Panex Resources (DBGF) Inactive S-1/A22 Jan 15IPO registration (amended)Financial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Nov. 30, 2014	Jan. 14, 2015
Document And Entity Information
Entity Registrant Name	Panex Resources Inc.
Entity Central Index Key	1345756
Document Type	S-1
Document Period End Date	30-Nov-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-23
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,416,136,507

Balance_Sheets

Balance Sheets (USD $)	Nov. 30, 2014	Aug. 31, 2014	Aug. 31, 2013
Current Assets
Investment	$632,447	$1,351,587
Cash	40,356	2,524	519
Total Current Assets	672,803	1,354,111	519
Total Assets (all current)	672,803	1,354,111	519
Current Liabilities
Accounts payable and accrued expenses	44,763	42,922	63,344
Accounts payable and accrued expenses related parties (Notes (b))		45,523	163,643
Loans and borrowings, related party		35,000
Loans and borrowings			336,987
Total Liabilities (all current)	44,763	123,445	336,987
Stockholders' Equity (Deficiency)
Common stock Authorized: 2,000,000,000 common shares with par value of $0.001 each Issued and outstanding: 1,416,136,507 (August 31, 2014: 1,416,136,507) common shares	1,416,136	1,416,136	118,261
Additional paid-in capital	13,131,129	13,131,129	13,080,699
Donated capital	77,627	77,627	77,627
Accumulated deficit during the exploration stage	-13,996,852	-13,394,226	13,613,055
Stockholders' equity (deficiency)		1,230,666	-336,468
Total liabilities and stockholders' equity (deficiency)	$672,803	$1,354,111	$519

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Nov. 30, 2014	Aug. 31, 2014	Aug. 31, 2013
Balance Sheets Parenthetical
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	2,000,000,000	500,000,000	500,000,000
Common stock, shares issued	1,416,136,507	1,416,136,507	118,261,507
Common stock, shares outstanding	1,416,136,507	1,416,136,507	118,261,507

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended				12 Months Ended
Statements of Operations (USD $)	Nov. 30, 2014		Nov. 30, 2013		Aug. 31, 2014	Aug. 31, 2013
Statements Of Operations
Listing and filing fees	$3,538		$3,631		$2,396	$14,686
Investor relation expense	16,944		80,975			181,457
Management fees					61,431
Professional fees	38,412		42,900		112,762	209,325
Travel costs	5,095					12,640
General and administrative	20,089		76,290		163,709	192,407
Foreign currency transaction loss	5,184				1,037	-20,021
Mineral property and exploration costs	2,384		329,080			1,388,295
Total operating expenses	91,646		532,876		341,335	1,978,789
Other income (expense)
Interest expense					-36
Gain (Loss) on sale of investment	-3,060				1,981,344
Investment revaluation	-507,921				216,270
Extinguishment of liabilities						-197,745
Total other income (expenses)	-510,981				197,709	2,197,614
Net income (loss)	($602,627)		($532,876)		$218,825	($143,626)
Net income (loss) per share - basic and diluted	$0	[1]	$0	[1]	$0	$0
Weighted average shares outstanding	1,416,136,507		159,594,840		109,097,123	397,269,510

[1]	Amounts are less than $0.01 per share

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	3 Months Ended		12 Months Ended
Statements of Cash Flows (USD $)	Nov. 30, 2014	Nov. 30, 2013	Aug. 31, 2014	Aug. 31, 2013
Cash Flows from Operating Activities
Net (loss) income	($602,627)	($532,876)	$218,825	($143,626)
Adjustment to reconcile net loss to net cash used in operating activities:
Foreign currency transaction loss (gain)	5,184		-2,021	1,031
(Gain) Loss on sale of investment	3,060		-1,981,344
Investment revaluation	507,921		-216,270
Extinguishment of liabilities				-197,745
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable and accrued liabilities	1,841	146,883	205,983	25,190
Increase (decrease) in amounts due to related parties	-45,523	63,011	-18,120	132,049
Net cash used in operating activities	-130,144	-322,982	-1,810,947	-183,101
Cash Flows from Investing Activities
Cash received from sale of investment	208,159
Net cash used in investing activities	208,159
Cash Flows from Financing Activities
Loan from related parties			94,000
Loan (repaid) to related parties	-35,000	50,000	9,000
Loan from unrelated third parties			846,027	110,000
Common shares issued for cash			861,900
Advance received for common stock subscriptions		278,400
Net cash provided by financing activities	-35,000	328,400	1,792,927	110,000
Effect of exchange rates on cash	-5,183		20,025	7,821
Increase (decrease) in cash	37,832	5,418	2,005	-65,280
Cash, beginning of period	2,524	519	519	65,799
Cash, end of period	$40,356	$5,937	$2,524	$519

Statement_of_Stockholders_Equi

Statement of Stockholders' Equity (USD $)	Common Stock	Additional Paid-In Capital	Donated Capital	Retained Earnings / Accumulated Deficit	Total
Beginning Balance, amount at Aug. 31, 2012	$103,261	$13,020,699	($13,469,429)	($267,842)
Beginning Balance, shares at Aug. 31, 2012	103,261,507
Common stock issued for settlement of debt, shares	15,000,000
Common stock issued for settlement of debt, value	15,000	60,000		75,000
Net income (loss) for the period			-143,626	-143,626
Ending Balance, amount at Aug. 31, 2013	118,261	13,080,699	-13,613,055	-336,468	-336,468
Ending Balance, shares at Aug. 31, 2013	118,261,507
Common stock issued for settlement of debt, shares	1,257,575,000
Common stock issued for settlement of debt, value	1,257,575			1,257,575
Common stock issued for cash, shares	40,300,000
Common stock issued for cash, value	40,300			40,300
Extinguishment of liabilities with related party		50,430		50,430
Net income (loss) for the period			218,829	218,827	218,825
Ending Balance, amount at Aug. 31, 2014	$1,416,136	$13,131,129	($13,394,226)	$1,230,666	$1,230,666
Ending Balance, shares at Aug. 31, 2014	1,416,136,507

Organization_Nature_of_Busines

Organization, Nature of Business, Going Concern and Management's Plans	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Organization, Nature of Business, Going Concern and Management's Plans	Panex Resources Inc. (‘Panex” or the “Company”) was incorporated in the State of Nevada on May 28, 2004. The Company is considered to be an Exploration Stage Company. The Company’s principal business is the acquisition and exploration of mineral resources.	Panex Resources Inc. (‘Panex” or the “Company”) was incorporated in the State of Nevada on May 28, 2004. The Company is considered to be an Exploration Stage Company. The Company’s principal business is the acquisition and exploration of mineral resources.

