Passport Potash (PPI.H) 10-Q 15 Oct 13 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Aug. 31, 2013	Oct. 07, 2013
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Aug-13
Trading Symbol	ppi
Entity Registrant Name	PASSPORT POTASH INC
Entity Central Index Key	1508128
Current Fiscal Year End Date	-27
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		183,619,388
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Aug. 31, 2013	Feb. 28, 2013
Current assets
Cash and cash equivalents	$38,205	$1,643,771
Receivables	20,524	56,526
Injunction bond	0	350,000
Prepaid expenses	174,548	272,750
Deferred issuance costs	17,976	37,380
Total current assets	251,253	2,360,427
Equipment	742	824
Unproven mineral properties	1,600,000	1,600,000
Long term deposit	975,000	975,000
Reclamation deposits	15,000	15,000
Total non-current assets	2,590,742	2,590,824
TOTAL ASSETS	2,841,995	4,951,251
Current liabilities
Trade payables and accrued liabilities	1,182,032	1,053,170
Convertible debentures	4,252,919	1,624,128
Convertible debentures - subscriptions received	0	350,000
Derivative liability	105,460	1,619,786
TOTAL LIABILITIES	5,540,411	4,647,084
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock - Unlimited authorized without par value, 183,619,388 and 183,551,407 issued and outstanding at August 31, 2013 and February 28, 2013, respectively	33,675,350	33,659,380
Additional paid-in capital	15,815,790	15,088,169
Accumulated deficit	-13,514,818	-13,514,818
Deficit accumulated during exploration stage	-38,674,738	-34,928,564
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	-2,698,416	304,167
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$2,841,995	$4,951,251

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Aug. 31, 2013	Feb. 28, 2013
Common Stock, No Par Value	$0	$0
Common Stock, Shares, Issued	183,619,388	183,551,407
Common Stock, Shares, Outstanding	183,619,388	183,551,407

Consolidated_statement_of_oper

Consolidated statement of operations (USD $)	3 Months Ended		6 Months Ended		75 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
Operating Expenses
Administration	$64,836	$21,591	$85,460	$26,092	$988,319
Advertising	21,050	134,987	72,543	345,944	1,814,028
Business development	104,677	113,119	240,485	306,348	1,257,022
Consulting fees	200,282	135,590	330,975	313,858	8,552,689
Depreciation	41	55	82	110	2,299
Foreign exchange loss (gain)	11,139	-161,934	19,305	143,947	152,808
Investor relations	79,802	67,399	140,690	188,671	1,398,487
Management fees	247,901	166,043	412,115	337,044	3,693,415
Mineral property impairment	0	0	0	0	652,784
Mineral property option payments and exploration costs	431,073	2,558,018	1,076,358	3,794,043	21,745,969
Office and miscellaneous	15,363	17,720	35,370	34,971	313,473
Professional fees	239,076	262,774	275,857	336,499	1,550,578
Property investigation costs	0	0	0	0	24,483
Transfer agent and filing fees	31,457	16,855	59,100	19,298	404,053
Net loss before other items	-1,446,697	-3,332,217	-2,748,340	-5,846,825	-42,550,407
Other items
Accretion expense	-1,049,013	0	-2,076,400	0	-2,169,966
Change in fair value of derivative liability	816,868	1,749,229	1,511,513	4,995,782	6,292,352
Interest expense on convertible debentures	-218,533	0	-432,947	0	-452,570
Interest income	0	10,334	0	24,528	90,216
Loss on debt settlement	0	0	0	0	-37,488
Other income	0	112,668	0	112,668	153,125
Operating Income (Loss)	-450,678	1,872,231	-997,834	5,132,978	3,875,669
Net loss	($1,897,375)	($1,459,986)	($3,746,174)	($713,847)	($38,674,738)
Loss per share - basic and diluted	($0.01)	($0.01)	($0.02)	$0
Weighted average number of shares outstanding during the year - basic and diluted	183,610,235	172,118,709	183,597,578	170,721,208

Consolidated_statements_of_cas

Consolidated statements of cash flows (USD $)	6 Months Ended		75 Months Ended
	Aug. 31, 2013	Aug. 31, 2012	Aug. 31, 2013
Operating activities
Net loss for the period	($3,746,174)	($713,847)	($38,674,738)
Adjustments for:
Accretion expense	2,076,400	0	2,169,966
Amortization of deferred issuance costs	20,059	0	20,059
Depreciation	82	110	2,299
Interest expense on convertible debentures	432,947	0	452,570
Fair value adjustment on warrants	-1,511,513	-4,995,782	-6,292,352
Foreign exchange	0	0	-256,260
Loss on debt settlement	0	0	37,488
Mineral property option payments - shares	0	317,531	1,948,597
Other income	0	0	-138,474
Stock-based compensation	368,905	91,218	11,590,163
Changes in non-cash working capital items:
Receivables	36,002	837	-20,524
Injunction bond	350,000	0	0
Prepaid expenses	98,202	67,763	-172,446
Trade payables and accrued liabilities	128,862	-197,438	1,153,131
Net cash flows used in operating activities	-1,746,228	-5,429,608	-28,180,521
Investing activities
Reclamation deposits	0	0	-15,000
Long term deposits	0	-250,000	-975,000
Mineral property acquisition costs	0	-300,000	-1,600,000
Net cash flows used in investing activities	0	-550,000	-2,590,000
Financing activities
Debentures - net of issue costs	132,505	0	5,662,559
Proceeds on issuance of common shares - net of issue costs	8,157	176,976	25,146,167
Net cash flows from financing activities	140,662	176,976	30,808,726
(Decrease) increase in cash and cash equivalents	-1,605,566	-5,802,632	38,205
Cash and cash equivalents, beginning	1,643,771	8,599,010	0
Cash and cash equivalents, ending	38,205	2,796,378	38,205
Cash at bank	38,205	768,578	0
Guaranteed investment certificates	$0	$2,027,800	$0

Consolidated_statement_of_stoc

Consolidated statement of stockholders equity (deficit) (USD $)	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Deficit During Exploration Stage [Member]	Total
Beginning Balance at Feb. 28, 2013	$33,659,380	$15,088,169	($13,514,818)	($34,928,564)	$304,167
Beginning Balance (Shares) at Feb. 28, 2013	183,551,407
Net Loss				-3,746,174	-3,746,174
Shares issued for cash convertible debentures exercised	5,000				5,000
Shares issued for cash convertible debentures exercised (Shares)	26,315
Shares issued for cash warrants exercised	8,157				8,157
Shares issued for cash warrants exercised (Shares)	41,666
Transfer from derivative liability warrants exercised	2,813				2,813
Amount allocated to share purchase warrants on issuance of Debentures		137,515			137,515
Amount allocated to beneficial conversion feature on issuance of Debentures		223,041			223,041
Issuance costs allocated to share purchase warrants and beneficial conversion feature on issuance of Debentures		-1,840			-1,840
Stock-based compensation		368,905			368,905
Ending Balance at Aug. 31, 2013	$33,675,350	$15,815,790	($13,514,818)	($38,674,738)	($2,698,416)
Ending Balance (Shares) at Aug. 31, 2013	183,619,388

