Texas Mineral Resources (TMRC) 10-K 14 Dec 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Aug. 31, 2017	Dec. 11, 2017	Dec. 01, 2017
Document And Entity Information
Entity Registrant Name	Texas Mineral Resources Corp.
Entity Central Index Key	1,445,942
Document Type	10-K
Document Period End Date	Aug. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017
Entity Common Stock, Shares Outstanding		44,941,532
Entity Public Float			$ 6,492,839

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Aug. 31, 2017	Aug. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 1,080	$ 5,164
Prepaid expenses and other current assets	6,667	6,667
Total current assets	7,747	11,831
Property and equipment, net	5,421	15,536
Mineral properties	358,594	1,753,446
Deposits	24,000	29,710
TOTAL ASSETS	395,762	1,810,523
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,003,468	602,533
Notes payable - related party, net of discount	246,165	76,500
Current portion of note payable	260,387	260,387
Total current liabilities	1,510,020	939,420
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Preferred stock, par value $0.001; 10,000,000 shares authorized, no shares issued and outstanding as of August 31, 2017 and August 31, 2016, respectively
Common stock, par value $0.01; 100,000,000 shares authorized, 44,941,532 and 44,941,532 shares issued and outstanding as of August 31, 2017 and August 31, 2016, respectively	449,416	449,416
Additional paid-in capital	33,068,309	32,918,544
Accumulated deficit	(34,631,983)	(32,496,857)
Total shareholders' equity	(1,114,258)	871,103
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 395,762	$ 1,810,523

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 31, 2017	Aug. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 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 value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	44,941,532	44,941,532
Common stock, shares outstanding	44,941,532	44,941,532

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
OPERATING EXPENSES
Exploration costs	$ 90,484	$ 216,223
Impairment of mineral properties	1,394,852
General and administrative expenses	495,906	987,869
Total operating expenses	1,981,242	1,204,092
LOSS FROM OPERATIONS	(1,981,242)	(1,204,092)
OTHER INCOME (EXPENSE)
Gain on sale of asset		5,698
Interest and other income	2	448
Interest and other expense	(153,886)	(15,993)
Total other income (expense)	(153,884)	(9,847)
NET LOSS	$ (2,135,126)	$ (1,213,939)
Net loss per share:
Basic and diluted net loss per share	$ (0.05)	$ (0.03)
Weighted average shares outstanding:
Basic and diluted	44,941,532	43,857,977

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (2,135,126)	$ (1,213,939)
Adjustments to reconcile net loss to net cash used in operating activities:
Cashless compensation for advances	105,751
Discount on loans from beneficial conversion feature	25,107
Impairment of mineral properties	1,394,852
Depreciation expense	10,115	27,737
Gain on sale of asset		(5,698)
Stock based compensation	18,907	188,756
Changes in current assets and liabilities:
Deposits	5,710	20,753
Accounts payable and accrued expenses	400,935	135,075
Accounts payable related party		239,224
Net cash used in operating activities	(173,749)	(608,091)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of equipment		9,776
Investment in mineral properties		(15,000)
Net cash used in investing activities		(5,224)
CASH FLOWS FROM FINANCING ACTIVITIES
Payment on lease note payable		(30,459)
Cash from sale of common stock		569,500
Proceeds from loan payable	169,665	76,500
Net cash provided by financing activities	169,665	615,541
NET CHANGE IN CASH AND CASH EQUIVALENTS	(4,084)	2,226
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	5,164	2,938
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 1,080	$ 5,164

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at beginning at Aug. 31, 2015	$ 413,681	$ 32,106,023	$ (31,282,918)	$ 1,236,786
Balance at beginning, shares at Aug. 31, 2015	41,368,015
Options issued to Officers and Directors		106,785		106,785
Options issued for services		19,471		19,471
Common stock issued for services	$ 2,760	59,740		62,500
Common stock issued for services, shares	276,017
Common stock issued for cash	$ 28,475	541,025		569,500
Common stock issued for cash, shares	2,847,500
Common stock issued for note conversion	$ 4,500	85,500		90,000
Common stock issued for note conversion, shares	450,000
Net loss			(1,213,939)	(1,213,939)
Balance at ending at Aug. 31, 2016	$ 449,416	32,918,544	(32,496,857)	871,103
Balance at ending, shares at Aug. 31, 2016	44,941,532
Options issued for services		18,907		18,907
Cashless compensation for advances		105,751		105,751
Discount on notes payable from beneficial conversion		25,107		25,107
Net loss			(2,135,126)	(2,135,126)
Balance at ending at Aug. 31, 2017	$ 449,416	$ 33,068,309	$ (34,631,983)	$ (1,114,258)
Balance at ending, shares at Aug. 31, 2017	44,941,532

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
	Aug. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Texas Rare Earth Resources Corp (the “Company”) was incorporated in the State of Nevada in 1970. In July 2004, our articles of incorporation were amended and restated to increase the authorized capital to 25,000,000 common shares and, in April 2007, we effected a 1 for 2 reverse stock split. In September 2008, our articles of incorporation were further amended and restated to increase the authorized capital to 100,000,000 common shares with a par value of $0.01 per share and to authorize 10,000,000 preferred shares with a par value of $0.001 per share. Our fiscal year-end is August 31. Effective September 1, 2010, we changed our name from “Standard Silver Corporation” to “Texas Rare Earth Resources Corp.” We are now a mining company engaged in the business of the acquisition and development of mineral properties. As of the date of this filing, we hold two nineteen year leases, executed in September and November of 2011, to explore and develop a 950 acre rare earths project located in Hudspeth County, Texas known as the Round Top Project and prospecting permits covering an adjacent 9,345 acres. We also own unpatented mining claims in New Mexico. We are currently not evaluating any additional prospects, and intend to focus primarily on the development of our Round Top rare earth prospect. On August 24, 2012, we changed our state of incorporation from the State of Nevada to the State of Delaware (the “Reincorporation”) pursuant to a plan of conversion dated August 24, 2012. The Reincorporation was previously submitted to a vote of, and approved by, our stockholders at a special meeting of the stockholders held on April 25, 2012. On March 14, 2016, the Company filed a Certificate of Amendment with the Secretary of State of the State of Delaware to amend its Certificate of Incorporation to change the name of the Company from “Texas Rare Earth Resources Corp” to “Texas Mineral Resources Corp”. The amendment was effective on March 21, 2016. The Certificate of Amendment did not make any other amendments to the Company’s Certificate of Incorporation. The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of approximately $34.6 million as of August 31, 2017 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and or private placement of common stock.