	Going concern and management’s plans:	Going concern and management’s plans:

	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Since its inception on May 28, 2004, the Company has not generated revenue and has incurred net losses.	The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Since its inception on May 28, 2004, the Company has not generated revenue and has incurred net losses.

	The Company incurred a net loss of $602,627 for the three months ended November 30, 2014, and a deficit accumulated during the exploration stage of $13,996,852 for the period May 28, 2004 (inception) through November 30, 2014.	The Company generated income of $218,825 for the year ended August 31, 2014, and a deficit accumulated during the exploration stage of $13,394,226 for the period May 28, 2004 (inception) through August 31, 2014.

	Accordingly, it has not generated cash flow from operations and has primarily relied upon advances from shareholders and proceeds from equity financings to fund its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.	Accordingly, it has not generated cash flow from operations and has primarily relied upon advances from shareholders and proceeds from equity financings to fund its operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

	The Company has no mineral property interests as of the date of this report. Certain mineral property interests are presently being considered, however it is too early to determine whether they may be considered appropriate for acquisition.	The Company has no mineral property interests as of the date of this report. Certain mineral property interests are presently being considered, however it is too early to determine whether they may be considered appropriate for acquisition.

	During the next 12 months, management’s objective is to recapitalize Panex, continue to raise new capital and to seek new investment opportunities in the mineral sector. Management believes that its worldwide industry contacts will make it possible to identify and assess new projects for acquisition purposes.	During the next 12 months, management’s objective is to recapitalize Panex, continue to raise new capital and to seek new investment opportunities in the mineral sector. Management believes that its worldwide industry contacts will make it possible to identify and assess new projects for acquisition purposes.

	Panex is seeking a viable business opportunity through acquisition, merger or other suitable business combination method, with a focus on undervalued mineral properties for eventual acquisition. Panex intends to concentrate its acquisition efforts on mineral properties or mineral exploration businesses that management believes to be undervalued or that management believes may realize a substantial benefit from being publicly owned. Panex will continue to identify and assess undervalued mineral properties when capital raisings are completed. A small number of mineral properties are presently being reviewed, but it is too early to say whether they may be considered appropriate for acquisition.	Panex is seeking a viable business opportunity through acquisition, merger or other suitable business combination method, with a focus on undervalued mineral properties for eventual acquisition. Panex intends to concentrate its acquisition efforts on mineral properties or mineral exploration businesses that management believes to be undervalued or that management believes may realize a substantial benefit from being publicly owned. Panex will continue to identify and assess undervalued mineral properties when capital raisings are completed. A small number of mineral properties are presently being reviewed, but it is too early to say whether they may be considered appropriate for acquisition.

	The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts or classification of liabilities that may result from the possible inability of the Company to continue as a going concern.	The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts or classification of liabilities that may result from the possible inability of the Company to continue as a going concern.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended	12 Months Ended
Summary of Significant Accounting Policies	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Summary of Significant Accounting Policies	a. Basis of Preparation	a. Basis of Preparation

	These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (US GAAP). The Company’s fiscal year-end is August 31.	These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (US GAAP). The Company’s fiscal year-end is August 31.

	b. Use of Estimates	b. Use of Estimates

	The preparation of financial statements in conformity with US GAAP 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. Actual results could differ from those estimates.	The preparation of financial statements in conformity with US GAAP 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. Actual results could differ from those estimates.

	c. Basic and Diluted Net Income (Loss) Per Share	c. Basic and Diluted Net Income (Loss) Per Share

	Earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period including common stock issued effective the date committed. Common stock issuable is considered outstanding as of the original approval date for the purposes of earnings per share computations. Diluted earnings (loss) per common share is computed by dividing net earnings (loss) by the sum of (a) the basic weighted average number of shares of common stock outstanding during the period and (b) additional shares that would have been issued and potentially dilutive securities. During the reporting periods the diluted earnings (loss) per share was equivalent to the basic earnings (loss) per share because all potentially dilutive securities were anti-dilutive due to the net losses incurred. Potentially dilutive securities consist of stock options outstanding at the end of the reporting period.	Earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period including common stock issued effective the date committed. Common stock issuable is considered outstanding as of the original approval date for the purposes of earnings per share computations. Diluted earnings (loss) per common share is computed by dividing net earnings (loss) by the sum of (a) the basic weighted average number of shares of common stock outstanding during the period and (b) additional shares that would have been issued and potentially dilutive securities. During the reporting periods the diluted earnings (loss) per share was equivalent to the basic earnings (loss) per share because all potentially dilutive securities were anti-dilutive due to the net losses incurred. Potentially dilutive securities consist of stock options outstanding at the end of the reporting period.

	d. Cash	d. Cash

	Cash includes deposits in banks, which are unrestricted as to withdrawal or use.	Cash includes deposits in banks, which are unrestricted as to withdrawal or use.

	e. Investments in Securities	e. Investments in Securities

	The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses are recognized in earnings. At November 30, 2014 investments consist of 43,705,232 shares (August 31, 2014, 55,705,232 shares) of Burey Gold Ltd., an Australian listed entity, which were acquired in August 2014 (note 7) and are accounted for as trading securities. Unrealized losses for the three months ended November 30, 2014 were approximately $508,000 (August 31, 2014 a gain of approximately $216,000).	The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. Marketable securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses are recognized in earnings. At August 31, 2014, investments consist of 55,705,232 shares of Burey Gold Ltd., an Australian listed entity, which were acquired in August 2014 (note 7) and are accounted for as trading securities. Unrealized gains through August 31, 2014 were approximately $216,000.

	f. Mineral Property and Exploration Costs	f. Mineral Property and Exploration Costs

	The Company has been in the exploration stage since its formation on May 28, 2004 and has not realized any revenues from its planned operations. It has been primarily engaged in the acquisition and exploration of mining properties. Mineral property acquisition and exploration costs 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 develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.	The Company has been in the exploration stage since its formation on May 28, 2004 and has not realized any revenues from its planned operations. It has been primarily engaged in the acquisition and exploration of mining properties. Mineral property acquisition and exploration costs 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 develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations.

	g. Fair Value Measurements	g. Fair Value Measurements

	Fair value is defined 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 in the principal or most advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of input to determine fair value.	Fair value is defined 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 in the principal or most advantageous market. The Company uses a fair value hierarchy that has three levels of inputs, both observable and unobservable, with use of the lowest possible level of input to determine fair value.

	Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities;	Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities;

	Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and	Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and

	Level 3 - assets and liabilities whose significant value drivers are unobservable.	Level 3 - assets and liabilities whose significant value drivers are unobservable.

	The Company's investments are classified as Level 1 and there are no Level 2 or 3 assets or liabilities.	As of August 31, 2014, the Company's investments are classified as Level 1 and there are no Level 2 or Level 3 assets or liabilities.

	Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment.	Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may fall into different levels of the fair value hierarchy. In those instances, the fair value measurement is required to be classified using the lowest level of input that is significant to the fair value measurement. Such determination requires significant management judgment.

	Financial instruments, which include cash, accounts payable, and loans and borrowings, were estimated to approximate their carrying values due to the immediate or short-term maturity of these financial instruments. The fair value of amounts due to related parties are not practical to estimate, due to the related party nature of the underlying transactions. The financial risk to the Company’s operations arises from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.	Financial instruments, which include cash, accounts payable, and loans and borrowings, were estimated to approximate their carrying values due to the immediate or short-term maturity of these financial instruments. The fair value of amounts due to related parties are not practical to estimate, due to the related party nature of the underlying transactions. The financial risk to the Company’s operations arises from fluctuations in foreign exchange rates and the degree of volatility of these rates. Currently, the Company does not use derivative instruments to reduce its exposure to foreign currency risk.

	h. Income Taxes	h. Income Taxes

	The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases, as well as net operating losses.	The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases, as well as net operating losses.

	Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets or liabilities of a change in tax rates is recognized in the period in which the tax change occurs. A valuation allowance is provided to reduce the deferred tax assets to a level, that more likely than not, will be realized.	Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets or liabilities of a change in tax rates is recognized in the period in which the tax change occurs. A valuation allowance is provided to reduce the deferred tax assets to a level, that more likely than not, will be realized.

	Management does not believe that the Company has any unrecognized tax positions. The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.	Management does not believe that the Company has any unrecognized tax positions. The Company’s policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense.

	i. Stock-Based Compensation	i. Stock-Based Compensation

	The Company accounts for share-based payments under the fair value method of accounting for stock-based compensation consistent with US GAAP. Under the fair value method, stock-based compensation cost is measured at the grant date based on the fair value of the award using the Black-Sholes option pricing model and is recognized to expense on a straight-line basis over the requisite service period, which is generally the vesting period. Where upon grant the options vest immediately the stock-based costs are expensed immediately. During the current period, there are no options outstanding.	The Company accounts for share-based payments under the fair value method of accounting for stock-based compensation consistent with US GAAP. Under the fair value method, stock-based compensation cost is measured at the grant date based on the fair value of the award using the Black-Sholes option pricing model and is recognized to expense on a straight-line basis over the requisite service period, which is generally the vesting period. Where upon grant the options vest immediately the stock-based costs are expensed immediately.

	j. Foreign Currency Translation and Transactions	j. Foreign Currency Translation and Transactions

	The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated into the United States dollar using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income.	The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated into the United States dollar using the exchange rate prevailing at the balance sheet date. Gains and losses arising on settlement of foreign currency denominated transactions or balances are included in the determination of income.

	k. Concentration of Credit Risk	k. Concentration of Credit Risk

	The Company’s financial instruments that are exposed to concentration of credit risk consist of cash. The Company’s cash is in demand deposit accounts placed with federally insured financial institutions in Canada.	The Company’s financial instruments that are exposed to concentration of credit risk consist of cash. The Company’s cash is in demand deposit accounts placed with federally insured financial institutions in Canada.

	l. Interim Financial Statements	l. Recent Accounting Pronouncements

	In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments which include only normal recurring adjustments, necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods shown. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period.	In June 2014, the Financial Accounting Standards Board issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company has elected to early adopt this standard commencing for the reporting period August 31, 2014.

m. Recent Accounting Pronouncements	In May 2014, FASB issued ASU No. 2014-09 “Revenue from Contracts from Customers,” which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605),” and requires entities to recognize revenue in a way that depicts the transfer of potential goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to the exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early adoption not permitted. The Company is currently evaluating the new standard and assessing the potential impact on its operations and financial statements.

In June 2014, the Financial Accounting Standards Board issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company has elected to early adopt this standard commencing for the reporting period August 31, 2014.	Management has evaluated other recently issued accounting pronouncements to determine their applicability and does not believe that any of these pronouncements will have a significant impact on the Company’s financial statements.

In May 2014, FASB issued ASU No. 2014-09 “Revenue from Contracts from Customers,” which supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605),” and requires entities to recognize revenue in a way that depicts the transfer of potential goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to the exchange for those goods or services. ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early adoption not permitted. The Company is currently evaluating the new standard and assessing the potential impact on its operations and financial statements.

Management has evaluated other recently issued accounting pronouncements to determine their applicability and does not believe that any of these pronouncements will have a significant impact on the Company’s financial statements.

