term assets	1,005,000	0
Total assets	1,705,671	764,892
Current liabilities
Accounts payable and accrued liabilities	94,642	53,056
Accounts payable and accrued liabilities - related parties	138,434	0
Total current liabilities	233,076	53,056
Commitments and contingencies
Stockholders' equity:
Common stock, par value $.001; 100,000,000 shares authorized; 74,280,354 and 58,408,854 shares issued and outstanding at May 31, 2019 and 2018, respectively	74,280	58,409
Treasury stock (100,000 shares)	(9,093)	(9,093)
Additional paid in capital	29,842,129	28,815,798
Accumulated other comprehensive income	(16,361)	(16,361)
Accumulated deficit	(28,418,650)	(28,137,207)
Total stockholders' equity	1,472,595	711,836
Total liabilities and stockholders' equity	1,705,671	764,892
Preferred Stock [Member]
Stockholders' equity:
Preferred stock value	0	0
Preferred Stock Series A [Member]
Stockholders' equity:
Preferred stock value	$ 290	$ 290

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 31, 2019	May 31, 2018
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	74,280,354	58,408,854
Common Stock, shares outstanding	74,280,354	58,408,854
Preferred Stock [Member]
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	6,500,000	6,500,000
Preferred Stock, shares issued	0	0
Common Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock Series A [Member]
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	13,500,000	13,500,000
Preferred Stock, shares issued	290,000	290,000
Common Stock, par or stated value	$ 290,000	$ 290,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Income Statement [Abstract]
Revenues	$ 864,779	$ 46,504
Expenses
Mineral costs	423,716	62,804
Consulting expense	254,760	237,667
Stock based compensation	125,202	374,424
Director Fees	87,500	0
General and administrative	104,955	134,253
Total operating expense	996,133	809,148
Net loss from operations	(131,354)	(762,644)
Other income (expense)
Unrealized holding gain (loss) on marketable securities	(148,295)	(302,345)
Currency exchange	(3,916)	(493)
Realized loss on sale of marketable securities	(14,418)	0
Other miscellaneous income	12,336	0
Total other income (expense)	(150,090)	(302,838)
Net loss	$ (281,443)	$ (1,065,482)
Earnings per share - basic and diluted
Income (loss) per common share - basic	$ (0.01)	$ (0.02)
Income (loss) per common share - diluted	$ (0.01)	$ (0.02)
Weighted average shares outstanding - Basic	60,500,206	56,379,402
Weighted average shares outstanding - Diluted	60,500,206	56,379,402

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Preferred Stock	Preferred Stock Series A [Member]	Common Stock	Treasury Stock	Additional Paid-In Capital	Other Comprehensive Income / Loss	Retained Deficit	Total
Beginning balance, shares at May. 31, 2017	0	0	55,877,604	0
Beginning balance, value at May. 31, 2017	$ 0	$ 0	$ 55,878	$ 0	$ 28,429,695	$ (16,361)	$ (27,071,725)	$ 1,397,487
Common stock option grants					273,185			273,185
Sale of preferred stock, shares		290,000
Sale of preferred stock, value		$ 290			14,210			14,500
Issuance of restricted common stock, shares			2,531,250
Issuance of restricted common stock, value			$ 2,531		98,708			101,239
Treasury stock				(9,093)				(9,093)
Net loss							(1,065,482)	(1,065,482)
Ending balance, shares at May. 31, 2018	0	290,000	58,408,854
Ending balance, value at May. 31, 2018	$ 0	$ 290	$ 58,409	(9,093)	28,815,798	(16,361)	(28,137,207)	711,836
Exercise of warrants, shares			8,000,000
Exercise of warrants, value			$ 8,000		697,000			705,000
Common stock option grants								273,185
Exercise of stock options, shares			20,000
Exercise of stock options, value			$ 20		1,980			2,000
Issuance of restricted common stock, shares			7,851,500
Issuance of restricted common stock, value			$ 7,851		306,209			316,060
Treasury stock								(9,093)
Vesting of stock options					21,142			21,142
Net loss							(281,443)	(281,443)
Ending balance, shares at May. 31, 2019	0	290,000	74,280,354
Ending balance, value at May. 31, 2019	$ 0	$ 290	$ 74,280	$ (9,093)	$ 29,842,129	$ (16,361)	$ (28,418,650)	$ 1,472,595

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Statement of Cash Flows [Abstract]
Net loss	$ (281,443)	$ (1,065,482)
Adjustments to reconcile net loss to net cash used in operating activities:
Compensation expense of stock options	21,142	273,185
Restricted common stock issued for services	174,060	101,239
Fair value adjustment for marketable securities	148,295	302,345
Change in operating assets and liabilities:
Other receivables	(243,604)	(46,504)
Prepaid expenses	(44,833)	3,343
GST receivable	(108)	0
Accounts payable and accrued liabilities	41,586	31,959
Accounts payable and accrued liabilities - related parties	138,434	0
Net cash flows from operating activities	(46,471)	(399,915)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of royalty interest	(300,000)	0
Proceeds from the sale of marketable securities	73,053	0
Purchase of marketable securities	0	(197,442)
Net cash flows from investing activities	(226,947)	(197,442)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of stock options	2,000	0
Proceeds from sale of preferred stock	0	14,500
Purchase of treasury stock	0	(9,093)
Net cash flows from financing activities	2,000	5,407
Net decrease in cash	(271,418)	(591,950)
Cash, beginning of period	384,768	976,718
Cash, end of period	113,350	384,768
SUPPLEMENTAL DISCLOSURE OF CASH PAID FOR:
Interest	0	0
Income taxes	0	0
NON-CASH FINANCING ACTIVITIES:
Exercise of warrants in exchange for note receivable	705,000	0
Issuance of restricted stock for prepaid director fees	$ 180,833	$ 0

1. NATURE OF BUSINESS AND OPERA

1. NATURE OF BUSINESS AND OPERATIONS	12 Months Ended
	May 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND OPERATIONS	NOTE 1 - NATURE OF BUSINESS AND OPERATIONS Patriot Gold Corp. (“Company”) was incorporated in the State of Nevada on November 30, 1998. The Company is engaged in natural resource exploration and anticipates acquiring, exploring, and developing natural resource properties. Currently the Company is undertaking programs in Arizona and Nevada. The Company’s common stock trades on the Canadian Securities Exchange under the symbol PGOL, and also on the Over-The-Counter (“OTCQB”) market under the symbol PGOL. On May 23, 2017, the Company caused the incorporation of its wholly owned subsidiary, Patriot Gold Canada Corp (“Patriot Canada”), under the laws of British Columbia, Canada. On April 16, 2010, the Company caused the incorporation of its wholly owned subsidiary, Provex Resources, Inc., (“Provex”) under the laws of Nevada. Effective May 7, 2018, Provex’s name was changed to Goldbase, Inc. (“Goldbase”).

