I-Minerals (IMAHF) 10-Q 14 Sep 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 31, 2018	Sep. 14, 2018
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, 2018
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		90,793,612
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jul. 31, 2018	Apr. 30, 2018
Current assets
Cash	$ 169,650	$ 213,322
Receivables	8,114	6,801
Prepaids	45,847	35,725
Current Assets	223,611	255,848
Equipment	15,686	14,118
Mineral property interest and deferred development costs	1,318,995	1,145,906
Deposits	28,728	28,728
TOTAL ASSETS	1,587,020	1,444,600
Current liabilities
Accounts payable and accrued liabilities	973,479	1,475,121
Promissory notes	19,742,893	18,240,855
Current Liabilities	142,129	300,690
TOTAL LIABILITIES	20,858,501	20,016,666
CAPITAL DEFICIT
Unlimited common shares with no par value Issued and fully paid: 90,431,955 (April 30, 2018 - 89,831,955)	18,882,000	18,787,998
Additional paid-in capital	1,865,342	1,890,220
Commitment to issue shares	81,000	50,625
Deficit	(40,099,823)	(39,300,909)
TOTAL CAPITAL DEFICIT	(19,271,481)	(18,572,066)
TOTAL LIABILITIES AND CAPITAL DEFICIT	$ 1,587,020	$ 1,444,600

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2018	Apr. 30, 2018
Statement of Financial Position [Abstract]
Common Stock, par value
Common Stock, shares authorized
Common Stock, shares issued	90,431,955	89,831,955
Common Stock, shares outstanding	90,431,955	89,831,955

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
OPERATING EXPENSES
Amortization	$ 1,187	$ 803
Management and consulting fees	49,084	34,731
Mineral property expenditures	53,566	118,212
General and miscellaneous	147,023	136,924
Professional fees	74,087	95,615
Operating Expenses	(324,947)	(386,285)
OTHER (EXPENSES) INCOME
Foreign exchange gain (loss)	1,872	(18,637)
Accretion expense	(62,331)	(150,925)
Interest expense	(550,631)	(463,296)
Change in fair value of derivative liabilities	137,123	455,144
LOSS FOR THE PERIOD	$ (798,914)	$ (563,999)
Loss per share - basic and diluted	$ (0.01)	$ (0.01)
Weighted average number of shares outstanding	89,844,858	89,398,956

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
OPERATING ACTIVITIES
Loss for the period	$ (798,914)	$ (563,999)
Items not involving cash:
Amortization	1,187	803
Stock-based compensation		9,829
Accretion expense	62,331	150,925
Change in fair value of derivative liabilities	(137,123)	(455,144)
Unrealized foreign exchange (gain) loss	(2,708)	16,950
Change in non-cash operating working capital items:
Receivables	(1,313)	(1,720)
Prepaids	(10,122)	5,445
Accounts payable and accrued liabilities	594,069	526,717
Cash flows used in operating activities	(292,593)	(310,194)
INVESTING ACTIVITIES
Additions to mineral property interest	(199,408)	(179,963)
Purchase of equipment	(2,755)	(1,932)
Cash flows used in investing activities	(202,163)	(181,895)
FINANCING ACTIVITIES
Proceeds from exercise of stock options and warrants	46,084
Promissory notes received	405,000	250,000
Cash flows from financing activities	451,084	250,000
DECREASE IN CASH	(43,672)	(242,089)
CASH, BEGINNING OF THE PERIOD	213,322	287,282
CASH, END OF THE PERIOD	169,650	45,193
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid
Taxes paid

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Capital Deficit (Equity) (Unaudited) - 3 months ended Jul. 31, 2018 - USD ($)	Common Stock	Commitment to Issue Shares	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance at Apr. 30, 2018	$ 18,787,998	$ 50,625	$ 1,890,220	$ (39,300,909)	$ (18,572,066)
Beginning Balance (in Shares) at Apr. 30, 2018	89,831,955				89,831,955
Shares issued on exercise of options	$ 94,002		(24,878)		$ 69,124
Shares issued on exercise of options (Shares)	600,000
Shares issuable as a debt discount		30,375			30,375
Loss for the period				(798,914)	(798,914)
Ending Balance at Jul. 31, 2018	$ 18,882,000	$ 81,000	$ 865,342	$ (40,099,823)	$ (19,271,481)
Ending Balance (Shares) at Jul. 31, 2018	90,431,955				90,431,955