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Aug. 31, 2013
ORGANIZATION AND BASIS OF PRESENTATION [Text Block]	NOTE 1 – ORGANIZATION AND BASIS OF PRESENTATION
	Passport Potash Inc. (the “Company”) was incorporated on August 11, 1987. The Company’s corporate jurisdiction is the province of British Columbia, Canada. The Company has been engaged in the acquisition and exploration of mineral properties since 2007. The Company’s shares are listed on the TSX-Venture Exchange (“TSX-V”).
	The unaudited consolidated financial statements included herein have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the financial for the year ended February 28, 2013. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended August 31, 2013, are not necessarily indicative of the results that may be expected for any other interim period or the entire year. For further information, these unaudited consolidated financial statements and the related notes should be read in conjunction with the Company’s audited consolidated financial statements for the year ended February 28, 2013 included in the Company’s Form 10-K.
	The Company’s consolidated financial statements are prepared on a going concern basis in accordance with US generally accepted accounting principles (“GAAP”) which contemplates the realization of assets and discharge of liabilities and commitments in the normal course of business. The Company is in the exploration stage. It has not generated operating revenues to date, and has accumulated losses of $52,189,556 since inception. The Company has funded its operations through the issuance of capital stock and debt. In addition to planned exploration programs and ongoing operating costs, the Company has contractual commitments to make acquisition payments of $1,250,000 before February 28, 2014. The Company will also need to repay outstanding convertible debentures if these are not converted – these have maturity dates ranging from February 19, 2014 to April 4, 2014. At August 31, 2013, the Company had cash of $38,205 and a working capital deficit of $5,289,158. Management plans to raise additional funds through equity and/or debt financings. There is no certainty that further funding will be available as needed. These factors raise substantial doubt about the ability of the Company to continue operating as a going concern. The Company’s ability to continue its operations as a going concern, realize the carrying value of its assets, and discharge its liabilities in the normal course of business is dependent upon its ability to raise new capital sufficient to fund its commitments and ongoing losses, and ultimately on generating profitable operations.

EQUIPMENT

EQUIPMENT	6 Months Ended
	Aug. 31, 2013
EQUIPMENT [Text Block]	NOTE 2 – EQUIPMENT
			Equipment
	Cost:
	At August 31, 2013 and February 28, 2013	$	34,527
	Depreciation:
	At February 28, 2013		33,703
	Charge for the period		82
	At August 31, 2013	$	33,785
	Net book value:
	At February 28, 2013	$	824
	At August 31, 2013	$	742

UNPROVEN_MINERAL_PROPERTIES

UNPROVEN MINERAL PROPERTIES

6 Months Ended

Aug. 31, 2013

UNPROVEN MINERAL PROPERTIES [Text Block]

NOTE 3 – UNPROVEN MINERAL PROPERTIES

Holbrook Basin Project

31-Aug-13

Additions

28-Feb-13

Additions

29-Feb-12

Property acquisition costs

Cash paid for property

$

1,600,000

$

-

$

1,600,000

$

300,000

$

1,300,000

$

1,600,000

$

-

$

1,600,000

$

300,000

$

1,300,000

Option payments and exploration costs

Assay

$

309,680

$

26,603

$

283,077

$

209,758

$

73,319

Drilling and related costs

8,757,584

234,390

8,523,194

3,308,785

5,214,409

Geological consulting

2,975,775

484,744

2,491,031

1,177,932

1,313,099

License and filing

474,278

30,602

443,676

344,273

99,403

Option payments

6,362,855

-

6,362,855

3,699,792

2,663,063

Project administration

2,978,465

300,019

2,678,446

783,470

1,894,976

Recovery

(112,668

)

-

(112,668

)

(112,668

)

-

$

21,745,969

$

1,076,358

$

20,669,611

$

9,411,342

$

11,258,269

The Company acquired mineral claims in the Holbrook Basin Project through the following agreements:

Holbrook Basin Property, Arizona

On September 30, 2008, as amended, the Company entered into an option agreement to purchase 100% of certain mining claims located in the Holbrook Basin region of Arizona, USA, for the following considerations:

a)

$100,000 on execution of the agreement (paid);

b)

1,000,000 options (issued with a fair value of $61,152) upon receipt of TSX-V approval of the agreement;

c)

$125,000 ninety days following issuance of a drill permit from the Arizona State Land Department (paid);

d)

250,000 shares on April 1, 2009 (issued with a fair value of $26,988);

e)

2,681,000 shares on October 1, 2009 (issued with a fair value of $217,064);

f)

5,000,000 shares on November 1, 2010 (issued with a fair value of $262,274);

g)

$350,000 six months following TSX-V approval of the issuance of 5,000,000 shares (paid);

h)

Funding of $200,000 in exploration expenditures pursuant to the completion of a NI 43 - 101 technical report (completed);

i)

250,000 shares upon completion of a NI 43 - 101 technical report after drilling (issued with a fair value of $45,595); and

j)

During the year ended February 29, 2012, the Company purchased the 1% Net Smelter Royalty (“NSR”) for $1 million.

The Company now has a 100% interest, with no NSR, in the Holbrook Basin Property.

At August 31, 2013, the Company had a reclamation bond of $15,000 (February 28, 2013: $15,000) for work done on the Holbrook Basin Property.

Twin Butte Ranch, Arizona

A. Twin Butte Ranch

On August 28, 2009, as amended, the Company entered into a four year lease with an option to purchase private deeded land within the Holbrook Basin. Under the terms of the agreement the Company can earn a 100% undivided interest in the deeded land and sub-surface mineral rights by making lease payments totaling $1,250,000 over five and a half years and, upon exercising its option to purchase, by paying $20,000,000 for the entire Twin Butte Ranch including all sub-surface mineral rights except those pertaining to oil and gas, petrified wood and geothermal resources. There are no royalties associated with the sub-surface mineral rights.

Details of the payments under the agreement are as follows:

a)

A payment of $50,000 and $10,000 legal costs on or before November 26, 2009 (paid);

b)

A payment of $25,000 on September 17, 2010 (paid);

c)

A payment of $75,000 on December 1, 2010 (paid);

d)

A payment of $150,000 on August 28, 2011 (paid);

e)

A payment of $200,000 on August 28, 2012 (paid);

f)

A payment of $250,000 on earlier December 1, 2013 or within thirty days of closing a financing of at least $5,000,000 ;

g)

A payment of $250,000 on August 28, 2014; and

h)

A payment of $250,000 on May 1, 2015.

Upon exercising its option to purchase the entire Twin Butte Ranch, the Company must deliver a payment in the amount of $20,000,000 on or before February 5, 2016.

The lease agreement and purchase option will expire on January 6, 2016 or such other time as is mutually acceptable and agreed to in writing by both parties.

