I-Minerals (IMAHF) 10-Q 14 Sep 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 31, 2017	Sep. 13, 2017
Document And Entity Information
Entity Registrant Name	I-Minerals Inc
Entity Central Index Key	1,405,663
Document Type	10-Q
Document Period End Date	Jul. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--04-30
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		89,484,792
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jul. 31, 2017	Apr. 30, 2017
Current assets
Cash	$ 45,193	$ 287,282
Receivables	8,889	7,169
Prepaids	59,814	65,259
[us-gaap:AssetsCurrent]	113,896	359,710
Equipment	10,219	9,090
Mineral property interest	485,813	305,850
Deposits	14,932	14,932
TOTAL ASSETS	624,860	689,582
Current liabilities
Accounts payable and accrued liabilities	844,656	1,168,606
Promissory notes	15,373,956	14,147,964
Derivative liabilities	770,786	1,188,937
[us-gaap:LiabilitiesCurrent]	16,989,398	16,505,507
Promissory notes	184,813	165,208
TOTAL LIABILITIES	17,174,211	16,670,715
CAPITAL DEFICIT
Unlimited common shares with no par value Issued and fully paid: 89,484,792 (April 30, 2017 - 89,372,359)	18,697,493	18,658,118
Additional paid-in capital	1,925,415	1,948,384
Commitment to issue shares	9,000	29,625
Deficit	(37,181,259)	(36,617,260)
TOTAL CAPITAL DEFICIT	(16,549,351)	(15,981,133)
TOTAL LIABILITIES AND CAPITAL DEFICIT	$ 624,860	$ 689,582

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2017	Apr. 30, 2017
Statement of Financial Position [Abstract]
Common Stock, par value
Common Stock, shares authorized
Common Stock, shares issued	89,484,792	89,372,359
Common Stock, shares outstanding	89,484,792	89,372,359

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
OPERATING EXPENSES
Amortization	$ 803	$ 599
Management and consulting fees	34,731	113,653
Mineral property expenditures	118,212	291,509
General and miscellaneous	136,924	235,879
Professional fees	95,615	99,236
[us-gaap:OperatingExpenses]	(386,285)	(740,876)
OTHER (EXPENSES) INCOME
Foreign exchange (loss) gain	(18,637)	(915)
Accretion expense	(150,925)	(125,117)
Interest expense	(463,296)	(354,752)
Change in fair value of derivative liabilities	455,144	(173,334)
LOSS FOR THE PERIOD	$ (563,999)	$ (1,394,994)
Loss per share - basic and diluted	$ (0.01)	$ (0.02)
Weighted average number of shares outstanding	89,398,956	86,818,952

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
OPERATING ACTIVITIES
Loss for the period	$ (563,999)	$ (1,394,994)
Items not involving cash:
Amortization	803	599
Stock-based compensation	9,829	72,169
Loss on settlement of liabilities
Accretion expense	150,925	125,117
Change in fair value of derivative liabilities	(455,144)	173,334
Unrealized foreign exchange loss	16,950
Change in non-cash operating working capital items:
Receivables	(1,720)	12,679
Prepaids	5,445	1,680
Accounts payable and accrued liabilities	526,717	316,992
Cash flows used in operating activities	(310,194)	(692,424)
INVESTING ACTIVITIES
Additions to mineral property interest	(179,963)
Purchase of equipment	(1,932)
Cash flows used in investing activities	(181,895)
FINANCING ACTIVITIES
Proceeds from exercise of stock options and warrants		167,736
Promissory notes received	250,000	800,000
Cash flows from financing activities	250,000	967,736
INCREASE (DECREASE) IN CASH	(242,089)	275,312
CASH, BEGINNING OF THE PERIOD	287,282	128,353
CASH, END OF THE PERIOD	45,193	403,665
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid
Taxes paid

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Capital Deficit (Equity) (Unaudited) - 3 months ended Jul. 31, 2017 - USD ($)	Common Stock	Commitment to Issue Shares	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance at Apr. 30, 2017	$ 18,658,118	$ 29,625	$ 1,948,384	$ (36,617,260)	$ (15,981,133)
Beginning Balance (in Shares) at Apr. 30, 2017	89,372,359				89,372,359
Shares issued as a debt discount	$ 39,375	(29,625)			$ 9,750
Shares issued as a debt discount (Shares)	112,433
Shares issuable as a debt discount		9,000			9,000
Share-based payments - vesting			9,829		9,829
Reallocation of vested options to liabilities			(32,798)		(32,798)
Loss for the period				(563,999)	(563,999)
Ending Balance at Jul. 31, 2017	$ 18,697,493	$ 9,000	$ 1,925,415	$ (37,181,259)	$ (16,549,351)
Ending Balance (Shares) at Jul. 31, 2017	89,484,792				89,484,792

