Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
May 31, 2023 | Sep. 22, 2023 | Nov. 30, 2022 | |
Cover [Abstract] | |||
Entity Registrant Name | Wolverine Resources Corp. | ||
Entity Central Index Key | 0001424404 | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | May 31, 2023 | ||
Current Fiscal Year End Date | --05-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Address, Address Line One | #55-11020-Williams Road | ||
Entity Common Stock, Shares Outstanding | 100,974,373 | ||
Entity Current Reporting Status | No | ||
Document Fiscal Year Focus | 2023 | ||
Document Fiscal Period Focus | FY | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Interactive Data Current | No | ||
Entity Voluntary Filers | No | ||
Entity Public Float | $ 1,438,853 | ||
Entity Well-known Seasoned Issuer | No | ||
Document Transition Report | false | ||
Entity File Number | 000-53767 | ||
Entity Tax Identification Number | 98-0569013 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Address, City or Town | Richmond | ||
Entity Address, State or Province | BC | ||
Entity Address, Postal Zip Code | V7A 1X8 | ||
Local Phone Number | 297.4409 | ||
City Area Code | 778 | ||
Document Annual Report | true | ||
Entity Address, Country | CA | ||
Auditor Name | Sadler, Gibb & Associates, LLC | ||
Auditor Firm ID | 3627 | ||
Auditor Location | Draper, UT | ||
Document Financial Statement Error Correction [Flag] | false |
Balance Sheets
Balance Sheets - USD ($) | May 31, 2023 | May 31, 2022 |
Current Assets | ||
Cash | $ 208 | $ 6,294 |
Other receivable | 1,925 | 2,659 |
Prepaid expenses | 368 | 396 |
Total Assets | 2,501 | 9,349 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 71,031 | 59,028 |
Accounts payable - related parties | 23,613 | 22,489 |
Total Liabilities | 94,644 | 81,517 |
Commitments and contingencies | 0 | 0 |
Stockholders' Deficit | ||
Common stock, 250,000,000 shares authorized, $0.001 par value 91,024,373 and 77,464,373 shares issued and outstanding at May 31, 2023 and 2022, respectively | 91,024 | 77,464 |
Subscriptions payable | 60,346 | 49,361 |
Additional paid-in capital | 10,328,021 | 9,962,639 |
Accumulated deficit | (10,571,534) | (10,161,632) |
Total Stockholders' Deficit | (92,143) | (72,168) |
Total Liabilities and Stockholders' Deficit | $ 2,501 | $ 9,349 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | May 31, 2023 | May 31, 2022 |
Statement of Financial Position [Abstract] | ||
Common Stock, Shares Authorized | 250,000,000 | 250,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares, Issued | 91,024,373 | 77,464,373 |
Common Stock, Shares, Outstanding | 91,024,373 | 77,464,373 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
May 31, 2023 | May 31, 2022 | |
Operating Expenses | ||
General and administrative | $ 303,381 | $ 498,419 |
Impairment of mineral properties | 0 | 2,861,952 |
Mineral property exploration costs | 30,109 | 40,436 |
Total Operating Expenses | 333,490 | 3,400,807 |
Loss From Operations | (333,490) | (3,400,807) |
Other Income (Expense) | ||
Foreign exchange gain (loss) | 4,476 | 14,298 |
Gain on derecognition of accounts payable | 0 | 100,733 |
Loss on settlement of debt | (80,888) | (395,493) |
Total Other Income (Expense) | (76,412) | (280,462) |
Net Loss | $ (409,902) | $ (3,681,269) |
Net Loss Per Common Share, Basic | $ 0 | $ (0.08) |
Net Loss Per Common Share, Diluted | $ 0 | $ (0.08) |
Weighted Average Common Shares Outstanding, Basic | 85,181,578 | 45,355,636 |
Weighted Average Common Shares Outstanding, Diluted | 85,181,578 | 45,355,636 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - USD ($) | Common Stock [Member] | Subscriptions Received [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Total |
Balance at May. 31, 2021 | $ 31,781 | $ 44,703 | $ 6,086,847 | $ (6,480,363) | $ (317,032) |
Balance (shares) at May. 31, 2021 | 31,781,373 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common stock issued for cash and subscriptions payable | $ 7,500 | (44,703) | 289,335 | 252,132 | |
Common stock issued for cash and subscriptions payable (shares) | 7,500,000 | ||||
Common stock issued to settle debt | $ 9,683 | 764,957 | 774,640 | ||
Common stock issued to settle debt (shares) | 9,683,000 | ||||
Common stock issued to purchase mineral property | $ 28,500 | 2,821,500 | 2,850,000 | ||
Common stock issued to purchase mineral property (Shares) | 28,500,000 | ||||
Common stock subscribed | 49,361 | 49,361 | |||
Net loss for the year | (3,681,269) | (3,681,269) | |||
Balance at May. 31, 2022 | $ 77,464 | 49,361 | 9,962,639 | (10,161,632) | (72,168) |
Balance (shares) at May. 31, 2022 | 77,464,373 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Common stock issued for subscription payable | $ 1,250 | (49,361) | 48,111 | 0 | |