Stock_Options

Stock Options	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Stock Options	In August 2012, the Company's Board of Directors approved the issuance of stock options as an incentive to obtain services of key employees, directors and consultants of the Company. For the periods presented there were no stock options outstanding.	In August 2012, the Company's Board of Directors approved the issuance of stock options as an incentive to obtain services of key employees, directors and consultants of the Company. The following is a summary of stock option activity and the status of stock options outstanding and exercisable at August 31, 2014:


			Stock	Weighted	Remaining	Aggregate
			Options	Average	Contractual	Intrinsic value
				Exercise Price	Life (years)
			#	$	As At	As At
		Outstanding and exercisable	-	-	-	-
		at August 31, 2011
		Granted on August 3, 2012	8,000,000	0.08	4.92	-
		Outstanding and exercisable	8,000,000	0.08	4.92	-
		at August, 31, 2012
		Granted during the fiscal year	-	-	-	-
		ended August 31, 2013
		Forfeited during the fiscal year	(8,000,000)	0.08	4.17	-
		ended August 31, 2013
		Outstanding and exercisable	-	-	-	-
		at August 31, 2013
		Granted during the fiscal year	-	-	-	-
		ended August 31, 2014
		Outstanding and exercisable	-	-	-	-
		at August 31, 2014

		The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value for all “in-the-money” options (i.e. the difference between the Company’s closing stock price on the last trading day of the fiscal year and the exercise price, multiplied by the number of shares) that would have been received by the option holders had all option holders exercised their options.

		Effective August 3, 2012, the Company’s board of directors granted 8,000,000 stock purchase options. Each of the options has an issue date, effective date and vesting date of August 3, 2012, with an exercise price of $0.08 per share. The term of these options is five years. The options are exercisable at any time from the grant date up to and including August 2, 2017. All related compensation expense was recognized on August 31, 2012 as the options were vested in full on that date.

		On June 20, 2013, Panex reached an agreement with Klaus Eckhof and Ross Doyle to cancel all of their outstanding stock options with Panex. As a result of the cancellation of the 8,000,000 stock options, Panex currently has no outstanding stock options as at August 31, 2013. The Company previously expensed all compensation related to the stock options; accordingly the cancellation had no impact on earnings.

Related_Party_Transactions

Related Party Transactions	3 Months Ended		12 Months Ended
Related Party Transactions	Nov. 30, 2014		Aug. 31, 2014
Notes to Financial Statements
Related Party Transactions			a. During the year ended August 31, 2014 Coresco forgave money owing for an amount of $50,430, which is reported as an extinguishment of liabilities in the Statements of Stockholder’s equity (deficiency) (August 31, 2013: Nil).
	a.	During the year ended August 31, 2014 Coresco forgave money owing for an amount of $50,430, which was reported as an extinguishment of liabilities in the Statements of Stockholder’s equity (deficiency) (November 30, 2014: $Nil).
			b. During November 2013, Ross Doyle, CFO, loaned the Company $50,000 as a short term unsecured bridge loan at an interest rate of 0% (November 30, 2012: Nil). The loan was subsequently debt settled for shares issued during the year ended August 31, 2014.
	b.	During November 2013, Ross Doyle, CFO, loaned the Company $50,000 as a short term unsecured bridge loan at an interest rate of 10% (November 30, 2014: Nil). The loan was subsequently debt settled for shares issued during the year ended August 31, 2014.
			c. The Company incurred $199,617 (including 38,523 of management fees) respectively in total for management, exploration and contractor expenses during the fiscal year ended August 31, 2014 (August 31, 2013: $172,016 (including $43,076 of management fees). This amount is a combination of exploration contracting services, the CEO, Non Executive Director and CFO of the Company. Total management fees for Coresco are contracted at 20,000 Swiss Francs per month and comprise office rental, infrastructure, investor meeting rooms, company secretarial services, CEO, CFO, Technical Services and Non Executive Director fees. This agreement was entered on December 1, 2011, and can be terminated with 6 months notice subsequent to December 31, 2012. As of August 31, 2014, the Company has an accrued liability of $45,523 for these services due to this related party (August 31, 2013: $163,643).
	c.	The Company incurred $36,819 in total for management, exploration and contractor expenses during the quarter ended November 30, 2014 (November 30, 2013: $107,572). This amount is a combination of exploration contracting services, the CEO, Non-Executive Director, Company Secretarial and CFO of the Company. Total management fees for Coresco are determined in relation to the level of services required and comprise office rental, infrastructure, investor meeting rooms, company secretarial services, CEO, CFO, Technical Services and Non Executive Director fees. As of November 30, 2014, the Company has an accrued liability of $Nil for these services due to this related party (November 30, 2013: $126,654).
			d. On June 20, 2013, Panex reached an agreement with Klaus Eckhof and Ross Doyle to cancel all of their outstanding stock options with Panex. As a result of the cancellation of the 8 million stock options.
	d.	During July 2014, Coresco loaned the Company $44,000, with no specified interest or due date. The parties may agree to settle the borrowing through repayment or issuance of equity. In August 2014, the Company repaid $9,000 of the loan and $35,000 is outstanding at August 31, 2014. During the quarter ended 30 November 2014 the balance of $35,000 was repaid in full.
			e. In July 2014, Coresco loaned the Company $44,000, with no specified interest or due date. The parties may agree to settle the borrowing through repayment or issuance of equity. In August 2014, the Company repaid $9,000 of the loan and $35,000 is outstanding at August 31, 2014.

Loans_and_Borrowings

Loans and Borrowings	3 Months Ended	12 Months Ended
Loans and Borrowings	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Loans and Borrowings	In September 2012, November 2012 and June 2013 the Company received loan proceeds of $75,000, $25,000 and $10,000 respectively (totalling $110,000), from an unrelated third party. The loan is unsecured, and had no stated interest rate. $75,000 of these funds received was used to pay aged outstanding accounts payable in December 2012. During November 2013, the Company entered into a debt settlement agreement with this unrelated third party in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished $110,000, for a total of 110,000,000 shares at a price of $0.001 per share.	In September 2012, November 2012 and June 2013 the Company received loan proceeds of $75,000, $25,000 and $10,000 respectively (totalling $110,000), from an unrelated third party. The loan is unsecured, and had no stated interest rate. $75,000 of these funds received was used to pay aged outstanding accounts payable in December 2012. During November 2013, the Company entered into a debt settlement agreement with this unrelated third party in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished $110,000, for a total of 110,000,000 shares at a price of $0.001 per share.

	During November 2013, Ross Doyle loaned the Company $50,000 as a short term unsecured bridge loan at an interest rate of 10% (November 30, 2012: Nil). The loan was subsequently debt settled during the quarter ended February 28, 2014.	During November 2013, Ross Doyle loaned the Company $50,000 as a short term unsecured bridge loan at an interest rate of 10% (November 30, 2012: Nil). The loan was subsequently debt settled during the quarter ended February 28, 2014.

