Texas Mineral Resources (TMRC) 10-K 29 Nov 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Aug. 31, 2022	Nov. 21, 2022	Feb. 28, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Aug. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--08-31
Entity File Number	000-53482
Entity Registrant Name	TEXAS MINERAL RESOURCES CORP.
Entity Central Index Key	0001445942
Entity Tax Identification Number	87-0294969
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	539 El Paso Street
Entity Address, City or Town	Sierra Blanca
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79851
City Area Code	361
Local Phone Number	790-5831
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 89,281,646
Entity Common Stock, Shares Outstanding		72,896,053
Auditor Name	Ham, Langston & Brezina, L.L.P.
Auditor Location	Houston, Texas
Auditor Firm ID	298

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Aug. 31, 2022	Aug. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 1,838,300	$ 5,106,653
Short-term investments	505,611
Prepaid expenses and other current assets	293,130	73,029
Total current assets	2,637,041	5,179,682
Property and equipment, net	23,853	30,834
Mineral properties, net	415,607	181,755
Deposit	7,500	12,620
TOTAL ASSETS	3,084,001	5,404,891
CURRENT LIABILITIES
Accounts payable and accrued liabilities	41,101	191,394
Accounts payable - related parties		10,000
Total current liabilities	41,101	201,394
SHAREHOLDERS’ EQUITY
Preferred stock, par value $0.001; 10,000,000 shares authorized, no shares issued and outstanding
Common stock, par value $0.01; 100,000,000 shares authorized, 72,869,220 and 71,934,065 shares issued and outstanding as of August 31, 2022 and 2021, respectively	728,692	719,341
Additional paid-in capital	42,066,269	41,332,478
Accumulated deficit	(39,752,061)	(36,848,322)
Total shareholders’ equity	3,042,900	5,203,497
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 3,084,001	$ 5,404,891

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 31, 2022	Aug. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par or stated value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	72,869,220	71,934,065
Common stock, shares outstanding	72,869,220	71,934,065

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
OPERATING EXPENSES
Exploration costs	$ 1,534,915	$ 220,051
General and administrative	1,376,274	1,342,805
Total operating expenses	2,911,189	1,562,856
LOSS FROM OPERATIONS	(2,911,189)	(1,562,856)
OTHER INCOME (EXPENSE)
Gain on sale of assets		3,326,899
Grant income, net of related expenses	93	274,072
Interest and other income	7,357	6,088
Total other income (expense)	7,450	3,607,059
NET INCOME (LOSS)	$ (2,903,739)	$ 2,044,202
Net income (loss) per common share
Basic	$ (0.04)	$ 0.03
Diluted	$ (0.04)	$ 0.03
Weighted average shares outstanding
Basic	72,403,029	71,651,114
Diluted	72,403,029	72,862,214

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (2,903,739)	$ 2,044,202
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization expense	6,981	4,072
Stock based compensation	503,442	787,939
Gain on sale of mineral properties		(3,326,899)
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(220,101)	110,170
Accounts payable and accrued liabilities	(150,293)	(218,533)
Accounts payable – related parties	(10,000)
Net cash used in operating activities	(2,773,710)	(599,049)
CASH FLOWS FROM INVESTING ACTIVITIES
Return of (payments for) deposits	5,120	(5,120)
Purchases of short-term investments	(505,611)
Purchases of property and equipment		(34,906)
Purchases of mineral properties	(233,852)	(229,849)
Proceeds from sale of interest in mineral properties		3,000,000
Net cash (used in) provided by investing activities	(734,343)	2,730,125
CASH FLOWS FROM FINANCING ACTIVITIES
Advances from related party		147,826
Proceeds from exercise of common stock options and warrants	239,700	81,300
Net cash provided by financing activities	239,700	229,126
NET CHANGE IN CASH AND CASH EQUIVALENTS	(3,268,353)	2,360,202
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	5,106,653	2,746,451
CASH AND CASH EQUIVALENTS AT END OF PERIOD	1,838,300	5,106,653
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Cash paid for interest expense	0	0
Cash paid for income taxes	0	0
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Common stock issued as payment of accrued expenses	0	92,500
Advances from related parties applied to consideration in sale of interest in mineral properties	$ 0	$ 729,227

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Aug. 31, 2020		$ 713,233	$ 40,376,847	$ (38,892,524)	$ 2,197,556
Beginning balance (in shares) at Aug. 31, 2020		71,323,278
Stock based compensation		$ 834	787,105		787,939
Stock based compensation (in shares)		83,345
Common stock issued as payment of accrued directors’ fees		$ 619	91,881		92,500
Common stock issued as payment of accrued director's fees (in shares)		61,936
Common stock issued upon exercise of options and warrants		$ 2,960	78,340		81,300
Common stock issued upon exercise of options and warrants (in shares)		296,000
Common stock issued upon cashless exercise of options and warrants		$ 1,695	(1,695)
Cashless exercise of warrants and options (in shares)		169,506
Net income (loss)				2,044,202	2,044,202
Ending balance, value at Aug. 31, 2021		$ 719,341	41,332,478	(36,848,322)	5,203,497
Ending balance (in shares) at Aug. 31, 2021		71,934,065
Stock based compensation		$ 1,318	176,689		178,007
Stock based compensation (in shares)		131,825
Common stock options and warrants issued for services			325,435		325,435
Common stock issued upon exercise of options and warrants		$ 7,260	232,440		239,700
Common stock issued upon exercise of options and warrants (in shares)		726,000
Common stock issued upon cashless exercise of options and warrants		$ 773	(773)
Cashless exercise of warrants and options (in shares)		77,330
Net income (loss)				(2,903,739)	(2,903,739)
Ending balance, value at Aug. 31, 2022		$ 728,692	$ 42,066,269	$ (39,752,061)	$ 3,042,900
Ending balance (in shares) at Aug. 31, 2022		72,869,220