Common stock issued for subscription payable (shares) | 1,250,000 | ||||
Common stock issued for cash | $ 7,620 | 134,191 | $ 141,811 | ||
Common stock issued for cash (shares) | 7,620,000 | 100,000 | |||
Common stock issued for debt | $ 5,690 | 182,080 | $ 187,770 | ||
Common stock issued for debt (shares) | 5,690,000 | ||||
Common stock cancelled | $ (1,000) | 1,000 | 0 | ||
Common stock cancelled (shares) | (1,000,000) | ||||
Common stock subscribed | 60,346 | 60,346 | |||
Net loss for the year | (409,902) | (409,902) | |||
Balance at May. 31, 2023 | $ 91,024 | $ 60,346 | $ 10,328,021 | $ (10,571,534) | $ (92,143) |
Balance (shares) at May. 31, 2023 | 91,024,373 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
May 31, 2023 | May 31, 2022 | |
Operating Activities | ||
Net loss | $ (409,902) | $ (3,681,269) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Loss (Gain) on settlement of accounts payable | 0 | (100,733) |
Impairment of mineral properties | 0 | 2,861,952 |
Loss on settlement of liabilities | 80,888 | 395,493 |
Changes in operating assets and liabilities: | ||
Other receivable | 734 | 6,654 |
Prepaid expenses | 28 | (396) |
Accounts payable and accrued liabilities | 61,317 | 88,551 |
Accounts payable - related parties | 50,092 | 132,772 |
Net Cash Used in Operating Activities | (216,843) | (296,976) |
Investing Activities | ||
Acquisition of mineral properties | 0 | (7,334) |
Net Cash Used in Investing Activities | 0 | (7,334) |
Financing Activities | ||
Advances from related parties | 8,600 | 0 |
Proceeds from common stock issued and subscribed | 202,157 | 301,493 |
Net Cash Provided by Financing Activities | 210,757 | 301,493 |
Change in Cash | (6,086) | (2,817) |
Cash, Beginning of Year | 6,294 | 9,111 |
Cash, End of Year | 208 | 6,294 |
Supplemental Disclosures: | ||
Interest paid | 0 | 0 |
Income taxes paid | 0 | 0 |
Non-cash Investing and Financing Activities: | ||
Common stock issued to settle accounts payable | 187,770 | 774,640 |
Common stock issued to purchase mineral property | 0 | 2,850,000 |
Common stock cancelled pursuant to amended property purchase agreement | 1,000 | 0 |
Common stock issued for prior year subscriptions | $ 49,361 | $ 44,703 |
Organization and Basis of Prese
Organization and Basis of Presentation | 12 Months Ended |
May 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and basis of presentation [Text Block] | 1. Organization and Basis of Presentation Wolverine Resources Corp. (formerly Wolverine Technologies Corp.) (the "Company") was incorporated in the State of Nevada on February 23, 2006. The Company's principal business was the acquisition and exploration of mineral resources. The Company had not determined that its properties contain mineral reserves that were economically recoverable, financing had not yet become available, and commodity prices had not fully recovered. Therefore, management decided to change the focus of the Company to include cyber security. Effective July 27, 2022, the Company changed its name from Wolverine Technologies Corp. to Wolverine Resources Corp. The Company has now refocused its efforts back to the exploration of mineral resources. The outbreak of the novel coronavirus COVID-19, which was declared a pandemic by the World Health Organization on March 11, 2020, has led to adverse impacts on the U.S. and global economies, disruptions of financial markets, and created uncertainty regarding potential impacts to the Company's operations. The COVID- 19 pandemic has impacted and could further impact the Company's operations and the operations of the Company's suppliers and vendors as a result of quarantines, facility closures, and travel and logistics restrictions. The extent to which the COVID-19 pandemic impacts the Company's business, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to the duration, spread, severity, and impact of the COVID-19 pandemic, the effects of the COVID-19 pandemic on the Company's suppliers and vendors and the remedial actions and stimulus measures adopted by local and federal governments, and to what extent normal economic and operating conditions can resume. The management team is closely following the progression of COVID-19 and its potential impact on the Company. Even after the COVID-19 pandemic has subsided, the Company may experience adverse impacts to its business as a result of any economic recession or depression that has occurred or may occur in the future. Therefore, the Company cannot reasonably estimate the impact at this time on its business, liquidity, capital resources and financial results. Going Concern These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has never generated revenues and is unlikely to generate earnings in the immediate or foreseeable future. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. The Company plans to raise financing through debt or equity. There can be no assurance that additional financing will be available when needed or, if available, that it can be obtained on commercially reasonable terms. At May 31, 2023, the Company has a working capital deficiency of $92,143 and has accumulated losses of $10,571,534 since inception. These factors raise substantial doubt regarding the Company's ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