NATURE OF BUSINESS AND BASIS OF

NATURE OF BUSINESS AND BASIS OF PRESENTATION AND LIQUIDITY	3 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION AND LIQUIDITY	1. NATURE OF BUSINESS AND BASIS OF PRESENTATION AND LIQUIDITY: I-Minerals Inc. (the “Company”) was incorporated under the laws of British Columbia, Canada, in 1984. The Company is listed for trading on the TSX Venture Exchange under the symbol “IMA” and the OTCQX marketplace under the symbol “IMAHF”. The Company’s principal business is the development of the Helmer-Bovill industrial mineral property (“the Property”) located in Latah County, Idaho. Since inception, the Company has been in the exploration stage but moved into the development stage in fiscal 2018. The Helmer-Bovill property is comprised of eleven mineral leases that host potentially economic deposits of feldspar, quartz and kaolinitic clays, primarily kaolinite and halloysite. Basis of Presentation and Liquidity The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information as well as Article 10 of Regulation S-X on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for the next year Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At July 31, 2017, the Company had not yet achieved profitable operations, had an accumulated deficit of $37,181,259 since inception and expects to incur further losses in the development of its business, all of which casts substantial doubt upon the Company’s ability to continue as a going concern and, therefore, that it may be unable to realize its assets and discharge its liabilities in the normal course of business. The financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of our management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three months ended July 31, 2017 are not necessarily indicative of the results that may be expected for the full year ending April 30, 2018. All amounts presented are in US dollars except where otherwise indicated. For further information refer to the financial statements and footnotes thereto for the year ended April 30, 2017 included in the Company’s Annual Report on Form 10-K filed on July 27, 2017. The Company’s ability to continue as a going concern is dependent upon its ability to obtain the necessary financing to develop the Property and to meet its obligations and repay its liabilities arising from normal business operations when they come due. Although the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms advantageous to the Company. The Company is currently receiving funds from a company controlled by a director of the Company through promissory notes (Notes 5 and 11).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Mineral Property and Exploration Costs Costs related to the development of our mineral reserves are capitalized when it has been determined an ore body can be economically developed. The development stage begins when an ore body is determined to be economically recoverable based on proven and probable reserves and appropriate permits are in place, and ends when the production stage or exploitation of reserves begins. Major mine development expenditures are capitalized, including primary development costs such as costs of building access ways, tailings impoundment, development of water supply and infrastructure developments. Exploration costs include those relating to activities carried out (a) in search of previously unidentified mineral deposits, or (b) at undeveloped concessions. Pre-development activities involve costs incurred in the exploration stage that may ultimately benefit production that are expensed due to the lack of evidence of economic development, which is necessary to demonstrate future recoverability of these expenses. Secondary development costs are incurred for preparation of an ore body for production in a specific ore block or work area, providing a relatively short-lived benefit only to the mine area they relate to, and not to the ore body as a whole. Drilling and related costs are either classified as exploration or secondary development, as defined above, and charged to operations as incurred, or capitalized, based on the following criteria: · Whether the costs are incurred to further define mineralization at and adjacent to existing reserve areas or intended to assist with mine planning within a reserve area; · Whether the drilling costs relate to an ore body that has been determined to be commercially mineable, and a decision has been made to put the ore body into commercial production; and · Whether, at the time that the cost is incurred, the expenditure: (a) embodies a probable future benefit that involves a capacity, singly or in combination, with other assets to contribute directly or indirectly to future net cash inflows, (b) we can obtain the benefit and control others’ access to it, and (c) the transaction or event giving rise to our right to or control of the benefit has already occurred. If all of these criteria are met, drilling and related costs are capitalized. Drilling costs not meeting all of these criteria are expensed as incurred. The following factors are considered in determining whether or not the criteria listed above have been met, and capitalization of drilling costs is appropriate: · Completion of a favourable economic study and mine plan for the ore body targeted; · Authorization of development of the ore body by management and/or the Board of Directors; and · All permitting and/or contractual requirements necessary for us to have the right to or control of the future benefit from the targeted ore body have been met. Once production has commenced, capitalized costs will be depleted using the units-of-production method over the estimated life of the proven and probable reserves. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to the Consolidated Statements of Loss in that period. We assess the carrying cost of our mineral properties for impairment whenever information or circumstances indicate the potential for impairment. Such evaluations compare estimated future net cash flows with our carrying costs and future obligations on an undiscounted basis. If it is determined that the future undiscounted cash flows are less than the carrying value of the property, a write down to the estimated fair value is charged to the Consolidated Statements of Loss for the period. Where estimates of future net cash flows are not available and where other conditions suggest impairment, management assesses if the carrying value can be recovered. Financial Instruments and Fair Value Measures The book value of cash, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to the immediate or short-term maturity of those instruments. The fair value hierarchy under US GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level I, quoted prices for similar assets or liabilities in active prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s promissory notes are based on Level 2 inputs in the ASC 820 fair value hierarchy. The Company calculated the fair value of these instruments by discounting future cash flows using rates representative of current borrowing rates. At July 31, 2017, the promissory notes had a fair value of $15,552,183 (April 30, 2017 – $13,781,276). The Company had certain Level 3 liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP as at July 31, 2017 and April 30, 2017. As at July 31, 2017, the Company’s Level 3 liabilities consisted of the warrants issued in connection with the Company’s offering of equity units in a private placement and warrants issued as financing fees as well as the grant of share purchase options to non-employees. The resulting Level 3 liabilities have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. A summary of the Company’s Level 3 liabilities for the three months ended July 31, 2017 and 2016 is as follows: 2017 $ 2016 $ Warrants (Note 6) Beginning fair value 742,583 326,595 Issuance 4,195 27,750 Change in fair value (306,893) 111,311 Ending fair value 439,885 465,656 Non-employee options (Note 7(c)) Beginning fair value 446,354 189,207 Fair value of options granted - - Fair value of options on vesting 32,798 - Change in fair value (148,251) 62,023 Ending fair value 330,901 251,230 Total Level 3 liabilities 770,786 716,886 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a nonrecurring basis during the periods ended July 31, 2017 and 2016. Earnings (Loss) Per Share The basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. For the three months ended July 31, 2017, loss per share excludes 10,992,130 (2016 – 12,524,012) potentially dilutive common shares (related to outstanding options and warrants as well as shares committed to be issued pursuant to the Third Promissory Notes) as their effect was anti-dilutive.

MINERAL PROPERTY INTEREST

MINERAL PROPERTY INTEREST	3 Months Ended
	Jul. 31, 2017
Extractive Industries [Abstract]
MINERAL PROPERTY INTEREST	3. MINERAL PROPERTY INTEREST: Helmer-Bovill Property – Latah County, Idaho In May 2017, the Idaho Department of Lands accepted our operation and reclamation plan. Together with a water rights permit from the Idaho Department of Water Resources, we are able to proceed with development and construction of the mine, subject to obtaining sufficient financing. As a result, Management made the decision to begin capitalizing all development expenditures directly related to the Helmer-Bovill Property. $ Balance at April 30, 2017 305,850 Engineering and consulting 90,028 Metallurgy 74,226 Permitting and environmental 6,000 Other direct costs 9,709 179,963 Balance at July 31, 2017 485,813 The Company has an undivided 100% interest in 11 State of Idaho mineral leases. The State of Idaho mineral leases are subject to a 5% production royalty on gross sales.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	3 Months Ended
	Jul. 31, 2017
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES: July 31, 2017 $ April 30, 2017 $ Trade payables 327,118 265,116 Amounts due to related parties (Note 8) 198,844 197,954 Interest payable on promissory notes (Note 5) 318,694 705,536 Total accounts payable and accrued liabilities 844,656 1,168,606