	During March 2014, the Company received loan proceeds of $300,000, from an unrelated third party. The loan is unsecured, and had no stated interest rate. The loan was assigned to Burey Gold Ltd upon the successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014. The funds received were used to pay aged outstanding accounts payable during the quarter ending May 31 2014. Of the total $300,000 loan proceeds, the full $300,000 was distributed directly by the lender to repay certain vendors of the Company in Democratic Republic of Congo, with the majority being license fees.	During March 2014, the Company received loan proceeds of $300,000, from an unrelated third party. The loan is unsecured, and had no stated interest rate. The loan was assigned to Burey Gold Ltd upon the successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014. The funds received were used to pay aged outstanding accounts payable during the quarter ending May 31 2014. Of the total $300,000 loan proceeds, the full $300,000 was distributed directly by the lender to repay certain vendors of the Company in Democratic Republic of Congo, with the majority being license fees.

	During June 2014, the Company received loan proceeds of $466,027 (AUD $500,000), from an unrelated third party. The loan is unsecured, and had no stated interest rate. The loan was assigned to Burey Gold Ltd after the successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014. The funds received were used to pay aged outstanding accounts payable during the quarter ending May 31, 2014. Of the total $466,027 loan proceeds, $96,027 was distributed directly by the lender to repay certain vendors of the Company in Democratic Republic of Congo.	During June 2014, the Company received loan proceeds of $466,027 (AUD $500,000), from an unrelated third party. The loan is unsecured, and had no stated interest rate. The loan was assigned to Burey Gold Ltd after the successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014. The funds received were used to pay aged outstanding accounts payable during the quarter ending May 31, 2014. Of the total $466,027 loan proceeds, $96,027 was distributed directly by the lender to repay certain vendors of the Company in Democratic Republic of Congo.

	During July 2014, the Company received loan proceeds of $80,000 from Burey Gold Ltd. The loan is unsecured and had no stated interest rate. The loan was assigned to Burey Gold Ltd upon successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014.	During July 2014, the Company received loan proceeds of $80,000 from Burey Gold Ltd. The loan is unsecured and had no stated interest rate. The loan was assigned to Burey Gold Ltd. upon successful conclusion of the transaction with Burey Gold Ltd. consummated on August 12, 2014.

	During July 2014, Coresco loaned the Company $44,000, with no specified interest or due date. The parties may agree to settle the borrowing through repayment or issuance of equity. In August 2014, the Company repaid $9,000 of the loan and $35,000 is outstanding at August 31, 2014. During the quarter ended 30 November 2014 the balance of $35,000 was repaid in full.

Material_Contingencies_and_Com

Material Contingencies and Commitments	3 Months Ended	12 Months Ended
Material Contingencies and Commitments	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Material Contingencies and Commitments	Panex has no material contingencies or long-term commitments.	Panex has no material contingencies or long-term commitments.

	While Panex has raised capital to meet its working capital and financing needs in the past, additional financing is required in order to fully complete its plan of operation and launch its business operations. Panex is seeking financing in the form of equity in order to provide the necessary working capital. Panex currently has no commitments for financing. There are no assurances Panex will be completely successful in raising the funds required.	While Panex has raised capital to meet its working capital and financing needs in the past, additional financing is required in order to fully complete its plan of operation and launch its business operations. Panex is seeking financing in the form of equity in order to provide the necessary working capital. Panex currently has no commitments for financing. There are no assurances Panex will be completely successful in raising the funds required.

Stockholders_Equity

Stockholders' Equity	3 Months Ended	12 Months Ended
Stockholders' Equity	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Stockholders' Equity Note	Common Stock	Common Stock

	On November 5, the Company filed a Form S-1 Registration Statement with the Securities and Exchange Commission, file number 333-172375, permitting Panex to offer up to 500,000,000 shares of common stock at $0.001 per share. The offering was being conducted on a best efforts basis and there will be no underwriter involved in this public offering. The Company is currently in communication with the Securities and Exchange Commission regarding the Form S-1 and the registration has not yet been declared effective.	On June 15, 2012, the Securities and Exchange Commission declared Panex’s Form S-1 Registration Statement effective, file number 333-172375, permitting Panex to offer up to 30,000,000 shares of common stock at $0.08 per share. The offering was being conducted on a best efforts basis and there was no underwriter involved in this public offering. Through August 31, 2012, Panex received and accepted 22 subscription agreements and received an aggregate $978,989 in proceeds from those subscriptions and issued 12,237,075 shares of common stock. No further subscriptions were received and the offering was closed on December 12, 2012. Panex utilized the proceeds to ongoing operations, paying accounts payable, paying for offering expenses, assessing and evaluating possible new mineral project opportunities, and, subject to acquiring any such new projects, funding the exploration on such projects.

	During November 2013, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $248,000, for a total of 248,000,000 shares at a price of $0.001 per share. The $0.001 per share value is consistent with the cash per share value received by the Company in a November 2013 stock transaction (described below).	Effective August 3, 2012, the Company’s board of directors granted 8,000,000 stock purchase options. Each of the options has an issue date, effective date and vesting date of August 3, 2012, with an exercise price of $0.08 per share. The term of these Options are five years. The Options are exercisable at any time from the grant date up to and including August 2, 2017.

	During November 2013 (share certificates issued during quarter ended February 28, 2014), the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $50,975, for a total of 50,975,000 shares at a price of $0.001 per share.	On April 11, 2013, the Company issued 15,000,000 restricted shares of common stock at a subscription price of $0.005 per share, for the settlement of $75,000 in accounts payable and accrued liabilities.

	On December 7, 2013 the Company entered into an agreement to acquire 85% of Amani Consulting SPRL currently in Joint Venture with state entity La Société Minière de Kilo Moto (Sokimo). Upon completion of the acquisition the Company will own an ultimate 55% interest in Giro Goldfields SPRL (Giro). Amani has a 65% interest and Sokimo has a 35% free carried interest in Giro which is comprised of two exploitation permits, PE’s 5046 and 5049, covering a surface area of 610sqkm. The permits lie within 20–30km west of Randgold/Ashanti’s 20Moz Kibali gold deposits.	On June 20, 2013, Panex reached an agreement with Klaus Eckhof and Ross Doyle to cancel all of their outstanding stock options with Panex. As a result of the cancellation of the 8,000,000 stock options, Panex currently has no outstanding stock options as at August 31, 2013.