May 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies (a) Basis of Presentation These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. The Company's fiscal year-end is May 31. (b) Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. (d) Mineral Property Costs The Company has been in the exploration stage since its inception on February 23, 2006 and has not yet realized any revenues from its planned operations. It is primarily engaged in the acquisition and exploration of mining properties. Mineral property exploration costs are expensed as incurred. Mineral property acquisition costs are initially capitalized when incurred. Our company assesses the carrying costs for impairment under ASC 360, " Property, Plant, and Equipment (e) Income Taxes The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Uncertain tax positions are recognized in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions in the income tax provision. There are currently no unrecognized tax benefits that if recognized would affect the tax rate. There was $0 of interest and penalties recognized for the years ended May 31, 2023 and 2022. (f) Foreign Currency Translation The Company's functional and reporting currency is the United States dollar. Occasional transactions may occur in Canadian dollars and management has adopted ASC 830, " Foreign Currency Translation Matters (g) Earnings (Loss) Per Share The Company computes earnings (loss) per share in accordance with ASC 260, " Earnings per Share (h) Flow-through shares The Company may issue flow-through common shares to finance a significant portion of its exploration program. Pursuant to the terms of the flow-through share agreements, these shares transfer the tax deductibility of qualifying resource expenditures to investors. Under ASC 740, " Income Taxes Proceeds received from the issuance of flow-through common shares are restricted to be used only for Canadian resource property exploration expenditures within a two-year period. The Company may also be subject to Part XII.6 tax under the Canadian Income Tax Act on flow-through proceeds renounced under a Look-back Rule, in accordance with Government of Canada flow-through regulations. When applicable, this tax is accrued as a financial expense until paid. (i) Financial Instruments and Fair Value Measures ASC 820, " Fair Value Measurements and Disclosures Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model- derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally of cash, other receivables, accounts payable and amounts due to related parties. Pursuant to ASC 820, the fair value of cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. (j) T he company records stock-based compensation in accordance with ASC 718, “ Compensation-Stock Compensation Equity Based Payments to Non-Employees grant date fair value of the consideration received, or the fair value of the equity instrument issued, whichever is more reliably measurable. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
May 31, 2023 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Recent Accounting Pronouncements [Text Block] | 3. Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
May 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | 4. Related Party Transactions (a) (b) (c) As at May 31, 2023, the Company also owes $5,352 (2022 - $2,706) to the CEO for expense reimbursement, which is non-interest bearing, unsecured and due on demand. (d) On February 28, 2022, the Company acquired a 40% interest in the Frog Property located in Labrador, Canada from Rich Resources Inc. (formerly |
Mineral Properties
Mineral Properties | 12 Months Ended |
May 31, 2023 | |
Mineral Properties, Net [Abstract] | |
