Fortem Resources (FTMRQ) 10-K/A 11 Jul 18 2018 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Feb. 28, 2018	Aug. 31, 2017
Document and Entity Information:
Entity Registrant Name	Fortem Resources Inc.
Document Type	10-K
Document Period End Date	Feb. 28, 2018
Trading Symbol	ftmr
Amendment Flag	false
Entity Central Index Key	1,382,231
Current Fiscal Year End Date	--02-28
Entity Common Stock, Shares Outstanding	117,872,458
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Entity Public Float		$ 9,787,042
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Jul. 9, 2004

FORTEM RESOURCES INC. - Consoli

FORTEM RESOURCES INC. - Consolidated Balance Sheets - USD ($)		Feb. 28, 2018	Feb. 28, 2017
Current Assets:
Cash		$ 176,895	$ 459,481
Receivable		9,681	27,103
Prepaid expenses		35,806	24,099
Loan receivable		97,422
Total Current Assets		319,804	510,683
Non-current Assets:
Deposit		43,961	33,082
Equipment		54,654	54,956
Investment	[1]	1,500,000
Rights to the mineral exploration project		1
Oil and gas properties, full cost method		2,631,354	641,494
Total Assets		4,549,774	1,240,215
Current liabilities:
Accounts payable and accrued liabilities		731,639	337,506
Due to related parties		445,912	48,831
Related party loan payable		555,753
Note payable		19,942	18,825
Advance payable		4,058
Warrant liability			2,590,477
Total Current Liabilities		1,757,304	2,995,639
Asset retirement obligation		28,352	24,546
Total Liabilities		1,785,656	3,020,185
Stockholders' Equity:
Capital stock		117,873	29,428	[1]
Additional paid-in capital		17,879,597	5,028,885
Share subscriptions receivable		(200,000)	(110,000)
Accumulated other comprehensive income		(383,257)	(383,257)
Accumulated deficit		(14,650,095)	(6,345,026)
Total Stockholders' Equity		2,764,118	(1,779,970)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 4,549,774	$ 1,240,215
[1]	Investment in Asia Pacific Mining Ltd.

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Feb. 28, 2018	Feb. 28, 2017
Statement of Financial Position
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	750,000,000	750,000,000
Common Stock, Shares Issued	117,872,458	37,537,556
Common Stock, Shares Outstanding	117,872,458	37,537,556

FORTEM RESOURCES INC. - Consol4

FORTEM RESOURCES INC. - Consolidated Statements of Operations - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
General and administrative expenses
Accretion of asset retirement obligation	$ 2,534	$ 2,264
Consulting	1,028,432	70,592
Depreciation	3,478	3,409
Investor relations	24,369
Management fees	150,690	233,786
Office, travel and general	317,501	51,373
Professional fees	437,439	132,233
Loss from operations	(1,964,443)	(493,657)
Accretion of debt discount		(199,999)
Foreign exchange gain	10,815	271,294
Gain on settlement of debt	13,599	79,239
Other income	721	251
Interest expense	(40,684)	(16,871)
Financing fee		(73,621)
Loss on settlement of convertible debt		(1,309,022)
Loss on fair value adjustment of derivative financial liabilities	(6,325,077)	(1,197,268)
Gain on write-off of accounts payable		215,348
Total Other Expenses	(6,340,626)	(2,230,649)
Net loss	(8,305,069)	(2,724,306)
Foreign currency translation		(249,977)
Comprehensive loss	$ (8,305,069)	$ (2,974,283)
Basic and diluted loss per share	$ (0.08)	$ (0.09)
Weighted average number of basic common shares outstanding	105,978,163	30,518,087

FORTEM RESOURCEES INC. - Consol

FORTEM RESOURCEES INC. - Consolidated Statement of Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Share Subscriptions Receivable	Accumulated Deficit	Accumulated Other Comprehensive Loss	Total Stockholders' Equity
Balance, Value at Feb. 29, 2016		$ 21,919	$ 3,115,078		$ (3,620,720)	$ (133,280)	$ (617,003)
Balance, Shares at Feb. 29, 2016		30,029,046
Common stock issued for cash, net of share issue costs, Value		$ 3,660	482,165	$ (110,000)			375,825
Common stock issued for cash, net of share issue costs, Shares		3,660,000
Shares for debt settlement, Value		$ 2,575	618,853				621,428
Shares for debt settlement, Shares		2,574,812
Shares issued for convertible debt, Value		$ 1,074	771,989				773,063
Shares issued for convertible debt, Shares		1,073,698
Bonus units issued, Value		$ 200	40,800				41,000
Bonus units issued, Shares		200,000
Net loss	$ (2,724,306)				(2,724,306)		(2,724,306)
Foreign currency translation	(249,977)					(249,977)	(249,977)
Balance, Value at Feb. 28, 2017	(1,779,970)	$ 29,428	5,028,885	(110,000)	(6,345,026)	(383,257)	(1,779,970)
Balance, Shares at Feb. 28, 2017		37,537,556
Common stock issued for cash, net of share issue costs, Value		$ 2,598	1,697,202	110,000			1,809,800
Common stock issued for cash, net of share issue costs, Shares		2,597,142
Net loss	(8,305,069)				(8,305,069)		(8,305,069)
Shares issued for acquisitions, Value		$ 76,500	891,671				968,171
Shares issued for acquisitions, Shares		76,500,000
Shares issued for consulting services, Value		$ 400	799,600				800,000
Shares issued for consulting services, Shares		400,000
Shares issued for debt settlement, Value		$ 38	75,594				75,632
Shares issued for debt settlement, Shares		37,760
Warrants exercised, Value		$ 800	479,200	(200,000)			280,000
Warrants exercised, Shares		800,000
Reallocation of derivative liability to equity upon the change in functional currency and reallocation of share capital balance		$ 8,109	8,907,445				8,915,554
Balance, Value at Feb. 28, 2018	$ 2,764,118	$ 117,873	$ 17,879,597	$ (200,000)	$ (14,650,095)	$ (383,257)	$ 2,764,118
Balance, Shares at Feb. 28, 2018		117,872,458

FORTEM RESOURCES INC. - Consol6

FORTEM RESOURCES INC. - Consolidated Statements of Cash Flows - USD ($)		12 Months Ended
		Feb. 28, 2018	Feb. 28, 2017
Cash flows used in operating activities:
Net loss		$ (8,305,069)	$ (2,724,306)
Non-cash items:
Accretion		2,534	202,263
Depreciation		3,478	3,409
Gain on settlement of debt		(13,599)	(79,239)
Loss on fair value adjustment of derivative financial liabilities		6,325,077	1,197,268
Gain on write-off of accounts payable			(215,348)
Loss on settlement of convertible debt			1,309,022
Interest income accrued		(369)	(251)
Accrued interest expense		39,451
Accrued management fees		$ 150,000	$ 233,786
Shares issued for services		800,000	73,621
Unrealized foreign exchange		$ 40,472	$ (228,307)
Changes in non-cash working capital items:
Receivable		17,422	(23,824)
Prepaid expenses and other		(11,707)	(16,290)
Accounts payable and accrued liabilities		403,634	70,302
Cash used in operating activities		(548,676)	(197,894)
Cash flows used in investing activities:
Deposit on oil and gas properties		(10,510)
Investments	[1]	(1,000,000)
Equipment		(3,176)
Expenditures on oil and gas properties		(869,683)	(63,402)
Loan receivable		(97,422)
Cash used in investing activities		(1,980,791)	(63,402)
Cash flows from financing activities:
Issuance of share capital, net of issuance costs		2,089,800	599,275
Advance payable		(30,000)
Issuance of convertible debenture			200,000
Net proceeds from (repaid to) related parties		187,081	(100,924)
Cash provided by financing activities		2,246,881	698,351
Change in cash		(282,586)	437,055
Cash, beginning of year		459,481	22,426
Cash, end of year		176,895	$ 459,481
Non-cash transactions
Shares issued for oil and gas properties		968,171
Shares issued for debt settlement		$ 75,632
[1]	Investment in Asia Pacific Mining Ltd.