Fitzgerald Ranch, Arizona

On May 7, 2012, as amended, the Company entered into an agreement to acquire the Fitzgerald Ranch for $17,000,000 as follows:

a)

A down payment of $500,000 (paid) ($25,000 was expensed in the year ended February 29, 2012, and the remainder is included in long-term deposits);

b)

A payment of $500,000 (paid) upon execution of an amendment to the agreement in November 2012 (included in long-term deposits);

c)

A payment of $500,000 to be paid on the earlier of either October 31, 2013, or within 30 days of closing the Company’s next financing;

d)

A payment of $500,000 to be paid on or before December 31, 2013;

e)

A payment of $1,000,000 to be paid on or before December 31, 2014; and

f)

The balance of $14,000,000 to be paid on the closing of the sale which is on or before June 30, 2015.

American Potash Property, Arizona

On November 12, 2010, the Company entered into an option agreement to acquire 100% of the right, title and interest in exploration permits within the Holbrook basin for the following consideration:

a)

500,000 shares of the Company to be issued on the earlier of December 15, 2010 or within five business days of the TSX-V acceptance date (issued with a fair value of $130,444);

b)

Three cash payments of $30,000 each with 12, 18, and 24 months of the acceptance date ($30,000 paid during the year ended February 29, 2012 and $60,000 paid during the year ended February 28, 2013); and

c)

All taxes assessed against the property and minimum exploration work to keep the claims in good standing.

The Company purchased the 2% NSR during March, 2012 for $300,000.

The Company now has a 100% interest, with no NSR, in the American Potash Property.

Mesa Uranium, Arizona

On August 31, 2010, the Company entered into an agreement to acquire 100% undivided interest in exploration permits within the Holbrook basin for the following consideration:

a)

500,000 shares of the Company upon TSX-V approval (issued with a fair value of $40,625);

b)

$20,000 within 90 days of the completion of next financing after the agreement date (paid);

c)

Minimum exploration expenditures of $19,518 in 2010 as required by the Arizona State Land Department (expended); and

d)

Maximum available assessment work credits or payments in lieu of the minimum requirements to keep the claims in good standing.

Upon completion of all terms above, the Company shall have earned a 75% interest and title of the permits shall be transferred to the Company (Earned). The Company can purchase the remaining 25% interest by paying $100,000 cash, share equivalent or work expenditures (Expended). The property is subject to a 2% NSR and the Company can purchase the NSR at a price of $300,000 for the full 2%. During the year ended February 29, 2012, the Company purchased the 2% NSR for $300,000.

The Company now has a 100% interest, with no NSR, in the Mesa Property.

Ringbolt Property, Arizona

On March 28, 2011 the Company entered into an option agreement to acquire 90% undivided legal and beneficial interest in and to the Ringbolt Property free and clear of all encumbrances in exploration leases for the following consideration:

a)

$50,000 upon execution of the agreement (paid);

b)

$250,000 upon TSX-V approval on May 17, 2011 (paid) and 1,000,000 common shares (issued with a fair value of $669,384);

c)

Minimum exploration expenditures within 1 year of TSX-V approval of $500,000 (completed);

d)

On or before the first anniversary of TSX-V approval $350,000 and 1,400,000 common shares (see below);

e)

Minimum exploration expenditures within first year of first anniversary of TSX-V approval of $750,000 ;

f)

$350,000 upon second anniversary of TSX-V approval and 1,600,000 common shares; and

g)

Minimum exploration expenditures within 1 year of second anniversary of TSX-V approval of $1,000,000.

On completion of all terms above, the Company shall have earned a 90% interest and title of the permits shall be transferred to the Company. Upon exercise of the option agreement, the Company shall be deemed to be granted an option to purchase the remaining 10% interest in the Property for the payment of $5,000,000.

The Company paid a finder’s fee of $25,825 to a third party in connection with this option agreement.

During the year ended February 28, 2013, the Company became the subject to a civil action in the Third Judicial District court, Salt Lake County, State of Utah in connection with the Ringbolt Property option agreement. The optionors were seeking payment of $350,000, 1,400,000 of the Company’s shares and $20,716 in expenses related to the property, alternatively damages of $644,000. The Company did not make the required payment and did not issue the shares to the optionors as it contended that the optionors were in default of the option agreement. The Company counter claimed for specific performance under the option agreement and paid the $350,000 and issued the 1,400,000 shares into the Utah court.

The court ruled that tender to the court was not sufficient; therefore, the cash and shares were released to the optionors on July 10, 2012. The fair value of the 1,400,000 shares was $271,936. The Company deposited a bond in the amount of $350,000 with the Court as security for the preliminary injunction, which was disclosed on the balance sheet as Injunction Bond. Subsequent to February 28, 2013, the amount deposited was refunded to the Company. On September 10, 2012, the court granted the motion for a preliminary injunction, which enjoined the optionors from terminating the Ringbolt option agreement based upon the grounds alleged by the optionors.

On October 30, 2012 the Company entered into an amended option agreement (the “Amendment Agreement”) to acquire 100% undivided legal and beneficial interest in and to the Ringbolt Property, free and clear of all encumbrances in exploration leases, according to the following terms:

1

The Company will pay to the optionors a total of $3,850,000 according to the following schedule:

a)

$150,000 upon execution of the Amendment Agreement (paid);

b)

$2,450,000 upon TSX-V approval (paid); and

c)

$1,250,000 on or before October 31, 2014.

2

The Company will issue 750,000 common shares to the optionors upon TSX-V approval (issued with a fair value of $168,291).

3

Upon written notice from the TSX-V that the Amendment Agreement has been approved, the parties shall simultaneously do the following:

a)

The optionors shall assign all of their right, title, and interest in and to the Ringbolt Property and will take all necessary action with the Arizona State Land Department to effect such assignment (completed); and

b)

The Company will place into escrow on behalf of the optionors the $2,450,000 cash payment and the 750,000 common shares of the Company. The cash payment and shares will be released to the optionors upon receipt of confirmation of the assignment of the Ringbolt Property to the Company (completed).

4

There will be no royalty attached to the transferred permits.

5

Should the Company sell or in any way transfer its interest in the Ringbolt Property, the optionors will receive a bonus payment in accordance with the following schedule:

a)

If the Company receives less than $30 million for the transaction, then no bonus payment shall be payable;

b)

If the Company receives greater than $30 million but less than $40 million the optionors would receive 20% of the gross consideration in excess of $30 million;

c)

If the Company receives greater than $40 million but less than $50 million the optionors would receive $2,000,000 plus 10% of the gross consideration in excess of $40 million, to a maximum of $1,000,000 ; or

d)

If the Company receives greater than $50 million the optionors would receive $3,000,000 plus 20% of the gross consideration received in excess of $50 million.

Based upon the foregoing, the parties have agreed to a mutual release and settlement of any claims and causes of action between the parties as of the date of the Amended Agreement.

On December 8, 2012, the Company entered into a second amendment to the option agreement to acquire 100% of the Ringbolt Property. The amendment stipulates that in the event that the cash payment of $2,450,000 following TSX-V approval of the Amendment Agreement is delayed, the parties agree to extend the payment deadline for a period of 30 days from the date of final approval from the TSX-V with the payment of $100,000 to one of the optionors with this extension payment to be deducted from the $2,450,000 payment due following TSX-V approval. A payment of $100,000 was made to the optionor on December 20, 2012 and the balance of $2,350,000 on February, 28 2013.