PROMISSORY NOTES

PROMISSORY NOTES	3 Months Ended
	Jul. 31, 2017
Debt Disclosure [Abstract]
PROMISSORY NOTES	5. PROMISSORY NOTES: July 31, 2017 $ April 30, 2017 $ Third promissory notes 15,373,956 14,147,964 Fourth promissory notes 184,813 165,208 Total promissory notes 15,558,769 14,313,172 Current 15,373,956 14,147,964 Non-current 184,813 165,208 Third Promissory Notes Effective August 31, 2016, the Company entered into an agreement (dated June 1, 2016) with a company controlled by a director of the Company (the “Lender”) pursuant to which up to an additional $2,965,000 will be advanced to the Company in tranches (the “Third Promissory Notes”). In addition, the First Promissory Notes and the Second Promissory Notes were amended and combined with the Third Promissory Notes with a modified maturity date of December 2, 2017. All other terms of the First Promissory Notes and the Second Promissory Notes remained unchanged. During the year ended April 30, 2017, the Company received $1,815,000 in advances pursuant to the Third Promissory Notes. During the three months ended July 31, 2017, the Company received $250,000 in advances. Subsequent to July 31, 2017, the Company received $300,000 in advances. The following table outlines the estimated cash payments required in order to repay the principal balance of the Third Promissory Notes: 2018 $ 2019 $ 2020 $ 2021 $ 2022 $ Total $ 15,559,324 - - - - 15,559,324 Certain conditions may result in early repayment including immediate repayment in the event a person currently not related to the Company acquires more than 40% of the outstanding common shares of the Company. Debt issuance costs will be amortized over the estimated maturity life of the promissory notes. The promissory notes bear interest at the rate of 12% per annum and during the three months ended July 31, 2017, the Company recorded interest of $457,567 (2016 - $354,752). Interest is payable semi-annually as calculated on May 31 st th The Company and the Lender agreed that the Lender is to receive bonus shares equal to 7.5% of each loan tranche advanced under the Third Promissory Notes divided by the Company’s common share market price. In addition, the Company will issue the Lender an equal number of share purchase warrants for each loan tranche advanced. Each bonus share purchase warrant will entitle the Lender to purchase one common share of the Company at a price equal to the greater of (a) the market price of the Company’s common shares on the date of the advance and (b) the volume weighted average price of the Company’s common shares over the twenty trading days immediately prior to the date of the advance. The bonus share purchase warrants expire on the earlier of (a) December 31, 2018 and (b) the date the advance has been repaid in full, including interest. During the three months ended July 31, 2017, the Company issued 112,433 bonus shares to the Lender at the fair value of $39,375, based on their quoted market price at the date the advances were received, including 88,089 shares having a fair value of $29,625 that the Company had committed to issue as at April 30, 2017. At July 31, 2017, the Company was committed to issuing an additional 31,427 bonus shares to the Lender at the fair value of $9,000. The fair value of the bonus shares was determined by reference to the trading price of the Company’s common shares on the date the advances were received. The fair value of 55,771 bonus share purchase warrants committed to be issued (based on advances received during the period) during the three months ended July 31, 2017 of $4,195 was estimated using the The aggregate finance fees (bonus shares and bonus warrants) are recorded against the promissory notes balance and are being amortized to the Statement of Loss over the life of the promissory notes using the effective interest method. The accretion expense in respect of the debt discount recorded on the issuance of bonus shares and warrants totalled $148,270 for the three months ended July 31, 2017 (2016 - $125,117). The unamortized debt discount as at July 31, 2017 is $185,368 (April 30, 2017 $310,693). The promissory notes are collateralized by the Company’s Helmer-Bovill Property. Fourth Promissory Notes On March 13, 2017, the Company entered into a loan agreement with an arm’s-length lender pursuant to which CAD$250,000 ($186,846) was advanced to the Company (the “Fourth Promissory Notes”). As at July 31, 2017, the balance of the Fourth Promissory Notes was CAD$250,000 ($200,100). The loan bears interest at a rate of 12% per annum and during the three months ended July 31, 2017, the Company recorded interest of $5,729. The Fourth Promissory Notes are unsecured The Company issued 40,761 bonus shares at the fair value of $14,013 and 40,761 bonus share purchase warrants at the fair value of $4,814. The aggregate finance fees (bonus shares and bonus warrants) are recorded against the Fourth Promissory Notes balance and are being amortized to the Statement of Loss over the life of the Fourth Promissory Notes using the effective interest method. The accretion expense in respect of the debt discount recorded on the issuance of bonus shares and warrants totalled $2,655 for the three months ended July 31, 2017. The unamortized debt discount as at July 31, 2017 is $15,287 (April 30, 2017 - $17,942).

WARRANT LIABILITIES

WARRANT LIABILITIES	3 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
WARRANT LIABILITIES	6. WARRANT LIABILITIES: The Company has share purchase warrants exercisable into common shares at an exercise price denominated in Canadian dollars. As a variable amount of US dollars are exercisable into a fixed number of common shares, the share purchase warrants are classified as derivative liabilities. The Company records the fair value of the share purchase warrants in accordance with ASC 815, “Derivatives and Hedging”. The Company uses the Black-Scholes option pricing model to calculate the fair values of the derivative liabilities. The fair value of the derivative liability is revalued on each balance sheet date with corresponding gains and losses recorded in the consolidated statement of loss. $ Balance, April 30, 2017 742,583 Bonus warrants issuable pursuant to promissory notes (Note 5) 4,195 Change in fair value of warrant derivatives (306,893) Balance, July 31, 2017 439,885 Warrant Derivative Liabilities At July 31 439,885 742,583 July 31 2017 April 30, 2017 Stock price (CAD$) 0.38 0.48 Exercise price (CAD$) 0.31 0.31 Risk-free interest rate (%) 0.73 1.15 Expected life (years) 1.45 1.70 Expected volatility (%) 51 61 Expected dividends ($) Nil Nil