2. SIGNIFICANT ACCOUNTING POLIC

2. SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Goldbase and Patriot Canada. Collectively, they are referred to herein as “the Company”. Inter-company accounts and transactions have been eliminated. Management’s Estimates and Assumptions The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that all applicable estimates and adjustments are appropriate. Actual results could differ from those estimates. Going Concern Management believes they will have sufficient funds to support their business based on the following: (a) revenues derived from the Moss royalty, given the Moss mine is now in production; (b) the Company's marketable securities are relatively liquid; (c) the Company believes it can raise additional funds if needed to support our business plan, although there can be no assurance that the Company can raise any additional funds, or if it can, that such funds will be on terms acceptable to the Company. Exploration and Development Costs Mineral exploration costs and payments related to the acquisition of the mineral rights are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to acquire and develop such property will be capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. No costs have been capitalized through May 31, 2019. Cash and Cash Equivalents The Company considers all investment instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. The Company has no cash equivalents as of May 31, 2019 and 2018. Marketable Securities Investment securities are classified in one of three categories: held to maturity, available for sale, or trading. Management determines the appropriate classification of securities at the time of purchase. Investment securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. As of May 31, 2019 and 2018, the Company has no investments in held to maturity securities. Investment securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Investment securities that are not considered to be held to maturity or trading are classified as available for sale. This type of investment is stated at fair value with unrealized gains and losses, net of tax, reported in a separate component of shareholders' equity (“accumulated other comprehensive income”). Gains and losses from sales of investments classified as available for sale are determined using the specific identification method. As of May 31, 2019 and 2018, the Company has no investments classified as available for sale. The Company’s short-term marketable securities classified as trading securities are comprised of Northern Vertex Mining Corp. and Strata Power Corporation (“Strata”) stock. The Company acquired the Northern Vertex stock on May 26, 2016 as part of the Moss Property sale. The Company purchased Strata common stock through multiple private placement offerings during the year ended May 31, 2018 as an investment in lithium mining extraction technologies. Reclamation Deposits Various mining laws and permits require that financial assurances be in place for certain environmental and reclamation obligations. Accordingly, the Company pays cash bonds to the Bureau of Land Management (“BLM”) upon acquisition of mining rights for estimated potential reclamation obligations. Any residual funds after reclamation obligations have been paid, are refunded to the Company. Upon payment of a cash bond, the Company recognizes a reclamation deposit as a long-term asset on its Consolidated Balance Sheets. As of May 31, 2019, and 2018, there were no reclamation deposits recorded. Foreign Currency Translation The Company’s functional currency and reporting currency is the U.S. dollar. Monetary items denominated in foreign currency are translated to U.S. dollars at exchange rates in effect at the balance sheet date and non-monetary items are translated at rates in effect when the assets were acquired, or obligations incurred. Revenue and expenses are translated at rates in effect at the time of the transactions. Foreign exchange gains and losses are included in the consolidated statements of operations. Concentration of Credit Risk The Company has no off-balance-sheet concentrations of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. The Company maintains the majority of its cash balances with two financial institutions in the form of demand deposits. Income/Loss per Share Basic earnings per share is computed by dividing the net income by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares plus dilutive potential common shares outstanding during the period. As of May 31, 2019, and 2018, all of the outstanding stock options and warrants were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s loss from continuing operations. Comprehensive Income Comprehensive income consists of net income and other gains and losses affecting shareholders’ equity that, under generally accepted accounting principles, are excluded from net income. For the Company, such items consist primarily of foreign currency translation gains and losses. Accumulated other comprehensive income at May 31, 2019 and 2018, consists of foreign currency adjustments related to the Company changing its functional currency from Canadian to U.S. dollar in 2003. Stock Options The Company measures all employee stock-based compensation awards using a fair value method on the date of grant and recognizes such expense in its consolidated financial statements over the requisite service period. The Company uses the Black-Scholes pricing model to determine the fair value of stock-based compensation awards on the date of grant. The Black-Scholes pricing model requires management to make assumptions regarding option lives, expected volatility, and risk-free interest rates. The Company accounts for non-employee stock-based awards in accordance with the Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): The Company uses the Black-Scholes pricing model to determine the fair value of stock-based compensation awards. The Black-Scholes pricing model requires management to make assumptions regarding option lives, expected volatility, and risk-free interest rates. Stock-based Compensation We account for equity-based transactions with nonemployees awards in accordance with the Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): We account for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock Compensation, The Company has granted Restricted Common Stock, where the Restricted Common Stock is restricted for a period of three years following the date of grant. During the three-year period the recipient may not sell or otherwise dispose of the shares. The Company has applied a discount for illiquidity to the price of the Company’s stock when determining the amount of expense to be recorded for the Restricted Common Stock issuance. The discount for illiquidity for the Restricted Common Stock was estimated on the date of grant by taking the average close price of the freely traded common shares for the period in which the services were provided, and applying an illiquidity discount of 10% for each multiple that the total Restricted Common Stock is of the average daily volume for the period, to a maximum of 50%. Fair Value of Financial Instruments The carrying value of the Company's financial instruments, including prepaids, accounts payable and accrued liabilities, at May 31, 2019 and 2018 approximates their fair values due to the short-term nature of these financial instruments. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. The Company carries other company’s equity instruments at fair value as required by U.S. GAAP, which are valued using level 1 inputs under the fair value hierarchy. In general, investments with original maturities of greater than 90 days and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year may also be classified as short-term based on their highly liquid nature and can be sold to fund current operations. Fair Value Hierarchy Fair value is defined within the accounting rules as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The rules established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. As presented in the tables below, this hierarchy consists of three broad levels: Level 1 Level 2. Level 3 Assets measured at fair value on a recurring basis by level within the fair value hierarchy are as follows: Fair Value Measurement at Fair Value Measurement at May 31, 2019 May 31, 2018 Using Total Using Total Assets: Marketable securities $ 112,272 $ 112,272 $ 333,620 $ 333,620 Transactions measured at fair value on a non-recurring basis by level within the fair value hierarchy are as follows: Fair Value Measurement at Fair Value Measurement at May 31, 2019 May 31, 2018 Using Total Using Total Issuance of restricted shares $ 314,060 $ 314,060 $ 101,250 $ 101,250 Related Party Transactions A related party is generally defined as (i) any person who holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) an entity or person who directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Income Taxes The Company follow ASC 740-10-30, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period that includes the enactment date. The Company adopted ASC 740-10-25 (“ASC 740-10-25”) with regard to uncertainty of income tax positions. ASC 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740-10-25 also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. We had no material adjustments to our liabilities for unrecognized income tax benefits according to the provisions of ASC 740-10-25. New Accounting Pronouncements On June 1, 2018, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 606, Revenue from Contracts with Customers 1. I dentify the contract with the customer. The contract with Golden Vertex is documented in the Purchase and Sale Agreement dated 5/12/16 and the Royalty Deed dated 5/25/16. 2. Identify the performance obligations in the contract. The performance obligation in the contract required Patriot to relinquish its 30% interest in the Moss gold/silver mine. The Company conveyed all of its right, title and interest in those certain patented and unpatented lode mining claims situated in the Oatman Mining District, Mohave County, Arizona together with all extralateral and other associated rights, water rights, tenements, hereditaments and appurtenances belonging or appertaining thereto, and all rights-of-way, easements, rights of access and ingress to and egress from the claims appurtenant thereto, and in which the Company had any interest. 3. Determine the transaction price. The transaction price was C$1,500,000 plus 3% of the Net Smelter Returns on the future production of the Moss mine. See Note 3 for definition of Net Smelter Returns. 4. Allocate the transaction price to the performance obligations in the contract. The Company only has one performance obligation, the transfer of the rights to the Moss mine, which has already been fulfilled. 5. Recognize revenue when (or as) the entity satisfies a performance obligation. The C$1,500,000 was recognized as a sale of the mining rights in 2016, resulting in a gain from the disposition of the property. The 3% net smelter returns royalty will be recognized as revenue in the period that Golden Vertex produces and sells minerals from the Moss mine, which began in March 2018. The royalties that have been received to date have been highly variable, as the amounts are dependent upon the monthly production, the demand of the buyers, the spot price of gold and silver, the costs associated with refining and transporting the product, etc. As such, management has determined that the revenue recognition shall be treated as variable consideration as defined in ASC 606. Variable consideration should only be recognized to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Given the fact that royalties to date have been highly variable with a great degree of uncertainty, and any attempts to estimate future revenue would likely result in a significant reversal of revenue, royalty revenue will be recognized when payments and settlement statements are received from Golden Vertex, in the period for which the sales were made by Golden Vertex. It is at that time that any uncertainty related to royalty payments is resolved. The Company applied ASC 606 using the modified retrospective method applied to contracts not yet completed as of the date of adoption and resulted in the recognition of $46,504 during the year ended May 31, 2018. On June 20, 2018, the FASB issued Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In May 2017, the FASB issued ASU 2017-09 which clarifies when changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Under the new guidance, modification accounting is only required if the fair value, vesting conditions or classification (equity or liability) of the new award are different from the original award immediately before the original award is modified. The standard is effective for the Company on June 1, 2018, with early adoption permitted. The new guidance must be applied prospectively to awards modified on or after the adoption date. The future impact of ASU 2017-09 will be dependent on the nature of future stock award modifications, however no significant impact is expected. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” The pronouncement revises the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The guidance is effective for the Company beginning in the first quarter of fiscal year 2021 with early adoption permitted. The Company is currently evaluating the potential impact of this guidance on it consolidated financial statements. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