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES	12 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF ACCOUNTING POLICIES	NOTE 2 – SUMMARY OF ACCOUNTING POLICIES Basis of Presentation Our financial records are maintained on the accrual basis of accounting whereby revenues are recognized when earned and expenses are recorded when incurred, in accordance with generally accepted accounting principles (“GAAP”) – United States. Reclassification of prior year balances Our financial statements during the year ended August 31, 2016 contain amounts that have been reclassified for presentation purposes. The amounts and content of account balances were not altered during the reclassification. Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consist of demand deposits at commercial banks. We currently do not have cash deposits at financial institutions in excess of federally insured limits. Property and Equipment Our property and equipment consists primarily of vehicles, furniture and equipment, and are recorded at cost. Expenditures related to acquiring or extending the useful life of our 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 years. 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. Revenue Recognition We recognize revenue when persuasive evidence of an arrangement exists, services have been performed, the sales price is fixed or determinable, and collectability is probable. We have yet to generate any revenue. 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 and ASC 505, Share-Based Payments Amended 2008 Stock Option Plan In September 2008, the Board adopted our 2008 Stock Option Plan (the “2008 Plan”), which was also approved by our shareholders in September 2008. In May 2011, the board of directors adopted an amendment to our 2008 Plan (the “Amended 2008 Plan”), which was also approved by our shareholders in August 2011. The Amended 2008 Plan increased the number of shares available for grant from 2,000,000 to up to 5,000,000 shares of our common stock for awards to our officers, directors, employees and consultants. On February 15, 2012, our stockholders approved an increase of 2,000,000 of shares of common stock available for issuance under the amended 2008 Stock Option Plan (the “Plan”). As amended, the Plan provides for 7,000,000 shares of common stock for all awards. On February 24, 2016, the stockholders of the Company approved an amendment to the Company’s 2008 Stock Option Plan, pursuant to which the number of shares available under the plan was increase from 7,000,000 to 9,000,000 shares of common stock. Other provisions of the Amended 2008 Plan remain the same as under our 2008 Plan. As of August 31, 2017, a total of 3,780,000 shares of our common stock remained available for future grants under the Amended 2008 Plan. Income Taxes Income taxes are computed using the asset and liability method, in accordance with ASC 740, Income Taxes Basic and Diluted Loss Per Share The Company computes loss per share in accordance with ASC 260, Earnings Per Share Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Management believes that these financial statements include all normal and recurring adjustments necessary for a fair presentation under Generally Accepted Accounting Principles. Fair Value Measurements We account 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. Our financial instruments consist principally of cash, accounts payable and accrued liabilities and note payable. 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. Recent Accounting Pronouncements Pronouncements between August 31, 2017 and the date of this filing are not expected to have a significant impact on our operations, financial position, or cash flow, nor does the Company expect the adoption of recently issued, but not yet effective, accounting pronouncements to have a significant impact on our results of operations, financial position or cash flows. Joint Venture On July 15, 2015, we entered into an operating agreement (“Operating Agreement”) with K-Tech, to formalize our joint venture company, Reetech, LLC, a Delaware limited liability company (the “Reetech”), for the purposes of developing, refining and marketing K-Tech’s CIX/CIC process pursuant to the February 24, 2015 letter of intent with K-Tech. Pursuant to the Operating Agreement, K-Tech holds an initial interest of 97.21% of Reetech for the contribution of its technology pursuant to a license to Reetech (the “Reetech License) and TMRC holds an initial interest of 2.79% pursuant to its contribution of cash payment of $391,000 to the prior development of the contributed Technology for the purposes of the joint venture. TMRC has the ability to earn a 49.9% interest in Reetech by contributing up to $7.0 million in cash contributions upon the satisfaction of certain development milestones. Reetech is governed by a board of managers comprised of three managers: one manager appointed by the Company and two managers appointed by K-Tech. The Company uses the cost method to account for its investment in the joint venture. Under the cost method, the Company recognizes its share of the earnings and losses of the joint venture as they accrue instead of when they are realized. We have elected to expense the initial investment amount of $391,000 as exploration expenses. Based upon information available we have determined there are no significant potential loss liabilities. The Company’s interest in the joint venture remains $0.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Aug. 31, 2017
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	NOTE 3 – PROPERTY AND EQUIPMENT, NET Property and equipment consist of office furniture, equipment and vehicles. The property and equipment are depreciated using the straight-line method over their estimated useful life of 3-20 years. Our property and equipment, net consist of the following: August 31, August 31, Furniture & office equipment $ 75,606 $ 75,606 Vehicles 89,185 89,185 Computers & software 48,711 48,711 Field equipment 71,396 71,396 Total cost basis 284,898 284,898 Less: Accumulated depreciation (279,477 ) (269,362 ) Property & equipment, net $ 5,421 $ 15,536 Depreciation expense for the years ending August 31, 2017 and 2016 was $10,115 and $27,737, respectively and is included in general and administrative expenses.