1. Nature and Continuance of Op

1. Nature and Continuance of Operations	12 Months Ended
	Feb. 28, 2018
Notes
1. Nature and Continuance of Operations	1. NATURE AND CONTINUANCE OF OPERATIONS Fortem Resources Inc. (the “Company”) was incorporated in the State of Nevada on July 9, 2004. The Company focuses its business efforts on the acquisition, exploration, and development of oil and gas properties. The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As of February 28, 2018, the Company has not achieved profitable operations, has incurred losses in developing its business, and further losses are anticipated. The Company has an accumulated deficit of $14,650,095. The Company’s ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to meet its obligations and pay its liabilities when they come due. To date, the Company has funded operations through the issuance of capital stock and debt. Management plans to continue raising additional funds through equity or debt financings and loans from directors. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The ability of the Company to continue its operations as a going concern is dependent upon its ability to raise sufficient new capital to fund its operating commitments and ongoing losses and ultimately on generating profitable operations. The financial statements do not include any adjustments to be recorded to assets or liabilities that might be necessary should the Company be unable to continue as a going concern.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	12 Months Ended
	Feb. 28, 2018
Notes
2. Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP’), and are expressed in United States dollars. The Company has not produced material revenues from its principal business to date. Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Colony Energy, LLC, Black Dragon Energy, LLC, Rolling Rock Resources, LLC and City of Gold, LLC. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation. Foreign Currency Translation The Company has changed its functional currency from Canadian Dollars to United States Dollars as at March 1, 2017. Management determined that the Company’s functional currency had changed during the year ended February 28, 2018 based on the assessment related to significant changes of the Company’s economic facts and circumstances. These significant changes included the fact that the Company’s equity and debt financings as well as the majority of the Company’s expenses are denominated in US dollars. The previous foreign exchange translation adjustments remain in other comprehensive income and translated amounts of non-monetary assets and liabilities as at February 28, 2017 become the accounting basis for these items in future periods. Foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity (deficiency), whereas gains or losses resulting from foreign currency transactions are included in the results of operations. 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. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The most significant estimates with regard to these financial statements relate to carrying values of oil and gas properties, the assumptions used to record asset retirement obligations, the assumptions used to determine the fair value of derivative financial liabilities, and the estimated useful life of equipment. Oil and Gas Properties The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool on a country-by country basis. When the Company commences production from established proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves. Costs of unproved properties are not amortized until the proved reserves associated with the projects can be determined or until impairment occurs. If an assessment of such properties indicates that properties are impaired, the amount of impairment is added to the capitalized cost base to be amortized. The capitalized costs included in the full cost pool are subject to a "ceiling test", which limits such costs to the aggregate of the (i) estimated present value, using a ten percent discount rate, of the future net revenues from proved reserves, based on current economic and operating conditions, (ii) the lower of cost or estimated fair value of unproven properties included in the costs being amortized, (iii) the cost of properties not being amortized, less (iv) income tax effects related to differences between the book and tax basis of the cost of properties not being amortized and the cost or estimated fair value of unproved properties included in the costs being amortized. Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations. The Company’s oil and gas properties are under development with minimal production to date. Accordingly, no amortization is being recorded. Equipment Equipment is recorded at cost and amortized on a straight line basis over 20 years. Asset Retirement Obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs an obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets. The estimated fair value of the asset retirement obligation is based on the current cost escalated at an inflation rate and discounted at a credit adjusted risk-free rate. This liability is capitalized as part of the cost of the related asset and amortized over its useful life. The liability accretes until the Company settles the obligation. Environmental Expenditures Oil and gas activities are subject to extensive federal and state environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and may require the Company to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Expenditures that have future economic benefits are capitalized. Liabilities for expenditures of a non-capital nature are recorded when an environmental assessment and/or remediation is probable, and the costs can be reasonably estimated. Impairment of Long-Term Assets The Company assesses its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Oil and gas interests accounted for under the full cost method are subject to a ceiling test, described above, and are excluded from this requirement. Fair Value of Financial Instruments The estimated fair values for financial instruments are determined based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The estimated fair value of cash, receivable, loan receivable, accounts payable and accrued liabilities, amounts due to related parties, advance payable and note payable approximate their carrying value due to the short-term nature of those instruments. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 – Quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 – Unobservable inputs that are supported by little or no market activity, there for requiring an entity to develop its own assumptions about the assumption that market participants would use in pricing. The Company had certain level 3 assets required to be recorded at fair value on a recurring basis in accordance with US GAAP as at February 28, 2018. As at February 28, 2018, the Company’s Level 3 assets consist of shares and warrants of a private company. The resulting level 3 assets have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. As at February 28, 2018, the fair value of the level 3 assets was equal to $1,500,000 with their fair value based on the price paid to acquire the investment. A summary of the Company’s level 3 liabilities for the year ended February 28, 2018 and February 28, 2017 is as follows: February 28, 2018 February 28, 2017 Warrants Fair value, beginning of the year $ 2,590,477 $ 150,136 Issuance - 1,043,074 Change in fair value 6,325,077 1,397,267 Reallocation of derivative liability to equity upon the change in functional currency (8,915,554) - Ending fair value of warrants - 2,590,477 Embedded conversion feature Beginning fair value - - Bifurcation of embedded conversion feature - 199,999 Change in fair value - (199,999) Ending fair value of embedded conversion feature - - Fair value, end of the year $ - $ 2,590,477 Basic and Diluted Income (Loss) per Share Earnings or loss per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) by the weighted-average of all potentially dilutive shares of the common stock that were outstanding during the years presented. There were 5,323,698 (2017 - 6,123,698) potentially dilutive securities excluded from the calculation of diluted loss per share as their effect would be anti-dilutive. The treasury stock method is used in calculating diluted EPS for potentially dilutive stock options and share purchase warrants, which assumes that any proceeds received from the exercise of in-the-money stock options and share purchase warrants, would be used to purchase common shares at the average market price for the period. Recent Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-1, “Business Combinations: Clarifying the Definition of a Business.” The pronouncement changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The pronouncement requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU 2017-1 effective March 1, 2017. For the Company’s acquisitions during the year, it was concluded substantially all of the fair value of the assets acquired with each property acquisition was concentrated in a single identifiable asset and did not meet the definition of a business. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows.

3. Acquisitions

3. Acquisitions	12 Months Ended
	Feb. 28, 2018
Notes
3. Acquisitions	3. ACQUISITIONS a) Acquisition of Colony Energy, LLC In April 2017, the Company entered into and closed two membership interest purchase agreements with three arm’s length vendors to acquire all membership interests of Colony Energy, LLC (“Colony”), a Nevada limited liability company. Colony holds a 100% interest in and to certain petroleum, natural gas and general rights, including Alberta Crown Petroleum and Oil Leases, in 20 contiguous sections totaling 12,960 acres located in the Godin area of Northern Alberta (“Godin Property”). In consideration for the acquisition of Colony, the Company issued an aggregate of 21,000,000 shares of its common stock to the three vendors on the closing date (recorded at their par value of $21,000) and agreed to issue an additional 3,000,000 shares, with 1,000,000 shares to be issued to one of the vendors on each of the first, second and third anniversaries of the closing date. Subsequent to the year end, the Company and the vendor have agreed to postpone the 2018 share issuance of 1,000,000 shares to a later date. Colony is not considered a business for accounting purposes and accordingly the transaction is treated as an acquisition of oil and gas property and related net assets. $ Oil and gas properties 108,000 Accounts payable and accrued liabilities (13,411) Advance payable (34,058) Due to related parties (60,000) Net assets 531 The total consideration for the acquisition is as follows: $ Par value of shares issued 21,000 Less: net assets (531) Excess consideration paid over the net assets of Colony 20,469 The excess of the consideration over the net assets of Colony has been charged to additional paid in capital. The measurement of the transaction was based on the carrying value of the assets of Colony, which approximated their fair value. b) Acquisition of Black Dragon Energy, LLC In April 2017, the Company entered into and closed a membership interest purchase agreement with two arm’s length vendors to acquire all membership interests of Black Dragon Energy, LLC (“Black Dragon”), a Nevada limited liability company. Black Dragon holds the right to acquire a 75% working interest in and to certain leases, hydrocarbons, wells, agreements, equipment, surface rights agreements and assignable permits totaling approximately 165,000 acres (258 sections) at an 80% net revenue interest, located in the Moenkopi formation of the Carbon and Emery Counties, Utah (“Black Dragon Property”). In consideration for the acquisition of Black Dragon, the Company issued an aggregate of 20,000,000 shares of its common stock to the two vendors on the closing date (recorded at their par value of $20,000) and paid $100,000 prior to the closing as a non-refundable deposit. Black Dragon is not considered a business for accounting purposes and accordingly the transaction is treated as an acquisition of oil and gas property and related net assets. $ Oil and gas properties 119,863 Accounts payable and accrued liabilities (26,355) Net liabilities 93,508 The total consideration for the acquisition is as follows: $ Par value of shares issued 20,000 Cash paid 100,000 Less: net assets (93,508) Excess consideration paid over the net assets of Black Dragon 26,492 The consideration paid over the net assets of Black Dragon has been charged to additional paid in capital. The measurement of the transaction was based on the carrying value of the assets of Black Dragon, which approximated their fair value. c) Acquisition of Rolling Rock Resources, LLC In April 2017, the Company entered into and closed a membership interest purchase agreement with two arm’s length vendors to acquire all membership interests of Rolling Rock Resources, LLC (“Rolling Rock”), a Nevada limited liability company. Rolling Rock has the right to acquire a 50% working interest in and to certain leases, hydrocarbons, wells, agreements, equipment, surface rights agreements and assignable permits totaling approximately 101,888 acres (160 sections) at an 80% net revenue interest located in the Mancos formation in the Southern Uinta Basin, Utah (“Rolling Rock Property”). In consideration for the acquisition of Rolling Rock, the Company issued an aggregate of 20,000,000 shares of its common stock to the two vendors on the closing date (recorded at their par value of $20,000) and paid $100,000 prior to the closing as a non-refundable deposit. Rolling Rock is not considered a business for accounting purposes and accordingly the transaction is treated as an acquisition of oil and gas property and related net assets. $ Oil and gas properties 130,397 Accounts payable and accrued liabilities (26,032) Net assets 104,365 The total consideration for the acquisition is as follows: $ Par value of shares issued 20,000 Cash paid 100,000 Less: net assets (104,365) Excess consideration paid over the net assets of Rolling Rock 15,635 The consideration paid over the net assets of Rolling Rock has been charged to additional paid in capital. The measurement of the transaction was based on the carrying value of the assets of Rolling Rock, which approximated their fair value. d) Acquisition of City of Gold, LLC In May 2017, the Company acquired 100% of the membership interest in City of Gold, LLC (“City of Gold”), a Nevada limited liability company, from two Nevada limited liability companies pursuant to a membership interest purchase agreement. City of Gold has an option to acquire the subsidiary of Asia Pacific Mining Ltd. (“the Asia Pacific subsidiary”), subject to the completion of a binding financing and option agreement (“the Option”). The Asia Pacific subsidiary owns the City of Gold mining project in Myanmar. The membership interest purchase agreement provides for a total purchase price consisting of an aggregate of 30,000,000 common shares of its common stock (the “Purchase Shares”). 15,000,000 of the Purchase Shares were issued at closing (recorded at their par value of $15,000); the remaining 15,000,000 Purchase Shares are to be issued within ten business days after City of Gold earns the Option. City of Gold is not considered a business for accounting purposes and accordingly the transaction is treated as an acquisition of available for sale investments, rights to the acquisition of mineral exploration project and related net assets. $ Investments 1,500,000 Accounts payable and accrued liabilities (13,932) Note payable (1,516,302) Net liabilities (30,234) The total consideration for the acquisition is as follows: $ Par value of shares issued 15,000 Net liabilities assumed 30,234 Excess consideration paid over the net assets of City of Gold 45,233 The consideration paid over the net assets of City of Gold has been charged to additional paid in capital. The measurement of the transaction was based on the carrying value of the assets of City of Gold, which approximated their fair value.

