Dakota Territory Resource (DTRC) 10-K 29 Jun 20 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2020	Jun. 12, 2020	Sep. 30, 2019
Details
Registrant Name	DAKOTA TERRITORY RESOURCE CORP
Registrant CIK	0001182737
Fiscal Year End	--03-31
Document Type	10-K
Document Annual Report	true
Document Description	ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Document Period End Date	Mar. 31, 2020
Entity File Number	000-501191
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	98-0201259
Entity Address, Address Line One	10580 N. McCarran Blvd.
Entity Address, Address Line Two	Building 115-208
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89503
City Area Code	713
Local Phone Number	542-5161
Phone Fax Number Description	Registrant’s telephone number, including area code
Title of 12(g) Security	Common Stock, par value $0.001
Entity Listing, Par Value Per Share	$ 0.001
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 2,123,736
Entity Common Stock, Shares Outstanding		66,914,964
Amendment Flag	false
No Trading Symbol Flag	true
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Document Transition Report	false

Balance Sheets

Balance Sheets - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Current Assets
Cash and cash equivalents	$ 146,425	$ 152,590
Prepaid Expense and Other Assets, Current	7,649	8,851
Total current assets	154,074	161,441
Mineral Properties, Net	216,104	216,104
Total assets	370,178	377,545
Current liabilities:
Accounts Payable and Accrued Liabilities, Current	501,818	225,896
Accounts payable - related party	1,790,829	1,600,659
Line of credit	30,082	35,165
Notes Payable, Current	300,000	0
Note payable - related party	325,645	325,645
Liabilities, Current	2,948,374	2,187,365
Liabilities	2,948,374	2,187,365
Shareholders' deficit:
Preferred Stock	0	0
Common Stock	65,417	62,917
Additional paid-in capital	2,734,130	2,390,733
Accumulated deficit	(5,378,000)	(4,263,470)
Total shareholders' deficit	(2,578,196)	(1,809,820)
Total liabilities and shareholders' deficit	$ 370,178	$ 377,545

Balance Sheets - Parenthetical

Balance Sheets - Parenthetical - $ / shares	Mar. 31, 2020	Mar. 31, 2019
Details
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares, Issued	65,416,787	62,916,787
Common Stock, Shares, Outstanding	65,416,787	62,916,787

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating expenses:
Exploration costs	$ 100,133	$ 53,367
General and administrative expenses	1,001,339	552,555
Total operating expenses	1,101,472	605,922
Operating loss	(1,101,472)	(605,922)
Other Nonoperating Income (Expense)
Gain on extinguishment of debt	0	660,239
Interest expense	(12,801)	(33,366)
Total other income (expense)	(12,801)	626,873
Net Income (Loss)	$ (1,114,273)	$ 20,951
Net loss per share:
Basic and diluted net loss per common share	$ (0.02)	$ 0
Basic and diluted weighted-average common shares outstanding	60,868,700	60,759,801

Statements of changes in Shareh

Statements of changes in Shareholders' Deficit - USD ($)	Common Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Mar. 31, 2018	$ 59,567	$ 1,955,036	$ (4,284,421)	$ (2,269,818)
Shares Outstanding, Starting at Mar. 31, 2018	59,566,787
Stock Issued During Period, Value, New Issues	$ 3,050	301,950	0	305,000
Stock Issued During Period, Shares, New Issues	3,050,000
Common stock issued for services	$ 300	16,188	0	16,488
Stock Issued During Period, Shares, Issued for Services	300,000
Stock options issued for services, (VS)	$ 0	117,559	0	117,559
Stock options issued for services, (VS)	0
Net Income (Loss)	$ 0	0	20,951	20,951
Shares Outstanding, Ending at Mar. 31, 2019	62,916,787
Equity Balance, Ending at Mar. 31, 2019	$ 62,917	2,390,733	(4,263,470)	(1,809,820)
Stock Issued During Period, Value, New Issues	$ 1,000	99,000	0	100,000
Stock Issued During Period, Shares, New Issues	1,000,000
Common stock issued for services	$ 1,000	84,000	0	85,000
Stock Issued During Period, Shares, Issued for Services	1,000,000
Stock options issued for services, (VS)	$ 0	110,897	0	110,897
Stock options issued for services, (VS)	0
Stock Issued During Period, Value, Stock Options Exercised	$ 500	49,500	0	50,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	500,000
Net Income (Loss)	$ 0	0	(1,114,273)	(1,114,273)
Shares Outstanding, Ending at Mar. 31, 2020	65,416,787
Equity Balance, Ending at Mar. 31, 2020	$ 65,417	$ 2,734,130	$ (5,377,743)	$ (2,578,196)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ (1,114,273)	$ 20,951
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Stock-based compensation expense	110,897	117,559
Common stock issued for services	85,000	16,488
Gain on extinguishment of debt	0	(660,239)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,202	(4,518)
Accounts payable and accrued expenses	275,922	32,990
Accounts payable - related party	190,170	279,314
Net cash used in operating activities	(451,082)	(197,455)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in investing activities	0	0
Cash flows from financing activities:
Proceeds from note payable - related party	0	27,500
Proceeds from note payable	300,000	0
Proceeds from sale of common stock	100,000	305,000
Proceeds from exercise of common stock warrants	50,000	0
Repayment on line of credit, net	(5,083)	(2,436)
Net cash provided by financing activities	444,917	330,064
Net increase (decrease) in cash	(6,165)	132,609
Cash and cash equivalents	152,590	19,981
Cash and cash equivalents	146,425	152,590
Supplemental disclosure of cash flow information
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