MINERAL PROPERTIES

MINERAL PROPERTIES	12 Months Ended
	Aug. 31, 2017
Mineral Industries Disclosures [Abstract]
MINERAL PROPERTIES	NOTE 4 – MINERAL PROPERTIES September 2011 Lease On September 2, 2011, we entered into 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 acres at Round Top Mountain in Hudspeth County, Texas. The mining lease issued by the Texas General Land Office gives us the right to explore, produce, develop, mine, extract, mill, remove, and market beryllium, uranium, rare earth elements, all other base and precious metals, industrial minerals and construction materials and all other minerals excluding oil, gas, coal, lignite, sulfur, salt, and potash. The term of the lease is nineteen years so long as minerals are produced in paying quantities. Under the lease, we will pay the State of Texas a lease bonus of $142,518; $44,718 of which was paid upon the execution of the lease, and $97,800 which will be due when we submit a supplemental plan of operations to conduct mining. Upon the sale of minerals removed from Round Top, we will pay the State of Texas a $500,000 minimum advance royalty. Thereafter, we will pay the State of Texas a production royalty equal to eight percent (8%) of the market value of uranium and other fissionable materials removed and sold from Round Top and six and one quarter percent (61/4%) of the market value of all other minerals removed and sold from Round Top. Thereafter, assuming production of paying quantities has not been obtained, we may pay additional delay rental fees to extend the term of the lease for successive one (1) year periods pursuant to the following schedule: Per Acre Amount Total Amount September 2, 2015 – 2019 $ 75 $ 67,077 September 2, 2020 – 2024 $ 150 $ 134,155 September 2, 2025 – 2029 $ 200 $ 178,873 In August 2017, we paid a delay rental to the State of Texas in the amount of $67,077. November 2011 Lease On November 1, 2011, we entered into a mining lease with the State of Texas covering 90 acres, more or less, of land that is adjacent to the land we purchased in September 2011 near our Round Top site. The deed was recorded with Hudspeth County on September 16, 2011. Under the lease, we paid the State of Texas a lease bonus of $20,700 which was paid upon the execution of the lease. Upon the sale of minerals removed from Round Top, we will pay the State of Texas a $50,000 minimum advance royalty. Thereafter, we will pay the State of Texas a production royalty equal to eight percent (8%) of the market value of uranium and other fissionable materials removed and sold from Round Top and six and one quarter percent (6 1/4%) of the market value of all other minerals sold from Round Top. Thereafter, assuming production of paying quantities has not been obtained, we may pay additional delay rental fees to extend the term of the lease for successive one (1) year periods pursuant to the following schedule: Per Acre Amount Total Amount November 1, 2015 – 2019 $ 75 $ 6,750 November 1, 2020 – 2024 $ 150 $ 13,500 November 1, 2025 – 2029 $ 200 $ 18,000 In October 2017, we paid a delay rental to the State of Texas of $6,750. March 2013 Lease On March 6, 2013, we purchased lease with Southwest Range & Wildlife Foundation, Inc., a Texas non-profit corporation (the “Foundation”), pursuant to which the Foundation agreed to assign to us a surface lease identified with the State of Texas as Surface Lease SL20040002 (the “West Lease”), which covers 54,990.11 acres in Hudspeth County, Texas. In exchange for the West Lease, we agreed to: (i) pay the Foundation $500,000 in cash; (ii) issue 1,063,830 of our common shares, par value $0.01 (the “Common Shares”); and (iii) make ten (10) payments to the Foundation of $45,000 each. The first payment was made in June 2013, and the nine (9) subsequent payments due on or before June 1 of each of the following years, such payments to be used by the Foundation to support conservation efforts within the Rio Grande Basin. The Lease Assignment Agreement contains standard representations, warranties and covenants. As of August 31, 2017, the Company has not paid the June 2016 or 2017 payments for $45,000, respectively. The Foundation has not given notice of default or made any demand for payment as of the date of this filing. However, based upon the Company being in default on the lease agreement there is no guarantee that the Foundation will allow the Company to begin mining operations or to bring the lease payments current without requiring the Company to provided additional consideration to the Foundation. Consequently, since the Company cannot be guaranteed the ability to utilize the lease due to its current default status, the Company has written off the value of the West lease ($1,394,852) as of August 31, 2017. The Company intends to continue with the evaluation of the mineral potential of the property, to ultimately mine the property, and to bring the lease current when funds are available. Expensing the value of the West Lease does not restrict our access to the mineral leases. October 2014 Surface Option In October 2014, we executed an agreement 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 acres over the mining lease and the additional acreage adequate to site all potential heap leaching and processing operations as currently anticipated by the Company. We may exercise the option for all or part of the option acreage at any time during the sixteen year primary term of the mineral lease. The option can be kept current by an annual payment of $10,000, which has not been paid as of December 11, 2017. The purchase price will be the appraised value of the surface at the time of exercising the option. The ground water lease secures our right to develop the ground water within a 13,120 acre lease area located approximately 4 miles from the Round Top deposit. The lease area contains five existing water wells. It is anticipated that all potential water needs for the Round Top project mine operations would be satisfied by the existing wells covered by this water lease. This lease has an annual minimum production payment of $5,000 prior to production of water for the operation, which has not been paid as of December 11, 2017. After initiation of production we will pay $0.95 per thousand gallons or $20,000 annually, whichever is greater. This lease remains effective as long as the mineral lease is in effect. The Pagnotti Enterprises Inc. Memorandum of Understanding On June 28, 2016 TMRC executed a Memorandum of understanding with Pagnotti Enterprises Inc. (“PEI”) of Wilkes Barre, Pennsylvania, owners of the Jeddo Coal Co., whereby under specified terms TMRC could lease one or more of Jeddo’s deposits located in the anthracite region of northeast Pennsylvania. Research by the Department of Energy (DOE) has shown that these coal deposits and the sandstones and siltstones immediately associated with them contain anomalously high values of rare earth and on particular interest, Scandium. The DOE research to date has indicated that the rare earth can be efficiently extracted from pulverized rock using ammonium sulfate as the lixiviant. TMRC is in the process of preparing an application for a federal grant to design and construct a continuous ion exchange/continuous ion chromatography (CIX/CIC) pilot plant to be delivered to a designated project area in the Appalachian coal province. TMRC and its co-applicants, K-Tech, Inventure Renewables, of Tuscaloosa, Alabama and Penn State University are proposing to plan, develop, design and install the CIX/CIC pilot plant at one of the Jeddo Coal properties. The grant was awarded in March 2017 to the consortium consisting of Inventure Renewables, Penn State, K-Tech and TMRC with Inventure being the principal investigator in the consortium. Funding began in September 2017. Under the terms of the Memorandum of Understanding (MOU) signed 28 June 2016, TMRC had a six month term to perform the necessary due diligence and to technically and economically evaluate the properties. Upon execution of the MOU TMRC and PEI had six months to draft and execute a formal lease agreement containing all the standard terms of mining lease agreements. Upon execution of a lease, TMRC will be obligated to pay a $5,000 per month rental or a 12% royalty whichever is greater. As of the date of this filing, no lease has been executed.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Aug. 31, 2017
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 5 – NOTES PAYABLE In relation to the Foundation lease discussed in Note 2 the Company recorded a note payable for an amount for the initial $45,000 due upon signing of lease and the nine (9) future payments due of $45,000 which has been recorded at its present value discounted with an imputed interest rate of 5% for a total note payable of $364,852. As of the date of this filing, we have not paid the June 2016 or 2017 installment of our surface lease, in the amount of $45,000 each, to the Southwest Wildlife Foundation. As a result the full amount of the note payable has been classified as currently due. The note payable balance as of August 31, 2017 and 2016 was approximately $260,000. The Company has also accrued interest expense as of August 31, 2017 and 2016 of $33,750 and $18,750, respectively. This unpaid interest is included in accrued liabilities. The Foundation has not given notice of default or made any demand for payment as of the date of this filing. However, based upon the Company being in default on the Note Payable there is no guarantee that the Foundation will allow the Company to begin mining operations or to bring the lease payments current without requiring the Company to provided additional consideration to the Foundation. Consequently, since the Company cannot be guaranteed the ability to utilize the lease due to its current default status, the Company has written off the value of this lease ($1,394,852) as of August 31, 2017. The Company intends to continue with the evaluation of the mineral potential of the property, to ultimately mine the property, and to bring this note payable and its accrued interest current when the funds are available. Related Party Notes Payable and Advances On July 1, 2016 the Company received two loans for $2,500 