3. MINERAL PROPERTIES

3. MINERAL PROPERTIES	12 Months Ended
	May 31, 2019
Extractive Industries [Abstract]
MINERAL PROPERTIES	NOTE 3 - MINERAL PROPERTIES Bruner and Vernal Properties On May 28, 2010 the Company entered into an exclusive right and option agreement with Canamex Resources Corp. (“Canamex”) whereby Canamex could earn a 70% (or up to 75% if a bankable feasibility study is performed) undivided interest in the Bruner, and Bruner Expansion properties, herein after collectively referred to as the “Bruner Properties”. Upon the completion of the terms of the Agreement by Canamex, and upon earning its initial interest, the parties agreed to negotiate a definitive joint venture agreement in good faith to supersede the agreement. During the first half of 2016, it was determined by the Company that Canamex had successfully earned a 70% interest in the Bruner Property according to the terms of the Bruner Option Agreement. On April 25, 2017, the Company and Canamex Resources Corp. entered into a purchase and sale agreement (“Bruner Purchase and Sale Agreement”) whereby Canamex Resources purchased Patriot Gold's 30% working interest in the Bruner gold/silver mine for US$1,000,000 cash. The Company retains a two percent net smelter return (“NSR”) royalty on the Bruner properties including any claims acquired within a two-mile area of interest around the existing claims. Additionally, Canamex has the option to buy-down half of the NSR royalty retained by Patriot for US$5 million any time during a five-year period following closing of the purchase and sale agreement. The company recognized a gain on sale of mineral properties of $1,000,000 from the sale of the Bruner in its Consolidated Statement of Operations. As of May 31, 2019, the Company has incurred approximately $89,616 of accumulated option and exploration expenses on the Vernal property. During the years ended May 31, 2019 and 2018, the Company incurred exploration expenses of $1,860 and $2,008 on the Vernal property, respectively. Moss Property On March 4, 2004 the Company signed a Letter Agreement (the “Agreement”) that earned it a 100% interest in a number of patented and unpatented mining claims known as the Moss Mine property located in the Oatman Mining District of Mohave county Arizona by paying MinQuest Inc. a one-time fee of $50,000. This $50,000 fee was paid on July 7, 2004. Subject to the terms and conditions of the Agreement, MinQuest would retain a 3% NSR on any and all production derived from the unpatented mining claims listed under the Agreement and on public lands within 1 mile of MinQuest, Inc.’s outside perimeter of the present claim boundary; a 1.0% NSR on patented claims with no other royalty within the property; and a 0.5% overriding NSR on all production within the property derived from patented claims with other royalty interests. On February 28, 2011, the Company entered into an Exploration and Option to Enter Joint Venture Agreement (the “Moss Agreement”), with Idaho State Gold Company, LLC, (“ISGC”) whereby the Company granted the option and right to earn a vested seventy percent (70%) interest in the property and the right and option to form a joint venture for the management and ownership of the properties called the Moss Property, Mohave County, Arizona. Pursuant to the Moss Agreement, ISGC paid US $500,000 upon execution, and agreed to spend an aggregate total of US $8 million on exploration and related expenditures over the next five years and subsequent to exercise the earn-in, ISGC and Patriot Gold would form a 70/30 joint venture. Under this agreement financing of future work on the property would be on a proportional basis under the direction of a management committee with voting rights proportional to ownership percentage. Either party could be diluted on the basis of a standard formula if it did not contribute to the planned programs. If either party was diluted below 10 percent, their interest would convert to a three percent NSR (net smelter return) royalty. An existing 3-3.5 percent NSR existed on the Moss Mine Property. In March, 2011, ISGC transferred its rights to the Exploration and Option Agreement dated February 28, 2011, to Northern Vertex Mining Corp. (“Northern Vertex”). On January 21, 2016, an arbitrator ruled that Northern Vertex met the required expenditures, successfully carried out pilot production, and produced a feasibility study thereby fulfilling the Exploration and Option Agreement terms entitling them to have earned an undivided 70% interest in the Moss Property. On May 12, 2016, the Company entered into a material definitive Agreement for Purchase and Sale of Mining Claims and Escrow Instructions (the “Purchase and Sale Agreement”) with Golden Vertex Corp., an Arizona corporation (“Golden Vertex,” a wholly-owned Subsidiary of Northern Vertex) whereby Golden Vertex agreed to purchase the Company’s remaining 30% working interest in the Moss Gold/Silver Mine for $1,155,600 (C$1,500,000) plus a 3% net smelter return royalty. Specifically, the Company conveyed all of its right, title and interest in those certain patented and unpatented lode mining claims situated in the Oatman Mining District, Mohave County, Arizona together with all extralateral and other associated rights, water rights, tenements, hereditaments and appurtenances belonging or appertaining thereto, and all rights-of-way, easements, rights of access and ingress to and egress from the claims appurtenant thereto and in which the Company had any interest. The purchase price consisted of $924,479 (C$1,200,000) in cash payable at closing and the remaining $231,120 (C$300,000) was paid by the issuance of Northern Vertex common shares to the Company valued at $0.26 (C$0.35) (857,140 shares), issued pursuant to the terms and provisions of an investment agreement entered between the Company and Northern Vertex contemporaneous to the Purchase and Sale Agreement. The investment agreement prohibited the resale of the shares during the four-month period following the date of issuance and thereafter, the Company agreed to not sell the shares in an amount exceeding 100,000 shares per month. As of May 31, 2016, the Company recognized a gain on sale of mineral property of $1,155,600 in the Consolidated Statements of Operations. Windy Peak Property The Windy Peak Property, (“Windy Peak”) consists of 114 unpatented mineral claims covering approximately 2,337 acres, 3 miles NNE of the Bell Mountain and 7 miles east of the Fairview mining district in southwest Nevada. As of May 31, 2019, the company has incurred approximately $525,842 of exploration expenses on the Windy Peak Property, and $392,365 and $32,444 were spent for the years ended May 31, 2019 and 2018, respectively. Rainbow Mountain Property In the fall of 2018, after conducting initial reconnaissance of the Rainbow Mountain, the Company acquired the Rainbow Mountain Property (“Rainbow Mountain”). This early-stage exploration project was secured through staking and filing the associated paperwork and fees with the BLM and County. The Rainbow Mountain gold project consists of 81 unpatented lode claims totaling approximately 1,620 contiguous acres, located approximately 23 km southeast of Fallon, in the state of Nevada. Access to the project area is by paved highway, followed by a short stretch of gravel road. Annual maintenance fees paid to the BLM and recording fees must be paid to the respective county on or before September 1 of each year to keep the claims in good standing, provided the filings are kept current these claims can be kept in perpetuity. As of May 31, 2019, the company has incurred approximately $29,492 of fees and exploration expenses on the Rainbow Mountain Property, all of which were incurred in the year ended May 31, 2019.