Note 1 - Organization and Natur

Note 1 - Organization and Nature of Business	12 Months Ended
	Mar. 31, 2020
Notes
Note 1 - Organization and Nature of Business	Note 1 Organization and Nature of Business Dakota Territory Resource Corp., (“the Company”) was incorporated in the State of Nevada on February 6, 2002, has been in the exploration stage since its formation, and has not realized any revenues to date from its planned operations. Our Company is engaged in the business of acquisition and exploration of mineral properties within the Homestake Gold District of the Black Hills of South Dakota. To date, while no development or mining activities have commenced, our strategy is to move projects from exploration to development and finally on to mining as results of exploration may dictate. Dakota Territory’s management and technical teams have extensive mining and exploration experience in the Homestake District and we intend to leverage our experience together with our business presence in South Dakota to create value for our shareholders. The Company currently holds four brownfield project areas in the district comprised of 404 unpatented claims and a combination of surface and mineral leases covering a total of approximately 7,166 acres. Our goal is to obtain sufficient capital to advance our current property portfolio, to fund acquisition of additional prospective mineral property, and for the general working capital needs of the Company. In September 2012, the Company closed on the agreement with North Homestake Mining Company (“NHMC”) to exchange common stock to affect the acquisition of North Homestake’s gold exploration properties located in South Dakota. Since 2012, our Company has pursued a strategy of expanding our portfolio of brownfields exploration properties located exclusively within the Homestake District with the goal to build a dominant land position. Our property acquisitions have been based on our past exploration experiences, the extensive data sets we have assembled over the past 8 years, and new research the Company has conducted on the gold system that created the District. We have not established that any of our projects or properties contain any proven or probable reserves under SEC Industry Guide 7. Uncertainties and Economic Development In March 2020, the World Health Organization designated the new coronavirus (“COVID-19”) as a global pandemic. Federal, state and local governments have mandated orders to slow the transmission of the virus, including but not limited to shelter-in-place orders, quarantines, restrictions on travel, and work restrictions that prohibit many employees from going to work. Uncertainty with respect to the economic effects of the pandemic has resulted in significant volatility in the financial markets. The restrictions put in place by federal, state and local governments could delay our exploratory programs on our mineral properties. Furthermore, the impact of the pandemic on the global economy could also negatively impact the availability and cost of future borrowings should the need arise. Going Concern These financial statements have been prepared assuming that the Company will continue as a going concern. The Company has an accumulated deficit from inception through March 31, 2020 of approximately $5,378,000 and has yet to achieve profitable operations, and projects further losses in the development of its business. At March 31, 2020, the Company had a working capital deficit of approximately $2,794,000. The Company’s ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These financial statements do not include any adjustments to the amounts and classifications of assets and liabilities that may be necessary should we be unable to continue as a going concern. We anticipate that additional funding will be in the form of equity financing from the sale of common stock, such as the JR Resources Corp. transaction discussed further in Note 10 – Subsequent Events, and/or debt financing. However, there can be no assurance that the JR Resources transaction will close or that other capital will be available on terms acceptable to the Company. The issuances of additional equity securities by the Company would result in a dilution in the equity interests held by current shareholders. The Company may also seek to obtain short-term loans from the directors of the Company. Based on these factors, there is substantial doubt as the Company’s ability to continue as a going concern.

Note 2 - Summary of Accounting

Note 2 - Summary of Accounting Policies	12 Months Ended
	Mar. 31, 2020
Notes
Note 2 - Summary of Accounting Policies	Note 2 Summary of Accounting Policies Basis of Presentation Our financial records are maintained on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of demand deposits at commercial banks. Revenue Recognition The Company recognizes revenue when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods or services. The Company has yet to generate any revenue. Mineral Property Costs We have been in the exploration stage since inception and have not yet realized any revenues from our planned operations. All exploration expenditures are expensed as incurred. Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Mine development costs incurred to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. If we do not continue with exploration after the completion of the feasibility study, the associated capitalized costs will be expensed at that time. Costs of abandoned projects are charged to mining costs including related property and equipment costs. To determine if the capitalized mineral property costs are in excess of their recoverable amount, we conduct periodic evaluation of the carrying value of capitalized costs and any related property and equipment costs based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets Fair Value Measurements We account for assets and liabilities measured at fair value in accordance with ASC 820, Fair Value Measurements and Disclosures · · · Our financial instruments consist principally of cash, accounts payable, accrued liabilities and notes payable. The carrying amounts of such financial instruments in the accompanying financial statements approximate their fair values due to their relatively short-term nature or the underlying terms are consistent with market terms. It is management’s opinion that the Company is not exposed to any significant currency or credit risks arising from these financial instruments. Environmental Costs Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue general, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated. Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company’s commitments to plan of action based on the then known facts. Income Taxes Income taxes are computed using the asset and liability method, in accordance with ASC 740, Income Taxes Basic and Diluted Loss Per Share The Company computes basic and diluted income (loss) per share amounts pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic loss per share is computed by dividing net income (loss) available to common shareholders, by the weighted average number of shares of common stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted income (loss) per share is computed by dividing net income (loss) available to common shareholders by the diluted weighted average number of shares of common stock during the period. The diluted weighted average number of common shares outstanding is the basic weighted number of shares adjusted for the dilutive effect of potential future issuances of common stock related to outstanding options and warrants. The dilutive effect of outstanding options and warrants is reflected in diluted earnings per share by application of the treasury stock method. The effect of the Company’s outstanding options and warrants were excluded for the years ended March 31, 2020 and 2019, because they were anti-dilutive. Stock-Based Compensation The Company estimates the fair value of share-based compensation using the Black-Scholes valuation model, in accordance with the provisions of ASC 718, Compensation - Stock Compensation ASC 505, Equity Recent Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Pronouncements between March 31, 2020 and the date of this filing are not expected to have a significant impact on our operations, financial position, or cash flow, nor does the Company expect the adoption of recently issued, but not yet effective, accounting pronouncements to have a significant impact on our results of operations, financial position or cash flows.