	Pursuant to the terms and conditions of the Term Sheet dated May 22, 2014 and final agreement executed in August 2014, Panex has assigned and surrendered all of the rights and interests it may have in the share purchase agreement dated December 7, 2013 with Amani (the "Purchase Agreement") to Burey Gold Limited ("Burey"). In addition, Panex has assigned to Burey all of its rights, title, and interest in the loans it has provided for the purpose of funding exploration on the Giro Project (the "Loans"). These loans totalled $846,027. In consideration of the assignment of all of Panex's rights and interests in the Purchase Agreement and the Loans Burey has issued an aggregate 55,705,232 shares in the capital of Burey to Panex (the "Burey Shares"). The parties agreed that the terms and conditions provided in the Term Sheet are binding. Certain shareholders of Panex are also officers and non-controlling shareholders of Burey; however, Panex has no board or other management rights in the operations of Burey. The Burey Shares represented approximately 11.8% of the total outstanding share issuances of Burey. Burey is listed on the Australian Securities Exchange and the Burey Shares issued to Panex are fully tradeable. At the date of the final executed agreement, the Company’s carrying value of the Amani agreement was nil as the Company previously expensed all Amani related exploration costs, the Burey shares had a fair value of $1,135,000 (trading for AUD $0.022 per share), and the loans assigned to Burey totalled $846,000 resulting is a gain of approximately $1,981,000. During the quarter ended November 30, 2014, the Company sold 12,000,000 shares of Burey ordinary shares for cash proceeds of approximately $208,000. At November 30, 2014, Burey ordinary shares were trading for AUD $0.017 per share.	During November 2013, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $248,000, for a total of 248,000,000 shares at a price of $0.001 per share. The $0.001 per share value is consistent with the cash per share value received by the Company in a November 2013 stock transaction (described below).

	On July 23, 2014 the Company approved a conditional equity financing to raise working capital for operations, exploration and administration. On August 12, 2014 the Company issued 861,900 restricted shares of common stock at a price of $0.001 per share to raise the working capital. The Company set the value of the restricted shares arbitrarily without reference to its assets, book value, revenues or other established criteria of value. All the restricted shares to be issued in the offering were issued for investment purposes in “private transactions”.	During November 2013 (share certificates issued during quarter ended February 28, 2014), the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $50,975, for a total of 50,975,000 shares at a price of $0.001 per share.

	Financing Activities:	On December 7, 2013 the Company entered into an agreement to acquire 85% of Amani Consulting SPRL currently in Joint Venture with state entity La Société Minière de Kilo Moto (Sokimo). Upon completion of the acquisition the Company will own an ultimate 55% interest in Giro Goldfields SPRL (Giro). Amani has a 65% interest and Sokimo has a 35% free carried interest in Giro which is comprised of two exploitation permits, PE’s 5046 and 5049, covering a surface area of 610sqkm. The permits lie within 20–30km west of Randgold/Ashanti’s 20Moz Kibali gold deposits.

	During November 2013, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $248,000, for a total of 248,000,000 shares at a price of $0.001 per share.	Pursuant to the terms and conditions of the Term Sheet dated May 22, 2014 and final agreement executed in August 2014, Panex has assigned and surrendered all of the rights and interests it may have in the share purchase agreement dated December 7, 2013 with Amani (the "Purchase Agreement") to Burey Gold Limited ("Burey"). In addition, Panex has assigned to Burey all of its rights, title, and interest in the loans it has provided for the purpose of funding exploration on the Giro Project (the "Loans"). These loans totalled $846,027. In consideration of the assignment of all of Panex's rights and interests in the Purchase Agreement and the Loans Burey has issued an aggregate 55,705,232 shares in the capital of Burey to Panex (the "Burey Shares"). The parties agreed that the terms and conditions provided in the Term Sheet are binding. Certain shareholders of Panex are also officers and non-controlling shareholders of Burey; however, Panex has no board or other management rights in the operations of Burey. The Burey Shares represent approximately 11.8% of the total outstanding share issuances of Burey. Burey is listed on the Australian Securities Exchange and the Burey Shares issued to Panex are fully tradeable. At the date of the final executed agreement, the Company’s carrying value of the Amani agreement was nil as the Company previously expensed all Amani related exploration costs, the Burey shares had a fair value of $1,135,000 (trading for AUD $0.022 per share), and the loans assigned to Burey totalled $846,000 resulting in a gain of approximately $1,981,000. At August 31, 2014, Burey ordinary shares were trading for AUD $0.026 per share.

	During November 2013, Ross Doyle loaned the Company $50,000 as a short term unsecured bridge loan at an interest rate of 10% (November 30, 2012: Nil), which was subsequently debt settled.	On July 23, 2014 the Company approved a conditional equity financing to raise working capital for operations, exploration and administration. On August 12, 2014 the Company issued 861,900 restricted shares of common stock at a price of $0.001 per share to raise the working capital. The Company set the value of the restricted shares arbitrarily without reference to its assets, book value, revenues or other established criteria of value. All the restricted shares to be issued in the offering were issued for investment purposes in “private transactions”.

	Through May 31, 2014, $861,900 was received in advance for subscriptions for 861,900,000 shares of common stock paid at $0.001 per share. In addition, 50,975,000 shares of common stock at $0.001 per share were issued in consideration of settlement of liabilities of $50,975 during the quarter ended February 28, 2014. Of these 861,900,000 shares, 40,300,000 have been issued during the quarter ended May 31, 2014 and the rest have been issued during the quarter ended 31 August, 2014.	Financing Activities:

	During May 2014, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $87,000, for a total of 87,000,000 shares at a price of $0.001 per share. The shares were issued during the quarter ended August 31, 2014.	During April 2013, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.005 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $75,000, for a total of 15,000,000 shares at a price of $0.005 per share.