Mineral Properties [Text Block] | 5. Mineral Properties (a) In November 2020 and April 2021, the Company staked mineral claims located in Labrador, Canada for $2,668 (Cdn$3,448). During the year ended May 31, 2021, the Company extended the mineral claim licenses for $7,334 (Cdn$9,400). During the year ended May 31, 2022, the Company wrote off the mineral property acquisition costs of $7,334 due to the uncertainty of establishing proven and probable reserves. During the year ended May 31, 2023, the Company incurred mineral property exploration costs of $30,109 (2022 - $40,436). (b) On August 9, 2022, the Company amended the Property Purchase Agreement with Rich. Under the terms of the Amended Property Purchase Agreement, the number of shares issued pursuant to the acquisition was reduced from 28,500,000 shares of common stock to 27,500,000 shares of common stock and the number of claims was reduced from 315 claims to 262 claims. As of the filing date of these financial statements, 1,000,000 shares of common stock have been returned and cancelled pursuant to the Amended Property Purchase Agreement. Refer to note 6(b) and 6(c). During the year ended May 31, 2022, the Company wrote off mineral property acquisition costs of $2,850,000 due to uncertainty of establishing proven and probable reserves. |
Common Stock
Common Stock | 12 Months Ended |
May 31, 2023 | |
Equity [Abstract] | |
Common Stock [Text Block] | 6. Common Stock Authorized 250,000,000 shares of common stock, $0.001 par value Issued and outstanding 91,024,373 shares of common stock as at May 31, 2023 (2022- 77,464,373). On July 27, 2022, the Company completed a 20:1 reverse stock split and the common stock amounts have been retrospectively restated to show the effect of the reverse split. Stock transactions during the year ended May 31, 2023: (a) On August 17, 2022, the Company returned and cancelled 500,000 shares of common stock for no consideration, pursuant to an amendment in a Property Purchase Agreement. The par value of the 500,000 shares of common stock was reclassified to additional paid-in capital. Refer to note 5(b). (b) On November 30, 2022, the Company returned and cancelled 500,000 shares of common stock for no consideration, pursuant to an amendment in a Property Purchase Agreement. The par value of the 500,000 shares of common stock was reclassified to additional paid-in capital. Refer to note 5(b). (c) On January 27, 2023, the Company issued 1,250,000 shares of common stock at a price of Cdn$0.05 per share pursuant to a private placement for cash proceeds of $49,361 (Cdn$62,500), which was received during the year ended May 31, 2022. (d) On January 27, 2023, the Company issued 7,200,000 shares of common stock at a price of Cdn$0.025 per share pursuant to a private placement for cash proceeds of $133,410 (Cdn$180,000). (e) On January 27, 2023, the Company issued 420,000 shares of common stock at a price of $0.02 per share pursuant to a private placement for cash proceeds of $8,400. (f) On January 27, 2023, the Company issued 5,690,000 shares of common stock with a fair value of $187,770 to settle accounts payable of $107,377 (Cdn$142,984), resulting in a loss on settlement of $80,888. This settlement relates to both accounts payable and related parties payable (see notes 4(a) and 4(c)). (g) During the year ended May 31, 2023, the Company received proceeds of $2,000 for 100,000 shares of common stock at $0.02 per share and proceeds of $58,346 (Cdn$78,750) for 3,150,000 shares of common stock at Cdn$0.025 per share to be issued subsequent to year end. Stock transactions during the year ended May 31, 2022: (a) (b) (c) (d) (e) $2,850,000 to acquire the Frog Property. Refer to Note 5(b). (f) (g) , (h) At May 31, 2023 and 2022, the Company had no dilutive shares, or common stock equivalents. |
Income Taxes
Income Taxes | 12 Months Ended |
May 31, 2023 | |
Income Tax Disclosure Abstract | |
Income Taxes [Text Block] | 7. Income Taxes The Company has net operating losses carried forward of $5,707,300 available to offset taxable income in future years which expires beginning in fiscal 2027. Under section 382 of the Internal Revenue Code such a change in control negates much of the tax loss carry forward and deferred income tax. The Company is subject to examination by the IRS for tax years 2014 to 2021. The Company is also subject to income tax in Canada. The Company was subject to United States federal and state income taxes at an approximate rate of 21% for the years ended May 31, 2023 and 2022. The reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Company's income tax expense as reported is as follows: 2023 2022 Income tax recovery at statutory rate (86,079 ) (773,066 ) Temporary differences 6,323 609,502 Valuation allowance change 79,756 163,564 Provision for income taxes - - The significant components of deferred income tax assets and liabilities at May 31, 2023 and 2022, are as follows: 2023 2022 Mineral property costs 916,355 910,033 Net operating losses carried forward 1,198,533 1,118,776 Gross deferred income tax assets 2,114,888 2,028,809 Valuation allowance (2,114,888 ) (2,028,809 ) Net deferred income tax asset - - |