4. Oil and Gas Properties

4. Oil and Gas Properties	12 Months Ended
	Feb. 28, 2018
Notes
4. Oil and Gas Properties	4. OIL AND GAS PROPERTIES Compeer Godin Black Dragon Rolling Rock Total $ $ $ $ $ Balance, February 28, 2017 641,494 - - - 641,494 Acquisition - 108,000 719,863 730,397 1,558,260 Exploration 13,926 38,165 107,384 234,042 393,517 Exchange difference 38,083 - - - 38,083 Balance, February 28, 2018 693,503 146,165 827,247 964,439 2,631,354 Compeer Property Effective February 21, 2012, the Company entered into a Farmout Agreement (the “Agreement”) with Harvest Operations Corp. (“Farmor”). The Agreement provided for the Company’s acquisition of an undivided 100% working interest (“Working Interest”) in a petroleum and natural gas license covering land located in the Compeer Area in the Province of Alberta, Canada (the “Compeer Property”). To earn the Working Interest the Company was required to drill, complete, equip or abandon a test well on the Compeer Property (“Test Well”). On March 14, 2012, the Company obtained operator status and was transferred the well license relating to the Test Well. The Company’s Working Interest in the Compeer Property will be held subject to a non-convertible overriding royalty payable to the Farmor (“Farmor’s Royalty”). The Farmor’s Royalty on net crude oil revenues will be measured on a sliding scale from 5% to 15% over a range of production volumes from 1 to 150 barrels per day. The Farmor’s Royalty on net gas and other petroleum product revenues is 15%. The Test Well was spudded on May 27, 2012, and on September 5, 2012, the Company received an earning notice granting the Company a 100% working interest in the Compeer Property. As of February 28, 2018, the Company has incurred $693,503 (2017 - $641,494) in exploration costs to drill, complete and equip the Test Well, net of impairment charges in prior periods. The Company also has $43,961 (2017 - $33,082) in bonds held with the Alberta Energy Regulator for its oil and gas properties. Godin Property On March 31, 2017, Colony (Note 3a) entered into a petroleum, natural gas and general rights conveyance agreement to acquire a 100% interest in and to certain petroleum, natural gas and general rights, including Alberta Crown Petroleum and Oil Leases, in 20 contiguous sections totaling 12,960 acres located in the Godin area of Northern Alberta. In addition, the vendor is entitled to receive certain milestone payments from the Company in the aggregate amount up to $210,000 as follows: i) $30,000 on or before June 29, 2017 (settled with the issuance of shares); ii) $30,000 on or before September 27, 2017 (settled with the issuance of shares); and iii) $150,000 upon the rig release of the second well drilled by the Company in the oil and gas assets described above. This amount will be recorded when the criteria has been met. If the Company fails to make timely payment of any of the milestone payments, the vendor sole recourse will be a claim for debt against the Company for an amount equal to the missed milestone payment. In November 2017, the Company issued 30,000 shares at a value of $60,000 to settle the milestone payments of $60,000. Black Dragon Property In March 2017 (and later amended in August 2017), Black Dragon (Note 3b) entered into a purchase and sale agreement (the “Black Dragon PSA”) to acquire a 75% working interest in and to certain leases, hydrocarbons, wells, agreements, equipment, surface rights agreements and assignable permits totaling approximately 165,000 acres (258 sections) at an 80% net revenue interest located in the Moenkopi formation of the Carbon and Emery Counties, Utah (the “Black Dragon Property”). In August 2017, Black Dragon entered into an amendment to the Black Dragon PSA (the “Black Dragon Amendment”), which amended the terms of the Black Dragon PSA. Under the Black Dragon Amendment, the Company is required to pay the vendor cash consideration totaling $3.9 million (the “Black Dragon Consideration”) based upon the following schedule: $100,000 as a non-refundable deposit within 10 business days of closing (paid); the balance of the Black Dragon Cash Consideration by payment to the vendor of an amount equal to 25% of any funds received by the Company from any equity, debt or convertible financing thereof (each, a “Financing”) upon the closing of each Financing until such amount is paid. In addition: (a) the first $1.5 million raised by the Company will be exempt from a 25% payment to the vendor if such amount is received prior to the Company’s listing on a stock exchange; and (b) the full Black Dragon Cash Consideration is required to be paid in full no later than December 31, 2018 regardless of the amount of funds paid in connection with one or more Financings. This change modified the original requirement to pay US$900,000 on or before September 1, 2017, US$900,000 on or before March 1, 2018 and US$800,000 on or before September 1, 2018. In addition to revising the Black Dragon Cash Consideration as set out above, the Company has agreed to: (a) issue 250,000 common shares of the Company to the vendor on or prior to September 1, 2017 (issued at a value of $500,000); and (b) pay the vendor an additional $25,000 every sixty days commencing September 1, 2017 ($100,000 paid) until such time as the Black Dragon Cash Consideration is paid in full. As an added incentive for early payment of the Black Dragon Cash Consideration, such sum will be reduced by $100,000 for each calendar month it is paid in full prior to December 31, 2018 for a maximum discount of 12 months or $1.2 million. Within 10 business days after the later of the Company paying the Black Cash Consideration in full or the Company meeting in full its carry obligation, the vendor will convey to the Company an undivided 75% of the Vendor’s right, title and interest in and to the assets, at an 80% Net Revenue Interest in the assets. Carry Obligation As per the terms of the Black Dragon PSA, and in addition to the Black Dragon Cash Consideration, the Company is required to pay all costs and expenses incurred on the assets with respect to any and all exploration, development and production during the carry period. The “Carry Period” continues until the later of either (i) the date that the Company pays the full Black Dragon Cash Consideration set out above or (ii) the date that the Company pays all costs and expenses for the drilling, logging, testing and completion of two new wells, each well with a horizontal leg extending at least 2,000’ in the target zone within the Moenkopi formation (the “Two Obligation Wells”). The Company is required to drill to completion or cause to be drilled to completion (or plugging and abandonment) the Two Obligation Wells on or before February 28, 2019, failing which, the Company’s right to earn any assignment in and to the assets will terminate immediately. For each vertical well drilled to 200’ below the top of the Kaibab formation through completion (or plugging or abandonment) within a Federal Unit, the obligation deadline will be amended to the later of (i) the current obligation deadline or (ii) 6 months from the date the rig that drilled such vertical well to total depth has been removed from the wellsite. Rolling Rock Property In March 2017, Rolling Rock (Note 3c) entered into a purchase and sale agreement (the “Rolling Rock PSA”) to acquire a 50% working interest in and to certain leases, hydrocarbons, wells, agreements, equipment, surface rights agreements and assignable permits totaling approximately 101,888 acres (160 sections) at an 80% net revenue interest located in the Mancos formation in the Southern Uinta Basin, Utah (the “Rolling Rock Property”). In August 2017, Rolling Rock entered into an amendment to the Rolling Rock PSA (the “Rolling Rock Amendment”), which amended the terms of the Rolling Rock PSA. Under the Rolling Rock Amendment, the Company is required to pay the vendor cash consideration totaling $3.6 million (the “Rolling Rock Cash Consideration”) based upon the following schedule: · the balance of the Rolling Rock Cash Consideration by cash payment to the vendor of an amount equal to 25% of any funds received by the Company from any Financing upon the closing of each Financing until such amount is paid. In addition: (a) the first $1.5 million raised by the Company will be exempt from a 25% payment to the vendor if such amount is received prior to the Company’s listing on a stock exchange; and (b) the full Rolling Rock Cash Consideration is required to be paid in full no later than December 31, 2018 regardless of the amount of funds paid in connection with one or more Financings. This change modified the original requirement to pay US$1.3 million on or before September 1, 2017, $500,000 on or before March 1, 2018 and $500,000 on or before September 1, 2018; and after payment of the Rolling Rock Cash Consideration, an additional payment of $300,000 (the “Workover Funds”) to the vendor which is payable by an amount equal to 25% of any funds received by the Company from any Financing until the Workover Funds are paid in full. In addition to revising the Rolling Rock Cash Consideration as set out above, Rolling Rock has agreed to: (a) cause the Company to issue 250,000 common shares of the Company to the vendor on or prior to September 1, 2017 (issued at a value of $500,000); and (b) pay the vendor an additional $25,000 every sixty days commencing September 1, 2017 ($100,000 paid) until such time as the Rolling Rock Cash Consideration and the Workover Funds are paid in full. As an added incentive for early payment of the Rolling Rock Cash Consideration, such sum will be reduced by $100,000 for each calendar month it is paid in full prior to December 31, 2018 for a maximum discount of 12 months or $1.2 million. Within 10 business days after the later of the Company paying the Rolling Rock Cash Consideration in full or the Company meeting in full its carry obligation, the vendor agrees to convey to the Company an undivided 50% of the vendor’s right, title and interest in and to the Leases, or a 80% net revenue interest in the Leases. Notwithstanding this transfer, within 10 business days after the later of payment of $300,000 on or before September 1, 2017 (which amount is in addition to the deposit and included in the Rolling Rock Cash Consideration set out above) and the replacement of the vendor’s bonds on or before September 1, 2017, the vendor agrees to convey to the Company an undivided 50% of the vendor’s right, title and interest in and to the Cisco Dome leases and related assets. However, if the Company fails to timely meet any of its obligations under the Rolling Rock PSA, after having taken assignment of the Cisco Dome leases and assets, then, if the vendor elects in its sole discretion, the Company is required to reassign the Cisco Dome leases and assets to the vendor without any additional encumbrances. Carry Obligation As per the terms of the Rolling Rock PSA, and in addition to the Rolling Rock Cash Consideration, the Company is required to pay all costs and expenses incurred on the Leases with respect to any and all exploration, development and production during the carry period. The “Carry Period” continues until the later of either (i) the date that the Company pays the full Rolling Rock Cash Consideration set out above or (ii) the date that the Company pays all costs and expenses for the drilling, logging, testing and completion of three new wells in each of the three Federal Units, each well with a horizontal leg extending at least 1,000’ in the target zone within the Mancos formation (the “Three Obligation Wells”). The Company is required to drill to completion or cause to be drilled to completion (or plugging and abandonment) the Three Obligation Wells on or before February 28, 2019, failing which, the Company’s right to earn any assignment in and to the Leases will terminate immediately. For each vertical well drilled to the top of the Dakota formation through completion (or plugging or abandonment) within a Federal Unit, the obligation deadline will be amended to the later of (i) the current obligation deadline or (ii) 6 months from the date the rig that drilled such vertical well to total depth has been removed from the wellsite. The obligation well in the Grand Mancos Unit will be a vertical well drilled to a depth sufficient to test the Granite Walsh formation within such Federal Unit. For this well, completion (or plugging and abandonment) is expected to take place no later than 2 months after the rig that drilled to total depth has been removed from the wellsite and for a period of 6 months after completion of this obligation well (or plugging and abandonment), and the Company will have the exclusive option to purchase an additional 25% of the vendor’s right, title and interest in and to the leases with respect to the Granite Walsh formation within the boundary of the Grand Mancos Unit for an additional payment of $10 million.