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
	Aug. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Texas Mineral Resources Corp. (the “Company”) was incorporated in the State of Nevada in 1970 as Standard Silver Corporation. In 2010, the Company changed its name from “Standard Silver Corporation” to “Texas Rare Earth Resources Corp”. In 2012, the Company changed its state of incorporation from Nevada to Delaware under a plan of conversion dated August 24, 2012. In 2016, the Company changed its name to Texas Mineral Resources Corp. We are a mining company engaged in the business of the acquisition, exploration and development of mineral properties. We currently own a 20 two 950 19 18 9,345

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF ACCOUNTING POLICIES Exploration-Stage Company Since January 1, 2009, the Company has been classified as an “exploration stage” company for purposes of Item 1300 of the U.S. Securities and Exchange Commission (“SEC”). Under Item 1300, companies engaged in significant mining operations are classified into three categories, referred to as “stages” - exploration, development, and production. Exploration stage includes all companies that do not have established reserves in accordance with Item 1300. Such companies are deemed to be “in the search for mineral deposits.” Notwithstanding the nature and extent of development-type or production-type activities that have been undertaken or completed, a company cannot be classified as a development or production stage company unless it has established reserves in accordance with Item 1300. Basis of Presentation The Company’s financial records are maintained on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). Principles of Consolidation The consolidated financial statements include the accounts of Texas Mineral Resources Corp and its proportionate interest in the assets, liabilities, and operations of Round Top. All significant intercompany balances and transactions have been eliminated. Going Concern These financial statements have been prepared assuming that the Company will continue as a going concern. The Company has an accumulated deficit from inception through August 31, 2022, of approximately $ 39,752,000 At August 31, 2022, the Company had a working capital surplus of approximately $ 2,352,000 In accordance with our current projected budget, the Company does not have sufficient capital to fund its total cash calls and expected general and administrative expenses during the fiscal year ending August 31, 2023. Failure by the Company to make required cash calls to Round Top would result in significant dilution to its 20 Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents currently consist only of demand deposits at commercial banks. The Company maintains cash and cash equivalents at banks selected by management based upon their assessment of the financial stability of the institution. Balances periodically exceed the federal depository insurance limit; however, the Company has not experienced any losses on deposits. Short-term investments Short-term investments consists of certificates of deposit and similar time-based deposits with financial institutions with original maturity dates over three months twelve months Property and Equipment Property and equipment consist primarily of vehicles, furniture and equipment, and are recorded at cost. Expenditures related to acquiring or extending the useful life of property and equipment are capitalized. Expenditures for repair and maintenance are charged to operations as incurred. Depreciation is computed using the straight-line method over an estimated useful life of 3 20 Lease Deposits From time to time, the Company makes deposits in anticipation of executing leases. The deposits are capitalized upon execution of the applicable agreements. Long-lived Assets The Company reviews the recoverability of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through operations. To determine if these costs are in excess of their recoverable amount, periodic evaluation of carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC 360”), Property, Plant and Equipment. Mineral Exploration and Development Costs All exploration expenditures are expensed as incurred. Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. If the Company does not continue with exploration after the completion of the feasibility study, the mineral rights will be expensed at that time. Costs of abandoned projects are charged to mining costs including related property and equipment costs. To determine if these costs are in excess of their recoverable amount, periodic evaluation of carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with ASC 360-10-35-15, Impairment or Disposal of Long-Lived Assets. Share-based Payments The Company estimates the fair value of share-based compensation using the Black-Scholes valuation model, in accordance with the provisions of ASC 718, Stock Compensation Income Taxes Income taxes are computed using the asset and liability method, in accordance with ASC 740, Income Taxes The Company recognizes and measures a tax benefit from uncertain tax positions when it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company recognizes a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company adjusts these liabilities when its judgement changes as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate or future recognition of an unrecognized tax benefit. These differences will be reflected as increases or decreases to income tax expense in the period in which they are determined. The Company recognizes interest and penalties related to unrecognized tax positions within the income tax expense line in the statements of operations. Management believes the Company has no uncertain tax positions at August 31, 2022 and 2021. Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260, Earnings Per Share The following table sets forth the computation of basic and dilutive weighted average shares for the years ended August 31, 2022 and 2021: Schedule of basic and dilutive weighted average shares 2022 2021 Weighted average basic shares 72,403,029 71,651,114 Dilutive securities: Stock options and warrants — 1,211,100 Weighted average dilutive shares 72,403,029 72,862,214 At August 31, 2022, options and warrants to purchase 532,000 Use of Estimates The preparation of financial statements in conformity with U.S. GAAP 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Measurements The Company accounts for assets and liabilities measured at fair value in accordance with ASC 820, Fair Value Measurements and Disclosures. ● Level 1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities traded in active markets. ● Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3: Inputs that are generally unobservable. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company’s financial instruments consist principally of cash and accounts payable and accrued liabilities. The carrying amounts of such financial instruments in the accompanying financial statements approximate their fair values due to their relatively short-term nature. It is management’s opinion that the Company is not exposed to any significant currency or credit risks arising from these financial instruments.