NATURE OF BUSINESS AND BASIS OF

NATURE OF BUSINESS AND BASIS OF PRESENTATION AND LIQUIDITY	3 Months Ended
	Jul. 31, 2018
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, 2018, the Company had not yet achieved profitable operations, had an accumulated deficit of $ 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, 2018 are not necessarily indicative of the results that may be expected for the full year ending April 30, 2019. 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, 2018 included in the Company’s Annual Report on Form 10-K filed on August 3, 2018. 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 has been 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, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: 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, 2018, the promissory notes had a fair value of $19,431,479 (April 30, 2018 – $17,797,330). 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, 2018 and April 30, 2018. As at July 31, 2018, 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, 2018 and 2017 is as follows: 2018 $ 2017 $ Warrants (Note 6) Beginning fair value 95,570 742,583 Issuance 1,602 4,195 Change in fair value (53,433) (306,893) Ending fair value 43,739 439,885 Non-employee options (Note 7(c)) Beginning fair value 205,120 446,354 Transfer value on exercise (23,040) - Fair value of options on vesting - 32,798 Change in fair value (83,690) (148,251) Ending fair value 98,390 330,901 Total Level 3 liabilities 142,129 770,786 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 non-recurring basis during the periods ended July 31, 2018 and 2017. 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, 2018, loss per share excludes 9,914,001 (2017 – 10,992,130) 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, 2018
Extractive Industries [Abstract]
MINERAL PROPERTY INTEREST	3. MINERAL PROPERTY INTEREST AND DEFERRED DEVELOPMENT COSTS: Helmer-Bovill Property – Latah County, Idaho 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. The mineral leases are in good standing until March 1, 2023 at which time they will be held by us contingent on production. 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, 2018 1,145,906 Engineering and consulting 55,827 Metallurgy 43,003 Permitting and environmental 8,266 Interest on Promissory Notes 37,796 Other direct costs 28,197 Balance at July 31, 2018 1,318,995

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	3 Months Ended
	Jul. 31, 2018
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	4. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES: July 31, 2018 $ April 30, 2018 $ Trade payables 283,206 314,343 Amounts due to related parties (Note 8) 296,492 268,801 Interest payable on promissory notes (Note 5) 393,781 891,977 Total accounts payable and accrued liabilities 973,479 1,475,121

PROMISSORY NOTES

PROMISSORY NOTES	3 Months Ended
	Jul. 31, 2018
Debt Disclosure [Abstract]
PROMISSORY NOTES	5. PROMISSORY NOTES: July 31, 2018 $ April 30, 2018 $ Third promissory notes 19,555,503 18,053,412 Fourth promissory notes 187,390 187,443 Total promissory notes 19,742,893 18,240,855 Third Promissory Notes On June 1, 2016, October 25, 2017, January 19, 2018 and March 30, 2018, the Company entered into agreements with the Lender pursuant to which up to an additional $4,045,000 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 March 31, 2019. As at April 30, 2018, the Company had received $3,640,000 in advances pursuant to the Third Promissory Notes. During the three months ended July 31, 2018, the Company received the final $405,000 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 $ - 19,723,796 - - - 19,723,796 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, 2018, the Company recorded interest of $580,865 (2017 - $457,567), of which $37,796 was capitalized to mineral property interest and $543,069 was expensed. 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, 2018, the Company did not issue any bonus shares to the Lender. At July 31, 2018, the Company was committed to issuing 361,657 bonus shares to the Lender at the fair value of $81,000. 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 139,984 bonus share purchase warrants committed to be issued (based on advances received during the period) during the three months ended July 31, 2018 of $1,602 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions: stock price – CAD$0.239; exercise price – CAD$0.290; expected risk-free interest rate – 0.73%; expected life – 0.57 years; expected volatility – 43% and expected dividend rate – 0%. 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 $59,676 for the three months ended July 31, 2018 (2017 - $148,270). The unamortized debt discount as at July 31, 2018 is $168,292 (April 30, 2018 $195,991). 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, 2018, the balance of the Fourth Promissory Notes was CAD$250,000 ($192,057). The loan bears interest at a rate of 12% per annum and during the three months ended July 31, 2018, the Company recorded interest of $7,562 (2017 - $5,729). The Fourth Promissory Notes are unsecured 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, 2018 (2017 - $2,655). The unamortized debt discount as at July 31, 2018 is $4,667 (April 30, 2018 - $7,322).

WARRANT LIABILITIES

WARRANT LIABILITIES	3 Months Ended
	Jul. 31, 2018
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, 2018 95,570 Bonus warrants issuable pursuant to promissory notes (Note 5) 1,602 Change in fair value of warrant derivatives (53,433) Balance, July 31, 2018 43,739 At July 31 July 31, 2018 April 30, 2018 Stock price (CAD$) 0.20 0.26 Exercise price (CAD$) 0.31 0.32 Risk-free interest rate (%) 0.73 0.73 Expected life (years) 0.45 0.70 Expected volatility (%) 50 40 Expected dividends ($) Nil Nil