4. ROYALTY INTERESTS

4. ROYALTY INTERESTS	12 Months Ended
	May 31, 2019
Royalty Interests
ROYALTY INTERESTS	NOTE 4 – ROYALTY INTERESTS Pursuant to the Purchase and Sale Agreement with Golden Vertex, the Company’s has a 3% net smelter return royalty on the Moss Gold/Silver Mine in Arizona. For the years ended May 31, 2019 and 2018, the Company earned royalties of $864,779 and 46,504, respectively. Pursuant to the Bruner Purchase and Sale Agreement with Canamex Resources, the Company has a 2% net smelter return royalty on the Bruner Gold/Silver mine in Nevada. As of May 31, 2019, no royalties have yet been earned. In March 2019, the Company purchased a Vanadium Oxide royalty interest from a related party. In exchange for a non-refundable payment of $300,000, the Company will receive royalties based on the gross production of Vanadium Oxide (“Vanadium”) from a bitumen deposit covering 19 oil sands leases in Alberta. For each barrel of bitumen produced from the specified oil sands until March 21, 2039, or upon termination of mining, whichever is earlier, the Company will be paid a royalty equal to 25 grams of Vanadium per barrel of bitumen produced, multiplied by the price of Vanadium Pentoxide 98% min in-warehouse Rotterdam published on the last business day of the month in which the gross production of bitumen occurred. As of May 31, 2019, $220,000 has been paid, and the remaining $80,000 will be paid in installments through March 30, 2020 and is reflected in Accounts Payable and Accrued Liabilities. As of May 31, 2019, no royalties have yet been earned.

5. STOCK OPTIONS

5. STOCK OPTIONS	12 Months Ended
	May 31, 2019
Share-based Payment Arrangement [Abstract]
STOCK OPTIONS	NOTE 5 - STOCK OPTIONS The Company’s Board of Directors adopted the 2014 Stock Option Plan (the “2014 Plan”) in June 2014, the 2012 Stock Option Plan (the “2012 Plan”) in July 2012 and the 2005 Stock Option Plan (the “2005 Plan”) in November 2005. The combined compensation costs charged against those plans was $21,142 and $273,185 for the years ended May 31, 2019 and 2018, respectively. The 2014 Plan, the 2012 Plan and the 2005 Plan reserve and make available for grant common stock shares of up to 5,000,000, 3,900,000 and 2,000,000, respectively. In November 2015, the 2005 Stock Option Plan expired so that no share may be granted pursuant to this Plan. No option can be granted under the plans 10 years after the plan inception date. Options granted to officers or employees under the plans may be incentive stock options or non-qualified stock options. Options granted to directors, consultants, and independent contracts are limited to non-qualified stock options. The plans are administered by the Board of Directors or a committee designated by the Board of Directors. Subject to specified limitations, the Board of Directors or the Committee has full authority to grant options and establish the terms and conditions for vesting and exercise thereof. However, the aggregate fair market value (determined at the time the option is granted) of the shares with respect to which incentive stock options are exercisable for the first time by an optionee during any calendar year cannot exceed $100,000. Options granted pursuant to the plans are exercisable no later than ten years after the date of grant. The exercise price per share of common stock for options granted shall be determined by the Board of Directors or the designated committee, except for incentive stock options granted to a holder of ten percent or more of Patriot's common stock, for whom the exercise price per share will not be less than 110% of the fair market value. As of May 31, 2019, there were 535,000 and 2,680,000 shares available for grant under the 2014 Plan and 2012 Stock Option Plan, respectively. Stock Option Activity The fair value of each stock option is estimated at the date of grant using the Black-Scholes option pricing model. No options were granted in 2019. Assumptions regarding volatility, expected term, dividend yield and risk-free interest rate are required for the Black-Scholes model. The volatility assumption is based on the Company’s historical experience. The risk-free interest rate is based on a U.S. treasury note with a maturity similar to the option award’s expected life. The expected life represents the average period of time that options granted are expected to be outstanding. The assumptions for volatility, expected life, dividend yield and risk-free interest rate are presented in the table below: 2019 2018 Risk-free interest rate N/A 2.07% - 2.9% Expected life in years N/A 10 Volatility N/A 425.9% - 438.5% Expected dividend yield N/A $0 Exercise Price N/A $0.10 The following table summarizes stock option activity and related information for the years ended May 31, 2019: Number of Weighted Weighted Aggregate Balance May 31, 2017 7,015,000 $ 0.10 8.6 0.00 Option granted 3,470,000 0.10 Options cancelled / expired (3,000,000 ) 0.10 Options exercised – – Balance May 31, 2018 7,485,000 $ 0.10 7.8 0.00 Option granted – – Options cancelled / expired – – Options exercised (20,000 ) 0.10 Balance May 31, 2019 7,465,000 $ 0.10 7.07 0.00 Exercisable at May 31, 2019 7,115,000 $ 0.10 7.07 0.00 The following table summarized information pertaining to unvested stock options for the years ended May 31, 2019: Shares Weighted Unvested at May 31, 2017 548,333 $ 0.139 Granted 3,470,000 0.078 Vested (3,343,333 ) 0.081 Exercised / forfeited – – Unvested at May 31, 2018 675,000 $ 0.112 Granted – – Vested (325,000 ) 0.11 Exercised / forfeited – – Unvested at May 31, 2019 350,000 $ 0.113 As of May 31, 2019, the Company had $24,058 of total unrecognized compensation costs related to unvested stock options, which is expected to be recognized in July 2019. The Company issues new stock when options are exercised.

6. COMMON STOCK

6. COMMON STOCK	12 Months Ended
	May 31, 2019
Equity [Abstract]
COMMON STOCK	NOTE 6 - COMMON STOCK The Company may issue up to 100,000,000 shares of $.001 par value common stock. As of May 31, 2019, the Company had 74,280,354 of common shares outstanding. During the year ended May 31, 2019 and 2018, the company granted 7,851,500 and 2,531,250 restricted shares of the Company’s common stock at $0.04 per share in payment for services provided to the Company, for total non-cash expense of $174,060 and $101,239. T he Restricted Common Stock is restricted for a period of three years following the date of grant. During the three-year period the recipient may not sell or otherwise dispose of the shares. During the year ended May 31, 2018, the Company bought back 100,000 shares of its stock. The shares have been credited to the treasury stock account at cost of $9,093.

7. WARRANTS

7. WARRANTS	12 Months Ended
	May 31, 2019
Warrants and Rights Note Disclosure [Abstract]
WARRANTS	NOTE 7 - WARRANTS The following table summarizes warrant activity during the years ended May 31, 2019 and 2018. All outstanding warrants were exercisable during this period. Number of Weighted Average Outstanding May 31, 2017 35,611,204 $ 0.09 Issued – – Canceled / exercised (2,601,747 ) 0.09 Expired – – Outstanding May 31, 2018 33,009,457 $ 0.09 Issued – – Canceled / exercised (8,000,000 ) 0.09 Expired (12,112,500 ) 0.07 Outstanding May 31, 2019 12,896,957 $ 0.11 In April 2019, warrants for 8,000,000 shares were exercised in exchange for a note receivable for $705,000. The note is non-interest bearing and can be repaid at any time with 15 days advance notice to the Company. The following tables summarizes outstanding warrants as of May 31, 2019, all of which are exercisable: Warrants Outstanding and Exercisable Range of Exercise Prices Number of Weighted Remaining Contractual Life (years) $0.06 - $0.08 3,576,957 $0.07 0.95 $0.09 - $0.14 6,320,000 $0.11 4.88 $0.15 - $0.21 3,000,000 $0.16 6.31 Total Outstanding May 31, 2019 12,896,957

8. PREFERRED STOCK

8. PREFERRED STOCK	12 Months Ended
	May 31, 2019
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
PREFERRED STOCK	NOTE 8 - PREFERRED STOCK The Company did not issue any preferred stock during the year ended May 31, 2019. During the year ended May 31, 2018 the company sold 290,000 shares of Series A preferred stock to a related party for total proceeds of $14,500. The holders of the Series A Preferred stock shall be entitled to receive non-cumulative dividends in preference to the declaration or payments of dividends on the Common Stock. In the event of liquidation of the Company, the holders of the Series A Preferred Stock shall receive any accrued and unpaid dividends before distribution or payments to the holders of the Common Stock. Series A Preferred Stock carries the same right to vote and act as Common stock, except that it carries super-voting rights entitling it to One Hundred (100) votes per share.