Joint Exploration Agreement – HNZ Potash, LLC (“HNZ”)

On July 27, 2012 the Company entered into a Joint Exploration Agreement in which the Company assigned 50% of their interest in twenty-one permitted parcels within the Holbrook Basin Project (from Holbrook Basin Property and Twin Buttes Ranch above) to HNZ. In return, HNZ reimbursed the Company for 50% of mineral exploration costs previously incurred on the permits, ($112,668 received during the year ended February 28, 2013), and the Company will be liable for 50% of the future costs relating to the permits.

CONVERTIBLE_DEBENTURES

CONVERTIBLE DEBENTURES	6 Months Ended
	Aug. 31, 2013
CONVERTIBLE DEBENTURES [Text Block]	NOTE 4 – CONVERTIBLE DEBENTURES
	Issued during the six month period ended August 31, 2013
	Tranche II
	On March 14, 2013, the Company borrowed $285,000 from four lenders by way of convertible debentures (a “Debenture”) having a term until March 14, 2014 (the “Maturity Date”) and bearing interest at 15% per annum which shall accrue and be payable on the earlier of the Maturity Date, or the date the entire principal amount of each Debenture is converted. The principal amount of the Debentures is convertible into shares of common stock of the Company at the option of the holder, in whole or in part, at a price of US$0.19 per share until the Maturity Date. The Debentures are secured by a first ranking floating charge security on all of the Company’s assets.
	In addition each holder of a Debenture received five common share purchase warrants for each US$1.00 of principal amount of the Debenture, entitling the holder to acquire one share of common stock of the Company for each warrant at an exercise price of US$0.19 per share for a period of one year from the date of issuance resulting in the Company issuing 1,425,000 warrants with an exercise price of US$0.19 for one year. The Company determined the fair value of the warrants to be $130,826 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 75%; Risk-free interest rate – 0.97%; Expected life – 1 year.
	The proceeds were allocated to the Debenture and the warrants based on their relative fair values and accordingly, $195,334 was allocated to the Debenture and $89,666 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	In accordance with ASC 470-20 “Debt with Conversion and Other Options”, the Company recognized the value of the embedded beneficial conversion feature of $164,666. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with this private placement of debentures, the Company also incurred filing fee costs of $1,425. Of the total issuance costs incurred, $353 was recorded as deferred debt issuance costs and $1,272 was charged to additional paid-in capital.
	Tranche III
	On April 4, 2013, the Company borrowed $200,000 from two lenders by way of convertible debentures (a “Debenture”) having a term until April 4, 2014 (the “Maturity Date”) and bearing interest at 15% per annum which shall accrue and be payable on the earlier of the Maturity Date, or the date the entire principal amount of each Debenture is converted. The principal amount of the Debentures is convertible into shares of common stock of the Company at the option of the holder, in whole or in part, at a price of US$0.19 per share until the Maturity Date. The Debentures are secured by a first ranking floating charge security on all of the Company’s assets.
	In addition each holder of a Debenture received five common share purchase warrants for each US$1.00 of principal amount of the Debenture, entitling the holder to acquire one share of common stock of the Company for each warrant at an exercise price of US$0.19 per share for a period of one year from the date of issuance resulting in the Company issuing 1,000,000 warrants with an exercise price of US$0.19 for one year. The Company determined the fair value of the warrants to be $62,896 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 75%; Risk-free interest rate – 0.97%; Expected life – 1 year.
	The proceeds were allocated to the Debenture and the warrants based on their relative fair values and accordingly, $152,151 was allocated to the Debenture and $47,849 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	The Company recognized the value of the embedded beneficial conversion feature of $58,375. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with this private placement of debentures, the Company also incurred filing fee costs of $1,070. Of the total issuance costs incurred, $502 was recorded as deferred debt issuance costs and $568 was charged to additional paid-in capital.
	Issued during the year ended February 28, 2013
	Tranche I
	On February 19, 2013, the Company borrowed $5,305,540 from twenty four lenders by way of convertible debentures (a “Debenture”) having a term until February 19, 2014 (the “Maturity Date”) and bearing interest at 15% per annum which shall accrue and be payable on the earlier of the Maturity Date, or the date the entire principal amount of each Debenture is converted. The principal amount of the Debentures is convertible into shares of common stock of the Company at the option of the holder, in whole or in part, at a price of US$0.19 per share until the Maturity Date. The Debentures are secured by a first ranking floating charge security on all of the Company’s assets.
	In addition each holder of a Debenture received five common share purchase warrants for each US$1.00 of principal amount of the Debenture, entitling the holder to acquire one share of common stock of the Company for each warrant at an exercise price of US$0.19 per share for a period of one year from the date of issuance resulting in the Company issuing 26,527,700 warrants with an exercise price of US$0.19 for one year. The Company determined the fair value of the warrants to be $2,049,578 using the Black-Scholes Option Pricing Model with the following assumptions: Expected dividend yield – 0; Expected stock price volatility – 76%; Risk-free interest rate – 1.07%; Expected life – 1 year.
	The proceeds were allocated to the Debenture and the warrants based on their relative fair values and accordingly, $3,827,098 was allocated to the Debenture and $1,478,442 was allocated to the warrants and recorded as a reduction in the liability and an increase in additional paid-in capital.
	The Company recognized the value of the embedded beneficial conversion feature of $2,316,159. This value was recorded as a reduction of the liability and an increase in additional paid-in capital.
	In connection with this private placement of debentures, the Company paid $73,958 in finder’s fees and issued 101,882 finder’s warrants. Each finder’s warrant entitles the holder to purchase one common share for US$0.19 per share for one year from the date of issuance. The fair value of the finder’s warrant portion calculated using the Black-Scholes Option Pricing Model was $5,770, recorded as a Debenture issuance cost. The Company also incurred legal and filing fee costs of $51,528. Of the total issuance costs incurred, $37,380 was recorded as deferred debt issuance costs and $93,876 was charged to additional paid-in capital.
			Six months ended			Year ended
	Convertible Debenture		August 31,			February 28,
			2013			2013
	Balance, beginning	$	1,624,128		$	-
	Subscriptions received		485,000			5,305,540
	Subscriptions allocated to detachable share purchase warrants		(137,515	)		(1,478,442	)
	Intrinsic beneficial conversion feature		(223,041	)		(2,316,159	)
	Exercised – Transfer to Share Capital		(5,000	)		-
	Accretion		2,076,400			93,566
	Interest		432,947			19,623
	Balance, ending	$	4,252,919		$	1,624,128
	The difference between the amount recorded to the Debentures on initial recognition and the value at Maturity will be accreted using the effective interest rate method. During the six month period ended August 31, 2013, $2,076,400 (year ended February 28, 2013 - $93,566), was expensed as a non-cash interest charge.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Aug. 31, 2013
RELATED PARTY TRANSACTIONS [Text Block]	NOTE 5 – RELATED PARTY TRANSACTIONS Related party balances
	The following amounts due to related parties are included in trade payables and accrued liabilities:
			August 31,		February 28,
			2013		2013
	Directors and companies controlled by directors of the Company	$	593,478	$	173,025
		$	593,478	$	173,025
	The following amounts due from related parties are included in amounts receivable:
			August 31,		February 28,
			2013		2013
	Companies controlled by directors of the Company	$	10,613	$	10,890
		$	10,613	$	10,890
	Related party transactions
	The Company incurred the following transactions with directors, officers and companies that are controlled by directors and officers of the Company. The amounts include $368,905 Stock-based compensation issued during the period.
			Six month period ended
			August 31,		August 31,
			2013		2012
	Administration	$	54,266	$	15,401
	Consulting fees		307,070		258,177
	Management fees		412,116		337,044
	Mineral exploration costs		504,034		190,200
		$	1,277,486	$	800,822