5. Investment in Asia Pacific M

5. Investment in Asia Pacific Mining Ltd.	12 Months Ended
	Feb. 28, 2018
Notes
5. Investment in Asia Pacific Mining Ltd.	5. INVESTMENT IN ASIA PACIFIC MINING LTD. In April 2017, a binding financing and option agreement (the “Agreement”) (Note 3d) was assigned to the Company where the Company subscribed a total of 2,930,259 units in the capital of Asia Pacific Mining Limited (“Asia Pacific”) at a total cost of $1,500,000, which represents approximately 7.5% of the issued and outstanding shares of Asia Pacific immediately after the financing. Asia Pacific is a private company registered in Hong Kong. Each unit consisted of one common share and one share purchase warrant which will entitle the holder of each warrant to acquire an additional share of Asia Pacific at an exercise price of $0.5119 per share during the term equal to the greater of two years from the closing of additional financing of Asia Pacific according to the terms of the Agreement or 18 months from the receipts of all necessary permits to carry out the exploration program.

6. Rights To The Acquisition of

6. Rights To The Acquisition of Mineral Exploration Project	12 Months Ended
	Feb. 28, 2018
Notes
6. Rights To The Acquisition of Mineral Exploration Project	6. RIGHTS TO THE ACQUISITION OF MINERAL EXPLORATION PROJECT In connection to the acquisition of City of Gold, LLC, the Company owns the right to an option agreement. Under the option agreement, the vendors have agreed to grant to City of Gold the option (the “Option”) to purchase 100% of the ownership interest in a wholly owned subsidiary of Asia Pacific (the “Project Subsidiary”) which, in turn, owns 100% of the rights to the City of Gold mineral exploration project located in Myanmar which covers an area of approximately 465 square kilometers in close proximity to hydropower, water, and infrastructure to accommodate exploration and development of the property. City of Gold, LLC will be granted the Option upon satisfaction of the following: · · · · Upon the closing of the Final Funding Tranche, City of Gold, LLC will have earned the Option. Due to political and social instability in Myanmar Once it has exercised the Option, the Company may, at its discretion, require Asia Pacific to transfer the Project Subsidiary to another Canadian publicly listed company to be selected by the Company (“Acquisition Co”)(if the Project Subsidiary is not transferred to another Canadian publicly list company, Acquisition Co means the Company) for an exercise price consisting of $7,000,000 in cash and thirty percent of the issued and outstanding share capital of Acquisition Co (calculated on a fully diluted basis, excluding up to 10% in stock options, but including shares Acquisition Co may have issued in order to raise the exercise price of $7,000,000 and an additional $5,000,000 in working capital). Half of the cash portion of the exercise price must be paid upon exercise of the Option; the balance is to be paid on the first anniversary of the exercise and is to be evidenced by a one-year secured term note. Although the Company has the right to select Acquisition Co., it must select a Canadian publicly listed company that meets certain criteria – at exercise of the Option, Acquisition Co must have less than US$100,000 in liabilities and US$5,000,000 or more in working capital and Asia Pacific will have the right to nominate 30% of its directors.

7. Equipment

7. Equipment	12 Months Ended
	Feb. 28, 2018
Notes
7. Equipment	7. EQUIPMENT February 28, 2018 Cost Accumulated Depreciation Net Book Value $ $ $ Oil and gas equipment 71,284 16,630 54,654 February 28, 2017 Cost Accumulated Depreciation Net Book Value $ $ $ Oil and gas equipment 67,289 12,333 54,956

8. Accounts Payable

8. Accounts Payable	12 Months Ended
	Feb. 28, 2018
Notes
8. Accounts Payable	8. ACCOUNTS PAYABLE During the year ended February 28, 2018, the Company paid $5,693 in cash to settle $19,292 of balance owing to a vendor of the Company. As a result, the Company recorded a gain on settlement of debt of $13,599.

9. Note Payable

9. Note Payable	12 Months Ended
	Feb. 28, 2018
Notes
9. Note Payable	9. NOTE PAYABLE As at February 28, 2018, the Company had $19,942 (2017 - $18,825) in short term note obligations. The note payable is unsecured, non-interest bearing and payable upon demand.