SHARE CAPITAL

SHARE CAPITAL	3 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE CAPITAL	7. SHARE CAPITAL: Common shares a) Authorized: Unlimited number of common shares, without par value. The holders of common shares are entitled to receive dividends which are declared from time to time, and are entitled to one vote per share at meetings of the Company. All shares are ranked equally with regards to the Company’s residual assets. b) Stock transactions: During the three months ended July 31, 2017, the Company completed the following stock transactions: i) On July 11, 2017, the Company issued 112,433 common shares with a fair value of $39,375 including 88,089 common shares having a fair value of $29,625 which the Company had committed to issue at April 30, 2017. The common shares were issued as debt discounts pursuant to the Third Promissory Notes (Note 5). c) Stock options: The Company has granted stock options under the terms of its Stock Option Plan (the “Plan”). The Plan provides that the directors of the Company may grant options to purchase common shares to directors, officers, employees and service providers of the Company on terms that the directors of the Company may determine are within the limitations set forth in the Plan. The maximum number of shares available under the Plan is limited to 10% of the issued common shares. The maximum term of stock options is ten years. All stock options vest on the date of grant, unless otherwise stated. As at July 31, 2017, the Company had 2,393,479 stock options available for grant pursuant to the Plan (April 30, 2017 - 2,382,236). The Company’s stock options outstanding as at July 31, 2017 and April 30, 2017 and the changes for the periods then ended are as follows: Number Outstanding Weighted Average Exercise Price (in CAD$) Balance outstanding at April 30, 2017 6,555,000 0.22 Balance outstanding at July 31, 2017 6,555,000 0.22 Balance exercisable at July 31, 2017 5,925,000 0.22 Summary of stock options outstanding at : Security Number Outstanding Exercise Price (CAD$) Expiry Date Remaining Contractual Life (years) Stock options 1,300,000 0.10 July 30, 2018 1.00 Stock options 260,000 0.15 July 30, 2018 1.00 Stock options 300,000 0.25 July 30, 2018 1.00 Stock options 200,000 0.25 November 19, 2018 1.30 Stock options 150,000 0.25 January 8, 2019 1.44 Stock options 300,000 0.25 May 23, 2019 1.81 Stock options 150,000 0.25 December 16, 2017 0.38 Stock options 1,975,000 0.25 January 29, 2020 2.50 Stock options 200,000 0.25 August 4, 2020 3.01 Stock options 1,000,000 0.25 February 25, 2018 0.57 Stock options 20,000 0.22 May 19, 2018 0.80 Stock options 300,000 0.30 July 21, 2021 3.98 Stock options 400,000 0.30 November 3, 2021 4.26 Non-Employee Stock Options In accordance with the guidance of ASC 815-40-15, stock options awarded to non-employees that are fully vested and exercisable in Canadian dollars are required to be accounted for as derivative liabilities because they are considered not to be indexed to the Company’s stock due to their exercise price being denominated in a currency other than the Company’s functional currency. Stock options awarded to non-employees that are not vested are accounted for as equity awards until the terms associated with their vesting requirements have been met. As at July 31, 2017, there were 200,000 (April 30, 2017 – 300,000) non-employee stock option awards that had not yet vested. The non-employee stock options are accounted for at their respective fair values and are summarized as follows for the three months ended July 31, 2017 and 2016: 2017 $ 2016 $ Fair value of non-employee options, beginning of the period 446,354 189,207 Fair value of options on vesting 32,798 - Change in fair value of non-employee stock options during the period (148,251) 62,023 Fair value of non-employee options, end of the period 330,901 251,230 The Company determined the fair value of its non-employee stock options as at July 31, 2017 and April 30, 2017 using the Black-Scholes option pricing model with the following weighted average assumptions: July 31, 2017 April 30, 2017 Stock price (CAD$) 0.38 0.48 Exercise price (CAD$) 0.23 0.23 Risk-free interest rate (%) 0.90 0.83 Expected life (years) 1.44 1.56 Expected volatility (%) 58 59 Expected dividends ($) Nil Nil The non-employee options are required to be re-valued with the change in fair value of the liability recorded as a gain or loss on the change of fair value of derivative liability and included in other items in the Company’s Consolidated Statements of Loss at the end of each reporting period. The fair value of the options will continue to be classified as a liability until such time as they are exercised, expire or there is an amendment to the respective agreements that renders these financial instruments to be no longer classified as a liability. As at , the unamortized compensation cost of options is $60,675 and the intrinsic value of options expected to vest is $740,304 (CAD$924,225). Share-based payments are classified in the Company’s Statement of Loss during the three months ended July 31, 2017 and 2016 as follows: 2017 $ 2016 $ Management and consulting fees 9,829 72,169 9,829 72,169 d) Share purchase warrants: A summary of fully-exercisable share purchase warrants as at and April 30, 2017 and the changes for the periods then ended are as follows: Number Outstanding Weighted Average Exercise Price (CAD$) Balance at April 30, 2017 4,349,932 0.31 Issued 55,771 0.50 Balance at July 31, 2017 4,405,703 0.31 Summary of warrants outstanding and issuable at : Security Number Outstanding Exercise Price ($CAD) Expiry Date Warrants 730,848 0.22 December 31, 2018 (1) Warrants 242,545 0.23 December 31, 2018 (1) Warrants 194,344 0.24 December 31, 2018 (1) Warrants 37,203 0.245 December 31, 2018 (1) Warrants 393,058 0.255 December 31, 2018 (1) Warrants 192,206 0.259 December 31, 2018 (1) Warrants 126,843 0.265 December 31, 2018 (1) Warrants 198,750 0.272 December 31, 2018 (1) Warrants 95,781 0.291 December 31, 2018 (1) Warrants 100,373 0.295 December 31, 2018 (1) Warrants 101,095 0.298 December 31, 2018 (1) Warrants 49,294 0.299 December 31, 2018 (1) Warrants 150,246 0.310 December 31, 2018 (1) Warrants 58,496 0.335 December 31, 2018 (1) Warrants 30,139 0.405 December 31, 2018 (1) Warrants 40,761 0.460 December 31, 2018 (1) Warrants 25,621 0.470 December 31, 2018 (1) Warrants 63,756 0.475 December 31, 2018 (1) Warrants 24,344 0.540 December 31, 2018 (1) Warrants 1,550,000 0.40 January 31, 2019 Notes: (1) The warrants are exercisable until the earlier of the date disclosed or the date that the promissory note advance, including interest, is repaid (Note 5).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Jul. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	8. RELATED PARTY TRANSACTIONS: During the three months ended July 31, 2017, management and consulting fees of $24,000 (2016 - $24,026) were charged by RJG Capital Corporation, a wholly-owned company of W. Barry Girling, Director. Wayne Moorhouse, Director, charged $902 (2016 - $770) in management and consulting fees. $8,076 (2016 - $10,087) was charged by Malaspina Consultants Inc. for the services of Matt Anderson, CFO, and are included in professional fees. John Theobald, Director, charged $29,048 (2016 - $nil) in mineral property expenditures. Included in accounts payable and accrued liabilities are amounts owed to directors or officers or companies controlled by them. As at July 31, 2017, the amount was $198,844 (April 30, 2017 – The promissory notes received from a company controlled by a director (Notes 5 and 11) are related party transactions.

SEGMENT DISCLOSURES

SEGMENT DISCLOSURES	3 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
SEGMENT DISCLOSURES	9. SEGMENT DISCLOSURES: The Company considers its business to comprise a single operating segment being the exploration and development of its resource property. Substantially all of the Company’s long-term assets and operations are located in Latah County, Idaho.