JOINT VENTURE ARRANGEMENTS

JOINT VENTURE ARRANGEMENTS	12 Months Ended
	Aug. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
JOINT VENTURE ARRANGEMENTS	NOTE 3 – JOINT VENTURE ARRANGEMENTS In August 2018, the Company and Morzev Pty. Ltd. (“Morzev”) entered into an agreement (the “2018 Option Agreement”) whereby Morzev was granted the exclusive right to earn and acquire a 70 10 80 3 70 80 On May 17, 2021, and in accordance with the terms of the Option Agreement, the Company and USARE entered into a contribution agreement (“Contribution Agreement”) whereby the Company and USARE contributed assets to Round Top, a wholly-owned subsidiary of the Company, in exchange for their ownership interests in Round Top, of which the Company now owns membership interests equating to 20 80 In connection with USARE meeting its obligations to acquire a 70 10 3,728,000 3 729,000 80 402,000 3,327,000 Upon entry into the Contribution Agreement, the Company assigned the following contracts and assets to Round Top in exchange for its 20 ● the assignment and assumption agreement with respect to the mineral leases from the Company to Round Top; ● the assignment and assumption agreement with respect to the surface lease from the Company to Round Top; ● the assignment and assumption agreement with respect to the surface purchase option from the Company to Round Top; ● the assignment and assumption agreement with respect to the water lease from the Company to Round Top; and ● the bill of sale and assignment agreement of existing data with respect to Round Top owned by the Company. and USARE assigned the following assets to Round Top (or the Company, as applicable) for its 80 ● cash to Round Top to continue to fund Round Top operations in the amount of approximately $ 3,761,750 10 70 ● cash in the amount of $ 3 10 80 ● bill of sale and assignment agreement of the Pilot Plant to Round Top; ● the assignment and assumption regarding relevant contracts and permits with respect to Round Top; and ● bill of sale and assignment agreement of existing data and intellectual property owned by USARE to Round Top. USARE, as manager, will issue monthly cash calls pursuant to adopted Budgets. Both parties, as members, will have 10 days after receipt of such a billing to meet the cash call. Failure to meet a cash call results in dilution. Successive failures in the same budgetary period can result in accelerated dilution or a default loan at a default interest rate. If a member (the “Delinquent Member”) does not contribute all or any portion of any additional capital contribution that such member is required to contribute (the “Default Amount”), then the other member (the “Non-Defaulting Member”) may elect to contribute the Default Amount to Round Top, or not to contribute the Default Amount to Round Top and, in both cases, the interests of the members will be recalculated. If the default by the Delinquent Member is the second or any subsequent default during the period of any adopted Budget, the Non-Defaulting Member may elect to contribute the Default Amount to Round Top on behalf of the Delinquent Member and to reduce the ownership interest of the Delinquent Member by an amount (expressed as a percentage) equal to: (i) 150 multiplied by divided by The Company accounts for its interest in Round Top using the proportionate consolidation method, which is an exception available to entities in the extractive industries, thereby recognizing its pro-rate share of the assets, liabilities, and operations of Round Top in the appropriate classifications in the financial statements.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Aug. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 4 – PROPERTY AND EQUIPMENT, NET Property and equipment consist of office furniture, equipment and vehicles. Property and equipment are depreciated using the straight-line method over their estimated useful life of 3 20 Schedule of property and equipment 2022 2021 Furniture and office equipment $ 75,606 $ 75,606 Vehicles 124,092 124,092 Computers and software 48,711 48,711 Field equipment 71,396 71,396 Total cost basis 319,805 319,805 Less: accumulated depreciation (295,951 ) (288,970 ) Property and equipment, net $ 23,853 $ 30,834 Depreciation expense for the years ending August 31, 2022 and 2021 was $ 6,981 4,072

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Aug. 31, 2022
Extractive Industries [Abstract]
MINERAL PROPERTIES	NOTE 5 – MINERAL PROPERTIES As further discussed in Note 3, Joint Venture Arrangements, in May 2021, the Company assigned all rights and obligations related to the Round Top Project to Round Top in exchange for a 20 August 2010 Lease On August 17, 2010, the Company executed a new mining lease with the Texas General Land Office covering Sections 7 and 18 of Township 7, Block 71 and Section 12 of Block 72, covering approximately 860 Under the terms of the lease, the Company is obligated to pay the State of Texas a total lease bonus of $ 142,518 44,718 97,800 500,000 eight six and one quarter 1 Schedule of August 2010 Lease Per Acre Total September 2, 2020 – 2024 $ 150 $ 134,155 September 2, 2025 – 2029 200 178,873 In August 2022, our joint venture partner paid the State of Texas a delay rental to extend the term of the lease in an amount equal to $ 134,155 November 2011 Lease On November 1, 2011, the Company executed a mining lease with the State of Texas covering approximately 90 20,700 50,000 eight six and one quarter 1 Schedule of November 2011 Lease Per Acre Total November 1, 2020 – 2024 $ 150 $ 13,500 November 1, 2025 – 2029 200 18,000 In August 2022, our joint venture partner paid the State of Texas a delay rental to extend the term of the lease in an amount equal to $ 13,500 March 2013 Lease On March 6, 2013, the Company purchased the surface lease at the Round Top Project, known as the West Lease, from the Southwest Wildlife and Range Foundation (since renamed the Rio Grande Foundation) for $ 500,000 1,063,830 500,000 45,000 ten years 54,990 October 2014 Surface Option and Water Lease On October 29, 2014, the Company announced the execution of agreements with the Texas General Land Office securing the option to purchase the surface rights covering the potential Round Top project mine and plant areas and, separately, a lease to develop the water necessary for the potential Round Top Project mine operations. The option to purchase the surface rights covers approximately 5,670 10,000 The ground water lease secures the right to develop the ground water within a 13,120 4 five 5,000 0.95 20,000 Santa Fe Gold Corporation In November 2021, the Company entered into a mineral exploration and option agreement with Santa Fe Gold Corporation (“Santa Fe”). Under the option agreement, the Company and Santa Fe plan to pursue, negotiate and subsequently enter into a joint venture agreement to jointly explore and develop a target silver property to be selected by the Company among patented and unpatented mining claims held by Santa Fe within the Black Hawk Mining District in Grant County, New Mexico. Completion of a joint venture agreement, if any, is subject to the successful outcome of a multi-phase exploration plan leading to a bankable feasibility study to be undertaken in the near future by the Company. Under the contemplated terms of the proposed joint venture agreement, the Company would be project operator and initially own 50.5 49.5 Under the terms of the option agreement, the Company plans to conduct a district-wide evaluation among the patented and unpatented claims held by Santa Fe, consisting of geologic mapping, sampling, trenching, radiometric surveying, geophysics, drilling and/or other methods as warranted. Based on the district-wide evaluation, the Company will designate one 80 1,300 75 two The term of the option is for so long as the Company continues to conduct exploration activities in the Project Area and can be exercised on 60 Additionally, in November 2021, the Company entered into a financing and purchase option agreement with Greentech Minerals Holdings, Inc. (“Greentech”); however, Greentech determined not to pursue this financing option. The Company is currently pursuing other financing sources.