Note 3 Revision and Immaterial

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements	12 Months Ended
	Mar. 31, 2020
Notes
Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements	Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements During the quarter ended March 31, 2020, we identified certain errors related to accounts payable and corresponding general and administrative expenses recognized in connection with a consulting agreement entered into in June 2014. In our previously issued audited financial statements for the years ended March 31, 2016 and 2015, we erroneously recognized accounts payable and a corresponding charge to consulting expense of $30,000 and $70,000, respectively, related to the agreement. Subsequently, we concluded that the agreement contained no cash consideration, only the issuance of 1,000,000 shares of common stock. Accordingly, we determined that the accounts payable and corresponding consulting expense should not have been recognized. During the quarter ended March 31, 2020, we also identified an error in our previously issued March 31, 2019 audited financial statements related to a duplicate entry to recognize 300,000 shares with a grant date fair value of $1,512. In accordance with ASC 250, Accounting Changes and Error Correction, The table below presents the effect of the financial statement adjustments related to the revisions discussed above of the Company’s previously reported financial statements as of and for the year ended March 31, 2019. The cumulative tax effect of the revisions are reflected in the twelve months ended March 31, 2020 financial statements presented in Note 6. This misstatement had no net impact on the Company’s consolidated statements of cash flows. The effect of the immaterial correction of an error in our previously filed consolidated financial statements as of and for the year ended March 31, 2019 is as follows: Balance Sheet As of March 31, 2019 Previously Reported Adjustments As Revised Total assets $ 377,545 $ - $ 377,545 Accounts payable and accrued liabilities 325,896 (100,000) 225,896 Total liabilities 2,287,365 (100,000) 2,187,365 Common stock 63,217 (300) 62,917 Additional paid-in capital 2,391,945 (1,212) 2,390,733 Accumulated deficit (4,364,982) 101,512 (4,263,470) Total shareholders’ equity (1,909,820) 100,000 (1,809,820) Total liabilities and shareholders’ deficit $ 377,545 $ - 377,545 Statement of Operations For the Year Ended March 31, 2019 Previously Reported Adjustments As Revised General and administrative expenses 554,067 $ (1,512) $ 552,555 Loss from operations (607,434) 1,512 (605,922) Net loss 19,439 1,512 20,951 Net loss per share: Basic and diluted 0 $ 0 $ 0 Statement of Changes in Shareholders’ Deficit For the Year Ended March 31, 2019 Previously Reported Adjustments As Revised Common stock (shares): Shares issued for services 600,000 (300,000) 300,000 Balance at March 31, 2019 63,216,787 (300,000) 62,916,787 Common stock (amount): Shares issued for services 600 $ (300) $ 300 Balance at March 31, 2019 63,217 (300) 62,917 Additional paid-in capital: Shares issued for services 17,400 (1,212) 16,188 Balance at March 31, 2019 2,391,945 (1,212) 2,390,733 Accumulated deficit: Balance at March 31, 2018 (4,384,421) 100,000 (4,284,421) Net loss 19,439 1,512 20,951 Balance at March 31, 2019 (4,364,982) 101,512 (4,263,470) Total shareholders’ deficit (1,909,820) $ 100,000 $ (1,809,820)

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	12 Months Ended
	Mar. 31, 2020
Notes
Note 4 - Related Party Transactions	Note 4 Related Party Transactions Effective February 24, 2012, we began paying consulting fees to Jerikodie, Inc., a company controlled by our CEO, President and a director of the Company. The agreement provides a fixed fee of $9,000 per month plus approved expenses. During the fiscal year ended March 31, 2019, Mr. Aberle, the chief executive officer and a director of the Company, and/or his affiliates loaned the Company an aggregate of $20,500, which loans are unsecured obligations of the Company, bearing interest at an annual rate of 3%, and are currently due on demand or past due in the amount of $21,171 as of March 31, 2020. Mr. Aberle is owed approximately $720,000 in accrued salary and consulting fees as of March 31, 2020, of which $108,000 relates to accruals during the fiscal year ended March 31, 2020 and $108,000 relates to accruals during the fiscal year ended March 31, 2019. The accrued salary and consulting fees are included in accounts payable – related party in the accompanying balance sheets. Effective October 1, 2005, we began paying a management consulting fee to Minera Teles Pires Inc., a company controlled by the Chief Geological Officer (“CGO”) and director of the Company. The agreement provides a fixed fee of $10,000 per month of which $5,000 is paid and the other $5,000 deferred until financing is obtained by us. Additionally, the agreement provides for a payment of $1,500 per month for office rent and expenses. As of March 31, 2020, the Company owed Mr. Bachman, the President and a director of the Company, and/or his affiliates a principal amount of $305,145 and accrued interest of $81,164 These loans are unsecured obligations of the Company, bearing interest at annual rates of between 3% and 4%, and are due on demand or past due; of which $7,000 was advanced during the fiscal year ended March 31, 2019. Mr. Bachman is owed approximately $920,000 in accrued salary, consulting fees and rent reimbursement as of March 31, 2020, of which $103,500 relates to accruals during the fiscal year ended March 31, 2020 and $138,000 relates to accruals during the fiscal year ended March 31, 2019. Such amounts are included in accounts payable – related party in the accompanying balance sheets. As of March 31, 2020 and 2019, the Company owes Mr. Mathers, the chief financial officer, approximately $151,000 for consulting fees which is included in accounts payable – related party in the accompanying balance sheet. In September 2018, Mr. O’Rourke, a director of the Company, purchased 750,000 shares of our common stock in a private placement for $75,000. Additionally, Mr. O’Rourke, through his consulting firm, entered into a one-year consulting agreement with the Company (i) in September 2018 whereby he was issued a consulting fee of 1,000,000 shares for services rendered, and (ii) in September 2019 whereby he was issued a five-year option to purchase 1,000,000 shares of our common stock at an exercise price of $0.08 per share. During the quarter ended March 31, 2020, Mr. Kamin billed the Company $48,000 for consulting services rendered. Messrs. Aberle and Bachman own a 5% net smelter return royalty on the original eighty-four unpatented mining claims comprising the Blind Gold Property.