SHARE CAPITAL

SHARE CAPITAL	3 Months Ended
	Jul. 31, 2018
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, 2018, the Company completed the following stock transactions: i) On July 30, 2018, the Company issued 600,000 common shares on the exercise of stock options with an exercise price of CAD$0.10 per common share resulting in gross proceeds of CAD$60,000 ($46,085). c) Stock options: The Company has granted stock options under the terms of its Stock Option Plan (the “Plan”). The Plan provides that the directors of the Company may grant options to purchase common shares to directors, officers, employees and service providers of the Company on terms that the directors of the Company may determine are within the limitations set forth in the Plan. The maximum number of shares available under the Plan is limited to 10% of the issued common shares. The maximum term of stock options is ten years. All stock options vest on the date of grant, unless otherwise stated. As at July 31, 2018, the Company had 4,518,196 stock options available for grant pursuant to the Plan (April 30, 2018 - 2,578,196). The Company’s stock options outstanding as at July 31, 2018 and April 30, 2018 and the changes for the period then ended are as follows: Number Outstanding Weighted Average Exercise Price (in CAD$) Balance outstanding at April 30, 2018 6,405,000 0.22 Exercised (600,000) 0.10 Expired (1,280,000) 0.15 Balance outstanding at July 31, 2018 4,525,000 0.26 Balance exercisable at July 31, 2018 4,525,000 0.26 Summary of stock options outstanding at July 31, 2018: Security Number Outstanding Exercise Price (CAD$) Expiry Date Remaining Contractual Life (years) Stock options 200,000 0.25 November 19, 2018 0.30 Stock options 150,000 0.25 January 8, 2019 0.44 Stock options 300,000 0.25 May 23, 2019 0.81 Stock options 1,975,000 0.25 January 29, 2020 1.50 Stock options 200,000 0.25 August 4, 2020 2.01 Stock options 300,000 0.30 July 21, 2021 2.98 Stock options 400,000 0.30 November 3, 2021 3.26 Stock options 1,000,000 0.25 April 20, 2022 3.72 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, 2018, there were nil (2017 – 200,000) 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, 2018 and 2017: 2018 $ 2017 $ Fair value of non-employee options, beginning of the period 205,120 446,354 Fair value of options on vesting - 32,798 Transfer value on exercise of options (23,040) - Change in fair value of non-employee stock options during the period (83,690) (148,251) Fair value of non-employee options, end of the period 98,390 330,901 The Company determined the fair value of its non-employee stock options as at July 31, 2018 and April 30, 2018 using the Black-Scholes option pricing model with the following weighted average assumptions: July 31, 2018 April 30, 2018 Stock price (CAD$) 0.20 0.26 Exercise price (CAD$) 0.26 0.23 Risk-free interest rate (%) 1.26 1.07 Expected life (years) 2.88 1.86 Expected volatility (%) 59 49 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 July 31 , the unamortized compensation cost of options is $nil and the intrinsic value of options expected to vest is $nil. Share-based payments are classified in the Company’s Statement of Loss during the three months ended July 31, 2018 and 2017 as follows: 2018 $ 2017 $ Management and consulting fees - 9,829 - 9,829 d) Share purchase warrants: A summary of fully-exercisable share purchase warrants as at July 31, 2018 and April 30, 2018 and the changes for the periods then ended are as follows: Number Outstanding Weighted Average Exercise Price (CAD$) Balance at April 30, 2018 4,887,360 0.32 Issued 139,984 0.29 Balance at July 31, 2018 5,027,344 0.31 Summary of warrants outstanding and issuable at : Security Number Outstanding Exercise Price ($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 269,951 0.290 December 31, 2018 (1) Warrants 95,781 0.291 December 31, 2018 (1) Warrants 100,373 0.295 December 31, 2018 (1) Warrants 175,979 0.298 December 31, 2018 (1) Warrants 49,294 0.299 December 31, 2018 (1) Warrants 83,205 0.301 December 31, 2018 (1) Warrants 150,246 0.310 December 31, 2018 (1) Warrants 65,514 0.320 December 31, 2018 (1) Warrants 58,059 0.330 December 31, 2018 (1) Warrants 58,496 0.335 December 31, 2018 (1) Warrants 35,997 0.383 December 31, 2018 (1) Warrants 30,139 0.405 December 31, 2018 (1) Warrants 34,031 0.420 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, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	8. RELATED PARTY TRANSACTIONS: During the three months ended July 31, 2018, management and consulting fees of $24,000 (2017 - $24,000) were charged by RJG Capital Corporation, a wholly-owned company of W. Barry Girling, Director. Wayne Moorhouse, Director, charged $768 (2017 - $902) in management and consulting fees. $8,169 (2017 - $8,076) was charged by Malaspina Consultants Inc. for the services of Matt Anderson, CFO, and are included in professional fees. Included in accounts payable and accrued liabilities are amounts owed to directors or officers or companies controlled by them. As at July 31, 2018, the amount was $296,492 (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, 2018
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, 2018
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, 2018, the following transactions were excluded from the consolidated statement of cash flows: a) The commitment to issue 139,984 common shares at the fair value of $30,375 and 139,984 warrants at the fair value of $1,602 pursuant to the promissory notes; b) The transfer of $1,069,392 of interest payable on the Third Promissory Notes from accounts payable and accrued liabilities to promissory notes; and, c) Deferred mineral property expenditures of $114,242 included in accounts payable and accrued liabilities at July 31, 2018, less $140,561 included in accounts payable at April 30, 2018 (net inclusion of $26,319). During the , 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jul. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	11. SUBSEQUENT EVENTS: Subsequent to July 31, 2018: i) On August 10, 2018, the Company granted 1,250,000 stock options to the CEO of the company at an exercise price of CAD$0.25 for a period of five years. The stock options vesting subject to securing financing to build the Bovill Kaolin mine and the attainment of commercial production. In addition, the Company granted 200,000 stock options to a consultant at an exercise price of CAD$0.25 for a period of five years. The options vest as to 25% every three months from the date of grant. ii) On August 10, 2018, the Company issued 361,657 bonus shares to the Lender pursuant to the Third Promissory Notes (Note 5). iii) On September 11, 2018, the Company entered into a Loan Agreement with a company controlled by a director of the Company (the “Lender”) pursuant to which up to $2,500,000 will be advanced to the Company in tranches (the “Fifth Promissory Notes”). The Fifth Promissory Notes bear interest at the rate of 14% per annum payable semi-annually as calculated on May 31 st th