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	12 Months Ended
	Aug. 31, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	NOTE 6 – ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities at August 31, 2022 and 2021, consist of the following: Schedule of accounts payable and accrued liabilities 2022 2021 Accounts payable – trade $ 41,101 $ 175,328 Accrued payroll and related expenses — 16,049 Other — 17 Total accounts payable and accrued liabilities $ 41,101 $ 191,394

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Aug. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 7 – RELATED PARTY TRANSACTIONS During the year ended August 31, 2021, USARE, the Company’s joint venture partner, provided cash advances of $ 147,826 728,227 80

INCOME TAXES

INCOME TAXES	12 Months Ended
	Aug. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 8 – INCOME TAXES The following table sets forth a reconciliation of the federal income tax benefit to the United States federal statutory rate of 21 Schedule of effective income tax rate reconciliation 2022 2021 Income tax benefit (expense) at 21% statutory rate $ 609,785 $ (429,282 ) Stock-based compensation (105,723 ) (184,893 ) (Increase) decrease in valuation allowance (504,062 ) 614,175 Reconciliation of the federal income tax benefit $ — $ — The tax effects of the temporary differences between reportable financial statement income and taxable income are recognized as a deferred tax asset and liability. Significant components of the deferred tax assets are set out below along with a valuation allowance to reduce the net deferred tax asset to zero. Management has established a valuation allowance because, based on an analysis of the tax benefits underlying deferred tax assets, it is unable to establish that it is more-likely-than-not that a tax benefit will be realized. Significant components of deferred tax asset at August 31, 2022 and 2021 are as follows: Schedule of deferred tax assets and liabilities 2022 2021 Net operating loss carryforward $ 4,522,754 $ 4,341,024 Difference in property and equipment basis 796,890 474,558 Less valuation allowance (5,319,644 ) (4,815,582 ) Net deferred tax asset $ — $ — As a result of a change in control effective in April 2007, net operating losses prior to that date may be partially or entirely unavailable under tax law, to offset future income and; accordingly, these net operating losses are excluded from deferred tax assets. The net operating loss carryforward in the approximate amount of $ 13,692,000

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	12 Months Ended
	Aug. 31, 2022
Equity [Abstract]
SHAREHOLDERS’ EQUITY	NOTE 9 – SHAREHOLDERS’ EQUITY The Company’s authorized capital stock consists of 100,000,000 0.01 10,000,000 0.001 All shares of common stock have equal voting rights and, when validly issued and outstanding, are entitled to one non-cumulative vote per share in all matters to be voted upon by shareholders. Shares of common stock have no pre-emptive, subscription, conversion or redemption rights and may be issued only as fully paid and non-assessable shares. Holders of common stock are entitled to equal ratable rights to dividends and distributions with respect to the common stock, as may be declared by the Company’s Board of Directors (the “Board”) out of funds legally available. In the event of a liquidation, dissolution or winding up of the affairs of the Company, the holders of common stock are entitled to share ratably in all assets remaining available for distribution to them after payment or provision for all liabilities and any preferential liquidation rights of any preferred stock then outstanding. Following is an analysis of common stock issuances during the years ended August 31, 2022 and 2021: August 31, 2022 In October 2021, the Company issued 41,231 During the year ended August 31, 2022, the Company issued 90,594 136,505 41,502 26,833 In January 2020, the Company entered into three separate consulting agreements for total consideration of 699,999 233,333 448,000 0.64 24 699,999 87,501 74,667 224,000 During the year ended August 31, 2022, the holders of 720,000 6,000 239,700 0.30 0.45 0.20 During the year ended August 31, 2022, a total of 100,000 77,330 0.45 August 31, 2021 In October 2020, the Company issued 61,936 92,500 During the year ended August 31, 2021, the Company issued 83,345 142,500 47,500 41,233 During the year ended August 31, 2021, the holders of 76,000 220,000 81,300 0.10 0.35 0.20 0.45 During the year ended August 31, 2021, a total of 200,000 169,506 0.22 0.45 Options The following table sets forth certain information as of August 31, 2022 and 2021 concerning common stock that may be issued upon the exercise of options not covered by the Amended 2008 Plan and pursuant to purchases of stock under the Amended 2008 Plan (All options are fully vested and exercisable at August 31, 2022 and 2021): Schedule of options Shares Weighted Price Weighted (In Years) Aggregate Value Outstanding, vested and exercisable at August 31, 2021 1,763,500 $ 0.35 3.45 $ 2,028,025 Options granted 174,000 0.60 — — Options exercised (420,000 ) 0.28 — — Options cancelled/forfeited/expired (40,000 ) 0.30 — — Outstanding, vested and exercisable at August 31, 2021 1,477,500 0.40 2.68 $ 1,523,430 Options granted 120,000 0.30 — — Options exercised (820,000 ) 0.35 — — Options cancelled/forfeited/expired (257,500 ) 0.45 — — Outstanding, vested and exercisable at August 31, 2022 520,000 $ 0.31 2.79 $ 693,300 Amended 2008 Stock Option Plan In September 2008, the Board adopted the 2008 Stock Option Plan (the “2008 Plan”), which was approved by the Company’s shareholders and provided 2,000,000 7,000,000 9,000,000 5,625,000 During the year ended August 31, 2022, the Company granted a total of 120,000 250,768 0.25 2.33 197 202 0.00 5 250,768 During the year ended August 31, 2021, the Company granted a total of 174,000 353,497 0.27 205.58 0.00 5 353,497 Warrants Warrant activity for the years ended August 31, 2021 and 2020 was as follows: Schedule of warrants Shares Weighted Price Weighted (In Years) Aggregate Value Outstanding and exercisable at August 31, 2020 3,318,038 $ 0.40 0.28 $ 3,649,842 Warrants granted 10,000 0.01 Warrants exercised (76,000 ) 0.33 Warrants cancelled/forfeited/expired (3,218,038 ) 0.10 — — Outstanding and exercisable at August 31, 2021 34,000 $ 0.10 1.2 $ 45,660 Warrants granted — — — — Warrants exercised (6,000 ) 0.20 — — Warrants cancelled/forfeited/expired (16,000 ) 0.10 — — Outstanding and exercisable at August 31, 2022 12,000 $ 0.04 1.0 $ 23,780 During the year ended August 31, 2021, the Company granted a total of 10,000 20,442 0.27 205.58 0.00 3 20,442

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Aug. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS In October 2022, we issued 26,833