10. Advance Payable

10. Advance Payable	12 Months Ended
	Feb. 28, 2018
Notes
10. Advance Payable	10. ADVANCE PAYABLE As at February 28, 2018, the Company had $4,058 (2017 - $nil) due to an unrelated party. The balance was related to expenses paid by an unrelated party. The advance payable is unsecured, non-interest bearing and payable upon demand. During the year end February 28, 2018, the Company issued 30,000 shares at a value of $60,000 to settle an advance payable of $60,000, related to the acquisition of the Godin property (Note 4).

11. Asset Retirement Obligation

11. Asset Retirement Obligation	12 Months Ended
	Feb. 28, 2018
Notes
11. Asset Retirement Obligation	11. ASSET RETIREMENT OBLIGATION The Company’s asset retirement obligation consists of reclamation and closure costs associated with the Test Well in the Compeer Property. The asset retirement obligation was estimated based on the Company’s understanding of its requirements to reclaim currently disturbed areas. Significant reclamation and closure activities include land rehabilitation, water, removal of building and well facilities and tailings reclamation. The undiscounted estimate of this liability was $39,035 (2017 - $37,650) reflecting payments commencing in 2024. This estimate was adjusted for an inflation rate of 2.00% and then discounted at a rate of 10.00% for a net present value of $28,352 (2017 - $24,546) as at February 28, 2018.

12. Derivative Financial Liabil

12. Derivative Financial Liabilities - Warrants	12 Months Ended
	Feb. 28, 2018
Notes
12. Derivative Financial Liabilities - Warrants	12. DERIVATIVE FINANCIAL LIABILITIES - WARRANTS Balance, February 29, 2016 $ 150,136 Warrants issued 1,043,074 Fair value adjustment 1,397,267 Balance, February 28, 2017 2,590,477 Fair value adjustment 6,325,077 Reallocation of derivative liability to equity upon the change in functional currency (8,915,554) Balance, February 28, 2018 $ -

13. Share Capital

13. Share Capital	12 Months Ended
	Feb. 28, 2018
Notes
13. Share Capital	13. SHARE CAPITAL Year ended February 28, 2018: In April 2017, the Company issued 21,000,000 shares recorded at their par value of $21,000 in connection to the acquisition of Colony (Note 3a). In April 2017, the Company issued 20,000,000 shares recorded at their par value of $20,000 in connection to the acquisition of Black Dragon (Note 3b). In April 2017, the Company issued 20,000,000 shares recorded at their par value of $20,000 in connection to the acquisition of Rolling Rock (Note 3c). In May 2017, the Company issued 15,000,000 shares recorded at their par value of $15,000 in connection to the acquisition of City of Gold (Note 3d). In September 2017, the Company issued 250,000 shares with a fair value of $500,000 in connection to the Black Dragon property (Note 4). In September 2017, the Company issued 250,000 shares with a fair value of $500,000 in connection to the Rolling Rock property (Note 4). In November 2017, the Company issued 30,000 shares with a fair value of $60,000 to settle an advance payable of $60,000 in connection to the Godin property (Note 4). In December 2017, the Company issued 400,000 shares with a fair value of $800,000 for consulting services. In addition, the Company issued 7,760 shares with a fair value of $15,632 to settle accounts payable of $15,632. In December 2017, the Company issued 800,000 shares in relation to the exercise of 800,000 warrants for total proceeds of $480,000. As at February 28, 2018, $200,000 are recorded as share subscriptions receivable. During the year ended February 28, 2018, the Company issued 2,597,142 common shares for total gross proceeds of $1,805,000 pursuant to private placements. The Company paid a total of $105,200 in finder’s fees in connection with the private placements of equity financings. Year ended February 28, 2017: In March 2016, the Company issued 500,000 units at a price of $0.10 per unit for a total of $50,000. Each unit consists of one common share of the Company and one common share purchase warrant, with each warrant being exercisable into one additional share at an exercise price of $0.40 for a period of three years. The proceeds for this issuance were received in the year ended February 29, 2016 and on the issuance of these units, the Company allocated $500 to share capital and $49,500 to the warrant liability. In May 2016, the Company issued 353,521 common shares with a fair price of $0.10 per share for a total of $35,352 to settle accounts payable of $95,584. As a result, the Company recorded a gain on settlement of debt of $60,232. In May 2016, the Company issued 200,000 units with a fair price of $0.21 per share in regards to the secured convertible debenture. Each unit consists of one common share of the Company and one common share purchase warrant. Each warrant is exercisable to purchase one common share at a price of $0.40 per share for a period of two years. The warrants were determined to be derivatives. At issuance date, the fair value of the common shares and warrants was $73,621 with $41,000 allocated to share capital and $32,621 allocated to warrant liability. In September 2016, the Company issued 250,000 units at a price of $0.10 per unit for gross proceeds of $25,000. Each unit consists of one common share of the Company and one common share purchase warrant, with each warrant being exercisable into one additional share at an exercise price of $0.40 for a period of three years. Upon the issuance of these units, the Company allocated $250 to share capital and $24,750 to the warrant liability. In November 2016, the Company issued 400,000 common shares at a price of $0.25 per share for gross proceeds of $100,000. In January 2017, the Company issued 1,680,000 common shares with a fair price of $0.25 per share for a total of $420,000 to settle amounts due to a related party payable of $420,000. In January 2017, the Company issued 182,832 common shares with a fair price of $0.25 per share for a total of $45,708 to settle accrued liabilities of $76,100. As a result, the Company recorded a gain on settlement of debt of $30,392. In January 2017, the Company issued 121,888 common shares with a fair price of $0.25 per share for a total of $30,472 to settle amounts due to a related party of $30,472. In January 2017, the Company issued 236,571 common shares with a fair price of $0.38 per share for a total of $89,897 to settle accounts payable of $59,143. As a result, the Company recorded a loss on settlement of debt of $30,754. In January 2017, the Company issued 400,000 shares at a price of $0.25 per share for gross proceeds of $100,000. In February 2017, the Company issued 1,310,000 shares at a price of $0.25 per share for gross proceeds of $327,500. In February 2017, the Company issued 800,000 units at a price of $0.25 per unit for gross proceeds of $200,000. Each unit consists of one common share of the Company and one common share purchase warrant, with each warrant being exercisable into one additional share at an exercise price of $0.60 for a period of two years. Upon the issuance of these units, the Company allocated $800 to share capital and $199,200 to the warrant liability. In February 2017, the Company issued 1,073,698 units with a fair price of $1,509,022 in connection with the conversion of the convertible debenture. Each unit consists of one common share of the Company and one common share purchase warrant, with each warrant being exercisable into one additional share at an exercise price of $0.40 for a period of two years. Upon the issuance of these units, the Company allocated $773,063 to share capital and $735,959 to the warrant liability. The Company paid a total of $43,225 in finder’s fees in connection with the private placements of equity financings during the year ended February 28, 2017. Warrants Below is a summary of the common share purchase warrant transactions: Number of Warrants Weighted Average Exercise Price per Warrant $ Outstanding at February 29, 2016 1,080,000 0.40 Issued 2,823,698 0.46 Expired (80,000) 1.50 Outstanding at February 28, 2017 3,823,698 0.44 Exercised (800,000) 0.60 Outstanding at February 28, 2018 3,023,698 0.40 A summary of the common share purchase warrants outstanding and exercisable at February 28, 2018 is as follows: Exercise Price Number Outstanding Expiry Date $ 0.40 200,000 May 17, 2018 0.40 1,000,000 March 8, 2019 0.40 500,000 March 9, 2019 0.40 1,073,698 February 10, 2019 0.40 250,000 September 22, 2019 3,023,698 The weighted average exercise price is $0.40 and weighted average life of the warrants is 0.99 years. Stock Options The Company’s Stock Option Plan allows a maximum 5,579,335 shares to be reserved for issuance under the plan. Options granted under the plan may not have a term exceeding 10 years and vesting provisions are at the discretion of the Board of Directors. A summary of the stock options outstanding and exercisable at February 28, 2018 is as follows: Exercise Price Number Outstanding and Exercisable Expiry Date Aggregate Intrinsic Value $ $ 0.10 2,300,000 November 3, 2020 6,969,000 As at February 28 The aggregate intrinsic value in the proceeding table represents the total intrinsic value, based on the Company’s closing stock price of $3.13 per share as of February 28, 2018.

14. Related Party Transactions

14. Related Party Transactions	12 Months Ended
	Feb. 28, 2018
Notes
14. Related Party Transactions	14. RELATED PARTY TRANSACTIONS Due to related parties consist of the following: February 28, 2018 February 28, 2017 $ $ Due to directors and officers of the Company 445,912 48,831 As at February 28, 2018, the Company had $500,000 (2017 - $nil) in long term note obligations owing to a company with a common director. The note payable is unsecured, with an interest of 10% per annum and due on or before January 18, 2019. As at February 28, 2018, the Company has an accrued interest of $55,753. Subsequent to February 28, 2018, the Company repaid the principal balance of $500,000 owed on this note.