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jul. 31, 2018
Accounting Policies [Abstract]
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, 2018, the promissory notes had a fair value of $19,431,479 (April 30, 2018 – $17,797,330). 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, 2018 and April 30, 2018. As at July 31, 2018, 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, 2018 and 2017 is as follows: 2018 $ 2017 $ Warrants (Note 6) Beginning fair value 95,570 742,583 Issuance 1,602 4,195 Change in fair value (53,433) (306,893) Ending fair value 43,739 439,885 Non-employee options (Note 7(c)) Beginning fair value 205,120 446,354 Transfer value on exercise (23,040) - Fair value of options on vesting - 32,798 Change in fair value (83,690) (148,251) Ending fair value 98,390 330,901 Total Level 3 liabilities 142,129 770,786 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 non-recurring basis during the periods ended July 31, 2018 and 2017.
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, 2018, loss per share excludes 9,914,001 (2017 – 10,992,130) 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, 2018
Accounting Policies [Abstract]
Summary of Liabilities	2018 $ 2017 $ Warrants (Note 6) Beginning fair value 95,570 742,583 Issuance 1,602 4,195 Change in fair value (53,433) (306,893) Ending fair value 43,739 439,885 Non-employee options (Note 7(c)) Beginning fair value 205,120 446,354 Transfer value on exercise (23,040) - Fair value of options on vesting - 32,798 Change in fair value (83,690) (148,251) Ending fair value 98,390 330,901 Total Level 3 liabilities 142,129 770,786

MINERAL PROPERTY INTEREST (Tabl

MINERAL PROPERTY INTEREST (Tables)	3 Months Ended
	Jul. 31, 2018
Extractive Industries [Abstract]
Development Expenditures	$ Balance at April 30, 2018 1,145,906 Engineering and consulting 55,827 Metallurgy 43,003 Permitting and environmental 8,266 Interest on Promissory Notes 37,796 Other direct costs 28,197 Balance at July 31, 2018 1,318,995

ACCOUNTS PAYABLE AND ACCRUED 21

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	3 Months Ended
	Jul. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable And Accrued Liabilities	July 31, 2018 $ April 30, 2018 $ Trade payables 283,206 314,343 Amounts due to related parties (Note 8) 296,492 268,801 Interest payable on promissory notes (Note 5) 393,781 891,977 Total accounts payable and accrued liabilities 973,479 1,475,121

PROMISSORY NOTES (Tables)

PROMISSORY NOTES (Tables)	3 Months Ended
	Jul. 31, 2018
Debt Disclosure [Abstract]
Schedule of Promissory Notes	July 31, 2018 $ April 30, 2018 $ Third promissory notes 19,555,503 18,053,412 Fourth promissory notes 187,390 187,443 Total promissory notes 19,742,893 18,240,855
Schedule of Payments To Repay Principal Balance	2018 $ 2019 $ 2020 $ 2021 $ 2022 $ Total $ - 19,555,503 - - - 19,555,503

WARRANT LIABILITIES (Tables)