Note 5 - Mineral Properties

Note 5 - Mineral Properties	12 Months Ended
	Mar. 31, 2020
Notes
Note 5 - Mineral Properties	Note 5 Mineral Properties On September 26, 2012, the Company was re-organized with North Homestake Mining Company. With this re-organization, the Company acquired 84 unpatented lode mining claims covering approximately 1,600 acres known as the Blind Gold Property located in the Black Hills of South Dakota. On December 28, 2012, the Company acquired 57 unpatented lode mining claims covering approximately 853 acres known as the West False Bottom Creek and Paradise Gulch Claim Group, the City Creek Claims Group, and the Homestake Paleoplacer Claims Group, all located in the Black Hills of South Dakota. The West False Bottom Creek and Paradise Gulch Claims were contiguous to the Blind Gold Property and have been incorporated into the Blind Gold Property. The purchase price was 1,000,000 restricted common shares valued at $0.15 per share, or $150,000. On February 24, 2014 the Company acquired surface and mineral title to the 26.16 acres of the Squaw and Rubber Neck Lodes that comprise Mineral Survey 1706 in the Black Hills of South Dakota. The Company is required to make annual lease payments of $8,000 for a period of 5 years, of which $8,000 was due upon execution of the agreement. On May 7, 2019, the Company extended the lease with option to purchase agreement for Mineral Survey 1706 for an additional 5-year period. The property is part of the Homestake Paleoplacer Property, and the Company has maintained the option to purchase the mineral property for $150,000. On March 3, 2014, the Company completed the acquisition of approximately 565.24 mineral acres in the Northern Black Hills of South Dakota. The acquisition increased our mineral interests in the Homestake District by nearly 23%, to over 3,057 acres. As part of the property acquisition, the Company purchased an additional 64.39 mineral acres located immediately southwest and contiguous to our Paleoplacer Property, including mineral title to the historic Gustin, Minerva and Deadbroke Gold Mines. The purchase price of the mineral interests was $33,335. On April 5, 2017 the Company acquired options to purchase a combination of surface and mineral titles to 284 acres in the Homestake District of the Northern Black Hills of South Dakota. The acquisition included 61 acres located immediately south and contiguous with our City Creek Property; 82 acres located approximately one half mile south of our Blind Gold Property at the western fringe of the historic Maitland Gold Mine; and 141 acres located immediately north and contiguous to our Homestake Paleoplacer Property. The Company is required to make annual lease payments totaling $20,000 for a period of 5 years, of which $20,000 was due upon execution of the agreement. The Company has an option to purchase the mineral properties for total price of $626,392. As of March 31, 2019 the Company is current on all required annual lease payments. In November 2018, we acquired 42 unpatented lode mining claims covering approximately 718 acres located immediately to the north and adjacent to the Company’s City Creek Property. Through this staking, the City Creek project area was expanded from approximately 449 acres to 1,167 acres. In September, 2019 the Company completed the acquisition of 106 unpatented lode mining claims covering approximately 1,167 acres in close proximity to the historic Tinton Gold Camp. The Tinton area was the site of placer mining activity between 1876 and the turn of the century. On March 6, 2020 the Company completed the acquisition of 65 unpatented lode mining claims covering approximately 1,152 acres in the Homestake District of the Black Hills of South Dakota. The new property is contiguous to the Company's Blind Gold Property. The Company plans to commence an exploratory program on these mineral properties in June, 2020. March 31, March 31, 2020 2019 Capitalized costs $ 216,104 $ 216,104 Accumulated amortization - - Impairment - - Capitalized costs, net $ 216,104 $ 216,104

Note 6 - Income Taxes

Note 6 - Income Taxes	12 Months Ended
	Mar. 31, 2020
Notes
Note 6 - Income Taxes	Note 6 Income Taxes The following table sets forth a reconciliation of the statutory federal income tax for the years ended March 31: 2020 2019 Income tax benefit (prevision) computed at federal statutory rates $ 233,997 $ (4,400) Non-deductible stock-based compensation (41,138) (28,150) Change in valuation allowance (192,859) 32,550 Tax benefit $ - $ - The tax effects of the temporary differences between reportable financial statement income and taxable income are recognized as a deferred tax asset and liability. Significant components of the deferred tax assets are set out below along with a valuation allowance to reduce the net deferred tax asset to zero. In order to comply with generally accepted accounting principles in the United States of America, management has decided to establish a valuation allowance because of the potential that the tax benefits underlying deferred tax asset may not be realized. Significant components of our deferred tax asset at March 31 are as follows: 2020 2019 Deferred tax assets: Net operating loss carry forward $ 703,077 $ 531,246 Basis of mining properties 32,235 11,207 Less: valuation allowance (735,312) (542,453) Net deferred tax assets $ - $ - As a result of a change in control effective in September 2012, our net operating losses prior to that date may be partially or entirely unavailable, by law, to offset future income and, accordingly, are excluded from the associated deferred tax asset. The net operating loss carry forward in the approximate amount of $3,348,000 will begin to expire in 2027. We file income tax returns in the United States and in one state jurisdiction. We follow the provisions of ASC 740 relating to uncertain tax provisions and have commenced analyzing filing positions in all of the federal and state jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions. As a result of adoption, no additional tax liabilities have been recorded. There are no unrecognized tax benefits as of March 31, 2020 or March 31, 2019. The Company files income tax returns in the U.S. federal jurisdiction and in certain state jurisdictions. The Company has not been subjected to tax examinations for any year and the statute of limitations has not expired. The Company’s tax returns remain open for examination by the applicable authorities, generally 3 years for federal and 4 years for state.

Note 7 - Notes Payable

Note 7 - Notes Payable	12 Months Ended
	Mar. 31, 2020
Notes
Note 7 - Notes Payable	Note 7 Notes Payable In February 2020, we borrowed $300,000 from JR, which the note was amended and restated as described in Note 11, Subsequent Events. For the year ended March 31, 2019, the Company extinguished debt due to two entities in the amount of $660,239 consisting of $405,550 in principal and $254,689 in accrued interest. Under the statute of limitations in Nevada the debt is no longer enforceable, and the noteholders are no longer in existence. The Company recorded this transaction as gain on extinguishment of debt in the accompanying statement of operations for year ended March 31, 2019. Notes Payable to Related Party During the fiscal year ended March 31, 2019, Mr. Aberle and/or his affiliates loaned the Company an aggregate of $20,500, which loans are unsecured obligations of the Company, bearing interest at an annual rate of 3%, and are currently due on demand or past due in the amount of $21,171 as of March 31, 2020. As of March 31, 2020, the Company owed Mr. Bachman and/or his affiliates $386,309, which includes accrued interest in the amount of $81,164. These loans are unsecured obligations of the Company, bearing interest at annual rates of between 3% and 4%, and are due on demand or past due; of which $7,000 was advanced during the fiscal year ended March 31, 2019.