COMMON_STOCK

COMMON STOCK	6 Months Ended
	Aug. 31, 2013
COMMON STOCK [Text Block]	NOTE 6 – COMMON STOCK Share Issuances:
	On July 2, 2013 26,315 shares were issued pursuant to $5,000 Convertible Debentures being converted to shares. On March 18, 2013 41,666 warrants were exercised at CDN$0.20 per share for proceeds of US$8,157.
	Stock options
	The Company has adopted an incentive stock option plan, which provides that the Board of Directors of the Company may from time to time, in its discretion, and in accordance with the TSX-V requirements, grant to directors, officers, employees and technical consultants to the Company, non-transferable stock options to purchase common shares, provided that the number of common shares reserved for issuance will not exceed 20% of the Company’s issued and outstanding common shares. Such options will be exercisable for a period of up to 10 years from the date of grant. In connection with the foregoing, the number of common shares reserved for issuance to any one optionee will not exceed five percent ( 5%) of the issued and outstanding common shares and the number of common shares reserved for issuance to all technical consultants will not exceed two percent ( 2%) of the issued and outstanding common shares. Options may be exercised no later than 90 days following cessation of the optionee’s position with the Company or 30 days following cessation of an optionee conducting investor relations activities’ position.
	The changes in options during the six month period ended August 31, 2013 are as follows:
			Six month period ended
			31-Aug-13
						Weighted
						average
						exercise
			Number of			price
			options			(CDN$)
	Options outstanding, February 28, 2013		18,279,892		$	0.31
	Options granted		2,530,000		$	0.18
	Options exercised		-			-
	Options forfeited		(2,476,267	)	$	0.29
	Options outstanding, August 31, 2013		18,333,625		$	0.29
	Options exercisable, August 31, 2013		18,333,625		$	0.29
	At August 31, 2013 the following stock options were outstanding:
	Number of	Exercise price
	Options	CDN$	Expiry date
	145,625	0.1	16-Nov-15
	1,450,000	0.32	10-Jan-16
	5,027,000	0.2	11-Feb-16
	921,500	0.2	3-Mar-16
	1,501,000	0.59	21-Jun-16
	1,490,500	0.42	12-Sep-16
	3,800,000	0.38	20-Jan-17
	1,468,000	0.21	19-Feb-18
	2,530,000	0.21	2-Jul-18
	18,333,625
	The weighted average remaining contractual life of the outstanding stock options is 3.21 years.
	Share purchase warrants
	The following table summarizes the continuity of the Company’s share purchase warrants:
			Number of warrants
	Balance, February 29, 2012		50,800,333
	Issued with private placements		27,751,608
	Exercised		(9,602,701	)
	Expired		(20,364,428	)
	Balance, February 28, 2013		48,584,812
	Issued with debentures		2,425,000
	Exercised		(41,666	)
	Balance, August 31, 2013		50,968,146
	At August 31, 2013 the following share purchase warrants were outstanding:
	Number of	Exercise price		Expiry date
	warrants	CDN$	USD$
	20,791,538	0.2		11-Jan-14
	1,122,026	0.25		19-Feb-18
	26,629,582		0.19	19-Feb-14
	1,425,000		0.19	14-Mar-14
	1,000,000		0.19	4-Apr-14
	50,968,146

DERIVATIVE_LIABILITY

DERIVATIVE LIABILITY	6 Months Ended
	Aug. 31, 2013
DERIVATIVE LIABILITY [Text Block]	NOTE 7 – DERIVATIVE LIABILITY
			Six months ended			Year ended
			August 31,			February 28,
			2013			2013
	Balance, beginning	$	1,619,786		$	6,374,170
	Fair value of warrants issued		-			216,796
	Fair value of warrants exercised		(2,813	)		(751,691	)
	Fair value change of warrants		(1,511,513	)		(4,219,489	)
	Balance, ending	$	105,460		$	1,619,786
	The derivative liability consists of the fair value of share purchase warrants that were issued in unit private placements that have an exercise price in a currency (Canadian dollars) other than the functional currency of the Company. The derivative liability is a non-cash liability and the Company is not required to expend any cash to settle this liability.
	Details of these warrants and their fair values are as follows:
						31-Aug-13				28-Feb-13
			Exercise Price			Number				Number
			($CDN)			Outstanding			Fair Value	Outstanding		Fair Value
	11-Jan-12	$	0.2			20,791,538		$	29,860	20,833,204	$	1,406,500
	19-Feb-13	$	0.25			1,112,499			75,600	1,112,499		213,286
						21,904,037		$	105,460	21,945,703	$	1,619,786

EQUIPMENT_Tables

EQUIPMENT (Tables)	6 Months Ended
	Aug. 31, 2013
Schedule of Property, Plant and Equipment [Table Text Block]
			Equipment
	Cost:
	At August 31, 2013 and February 28, 2013	$	34,527
	Depreciation:
	At February 28, 2013		33,703
	Charge for the period		82
	At August 31, 2013	$	33,785
	Net book value:
	At February 28, 2013	$	824
	At August 31, 2013	$	742

UNPROVEN_MINERAL_PROPERTIES_Ta

UNPROVEN MINERAL PROPERTIES (Tables)	6 Months Ended
	Aug. 31, 2013
Schedule of Unproven Mineral Properties [Table Text Block]
			31-Aug-13			Additions		28-Feb-13			Additions			29-Feb-12
	Property acquisition costs
	Cash paid for property	$	1,600,000		$	-	$	1,600,000		$	300,000		$	1,300,000
		$	1,600,000		$	-	$	1,600,000		$	300,000		$	1,300,000
	Option payments and exploration costs
	Assay	$	309,680		$	26,603	$	283,077		$	209,758		$	73,319
	Drilling and related costs		8,757,584			234,390		8,523,194			3,308,785			5,214,409
	Geological consulting		2,975,775			484,744		2,491,031			1,177,932			1,313,099
	License and filing		474,278			30,602		443,676			344,273			99,403
	Option payments		6,362,855			-		6,362,855			3,699,792			2,663,063
	Project administration		2,978,465			300,019		2,678,446			783,470			1,894,976
	Recovery		(112,668	)		-		(112,668	)		(112,668	)		-
		$	21,745,969		$	1,076,358	$	20,669,611		$	9,411,342		$	11,258,269