WARRANT LIABILITIES (Tables)	3 Months Ended
	Jul. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Fair Value of Derivative Liabilities	$ Balance, April 30, 2018 95,570 Bonus warrants issuable pursuant to promissory notes (Note 5) 1,602 Change in fair value of warrant derivatives (53,433) Balance, July 31, 2018 43,739
Schedule of Weighted Average Assumptions of Derivative Liabilities	July 31, 2018 April 30, 2018 Stock price (CAD$) 0.20 0.26 Exercise price (CAD$) 0.31 0.32 Risk-free interest rate (%) 0.73 0.73 Expected life (years) 0.45 0.70 Expected volatility (%) 50 40 Expected dividends ($) Nil Nil

SHARE CAPITAL (Tables)

SHARE CAPITAL (Tables)	3 Months Ended
	Jul. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options Outstanding	Number Outstanding Weighted Average Exercise Price (in CAD$) Balance outstanding at April 30, 2018 6,405,000 0.22 Exercised (600,000) 0.10 Expired (1,280,000) 0.15 Balance outstanding at July 31, 2018 4,525,000 0.26 Balance exercisable at July 31, 2018 4,525,000 0.26
Summary Of Stock Options Outstanding	Security Number Outstanding Exercise Price (CAD$) Expiry Date Remaining Contractual Life (years) Stock options 200,000 0.25 November 19, 2018 0.30 Stock options 150,000 0.25 January 8, 2019 0.44 Stock options 300,000 0.25 May 23, 2019 0.81 Stock options 1,975,000 0.25 January 29, 2020 1.50 Stock options 200,000 0.25 August 4, 2020 2.01 Stock options 300,000 0.30 July 21, 2021 2.98 Stock options 400,000 0.30 November 3, 2021 3.26 Stock options 1,000,000 0.25 April 20, 2022 3.72
Fair Values of Non-Employee Stock Options	2018 $ 2017 $ Fair value of non-employee options, beginning of the period 205,120 446,354 Fair value of options on vesting - 32,798 Transfer value on exercise of options (23,040) - Change in fair value of non-employee stock options during the period (83,690) (148,251) Fair value of non-employee options, end of the period 98,390 330,901
Weighted Average Assumptions of Non-Employee Stock Options	July 31, 2018 April 30, 2018 Stock price (CAD$) 0.20 0.26 Exercise price (CAD$) 0.26 0.23 Risk-free interest rate (%) 1.26 1.07 Expected life (years) 2.88 1.86 Expected volatility (%) 59 49 Expected dividends ($) Nil Nil
Income Statement Share-based payments	2018 $ 2017 $ Management and consulting fees - 9,829 - 9,829
Summary Of Fully-Exercisable Share Purchase Warrants	Number Outstanding Weighted Average Exercise Price (CAD$) Balance at April 30, 2018 4,887,360 0.32 Issued 139,984 0.29 Balance at July 31, 2018 5,027,344 0.31
Summary Of Warrants Outstanding And Issuable	Security Number Outstanding Exercise Price ($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 269,951 0.290 December 31, 2018 (1) Warrants 95,781 0.291 December 31, 2018 (1) Warrants 100,373 0.295 December 31, 2018 (1) Warrants 175,979 0.298 December 31, 2018 (1) Warrants 49,294 0.299 December 31, 2018 (1) Warrants 83,205 0.301 December 31, 2018 (1) Warrants 150,246 0.310 December 31, 2018 (1) Warrants 65,514 0.320 December 31, 2018 (1) Warrants 58,059 0.330 December 31, 2018 (1) Warrants 58,496 0.335 December 31, 2018 (1) Warrants 35,997 0.383 December 31, 2018 (1) Warrants 30,139 0.405 December 31, 2018 (1) Warrants 34,031 0.420 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, 2018	Jul. 31, 2017
Total Level 3 liabilities	$ 142,129	$ 770,786
Warrants [Member]
Beginning fair value	95,570	742,583
Issuance	1,602	4,195
Change in fair value	(53,433)	(306,893)
Ending fair value	43,739	439,885
Non-employee Options [Member]
Beginning fair value	205,120	446,354
Vesting		32,798
Transfer value on exercise	(23,040)
Change in fair value	(83,690)	(148,251)
Ending fair value	$ 98,390	$ 330,901

MINERAL PROPERTY INTEREST (Deta

MINERAL PROPERTY INTEREST (Detail) - Development Expenditures	3 Months Ended
	Jul. 31, 2018USD ($)
Extractive Industries [Abstract]
Development Expenditures, Balance at April 30, 2017	$ 1,145,906
Engineering and consulting	55,827
Metallurgy	43,003
Permitting and environmental	8,266
Interest on Promissory Notes	37,796
Other direct costs	28,197
Development Expenditures, Balance at January 31, 2018	$ 1,318,995