NON-CASH TRANSACTIONS

NON-CASH TRANSACTIONS	3 Months Ended
	Jul. 31, 2017
Supplemental Cash Flow Elements [Abstract]
NON-CASH TRANSACTIONS	10. NON-CASH TRANSACTIONS: Investing and financing activities that affect recognized assets or liabilities but that do not result in cash receipts or cash payments are excluded from the consolidated statements of cash flows. During the three months ended July 31, 2017, the following transactions were excluded from the consolidated statement of cash flows: a) The commitment to issue 55,771 common shares at the fair value of $18,750 and 55,771 warrants at the fair value of $4,195 pursuant to the promissory notes. During the , the following transactions were excluded from the consolidated statement of cash flows: a) The commitment to issue 269,359 common shares at the fair value of $58,144 and 269,359 warrants at the fair value of $27,750 pursuant to the promissory notes.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jul. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS: Subsequent to : i) The Company received an aggregate of $300,000 of Third Promissory Notes.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Mineral Property and Exploration Costs	Mineral Property and Exploration Costs Costs related to the development of our mineral reserves are capitalized when it has been determined an ore body can be economically developed. The development stage begins when an ore body is determined to be economically recoverable based on proven and probable reserves and appropriate permits are in place, and ends when the production stage or exploitation of reserves begins. Major mine development expenditures are capitalized, including primary development costs such as costs of building access ways, tailings impoundment, development of water supply and infrastructure developments. Exploration costs include those relating to activities carried out (a) in search of previously unidentified mineral deposits, or (b) at undeveloped concessions. Pre-development activities involve costs incurred in the exploration stage that may ultimately benefit production that are expensed due to the lack of evidence of economic development, which is necessary to demonstrate future recoverability of these expenses. Secondary development costs are incurred for preparation of an ore body for production in a specific ore block or work area, providing a relatively short-lived benefit only to the mine area they relate to, and not to the ore body as a whole. Drilling and related costs are either classified as exploration or secondary development, as defined above, and charged to operations as incurred, or capitalized, based on the following criteria: · Whether the costs are incurred to further define mineralization at and adjacent to existing reserve areas or intended to assist with mine planning within a reserve area; · Whether the drilling costs relate to an ore body that has been determined to be commercially mineable, and a decision has been made to put the ore body into commercial production; and · Whether, at the time that the cost is incurred, the expenditure: (a) embodies a probable future benefit that involves a capacity, singly or in combination, with other assets to contribute directly or indirectly to future net cash inflows, (b) we can obtain the benefit and control others’ access to it, and (c) the transaction or event giving rise to our right to or control of the benefit has already occurred. If all of these criteria are met, drilling and related costs are capitalized. Drilling costs not meeting all of these criteria are expensed as incurred. The following factors are considered in determining whether or not the criteria listed above have been met, and capitalization of drilling costs is appropriate: · Completion of a favourable economic study and mine plan for the ore body targeted; · Authorization of development of the ore body by management and/or the Board of Directors; and · All permitting and/or contractual requirements necessary for us to have the right to or control of the future benefit from the targeted ore body have been met. Once production has commenced, capitalized costs will be depleted using the units-of-production method over the estimated life of the proven and probable reserves. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to the Consolidated Statements of Loss in that period. We assess the carrying cost of our mineral properties for impairment whenever information or circumstances indicate the potential for impairment. Such evaluations compare estimated future net cash flows with our carrying costs and future obligations on an undiscounted basis. If it is determined that the future undiscounted cash flows are less than the carrying value of the property, a write down to the estimated fair value is charged to the Consolidated Statements of Loss for the period. Where estimates of future net cash flows are not available and where other conditions suggest impairment, management assesses if the carrying value can be recovered.
Financial Instruments and Fair Value Measures	Financial Instruments and Fair Value Measures The book value of cash, accounts receivable, accounts payable and accrued liabilities approximate their fair values due to the immediate or short-term maturity of those instruments. The fair value hierarchy under US GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 - observable inputs other than Level I, quoted prices for similar assets or liabilities in active prices whose inputs are observable or whose significant value drivers are observable; and Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s promissory notes are based on Level 2 inputs in the ASC 820 fair value hierarchy. The Company calculated the fair value of these instruments by discounting future cash flows using rates representative of current borrowing rates. At July 31, 2017, the promissory notes had a fair value of $15,552,183 (April 30, 2017 – $13,781,276). The Company had certain Level 3 liabilities required to be recorded at fair value on a recurring basis in accordance with US GAAP as at July 31, 2017 and April 30, 2017. As at July 31, 2017, the Company’s Level 3 liabilities consisted of the warrants issued in connection with the Company’s offering of equity units in a private placement and warrants issued as financing fees as well as the grant of share purchase options to non-employees. The resulting Level 3 liabilities have no active market and are required to be measured at their fair value each reporting period based on information that is unobservable. A summary of the Company’s Level 3 liabilities for the three months ended July 31, 2017 and 2016 is as follows: 2017 $ 2016 $ Warrants (Note 6) Beginning fair value 742,583 326,595 Issuance 4,195 27,750 Change in fair value (306,893) 111,311 Ending fair value 439,885 465,656 Non-employee options (Note 7(c)) Beginning fair value 446,354 189,207 Fair value of options granted - - Fair value of options on vesting 32,798 - Change in fair value (148,251) 62,023 Ending fair value 330,901 251,230 Total Level 3 liabilities 770,786 716,886 Certain assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). There were no assets or liabilities measured at fair value on a nonrecurring basis during the periods ended July 31, 2017 and 2016.
Earnings (Loss) Per Share	Earnings (Loss) Per Share The basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. For the three months ended July 31, 2017, loss per share excludes 10,992,130 (2016 – 12,524,012) potentially dilutive common shares (related to outstanding options and warrants as well as shares committed to be issued pursuant to the Third Promissory Notes) as their effect was anti-dilutive.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Jul. 31, 2017
Accounting Policies [Abstract]
Summary of Liabilities	2017 $ 2016 $ Warrants (Note 6) Beginning fair value 742,583 326,595 Issuance 4,195 27,750 Change in fair value (306,893) 111,311 Ending fair value 439,885 465,656 Non-employee options (Note 7(c)) Beginning fair value 446,354 189,207 Fair value of options granted - - Fair value of options on vesting 32,798 - Change in fair value (148,251) 62,023 Ending fair value 330,901 251,230 Total Level 3 liabilities 770,786 716,886

MINERAL PROPERTY INTEREST (Tabl

MINERAL PROPERTY INTEREST (Tables)	3 Months Ended
	Jul. 31, 2017
Extractive Industries [Abstract]
Development Expenditures	$ Balance at April 30, 2017 305,850 Engineering and consulting 90,028 Metallurgy 74,226 Permitting and environmental 6,000 Other direct costs 9,709 179,963 Balance at July 31, 2017 485,813

ACCOUNTS PAYABLE AND ACCRUED 21

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	3 Months Ended
	Jul. 31, 2017
Payables and Accruals [Abstract]
Schedule of Accounts Payable And Accrued Liabilities	July 31, 2017 $ April 30, 2017 $ Trade payables 327,118 265,116 Amounts due to related parties (Note 8) 198,844 197,954 Interest payable on promissory notes (Note 5) 318,694 705,536 Total accounts payable and accrued liabilities 844,656 1,168,606

PROMISSORY NOTES (Tables)

PROMISSORY NOTES (Tables)	3 Months Ended
	Jul. 31, 2017
Debt Disclosure [Abstract]
Schedule of Promissory Notes	July 31, 2017 $ April 30, 2017 $ Third promissory notes 15,373,956 14,147,964 Fourth promissory notes 184,813 165,208 Total promissory notes 15,558,769 14,313,172 Current 15,373,956 14,147,964 Non-current 184,813 165,208
Schedule of Payments To Repay Principal Balance	2018 $ 2019 $ 2020 $ 2021 $ 2022 $ Total $ 15,559,324 - - - - 15,559,324

WARRANT LIABILITIES (Tables)

WARRANT LIABILITIES (Tables)	3 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Fair Value of Derivative Liabilities	$ Balance, April 30, 2017 742,583 Bonus warrants issuable pursuant to promissory notes (Note 5) 4,195 Change in fair value of warrant derivatives (306,893) Balance, July 31, 2017 439,885
Schedule of Weighted Average Assumptions of Derivative Liabilities	July 31 2017 April 30, 2017 Stock price (CAD$) 0.38 0.48 Exercise price (CAD$) 0.31 0.31 Risk-free interest rate (%) 0.73 1.15 Expected life (years) 1.45 1.70 Expected volatility (%) 51 61 Expected dividends ($) Nil Nil

