Western Uranium & Vanadium (WSTRF) 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 11, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Western Uranium Corp
Trading Symbol	WUC
Entity Central Index Key	1,621,906
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		19,574,709

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 415,288	$ 791,814
Prepaid expenses	142,139	80,734
Marketable securities	3,079	2,976
Restricted cash	215,976	215,976
Other current assets	51,921	22,047
Total current assets	828,403	1,113,547
Restricted cash	820,357	820,357
Mineral properties	11,645,218	11,645,218
Ablation intellectual property	9,488,051	9,488,051
Total assets	22,782,029	23,067,173
Current liabilities:
Accounts payable and accrued liabilities	652,071	769,907
Reclamation liability, current	215,976	215,976
Current portion of notes payable		183,125
Total current liabilities	868,047	1,169,008
Reclamation liability	191,690	187,663
Deferred tax liability	4,063,330	4,063,330
Deferred contingent consideration, non current	383,900	372,000
Notes payable, net of discount and current portion	477,735	468,368
Total liabilities	5,984,702	6,260,369
Commitments
Shareholders' Equity
Common stock, no par value, unlimited authorized shares, 19,574,709 and 18,886,497 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	21,958,058	20,927,360
Subscription receivable		(28,429)
Accumulated deficit	(5,204,880)	(4,125,855)
Accumulated other comprehensive income	44,149	33,728
Total shareholders' equity	16,797,327	16,806,804
Total liabilities and shareholders' equity	$ 22,782,029	$ 23,067,173

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, no par value
Common stock, shares authorized	Unlimited	Unlimited
Common stock, shares issued	19,574,709	18,886,497
Common stock, shares outstanding	19,574,709	18,886,497

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations and Other Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Expenses
Mining expenditures	$ 38,636	$ 118,737	$ 79,254	$ 212,087
Professional fees	149,889	290,985	375,383	326,092
General and administrative	157,326	137,846	383,513	174,103
Consulting fees	117,368	113,999	202,131	156,869
Unrealized foreign exchange gain		(128,000)		(128,000)
Loss from operations	(463,219)	(533,567)	(1,040,281)	(741,151)
Interest expense, net	10,580	217,185	38,744	237,265
Net loss	(473,799)	(750,752)	(1,079,025)	(978,416)
Other comprehensive loss
Foreign exchange gain (loss)	2,857	(22,528)	10,421	(53,784)
Comprehensive loss	$ (470,942)	$ (773,280)	$ (1,068,604)	$ (1,032,200)
Loss per share - basic and diluted	$ (0.02)	$ (0.05)	$ (0.06)	$ (0.06)
Weighted average shares outstanding, basic and diluted	19,574,709	16,621,904	19,253,245	16,474,603

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Shareholders' Equity - 6 months ended Jun. 30, 2017 - USD ($)	Total	Common Shares	Subscription Receivable	Accumulated Deficit	Accumulated Other Comprehensive Income
Balance at Dec. 31, 2016	$ 16,806,804	$ 20,927,360	$ (28,429)	$ (4,125,855)	$ 33,728
Balance, Shares at Dec. 31, 2016		18,886,497
Issuance of shares to vendors and consultants	83,338	$ 83,338
Issuance of shares to vendors and consultants, shares		53,788
Receipt of subscription receivable	28,429		28,429
Sale of 634,424 units on March 31, 2017 in private placement	814,078	$ 814,078
Sale of 634,424 units on March 31, 2017 in private placement, Shares		634,424
Stock based compensation - stock options	133,282	$ 133,282
Foreign exchange loss	10,421				10,421
Net loss for the six months ended June 30, 2017	(1,079,025)			(1,079,025)
Balance at Jun. 30, 2017	$ 16,797,327	$ 21,958,058		$ (5,204,880)	$ 44,149
Balance, Shares at Jun. 30, 2017		19,574,709

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Shareholders' Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2017shares
Private placement
Proceeds from issuance private placement, share	634,424