ACCOUNTS PAYABLE AND ACCRUED 27

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Detail) - Schedule of Accounts Payable And Accrued Liabilities - USD ($)	Jul. 31, 2018	Apr. 30, 2018
Payables and Accruals [Abstract]
Trade payables	$ 283,206	$ 314,343
Amounts due to related parties	296,492	268,801
Interest payable on promissory notes	393,781	891,977
Total accounts payable and accrued liabilities	$ 973,479	$ 1,475,121

PROMISSORY NOTES (Detail) - Sch

PROMISSORY NOTES (Detail) - Schedule of Promissory Notes - USD ($)	Jul. 31, 2018	Apr. 30, 2018
Third Promissory Note [Member]
Promissory notes	$ 19,555,503	$ 18,053,412
Forth Promissory Note [Member]
Promissory notes	187,390	187,443
Total [Member]
Promissory notes	$ 19,742,893	$ 18,240,855

PROMISSORY NOTES (Detail) - S29

PROMISSORY NOTES (Detail) - Schedule of Payments To Repay Principal Balance - Promissory Notes [Member]	Jul. 31, 2018USD ($)
2,018
2,019	19,723,796
2,020
2,022
2,022
Total	$ 19,723,796

WARRANT LIABILITIES (Detail) -

WARRANT LIABILITIES (Detail) - Schedule of Fair Value of Derivative Liabilities	3 Months Ended
	Jul. 31, 2018USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Balance, April 30, 2017	$ 95,570
Bonus warrants issuable pursuant to promissory notes	1,602
Change in fair value of warrant derivatives	(53,433)
Balance, January 31, 2018	$ 43,739

WARRANT LIABILITIES (Detail) 31

WARRANT LIABILITIES (Detail) - Schedule of Weighted Average Assumptions of Derivative Liabilities - Warrants [Member] - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Apr. 30, 2018
Stock price (CAD$)	$ 0.20	$ 0.26
Exercise price (CAD$)	$ 0.31	$ 0.32
Risk-free interest rate (%)	0.73%	0.73%
Expected life (years)	164 days 6 hours	255 days 12 hours
Expected volatility (%)	45.00%	40.00%
Expected dividends ($)

SHARE CAPITAL (Detail) - Stock

SHARE CAPITAL (Detail) - Stock Options Outstanding - $ / shares	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Apr. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding, Beginning	6,555,000
Outstanding, Weighted Average Exercise Price, Beginning	$ 0.22
Exercised	(600,000)
Exercised, Weighted Average Exercise Price		$ 0.10
Expired	(1,280,000)
Expired, Weighted Average Exercise Price		0.15
Outstanding, Weighted Average Exercise Price	$ 0.26	$ 0.22
Outstanding, End	4,525,000	6,555,000
Exercisable, Weighted Average Exercise Price	$ 0.26
Exercisable, End	4,525,000

SHARE CAPITAL (Detail) - Summar

SHARE CAPITAL (Detail) - Summary Of Stock Options Outstanding	3 Months Ended
	Jul. 31, 2018$ / sharesshares
Set 1 [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)	109 days 12 hours
Set 2 [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)	160 days 14 hours 24 minutes
Set 3 [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)	295 days 15 hours 36 minutes
Set 4 [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)	1 year 6 months
Set 5 [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)	2 years
Set 6 [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)	2 years 357 days 16 hours 48 minutes
Set 7 [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)	3 years 94 days 21 hours 36 minutes
Set 8 [Member]
Type of Security	Stock options
Outstanding Stock Options | shares	1,000,000
Exercise Price | $ / shares	$ 0.25
Expiry Date	Apr. 20, 2022
Remaining Contractual Life (years)	3 years 262 days 19 hours 12 minutes

SHARE CAPITAL (Detail) - Fair V

SHARE CAPITAL (Detail) - Fair Values of Non-Employee Stock Options - USD ($)	3 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Fair value of non-employee options, beginning of the period	$ 205,120	$ 446,354
Fair value of options on vesting		32,798
Transfer value on exercise of options	(23,040)
Change in fair value of non-employee stock options during the period	(83,690)	(148,251)
Fair value of non-employee options, end of the period	$ 98,390	$ 330,901

SHARE CAPITAL (Detail) - Weight

SHARE CAPITAL (Detail) - Weighted Average Grant Date Fair Value Of Stock Options Granted - Employee Stock Option [Member] - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Apr. 30, 2018
Stock price (CAD$)	$ 0.20	$ 0.26
Exercise price (CAD$)	$ 0.26	$ 0.23
Risk-free interest rate (%)	1.26%	1.07%
Expected life (years)	2 years 321 days 4 hours 48 minutes	1 year 313 days 21 hours 36 minutes
Expected volatility (%)	59.00%	49.00%
Expected dividends ($)

SHARE CAPITAL (Detail) - Income

SHARE CAPITAL (Detail) - Income Statement Share-based payments - USD ($)	3 Months Ended
	Jul. 31, 2018	Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share Based Payments, Management and consulting fees		$ 9,829
Total		$ 9,829