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2022
Accounting Policies [Abstract]
Exploration-Stage Company	Exploration-Stage Company Since January 1, 2009, the Company has been classified as an “exploration stage” company for purposes of Item 1300 of the U.S. Securities and Exchange Commission (“SEC”). Under Item 1300, companies engaged in significant mining operations are classified into three categories, referred to as “stages” - exploration, development, and production. Exploration stage includes all companies that do not have established reserves in accordance with Item 1300. Such companies are deemed to be “in the search for mineral deposits.” Notwithstanding the nature and extent of development-type or production-type activities that have been undertaken or completed, a company cannot be classified as a development or production stage company unless it has established reserves in accordance with Item 1300.
Basis of Presentation	Basis of Presentation The Company’s financial records are maintained on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Texas Mineral Resources Corp and its proportionate interest in the assets, liabilities, and operations of Round Top. All significant intercompany balances and transactions have been eliminated.
Going Concern	Going Concern These financial statements have been prepared assuming that the Company will continue as a going concern. The Company has an accumulated deficit from inception through August 31, 2022, of approximately $ 39,752,000 At August 31, 2022, the Company had a working capital surplus of approximately $ 2,352,000 In accordance with our current projected budget, the Company does not have sufficient capital to fund its total cash calls and expected general and administrative expenses during the fiscal year ending August 31, 2023. Failure by the Company to make required cash calls to Round Top would result in significant dilution to its 20
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents currently consist only of demand deposits at commercial banks. The Company maintains cash and cash equivalents at banks selected by management based upon their assessment of the financial stability of the institution. Balances periodically exceed the federal depository insurance limit; however, the Company has not experienced any losses on deposits.
Short-term investments	Short-term investments Short-term investments consists of certificates of deposit and similar time-based deposits with financial institutions with original maturity dates over three months twelve months
Property and Equipment	Property and Equipment Property and equipment consist primarily of vehicles, furniture and equipment, and are recorded at cost. Expenditures related to acquiring or extending the useful life of property and equipment are capitalized. Expenditures for repair and maintenance are charged to operations as incurred. Depreciation is computed using the straight-line method over an estimated useful life of 3 20
Lease Deposits	Lease Deposits From time to time, the Company makes deposits in anticipation of executing leases. The deposits are capitalized upon execution of the applicable agreements.
Long-lived Assets	Long-lived Assets The Company reviews the recoverability of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through operations. To determine if these costs are in excess of their recoverable amount, periodic evaluation of carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC 360”), Property, Plant and Equipment.
Mineral Exploration and Development Costs	Mineral Exploration and Development Costs All exploration expenditures are expensed as incurred. Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. If the Company does not continue with exploration after the completion of the feasibility study, the mineral rights will be expensed at that time. Costs of abandoned projects are charged to mining costs including related property and equipment costs. To determine if these costs are in excess of their recoverable amount, periodic evaluation of carrying value of capitalized costs and any related property and equipment costs are based upon expected future cash flows and/or estimated salvage value in accordance with ASC 360-10-35-15, Impairment or Disposal of Long-Lived Assets.
Share-based Payments	Share-based Payments The Company estimates the fair value of share-based compensation using the Black-Scholes valuation model, in accordance with the provisions of ASC 718, Stock Compensation
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method, in accordance with ASC 740, Income Taxes The Company recognizes and measures a tax benefit from uncertain tax positions when it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company recognizes a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company adjusts these liabilities when its judgement changes as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate or future recognition of an unrecognized tax benefit. These differences will be reflected as increases or decreases to income tax expense in the period in which they are determined. The Company recognizes interest and penalties related to unrecognized tax positions within the income tax expense line in the statements of operations. Management believes the Company has no uncertain tax positions at August 31, 2022 and 2021.
Basic and Diluted Income (Loss) Per Share	Basic and Diluted Income (Loss) Per Share The Company computes income (loss) per share in accordance with ASC 260, Earnings Per Share The following table sets forth the computation of basic and dilutive weighted average shares for the years ended August 31, 2022 and 2021: Schedule of basic and dilutive weighted average shares 2022 2021 Weighted average basic shares 72,403,029 71,651,114 Dilutive securities: Stock options and warrants — 1,211,100 Weighted average dilutive shares 72,403,029 72,862,214 At August 31, 2022, options and warrants to purchase 532,000
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP 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 revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurements	Fair Value Measurements The Company accounts for assets and liabilities measured at fair value in accordance with ASC 820, Fair Value Measurements and Disclosures. ● Level 1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities traded in active markets. ● Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. ● Level 3: Inputs that are generally unobservable. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company’s financial instruments consist principally of cash and accounts payable and accrued liabilities. The carrying amounts of such financial instruments in the accompanying financial statements approximate their fair values due to their relatively short-term nature. It is management’s opinion that the Company is not exposed to any significant currency or credit risks arising from these financial instruments.

SUMMARY OF ACCOUNTING POLICIE_2

SUMMARY OF ACCOUNTING POLICIES (Tables)	12 Months Ended
	Aug. 31, 2022
Accounting Policies [Abstract]
Schedule of basic and dilutive weighted average shares	The following table sets forth the computation of basic and dilutive weighted average shares for the years ended August 31, 2022 and 2021: Schedule of basic and dilutive weighted average shares 2022 2021 Weighted average basic shares 72,403,029 71,651,114 Dilutive securities: Stock options and warrants — 1,211,100 Weighted average dilutive shares 72,403,029 72,862,214

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Aug. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment consist of office furniture, equipment and vehicles. Property and equipment are depreciated using the straight-line method over their estimated useful life of 3 20 Schedule of property and equipment 2022 2021 Furniture and office equipment $ 75,606 $ 75,606 Vehicles 124,092 124,092 Computers and software 48,711 48,711 Field equipment 71,396 71,396 Total cost basis 319,805 319,805 Less: accumulated depreciation (295,951 ) (288,970 ) Property and equipment, net $ 23,853 $ 30,834