15. Income Taxes

15. Income Taxes	12 Months Ended
	Feb. 28, 2018
Notes
15. Income Taxes	15. INCOME TAXES On December 22, 2017, the Tax Cuts and Jobs Act (2017 Tax Act) was enacted. The 2017 Tax Act includes a number of changes to existing U.S. tax laws that impact the Company, most notably a reduction of the U.S. corporate tax rate from 34% to 21%, for tax years beginning after December 31, 2017. The 2017 Tax Act also provides for the implementation of a territorial tax system, a one-time transition tax on certain foreign earnings, the acceleration of depreciation for certain assets placed into service after September 27, 2017 and other prospective changes beginning in 2018, including repeal of the domestic manufacturing deduction, acceleration of tax revenue recognition, capitalization of research and development expenditures, additional limitations on executive compensation and limitations on the deductibility of interest. Pursuant to the SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, the Company has not finalized its accounting for the income tax effects of the 2017 Tax Act. This includes a provisional amount related to the re-measurement of deferred tax assets based on the rates at which they are expected to reverse in the future, which is generally 21% plus the applicable state tax rate, with a corresponding change to the valuation allowance as of December 31, 2017. The impact of the 2017 Tax Act may differ from this estimate during the ensuing fiscal year due to, among other things, further refinement of the Company’s calculation, changes in interpretations and assumptions the Company has made, additional guidance that may be issued and actions the Company may take as a result of the 2017 Tax Act. Significant components of the Company’s deferred tax assets are as follows: February 28, 2018 February 28, 2017 $ $ Loss before income taxes (8,305,069) (2,724,306) Statutory tax rate 21% 35% Expected recovery of income taxes computed at statutory rates (1,744,000) (954,000) Permanent differences 1,325,000 680,000 Effect of foreign exchange 145,000 4,000 Impact of change of enacted statutory tax rate 593,000 - Change in valuation allowance (319,000) 270,000 Provision for income taxes - - The significant components of deferred income tax assets at February 28, 2018 and February 28, 2017 are as follows: February 28, 2018 February 28, 2017 $ $ Deferred income tax assets: Operating loss carry forward 1,309,000 1,483,000 Oil and gas properties 197,000 342,000 Less: valuation allowance (1,506,000) (1,825,000) Deferred income tax assets, net - - At February 28, 2018, the Company had accumulated non-capital loss carry-forwards of approximately $6,231,000 that carry forward indefinitely to offset future taxable income. The potential future tax benefits of these expenses and losses carried-forward have not been reflected in these financial statements due to the uncertainty regarding their ultimate realization. Tax attributes are subject to review, and potential adjustment by tax authorities.

16. Subsequent Events

16. Subsequent Events	12 Months Ended
	Feb. 28, 2018
Notes
16. Subsequent Events	16. SUBSEQUENT EVENTS a) Subsequent to February 28, 2018, the Company: i.) Issued 1,273,698 common shares upon exercise of 1,273,698 warrants of the Company for total proceeds of $509,479. ii.) Issued 25,000 common shares for gross proceeds of $50,000 pursuant to a private placement. b) On May 28, 2018, but effective as of March 1, 2017, the Company entered into a second amendment to purchase and sale agreement (the “Black Dragon Second Amendment”), which amended the terms of the Black Dragon PSA. The Black Dragon Second Amendment has the effect of postponing certain payments relating to the Black Dragon Property under the Black Dragon PSA until August 1, 2019, provided that, if the shares of common stock of the Company are not listed on the TSX Venture Exchange on or before August 1, 2018, the payment deadline will remain December 31, 2018. On May 28, 2018, but effective as of March 1, 2017, the Company entered into a third amendment to purchase and sale agreement (the “Rolling Rock Third Amendment”), which amended the terms of Rolling Rock PSA. The Rolling Rock Third Amendment has the effect of postponing certain payments relating to the Rolling Rock Property under the Rolling Rock PSA until August 1, 2019, provided that, if the shares of common stock of our company are not listed on the TSX Venture Exchange on or before August 1, 2018, the payment deadline will remain December 31, 2018.

2. Summary of Significant Acc23

2. Summary of Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Basis of Presentation	Basis of Presentation These consolidated financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States (“US GAAP’), and are expressed in United States dollars. The Company has not produced material revenues from its principal business to date.

2. Summary of Significant Acc24

2. Summary of Significant Accounting Policies: Basis of Consolidation (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Basis of Consolidation	Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Colony Energy, LLC, Black Dragon Energy, LLC, Rolling Rock Resources, LLC and City of Gold, LLC. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated upon consolidation.

2. Summary of Significant Acc25

2. Summary of Significant Accounting Policies: Foreign Currency Translation (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Foreign Currency Translation	Foreign Currency Translation The Company has changed its functional currency from Canadian Dollars to United States Dollars as at March 1, 2017. Management determined that the Company’s functional currency had changed during the year ended February 28, 2018 based on the assessment related to significant changes of the Company’s economic facts and circumstances. These significant changes included the fact that the Company’s equity and debt financings as well as the majority of the Company’s expenses are denominated in US dollars. The previous foreign exchange translation adjustments remain in other comprehensive income and translated amounts of non-monetary assets and liabilities as at February 28, 2017 become the accounting basis for these items in future periods. Foreign denominated monetary assets and liabilities are translated to their United States dollar equivalents using foreign exchange rates which prevailed at the balance sheet date. Revenue and expenses are translated at average rates of exchange during the period. Related translation adjustments are reported as a separate component of stockholders’ equity (deficiency), whereas gains or losses resulting from foreign currency transactions are included in the results of operations.

2. Summary of Significant Acc26

2. Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Use of Estimates, Policy	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. The Company regularly evaluates estimates and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. The most significant estimates with regard to these financial statements relate to carrying values of oil and gas properties, the assumptions used to record asset retirement obligations, the assumptions used to determine the fair value of derivative financial liabilities, and the estimated useful life of equipment.

2. Summary of Significant Acc27

2. Summary of Significant Accounting Policies: Oil and Gas Properties (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Oil and Gas Properties	Oil and Gas Properties The Company utilizes the full cost method to account for its investment in oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and gas reserves, including such costs as leasehold acquisition costs, interest costs relating to unproved properties, geological expenditures, tangible and intangible development costs including direct internal costs are capitalized to the full cost pool on a country-by country basis. When the Company commences production from established proven oil and gas reserves, capitalized costs, including estimated future costs to develop the reserves and estimated abandonment costs, net of salvage, will be depleted on the units-of-production method using estimates of proved reserves. Costs of unproved properties are not amortized until the proved reserves associated with the projects can be determined or until impairment occurs. If an assessment of such properties indicates that properties are impaired, the amount of impairment is added to the capitalized cost base to be amortized. The capitalized costs included in the full cost pool are subject to a "ceiling test", which limits such costs to the aggregate of the (i) estimated present value, using a ten percent discount rate, of the future net revenues from proved reserves, based on current economic and operating conditions, (ii) the lower of cost or estimated fair value of unproven properties included in the costs being amortized, (iii) the cost of properties not being amortized, less (iv) income tax effects related to differences between the book and tax basis of the cost of properties not being amortized and the cost or estimated fair value of unproved properties included in the costs being amortized. Sales of proved and unproved properties are accounted for as adjustments of capitalized costs with no gain or loss recognized, unless such adjustments would significantly alter the relationship between capitalized costs and proved reserves of oil and gas, in which case the gain or loss is recognized in the statement of operations. The Company’s oil and gas properties are under development with minimal production to date. Accordingly, no amortization is being recorded.

2. Summary of Significant Acc28

2. Summary of Significant Accounting Policies: Equipment (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Equipment	Equipment Equipment is recorded at cost and amortized on a straight line basis over 20 years.

2. Summary of Significant Acc29

2. Summary of Significant Accounting Policies: Asset Retirement Obligations (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Asset Retirement Obligations	Asset Retirement Obligations The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs an obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets. The estimated fair value of the asset retirement obligation is based on the current cost escalated at an inflation rate and discounted at a credit adjusted risk-free rate. This liability is capitalized as part of the cost of the related asset and amortized over its useful life. The liability accretes until the Company settles the obligation.

2. Summary of Significant Acc30

2. Summary of Significant Accounting Policies: Environmental Expenditures (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Environmental Expenditures	Environmental Expenditures Oil and gas activities are subject to extensive federal and state environmental laws and regulations. These laws, which are constantly changing, regulate the discharge of materials into the environment and may require the Company to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Expenditures that have future economic benefits are capitalized. Liabilities for expenditures of a non-capital nature are recorded when an environmental assessment and/or remediation is probable, and the costs can be reasonably estimated.

2. Summary of Significant Acc31

2. Summary of Significant Accounting Policies: Impairment of Long-term Assets (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Impairment of Long-term Assets	Impairment of Long-Term Assets The Company assesses its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Oil and gas interests accounted for under the full cost method are subject to a ceiling test, described above, and are excluded from this requirement.