each from two directors of the Company. The loans are non-interest accruing, unsecured and due upon demand. As additional consideration for the loans, we issued 5,000 common stock purchase warrants to each individual. The warrants have an exercise price of $0.10 and term of five years. The warrants had a fair value of $1,185 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.00% (ii) estimated volatility of 185% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 and August 31, 2016 was a total of $5,000. The value of the warrants was expensed as interest expense at the time of issuance due to no stated term on the advances. On September 1, 2016, the Company entered into five loans totaling $71,500 from five directors of the Company. The loans were due March 1, 2017, are non-interest bearing, and unsecured. As of this filing the loans are in default and due upon demand. As additional consideration for the loans, we issued in total 147,000 common stock purchase warrants. The warrants have an exercise price of $0.10 and term of five years. The loans have a relative fair value of $57,414 and the warrants have a relative fair value of $14,086 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.180% (ii) estimated volatility of 245% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 and August 31, 2016 was $71,500. The value of the warrant was amortized to interest expense over the term of the note payable. On November 1, 2016 the Company entered into two loans for $4,000 and $1,000 from two directors of the Company. The loans are non-interest bearing, unsecured and due upon demand. As additional consideration for the loans, we issued 8,000 and 2,000 common stock purchase warrants to each individual. The warrants have an exercise price of $0.10 and term of five years. The warrants had a fair value of $1,057 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.30% (ii) estimated volatility of 181% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 was $5,000. The value of the warrants was expensed as interest expense at the time of issuance due to no stated term on the advance. On December 12, 2016, the Company entered into a loan for $15,000 a director of the Company. The loan is due June 12, 2017, is non-interest accruing, and unsecured. As of this filing the loan is in default and due upon demand. As additional consideration for the loan, we issued 60,000 common stock purchase warrants to the individual. The warrants have an exercise price of $0.10 and term of five years. The loan has a relative fair value of $10,437 and the warrants have a relative fair value of $4,563 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.90% (ii) estimated volatility of 241% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 was $15,000. The value of the warrant was amortized to interest expense over the term of the note payable. On January 12, 2017 the Company entered into two loans totaling $20,000 from a director and an officer of the Company. The loans are due July 12, 2017, are non-interest accruing, and unsecured. As of this filing the loans are in default and due upon demand. As additional consideration for the loans, we issued 40,000 common stock purchase warrants to each individual. The warrants have an exercise price of $0.10 and term of five years. The loans have a relative fair value of $13,542 and the warrants have a relative fair value of $6,458 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.87% (ii) estimated volatility of 240% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 was $20,000. The value of the warrant was amortized to interest expense over the term of the note payable. During the three months ended May 31, 2017 the Company entered into eight loans totaling $47,500 from two directors of the Company. The loans are non-interest accruing, unsecured and due upon demand. As additional consideration for the loans, we issued in total 190,000 common stock purchase warrants. The warrants have an exercise price of $0.17 - $0.21 and a term of five years. The warrants had a fair value of $39,557 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.75% (ii) estimated volatility of 234% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 was $47,500. The value of the warrants was expensed as interest expense at the time of issuance due to no stated term on the advance. During the three months ended August 31, 2017 the Company entered into seven loans totaling $82,165 from two directors of the Company. The loans are non-interest accruing, unsecured and due upon demand. As additional consideration for the loans, we issued in total 328,660 common stock purchase warrants. The warrants have an exercise price of $0.20 - $0.23 and a term of five years. The warrants have a fair value of $65,137 at the date of issuance determined using the Black-Scholes option-pricing model. The assumptions used to calculate the fair market value are as follows: (i) risk-free interest rate of 1.75% (ii) estimated volatility of 169% (iii) dividend yield of 0.00% and (iv) expected life of the warrants of five years. The notes payable balance as of August 31, 2017 was $82,165. The value of the warrants was expensed as interest expense at the time of issuance due to no stated term on the advance. The Company has recorded total discounts on the notes payable in the amount of $25,107 which has been expensed during the year ended August 31, 2017, as amortization of discounts on the notes payable.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Aug. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 6 – INCOME TAXES The following table sets forth a reconciliation of the federal income tax benefit to the United States federal statutory rate for the years ended August 31, 2017 and 2016: 2017 2016 Loss before provision for income taxes $ (2,135,126 ) $ (1,213,939 ) Income tax benefit at 34% statutory rate 725,943 412,739 Non-deductible business meals and entertainment (193 ) (206 ) Increase in valuation allowance (725,750 ) (412,533 ) $ — $ — 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 of the potential that the tax benefits underlying deferred tax asset may not be realized. Significant components of our deferred tax asset at August 31, 2017 and 2016 are as follows: 2017 2016 Net operating loss carryforward $ 4,364,324 $ 4,189,910 Stock-based compensation 1,694,459 1,649,967 Assets, exploration cost, depreciation and amortization 3,734,534 3,703,770 Impairment of surface lease 474,070 — Less valuation allowance (10,267,388 ) (9,543,646 ) Net deferred tax asset $ — $ — As a result of a change in control effective in April 2007, our net operating losses prior to that date may be partially or entirely unavailable, by law, to offset future income and, accordingly, are excluded from the associated deferred tax asset. The gross net operating loss carryforward in the approximate amount of $12,691,000 will begin to expire in 2022. We file income tax returns in the United States and in one state jurisdiction. With few exceptions, we are no longer subject to United States federal income tax examinations for fiscal years ending before 2011, and is no longer subject to state tax examinations for years before 2010. We also record any financial statement recognition and disclosure requirements for uncertain tax positions taken or expected to be taken in a tax return. Financial statement recognition of the tax position is dependent on an assessment of a 50% or greater likelihood that the tax position will be sustained upon examination, based on the technical merits of the position. Any interest and penalties related to uncertain tax positions are recorded as interest expense. We believe we have no uncertain tax positions at August 31, 2017 and 2016.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Aug. 31, 2017
Equity [Abstract]
SHAREHOLDERS' EQUITY	NOTE 7 – SHAREHOLDERS’ EQUITY Our authorized capital stock consists of 100,000,000 shares of common stock, with a par value of $0.01 per share, and 10,000,000 preferred shares with a par value of $0.001 per share. 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. The 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 the common stock are entitled to equal ratable rights to dividends and distributions with respect to the common stock, as may be declared by our Board of Directors (our “Board”) out of funds legally available. In the event of a liquidation, dissolution or winding up of the affairs of the Corporation, 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. We have 44,941,532 shares of our common stock outstanding as of August 31, 2017. The following table sets forth certain information as of August 31, 2017 and 2016 concerning our common stock that may be issued upon the exercise of options not under the Amended 2008 plan and pursuant to purchases of stock under the Amended 2008 Plan: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Grant Date Fair Value Outstanding at August 31, 2015 6,290,000 $ 0.94 4.67 $ 11,764,532 Options granted 120,000 0.30 4.53 19,471 Options exercised — — — — Options cancelled/forfeited/expired (775,000 ) — — — Outstanding at August 31, 2016 5,635,000 0.61 3.43 11,784,003 Vested and exercisable at August 31, 2016 5,635,000 0.61 3.43 11,784,003 Options granted 120,000 0.30 4.53 18,907 Options exercised — — — — Options cancelled/forfeited/expired — — — — Outstanding at August 31, 2017 5,755,000 $ 0.60 2.59 $ 11,802,910 Vested and exercisable at August 31, 2017 5,755,000 $ 0.60 2.59 $ 11,802,910 Warrants Warrant activity for the years ended August 31, 2017 and 2016 are as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Grant Date Fair Value Outstanding at August 31, 2015 18,291,550 $ 1.54 2.37 $ 4,291,419 Warrants granted 6,605,000 0.35 4.24 434,905 Warrants exercised — — — — Warrants cancelled/forfeited/expired (9,587,000 ) — — — Outstanding at August 31, 2016 15,309,550 0.39 3.75 4,726,324 Vested and exercisable at August 31, 2016 15,309,550 0.39 3.75 4,726,324 Warrants granted 815,660 0.17 4.63 130,858 Warrants exercised — — — — Warrants cancelled/forfeited/expired — — — — Outstanding at August 31, 2017 16,125,210 $ 0.38 2.83 $ 4,857,182 Vested and exercisable at August 31, 2017 16,125,210 $ 0.38 2.83 $ 4,857,182