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	Aug. 31, 2022
Extractive Industries [Abstract]
Schedule of August 2010 Lease	Schedule of August 2010 Lease Per Acre Total September 2, 2020 – 2024 $ 150 $ 134,155 September 2, 2025 – 2029 200 178,873
Schedule of November 2011 Lease	Schedule of November 2011 Lease Per Acre Total November 1, 2020 – 2024 $ 150 $ 13,500 November 1, 2025 – 2029 200 18,000

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	12 Months Ended
	Aug. 31, 2022
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	Accounts payable and accrued liabilities at August 31, 2022 and 2021, consist of the following: Schedule of accounts payable and accrued liabilities 2022 2021 Accounts payable – trade $ 41,101 $ 175,328 Accrued payroll and related expenses — 16,049 Other — 17 Total accounts payable and accrued liabilities $ 41,101 $ 191,394

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Aug. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of effective income tax rate reconciliation	The following table sets forth a reconciliation of the federal income tax benefit to the United States federal statutory rate of 21 Schedule of effective income tax rate reconciliation 2022 2021 Income tax benefit (expense) at 21% statutory rate $ 609,785 $ (429,282 ) Stock-based compensation (105,723 ) (184,893 ) (Increase) decrease in valuation allowance (504,062 ) 614,175 Reconciliation of the federal income tax benefit $ — $ —
Schedule of deferred tax assets and liabilities	Management has established a valuation allowance because, based on an analysis of the tax benefits underlying deferred tax assets, it is unable to establish that it is more-likely-than-not that a tax benefit will be realized. Significant components of deferred tax asset at August 31, 2022 and 2021 are as follows: Schedule of deferred tax assets and liabilities 2022 2021 Net operating loss carryforward $ 4,522,754 $ 4,341,024 Difference in property and equipment basis 796,890 474,558 Less valuation allowance (5,319,644 ) (4,815,582 ) Net deferred tax asset $ — $ —

SHAREHOLDERS_ EQUITY (Tables)

SHAREHOLDERS’ EQUITY (Tables)	12 Months Ended
	Aug. 31, 2022
Equity [Abstract]
Schedule of options	The following table sets forth certain information as of August 31, 2022 and 2021 concerning common stock that may be issued upon the exercise of options not covered by the Amended 2008 Plan and pursuant to purchases of stock under the Amended 2008 Plan (All options are fully vested and exercisable at August 31, 2022 and 2021): Schedule of options Shares Weighted Price Weighted (In Years) Aggregate Value Outstanding, vested and exercisable at August 31, 2021 1,763,500 $ 0.35 3.45 $ 2,028,025 Options granted 174,000 0.60 — — Options exercised (420,000 ) 0.28 — — Options cancelled/forfeited/expired (40,000 ) 0.30 — — Outstanding, vested and exercisable at August 31, 2021 1,477,500 0.40 2.68 $ 1,523,430 Options granted 120,000 0.30 — — Options exercised (820,000 ) 0.35 — — Options cancelled/forfeited/expired (257,500 ) 0.45 — — Outstanding, vested and exercisable at August 31, 2022 520,000 $ 0.31 2.79 $ 693,300
Schedule of warrants	Warrant activity for the years ended August 31, 2021 and 2020 was as follows: Schedule of warrants Shares Weighted Price Weighted (In Years) Aggregate Value Outstanding and exercisable at August 31, 2020 3,318,038 $ 0.40 0.28 $ 3,649,842 Warrants granted 10,000 0.01 Warrants exercised (76,000 ) 0.33 Warrants cancelled/forfeited/expired (3,218,038 ) 0.10 — — Outstanding and exercisable at August 31, 2021 34,000 $ 0.10 1.2 $ 45,660 Warrants granted — — — — Warrants exercised (6,000 ) 0.20 — — Warrants cancelled/forfeited/expired (16,000 ) 0.10 — — Outstanding and exercisable at August 31, 2022 12,000 $ 0.04 1.0 $ 23,780

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - Round Top Mountain Development Company LLC [Member]	Aug. 31, 2022 a Number	May 17, 2021
Ownership interest	20%	20%
Number of leases held | Number	2
Area of project	950
Surface rights - acres	9,345
Maximum [Member]
Period of leases	19 years
Minimum [Member]
Period of leases	18 years

Schedule of basic and dilutive

Schedule of basic and dilutive weighted average shares (Details) - shares	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
Accounting Policies [Abstract]
Weighted average basic shares	72,403,029	71,651,114
Dilutive securities:
Stock options and warrants		1,211,100
Weighted average dilutive shares	72,403,029	72,862,214

SUMMARY OF ACCOUNTING POLICIE_3

SUMMARY OF ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	May 17, 2021
Property, Plant and Equipment [Line Items]
Accumulated deficit	$ (39,752,061)	$ (36,848,322)
Working capital surplus	$ 2,352,000
Stock Option and Warrants [Member]
Property, Plant and Equipment [Line Items]
Antidilutive shares	532,000
Minimum [Member]
Property, Plant and Equipment [Line Items]
Time based deposits	3 months
Useful life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Time based deposits	12 months
Useful life	20 years
Round Top Mountain Development Company LLC [Member]
Property, Plant and Equipment [Line Items]
Ownership interest	20%		20%

JOINT VENTURE ARRANGEMENTS (Det

JOINT VENTURE ARRANGEMENTS (Details Narrative) - Round Top Mountain Development Company LLC [Member] - USD ($)		1 Months Ended
	May 17, 2021	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2022
Ownership interest	20%			20%
Consideration received from joint venture	$ 3,728,000
Consideration received from exercise of option	3,000,000
Proceeds from previous advances	$ 729,000
Derecognized percentage of mineral properties	80%
Derecognized amount of mineral properties	$ 402,000
Gain on sale of interest in projects	3,327,000
Cash asssigned for exercise of joint venture option	$ 3,000,000
USARE [Member]
Initial ownership interest under agreement		70%	70%
Contribution for initial ownership interest under agreement			$ 10,000,000
Increasable ownership interest under agreement		80%	80%
Additional contribution for increasable ownership interest under agreement			$ 3,000,000
Controlling ownership interest	80%			80%
Initial ownership interest acquired	70%
Additional ownership interest acquired	10%
Cash asssigned to joint venture	$ 3,761,750
Value of specified interest in joint venture	$ 10,000,000
Specified interest percentage of joint venture	70%
Default multiplier percentage	150%