Subsequent events
Subsequent events | 12 Months Ended |
May 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 8. Subsequent Events (a) On July 19, 2023, the Company entered into a Second Amendment of the Purchase Agreement with Rich Resources Inc. ("Rich") formerly 86835 Newfoundland & Labrador Corp. relating to the acquisition of a 40% interest in the Frog Property located in Labrador, Canada. Under the terms of the Second Amendment of the Purchase Agreement, 24,000,000 common shares of the Company were issued to Rich and 12,000,000 common shares held by two related parties were cancelled. Refer to notes 4(e) and 5(b). (b) O n September 6, 2023, the Company issued 100,000 shares of common stock at a price of $0.02 per share to settle subscription payable of $2,000 and 3,150,000 shares of common stock at a price of Cdn$0.025 per share to settle subscription payable of $58,346 (Cdn$78,750) as of May 31, 2023. (c) On September 6, 2023, the Company issued 500,000 shares of common stock at a price of $0.02 per share for cash proceeds of $10,000 and 6,060,000 shares of common stock at a price of Cdn$0.025 per share for cash proceeds of $111,768 (Cdn$151,500) pursuant to a private placement. (d) (e) n September 21, 2023, the Company received proceeds of $7,423 (Cdn$10,000) for 400,000 shares of common stock at Cdn$0.025 per share. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
May 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation [Policy Text Block] | (a) Basis of Presentation These financial statements and related notes are presented in accordance with accounting principles generally accepted in the United States, and are expressed in U.S. dollars. The Company's fiscal year-end is May 31. |
Use of Estimates [Policy Text Block] | (b) Use of Estimates The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to stock-based compensation, and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
Cash and Cash Equivalents [Policy Text Block] | (c) Cash and Cash Equivalents The Company considers all highly liquid instruments with maturity of three months or less at the time of issuance to be cash equivalents. |
Mineral Property Costs [Policy Text Block] | (d) Mineral Property Costs The Company has been in the exploration stage since its inception on February 23, 2006 and has not yet realized any revenues from its planned operations. It is primarily engaged in the acquisition and exploration of mining properties. Mineral property exploration costs are expensed as incurred. Mineral property acquisition costs are initially capitalized when incurred. Our company assesses the carrying costs for impairment under ASC 360, " Property, Plant, and Equipment |
Income Taxes [Policy Text Block] | (e) Income Taxes The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Uncertain tax positions are recognized in the financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions in the income tax provision. There are currently no unrecognized tax benefits that if recognized would affect the tax rate. There was $0 of interest and penalties recognized for the years ended May 31, 2023 and 2022. |
Foreign Currency Translation [Policy Text Block] | (f) Foreign Currency Translation The Company's functional and reporting currency is the United States dollar. Occasional transactions may occur in Canadian dollars and management has adopted ASC 830, " Foreign Currency Translation Matters |
Earnings (Loss) Per Share [Policy Text Block] | (g) Earnings (Loss) Per Share The Company computes earnings (loss) per share in accordance with ASC 260, " Earnings per Share |
Flow-through Shares [Policy Text Block] | (h) Flow-through shares The Company may issue flow-through common shares to finance a significant portion of its exploration program. Pursuant to the terms of the flow-through share agreements, these shares transfer the tax deductibility of qualifying resource expenditures to investors. Under ASC 740, " Income Taxes Proceeds received from the issuance of flow-through common shares are restricted to be used only for Canadian resource property exploration expenditures within a two-year period. The Company may also be subject to Part XII.6 tax under the Canadian Income Tax Act on flow-through proceeds renounced under a Look-back Rule, in accordance with Government of Canada flow-through regulations. When applicable, this tax is accrued as a financial expense until paid. |