Note 8 - Line of Credit

Note 8 - Line of Credit	12 Months Ended
	Mar. 31, 2020
Notes
Note 8 - Line of Credit	Note 8 Line of Credit The Company executed a line of credit with Wells Fargo Bank in California. The line of credit allows the Company to borrow up to $47,500. The Line of Credit bears interest at 7.75% per annum, is unsecured, and due on demand. The balance on this line of credit at March 31, 2020 and 2019 was $30,082 and $35,165, respectively.

Note 9 - Common Stock

Note 9 - Common Stock	12 Months Ended
	Mar. 31, 2020
Notes
Note 9 - Common Stock	Note 9 Common Stock Our authorized capital stock consists of 300,000,000 shares of common stock, with a par value of $0.001 per share, and 10,000,000 preferred shares with a par value of $0.001 per share. During the 12 months ended March 31, 2020, the Company issued (i) an aggregate of 1,000,000 shares of common stock for $100,000, (ii) 500,000 shares for $50,000 upon the exercise of stock options, and (iii) 1,000,000 shares of common stock valued at $85,000 in exchange for consulting services. The Company also issued options and warrants to purchase an aggregate of 3,200,000 shares of common stock at exercise prices ranging between $0.08 and $0.10 per share, expiring through January 2025. At March 31, 2020, the total issued and outstanding shares were 65,416,787. Common Stock Options and Warrants The Company’s 2015 Omnibus Incentive Plan (the “Omnibus Plan”) authorizes the Company to grant or issue non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, cash-based awards or other stock-based awards up to a total of 15 million shares. Under the terms of the Omnibus Plan, awards may be granted to employees, directors and third-party service providers. Awards issued under the Omnibus Plan vest as determined by the board of directors at the time of grant. Any shares related to an award granted under the Omnibus Plan that terminates by expiration, forfeiture, or otherwise without the issuance of the shares shall be available again for grant under the Omnibus Plan. As of March 31, 2020, a total of 4,350,000 shares remained available for future grants under the Omnibus Plan. Outstanding stock options under the Omnibus Plan have terms ranging from 5 to 10 years. Outstanding stock options granted to third-party service providers generally vest over the period of the contract, which is typically one year. The Company recognized stock-based compensation related to issuance of stock options totaling $110,897 and $117,559 during the years ended March 31, 2020 and 2019, respectively, which is included in general and administrative expenses in the accompanying statements of operations. A summary of the Company's stock option activity and related information for the period ended March 31, 2020 is as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding at March 31, 2019 8,450,000 $ 0.08 5.83 - Options granted 2,200,000 0.08 4.6 Outstanding at March 31, 2020 10,650,000 0.08 4.78 $ 1,025,000 Options vested or expected to vest at March 31, 2020 10,650,000 0.08 4.78 1,025,000 Options exercisable at March 31, 2020 9,133,333 $ 0.08 4.81 $ 873,333 The weighted-average grant-date fair value of stock options granted during the year ended March 31, 2020 was $0.09 per share. At March 31, 2020, there was approximately $125,000 of unrecognized compensation expense related to stock options that is expected to be recognized over a weighted-average period of 0.60 years. During the year ended March 31, 2020, we estimated the fair value of each stock option on the date of grant using a Black Scholes valuation model. The weighted-average assumptions used to calculate the grant date fair value were as follows: (i) risk-free interest rate of 1.52%, (ii) estimated volatility of 249%, (iii) dividend yield of 0%, and (iv) expected life of 5 years. A summary of the Company's stock warrant activity and related information for the period ended March 31, 2020 is as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Outstanding at March 31, 2019 3,050,000 $ 0.10 1.04 Warrants granted 1,000,000 0.09 3.69 Cancelled/expired (750,000) 0.10 - Outstanding at March 31, 2020 3,300,000 $ 0.10 1.99

Note 10 - Subsequent Events

Note 10 - Subsequent Events	12 Months Ended
	Mar. 31, 2020
Notes
Note 10 - Subsequent Events	Note 10 Subsequent Events On May 18, 2020 the Company announced that its land holdings in the Black Hills had been increased through the staking of 70 unpatented lode mining claims covering approximately 1,120 acres located on the western margin of the structural corridor that extends north of the Homestake Gold Mine. The West Corridor property is located just south of the mineral property Dakota Territory acquired from Deadbroke Mining Company in the Maitland Area in March of 2014, just north of the producing Wharf Mine (Coeur Mining) and just to the south and east of the former Richmond Hill Mine (Barrick Gold). The property is a target for both Homestake Iron Formation hosted gold mineralization under the cover of younger sedimentary and igneous rocks that also host tertiary-aged replacement gold and silver mineralization in the area. Dakota Territory entered into an agreement with JR Resources Corp. (“JR”) on May 26, 2020 (“Agreement”) whereby JR loaned the Company $1,150,000 and the Company granted JR the right to purchase up to 142,566,667 shares of common stock at $0.15 per share (approximate 64.24% on a fully diluted basis) in one or more closings on or prior to October 15, 2020 (“Termination Date”). The Agreement allows Dakota to advance its current mineral property acquisition strategy with a seasoned team of mining and exploration executives with a track record of building mines and mining companies from quality assets. The Company intends to use proceeds from this loan to acquire up to $350,000 of mineral interests or properties, up to $500,000 to conduct an airborne geophysical survey, and the balance for general corporate and working capital purposes. Upon execution of this Agreement, JR and the Company entered into an amended and restated promissory note in the amount of $1,450,000, of which $300,000 was advanced in February 2020 and $1,150,000 was advanced in May 2020 as noted above. The note is unsecured and bears interest at the annual rate of 0.25%, compounded annually, payable on December 31, 2021. Upon a closing of a change of control transaction with JR as a result of the purchase of shares of common stock pursuant to the Agreement (“Change of Control Closing”), JR will be required to exercise, and will in fact be deemed to have exercised, its right to convert the principal of and accrued interest on the note into Company common stock at the rate of $0.15 per share. On the maturity date, the principal amount of the note, together with any accrued but unpaid interest, will be due and payable in cash, provided that, if and to the extent that the Company does not pay this note in cash on the maturity date, then JR will be required to exercise, and will in fact be deemed to have exercised, its right to convert such unpaid portion of the note into shares of Company common stock. The conversion price is $0.15 per share through December 31, 2020 and, thereafter, the lesser of $0.15 per share and the volume weighted average price of Company common stock for the five consecutive trading days immediately preceding the date of such conversion (with a floor of $0.10 per share). The note has customary event of default provisions and, upon an event of default, JR will be required to convert the unpaid portion of the note into shares of Company common stock, if not paid prior thereto in cash by the Company. Subject to the terms and conditions set forth in the Agreement, JR shall have the right, prior to the Termination Date, to purchase the 142,566,667 shares (for a purchase price of up to $21,385,000, reduced by the amount of note converted) in one or more closings from the Company. Each closing is subject to negotiation of closing deliverables and satisfaction of closing conditions to be mutually agreed upon by the Company and JR, including agreement on how the proceeds will be utilized. In the event of a Change of Control Closing, the closing deliverables to be negotiated and mutually agreed upon include the application of the use of proceeds, negotiation of employment agreements, agreement on equity grants pursuant to an equity compensation plan to be adopted, and amended bylaws to be adopted that will govern the appointment of JR director designees. There is no assurance that closing deliverables will be agreed upon and that any closing will occur, as JR is not obligated to purchase any of the 142,566,667 shares of common stock. On June 3, 2020 the Company secured the services of New-Sense Geophysics Ltd. to undertake a high resolution helicopter-borne district scale magnetic and radiometric survey of the Northern Black Hills of South Dakota. Robert B. Ellis (EGC Inc.) has also been engaged to consult on the design of the survey for Dakota Territory and will oversee data acquisition, provide additional processing and modeling of the data, and work with the Dakota Territory’s technical team to integrate the high resolution geophysics with the Company’s extensive geology and geochemistry data sets. This work is budgeted to be approximately $410,000. Subsequent to March 31, 2020, outstanding warrants entitling the holders to purchase an aggregate of 2,200,000 shares of common stock were exercised. We received proceeds in the amount of $220,000 from the exercise of these warrants.