Schedule of property and equipm

Schedule of property and equipment (Details) - USD ($)	Aug. 31, 2022	Aug. 31, 2021
Property, Plant and Equipment [Line Items]
Total cost basis	$ 319,805	$ 319,805
Less: accumulated depreciation	(295,951)	(288,970)
Property and equipment, net	23,853	30,834
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	75,606	75,606
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	124,092	124,092
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	48,711	48,711
Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	$ 71,396	$ 71,396

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 6,981	$ 4,072
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years

Schedule of August 2010 Lease (

Schedule of August 2010 Lease (Details)	Feb. 28, 2022 USD ($) $ / a
September 2, 2020 - 2024 [Member]
Property, Plant and Equipment [Line Items]
Per acre amount | $ / a	150
Total amount | $	$ 134,155
September 2, 2025 - 2029 [Member]
Property, Plant and Equipment [Line Items]
Per acre amount | $ / a	200
Total amount | $	$ 178,873

Schedule of November 2011 Lease

Schedule of November 2011 Lease (Details)	Feb. 28, 2022 USD ($) $ / a
November 1, 2020 - 2024 [Member]
Property, Plant and Equipment [Line Items]
Per acre amount | $ / a	150
Total amount | $	$ 13,500
November 1, 2025 - 2029 [Member]
Property, Plant and Equipment [Line Items]
Per acre amount | $ / a	200
Total amount | $	$ 18,000

MINERAL PROPERTIES (Details Nar

MINERAL PROPERTIES (Details Narrative)						1 Months Ended
	Nov. 08, 2021 a mi	Oct. 29, 2014 USD ($) a well mi $ / gal	Mar. 06, 2013 USD ($) a shares	Nov. 01, 2011 USD ($) a	Aug. 17, 2010 USD ($) a	Aug. 31, 2022 USD ($) a	May 17, 2021
Texas General Land office [Member] | August 2010 Lease [Member]
Mining lease - acres | a					860
Lease bonus					$ 142,518
Payment of lease bonus					44,718
Lease bonus due					97,800
Minimum advance royalty due					$ 500,000
Production royalty of market value of uranium and fissionable materials					8%
Production royalty of market value of other minerals					6.25%
Lease extension period					1 year
Payment of delay rental						$ 134,155
Texas General Land office [Member] | November 2011 Lease [Member]
Mining lease - acres | a				90
Lease bonus				$ 20,700
Minimum advance royalty due				$ 50,000
Production royalty of market value of uranium and fissionable materials				8%
Production royalty of market value of other minerals				6.25%
Lease extension period				1 year
Payment of delay rental						$ 13,500
Rio Grande Foundation [Member] | March 2013 Lease [Member]
Cash			$ 500,000
Shares issued for lease | shares			1,063,830
Value of shares issued for lease			$ 500,000
Periodic payment for conservation efforts			$ 45,000
Payment period for conservation efforts			10 years
Surface rights - acres | a			54,990
Rio Grande Foundation [Member] | October 2014 Surface Option and Water Lease [Member]
Surface rights - acres | a		5,670
Periodic option annual payment due		$ 10,000
Ground water lease - acres | a		13,120
Distance from project mine | mi		4
Number of existing water wells | well		5
Annual minimum production payment		$ 5,000
Production payment, amount per gallon | $ / gal		0.95
Production payment, annual amount		$ 20,000
Round Top Mountain Development Company LLC [Member]
Ownership interest						20%	20%
Mining lease - acres | a						950
Surface rights - acres | a						9,345
Santa Fe Joint Venture [Member]
Controlling ownership interest	50.50%
Area of project | a	80
Area of property covered under agreement | a	1,300
Percentage of known mining district covered	75%
Area of interest radius | mi	2
Exercise period of option	60 days
Santa Fe Joint Venture [Member] | Santa Fe Gold Corporation [Member]
Ownership interest	49.50%

Schedule of accounts payable an

Schedule of accounts payable and accrued liabilities (Details) - USD ($)	Aug. 31, 2022	Aug. 31, 2021
Payables and Accruals [Abstract]
Accounts payable – trade	$ 41,101	$ 175,328
Accrued payroll and related expenses		16,049
Other		17
Total accounts payable and accrued liabilities	$ 41,101	$ 191,394

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)		12 Months Ended
	May 17, 2021	Aug. 31, 2022	Aug. 31, 2021
Related Party Transactions [Abstract]
Cash advances			$ 147,826
Consideration for the sale	$ 728,227
Percentage of sale interest	80%

Schedule of effective income ta

Schedule of effective income tax rate reconciliation (Details) - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Federal statutory rate	21%
Income tax benefit (expense) at 21% statutory rate	$ 609,785	$ (429,282)
Stock-based compensation	(105,723)	(184,893)
(Increase) decrease in valuation allowance	(504,062)	614,175
Reconciliation of the federal income tax benefit

Schedule of deferred tax assets

Schedule of deferred tax assets and liabilities (Details) - USD ($)	Aug. 31, 2022	Aug. 31, 2021
Income Tax Disclosure [Abstract]
Net operating loss carryforward	$ 4,522,754	$ 4,341,024
Difference in property and equipment basis	796,890	474,558
Less valuation allowance	(5,319,644)	(4,815,582)
Net deferred tax asset

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	Aug. 31, 2022 USD ($)
Income Tax Disclosure [Abstract]
Operating loss carryforwards	$ 13,692,000