Financial Instruments and Fair Value Measures [Policy Text Block] | (i) Financial Instruments and Fair Value Measures ASC 820, " Fair Value Measurements and Disclosures Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model- derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally of cash, other receivables, accounts payable and amounts due to related parties. Pursuant to ASC 820, the fair value of cash is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. |
Comprehensive Income [Policy Text Block] | (j) T he company records stock-based compensation in accordance with ASC 718, “ Compensation-Stock Compensation Equity Based Payments to Non-Employees grant date fair value of the consideration received, or the fair value of the equity instrument issued, whichever is more reliably measurable. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
May 31, 2023 | |
Income Tax Disclosure Abstract | |
Schedule of effective income tax rate reconciliation [Table Text Block] | 2023 2022 Income tax recovery at statutory rate (86,079 ) (773,066 ) Temporary differences 6,323 609,502 Valuation allowance change 79,756 163,564 Provision for income taxes - - |
Schedule of deferred tax assets and liabilities [Table Text Block] | 2023 2022 Mineral property costs 916,355 910,033 Net operating losses carried forward 1,198,533 1,118,776 Gross deferred income tax assets 2,114,888 2,028,809 Valuation allowance (2,114,888 ) (2,028,809 ) Net deferred income tax asset - - |
Organization and Basis of Pre_2
Organization and Basis of Presentation (Narrative) (Details) - USD ($) | May 31, 2023 | May 31, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Working capital deficiency | $ 92,143 | |
Accumulated deficit | $ 10,571,534 | $ 10,161,632 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) | 12 Months Ended | |
May 31, 2023 | May 31, 2022 | |
Accounting Policies [Abstract] | ||
Recognized penalties and interest expense | $ 0 | $ 0 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) | 12 Months Ended | ||||||
Jan. 23, 2023 CAD ($) shares | May 31, 2023 CAD ($) shares | May 31, 2023 USD ($) shares | May 31, 2022 CAD ($) | May 31, 2022 USD ($) | Jan. 23, 2023 USD ($) | Feb. 28, 2022 | |
Related Party Transaction [Line Items] | |||||||
Due from Related Parties, Current | $ 1,925 | $ 2,659 | |||||
Common stock issued for cash (Shares) | shares | 100,000 | 100,000 | |||||
Rich Resources Inc [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Equity method investment, ownership percentage | 40% | ||||||
Company controlled by Chief Financial Officer ("CFO") of the Company [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Consulting fees | $ 14,975 | 15,832 | |||||
Amounts payable to the company | $ 25,000 | $ 18,680 | |||||
Amounts loss on settlement | 14,320 | ||||||
Due to related parties, current | 1,457 | 9,521 | |||||
Common stock issued for cash (Shares) | shares | 1,000,000 | ||||||
Director [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Consulting fees | 26,376 | 31,301 | |||||
Chief Executive Officer [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Amount owed for expense reimbursement | 5,352 | 2,706 | |||||
Company controlled by the Chief Executive Officer ("CEO") and director of the Company [Member] | |||||||
Related Party Transaction [Line Items] | |||||||
Consulting fees | $ 120,000 | 89,759 | $ 140,000 | 110,440 | |||
Amounts loss on settlement | 28,762 | ||||||
Account Payable | $ 38,888 | ||||||
Due to related parties, current | $ 10,851 | $ 10,263 | |||||
Common stock issued for cash (Shares) | shares | 2,050,000 |
Mineral Properties (Narrative)
Mineral Properties (Narrative) (Details) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Aug. 09, 2022 Claim shares | Feb. 28, 2022 USD ($) Claim shares | Feb. 28, 2022 USD ($) Claim shares | May 31, 2023 USD ($) | May 31, 2022 USD ($) | May 31, 2021 CAD ($) | May 31, 2021 USD ($) | Apr. 30, 2021 CAD ($) | Apr. 30, 2021 USD ($) | Nov. 30, 2020 CAD ($) | Nov. 30, 2020 USD ($) | |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Mineral claims | $ 9,400 | $ 7,334 | $ 3,448 | $ 2,668 | $ 3,448 | $ 2,668 | |||||
Write Off Mineral Property Acquisition Costs due to uncertainty of establishing proven and probable reserves | $ 7,334 | ||||||||||
Write off of mineral property acquisition costs | 2,850,000 | ||||||||||
Common stock issued to purchase mineral property (Shares) | shares | 28,500,000 | ||||||||||
Common stock issued to purchase mineral property | $ 2,850,000 | 2,850,000 | |||||||||
Mineral property exploration costs | $ 30,109 | $ 40,436 | |||||||||
Property Purchase Agreement [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Common stock issued to purchase mineral property (Shares) | shares | 28,500,000 | 28,500,000 | |||||||||
Common stock issued to purchase mineral property | $ 2,850,000 | ||||||||||
Number of claims | Claim | 262 | 315 | 315 | ||||||||
Number of common shares cancelled pursuant to amended | shares | 1,000,000 | ||||||||||