Note 1 - Organization and Nat_2

Note 1 - Organization and Nature of Business: Going Concern (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Going Concern	Going Concern These financial statements have been prepared assuming that the Company will continue as a going concern. The Company has an accumulated deficit from inception through March 31, 2020 of approximately $5,378,000 and has yet to achieve profitable operations, and projects further losses in the development of its business. At March 31, 2020, the Company had a working capital deficit of approximately $2,794,000. The Company’s ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. These financial statements do not include any adjustments to the amounts and classifications of assets and liabilities that may be necessary should we be unable to continue as a going concern. We anticipate that additional funding will be in the form of equity financing from the sale of common stock, such as the JR Resources Corp. transaction discussed further in Note 10 – Subsequent Events, and/or debt financing. However, there can be no assurance that the JR Resources transaction will close or that other capital will be available on terms acceptable to the Company. The issuances of additional equity securities by the Company would result in a dilution in the equity interests held by current shareholders. The Company may also seek to obtain short-term loans from the directors of the Company. Based on these factors, there is substantial doubt as the Company’s ability to continue as a going concern.

Note 2 - Summary of Accountin_2

Note 2 - Summary of Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Basis of Presentation	Basis of Presentation Our financial records are maintained on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Note 2 - Summary of Accountin_3

Note 2 - Summary of Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2 - Summary of Accountin_4

Note 2 - Summary of Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Cash and cash equivalents consist of demand deposits at commercial banks.

Note 2 - Summary of Accountin_5

Note 2 - Summary of Accounting Policies: Revenue Recognition (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Revenue Recognition	Revenue Recognition The Company recognizes revenue when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for the goods or services. The Company has yet to generate any revenue.

Note 2 - Summary of Accountin_6

Note 2 - Summary of Accounting Policies: Mineral Property Costs (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Mineral Property Costs	Mineral Property Costs We have been in the exploration stage since inception and have not yet realized any revenues from our planned operations. All exploration expenditures are expensed as incurred. Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Mine development costs incurred to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. If we do not continue with exploration after the completion of the feasibility study, the associated capitalized costs will be expensed at that time. Costs of abandoned projects are charged to mining costs including related property and equipment costs. To determine if the capitalized mineral property costs are in excess of their recoverable amount, we conduct periodic evaluation of the carrying value of capitalized costs and any related property and equipment costs based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets

Note 2 - Summary of Accountin_7

Note 2 - Summary of Accounting Policies: Fair Value Measurements (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Fair Value Measurements	Fair Value Measurements We account for assets and liabilities measured at fair value in accordance with ASC 820, Fair Value Measurements and Disclosures · · · Our financial instruments consist principally of cash, accounts payable, accrued liabilities and notes payable. The carrying amounts of such financial instruments in the accompanying financial statements approximate their fair values due to their relatively short-term nature or the underlying terms are consistent with market terms. It is management’s opinion that the Company is not exposed to any significant currency or credit risks arising from these financial instruments.

Note 2 - Summary of Accountin_8

Note 2 - Summary of Accounting Policies: Environmental Costs (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Environmental Costs	Environmental Costs Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to an existing condition caused by past operations, and which do not contribute to current or future revenue general, are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable, and the cost can be reasonably estimated. Generally, the timing of these accruals coincides with the earlier of completion of a feasibility study or the Company’s commitments to plan of action based on the then known facts.

Note 2 - Summary of Accountin_9

Note 2 - Summary of Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method, in accordance with ASC 740, Income Taxes

Note 2 - Summary of Accounti_10

Note 2 - Summary of Accounting Policies: Basic and Diluted Loss Per Share (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share The Company computes basic and diluted income (loss) per share amounts pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic loss per share is computed by dividing net income (loss) available to common shareholders, by the weighted average number of shares of common stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted income (loss) per share is computed by dividing net income (loss) available to common shareholders by the diluted weighted average number of shares of common stock during the period. The diluted weighted average number of common shares outstanding is the basic weighted number of shares adjusted for the dilutive effect of potential future issuances of common stock related to outstanding options and warrants. The dilutive effect of outstanding options and warrants is reflected in diluted earnings per share by application of the treasury stock method. The effect of the Company’s outstanding options and warrants were excluded for the years ended March 31, 2020 and 2019, because they were anti-dilutive.