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows From Operating Activities:
Net loss	$ (1,079,025)	$ (978,416)
Reconciliation of net loss to cash used in operating activities:
Accretion of reclamation liability	4,027	180,414
Amortization of debt discount on notes payable	11,806	58,296
Stock based compensation	133,282
Change in foreign exchange on marketable securities	(103)	(196)
Change in operating assets and liabilities:
Prepaid expenses and other current assets	(91,279)	68,539
Deferred contingent consideration		(128,000)
Accounts payable and accrued liabilities	(34,498)	20,418
Net cash used in operating activities	(1,055,790)	(778,945)
Cash Flows From Financing Activities:
Payment of Nueco Note	(185,564)
Payment of Siebels Note		(100,000)
Proceeds from the sale of common stock in private placements, net of offering costs		640,410
Proceeds from Siebels Note		100,000
Issuance of Common shares, net of offering costs	814,078
Receipt of subscription receivable	28,429
Net cash provided by financing activities	656,943	640,410
Effect of foreign exchange rate on cash	22,321	(53,784)
Net decrease in cash	(376,526)	(192,319)
Cash - beginning	791,814	214,482
Cash - ending	415,288	22,163
Cash paid during the period for:
Interest		3,000
Non-cash financing activities:
Shares issued from subscription payable		198,298
Exchange of mortgage payable for land & buildings		1,051,000
Shares issued for accounts payable and accrued expenses	$ 83,338

Business

Business	6 Months Ended
	Jun. 30, 2017
Business [Abstract]
BUSINESS	NOTE 1 - BUSINESS Nature of operations Western Uranium Corporation (“Western” or the “Company”) was incorporated in December 2006 under the Ontario Business Corporations Act. On November 20, 2014, the Company completed a listing process on the Canadian Securities Exchange (“CSE”). As part of that process, the Company acquired 100% of the members’ interests of Pinon Ridge Mining LLC (“PRM”), a Delaware limited liability company. The transaction constituted a reverse takeover (“RTO”) of Western by PRM. Subsequent to obtaining appropriate shareholder approvals, the Company reconstituted its Board of Directors and senior management team. Effective September 16, 2015, Western completed its acquisition of Black Range Minerals Limited (“Black Range”). The Company has registered offices at 8 King Street East, Suite 100, Toronto, Ontario, Canada, M5C 1B5 and its common shares are listed on the CSE under the symbol “WUC” and traded on the OTCQX Best Market. Its principal business activity is the acquisition and development of uranium resource properties in the states of Utah and Colorado in the United States of America (“United States”).

Liquidity and Going Concern

Liquidity and Going Concern	6 Months Ended
	Jun. 30, 2017
Liquidity and Going Concern [Abstract]
LIQUIDITY AND GOING CONCERN	NOTE 2 - LIQUIDITY AND GOING CONCERN The Company has incurred continuing losses from its operations and as of June 30, 2017, the Company had an accumulated deficit of $5,204,880 and working capital deficit of $39,644. Since inception, the Company has met its liquidity requirements principally through the issuance of notes and the sale of its shares of common stock. The Company’s ability to continue its operations and to pay its obligations when they become due is contingent upon the Company obtaining additional financing. Management’s plans include seeking to procure additional funds through debt and equity financings, to secure regulatory approval to fully utilize its ablation technology and to initiate the processing of ore to generate operating cash flows. There are no assurances that the Company will be able to raise capital on terms acceptable to the Company or at all, or that cash flows generated from its operations will be sufficient to meet its current operating costs and required debt service. If the Company is unable to obtain sufficient amounts of additional capital, it may be required to reduce the scope of its planned product development, which could harm its financial condition and operating results, or it may not be able to continue to fund its ongoing operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. On March 31, 2017, the Company completed a private placement of 634,424 units at a price of CAD $1.75 (USD $1.32) per unit for gross proceeds of CAD $1,110,242 (USD $834,252) and net proceeds of CAD $1,083,415 (USD $814,078). Each unit consisted of one share of the Company’s common stock and a warrant for the purchase of one share of the Company’s common stock. Each warrant is immediately exercisable at a price of CAD $3.25 and expires five years from the date of issuance. The Company also issued broker warrants to purchase 11,108 shares of common stock at a price of CAD $3.25 per share, which expire two years from the date of issuance.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three months and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2016 and related notes thereto which were included in the Company’s Form 10-K filed with the Securities and Exchange Commission on March 31, 2017. The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corporation (Utah), PRM, Black Range, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation. The Company has established the existence of mineralized materials for certain uranium projects. The Company has not established proven or probable reserves, as defined by the United States Securities and Exchange Commission (the “SEC”) under Industry Guide 7, through the completion of a “final” or “bankable” feasibility study for any of its uranium projects. Use of Estimates The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the periods reported. By their nature, these estimates are subject to measurement uncertainty and the effects on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include determining the fair value of transactions involving common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, and the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates. Foreign Currency Translation The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent (Western Uranium Corporation (Ontario)) is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive income (loss) in the condensed consolidated balance sheets. Fair Values of Financial Instruments The fair value of financial instruments in the Company’s condensed consolidated financial statements as of June 30, 2017 and December 31, 2016 are as follows: Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) Significant Unobservable Inputs (Level 3) Marketable securities as of June 30, 2017 $ 3,079 $ - $ - Marketable securities as of December 31, 2016 $ 2,976 $ - $ - Loss per Share Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic net loss per share for the three and six months ended June 30, 2017 and 2016 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted. Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive. For the Three and Six Months 2017 2016 Warrants to purchase shares of common stock 3,341,572 566,356 Options to purchase shares of common stock 1,346,996 271,996 Total potentially dilutive securities 4,688,568 838,352