SHARE CAPITAL (Detail) - Summ37

SHARE CAPITAL (Detail) - Summary Of Fully-Exercisable Share Purchase Warrants - $ / shares	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Apr. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number Outstanding, Beginning	4,887,360
Weighted Average Exercise Price	$ 0.32
Issued	139,984
Issued, Weighted Average Exercise Price	$ 0.29
Exercised, Weighted Average Exercise Price		$ 0.10
Number Outstanding, End	5,027,344	4,887,360
Weighted Average Exercise Price, End	$ 0.31	$ 0.32

SHARE CAPITAL (Detail) - Summ38

SHARE CAPITAL (Detail) - Summary Of Warrants Outstanding And Issuable	3 Months Ended
	Jul. 31, 2018$ / 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	269,951
Exercise Price | $ / shares	$ 0.29
Expiry Date	Dec. 31, 2018
Warrants 10 [Member]
Outstanding Stock Options | shares	95,781
Exercise Price | $ / shares	$ 0.291
Expiry Date	Dec. 31, 2018
Warrants 11 [Member]
Outstanding Stock Options | shares	100,373
Exercise Price | $ / shares	$ 0.295
Expiry Date	Dec. 31, 2018
Warrants 12 [Member]
Outstanding Stock Options | shares	175,979
Exercise Price | $ / shares	$ 0.298
Expiry Date	Dec. 31, 2018
Warrants 13 [Member]
Outstanding Stock Options | shares	49,294
Exercise Price | $ / shares	$ 0.299
Expiry Date	Dec. 31, 2018
Warrants 14 [Member]
Outstanding Stock Options | shares	83,205
Exercise Price | $ / shares	$ 0.301
Expiry Date	Dec. 31, 2018
Warrants 15 [Member]
Outstanding Stock Options | shares	150,246
Exercise Price | $ / shares	$ 0.31
Expiry Date	Dec. 31, 2018
Warrants 16 [Member]
Outstanding Stock Options | shares	65,514
Exercise Price | $ / shares	$ 0.32
Expiry Date	Dec. 31, 2018
Warrants 17 [Member]
Outstanding Stock Options | shares	58,059
Exercise Price | $ / shares	$ 0.33
Expiry Date	Dec. 31, 2018
Warrants 18 [Member]
Outstanding Stock Options | shares	58,496
Exercise Price | $ / shares	$ 0.335
Expiry Date	Dec. 31, 2018
Warrants 19 [Member]
Outstanding Stock Options | shares	35,997
Exercise Price | $ / shares	$ 0.383
Expiry Date	Dec. 31, 2018
Warrants 20 [Member]
Outstanding Stock Options | shares	30,139
Exercise Price | $ / shares	$ 0.405
Expiry Date	Dec. 31, 2018
Warrants 21 [Member]
Outstanding Stock Options | shares	34,031
Exercise Price | $ / shares	$ 0.42
Expiry Date	Dec. 31, 2018
Warrants 22 [Member]
Outstanding Stock Options | shares	40,761
Exercise Price | $ / shares	$ 0.46
Expiry Date	Dec. 31, 2018
Warrants 23 [Member]
Outstanding Stock Options | shares	25,621
Exercise Price | $ / shares	$ 0.47
Expiry Date	Dec. 31, 2018
Warrants 24 [Member]
Outstanding Stock Options | shares	63,756
Exercise Price | $ / shares	$ 0.475
Expiry Date	Dec. 31, 2018
Warrants 25 [Member]
Outstanding Stock Options | shares	24,344
Exercise Price | $ / shares	$ 0.54
Expiry Date	Dec. 31, 2018
Warrants 26 [Member]
Outstanding Stock Options | shares	1,550,000
Exercise Price | $ / shares	$ 0.4
Expiry Date	Jan. 31, 2019

NATURE OF BUSINESS AND BASIS 39

NATURE OF BUSINESS AND BASIS OF PRESENTATION AND LIQUIDITY (Details Narrative) - USD ($)	Jul. 31, 2018	Apr. 30, 2018
Accounting Policies [Abstract]
Accumulated Deficit	$ 40,099,823	$ 39,300,909

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Apr. 30, 2018
Shares Excluded from Loss Per Share, potentially dilutive	9,914,001	10,992,130
Promissory Notes [Member]
Notes Fair Value	$ 19,431,479		$ 17,797,330