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Aug. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS The Company has received advances from certain Directors and Officers. The advances totaled approximately $169,665 and $76,500 as of August 31, 2017 and 2016, respectively. The Company rents office space on a month to month basis of $1,600 from a director.

SUMMARY OF ACCOUNTING POLICIES

SUMMARY OF ACCOUNTING POLICIES (Policies)	12 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our financial records are maintained on the accrual basis of accounting whereby revenues are recognized when earned and expenses are recorded when incurred, in accordance with generally accepted accounting principles (“GAAP”) – United States. Reclassification of prior year balances Our financial statements during the year ended August 31, 2016 contain amounts that have been reclassified for presentation purposes. The amounts and content of account balances were not altered during the reclassification.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consist of demand deposits at commercial banks. We currently do not have cash deposits at financial institutions in excess of federally insured limits.
Property and Equipment	Property and Equipment Our property and equipment consists primarily of vehicles, furniture and equipment, and are recorded at cost. Expenditures related to acquiring or extending the useful life of our 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 years.
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.
Revenue Recognition	Revenue Recognition We recognize revenue when persuasive evidence of an arrangement exists, services have been performed, the sales price is fixed or determinable, and collectability is probable. We have yet to generate any revenue.
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 and ASC 505, Share-Based Payments Amended 2008 Stock Option Plan In September 2008, the Board adopted our 2008 Stock Option Plan (the “2008 Plan”), which was also approved by our shareholders in September 2008. In May 2011, the board of directors adopted an amendment to our 2008 Plan (the “Amended 2008 Plan”), which was also approved by our shareholders in August 2011. The Amended 2008 Plan increased the number of shares available for grant from 2,000,000 to up to 5,000,000 shares of our common stock for awards to our officers, directors, employees and consultants. On February 15, 2012, our stockholders approved an increase of 2,000,000 of shares of common stock available for issuance under the amended 2008 Stock Option Plan (the “Plan”). As amended, the Plan provides for 7,000,000 shares of common stock for all awards. On February 24, 2016, the stockholders of the Company approved an amendment to the Company’s 2008 Stock Option Plan, pursuant to which the number of shares available under the plan was increase from 7,000,000 to 9,000,000 shares of common stock. Other provisions of the Amended 2008 Plan remain the same as under our 2008 Plan. As of August 31, 2017, a total of 3,780,000 shares of our common stock remained available for future grants under the Amended 2008 Plan.
Income Taxes	Income Taxes Income taxes are computed using the asset and liability method, in accordance with ASC 740, Income Taxes
Basic and Diluted Loss Per Share	Basic and Diluted Loss Per Share The Company computes loss per share in accordance with ASC 260, Earnings Per Share
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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. Management believes that these financial statements include all normal and recurring adjustments necessary for a fair presentation under Generally Accepted Accounting Principles.
Fair Value Measurements	Fair Value Measurements We account 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. Our financial instruments consist principally of cash, accounts payable and accrued liabilities and note payable. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Pronouncements between August 31, 2017 and the date of this filing are not expected to have a significant impact on our operations, financial position, or cash flow, nor does the Company expect the adoption of recently issued, but not yet effective, accounting pronouncements to have a significant impact on our results of operations, financial position or cash flows.
Joint Venture	Joint Venture On July 15, 2015, we entered into an operating agreement (“Operating Agreement”) with K-Tech, to formalize our joint venture company, Reetech, LLC, a Delaware limited liability company (the “Reetech”), for the purposes of developing, refining and marketing K-Tech’s CIX/CIC process pursuant to the February 24, 2015 letter of intent with K-Tech. Pursuant to the Operating Agreement, K-Tech holds an initial interest of 97.21% of Reetech for the contribution of its technology pursuant to a license to Reetech (the “Reetech License) and TMRC holds an initial interest of 2.79% pursuant to its contribution of cash payment of $391,000 to the prior development of the contributed Technology for the purposes of the joint venture. TMRC has the ability to earn a 49.9% interest in Reetech by contributing up to $7.0 million in cash contributions upon the satisfaction of certain development milestones. Reetech is governed by a board of managers comprised of three managers: one manager appointed by the Company and two managers appointed by K-Tech. The Company uses the cost method to account for its investment in the joint venture. Under the cost method, the Company recognizes its share of the earnings and losses of the joint venture as they accrue instead of when they are realized. We have elected to expense the initial investment amount of $391,000 as exploration expenses. Based upon information available we have determined there are no significant potential loss liabilities. The Company’s interest in the joint venture remains $0.