Note 2 - Summary of Accounti_11

Note 2 - Summary of Accounting Policies: Stock-Based Compensation (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Stock-Based Compensation	Stock-Based Compensation The Company estimates the fair value of share-based compensation using the Black-Scholes valuation model, in accordance with the provisions of ASC 718, Compensation - Stock Compensation ASC 505, Equity

Note 2 - Summary of Accounti_12

Note 2 - Summary of Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Mar. 31, 2020
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting Pronouncements between March 31, 2020 and the date of this filing are not expected to have a significant impact on our operations, financial position, or cash flow, nor does the Company expect the adoption of recently issued, but not yet effective, accounting pronouncements to have a significant impact on our results of operations, financial position or cash flows.

Note 3 Revision and Immateria_2

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements: Revised Balance Sheet (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Revised Balance Sheet	Balance Sheet As of March 31, 2019 Previously Reported Adjustments As Revised Total assets $ 377,545 $ - $ 377,545 Accounts payable and accrued liabilities 325,896 (100,000) 225,896 Total liabilities 2,287,365 (100,000) 2,187,365 Common stock 63,217 (300) 62,917 Additional paid-in capital 2,391,945 (1,212) 2,390,733 Accumulated deficit (4,364,982) 101,512 (4,263,470) Total shareholders’ equity (1,909,820) 100,000 (1,809,820) Total liabilities and shareholders’ deficit $ 377,545 $ - 377,545

Note 3 Revision and Immateria_3

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements: Revised Statement of Operations (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Revised Statement of Operations	Statement of Operations For the Year Ended March 31, 2019 Previously Reported Adjustments As Revised General and administrative expenses 554,067 $ (1,512) $ 552,555 Loss from operations (607,434) 1,512 (605,922) Net loss 19,439 1,512 20,951 Net loss per share: Basic and diluted 0 $ 0 $ 0

Note 3 Revision and Immateria_4

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements: Revised Statement of Changes in Shareholders' Deficit (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Revised Statement of Changes in Shareholders' Deficit	Statement of Changes in Shareholders’ Deficit For the Year Ended March 31, 2019 Previously Reported Adjustments As Revised Common stock (shares): Shares issued for services 600,000 (300,000) 300,000 Balance at March 31, 2019 63,216,787 (300,000) 62,916,787 Common stock (amount): Shares issued for services 600 $ (300) $ 300 Balance at March 31, 2019 63,217 (300) 62,917 Additional paid-in capital: Shares issued for services 17,400 (1,212) 16,188 Balance at March 31, 2019 2,391,945 (1,212) 2,390,733 Accumulated deficit: Balance at March 31, 2018 (4,384,421) 100,000 (4,284,421) Net loss 19,439 1,512 20,951 Balance at March 31, 2019 (4,364,982) 101,512 (4,263,470) Total shareholders’ deficit (1,909,820) $ 100,000 $ (1,809,820)

Note 5 - Mineral Properties_ Sc

Note 5 - Mineral Properties: Schedule of Mineral Properties Costs (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of Mineral Properties Costs	March 31, March 31, 2020 2019 Capitalized costs $ 216,104 $ 216,104 Accumulated amortization - - Impairment - - Capitalized costs, net $ 216,104 $ 216,104

Note 6 - Income Taxes_ Schedule

Note 6 - Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	2020 2019 Income tax benefit (prevision) computed at federal statutory rates $ 233,997 $ (4,400) Non-deductible stock-based compensation (41,138) (28,150) Change in valuation allowance (192,859) 32,550 Tax benefit $ - $ -

Note 6 - Income Taxes_ Schedu_2

Note 6 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	2020 2019 Deferred tax assets: Net operating loss carry forward $ 703,077 $ 531,246 Basis of mining properties 32,235 11,207 Less: valuation allowance (735,312) (542,453) Net deferred tax assets $ - $ -

Note 9 - Common Stock_ Schedule

Note 9 - Common Stock: Schedule of Share-based Compensation, Stock Options, Activity (Tables)	12 Months Ended
	Mar. 31, 2020
Tables/Schedules
Schedule of Share-based Compensation, Stock Options, Activity	Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Aggregate Intrinsic Value Outstanding at March 31, 2019 8,450,000 $ 0.08 5.83 - Options granted 2,200,000 0.08 4.6 Outstanding at March 31, 2020 10,650,000 0.08 4.78 $ 1,025,000 Options vested or expected to vest at March 31, 2020 10,650,000 0.08 4.78 1,025,000 Options exercisable at March 31, 2020 9,133,333 $ 0.08 4.81 $ 873,333

Note 1 - Organization and Nat_3

Note 1 - Organization and Nature of Business (Details)	12 Months Ended
	Mar. 31, 2020
Details
Entity Incorporation, State or Country Code	NV
Entity Incorporation, Date of Incorporation	Feb. 6, 2002

Note 1 - Organization and Nat_4

Note 1 - Organization and Nature of Business: Going Concern (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Details
Accumulated deficit	$ (5,378,000)	$ (4,263,470)

Note 3 Revision and Immateria_5

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements: Revised Balance Sheet (Details)	Mar. 31, 2019USD ($)
Previously Reported
Total assets	$ 377,545
Accounts payable and accrued liabilities	325,896
Total liabilities	2,287,365
Common Stock	63,217
Additional paid-in capital	2,391,945
Accumulated deficit	(4,364,982)
Total shareholders' equity	(1,909,820)
Total liabilities and shareholders' deficit	377,545
Scenario, Adjustment
Total assets	0
Accounts payable and accrued liabilities	(100,000)
Total liabilities	(100,000)
Common Stock	(300)
Additional paid-in capital	(1,212)
Accumulated deficit	101,512
Total shareholders' equity	100,000
Total liabilities and shareholders' deficit	0
As Revised
Total assets	377,545
Accounts payable and accrued liabilities	225,896
Total liabilities	2,187,365
Common Stock	62,917
Additional paid-in capital	2,390,733
Accumulated deficit	(4,263,470)
Total shareholders' equity	(1,809,820)
Total liabilities and shareholders' deficit	$ 377,545