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	3 Months Ended
	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options Outstanding	Number Outstanding Weighted Average Exercise Price (in CAD$) Balance outstanding at April 30, 2017 6,555,000 0.22 Balance outstanding at July 31, 2017 6,555,000 0.22 Balance exercisable at July 31, 2017 5,925,000 0.22
Summary Of Stock Options Outstanding	Security Number Outstanding Exercise Price (CAD$) Expiry Date Remaining Contractual Life (years) Stock options 1,300,000 0.10 July 30, 2018 1.00 Stock options 260,000 0.15 July 30, 2018 1.00 Stock options 300,000 0.25 July 30, 2018 1.00 Stock options 200,000 0.25 November 19, 2018 1.30 Stock options 150,000 0.25 January 8, 2019 1.44 Stock options 300,000 0.25 May 23, 2019 1.81 Stock options 150,000 0.25 December 16, 2017 0.38 Stock options 1,975,000 0.25 January 29, 2020 2.50 Stock options 200,000 0.25 August 4, 2020 3.01 Stock options 1,000,000 0.25 February 25, 2018 0.57 Stock options 20,000 0.22 May 19, 2018 0.80 Stock options 300,000 0.30 July 21, 2021 3.98 Stock options 400,000 0.30 November 3, 2021 4.26
Fair Values of Non-Employee Stock Options	2017 $ 2016 $ Fair value of non-employee options, beginning of the period 446,354 189,207 Fair value of options on vesting 32,798 - Change in fair value of non-employee stock options during the period (148,251) 62,023 Fair value of non-employee options, end of the period 330,901 251,230
Weighted Average Assumptions of Non-Employee Stock Options	July 31, 2017 April 30, 2017 Stock price (CAD$) 0.38 0.48 Exercise price (CAD$) 0.23 0.23 Risk-free interest rate (%) 0.90 0.83 Expected life (years) 1.44 1.56 Expected volatility (%) 58 59 Expected dividends ($) Nil Nil
Income Statement Share-based payments	2017 $ 2016 $ Management and consulting fees 9,829 72,169 9,829 72,169
Summary Of Fully-Exercisable Share Purchase Warrants	Number Outstanding Weighted Average Exercise Price (CAD$) Balance at April 30, 2017 4,349,932 0.31 Issued 55,771 0.50 Balance at July 31, 2017 4,405,703 0.31
Summary Of Warrants Outstanding And Issuable	Security Number Outstanding Exercise Price ($CAD) Expiry Date Warrants 730,848 0.22 December 31, 2018 (1) Warrants 242,545 0.23 December 31, 2018 (1) Warrants 194,344 0.24 December 31, 2018 (1) Warrants 37,203 0.245 December 31, 2018 (1) Warrants 393,058 0.255 December 31, 2018 (1) Warrants 192,206 0.259 December 31, 2018 (1) Warrants 126,843 0.265 December 31, 2018 (1) Warrants 198,750 0.272 December 31, 2018 (1) Warrants 95,781 0.291 December 31, 2018 (1) Warrants 100,373 0.295 December 31, 2018 (1) Warrants 101,095 0.298 December 31, 2018 (1) Warrants 49,294 0.299 December 31, 2018 (1) Warrants 150,246 0.310 December 31, 2018 (1) Warrants 58,496 0.335 December 31, 2018 (1) Warrants 30,139 0.405 December 31, 2018 (1) Warrants 40,761 0.460 December 31, 2018 (1) Warrants 25,621 0.470 December 31, 2018 (1) Warrants 63,756 0.475 December 31, 2018 (1) Warrants 24,344 0.540 December 31, 2018 (1) Warrants 1,550,000 0.40 January 31, 2019

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail) - Summary of Liabilities - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Total Level 3 liabilities	$ 770,786	$ 716,886
Warrants [Member]
Beginning fair value	742,583	326,595
Issuance	4,195	27,750
Change in fair value	(306,893)	111,311
Ending fair value	439,885	465,656
Non-employee Options [Member]
Beginning fair value	446,354	189,207
Granted
Vesting	32,798
Change in fair value	(148,251)	62,023
Ending fair value	$ 330,901	$ 251,230

MINERAL PROPERTY INTEREST (Deta

MINERAL PROPERTY INTEREST (Detail) - Development Expenditures	3 Months Ended
	Jul. 31, 2017USD ($)
Extractive Industries [Abstract]
Development Expenditures, Balance at April 30, 2017	$ 305,850
Engineering and consulting	90,028
Metallurgy	74,226
Permitting and environmental	6,000
Other direct costs	9,709
[us-gaap:ExplorationExpenseMining]	179,963
Development Expenditures, Balance at July 31, 2017	$ 485,813

ACCOUNTS PAYABLE AND ACCRUED 27

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Detail) - Schedule of Accounts Payable And Accrued Liabilities - USD ($)	Jul. 31, 2017	Apr. 30, 2017
Payables and Accruals [Abstract]
Trade payables	$ 327,118	$ 265,116
Amounts due to related parties	198,844	197,954
Interest payable on promissory notes and second promissory notes	318,694	705,536
Total accounts payable and accrued liabilities	$ 844,656	$ 1,168,606

PROMISSORY NOTES (Detail) - Sch

PROMISSORY NOTES (Detail) - Schedule of Promissory Notes - USD ($)	Jul. 31, 2017	Apr. 30, 2017
Current	$ 15,373,956	$ 14,147,964
Non-current	184,813	165,208
Third Promissory Note [Member]
Promissory notes	15,373,956	14,147,964
Forth Promissory Note [Member]
Promissory notes	184,813	165,208
Total [Member]
Promissory notes	$ 15,558,769	$ 14,313,172

PROMISSORY NOTES (Detail) - S29

PROMISSORY NOTES (Detail) - Schedule of Payments To Repay Principal Balance - Promissory Notes [Member]	Jul. 31, 2017USD ($)
2,018	$ 15,559,324
2,019
2,020
2,022
2,022
Total	$ 15,559,324

WARRANT LIABILITIES (Detail) -

WARRANT LIABILITIES (Detail) - Schedule of Weighted Average Assumptions of Derivative Liabilities - Warrants [Member] - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2017	Apr. 30, 2017
Stock price (CAD$)	$ 0.38	$ 0.48
Exercise price (CAD$)	$ 0.31	$ 0.31
Risk-free interest rate (%)	0.73%	1.15%
Expected life (years)	1 year 164 days 6 hours	1 year 255 days 12 hours
Expected volatility (%)	51.00%	61.00%
Expected dividends ($)