2. Summary of Significant Acc32

2. Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments The estimated fair values for financial instruments are determined based on relevant market information. These estimates involve uncertainties and cannot be determined with precision. The estimated fair value of cash, receivable, loan receivable, accounts payable and accrued liabilities, amounts due to related parties, advance payable and note payable approximate their carrying value due to the short-term nature of those instruments. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 – Quoted prices in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and Level 3 – Unobservable inputs that are supported by little or no market activity, there for requiring an entity to develop its own assumptions about the assumption that market participants would use in pricing. The Company had certain level 3 assets required to be recorded at fair value on a recurring basis in accordance with US GAAP as at February 28, 2018. As at February 28, 2018, the Company’s Level 3 assets consist of shares and warrants of a private company. The resulting level 3 assets have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. As at February 28, 2018, the fair value of the level 3 assets was equal to $1,500,000 with their fair value based on the price paid to acquire the investment. A summary of the Company’s level 3 liabilities for the year ended February 28, 2018 and February 28, 2017 is as follows: February 28, 2018 February 28, 2017 Warrants Fair value, beginning of the year $ 2,590,477 $ 150,136 Issuance - 1,043,074 Change in fair value 6,325,077 1,397,267 Reallocation of derivative liability to equity upon the change in functional currency (8,915,554) - Ending fair value of warrants - 2,590,477 Embedded conversion feature Beginning fair value - - Bifurcation of embedded conversion feature - 199,999 Change in fair value - (199,999) Ending fair value of embedded conversion feature - - Fair value, end of the year $ - $ 2,590,477

2. Summary of Significant Acc33

2. Summary of Significant Accounting Policies: Basic and Diluted Income (loss) Per Share (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Basic and Diluted Income (loss) Per Share	Basic and Diluted Income (Loss) per Share Earnings or loss per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) by the weighted-average of all potentially dilutive shares of the common stock that were outstanding during the years presented. There were 5,323,698 (2017 - 6,123,698) potentially dilutive securities excluded from the calculation of diluted loss per share as their effect would be anti-dilutive. The treasury stock method is used in calculating diluted EPS for potentially dilutive stock options and share purchase warrants, which assumes that any proceeds received from the exercise of in-the-money stock options and share purchase warrants, would be used to purchase common shares at the average market price for the period.

2. Summary of Significant Acc34

2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Feb. 28, 2018
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-1, “Business Combinations: Clarifying the Definition of a Business.” The pronouncement changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The pronouncement requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU 2017-1 effective March 1, 2017. For the Company’s acquisitions during the year, it was concluded substantially all of the fair value of the assets acquired with each property acquisition was concentrated in a single identifiable asset and did not meet the definition of a business. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows.

3. Acquisitions_ Acquisition of

3. Acquisitions: Acquisition of Colony Energy LLC Table Text Block (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Acquisition of Colony Energy LLC Table Text Block	$ Oil and gas properties 108,000 Accounts payable and accrued liabilities (13,411) Advance payable (34,058) Due to related parties (60,000) Net assets 531 The total consideration for the acquisition is as follows: $ Par value of shares issued 21,000 Less: net assets (531) Excess consideration paid over the net assets of Colony 20,469

3. Acquisitions_ Acquisition 36

3. Acquisitions: Acquisition of Black Dragon Energy LLC Table Text Block (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Acquisition of Black Dragon Energy LLC Table Text Block	$ Oil and gas properties 119,863 Accounts payable and accrued liabilities (26,355) Net liabilities 93,508 The total consideration for the acquisition is as follows: $ Par value of shares issued 20,000 Cash paid 100,000 Less: net assets (93,508) Excess consideration paid over the net assets of Black Dragon 26,492

3. Acquisitions_ Acquisition 37

3. Acquisitions: Acquisition of Rolling Rock Resources LLC Table Text Block (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Acquisition of Rolling Rock Resources LLC Table Text Block	$ Oil and gas properties 130,397 Accounts payable and accrued liabilities (26,032) Net assets 104,365 The total consideration for the acquisition is as follows: $ Par value of shares issued 20,000 Cash paid 100,000 Less: net assets (104,365) Excess consideration paid over the net assets of Rolling Rock 15,635

3. Acquisitions_ Acquisition 38

3. Acquisitions: Acquisition of City of Gold LLC Table Text Block (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Acquisition of City of Gold LLC Table Text Block	$ Investments 1,500,000 Accounts payable and accrued liabilities (13,932) Note payable (1,516,302) Net liabilities (30,234) The total consideration for the acquisition is as follows: $ Par value of shares issued 15,000 Net liabilities assumed 30,234 Excess consideration paid over the net assets of City of Gold 45,233

4. Oil and Gas Properties_ Sche

4. Oil and Gas Properties: Schedule of Oil and Gas Properties Table Text Block (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Oil and Gas Properties Table Text Block	Compeer Godin Black Dragon Rolling Rock Total $ $ $ $ $ Balance, February 28, 2017 641,494 - - - 641,494 Acquisition - 108,000 719,863 730,397 1,558,260 Exploration 13,926 38,165 107,384 234,042 393,517 Exchange difference 38,083 - - - 38,083 Balance, February 28, 2018 693,503 146,165 827,247 964,439 2,631,354

7. Equipment_ Property, Plant a

7. Equipment: Property, Plant and Equipment (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Property, Plant and Equipment	February 28, 2018 Cost Accumulated Depreciation Net Book Value $ $ $ Oil and gas equipment 71,284 16,630 54,654 February 28, 2017 Cost Accumulated Depreciation Net Book Value $ $ $ Oil and gas equipment 67,289 12,333 54,956

12. Derivative Financial Liab41

12. Derivative Financial Liabilities - Warrants: Schedule of Derivative Liabilities at Fair Value (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Derivative Liabilities at Fair Value	Balance, February 29, 2016 $ 150,136 Warrants issued 1,043,074 Fair value adjustment 1,397,267 Balance, February 28, 2017 2,590,477 Fair value adjustment 6,325,077 Reallocation of derivative liability to equity upon the change in functional currency (8,915,554) Balance, February 28, 2018 $ -

13. Share Capital_ Warrants Out

13. Share Capital: Warrants Outstanding Table Text Block (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Warrants Outstanding Table Text Block	Number of Warrants Weighted Average Exercise Price per Warrant $ Outstanding at February 29, 2016 1,080,000 0.40 Issued 2,823,698 0.46 Expired (80,000) 1.50 Outstanding at February 28, 2017 3,823,698 0.44 Exercised (800,000) 0.60 Outstanding at February 28, 2018 3,023,698 0.40

13. Share Capital_ Schedule of

13. Share Capital: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Stockholders' Equity Note, Warrants or Rights	Exercise Price Number Outstanding Expiry Date $ 0.40 200,000 May 17, 2018 0.40 1,000,000 March 8, 2019 0.40 500,000 March 9, 2019 0.40 1,073,698 February 10, 2019 0.40 250,000 September 22, 2019 3,023,698

13. Share Capital_ Schedule o44

13. Share Capital: Schedule of Stockholders Equity (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Stockholders Equity	Exercise Price Number Outstanding and Exercisable Expiry Date Aggregate Intrinsic Value $ $ 0.10 2,300,000 November 3, 2020 6,969,000

14. Related Party Transactions_

14. Related Party Transactions: Schedule of Related Party Transactions (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Related Party Transactions	February 28, 2018 February 28, 2017 $ $ Due to directors and officers of the Company 445,912 48,831

15. Income Taxes_ Schedule of E

15. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	February 28, 2018 February 28, 2017 $ $ Loss before income taxes (8,305,069) (2,724,306) Statutory tax rate 21% 35% Expected recovery of income taxes computed at statutory rates (1,744,000) (954,000) Permanent differences 1,325,000 680,000 Effect of foreign exchange 145,000 4,000 Impact of change of enacted statutory tax rate 593,000 - Change in valuation allowance (319,000) 270,000 Provision for income taxes - -

15. Income Taxes_ Schedule of D

15. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Feb. 28, 2018
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	February 28, 2018 February 28, 2017 $ $ Deferred income tax assets: Operating loss carry forward 1,309,000 1,483,000 Oil and gas properties 197,000 342,000 Less: valuation allowance (1,506,000) (1,825,000) Deferred income tax assets, net - -

1. Nature and Continuance of 48

1. Nature and Continuance of Operations (Details)	12 Months Ended
	Feb. 28, 2018
Details
Entity Incorporation, State Country Name	Nevada
Entity Incorporation, Date of Incorporation	Jul. 9, 2004

3. Acquisitions_ Acquisition 49

3. Acquisitions: Acquisition of Colony Energy LLC Table Text Block (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Due to related parties	$ 445,912	$ 48,831
Colony Energy, LLC
Oil and Gas Properties Acquisition	108,000
Accounts Payable and Accrued Liabilities, Current	(13,411)
Advance Payable	(34,058)
Due to related parties	(60,000)
Net Assets	531
Par value of shares issued	21,000
Less: Net Assets	(531)
Excess Consideration Paid Over the Net Assets	$ 20,469