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Aug. 31, 2017
Property, Plant and Equipment [Abstract]
Schedule of property and equipment, net	Property and equipment consist of office furniture, equipment and vehicles. The property and equipment are depreciated using the straight-line method over their estimated useful life of 3-20 years. Our property and equipment, net consist of the following: August 31, August 31, Furniture & office equipment $ 75,606 $ 75,606 Vehicles 89,185 89,185 Computers & software 48,711 48,711 Field equipment 71,396 71,396 Total cost basis 284,898 284,898 Less: Accumulated depreciation (279,477 ) (269,362 ) Property & equipment, net $ 5,421 $ 15,536

MINERAL PROPERTIES (Tables)

MINERAL PROPERTIES (Tables)	12 Months Ended
	Aug. 31, 2017
Mineral Industries Disclosures [Abstract]
Schedule of future minimum lease payments	September 2011 Lease Thereafter, assuming production of paying quantities has not been obtained, we may pay additional delay rental fees to extend the term of the lease for successive one (1) year periods pursuant to the following schedule: Per Acre Total September 2, 2015 – 2019 $ 75 $ 67,077 September 2, 2020 – 2024 $ 150 $ 134,155 September 2, 2025 – 2029 $ 200 $ 178,873 November 2011 Lease Thereafter, assuming production of paying quantities has not been obtained, we may pay additional delay rental fees to extend the term of the lease for successive one (1) year periods pursuant to the following schedule: Per Acre Total November 1, 2015 – 2019 $ 75 $ 6,750 November 1, 2020 – 2024 $ 150 $ 13,500 November 1, 2025 – 2029 $ 200 $ 18,000

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Aug. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of reconciliation of federal income tax benefit to fedeal statutory rates	The following table sets forth a reconciliation of the federal income tax benefit to the United States federal statutory rate for the years ended August 31, 2017 and 2016: 2017 2016 Loss before provision for income taxes $ (2,135,126 ) $ (1,213,939 ) Income tax benefit at 34% statutory rate 725,943 412,739 Non-deductible business meals and entertainment (193 ) (206 ) Increase in valuation allowance (725,750 ) (412,533 ) $ — $ —
Schedule of deferred tax assets	Significant components of our deferred tax asset at August 31, 2017 and 2016 are as follows: 2017 2016 Net operating loss carryforward $ 4,364,324 $ 4,189,910 Stock-based compensation 1,694,459 1,649,967 Assets, exploration cost, depreciation and amortization 3,734,534 3,703,770 Impairment of surface lease 474,070 — Less valuation allowance (10,267,388 ) (9,543,646 ) Net deferred tax asset $ — $ —

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Aug. 31, 2017
Equity [Abstract]
Schedule of stock option activity	The following table sets forth certain information as of August 31, 2017 and 2016 concerning our common stock that may be issued upon the exercise of options not under the Amended 2008 plan and pursuant to purchases of stock under the Amended 2008 Plan: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Grant Date Fair Value Outstanding at August 31, 2015 6,290,000 $ 0.94 4.67 $ 11,764,532 Options granted 120,000 0.30 4.53 19,471 Options exercised — — — — Options cancelled/forfeited/expired (775,000 ) — — — Outstanding at August 31, 2016 5,635,000 0.61 3.43 11,784,003 Vested and exercisable at August 31, 2016 5,635,000 0.61 3.43 11,784,003 Options granted 120,000 0.30 4.53 18,907 Options exercised — — — — Options cancelled/forfeited/expired — — — — Outstanding at August 31, 2017 5,755,000 $ 0.60 2.59 $ 11,802,910 Vested and exercisable at August 31, 2017 5,755,000 $ 0.60 2.59 $ 11,802,910
Schedule of warrant activity	Warrant activity for the years ended August 31, 2017 and 2016 are as follows: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (In Years) Grant Date Fair Value Outstanding at August 31, 2015 18,291,550 $ 1.54 2.37 $ 4,291,419 Warrants granted 6,605,000 0.35 4.24 434,905 Warrants exercised — — — — Warrants cancelled/forfeited/expired (9,587,000 ) — — — Outstanding at August 31, 2016 15,309,550 0.39 3.75 4,726,324 Vested and exercisable at August 31, 2016 15,309,550 0.39 3.75 4,726,324 Warrants granted 815,660 0.17 4.63 130,858 Warrants exercised — — — — Warrants cancelled/forfeited/expired — — — — Outstanding at August 31, 2017 16,125,210 $ 0.38 2.83 $ 4,857,182 Vested and exercisable at August 31, 2017 16,125,210 $ 0.38 2.83 $ 4,857,182

ORGANIZATION AND NATURE OF BU20

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative)	1 Months Ended	12 Months Ended
	Apr. 30, 2007	Aug. 31, 2017USD ($)a$ / sharesshares	Aug. 31, 2016USD ($)$ / sharesshares	Sep. 30, 2008$ / sharesshares	Jul. 31, 2004shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock, shares authorized | shares		100,000,000	100,000,000	100,000,000	25,000,000
Reverse Stock Split, conversion ratio	0.50
Common stock, par value | $ / shares		$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized | shares		10,000,000	10,000,000	10,000,000
Preferred stock, par value | $ / shares		$ 0.001	$ 0.001
Accumulated deficit | $		$ (34,631,983)	$ (32,496,857)
Number of leases held		2
Period of leases		19 years
Mining lease - acres | a		950
Surface rights - acres | a		9,345

SUMMARY OF ACCOUNTING POLICIE21

SUMMARY OF ACCOUNTING POLICIES (Details Narrative) - USD ($)	Jul. 15, 2015	Feb. 15, 2012	Aug. 31, 2017	Aug. 31, 2016	Feb. 24, 2016	Feb. 15, 2015	May 31, 2011	Aug. 31, 2008
Exploration costs			$ 90,484	$ 216,223
Shares available for issuance			3,780,000
Interest in joint venture			$ 0
Lower Range [Member]
Estimated useful life of property and equipment			3 years
Upper Range [Member]
Estimated useful life of property and equipment			20 years
Amended 2008 Plan [Member]
Number of shares authorized under plan					9,000,000	7,000,000	2,000,000	5,000,000
Number of additional shares authorized		2,000,000
Joint Venture Reetech, LLC [Member]
Exploration costs	$ 391,000
Cash contribution required after develpment milestones for additional interest	$ 7,000,000
Cost method ownership interest to be acquired after cash contribution	49.90%
Cost method ownership interest	2.79%
Joint Venture Reetech, LLC [Member] | K-Tech [Member]
Initial interest amount	$ 391,000
Ownership interest by party in joint venture	97.21%

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 10,115	$ 27,737
Lower Range [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	3 years
Upper Range [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	20 years

PROPERTY AND EQUIPMENT, NET (23

PROPERTY AND EQUIPMENT, NET (Details) - USD ($)	Aug. 31, 2017	Aug. 31, 2016
Property, Plant and Equipment [Line Items]
Total cost basis	$ 284,898	$ 284,898
Less: Accumulated depreciation	(279,477)	(269,362)
Property & equipment, net	5,421	15,536
Furniture and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	75,606	89,185
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	89,185	75,606
Computers & Software [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	48,711	48,711
Field Equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost basis	$ 71,396	$ 71,396