	During June 2014, the Company received loan proceeds of $466,027 (AUD $500,000), from an unrelated third party. The loan is unsecured, and had no stated interest rate. The loan was assigned to Burey Gold Ltd after the successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014. The funds received were used to pay aged outstanding accounts payable during the quarter ending May 31, 2014. Of the total $466,027 loan proceeds, $96,027 was distributed directly by the lender to repay certain vendors of the Company in Democratic Republic of Congo. On July 23, 2014 the Company approved a conditional equity financing to raise up to $958,600 in working capital for operations, exploration and administration. On August 12, 2014 the Company issued 958,600,000 restricted shares of common stock at a price of $0.001 per share to raise the working capital. The Company set the value of the restricted shares arbitrarily without reference to its assets, book value, revenues or other established criteria of value. All the restricted shares to be issued in the offering were issued for investment purposes in “private transactions”.	During November 2013, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $248,000, for a total of 248,000,000 shares at a price of $0.001 per share.

		During November 2013, Ross Doyle loaned the Company $50,000 as a short term unsecured bridge loan at an interest rate of 0% (November 30, 2012: Nil), which was subsequently debt settled.

		Through May 31, 2014, $861,900 was received in advance for subscriptions for 861,900,000 shares of common stock paid at $0.001 per share. In addition, 50,975,000 shares of common stock at $0.001 per share were issued in consideration of settlement of liabilities of $50,975 during the quarter ended February 28, 2014. Of these 861,900,000 shares, 40,300,000 have been issued during the quarter ended May 31, 2014 and the rest have been issued during the quarter ended 31 August, 2014.

		During May 2014, the Company entered into debt settlement agreements with creditors in consideration for the issuance of the Company’s common stock, par value $0.001, at a per share price of $0.001 per share. As a result, the Company extinguished certain liabilities with creditors via debt settlement agreements for a total of $87,000, for a total of 87,000,000 shares at a price of $0.001 per share. The shares were issued during the quarter ended August 31, 2014.

		During June 2014, the Company received loan proceeds of $466,027 (AUD $500,000), from an unrelated third party. The loan is unsecured, and had no stated interest rate. The loan was assigned to Burey Gold Ltd after the successful conclusion of the transaction with Burey Gold Ltd consummated on August 12, 2014. The funds received were used to pay aged outstanding accounts payable during the quarter ending May 31, 2014. Of the total $466,027 loan proceeds, $96,027 was distributed directly by the lender to repay certain vendors of the Company in Democratic Republic of Congo. On July 23, 2014 the Company approved a conditional equity financing to raise up to $958,600 in working capital for operations, exploration and administration. On August 12, 2014 the Company issued 958,600,000 restricted shares of common stock at a price of $0.001 per share to raise the working capital. The Company set the value of the restricted shares arbitrarily without reference to its assets, book value, revenues or other established criteria of value. All the restricted shares to be issued in the offering were issued for investment purposes in “private transactions”.

Income_Tax_Disclosure

Income Tax Disclosure	12 Months Ended
Income Tax Disclosure	Aug. 31, 2014
Notes to Financial Statements
Income Tax Disclosure	The components of the Company’s net deferred tax asset as of August 31, 2014 and 2013, rate and the valuation allowance are as follows:


		2014	2013

	Net operating losses	7,072,471	7,291,299
	Loan loss reserves	6,100,000	6,100,000
		13,172,471	13,391,299
	Statutory tax rate	35%	35%
	Deferred tax asset	4,610,365	4,686,955
	Valuation allowance	(4,610,365)	(4,686,955)
	Net deferred tax asset	-	-

	The Company has net operating loss carry-forwards for tax purposes of approximately $7,072,471, which begin expiring in 2031. The utilization of the net operating loss carry-forwards cannot be assured.

	Deferred income tax reflects the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company provided a valuation allowance of 100% of its net deferred tax asset due to the uncertainty of generating future profits that would allow for the realization of such deferred tax assets.

Subsequent_Events

Subsequent Events	3 Months Ended	12 Months Ended
Subsequent Events	Nov. 30, 2014	Aug. 31, 2014
Notes to Financial Statements
Subsequent Events	Other than as disclosed in the financial statements there are no subsequent events to report at lodgement date.	The company issued a news release on September 15, 2014 of their intention to issue a cash dividend. This is subject to final management and all necessary regulatory approvals. Otherwise than as disclosed above and within the financial statements there are no other subsequent events.

Summary_of_Significant_Account1

Income_Tax_Disclosure_Schedule

Income Tax Disclosure: Schedule of Deferred Tax Assets (Tables)	12 Months Ended
	Aug. 31, 2014
Income Tax Disclosure Schedule Of Deferred Tax Assets Tables
Schedule of Deferred Tax Assets
		2014	2013

	Net operating losses	7,072,471	7,291,299
	Loan loss reserves	6,100,000	6,100,000
		13,172,471	13,391,299
	Statutory tax rate	35%	35%
	Deferred tax asset	4,610,365	4,686,955
	Valuation allowance	-4,610,365	-4,686,955
	Net deferred tax asset	-	-

Stock_Options_Disclosure_Sched

Stock Options Disclosure: Schedule of Share-based Compensation, Stock Options, Activity (Tables)	12 Months Ended
	Aug. 31, 2014
Stock Options Disclosure Schedule Of Share-Based Compensation Stock Options Activity Tables
Schedule of Share-based Compensation, Stock Options, Activity
		Stock	Weighted	Remaining	Aggregate
		Options	Average	Contractual	Intrinsic value
			Exercise Price	Life (years)
		#	$	As At	As At
	Outstanding and exercisable	-	-	-	-
	at August 31, 2011
	Granted on August 3, 2012	8,000,000	0.08	4.92	-
	Outstanding and exercisable	8,000,000	0.08	4.92	-
	at August, 31, 2012
	Granted during the fiscal year	-	-	-	-
	ended August 31, 2013
	Forfeited during the fiscal year	-8,000,000	0.08	4.17	-
	ended August 31, 2013
	Outstanding and exercisable	-	-	-	-
	at August 31, 2013
	Granted during the fiscal year	-	-	-	-
	ended August 31, 2014
	Outstanding and exercisable	-	-	-	-
	at August 31, 2014