CONVERTIBLE_DEBENTURES_Tables

CONVERTIBLE DEBENTURES (Tables)	6 Months Ended
	Aug. 31, 2013
Schedule of Debt [Table Text Block]
			Six months ended			Year ended
	Convertible Debenture		August 31,			February 28,
			2013			2013
	Balance, beginning	$	1,624,128		$	-
	Subscriptions received		485,000			5,305,540
	Subscriptions allocated to detachable share purchase warrants		(137,515	)		(1,478,442	)
	Intrinsic beneficial conversion feature		(223,041	)		(2,316,159	)
	Exercised – Transfer to Share Capital		(5,000	)		-
	Accretion		2,076,400			93,566
	Interest		432,947			19,623
	Balance, ending	$	4,252,919		$	1,624,128

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Aug. 31, 2013
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]
			August 31,		February 28,
			2013		2013
	Directors and companies controlled by directors of the Company	$	593,478	$	173,025
		$	593,478	$	173,025
Schedule of Receivables and Prepaid Expenses [Table Text Block]
			August 31,		February 28,
			2013		2013
	Companies controlled by directors of the Company	$	10,613	$	10,890
		$	10,613	$	10,890
Schedule of Related Party Transactions [Table Text Block]
			Six month period ended
			August 31,		August 31,
			2013		2012
	Administration	$	54,266	$	15,401
	Consulting fees		307,070		258,177
	Management fees		412,116		337,044
	Mineral exploration costs		504,034		190,200
		$	1,277,486	$	800,822

COMMON_STOCK_Tables

COMMON STOCK (Tables)	6 Months Ended
	Aug. 31, 2013
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
			Six month period ended
			31-Aug-13
						Weighted
						average
						exercise
			Number of			price
			options			(CDN$)
	Options outstanding, February 28, 2013		18,279,892		$	0.31
	Options granted		2,530,000		$	0.18
	Options exercised		-			-
	Options forfeited		(2,476,267	)	$	0.29
	Options outstanding, August 31, 2013		18,333,625		$	0.29
	Options exercisable, August 31, 2013		18,333,625		$	0.29
Disclosure of Share Based Compensation Arrangements by Share Based Payment Award and Warrants Or Rights [Table Text Block]
	Number of	Exercise price
	Options	CDN$	Expiry date
	145,625	0.1	16-Nov-15
	1,450,000	0.32	10-Jan-16
	5,027,000	0.2	11-Feb-16
	921,500	0.2	3-Mar-16
	1,501,000	0.59	21-Jun-16
	1,490,500	0.42	12-Sep-16
	3,800,000	0.38	20-Jan-17
	1,468,000	0.21	19-Feb-18
	2,530,000	0.21	2-Jul-18
	18,333,625
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block]
			Number of warrants
	Balance, February 29, 2012		50,800,333
	Issued with private placements		27,751,608
	Exercised		(9,602,701	)
	Expired		(20,364,428	)
	Balance, February 28, 2013		48,584,812
	Issued with debentures		2,425,000
	Exercised		(41,666	)
	Balance, August 31, 2013		50,968,146
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
	Number of	Exercise price		Expiry date
	warrants	CDN$	USD$
	20,791,538	0.2		11-Jan-14
	1,122,026	0.25		19-Feb-18
	26,629,582		0.19	19-Feb-14
	1,425,000		0.19	14-Mar-14
	1,000,000		0.19	4-Apr-14
	50,968,146

DERIVATIVE_LIABILITY_Tables

DERIVATIVE LIABILITY (Tables)	6 Months Ended
	Aug. 31, 2013
Schedule of Derivative Liabilities at Fair Value [Table Text Block]
			Six months ended			Year ended
			August 31,			February 28,
			2013			2013
	Balance, beginning	$	1,619,786		$	6,374,170
	Fair value of warrants issued		-			216,796
	Fair value of warrants exercised		(2,813	)		(751,691	)
	Fair value change of warrants		(1,511,513	)		(4,219,489	)
	Balance, ending	$	105,460		$	1,619,786
Schedule of Fair Value of Warrants [Table Text Block]
						31-Aug-13				28-Feb-13
			Exercise Price			Number				Number
			($CDN)			Outstanding			Fair Value	Outstanding		Fair Value
	11-Jan-12	$	0.2			20,791,538		$	29,860	20,833,204	$	1,406,500
	19-Feb-13	$	0.25			1,112,499			75,600	1,112,499		213,286
						21,904,037		$	105,460	21,945,703	$	1,619,786

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Organization And Basis Of Presentation 1	$52,189,556
Organization And Basis Of Presentation 2	1,250,000
Organization And Basis Of Presentation 3	38,205
Organization And Basis Of Presentation 4	$5,289,158