MINERAL PROPERTIES (Details Nar

MINERAL PROPERTIES (Details Narrative)	1 Months Ended							12 Months Ended
	Oct. 31, 2017USD ($)	Aug. 31, 2017USD ($)a	Jun. 28, 2016USD ($)	Oct. 31, 2014USD ($)aMiles$ / gal	Mar. 06, 2013USD ($)aNumbershares	Nov. 01, 2011USD ($)a	Sep. 02, 2011USD ($)a	Aug. 31, 2017USD ($)a	Aug. 31, 2016USD ($)	Jun. 01, 2016USD ($)	Jun. 01, 2013Number
Mining lease - acres | a		950						950
Surface rights - acres | a		9,345						9,345
Impairment of mineral properties								$ 1,394,852
Pagnotti Enterprises - MOU [Member]
Periodic lease payment			$ 5,000
Royalty percentage			12.00%
Texas General Land Office - Hudspeth County, TX [Member] | September 2011 Mineral Properties Lease [Member]
Mining lease - acres | a							860
Lease bonus							$ 142,518
Lease bonus paid							44,718
Lease bonus due upon filing of supplemental plan of operations to conduct mining							97,800
Minimum advance royalty due upon sale of minerals							$ 500,000
Production royalty of market value of uranium and other fissionable materials removed							8.00%
Production royalty of market value of other minerals removed							6.25%
Payment of delay rental		$ 67,077
Texas General Land Office - Hudspeth County, TX [Member] | Option to Purchase Surface Rights [Member]
Surface rights - acres | a				5,760
Periodic option annual payment due				$ 10,000
Texas General Land Office - Hudspeth County, TX [Member] | Option to Purchase Water Lease [Member]
Ground water lease - acres | a				13,120
Distance from project mine | Miles				4
Annual minimum production payment				$ 5,000
Production payment, amount per thousand gallons | $ / gal				0.95
Production payment, annual amount				$ 20,000
State of Texas - Hudspeth County, TX [Member] | November 2011 Mineral Properties Lease [Member]
Mining lease - acres | a						90
Lease bonus paid						$ 20,700
Minimum advance royalty due upon sale of minerals						$ 50,000
Production royalty of market value of uranium and other fissionable materials removed						8.00%
Production royalty of market value of other minerals removed						6.25%
State of Texas - Hudspeth County, TX [Member] | November 2011 Mineral Properties Lease [Member] | Subsequent Event [Member]
Payment of delay rental	$ 6,750
Southwest Range and Wildlife Foundation, Inc. [Member] | March 2013 Surface Lease [Member]
Surface rights - acres | a					54,990.11
Cash paid for lease assignment					$ 500,000
Shares issued for lease | shares					1,063,830
Periodic lease payment					$ 45,000
Number of payments | Number					10						9
Lease payments payable		$ 45,000						45,000		$ 45,000
Impairment of mineral properties								$ 1,394,852

MINERAL PROPERTIES (Details)

MINERAL PROPERTIES (Details)	Aug. 31, 2017USD ($)
September 2, 2015 - 2019 [Member]
Per Acre Amount	$ 75
Total Lease Amount	67,077
September 2, 2020 - 2024 [Member]
Per Acre Amount	150
Total Lease Amount	134,155
September 2, 2025 - 2029 [Member]
Per Acre Amount	200
Total Lease Amount	178,873
November 1, 2015 - 2019 [Member]
Per Acre Amount	75
Total Lease Amount	6,750
November 1, 2020 - 2024 [Member]
Per Acre Amount	150
Total Lease Amount	13,500
November 1, 2025 - 2029 [Member]
Per Acre Amount	200
Total Lease Amount	$ 18,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative)	Jan. 12, 2017USD ($)$ / sharesshares	Dec. 12, 2016USD ($)$ / sharesshares	Nov. 01, 2016USD ($)$ / sharesshares	Sep. 02, 2016USD ($)$ / sharesshares	Jul. 01, 2016USD ($)$ / sharesshares	Mar. 06, 2013USD ($)Number	Aug. 31, 2017USD ($)$ / sharesshares	May 31, 2017USD ($)$ / sharesshares	Aug. 31, 2017USD ($)$ / shares	Aug. 31, 2016USD ($)
Debt Instrument [Line Items]
Current portion of note payable							$ 260,387		$ 260,387	$ 260,387
Notes payable - related party, net of discounts							246,165		246,165	76,500
Amortization of debt discount									25,107
Impairment of mineral properties									1,394,852
Foundation Lease Note Payable [Member]
Debt Instrument [Line Items]
Periodic payment						$ 45,000
Number of payments | Number						9
Imputed interest rate						5.00%
Note payable face amount						$ 364,852
Current portion of note payable							260,000		260,000	260,000
Accrued interest payable							33,750		33,750	18,750
Amount of lease payment in default							45,000		45,000
Director Loans 7/1/2016 [Member]
Debt Instrument [Line Items]
Number of loans					2
Number of directors					2
Note payable face amount					$ 2,500
Notes payable - related party, net of discounts							5,000		5,000	5,000
Common stock warrants granted | shares					5,000
Warrants, exercise price | $ / shares					$ 0.10
Warrant term					5 years
Fair value of debt					$ 3,815
Fair value of warrants					$ 1,185
Expected life					5 years
Expected volatility					185.00%
Risk-free interest rate					1.00%
Expected dividend yield					0.00%
Director Loans 9/1/2016 [Member]
Debt Instrument [Line Items]
Number of loans				5
Number of directors				5
Note payable face amount				$ 71,500
Notes payable - related party, net of discounts							71,500		71,500	$ 71,500
Common stock warrants granted | shares				147,000
Warrants, exercise price | $ / shares				$ 0.10
Warrant term				5 years
Fair value of debt				$ 57,414
Fair value of warrants				$ 14,086
Expected life				5 years
Expected volatility				245.00%
Risk-free interest rate				1.18%
Expected dividend yield				0.00%
Director Loan 11/1/2016 #1 [Member]
Debt Instrument [Line Items]
Note payable face amount			$ 4,000
Common stock warrants granted | shares			8,000
Director Loan 11/1/2016 #2 [Member]
Debt Instrument [Line Items]
Note payable face amount			$ 1,000
Common stock warrants granted | shares			2,000
Director Loans 11/1/2016 [Member]
Debt Instrument [Line Items]
Number of loans			2
Number of directors			2
Notes payable - related party, net of discounts							5,000		5,000
Warrants, exercise price | $ / shares			$ 0.10
Warrant term			5 years
Fair value of warrants			$ 1,057
Expected life			5 years
Expected volatility			181.00%
Risk-free interest rate			1.30%
Expected dividend yield			0.00%
Director Loan 12/12/2016 [Member]
Debt Instrument [Line Items]
Note payable face amount		$ 15,000
Notes payable - related party, net of discounts							15,000		15,000
Maturity date		Jun. 12, 2017
Common stock warrants granted | shares		60,000
Warrants, exercise price | $ / shares		$ .10
Warrant term		5 years
Fair value of debt		$ 10,467
Fair value of warrants		$ 4,563
Expected life		5 years
Expected volatility		241.00%
Risk-free interest rate		1.90%
Expected dividend yield		0.00%
Director and Officer Loans 1/12/2017 [Member]
Debt Instrument [Line Items]
Number of loans	2
Note payable face amount	$ 20,000
Notes payable - related party, net of discounts							20,000		20,000
Maturity date	Jul. 12, 2017
Common stock warrants granted | shares	40,000
Warrants, exercise price | $ / shares	$ .10
Warrant term	5 years
Fair value of debt	$ 13,542
Fair value of warrants	$ 6,458
Expected life	5 years
Expected volatility	240.00%
Risk-free interest rate	1.87%
Expected dividend yield	0.00%
Director Loans Qtr 5/31/2017 [Member]
Debt Instrument [Line Items]
Number of loans								8
Number of directors								2
Note payable face amount								$ 47,500
Notes payable - related party, net of discounts							$ 47,500		$ 47,500
Common stock warrants granted | shares								190,000
Warrant term								5 years
Fair value of warrants								$ 39,557
Expected life								5 years
Expected volatility								234.00%
Risk-free interest rate								1.75%
Expected dividend yield								0.00%
Director Loans Qtr 5/31/2017 [Member] | Lower Range [Member]
Debt Instrument [Line Items]
Warrants, exercise price | $ / shares								$ 0.17
Director Loans Qtr 5/31/2017 [Member] | Upper Range [Member]
Debt Instrument [Line Items]
Warrants, exercise price | $ / shares								$ 0.21
Director Loans Qtr 8/31/2017 [Member]
Debt Instrument [Line Items]
Number of loans							7		7
Number of directors							2		2
Note payable face amount							$ 82,165		$ 82,165
Accrued interest payable							$ 82,165		82,165
Common stock warrants granted | shares							328,660
Warrant term							5 years
Fair value of warrants							$ 65,137		$ 65,137
Expected life							5 years
Expected volatility							169.00%
Risk-free interest rate							1.75%
Expected dividend yield							0.00%
Director Loans Qtr 8/31/2017 [Member] | Lower Range [Member]
Debt Instrument [Line Items]
Warrants, exercise price | $ / shares							$ 0.20		$ 0.20
Director Loans Qtr 8/31/2017 [Member] | Upper Range [Member]
Debt Instrument [Line Items]
Warrants, exercise price | $ / shares							$ 0.23		$ 0.23