Property Purchase Agreement [Member] | Rich Resources Inc [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Equity method investment, ownership percentage | 40% | 40% | |||||||||
Amended Property Purchase Agreement [Member] | |||||||||||
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] | |||||||||||
Common stock issued to purchase mineral property (Shares) | shares | 27,500,000 |
Common Stock (Narrative) (Detai
Common Stock (Narrative) (Details) | 1 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 10, 2022 CAD ($) shares | Mar. 10, 2022 USD ($) shares | Jan. 27, 2023 CAD ($) $ / shares shares | Jan. 27, 2023 USD ($) shares | Nov. 30, 2022 shares | Aug. 17, 2022 shares | Jul. 27, 2022 | Jul. 26, 2021 CAD ($) $ / shares shares | Jul. 26, 2021 USD ($) shares | Nov. 30, 2021 CAD ($) $ / shares shares | Nov. 30, 2021 USD ($) shares | Feb. 28, 2022 USD ($) shares | May 31, 2023 CAD ($) $ / shares shares | May 31, 2023 USD ($) shares | May 31, 2022 USD ($) $ / shares shares | May 31, 2021 CAD ($) | May 31, 2021 USD ($) | May 31, 2023 $ / shares shares | Jan. 27, 2023 $ / shares | Nov. 30, 2021 $ / shares | Jul. 26, 2021 $ / shares | |
Equity [Line Items] | |||||||||||||||||||||
Common stock, shares authorized | 250,000,000 | 250,000,000 | 250,000,000 | ||||||||||||||||||
Common stock, par value per share | $ / shares | $ 0.001 | $ 0.001 | |||||||||||||||||||
Common stock, shares, issued | 91,024,373 | 77,464,373 | 91,024,373 | ||||||||||||||||||
Common stock, shares, outstanding | 91,024,373 | 77,464,373 | 91,024,373 | ||||||||||||||||||
Description of reverse stock split | On July 27, 2022, the Company completed a 20:1 reverse stock split and the common stock amounts have been retrospectively restated to show the effect of the reverse split. | ||||||||||||||||||||
Common stock cancelled (shares) | 500,000 | 500,000 | |||||||||||||||||||
Reclassification of par value of number of common stock shares | 500,000 | 500,000 | |||||||||||||||||||
Common stock issued for cash (shares) | 100,000 | 100,000 | |||||||||||||||||||
Gain (loss) on extinguishment of debt | $ | $ (80,888) | $ (395,493) | |||||||||||||||||||
Common stock price per share | $ / shares | $ 0.02 | ||||||||||||||||||||
Proceeds from issuance of common stock | $ | 2,000 | ||||||||||||||||||||
Net proceeds from issuance of common stock | $ 78,750 | $ 58,346 | |||||||||||||||||||
Total number of stock issued during period shares | 3,150,000 | 3,150,000 | |||||||||||||||||||
Shares issued price | $ / shares | $ 0.025 | ||||||||||||||||||||
Common stock issued for subscription payable | $ | $ 0 | ||||||||||||||||||||
Common stock issued to purchase mineral property (Shares) | 28,500,000 | ||||||||||||||||||||
Common stock issued to purchase mineral property | $ | $ 2,850,000 | $ 2,850,000 | |||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||
Equity [Line Items] | |||||||||||||||||||||
Common stock issued for cash (shares) | 3,500,000 | 3,500,000 | 1,250,000 | 1,250,000 | 1,850,000 | 1,850,000 | 1,500,000 | 1,500,000 | |||||||||||||
Common stock price per share | $ / shares | $ 0.05 | $ 0.05 | $ 0.05 | ||||||||||||||||||
Proceeds from issuance of common stock | $ 175,000 | $ 138,055 | $ 62,500 | $ 49,361 | $ 92,500 | $ 75,295 | $ 75,000 | $ 59,110 | $ 50,000 | $ 40,953 | |||||||||||
Private Placement - 2 [Member] | |||||||||||||||||||||
Equity [Line Items] | |||||||||||||||||||||
Common stock issued for cash (shares) | 7,200,000 | 7,200,000 | 150,000 | 150,000 | 500,000 | 500,000 | |||||||||||||||
Common stock price per share | (per share) | $ 0.025 | $ 0.00375 | $ 0.0375 | ||||||||||||||||||
Proceeds from issuance of common stock | $ 180,000 | $ 133,410 | $ 5,625 | $ 18,750 | $ 3,750 | ||||||||||||||||
Private Placement - 3 [Member] | |||||||||||||||||||||
Equity [Line Items] | |||||||||||||||||||||
Common stock issued for cash (shares) | 420,000 | 420,000 | |||||||||||||||||||
Common stock price per share | $ / shares | $ 0.02 | ||||||||||||||||||||
Proceeds from issuance of common stock | $ | $ 8,400 | ||||||||||||||||||||
Shares issued to settle accounts payable [Member] | |||||||||||||||||||||
Equity [Line Items] | |||||||||||||||||||||
Stock issued during period, shares, to settle accounts payable | 9,683,000 | 9,683,000 | 5,690,000 | 5,690,000 | |||||||||||||||||
Value of common stock to settle accounts payable | $ | $ 774,640 | $ 187,770 | |||||||||||||||||||
Extinguishment of debt, amount | $ 459,150 | 379,147 | $ 142,984 | 107,377 | |||||||||||||||||
Gain (loss) on extinguishment of debt | $ | $ 395,493 | $ 80,888 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | 12 Months Ended | |
May 31, 2023 | May 31, 2022 | |