SHARE CAPITAL (Detail) - Stock

SHARE CAPITAL (Detail) - Stock Options Outstanding	3 Months Ended
	Jul. 31, 2017$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding, Beginning | shares	6,555,000
Outstanding, Weighted Average Exercise Price, Beginning | $ / shares	$ 0.22
Granted | shares
Granted, Weighted Average Exercise Price | $ / shares
Exercised | shares
Exercised, Weighted Average Exercise Price | $ / shares
Expired | shares
Expired, Weighted Average Exercise Price | $ / shares
Forfeited | shares
Forfeited, Weighted Average Exercise Price | $ / shares
Outstanding, Weighted Average Exercise Price | $ / shares	$ 0.22
Outstanding, End | shares	6,555,000
Exercisable, Weighted Average Exercise Price | $ / shares	$ 0.22
Exercisable, End | shares	5,925,000

SHARE CAPITAL (Detail) - Summar

SHARE CAPITAL (Detail) - Summary Of Stock Options Outstanding	3 Months Ended
	Jul. 31, 2017$ / sharesshares
Set 1 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	1,300,000
Exercise Price | $ / shares	$ 0.1
Expiry Date	Jul. 30, 2018
Remaining Contractual Life (years)	1 year
Set 2 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	260,000
Exercise Price | $ / shares	$ 0.15
Expiry Date	Jul. 30, 2018
Remaining Contractual Life (years)	1 year
Set 3 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	300,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Jul. 30, 2018
Remaining Contractual Life (years)	1 year
Set 4 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	200,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Nov. 19, 2018
Remaining Contractual Life (years)	1 year 109 days 12 hours
Set 5 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	150,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Jan. 8, 2019
Remaining Contractual Life (years)	1 year 160 days 14 hours 24 minutes
Set 6 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	300,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	May 23, 2019
Remaining Contractual Life (years)	1 year 295 days 15 hours 36 minutes
Set 7 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	150,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Dec. 16, 2017
Remaining Contractual Life (years)	138 days 16 hours 48 minutes
Set 8 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	1,975,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Jan. 29, 2020
Remaining Contractual Life (years)	2 years 6 months
Set 9 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	200,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Aug. 4, 2020
Remaining Contractual Life (years)	3 years 3 days 15 hours 36 minutes
Set 10 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	1,000,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Feb. 25, 2018
Remaining Contractual Life (years)	204 days 9 hours 36 minutes
Set 11 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	20,000
Exercise Price | $ / shares	$ 0.22
Expiry Date	May 19, 2018
Remaining Contractual Life (years)	292 days
Set 12 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	300,000
Exercise Price | $ / shares	$ 0.3
Expiry Date	Jul. 21, 2021
Remaining Contractual Life (years)	3 years 357 days 16 hours 48 minutes
Set 13 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	400,000
Exercise Price | $ / shares	$ 0.3
Expiry Date	Nov. 3, 2021
Remaining Contractual Life (years)	4 years 94 days 21 hours 36 minutes

SHARE CAPITAL (Detail) - Fair V

SHARE CAPITAL (Detail) - Fair Values of Non-Employee Stock Options - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Fair value of non-employee options, beginning of the period	$ 446,354	$ 189,207
Fair value of options on vesting	32,798
Change in fair value of non-employee stock options during the period	(148,251)	62,023
Fair value of non-employee options, end of the period	$ 330,901	$ 251,230

SHARE CAPITAL (Detail) - Weight

SHARE CAPITAL (Detail) - Weighted Average Grant Date Fair Value Of Stock Options Granted - Employee Stock Option [Member] - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2017	Apr. 30, 2017
Stock price (CAD$)	$ 0.38	$ 0.48
Exercise price (CAD$)	$ 0.23	$ 0.23
Risk-free interest rate (%)	0.90%	0.83%
Expected life (years)	1 year 160 days 14 hours 24 minutes	1 year 204 days 9 hours 36 minutes
Expected volatility (%)	58.00%	59.00%
Expected dividends ($)

SHARE CAPITAL (Detail) - Income

SHARE CAPITAL (Detail) - Income Statement Share-based payments - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share Based Payments, Management and consulting fees	$ 9,829	$ 72,169
Total	$ 9,829	$ 72,169

SHARE CAPITAL (Detail) - Summ36

SHARE CAPITAL (Detail) - Summary Of Fully-Exercisable Share Purchase Warrants	3 Months Ended
	Jul. 31, 2017$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number Outstanding, Beginning | shares	4,349,932
Weighted Average Exercise Price | $ / shares	$ 0.31
Issued | shares	55,771
Issued, Weighted Average Exercise Price | $ / shares	$ 0.50
Expired | shares
Expired, Weighted Average Exercise Price | $ / shares
Exercised | shares
Exercised, Weighted Average Exercise Price | $ / shares
Number Outstanding, End | shares	4,405,703
Weighted Average Exercise Price, End | $ / shares	$ 0.31

SHARE CAPITAL (Detail) - Summ37

SHARE CAPITAL (Detail) - Summary Of Warrants Outstanding And Issuable	3 Months Ended
	Jul. 31, 2017$ / sharesshares
Warrants 1 [Member]
Outstanding Stock Options | shares	730,848
Exercise Price | $ / shares	$ 0.22
Expiry Date	Dec. 31, 2018
Warrants 2 [Member]
Outstanding Stock Options | shares	242,545
Exercise Price | $ / shares	$ 0.23
Expiry Date	Dec. 31, 2018
Warrants 3 [Member]
Outstanding Stock Options | shares	194,344
Exercise Price | $ / shares	$ 0.24
Expiry Date	Dec. 31, 2018
Warrants 4 [Member]
Outstanding Stock Options | shares	37,203
Exercise Price | $ / shares	$ 0.245
Expiry Date	Dec. 31, 2018
Warrants 5 [Member]
Outstanding Stock Options | shares	393,058
Exercise Price | $ / shares	$ 0.255
Expiry Date	Dec. 31, 2018
Warrants 6 [Member]
Outstanding Stock Options | shares	192,206
Exercise Price | $ / shares	$ 0.259
Expiry Date	Dec. 31, 2018
Warrants 7 [Member]
Outstanding Stock Options | shares	126,843
Exercise Price | $ / shares	$ 0.265
Expiry Date	Dec. 31, 2018
Warrants 8 [Member]
Outstanding Stock Options | shares	198,750
Exercise Price | $ / shares	$ 0.272
Expiry Date	Dec. 31, 2018
Warrants 9 [Member]
Outstanding Stock Options | shares	95,781
Exercise Price | $ / shares	$ 0.291
Expiry Date	Dec. 31, 2018
Warrants 10 [Member]
Outstanding Stock Options | shares	100,373
Exercise Price | $ / shares	$ 0.295
Expiry Date	Dec. 31, 2018
Warrants 11 [Member]
Outstanding Stock Options | shares	101,095
Exercise Price | $ / shares	$ 0.298
Expiry Date	Dec. 31, 2018
Warrants 12 [Member]
Outstanding Stock Options | shares	49,294
Exercise Price | $ / shares	$ 0.299
Expiry Date	Dec. 31, 2018
Warrants 13 [Member]
Outstanding Stock Options | shares	150,246
Exercise Price | $ / shares	$ 0.31
Expiry Date	Dec. 31, 2018
Warrants 14 [Member]
Outstanding Stock Options | shares	58,496
Exercise Price | $ / shares	$ 0.335
Expiry Date	Dec. 31, 2018
Warrants 15 [Member]
Outstanding Stock Options | shares	30,139
Exercise Price | $ / shares	$ 0.405
Expiry Date	Dec. 31, 2018
Warrants 16 [Member]
Outstanding Stock Options | shares	40,761
Exercise Price | $ / shares	$ 0.46
Expiry Date	Dec. 31, 2018
Warrants 17 [Member]
Outstanding Stock Options | shares	25,621
Exercise Price | $ / shares	$ 0.47
Expiry Date	Dec. 31, 2018
Warrants 18 [Member]
Outstanding Stock Options | shares	63,756
Exercise Price | $ / shares	$ 0.475
Expiry Date	Dec. 31, 2018
Warrants 19 [Member]
Outstanding Stock Options | shares	24,344
Exercise Price | $ / shares	$ 0.54
Expiry Date	Dec. 31, 2018
Warrants 20 [Member]
Outstanding Stock Options | shares	1,550,000
Exercise Price | $ / shares	$ 0.4
Expiry Date	Jan. 31, 2019