3. Acquisitions_ Acquisition 50

3. Acquisitions: Acquisition of Black Dragon Energy LLC Table Text Block (Details) - Black Dragon Energy, LLC	Feb. 28, 2018USD ($)
Oil and Gas Properties Acquisition	$ 119,863
Accounts Payable and Accrued Liabilities, Current	(26,355)
Liabilities	93,508
Par value of shares issued	20,000
Cash Paid	100,000
Less: Net Assets	(93,508)
Excess Consideration Paid Over the Net Assets	$ 26,492

3. Acquisitions_ Acquisition 51

3. Acquisitions: Acquisition of Rolling Rock Resources LLC Table Text Block (Details) - Rolling Rock Resources, LLC	Feb. 28, 2018USD ($)
Oil and Gas Properties Acquisition	$ 130,397
Accounts Payable and Accrued Liabilities, Current	(26,032)
Net Assets	104,365
Par value of shares issued	20,000
Cash Paid	100,000
Less: Net Assets	(104,365)
Excess Consideration Paid Over the Net Assets	$ 15,635

3. Acquisitions_ Acquisition 52

3. Acquisitions: Acquisition of City of Gold LLC Table Text Block (Details) - City of Gold, LLC	Feb. 28, 2018USD ($)
Investments	$ 1,500,000
Accounts Payable and Accrued Liabilities, Current	(13,932)
Notes Payable	(1,516,302)
Liabilities	(30,234)
Par value of shares issued	15,000
Net liabilities assumed	30,234
Excess consideration paid over the net assets of City of Gold	$ 45,233

4. Oil and Gas Properties_ Sc53

4. Oil and Gas Properties: Schedule of Oil and Gas Properties Table Text Block (Details) - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Compeer
Oil and Gas Properties	$ 693,503	$ 641,494
Exploration	13,926
Exchange Difference	38,083
Godin
Oil and Gas Properties	146,165
Acquisition	108,000
Exploration	38,165
Black Dragon
Oil and Gas Properties	827,247
Acquisition	719,863
Exploration	107,384
Rolling Rock
Oil and Gas Properties	964,439
Acquisition	730,397
Exploration	234,042
Total
Oil and Gas Properties	2,631,354	$ 641,494
Acquisition	1,558,260
Exploration	393,517
Exchange Difference	$ 38,083

4. Oil and Gas Properties (Deta

4. Oil and Gas Properties (Details) - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Details
Exploration and Production Costs	$ 693,503	$ 641,494

7. Equipment_ Property, Plant55

7. Equipment: Property, Plant and Equipment (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Cost
Property, Plant and Equipment, Net	$ 71,284	$ 67,289
Accumulated Depreciation
Property, Plant and Equipment, Net	16,630	12,333
Net Book Value
Property, Plant and Equipment, Net	$ 54,654	$ 54,956

8. Accounts Payable (Details)

8. Accounts Payable (Details)	Feb. 28, 2018USD ($)
Details
Settlement of Debt	$ 5,693
Gain on Debt Settlement	$ 13,599

9. Note Payable (Details)

9. Note Payable (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Details
Notes and Loans Payable	$ 19,942	$ 18,825

10. Advance Payable (Details)

10. Advance Payable (Details)	Feb. 28, 2017USD ($)
Details
Due to Unrelated Parties	$ 4,058

11. Asset Retirement Obligati59

11. Asset Retirement Obligation (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Details
Asset Retirement Obligations, Noncurrent	$ 28,352	$ 24,546

12. Derivative Financial Liab60

12. Derivative Financial Liabilities - Warrants: Schedule of Derivative Liabilities at Fair Value (Details) - Derivative Financial Liabilities - Warrants - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 29, 2016
Warrants		$ 2,590,477	$ 150,136
Warrants Issued		1,043,074
Fair Value Adjustment of Warrants	$ 6,325,077	$ 1,397,267
Reallocation of derivative liability to equity upon the change in functional currency	$ (8,915,554)

13. Share Capital (Details)

13. Share Capital (Details) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Nov. 30, 2016	Feb. 28, 2018	Feb. 28, 2017	Dec. 31, 2017	Nov. 30, 2017	Sep. 30, 2017	May 31, 2017	Apr. 30, 2017	Feb. 27, 2017	Feb. 26, 2017	Jan. 31, 2017	Jan. 30, 2017	Jan. 29, 2017	Jan. 28, 2017	Jan. 27, 2017	Nov. 29, 2016	May 31, 2016	May 30, 2016	Mar. 30, 2016
Common Stock, Shares Issued			117,872,458	37,537,556	800,000
Due to related parties			$ 445,912	$ 48,831
Colony
Common Stock, Shares Issued									21,000,000
Black Dragon
Common Stock, Shares Issued							250,000		20,000,000
Rolling Rock
Common Stock, Shares Issued							250,000		20,000,000
City of Gold
Common Stock, Shares Issued								15,000,000
Godin property
Common Stock, Shares Issued						30,000
Consulting Services
Common Stock, Shares Issued					400,000
During the Year Ended February 28, 2018
Common Stock, Shares Issued			2,597,142
Gross Proceeds for Subscriptions						$ 1,805,000
Finder's Fees			$ 105,200
During the Year Ended February 28, 2017
Common Stock, Shares Issued	250,000			1,310,000						800,000	1,073,698	1,680,000	182,832	121,888	236,571	400,000	400,000	353,521	200,000	500,000
Gross Proceeds for Subscriptions	$ 25,000			$ 327,500						$ 200,000	$ 1,509,022					$ 100,000	$ 100,000			$ 50,000
Finder's Fees				43,225
Shares Issued, Price Per Share																		$ 0.10	$ 0.21
SharesIssuedForServices		$ 73,621
Share Capital	250			41,000
Warrant Liability	$ 24,750			$ 32,621
Related Party Transaction, Due from (to) Related Party												$ 420,000
Accrued Liabilities, Current													$ 76,100
Due to related parties														$ 30,472
Accounts Payable, Current															$ 59,143

13. Share Capital_ Warrants O62

13. Share Capital: Warrants Outstanding Table Text Block (Details) - $ / shares	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017	Feb. 29, 2016
Details
Class of Warrant or Right, Outstanding	3,023,698	3,823,698	1,080,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.40	$ 0.44	$ 0.40
Debt Conversion, Converted Instrument, Warrants or Options Issued		2,823,698
Warrants per share issued		$ 0.46
Warrants Expired		(80,000)
Warrants Expired Price Per Share		$ 1.50
Warrants Exercised	(800,000)
Warrants Exercised Weighted Average Exercise Price	$ 0.60

13. Share Capital_ Schedule o63

13. Share Capital: Schedule of Stockholders' Equity Note, Warrants or Rights (Details)	12 Months Ended
	Feb. 28, 2018$ / sharesshares
Warrant1
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares	$ 0.40
Temporary Equity, Shares Outstanding | shares	200,000
Expiry Date	May 17, 2018
Warrant2
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares	$ 0.40
Temporary Equity, Shares Outstanding | shares	1,000,000
Expiry Date	Mar. 8, 2019
Warrant3
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares	$ 0.40
Temporary Equity, Shares Outstanding | shares	500,000
Expiry Date	Mar. 9, 2019
Warrant4
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares	$ 0.40
Temporary Equity, Shares Outstanding | shares	1,073,698
Expiry Date	Feb. 10, 2019
Warrant5
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $ / shares	$ 0.40
Temporary Equity, Shares Outstanding | shares	250,000
Expiry Date	Sep. 22, 2019

13. Share Capital_ Schedule o64

13. Share Capital: Schedule of Stockholders Equity (Details)	12 Months Ended
	Feb. 28, 2018USD ($)$ / sharesshares
Details
Exercise Price | $ / shares	$ 0.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	2,300,000
Expiration Date	Nov. 3, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 6,969,000

14. Related Party Transaction65

14. Related Party Transactions: Schedule of Related Party Transactions (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Details
Due from Officers or Stockholders, Current	$ 445,912	$ 48,831

15. Income Taxes_ Schedule of66

15. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Feb. 28, 2018	Feb. 28, 2017
Details
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$ (8,305,069)	$ (2,724,306)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ (1,744,000)	$ (954,000)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	1,325,000	680,000
Effect of Exchange Rate on Cash and Cash Equivalents	145,000	4,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	593,000
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ (319,000)	$ 270,000

15. Income Taxes_ Schedule of67

15. Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Feb. 28, 2018	Feb. 28, 2017
Details
Deferred Tax Assets, Operating Loss Carryforwards	$ 1,309,000	$ 1,483,000
Deferred Tax Assets, Property, Plant and Equipment	197,000	342,000
Deferred Tax Assets, Valuation Allowance	$ (1,506,000)	$ (1,825,000)