UNPROVEN_MINERAL_PROPERTIES_Na

UNPROVEN MINERAL PROPERTIES (Narrative) (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
	D
	M
	Y
Unproven Mineral Properties 1	100.00%
Unproven Mineral Properties 2	$100,000
Unproven Mineral Properties 3	1,000,000
Unproven Mineral Properties 4	61,152
Unproven Mineral Properties 5	125,000
Unproven Mineral Properties 6	250,000
Unproven Mineral Properties 7	26,988
Unproven Mineral Properties 8	2,681,000
Unproven Mineral Properties 9	217,064
Unproven Mineral Properties 10	5,000,000
Unproven Mineral Properties 11	262,274
Unproven Mineral Properties 12	350,000
Unproven Mineral Properties 13	5,000,000
Unproven Mineral Properties 14	200,000
Unproven Mineral Properties 17	250,000
Unproven Mineral Properties 20	45,595
Unproven Mineral Properties 21	1.00%
Unproven Mineral Properties 22	1,000,000
Unproven Mineral Properties 23	100.00%
Unproven Mineral Properties 24	15,000
Unproven Mineral Properties 25	15,000
Unproven Mineral Properties 26	100.00%
Unproven Mineral Properties 27	1,250,000
Unproven Mineral Properties 28	20,000,000
Unproven Mineral Properties 29	50,000
Unproven Mineral Properties 30	10,000
Unproven Mineral Properties 31	25,000
Unproven Mineral Properties 32	75,000
Unproven Mineral Properties 33	150,000
Unproven Mineral Properties 34	200,000
Unproven Mineral Properties 35	250,000
Unproven Mineral Properties 36	5,000,000
Unproven Mineral Properties 37	250,000
Unproven Mineral Properties 38	250,000
Unproven Mineral Properties 39	20,000,000
Unproven Mineral Properties 40	17,000,000
Unproven Mineral Properties 41	500,000
Unproven Mineral Properties 42	25,000
Unproven Mineral Properties 43	500,000
Unproven Mineral Properties 44	500,000
Unproven Mineral Properties 45	30
Unproven Mineral Properties 46	500,000
Unproven Mineral Properties 47	1,000,000
Unproven Mineral Properties 48	14,000,000
Unproven Mineral Properties 49	100.00%
Unproven Mineral Properties 50	500,000
Unproven Mineral Properties 51	130,444
Unproven Mineral Properties 52	30,000
Unproven Mineral Properties 53	12
Unproven Mineral Properties 54	18
Unproven Mineral Properties 55	24
Unproven Mineral Properties 56	30,000
Unproven Mineral Properties 57	60,000
Unproven Mineral Properties 58	2.00%
Unproven Mineral Properties 59	300,000
Unproven Mineral Properties 60	100.00%
Unproven Mineral Properties 61	100.00%
Unproven Mineral Properties 62	500,000
Unproven Mineral Properties 63	40,625
Unproven Mineral Properties 64	20,000
Unproven Mineral Properties 65	90
Unproven Mineral Properties 66	19,518
Unproven Mineral Properties 67	75.00%
Unproven Mineral Properties 68	25.00%
Unproven Mineral Properties 69	100,000
Unproven Mineral Properties 70	2.00%
Unproven Mineral Properties 71	300,000
Unproven Mineral Properties 72	2.00%
Unproven Mineral Properties 73	2.00%
Unproven Mineral Properties 74	300,000
Unproven Mineral Properties 75	100.00%
Unproven Mineral Properties 76	90.00%
Unproven Mineral Properties 77	50,000
Unproven Mineral Properties 78	250,000
Unproven Mineral Properties 79	1,000,000
Unproven Mineral Properties 80	669,384
Unproven Mineral Properties 81	1
Unproven Mineral Properties 82	500,000
Unproven Mineral Properties 83	350,000
Unproven Mineral Properties 84	1,400,000
Unproven Mineral Properties 85	750,000
Unproven Mineral Properties 86	350,000
Unproven Mineral Properties 87	1,600,000
Unproven Mineral Properties 88	1
Unproven Mineral Properties 89	1,000,000
Unproven Mineral Properties 90	90.00%
Unproven Mineral Properties 91	10.00%
Unproven Mineral Properties 92	5,000,000
Unproven Mineral Properties 93	25,825
Unproven Mineral Properties 94	350,000
Unproven Mineral Properties 95	1,400,000
Unproven Mineral Properties 96	20,716
Unproven Mineral Properties 97	644,000
Unproven Mineral Properties 98	350,000
Unproven Mineral Properties 99	1,400,000
Unproven Mineral Properties 100	1,400,000
Unproven Mineral Properties 101	271,936
Unproven Mineral Properties 102	350,000
Unproven Mineral Properties 103	100.00%
Unproven Mineral Properties 104	3,850,000
Unproven Mineral Properties 105	150,000
Unproven Mineral Properties 106	2,450,000
Unproven Mineral Properties 107	1,250,000
Unproven Mineral Properties 108	750,000
Unproven Mineral Properties 109	168,291
Unproven Mineral Properties 110	2,450,000
Unproven Mineral Properties 111	750,000
Unproven Mineral Properties 112	30,000,000
Unproven Mineral Properties 113	30,000,000
Unproven Mineral Properties 114	40,000,000
Unproven Mineral Properties 115	20.00%
Unproven Mineral Properties 116	30,000,000
Unproven Mineral Properties 117	40,000,000
Unproven Mineral Properties 118	50,000,000
Unproven Mineral Properties 119	2,000,000
Unproven Mineral Properties 120	10.00%
Unproven Mineral Properties 121	40,000,000
Unproven Mineral Properties 122	1,000,000
Unproven Mineral Properties 123	50,000,000
Unproven Mineral Properties 124	3,000,000
Unproven Mineral Properties 125	20.00%
Unproven Mineral Properties 126	50,000,000
Unproven Mineral Properties 127	100.00%
Unproven Mineral Properties 128	2,450,000
Unproven Mineral Properties 129	30
Unproven Mineral Properties 130	100,000
Unproven Mineral Properties 131	2,450,000
Unproven Mineral Properties 132	100,000
Unproven Mineral Properties 133	2,350,000
Unproven Mineral Properties 134	50.00%
Unproven Mineral Properties 135	50.00%
Unproven Mineral Properties 136	$112,668
Unproven Mineral Properties 137	50.00%

CONVERTIBLE_DEBENTURES_Narrati

CONVERTIBLE DEBENTURES (Narrative) (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
	Y
Convertible Debentures 1	$285,000
Convertible Debentures 2	15.00%
Convertible Debentures 3	$0.19
Convertible Debentures 4	1
Convertible Debentures 5	$0.19
Convertible Debentures 6	1,425,000
Convertible Debentures 7	0.19
Convertible Debentures 8	130,826
Convertible Debentures 9	75.00%
Convertible Debentures 10	0.97%
Convertible Debentures 11	1
Convertible Debentures 12	195,334
Convertible Debentures 13	89,666
Convertible Debentures 14	164,666
Convertible Debentures 15	1,425
Convertible Debentures 16	353
Convertible Debentures 17	1,272
Convertible Debentures 18	200,000
Convertible Debentures 19	15.00%
Convertible Debentures 20	$0.19
Convertible Debentures 21	1
Convertible Debentures 22	$0.19
Convertible Debentures 23	1,000,000
Convertible Debentures 24	0.19
Convertible Debentures 25	62,896
Convertible Debentures 26	75.00%
Convertible Debentures 27	0.97%
Convertible Debentures 28	1
Convertible Debentures 29	152,151
Convertible Debentures 30	47,849
Convertible Debentures 31	58,375
Convertible Debentures 32	1,070
Convertible Debentures 33	502
Convertible Debentures 34	568
Convertible Debentures 35	5,305,540
Convertible Debentures 36	15.00%
Convertible Debentures 37	$0.19
Convertible Debentures 38	1
Convertible Debentures 39	$0.19
Convertible Debentures 40	26,527,700
Convertible Debentures 41	0.19
Convertible Debentures 42	2,049,578
Convertible Debentures 43	76.00%
Convertible Debentures 44	1.07%
Convertible Debentures 45	1
Convertible Debentures 46	3,827,098
Convertible Debentures 47	1,478,442
Convertible Debentures 48	2,316,159
Convertible Debentures 49	73,958
Convertible Debentures 50	101,882
Convertible Debentures 51	$0.19
Convertible Debentures 52	5,770
Convertible Debentures 53	51,528
Convertible Debentures 54	37,380
Convertible Debentures 55	93,876
Convertible Debentures 56	2,076,400
Convertible Debentures 57	$93,566

RELATED_PARTY_TRANSACTIONS_Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Related Party Transactions 1	$368,905

COMMON_STOCK_Narrative_Details

COMMON STOCK (Narrative) (Details)	6 Months Ended
	Aug. 31, 2013	Aug. 31, 2013
	USD ($)	CAD
	Y
	D
Common Stock 1	26,315	26,315
Common Stock 2	$5,000
Common Stock 3	41,666	41,666
Common Stock 4		0.2
Common Stock 5	$8,157
Common Stock 6	20.00%	20.00%
Common Stock 7	10	10
Common Stock 8	5.00%	5.00%
Common Stock 9	2.00%	2.00%
Common Stock 10	90	90
Common Stock 11	30	30
Common Stock 12	3.21	3.21

Schedule_of_Property_Plant_and

Schedule of Property, Plant and Equipment (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Equipment Schedule Of Property, Plant And Equipment 1	$34,527
Equipment Schedule Of Property, Plant And Equipment 2	33,703
Equipment Schedule Of Property, Plant And Equipment 3	82
Equipment Schedule Of Property, Plant And Equipment 4	33,785
Equipment Schedule Of Property, Plant And Equipment 5	824
Equipment Schedule Of Property, Plant And Equipment 6	$742