MINERAL PROPERTY INTEREST (De41

MINERAL PROPERTY INTEREST (Details Narrative) - Idaho [Member]	3 Months Ended
	Jul. 31, 2018
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, 2018	Jul. 31, 2017	Apr. 30, 2018
Accretion Expense	$ (62,331)	$ (150,925)
Third Promissory Note [Member]
Promissory Notes Description	On June 1, 2016, October 25, 2017, January 19, 2018 and March 30, 2018, the Company entered into agreements with the Lender pursuant to which up to an additional $4,045,000 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 March 31, 2019.
Promissory Note Advance	$ 405,000	1,815,000	$ 3,640,000
Promissory Note Balance	$ 4,045,000
Promissory Notes Due	Mar. 31, 2019
Interest Rate	12.00%
Interest Recorded	$ 580,865	457,567	1,448,167
Promissory Note Interest Payable Terms	interest at the rate of 12% per annum
Accretion Expense	$ 59,676	148,270
Unamortized Debt Discount	$ 168,292		195,991
Share Purchase Warrants, Shares	139,984
Share Purchase Warrants, Fair Value	$ 1,602
Black-Scholes Option Pricing Model Assumptions:
Stock price (CAD$)	$ 0.239
Exercise price (CAD$)	$ 0.290
Risk-free interest rate (%)	0.73%
Expected life (years)	204 days 9 hours 36 minutes
Expected volatility (%)	43.00%
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	$ 192,057
Promissory Notes Due	Dec. 31, 2018
Interest Rate	12.00%
Interest Recorded	$ 7,562	5,729
Promissory Note Interest Payable Terms	bears interest at a rate of 12% per annum
Accretion Expense	$ 2,655	$ 2,655
Unamortized Debt Discount	$ 4,667		$ 7,322

WARRANT LIABILITIES (Details Na

WARRANT LIABILITIES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Jul. 31, 2018	Apr. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Warrant Derivative Liabilities Fair Value	$ 43,739	$ 95,570

SHARE CAPITAL (Details Narrativ

SHARE CAPITAL (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2018	Apr. 30, 2018	Jul. 31, 2017
Stock Options Available For Grant	4,518,196	2,578,196
Non Vested Stock Options			200,000
Unamortized Compensation Cost of Options
The Intrinsic Value Of Options Expected To Vest
July 31, 2018 [Member]
Shares Issued, Shares	600,000
Shares Issued, price per share	$ 0.10
Shares Issued, Fair Value	$ 46,085

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Jul. 31, 2018	Jul. 31, 2017	Apr. 30, 2018
Management And Consulting Fees	$ 49,084	$ 34,731
Professional fees	74,087	95,615
Accounts payable and accrued liabilities	973,479		$ 1,475,121
RJG Capital Corporation [Member]
Management And Consulting Fees	24,000	24,000
Wayne Moorhouse, Director [Member]
Management And Consulting Fees	768	902
Malaspina Consultants Inc. [Member]
Professional fees	8,169	8,076
Directors Or Officers Or Companies Controlled By Them [Member]
Accounts payable and accrued liabilities	$ 296,492	$ 198,844

SEGMENT DISCLOSURES (Details Na

SEGMENT DISCLOSURES (Details Narrative)	3 Months Ended
	Jul. 31, 2018
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, 2018	Jul. 31, 2017
Shares Issued, Shares	139,984	55,771
Shares Issued, Fair Value	$ 30,375	$ 18,750
Warrants, Shares	139,984	55,771
Warrants, Fair Value	$ 1,602	$ 4,195
Transfer of Interest Payable to Promissory Note	1,069,392
Deferred Mineral Property Expenditures	$ 114,242

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Sep. 11, 2018	Aug. 10, 2018
Granted Stock Options [Member]
Date of Event		Aug. 10, 2018
Description		On August 10, 2018, the Company granted 1,250,000 stock options to the CEO of the company at an exercise price of CAD$0.25 for a period of five years. The stock options vesting subject to securing financing to build the Bovill Kaolin mine and the attainment of commercial production. In addition, the Company granted 200,000 stock options to a consultant at an exercise price of CAD$0.25 for a period of five years. The options vest as to 25% every three months from the date of grant.
Issued Bonus Shares [Member]
Date of Event		Aug. 10, 2018
Description		On August 10, 2018, the Company issued 361,657 bonus shares to the Lender pursuant to the Third Promissory Notes (Note 5).
Loan Agreement [Member]
Date of Event	Sep. 11, 2018
Description	On September 11, 2018, the Company entered into a Loan Agreement with a company controlled by a director of the Company (the “Lender”) pursuant to which up to $2,500,000 will be advanced to the Company in tranches (the “Fifth Promissory Notes”). The Fifth Promissory Notes bear interest at the rate of 14% per annum 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. The Company and the Lender agreed that the Lender is to receive bonus shares equal to 6% of each loan tranche advanced under the Fifth Promissory Notes divided by the Company’s common share market price. The Fifth Promissory Notes are collateralized by the Company’s Helmer-Bovill Property. The Fifth Promissory Notes are due on or before December 31, 2019. The Fifth Promissory Notes agreement is subject to TSX Venture Exchange approval.