Income Tax Disclosure Abstract | ||
Net operating loss carryforward | $ 5,707,300 | |
United States federal and state income tax rate | 21% | 21% |
Income Taxes - Schedule of effe
Income Taxes - Schedule of effective income tax rate reconciliation (Details) - USD ($) | 12 Months Ended | |
May 31, 2023 | May 31, 2022 | |
Income Tax Disclosure Abstract | ||
Income tax recovery at statutory rate | $ (86,079) | $ (773,066) |
Temporary differences | 6,323 | 609,502 |
Valuation allowance change | 79,756 | 163,564 |
Provision for income taxes | $ 0 | $ 0 |
Income Taxes - Schedule of defe
Income Taxes - Schedule of deferred income tax asset (Details) - USD ($) | May 31, 2023 | May 31, 2022 |
Income Tax Disclosure Abstract | ||
Mineral property costs | $ 916,355 | $ 910,033 |
Net operating losses carried forward | 1,198,533 | 1,118,776 |
Gross deferred income tax assets | 2,114,888 | 2,028,809 |
Valuation allowance | (2,114,888) | (2,028,809) |
Net deferred income tax asset | $ 0 | $ 0 |
Subsequent events (Narrative) (
Subsequent events (Narrative) (Details) | 1 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
Sep. 21, 2023 CAD ($) $ / shares shares | Sep. 21, 2023 USD ($) shares | Sep. 06, 2023 CAD ($) $ / shares shares | Sep. 06, 2023 USD ($) shares | Mar. 10, 2022 shares | Jul. 19, 2023 shares | Jan. 27, 2023 $ / shares shares | Jul. 26, 2021 $ / shares shares | Nov. 30, 2021 $ / shares shares | Feb. 28, 2022 shares | May 31, 2023 USD ($) $ / shares shares | May 31, 2022 USD ($) | Sep. 06, 2023 $ / shares | Nov. 30, 2021 $ / shares | Jul. 26, 2021 $ / shares | |
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued to purchase mineral property (Shares) | 28,500,000 | ||||||||||||||
Common stock issued for cash (shares) | 100,000 | ||||||||||||||
Common stock price per share | $ / shares | $ 0.02 | ||||||||||||||
Common stock issued for cash | $ | $ 141,811 | ||||||||||||||
Loss on settlement of debt | $ | $ (80,888) | $ (395,493) | |||||||||||||
Private Placement [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 3,500,000 | 1,250,000 | 1,850,000 | 1,500,000 | |||||||||||
Common stock price per share | $ / shares | $ 0.05 | $ 0.05 | $ 0.05 | ||||||||||||
Private Placement Two [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 7,200,000 | 150,000 | 500,000 | ||||||||||||
Common stock price per share | (per share) | $ 0.025 | $ 0.00375 | $ 0.0375 | ||||||||||||
Subsequent Event [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 400,000 | 400,000 | |||||||||||||
Common stock price per share | $ / shares | $ 0.025 | ||||||||||||||
Common stock issued for cash | $ 10,000 | $ 7,423 | |||||||||||||
Number of shares issued to settle accounts payable | 140,000 | 140,000 | |||||||||||||
Fair value of common stock to settle accounts payable | $ | $ 3,180 | ||||||||||||||
Value of common stock to settle accounts payable | $ 3,500 | 2,637 | |||||||||||||
Loss on settlement of debt | $ | $ 543 | ||||||||||||||
Subsequent Event [Member] | Private Placement [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 500,000 | 500,000 | |||||||||||||
Common stock price per share | $ / shares | $ 0.02 | ||||||||||||||
Cash proceeds | $ | $ 10,000 | ||||||||||||||
Subsequent Event [Member] | Private Placement Two [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 6,060,000 | 6,060,000 | |||||||||||||
Common stock price per share | $ / shares | $ 0.025 | ||||||||||||||
Cash proceeds | $ 151,500 | $ 111,768 | |||||||||||||
Subsequent Event [Member] | Share to settle subscription payable [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 100,000 | 100,000 | |||||||||||||
Common stock price per share | $ / shares | $ 0.02 | ||||||||||||||
Cash proceeds | $ | $ 2,000 | ||||||||||||||
Subsequent Event [Member] | Share to settle subscription payable two [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued for cash (shares) | 3,150,000 | 3,150,000 | |||||||||||||
Common stock price per share | $ / shares | $ 0.025 | ||||||||||||||
Cash proceeds | $ 78,750 | $ 58,346 | |||||||||||||
Subsequent Event [Member] | Second Amendment Of Purchase Agreement [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Number of common shares cancelled pursuant to amended | 12,000,000 | ||||||||||||||
Subsequent Event [Member] | Second Amendment Of Purchase Agreement [Member] | Rich Resources Inc [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Common stock issued to purchase mineral property (Shares) | 24,000,000 | ||||||||||||||
Subsequent Event [Member] | Second Amendment Of Purchase Agreement [Member] | Rich Resources Inc [Member] | Frog Property [Member] | |||||||||||||||
Subsequent Event [Line Items] | |||||||||||||||
Percentage of voting interests acquired | 40% |