9. INCOME TAXES

9. INCOME TAXES	12 Months Ended
	May 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 9 - INCOME TAXES As of May 31, 2019, the Company had a net operating loss (“NOL”) carryforward for income tax reporting purposes of approximately $10,709,000 that may be offset against future taxable income. The carryforwards of $10,614,000 generated prior to fiscal year 2019 begin expiring in 2024 and unless utilized, will continue to expire. Beginning in fiscal 2019, net operating losses can be carried forward indefinitely, however they can only be utilized to offset up to 80% of taxable income. Current tax laws limit the amount of loss available to be offset against future taxable income when a substantial change in ownership occurs. Therefore, the amount available to offset future taxable income may be limited. No tax benefit has been reported in the financial statements, because the Company believes there is a 50% or greater chance the carryforwards will expire unused. Accordingly, the potential tax benefits of the loss carryforwards are offset by a valuation allowance of the same amount. Deferred tax assets of the Company are as follows: 2019 2018 Loss carryforwards $ 2,205,000 $ 2,163,000 Stock compensation expense 169,000 79,000 Mineral property amortization 31,000 4,000 Deferred tax asset 2,405,000 2,246,000 Less valuation allowance (2,405,000 ) (2,246,000 ) Deferred tax asset recognized $ – $ – A valuation allowance has been recorded to reduce the net benefit recorded in the financial statements related to these deferred tax assets. The valuation allowance is deemed necessary as a result of the uncertainty associated with the ultimate realization of these deferred tax assets. The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate of 21% to net loss for the year. The sources and tax effect of the differences are as follows: 2019 2018 Computed expected tax benefit (liability) $ (59,103) $ (233,517) Permanent differences 30,259 63,492 Other 36,844 (2,833,975) Change in valuation allowance (8,000) 3,054,000 Income tax provision $ – $ – With few exceptions, the Company is generally no longer subject to U.S. federal, state, local or non-U.S. income tax examinations by tax authorities for years before 2016.

10. RELATED PARTY TRANSACTIONS

10. RELATED PARTY TRANSACTIONS	12 Months Ended
	May 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 10 - RELATED PARTY TRANSACTIONS For each of the years ended May 31, 2019 and 2018, Mr. Zachary Black, a Board Member, received 250,000 shares of restricted common stock, in lieu of cash, for services provided to the Company. The Restricted Common Stock is restricted for a period of three years following the date of grant. The shares were valued at $0.04 for total non-cash expense of $10,000. For the years ended May 31, 2019 and 2018, Mr. Black was paid fees in the amount of $53,298 and $0, respectively. Mr. Black provides geological consulting services to the Company pursuant to a consulting agreement. He is paid on an hourly basis for his services and reimbursed for his out-of-pocket expenses in performing such consulting services. For the years ended May 31, 2019 and 2018, Mr. Robert Coale, Chairman of the Board, received 250,000 and 281,250 shares of restricted common stock, in lieu of cash, for services provided to the Company. The Restricted Common Stock is restricted for a period of three years following the date of grant. The shares were valued at $0.04 for total non-cash expense of $10,000 and $11,239, respectively. For the years ended May 31, 2019 and 2018, Mr. Coale was paid fees in the amount of $11,303 and $7,586, respectively. Mr. Coale provides geological consulting services to the Company pursuant to a consulting agreement. He is paid on an hourly basis for his services and reimbursed for his out-of-pocket expenses in performing such consulting services. For the years ended May 31, 2019 and 2018, Mr. Trevor Newton, President, Chief Financial Officer, Secretary, Treasurer and Director of the Company, received 2,101,500 and 2,000,000 shares of restricted common stock, in lieu of cash, for services provided to the Company. The Restricted Common Stock is restricted for a period of three years following the date of grant. The shares were valued at $0.04 for total non-cash expense of $84,060 and $80,000, respectively. For the years ended May 31, 2019 and 2018, Mr. Newton was paid fees in the amount of $160,684 and $144,199, respectively. Mr. Newton provides consulting services to the Company pursuant to a consulting agreement. He is paid on an hourly basis for his services and reimbursed for his out-of-pocket expenses in performing such consulting services. During the year ended May 31, 2018, the company sold 290,000 shares of Series A preferred stock to Mr. Newton for total proceeds of $14,500. Prior to 2019, Board Members were not paid directors’ fees. However, in an effort to keep expenses down and avoid hiring additional staff, Board Members have become more active in the provision of services as the Company has become more active in developing its projects, vetting new properties, and managing its corporate affairs. Based on the recommendation from legal counsel, and pursuant to a resolution adopted by the Board, each director will now be paid fees of $70,000 per calendar year. Each director term is three years. As of May 31, 2019, the fees for January through May of $29,167 for Mr. Coale and Mr. Black are reflected in Accounts Payable and Accrued Liabilities – Related Parties. In lieu of cash, Mr. Newton opted to receive his director fees in restricted shares of the Company, totaling 5,250,000 shares. The shares were valued at $0.04 for total non-cash expense of $29,167 for 2019, recorded as Directors Fees Expense, and the fees for the remainder of calendar year 2019 and calendar years 2020 and 2021 are recorded as Prepaid Expenses, in the amount of $180,833. The Company recognizes these consulting fees as general and administrative expenses in the Consolidated Statements of Operations. During the year ended May 31, 2018, the Company acquired 2,000,000 shares of common stock of Strata Power Corporation (“Strata”) through a series of private placements for a total cost of $197,442 (CDN $253,088) as an investment in lithium mining extraction technologies. The purchase was accounted for as a marketable security in available for sale securities. Strata is a related party through Trevor Newton, who is President and a member the Board of Directors of both Patriot and Strata. Management has considered the guidance that is used to evaluate whether the Company has significant influence over Strata and has determined that no such significant influence exists.

11. SUBSEQUENT EVENTS

11. SUBSEQUENT EVENTS	12 Months Ended
	May 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were available to be issued and has determined that it does not have any material subsequent events to disclose in these financial statements, other than the following. Change in fiscal year-end The Company has elected to change its fiscal year-end to December 31. As a result, the next annual reporting period will be for the seven months ended December 31, 2019. 2019 Stock Option Plan The Company’s Board of Directors adopted the 2019 Stock Option Plan (the “2019 Plan”) in July 2019. The 2019 Plan reserves and makes available for grant up to 9,500,000 of common stock shares. No option can be granted under the plan 10 years after the plan inception date. Options granted to officers under the plan may be incentive stock options or non-qualified stock options. Options granted to directors, consultants, and advisors of the Company (whether or not employees of the Company) are limited to non-qualified stock options. The plan is administered by the Board of Directors or a committee designated by the Board of Directors. Subject to specified limitations, the Board of Directors or the Committee has full authority to grant options and establish the terms and conditions for vesting and exercise thereof. Options granted pursuant to the plan is exercisable no later than ten years after the date of grant. The exercise price per share of common stock for options granted shall be determined by the Board of Directors or the designated committee, except for incentive stock options granted to a holder of ten percent or more of Patriot's common stock, for whom the exercise price per share will not be less than 110% of the fair market value.