Schedule_of_Unproven_Mineral_P

Schedule of Unproven Mineral Properties (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 1	$1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 2	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 3	1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 4	300,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 5	1,300,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 6	1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 7	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 8	1,600,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 9	300,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 10	1,300,000
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 11	309,680
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 12	26,603
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 13	283,077
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 14	209,758
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 15	73,319
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 16	8,757,584
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 17	234,390
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 18	8,523,194
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 19	3,308,785
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 20	5,214,409
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 21	2,975,775
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 22	484,744
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 23	2,491,031
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 24	1,177,932
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 25	1,313,099
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 26	474,278
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 27	30,602
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 28	443,676
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 29	344,273
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 30	99,403
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 31	6,362,855
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 32	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 33	6,362,855
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 34	3,699,792
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 35	2,663,063
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 36	2,978,465
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 37	300,019
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 38	2,678,446
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 39	783,470
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 40	1,894,976
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 41	-112,668
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 42	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 43	-112,668
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 44	-112,668
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 45	0
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 46	21,745,969
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 47	1,076,358
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 48	20,669,611
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 49	9,411,342
Unproven Mineral Properties Schedule Of Unproven Mineral Properties 50	$11,258,269

Schedule_of_Debt_Details

Schedule of Debt (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Convertible Debentures Schedule Of Debt 1	$1,624,128
Convertible Debentures Schedule Of Debt 2	0
Convertible Debentures Schedule Of Debt 3	485,000
Convertible Debentures Schedule Of Debt 4	5,305,540
Convertible Debentures Schedule Of Debt 5	-137,515
Convertible Debentures Schedule Of Debt 6	-1,478,442
Convertible Debentures Schedule Of Debt 7	-223,041
Convertible Debentures Schedule Of Debt 8	-2,316,159
Convertible Debentures Schedule Of Debt 9	-5,000
Convertible Debentures Schedule Of Debt 10	0
Convertible Debentures Schedule Of Debt 11	2,076,400
Convertible Debentures Schedule Of Debt 12	93,566
Convertible Debentures Schedule Of Debt 13	432,947
Convertible Debentures Schedule Of Debt 14	19,623
Convertible Debentures Schedule Of Debt 15	4,252,919
Convertible Debentures Schedule Of Debt 16	$1,624,128

Schedule_of_Accounts_Payable_a

Schedule of Accounts Payable and Accrued Liabilities (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Related Party Transactions Schedule Of Accounts Payable And Accrued Liabilities 1	$593,478
Related Party Transactions Schedule Of Accounts Payable And Accrued Liabilities 2	173,025
Related Party Transactions Schedule Of Accounts Payable And Accrued Liabilities 3	593,478
Related Party Transactions Schedule Of Accounts Payable And Accrued Liabilities 4	$173,025

Schedule_of_Receivables_and_Pr

Schedule of Receivables and Prepaid Expenses (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 1	$10,613
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 2	10,890
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 3	10,613
Related Party Transactions Schedule Of Receivables And Prepaid Expenses 4	$10,890

Schedule_of_Related_Party_Tran

Schedule of Related Party Transactions (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Related Party Transactions Schedule Of Related Party Transactions 1	$54,266
Related Party Transactions Schedule Of Related Party Transactions 2	15,401
Related Party Transactions Schedule Of Related Party Transactions 3	307,070
Related Party Transactions Schedule Of Related Party Transactions 4	258,177
Related Party Transactions Schedule Of Related Party Transactions 5	412,116
Related Party Transactions Schedule Of Related Party Transactions 6	337,044
Related Party Transactions Schedule Of Related Party Transactions 7	504,034
Related Party Transactions Schedule Of Related Party Transactions 8	190,200
Related Party Transactions Schedule Of Related Party Transactions 9	1,277,486
Related Party Transactions Schedule Of Related Party Transactions 10	$800,822

Schedule_of_Sharebased_Compens

Schedule of Share-based Compensation, Stock Options, Activity (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 1	$18,279,892
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 2	0.31
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 3	2,530,000
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 4	0.18
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 5	0
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 6	0
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 7	-2,476,267
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 8	0.29
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 9	18,333,625
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 10	0.29
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 11	$18,333,625
Common Stock Schedule Of Share-based Compensation, Stock Options, Activity 12	0.29

Disclosure_of_Share_Based_Comp

Disclosure of Share Based Compensation Arrangements by Share Based Payment Award and Warrants Or Rights (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 1	$145,625
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 2	0.1
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 3	1,450,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 4	0.32
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 5	5,027,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 6	0.2
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 7	921,500
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 8	0.2
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 9	1,501,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 10	0.59
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 11	1,490,500
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 12	0.42
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 13	3,800,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 14	0.38
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 15	1,468,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 16	0.21
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 17	2,530,000
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 18	0.21
Common Stock Disclosure Of Share Based Compensation Arrangements By Share Based Payment Award And Warrants Or Rights 19	$18,333,625

Schedule_of_Stockholders_Equit

Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1	$50,800,333
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2	27,751,608
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3	-9,602,701
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4	-20,364,428
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5	48,584,812
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6	2,425,000
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7	-41,666
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8	$50,968,146

Schedule_of_Stockholders_Equit1

Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 1	$20,791,538
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 2	0.2
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 3	1,122,026
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 4	0.25
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 5	26,629,582
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 6	0.19
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 7	1,425,000
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 8	0.19
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 9	1,000,000
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 10	0.19
Common Stock Schedule Of Stockholders' Equity Note, Warrants Or Rights 11	$50,968,146

Schedule_of_Derivative_Liabili

Schedule of Derivative Liabilities at Fair Value (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 1	$1,619,786
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 2	6,374,170
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 3	0
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 4	216,796
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 5	-2,813
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 6	-751,691
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 7	-1,511,513
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 8	-4,219,489
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 9	105,460
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 10	$1,619,786

Schedule_of_Fair_Value_of_Warr

Schedule of Fair Value of Warrants (Details) (USD $)	6 Months Ended
	Aug. 31, 2013
Derivative Liability Schedule Of Fair Value Of Warrants 1	0.2
Derivative Liability Schedule Of Fair Value Of Warrants 2	$20,791,538
Derivative Liability Schedule Of Fair Value Of Warrants 3	29,860
Derivative Liability Schedule Of Fair Value Of Warrants 4	20,833,204
Derivative Liability Schedule Of Fair Value Of Warrants 5	1,406,500
Derivative Liability Schedule Of Fair Value Of Warrants 6	0.25
Derivative Liability Schedule Of Fair Value Of Warrants 7	1,112,499
Derivative Liability Schedule Of Fair Value Of Warrants 8	75,600
Derivative Liability Schedule Of Fair Value Of Warrants 9	1,112,499
Derivative Liability Schedule Of Fair Value Of Warrants 10	213,286
Derivative Liability Schedule Of Fair Value Of Warrants 11	21,904,037
Derivative Liability Schedule Of Fair Value Of Warrants 12	105,460
Derivative Liability Schedule Of Fair Value Of Warrants 13	21,945,703
Derivative Liability Schedule Of Fair Value Of Warrants 14	$1,619,786