Organization_Nature_of_Busines1

Organization, Nature of Business, Going Concern and Management's Plans (Details Narrative) (USD $)	3 Months Ended		12 Months Ended		126 Months Ended
	Nov. 30, 2014	Nov. 30, 2013	Aug. 31, 2014	Aug. 31, 2013	Nov. 30, 2014
Organization Nature Of Business Going Concern And Managements Plans Details Narrative
Net income (loss)	($602,627)	($532,876)	$218,825	($143,626)
Deficit accumulated during the exploration stage			$13,394,226	$13,613,055	$13,996,852

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details Narrative) (USD $)	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Aug. 31, 2014
Summary Of Significant Accounting Policies Details Narrative
Marketable securities owned	43,705,232	55,705,232
Marketable securities, unrealized gains & losses	($508,000)	$216,000

Stock_Options_Disclosure_Sched1

Stock Options Disclosure: Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $)	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Aug. 31, 2013	Aug. 31, 2012
Stock Options Disclosure Schedule Of Share-Based Compensation Stock Options Activity Details
Stock options granted			8,000,000
Weighted average exercise price, options granted	$0.02		$0.08
Stock options outstanding			8,000,000
Weighted average exercise price			$0.08
Remaining contractual life in years			4 years 11 months 1 day
Options forfeited		-8,000,000
weighted average exercise price of options forfeited		$0.08

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	3 Months Ended		12 Months Ended
Related Party Transactions (Details Narrative) (USD $)	Nov. 30, 2014	Nov. 30, 2013	Aug. 31, 2014	Aug. 31, 2013
Extinguishment of liability				$197,745
Accrued liability due for services			45,523	163,643
Loan amount repaid	35,000	-50,000	-9,000
Loan balance			35,000
Coresco
Extinguishment of liability			50,430
Loan received			44,000
Loan amount repaid	35,000		9,000
Loan balance	35,000		35,000
Chief Financial Officer
Loan received			50,000
CEO, Non Executive Director and CFO
Related party management, exploration and contractor expenses		107,572	199,617	172,016
Accrued liability due for services	$163,643		$45,523

Loans_and_Borrowings_Details

Loans and Borrowings (Details) (USD $)	1 Months Ended							12 Months Ended
Loans and Borrowings (Details) (USD $)	Jul. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Nov. 30, 2013	Jun. 30, 2013	Nov. 30, 2012	Sep. 30, 2012	Aug. 31, 2014
Loan proceeds	$80,000	$466,027	$300,000		$10,000	$25,000	$75,000
Loan amount paid/settled				110,000
Shares issued for debt settlement				110,000,000
Chief Financial Officer
Loan received								50,000
Coresco
Loan received								$44,000

Loans_and_Borrowings_Details_N

Loans and Borrowings (Details Narrative) (USD $)	3 Months Ended		12 Months Ended
Loans and Borrowings (Details Narrative) (USD $)	Nov. 30, 2014	Nov. 30, 2013	Aug. 31, 2014
Loan amount repaid	$35,000	($50,000)	($9,000)
Coresco
Loan amount repaid	$35,000		$9,000

Stockholders_Equity_Note_Detai

Stockholders' Equity Note (Details) (USD $)

3 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

9 Months Ended

Nov. 30, 2014

Aug. 31, 2013

Aug. 31, 2012

Aug. 31, 2014

Jun. 20, 2013

Apr. 11, 2013

30-May-14

Nov. 30, 2013

Apr. 30, 2013

31-May-14

Feb. 28, 2014

22-May-14

Aug. 12, 2014

Jul. 23, 2014

Proceeds

$208,000

Shares issued

12,000,000

Stock options granted

8,000,000

Weighted average exercise price, options granted

$0.02

$0.08

Options cancelled

-8,000,000

Coresco

Loan received

44,000

Chief Financial Officer

Loan received

50,000

Stock purchase options

Stock options granted

8,000,000

Weighted average exercise price, options granted

$0.08

Options cancelled

8,000,000

Common stock for debt settlement

Shares issued

15,000,000

Debt/expenses settled

75,000

Debt settlement agreements

Shares issued

87,000,000

248,000,000

15,000,000

Debt/expenses settled

87,000

248,000

75,000

Debt settlement agreements2

Shares issued

50,975,000

Debt/expenses settled

50,975

Advance for subscriptions

Shares issued

861,900,000

Advance for subscriptions

861,900

Settlement of liabilities for subscriptions

50,975

Amani Consulting SPRL

Loan rights assigned to Burey Gold Limited

1,174,472

Shares of Burey Gold Limited received for assignment of loan

55,705,232

Reassignment of Purchase Agreement

Loan rights assigned to Burey Gold Limited

846,027

Shares of Burey Gold Limited received for assignment of loan

55,705,232

Resulting gain in investment

1,981,000

Private placement of common stock

Proceeds

958,600

Shares issued

958,600,000

861,900

Registration Statement

Proceeds

$978,989

Shares issued

12,237,075

Stockholders_Equity_Note_Detai1

Stockholders' Equity Note (Details Narrative) (USD $)	3 Months Ended	12 Months Ended
Stockholders' Equity Note (Details Narrative) (USD $)	Nov. 30, 2014	Aug. 31, 2012
Stockholders Equity Note Details Narrative
Proceeds	$208,000
Shares issued	12,000,000
Stock options granted		8,000,000
Weighted average exercise price, options granted in AUD	$0.02	$0.08

Income_Tax_Disclosure_Schedule1

Income Tax Disclosure: Schedule of Deferred Tax Assets (Details) (USD $)	12 Months Ended
	Aug. 31, 2014	Aug. 31, 2013
Income Tax Disclosure Schedule Of Deferred Tax Assets Details
Net operating losses	$7,072,471	$7,291,299
Loan loss reserves	6,100,000	6,100,000
Net losses carriedforward	13,172,471	13,391,299
Statutory tax rate	35.00%	35.00%
Deferred tax asset	4,610,365	4,686,955
Valuation allowance	($4,610,365)	($4,686,955)

Uncategorized_Items

Uncategorized Items	11/30/14
[us-gaap_SharesOutstanding]	628,040	77,627	13,131,129	1,416,136	-13,996,853
[us-gaap_StockholdersEquity]						1,416,136,507