2. SIGNIFICANT ACCOUNTING POL_2

2. SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Goldbase and Patriot Canada. Collectively, they are referred to herein as “the Company”. Inter-company accounts and transactions have been eliminated.
Management's Estimates and Assumptions	Management’s Estimates and Assumptions The preparation of the consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management believes that all applicable estimates and adjustments are appropriate. Actual results could differ from those estimates.
Going Concern	Going Concern Management believes they will have sufficient funds to support their business based on the following: (a) revenues derived from the Moss royalty, given the Moss mine is now in production; (b) the Company's marketable securities are relatively liquid; (c) the Company believes it can raise additional funds if needed to support our business plan, although there can be no assurance that the Company can raise any additional funds, or if it can, that such funds will be on terms acceptable to the Company.
Exploration and Development Costs	Exploration and Development Costs Mineral exploration costs and payments related to the acquisition of the mineral rights are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to acquire and develop such property will be capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. No costs have been capitalized through May 31, 2019.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all investment instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes. The Company has no cash equivalents as of May 31, 2019 and 2018.
Marketable Securities	Marketable Securities Investment securities are classified in one of three categories: held to maturity, available for sale, or trading. Management determines the appropriate classification of securities at the time of purchase. Investment securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. As of May 31, 2019 and 2018, the Company has no investments in held to maturity securities. Investment securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and reported at fair value, with unrealized gains and losses included in earnings. Investment securities that are not considered to be held to maturity or trading are classified as available for sale. This type of investment is stated at fair value with unrealized gains and losses, net of tax, reported in a separate component of shareholders' equity (“accumulated other comprehensive income”). Gains and losses from sales of investments classified as available for sale are determined using the specific identification method. As of May 31, 2019 and 2018, the Company has no investments classified as available for sale. The Company’s short-term marketable securities classified as trading securities are comprised of Northern Vertex Mining Corp. and Strata Power Corporation (“Strata”) stock. The Company acquired the Northern Vertex stock on May 26, 2016 as part of the Moss Property sale. The Company purchased Strata common stock through multiple private placement offerings during the year ended May 31, 2018 as an investment in lithium mining extraction technologies.
Reclamation Deposits	Reclamation Deposits Various mining laws and permits require that financial assurances be in place for certain environmental and reclamation obligations. Accordingly, the Company pays cash bonds to the Bureau of Land Management (“BLM”) upon acquisition of mining rights for estimated potential reclamation obligations. Any residual funds after reclamation obligations have been paid, are refunded to the Company. Upon payment of a cash bond, the Company recognizes a reclamation deposit as a long-term asset on its Consolidated Balance Sheets. As of May 31, 2019, and 2018, there were no reclamation deposits recorded.
Foreign Currency Translation	Foreign Currency Translation The Company’s functional currency and reporting currency is the U.S. dollar. Monetary items denominated in foreign currency are translated to U.S. dollars at exchange rates in effect at the balance sheet date and non-monetary items are translated at rates in effect when the assets were acquired, or obligations incurred. Revenue and expenses are translated at rates in effect at the time of the transactions. Foreign exchange gains and losses are included in the consolidated statements of operations.
Concentration of Credit Risk	Concentration of Credit Risk The Company has no off-balance-sheet concentrations of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. The Company maintains the majority of its cash balances with two financial institutions in the form of demand deposits.
Income/Loss per Share	Income/Loss per Share Basic earnings per share is computed by dividing the net income by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares plus dilutive potential common shares outstanding during the period. As of May 31, 2019, and 2018, all of the outstanding stock options and warrants were excluded from the computation of diluted shares outstanding as they would have had an anti-dilutive impact on the Company’s loss from continuing operations.
Comprehensive Income	Comprehensive Income Comprehensive income consists of net income and other gains and losses affecting shareholders’ equity that, under generally accepted accounting principles, are excluded from net income. For the Company, such items consist primarily of foreign currency translation gains and losses. Accumulated other comprehensive income at May 31, 2019 and 2018, consists of foreign currency adjustments related to the Company changing its functional currency from Canadian to U.S. dollar in 2003.
Stock Options	Stock Options The Company measures all employee stock-based compensation awards using a fair value method on the date of grant and recognizes such expense in its consolidated financial statements over the requisite service period. The Company uses the Black-Scholes pricing model to determine the fair value of stock-based compensation awards on the date of grant. The Black-Scholes pricing model requires management to make assumptions regarding option lives, expected volatility, and risk-free interest rates. The Company accounts for non-employee stock-based awards in accordance with the Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): The Company uses the Black-Scholes pricing model to determine the fair value of stock-based compensation awards. The Black-Scholes pricing model requires management to make assumptions regarding option lives, expected volatility, and risk-free interest rates.
Stock-based Compensation	Stock-based Compensation We account for equity-based transactions with nonemployees awards in accordance with the Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): We account for employee stock-based compensation in accordance with the guidance of FASB ASC Topic 718, Compensation—Stock Compensation, The Company has granted Restricted Common Stock, where the Restricted Common Stock is restricted for a period of three years following the date of grant. During the three-year period the recipient may not sell or otherwise dispose of the shares. The Company has applied a discount for illiquidity to the price of the Company’s stock when determining the amount of expense to be recorded for the Restricted Common Stock issuance. The discount for illiquidity for the Restricted Common Stock was estimated on the date of grant by taking the average close price of the freely traded common shares for the period in which the services were provided, and applying an illiquidity discount of 10% for each multiple that the total Restricted Common Stock is of the average daily volume for the period, to a maximum of 50%.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of the Company's financial instruments, including prepaids, accounts payable and accrued liabilities, at May 31, 2019 and 2018 approximates their fair values due to the short-term nature of these financial instruments. Management is of the opinion that the Company is not exposed to significant interest or credit risks arising from these financial instruments. The Company carries other company’s equity instruments at fair value as required by U.S. GAAP, which are valued using level 1 inputs under the fair value hierarchy. In general, investments with original maturities of greater than 90 days and remaining maturities of less than one year are classified as short-term investments. Investments with maturities beyond one year may also be classified as short-term based on their highly liquid nature and can be sold to fund current operations.
Fair Value Hierarchy	Fair Value Hierarchy Fair value is defined within the accounting rules as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The rules established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. As presented in the tables below, this hierarchy consists of three broad levels: Level 1 Level 2. Level 3 Assets measured at fair value on a recurring basis by level within the fair value hierarchy are as follows: Fair Value Measurement at Fair Value Measurement at May 31, 2019 May 31, 2018 Using Total Using Total Assets: Marketable securities $ 112,272 $ 112,272 $ 333,620 $ 333,620 Transactions measured at fair value on a non-recurring basis by level within the fair value hierarchy are as follows: Fair Value Measurement at Fair Value Measurement at May 31, 2019 May 31, 2018 Using Total Using Total Issuance of restricted shares $ 314,060 $ 314,060 $ 101,250 $ 101,250
Related Party Transactions	Related Party Transactions A related party is generally defined as (i) any person who holds 10% or more of the Company’s securities and their immediate families, (ii) the Company’s management, (iii) an entity or person who directly or indirectly controls, is controlled by or is under common control with the Company, or (iv) anyone who can significantly influence the financial and operating decisions of the Company. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.
Income Taxes	Income Taxes The Company follow ASC 740-10-30, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the fiscal year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the fiscal years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Income in the period that includes the enactment date. The Company adopted ASC 740-10-25 (“ASC 740-10-25”) with regard to uncertainty of income tax positions. ASC 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740-10-25, we may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740-10-25 also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods and requires increased disclosures. We had no material adjustments to our liabilities for unrecognized income tax benefits according to the provisions of ASC 740-10-25.
New Accounting Pronouncements	New Accounting Pronouncements On June 1, 2018, the Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 606, Revenue from Contracts with Customers 1. I dentify the contract with the customer. The contract with Golden Vertex is documented in the Purchase and Sale Agreement dated 5/12/16 and the Royalty Deed dated 5/25/16. 2. Identify the performance obligations in the contract. The performance obligation in the contract required Patriot to relinquish its 30% interest in the Moss gold/silver mine. The Company conveyed all of its right, title and interest in those certain patented and unpatented lode mining claims situated in the Oatman Mining District, Mohave County, Arizona together with all extralateral and other associated rights, water rights, tenements, hereditaments and appurtenances belonging or appertaining thereto, and all rights-of-way, easements, rights of access and ingress to and egress from the claims appurtenant thereto, and in which the Company had any interest. 3. Determine the transaction price. The transaction price was C$1,500,000 plus 3% of the Net Smelter Returns on the future production of the Moss mine. See Note 3 for definition of Net Smelter Returns. 4. Allocate the transaction price to the performance obligations in the contract. The Company only has one performance obligation, the transfer of the rights to the Moss mine, which has already been fulfilled. 5. Recognize revenue when (or as) the entity satisfies a performance obligation. The C$1,500,000 was recognized as a sale of the mining rights in 2016, resulting in a gain from the disposition of the property. The 3% net smelter returns royalty will be recognized as revenue in the period that Golden Vertex produces and sells minerals from the Moss mine, which began in March 2018. The royalties that have been received to date have been highly variable, as the amounts are dependent upon the monthly production, the demand of the buyers, the spot price of gold and silver, the costs associated with refining and transporting the product, etc. As such, management has determined that the revenue recognition shall be treated as variable consideration as defined in ASC 606. Variable consideration should only be recognized to the extent that it is probable that a significant reversal of revenue will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Given the fact that royalties to date have been highly variable with a great degree of uncertainty, and any attempts to estimate future revenue would likely result in a significant reversal of revenue, royalty revenue will be recognized when payments and settlement statements are received from Golden Vertex, in the period for which the sales were made by Golden Vertex. It is at that time that any uncertainty related to royalty payments is resolved. The Company applied ASC 606 using the modified retrospective method applied to contracts not yet completed as of the date of adoption and resulted in the recognition of $46,504 during the year ended May 31, 2018. On June 20, 2018, the FASB issued Accounting Standards Update (ASU) 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In May 2017, the FASB issued ASU 2017-09 which clarifies when changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Under the new guidance, modification accounting is only required if the fair value, vesting conditions or classification (equity or liability) of the new award are different from the original award immediately before the original award is modified. The standard is effective for the Company on June 1, 2018, with early adoption permitted. The new guidance must be applied prospectively to awards modified on or after the adoption date. The future impact of ASU 2017-09 will be dependent on the nature of future stock award modifications, however no significant impact is expected. In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments.” The pronouncement revises the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The guidance is effective for the Company beginning in the first quarter of fiscal year 2021 with early adoption permitted. The Company is currently evaluating the potential impact of this guidance on it consolidated financial statements. The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