Note 3 Revision and Immateria_6

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements: Revised Statement of Operations (Details)	12 Months Ended
	Mar. 31, 2019USD ($)$ / shares
Previously Reported
General and administrative expenses	$ 554,067
Loss from operations	(607,434)
Net Income (Loss)	$ 19,439
Basic and diluted net loss per common share | $ / shares	$ 0
Scenario, Adjustment
General and administrative expenses	$ (1,512)
Loss from operations	1,512
Net Income (Loss)	$ 1,512
Basic and diluted net loss per common share | $ / shares	$ 0
As Revised
General and administrative expenses	$ 552,555
Loss from operations	(605,922)
Net Income (Loss)	$ 20,951
Basic and diluted net loss per common share | $ / shares	$ 0

Note 3 Revision and Immateria_7

Note 3 Revision and Immaterial Correction of an Error in Previously Issued Financial Statements: Revised Statement of Changes in Shareholders' Deficit (Details)	12 Months Ended
	Mar. 31, 2019USD ($)shares
Previously Reported
Equity Balance	$ (4,364,982)
Net Income (Loss)	19,439
Total shareholders' equity	$ (1,909,820)
Previously Reported | Common Stock
Stock Issued During Period, Shares, Issued for Services | shares	600,000
Shares, Outstanding | shares	63,216,787
Common stock issued for services	$ 600
Equity Balance	63,217
Previously Reported | Additional Paid-in Capital
Common stock issued for services	17,400
Equity Balance	2,391,945
Previously Reported | Retained Earnings
Equity Balance	(4,384,421)
Scenario, Adjustment
Equity Balance	101,512
Net Income (Loss)	1,512
Total shareholders' equity	$ 100,000
Scenario, Adjustment | Common Stock
Stock Issued During Period, Shares, Issued for Services | shares	(300,000)
Shares, Outstanding | shares	(300,000)
Common stock issued for services	$ (300)
Equity Balance	(300)
Scenario, Adjustment | Additional Paid-in Capital
Common stock issued for services	(1,212)
Equity Balance	(1,212)
Scenario, Adjustment | Retained Earnings
Equity Balance	100,000
As Revised
Equity Balance	(4,263,470)
Net Income (Loss)	20,951
Total shareholders' equity	$ (1,809,820)
As Revised | Common Stock
Stock Issued During Period, Shares, Issued for Services | shares	300,000
Shares, Outstanding | shares	62,916,787
Common stock issued for services	$ 300
Equity Balance	62,917
As Revised | Additional Paid-in Capital
Common stock issued for services	16,188
Equity Balance	2,390,733
As Revised | Retained Earnings
Equity Balance	$ (4,284,421)

Note 4 - Related Party Transa_2

Note 4 - Related Party Transactions (Details)	12 Months Ended
	Mar. 31, 2020
Transaction 2
Related Party Transaction, Date	Feb. 24, 2012
Related Party Transaction, Description of Transaction	we began paying consulting fees to Jerikodie, Inc.
Transaction 1
Related Party Transaction, Date	Oct. 1, 2005
Related Party Transaction, Description of Transaction	we began paying a management consulting fee to Minera Teles Pires Inc.

Note 5 - Mineral Properties_ _2

Note 5 - Mineral Properties: Schedule of Mineral Properties Costs (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Details
Mineral Properties, Capitalized costs	$ 216,104	$ 216,104
Mineral Properties, Accumulated amortization	0	0
Mineral Properties, Capitalized costs, net	$ 216,104	$ 216,104

Note 6 - Income Taxes_ Schedu_3

Note 6 - Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ 233,997	$ (4,400)
Non-deductible stock-based compensation	(41,138)	(28,150)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	(192,859)	32,550
Income Tax Expense (Benefit)	$ 0	$ 0

Note 6 - Income Taxes_ Schedu_4

Note 6 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Deferred Tax Assets, Operating Loss Carryforwards, Components
Deferred Tax Assets, Operating Loss Carryforwards	$ 703,077	$ 531,246
Deferred Tax Assets, Valuation Allowance	(735,312)	(542,453)
Deferred Tax Assets, Net of Valuation Allowance	0	0
Basis of mining properties	$ 32,235	$ 11,207

Note 8 - Line of Credit (Detail

Note 8 - Line of Credit (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Line of Credit Facility, Description	Company executed a line of credit with Wells Fargo Bank in California
Line of Credit Facility, Maximum Borrowing Capacity	$ 47,500
Line of Credit Facility, Interest Rate During Period	7.75%
Line of Credit Facility, Collateral	unsecured
Line of Credit Facility, Covenant Terms	due on demand
Convertible Note Payable
Line of Credit Facility, Fair Value of Amount Outstanding	$ 30,082	$ 35,165

Note 9 - Common Stock (Details)

Note 9 - Common Stock (Details) - $ / shares	Mar. 31, 2019	Mar. 31, 2020
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	62,916,787	65,416,787
Stock Warrants
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance		3,050,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance		$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year 14 days	1 year 11 months 26 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 0.09
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period		(750,000)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price		$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	3,050,000	3,300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 0.10	$ 0.10

Note 9 - Common Stock_ Schedu_2

Note 9 - Common Stock: Schedule of Share-based Compensation, Stock Options, Activity (Details) - Stock Options - USD ($)	Mar. 31, 2019	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance		8,450,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance		$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	5 years 9 months 29 days	4 years 9 months 11 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		2,200,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	8,450,000	10,650,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 0.08	$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 0	$ 1,025,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		9,133,333
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price		$ 0.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term		4 years 9 months 22 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value		$ 873,333

Note 10 - Subsequent Events (De

Note 10 - Subsequent Events (Details)	12 Months Ended
	Mar. 31, 2020
Event #1
Subsequent Event, Date	May 18, 2020
Subsequent Event, Description	Company announced that its land holdings in the Black Hills had been increased through the staking of 70 unpatented lode mining claims
Event #2
Subsequent Event, Date	Jun. 3, 2020
Subsequent Event, Description	Company secured the services of New-Sense Geophysics Ltd. to undertake a high resolution helicopter-borne district scale magnetic and radiometric survey
Event #3
Subsequent Event, Description	outstanding warrants entitling the holders to purchase an aggregate of 2,200,000 shares of common stock were exercised