SHAREHOLDERS_ EQUITY (Details N

SHAREHOLDERS’ EQUITY (Details Narrative) - USD ($)	1 Months Ended					12 Months Ended		72 Months Ended
	Oct. 31, 2022	May 31, 2022	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2020	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2016	Sep. 30, 2008
Class of Stock [Line Items]
Common stock, shares authorized						100,000,000	100,000,000
Common stock, par or stated value per share						$ 0.01	$ 0.01
Preferred stock, shares authorized						10,000,000	10,000,000
Preferred stock, par or stated value per share						$ 0.001	$ 0.001
Stock issued during period, value, issued for services						$ 325,435
Additional paid in capital						$ 42,066,269	$ 41,332,478
Consulting agreements, number of shares					699,999
Consulting agreements, number of shares per agreement					233,333
Consulting agreements, value of shares					$ 448,000
Share price					$ 0.64
Minimum [Member]
Class of Stock [Line Items]
Option exercise price							$ 0.20
Maximum [Member]
Class of Stock [Line Items]
Option exercise price							$ 0.45
Warrant [Member]
Class of Stock [Line Items]
Compensation expense							$ 20,442
Shares issued						6,000	76,000
Option exercise price						$ 0.20	$ 0.33
Options granted							10,000
Value of shares granted							$ 20,442
Fair value assumptions - risk free interest rate							0.27%
Fair value assumptions - volatilty							205.58%
Fair value assumptions - dividend yield							0%
Fair value assumptions - expected term							3 years
Warrant [Member] | Minimum [Member]
Class of Stock [Line Items]
Option exercise price							$ 0.10
Warrant [Member] | Maximum [Member]
Class of Stock [Line Items]
Option exercise price							$ 0.35
Common Stock [Member]
Class of Stock [Line Items]
Stock issued during period, value, issued for services
Option exercise price						$ 0.45
Shares issued upon cashless exercise						77,330	169,506
Options granted						131,825	83,345
Share-Based Payment Arrangement, Option [Member]
Class of Stock [Line Items]
Compensation expense						$ 250,768	$ 353,497
Shares issued						720,000	220,000
Total cash consideration						$ 239,700	$ 81,300
Option exercise price						$ 0.35	$ 0.28
Cashless exercise of options						100,000	200,000
Options granted						120,000	174,000
Value of shares granted						$ 250,768	$ 353,497
Fair value assumptions - risk free interest rate							0.27%
Fair value assumptions - volatilty							205.58%
Fair value assumptions - dividend yield						0%	0%
Fair value assumptions - expected term						5 years	5 years
Share-Based Payment Arrangement, Option [Member] | Minimum [Member]
Class of Stock [Line Items]
Option exercise price						$ 0.30	$ 0.22
Fair value assumptions - risk free interest rate						0.25%
Fair value assumptions - volatilty						197%
Share-Based Payment Arrangement, Option [Member] | Maximum [Member]
Class of Stock [Line Items]
Option exercise price						$ 0.45	$ 0.45
Fair value assumptions - risk free interest rate						2.33%
Fair value assumptions - volatilty						202%
Stock Option 2008 Plan [Member]
Class of Stock [Line Items]
Number of options available for grant						9,000,000	9,000,000		2,000,000
Additional shares authorized								7,000,000
Shares available for grant						5,625,000
Director [Member] | Share-Based Payment Arrangement [Member]
Class of Stock [Line Items]
Number of shares issued			41,231	61,936		90,594	83,345
Stock issued during period, value, issued for services						$ 136,505	$ 142,500
Additional paid in capital						41,502	47,500
Number of shares issued			41,233
Payment for accrued fees				$ 92,500
Director [Member] | Share-Based Payment Arrangement [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Number of shares issued	26,833
Number of shares issued	26,833
Consultant [Member] | Share-Based Payment Arrangement [Member]
Class of Stock [Line Items]
Share vesting period					24 months
Number of shares vested		699,999
Number of shares issued		87,501
Compensation expense						$ 74,667	$ 224,000

Schedule of options (Details)

Schedule of options (Details) - Share-Based Payment Arrangement, Option [Member] - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Outstanding, vested and exercisable at beginning	1,477,500	1,763,500
Outstanding, weighted average exercise price at beginning	$ 0.40	$ 0.35
Outstanding, weighted average remaining contractual life	2 years 9 months 14 days	2 years 8 months 4 days	3 years 5 months 12 days
Outstanding, aggregate intrinsic value at beginning	$ 1,523,430	$ 2,028,025
Options granted	120,000	174,000
Options granted, weighted average exercise price	$ 0.30	$ 0.60
Options exercised	(820,000)	(420,000)
Options exercised, weighted average exercise price	$ 0.35	$ 0.28
Options cancelled/forfeited/expired	(257,500)	(40,000)
Options cancelled/forfeited/expired, weighted average exercise price	$ 0.45	$ 0.30
Outstanding, vested and exercisable at ending	520,000	1,477,500	1,763,500
Outstanding, weighted average exercise price at ending	$ 0.31	$ 0.40	$ 0.35
Outstanding, aggregate intrinsic value at ending	$ 693,300	$ 1,523,430	$ 2,028,025

Schedule of warrants (Details)

Schedule of warrants (Details) - Warrant [Member] - USD ($)	12 Months Ended
	Aug. 31, 2022	Aug. 31, 2021	Aug. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Outstanding and exercisable at beginning	34,000	3,318,038
Outstanding, weighted average exercise price at beginning	$ 0.10	$ 0.40
Outstanding, weighted average remaining contractual life	1 year	1 year 2 months 12 days	3 months 10 days
Outstanding, aggregate intrinsic value at beginning	$ 45,660	$ 3,649,842
Warrants granted		10,000
Warrants granted, weighted average exercise price		$ 0.01
Warrants exercised	(6,000)	(76,000)
Warrants exercised, weighted average exercise price	$ 0.20	$ 0.33
Warrants cancelled/forfeited/expired	(16,000)	(3,218,038)
Warrants cancelled/forfeited/expired, weighted average exercise price	$ 0.10	$ 0.10
Outstanding and exercisable at ending	12,000	34,000	3,318,038
Outstanding, weighted average exercise price at ending	$ 0.04	$ 0.10	$ 0.40
Outstanding, aggregate intrinsic value at ending	$ 23,780	$ 45,660	$ 3,649,842

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Director [Member] - Share-Based Payment Arrangement [Member] - shares	1 Months Ended			12 Months Ended
	Oct. 31, 2022	Oct. 31, 2021	Oct. 31, 2020	Aug. 31, 2022	Aug. 31, 2021
Subsequent Event [Line Items]
Number of shares issued		41,231	61,936	90,594	83,345
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares issued	26,833