2. SIGNIFICANT ACCOUNTING POL_3

2. SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	May 31, 2019
Accounting Policies [Abstract]
Fair Value of Marketable Securities	Assets measured at fair value on a recurring basis by level within the fair value hierarchy are as follows: Fair Value Measurement at Fair Value Measurement at May 31, 2019 May 31, 2018 Using Total Using Total Assets: Marketable securities $ 112,272 $ 112,272 $ 333,620 $ 333,620 Transactions measured at fair value on a non-recurring basis by level within the fair value hierarchy are as follows: Fair Value Measurement at Fair Value Measurement at May 31, 2019 May 31, 2018 Using Total Using Total Issuance of restricted shares $ 314,060 $ 314,060 $ 101,250 $ 101,250

5. STOCK OPTIONS (Tables)

5. STOCK OPTIONS (Tables)	12 Months Ended
	May 31, 2019
Share-based Payment Arrangement [Abstract]
Assumptions used for valuation of stock options	2019 2018 Risk-free interest rate N/A 2.07% - 2.9% Expected life in years N/A 10 Volatility N/A 425.9% - 438.5% Expected dividend yield N/A $0 Exercise Price N/A $0.10
Schedule of stock option activity	Number of Weighted Weighted Aggregate Balance May 31, 2017 7,015,000 $ 0.10 8.6 0.00 Option granted 3,470,000 0.10 Options cancelled / expired (3,000,000 ) 0.10 Options exercised – – Balance May 31, 2018 7,485,000 $ 0.10 7.8 0.00 Option granted – – Options cancelled / expired – – Options exercised (20,000 ) 0.10 Balance May 31, 2019 7,465,000 $ 0.10 7.07 0.00 Exercisable at May 31, 2019 7,115,000 $ 0.10 7.07 0.00
Schedule of unvested stock options	Shares Weighted Unvested at May 31, 2017 548,333 $ 0.139 Granted 3,470,000 0.078 Vested (3,343,333 ) 0.081 Exercised / forfeited – – Unvested at May 31, 2018 675,000 $ 0.112 Granted – – Vested (325,000 ) 0.11 Exercised / forfeited – – Unvested at May 31, 2019 350,000 $ 0.113

7. WARRANTS (Tables)

7. WARRANTS (Tables)	12 Months Ended
	May 31, 2019
Warrants and Rights Note Disclosure [Abstract]
Schedule of warrant activity	Number of Weighted Average Outstanding May 31, 2017 35,611,204 $ 0.09 Issued – – Canceled / exercised (2,601,747 ) 0.09 Expired – – Outstanding May 31, 2018 33,009,457 $ 0.09 Issued – – Canceled / exercised (8,000,000 ) 0.09 Expired (12,112,500 ) 0.07 Outstanding May 31, 2019 12,896,957 $ 0.11
Warrants outstanding by exercise price	Warrants Outstanding and Exercisable Range of Exercise Prices Number of Weighted Remaining Contractual Life (years) $0.06 - $0.08 3,576,957 $0.07 0.95 $0.09 - $0.14 6,320,000 $0.11 4.88 $0.15 - $0.21 3,000,000 $0.16 6.31 Total Outstanding May 31, 2019 12,896,957

9. INCOME TAXES (Tables)

9. INCOME TAXES (Tables)	12 Months Ended
	May 31, 2019
Income Tax Disclosure [Abstract]
Deferred tax assets	2019 2018 Loss carryforwards $ 2,205,000 $ 2,163,000 Stock compensation expense 169,000 79,000 Mineral property amortization 31,000 4,000 Deferred tax asset 2,405,000 2,246,000 Less valuation allowance (2,405,000 ) (2,246,000 ) Deferred tax asset recognized $ – $ –
Schedule of income tax provision	2019 2018 Computed expected tax benefit (liability) $ (59,103) $ (233,517) Permanent differences 30,259 63,492 Other 36,844 (2,833,975) Change in valuation allowance (8,000) 3,054,000 Income tax provision $ – $ –

2. Significant Accounting Pol_4

2. Significant Accounting Policies (Details - Fair value) - USD ($)	May 31, 2019	May 31, 2018
Fair Value of Marketable Securities	$ 112,272	$ 333,620
Fair Value of Equity	314,060	101,250
Fair Value, Inputs, Level 1 [Member] | Marketable Securiies [Member]
Fair Value of Marketable Securities	112,272	333,620
Fair Value, Inputs, Level 2 [Member] | Restricted Shares [Member]
Fair Value of Equity	$ 314,060	$ 101,250

2. Significant Accounting Pol_5

2. Significant Accounting Policies (Details Narrative) - USD ($)	May 31, 2019	May 31, 2018
Accounting Policies [Abstract]
Cash Equivalents	$ 0	$ 0
Available for sale and held to maturity securities	0	0
Unrecognized tax benefits	$ 0	$ 0

3. Mineral Properties (Details

3. Mineral Properties (Details Narrative)	11 Months Ended	12 Months Ended		190 Months Ended
	Apr. 25, 2017USD ($)	May 31, 2019USD ($)NumberOfClaims	May 31, 2018USD ($)	May 31, 2019USD ($)NumberOfClaims
Bruner Gold/Silver Mine [Member]
Proceeds from sale of property	$ 1,000,000
Gain on sale of mineral property	$ 1,000,000
Vernal [Member]
Accumulated exploration costs				$ 89,616
Exploration expenses		$ 1,860	$ 2,008
Windy Peak Property
Accumulated exploration costs		525,842
Exploration expenses		$ 392,365	$ 32,444
Unpatented mineral claims | NumberOfClaims		114		114
Rainbow Mountain Property [Member]
Exploration expenses		$ 29,492
Unpatented mineral claims | NumberOfClaims		81		81