NATURE OF BUSINESS AND BASIS 38

NATURE OF BUSINESS AND BASIS OF PRESENTATION AND LIQUIDITY (Details Narrative) - USD ($)	Jul. 31, 2017	Apr. 30, 2017
Accounting Policies [Abstract]
Accumulated Deficit	$ 37,181,259	$ 36,617,260

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Apr. 30, 2017
Shares Excluded from Loss Per Share, potentially dilutive	10,992,130	12,524,012
Promissory Notes [Member]
Notes Fair Value	$ 15,552,183		$ 13,781,276

MINERAL PROPERTY INTEREST (De40

MINERAL PROPERTY INTEREST (Details Narrative) - Idaho [Member]	3 Months Ended
	Jul. 31, 2017
Mineral Leases Interest	100.00%
Number of Mineral Leases	11
Mineral Royalty	The State of Idaho mineral leases are subject to a 5% production royalty on gross sales.

PROMISSORY NOTES (Details Narra

PROMISSORY NOTES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Jul. 31, 2017	Jul. 31, 2016	Apr. 30, 2017
Accretion Expense	$ (150,925)	$ (125,117)
Third Promissory Note [Member]
Promissory Notes Description	Effective August 31, 2016, the Company entered into an agreement (dated June 1, 2016) with a company controlled by a director of the Company (the “Lender”) pursuant to which up to an additional $2,965,000 will be advanced to the Company in tranches (the “Third Promissory Notes”). In addition, the First Promissory Notes and the Second Promissory Notes were amended and combined with the Third Promissory Notes with a modified maturity date of December 2, 2017. All other terms of the First Promissory Notes and the Second Promissory Notes remained unchanged.
Promissory Note Advance	$ 250,000		$ 1,815,000
Interest Rate	12.00%
Interest Recorded	$ 457,567	$ 354,752
Promissory Note Interest Payable Terms	Interest is payable semi-annually as calculated on May 31st and November 30th of each year. Interest is to be paid either in cash, in common shares or deemed an advance of principal at the option of the Lender.
Shares Issued, Shares	112,433		88,089
Shares Issued, Fair Value	$ 39,375		$ 29,625
Third Promissory Note [Member] | Bonus Shares [Member]
Shares Issued, Shares	31,427
Shares Issued, Fair Value	$ 9,000
Share Purchase Warrants, Shares	55,771
Share Purchase Warrants, Fair Value	$ 4,195
Black-Scholes Option Pricing Model Assumptions:
Stock price (CAD$)	$ 0.444
Exercise price (CAD$)	$ 0.503
Risk-free interest rate (%)	1.15%
Expected life (years)	1 year 189 days 19 hours 12 minutes
Expected volatility (%)	53.00%
Expected dividends ($)	$ 0
Fourth Promissory Note [Member]
Promissory Notes Description	On March 13, 2017, the Company entered into a loan agreement with an arm’s-length lender pursuant to which CAD$250,000 ($186,846) was advanced to the Company (the “Fourth Promissory Notes”).
Promissory Note Advance	$ 186,846
Promissory Note Balance	$ 200,100
Promissory Notes Due	Dec. 31, 2018
Interest Rate	12.00%
Interest Recorded	$ 5,729
Accretion Expense	2,655
Unamortized Debt Discount	$ 15,287		$ 17,942
Fourth Promissory Note [Member] | Bonus Shares [Member]
Shares Issued, Shares	40,761
Shares Issued, Fair Value	$ 14,013
Share Purchase Warrants, Shares	40,761
Share Purchase Warrants, Fair Value	$ 4,814

WARRANT LIABILITIES (Details Na

WARRANT LIABILITIES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2017	Apr. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Warrant Derivative Liabilities Fair Value	$ 439,885	$ 742,583

SHARE CAPITAL (Details Narrativ

SHARE CAPITAL (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2017	Apr. 30, 2017
Stock Options Available For Grant	2,393,479	2,382,236
Non Vested Stock Options	200,000	300,000
Unamortized Compensation Cost of Options	$ 60,675	$ 740,304
July 11, 2017 [Member]
Shares Issued, Shares	112,433
Shares Issued, Fair Value	$ 39,375
April 30, 2017 [Member]
Shares Issued, Shares	88,089
Shares Issued, Fair Value	$ 29,625

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2016	Apr. 30, 2017
Management And Consulting Fees	$ 34,731		$ 113,653
Professional fees	95,615		99,236
Accounts payable and accrued liabilities	844,656				$ 1,168,606
RJG Capital Corporation [Member]
Management And Consulting Fees	24,000		24,026
Wayne Moorhouse, Director [Member]
Management And Consulting Fees	902		770
Malaspina Consultants Inc. [Member]
Professional fees	8,076		$ 10,087
John Theobald, Director [Member]
Mineral Property Expenditures		$ 29,048
Directors Or Officers Or Companies Controlled By Them [Member]
Accounts payable and accrued liabilities	$ 198,844				$ 197,954

SEGMENT DISCLOSURES (Details Na

SEGMENT DISCLOSURES (Details Narrative)	3 Months Ended
	Jul. 31, 2017
Segment Reporting [Abstract]
Number of Operating Segments	1

NON-CASH TRANSACTIONS (Details

NON-CASH TRANSACTIONS (Details Narrative) - Pursuant To Promissory Notes [Member] - USD ($)	3 Months Ended
	Jul. 31, 2017	Jul. 31, 2016
Shares Issued, Shares	55,771	269,359
Shares Issued, Fair Value	$ 18,750	$ 58,144
Warrants, Shares	55,771	269,359
Warrants, Fair Value	$ 4,195	$ 27,750

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	1 Months Ended
	Sep. 13, 2017
Third Promissory Note [Member]
Event Description	The Company received an aggregate of $300,000 of Third Promissory Notes.