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Aug. 31, 2017USD ($)
Income Tax Disclosure [Abstract]
Federal statutory rate	34.00%
Net operating loss carryforward	$ 14,085,547
Net operating loss carryforward, expiration date	Dec. 31, 2022

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Reconciliation of federal income tax
Loss before provision for income taxes	$ (2,135,126)	$ (1,213,939)
Income tax benefit at 34% statutory rate	725,943	412,739
Non-deductible business meals and entertainment	(193)	(206)
Increase in valuation allowance	$ (725,750)	$ (412,533)

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Aug. 31, 2017	Aug. 31, 2016
Deferred tax asset:
Net operating loss carryfoward	$ 4,364,324	$ 4,189,910
Stock-based compensation	1,694,459	1,649,967
Assets, exploration cost, depreciation and amortization	3,734,534	3,703,770
Impairment of surface lease	474,070
Less: valuation allowance	$ (10,267,388)	$ (9,543,646)

SHAREHOLDERS' EQUITY (Details N

SHAREHOLDERS' EQUITY (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Sep. 30, 2008	Jul. 31, 2004
Common stock, shares authorized	100,000,000	100,000,000	100,000,000	25,000,000
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Common stock, shares outstanding	44,941,532	44,941,532
Stock based compensation - options	$ 105,751
Consultant [Member]
Stock based compensation - options	$ 12,285
Stock options issued to outside consultant (shares)	90,000

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - Stock Options [Member] - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2015
Stock Options
Outstanding, beginning	5,635,000	6,290,000
Options granted	120,000	120,000
Options cancelled/forfeited/expired		(775,000)
Outstanding, ending	5,755,000	5,635,000	6,290,000
Vested, ending	5,755,000	5,635,000
Exercisable, ending	5,755,000	5,635,000
Weighted Average Exercise Price
Outstanding, beginning	$ 0.61	$ 0.94
Options granted	.30	0.30
Outstanding, ending	.60	$ 0.61	$ 0.94
Vested, ending	0.60
Exercisable, ending	$ .60
Weighted Average Remaining Contractual Life (In Years)
Outstanding	2 years 7 months 2 days	3 years 5 months 5 days	4 years 8 months 2 days
Options granted	4 years 6 months 10 days	4 years 6 months 10 days
Vested, ending	2 years 7 months 2 days	3 years 5 months 5 days
Exercisable, ending	2 years 7 months 2 days	3 years 5 months 5 days
Grant Date Fair Value
Outstanding, beginning	$ 11,784,003	$ 11,764,532
Options granted	18,907	19,471
Outstanding, ending	11,802,910	11,784,003	$ 11,764,532
Vested, ending	$ 11,802,910	$ 11,784,003

SHAREHOLDERS' EQUITY (Details 1

SHAREHOLDERS' EQUITY (Details 1) - Warrants [Member] - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2015
Warrants
Outstanding, beginning	15,309,550	18,291,550
Granted	815,660	6,605,000
Cancelled/forfeited/expired		(9,587,000)
Outstanding, ending	16,125,210	15,309,550	18,291,550
Vested and Exercisable, ending	16,125,210	15,309,550
Weighted Average Exercise Price
Outstanding, beginning	$ 0.39	$ 1.54
Granted	0.17	0.35
Outstanding, ending	0.38	0.39	$ 1.54
Vested and Exercisable, ending	$ 0.38	$ 0.39
Weighted Average Remaining Contractual Life (In Years)
Outstanding	2 years 9 months 29 days	3 years 9 months	2 years 4 months 13 days
Granted	4 years 7 months 17 days	4 years 2 months 27 days
Vested and Exercisable	2 years 9 months 29 days	3 years 9 months
Grant Date Fair Value
Outstanding, beginning	$ 4,726,324	$ 4,291,419
Granted	130,858	434,905
Qutstanding, ending	4,857,182	4,726,324	$ 4,291,419
Vested and Exercisable	$ 4,857,182	$ 4,726,324

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Advances - related party	$ 169,665	$ 76,500
Director [Member]
Monthly rent paid to director	$ 1,600