4. Royalty Interests (Details N

4. Royalty Interests (Details Narrative) - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Payment to acquire mineral interest	$ 300,000	$ 0
Accounts payable	94,642	53,056
Vanadium Oxide [Member]
Royalty income	0
Payment to acquire mineral interest	220,000
Accounts payable	80,000
Moss Gold/Silver Mine [Member]
Royalty income	864,779	$ 46,504
Bruner Gold/Silver Mine [Member]
Royalty income	$ 0
Revenue From Rights Concentration Risk [Member] | Moss Gold/Silver Mine [Member]
Royalty percentage	3.00%
Revenue From Rights Concentration Risk [Member] | Bruner Gold/Silver Mine [Member]
Royalty percentage	2.00%

5. Stock Options (Details - Ass

5. Stock Options (Details - Assumptions) - Options [Member] - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Risk-free interest rate, minimum		2.07%
Risk-free interest rate, maximum		2.90%
Expected life in years		10 years
Volatility rate, minimum		425.90%
Volatility rate, maximum		438.50%
Expected dividend yield		$ 0
Weighted average grant date fair value		$ 0.10

5. Stock Options (Details - Opt

5. Stock Options (Details - Option activity) - Stock Options [Member] - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2017
Options Outstanding
Outstanding, beginning balance	7,485,000	7,015,000
Granted	0	3,470,000
Expired	0	(3,000,000)
Exercised	(20,000)	0
Outstanding, ending balance	7,465,000	7,485,000
Exercisable	7,115,000
Weighted Average Exercise Price
Outstanding, beginning balance	$ 0.10	$ .10
Granted		0.10
Expired		.10
Exercised	.10
Outstanding, ending balance	.10	$ 0.10
Exercisable	$ .10
Weighted Average Remaining Contractual Life (Years)
Weighted average remaining contractual life (in years)	7 years 9 months 18 days	8 years 7 months 6 days
Weighted average remaining contractual life exercisable	7 years 25 days
Aggregate Intrinsic Value
Aggregate intrinsic value options outstanding	$ 0	$ 0	$ 0
Aggregate intrinsic value options exercisable	$ 0

5. Stock Options (Details - Unv

5. Stock Options (Details - Unvested options) - Unvested Stock Options [Member] - $ / shares	12 Months Ended
	May 31, 2019	May 31, 2018
Shares unvested, beginning balance	675,000	548,333
Shares unvested, granted	0	3,470,000
Shares unvested, vested/forfeited	(325,000)	(3,343,333)
Unvested, exercised	0	0
Shares unvested, ending balance	350,000	675,000
Price per share, nonvested options, beginning balance	$ 0.112	$ 0.139
Price per share, nonvested options, granted	0	0.078
Price per share nonvested options, vested/forfeited	0.11	0.081
Price per share nonvested options, exercised	0	0
Price per share nonvested options, outstanding	$ 0.113	$ 0.112

5. Stock Options (Details Narra

5. Stock Options (Details Narrative) - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Stock compensation expense	$ 21,142	$ 273,185
Unrecognized compensation costs	$ 24,058
2014 Plan [Member]
Shares authorized under plan	5,000,000
Shares available for grant	535,000
2012 Plan [Member]
Shares authorized under plan	3,900,000
Shares available for grant	2,680,000
2005 Plan [Member]
Shares authorized under plan	2,000,000
Shares available for grant	0

6. Common Stock (Details Narrat

6. Common Stock (Details Narrative) - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Payment to repurchase equity	$ 0	$ 9,093
Restricted Stock [Member]
Restricted stock granted	7,851,500	2,531,250
Restricted stock granted, value	$ 174,060	$ 101,239
Common Stock [Member]
Stock repurchased, shares		100,000
Payment to repurchase equity		$ 9,093

7. Warrants (Details - Warrant

7. Warrants (Details - Warrant activity) - Warrant [Member] - $ / shares	12 Months Ended
	May 31, 2019	May 31, 2018
Number of Warrants
Warrants outstanding, beginning balance	33,009,457	35,611,204
Warrants issued	0	0
Warrants cancelled or exercised	(8,000,000)	(2,601,747)
Warrants expired	(12,112,500)	0
Warrants outstanding, ending balance	12,896,957	33,009,457
Weighted Average Exercise Price
Weighted average exercise price, beginning	$ .09	$ .09
Weighted average exercise price, issued
Weighted average exercise price, cancelled/exercised	0.09	0.09
Weighted average exercise price, expired	0.07
Weighted average exercise price, ending	$ 0.11	$ .09

7. Warrants (Details - Warrants

7. Warrants (Details - Warrants by exercise price) - Warrant [Member] - $ / shares	12 Months Ended
	May 31, 2019	May 31, 2018	May 31, 2017
Warrants outstanding	12,896,957	33,009,457	35,611,204
Warrants exercisable, weighted average exercise price	$ 0.11	$ .09	$ .09
$0.06 - $0.08 [Member]
Warrants outstanding	3,576,957
Warrants exercisable, weighted average exercise price	$ 0.07
Warrants exercisable, remaining contractual life	11 months 12 days
$0.09 - $0.14 [Member]
Warrants outstanding	6,320,000
Warrants exercisable, weighted average exercise price	$ 0.11
Warrants exercisable, remaining contractual life	4 years 10 months 17 days
$0.15 - $0.21 [Member]
Warrants outstanding	3,000,000
Warrants exercisable, weighted average exercise price	$ 0.16
Warrants exercisable, remaining contractual life	6 years 3 months 22 days

8. Preferred Stock (Details Nar

8. Preferred Stock (Details Narrative) - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Proceeds from sale of preferred stock	$ 0	$ 14,500
Series A Preferred Stock [Member]
Stock issued new, shares		290,000
Proceeds from sale of preferred stock		$ 14,500

9. Income Taxes (Details - Defe

9. Income Taxes (Details - Deferred tax) - USD ($)	May 31, 2019	May 31, 2018
Income Tax Disclosure [Abstract]
Loss carryforwards	$ 2,205,000	$ 2,163,000
Stock compensation expense	169,000	79,000
Mineral property amortization	31,000	4,000
Deferred tax asset	2,405,000	2,246,000
Less: Valuation allowance	(2,405,000)	(2,246,000)
Deferred tax asset recognized	$ 0	$ 0

9. Income Taxes (Details - Tax

9. Income Taxes (Details - Tax reconcilation) - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Income Tax Disclosure [Abstract]
Computed expected tax benefit (liablity)	$ (59,103)	$ (233,517)
Permanent differences	30,259	63,492
Other	36,844	(2,833,975)
Change in Valuation Allowance	(8,000)	3,054,000
Income tax provision	$ 0	$ 0

9. Income Taxes (Details Narrat

9. Income Taxes (Details Narrative)	12 Months Ended
	May 31, 2019USD ($)
Income Tax Disclosure [Abstract]
Net operating loss	$ 10,709,000
Net operating loss expiration date	Dec. 31, 2036

10. Related Party Transactions

10. Related Party Transactions (Details Narrative) - USD ($)	12 Months Ended
	May 31, 2019	May 31, 2018
Director fees	$ 87,500	$ 0
Consulting fees	254,760	237,667
Proceeds from sale of preferred stock	0	14,500
Director fees payable	138,434	0
Prepaid director fees	$ 184,833	$ 0
Zachary Black [Member]
Stock issued for compensation, shares	250,000	250,000
Stock issued for compensation, value	$ 10,000	$ 10,000
Consulting fees	$ 53,298	$ 0
Robert Coale [Member]
Stock issued for compensation, shares	250,000	281,250
Stock issued for compensation, value	$ 10,000	$ 11,239
Consulting fees	$ 11,303	$ 7,586
Trevor Newton [Member]
Stock issued for services, shares	5,250,000
Director fees	$ 29,167
Stock issued for compensation, shares	2,101,500	2,000,000
Stock issued for compensation, value	$ 84,060	$ 80,000
Consulting fees	$ 160,684	$ 144,199
Stock issued new, shares	290,000
Proceeds from sale of preferred stock	$ 14,500
Prepaid director fees	180,833
Coale and Black [Member]
Director fees payable	$ 29,167
Strata Oil and Gas [Member]
Investment shares received		2,000,000
Payment for investment		$ 197,442