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Recent Accounting Pronouncements [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 4 - RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers” (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition,” and most industry-specific guidance. ASU No. 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments, and assets recognized from costs incurred to obtain or fulfill a contract. The amendments in the ASU must be applied using one of two retrospective methods and are effective for annual and interim periods beginning after December 15, 2016. On July 9, 2015, the FASB modified ASU 2014-09 to be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. As modified, the FASB permits the adoption of the new revenue standard early, but not before the annual periods beginning after December 15, 2016. A public organization would apply the new revenue standard to all interim reporting periods within the year of adoption. The Company does not yet have revenues. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. On February 25, 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This update will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. The provisions of this update are effective for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718)”. This update requires that all excess tax benefits and tax deficiencies arising from share-based payment awards should be recognized as income tax expense or benefit on the income statement. The amendment also states that excess tax benefits should be classified along with other income tax cash flows as an operating activity. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards expected to vest or account for forfeitures as they occur. The provisions of this update are effective for annual and interim periods beginning after December 15, 2016. The Company has determined that the adoption of this standard did not have a material impact on its consolidated financial statements. The Company has adopted this standard for the period beginning January 1, 2017. In April 2016, the FASB issued ASU No. 2016-10 “Revenue from Contracts with Customers (Topic 606)”, “Identifying Performance Obligations and Licensing” (“ASU 2016-10”). ASU 2016-10 clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company will evaluate the effects, if any, that adoption of this guidance will have on its consolidated financial statements. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. In May 2016, the FASB issued Topic ASU No. 2016-12 “Revenue from Contracts with Customers (Topic 606)”, “Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”). The core principal of ASU 2016-12 is the recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. In June 2016 the FASB issued Topic ASU No. 2016-13 “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326)” (“ASU 2016-13”). ASU 2016-13 changes the impairment model for most financial assets. The new model uses a forward-looking expected loss method, which will generally result in earlier recognition of allowances for losses. ASU 2016-13 is effective for annual and interim periods beginning after December 15, 2019 and early adoption is permitted for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. In August 2016 the FASB issued Topic ASU No. 2016-15 “Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 clarifies diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The update to the standard is effective for the Company beginning January 1, 2018, with early application permitted. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 amends the classification and presentation of changes in restricted cash or restricted cash equivalents in the statement of cash flows. ASU 2016-18 is effective for the Company’s fiscal year beginning January 1, 2018. Early adoption is permitted. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. In December 2016, the FASB issued ASU No.2016-19, “Technical Corrections and Improvements”, to clarify the codification, correct unintended application of guidance, or make minor improvements to the accounting standards codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. For public companies, the standard is effectively immediately for amendments that do not have transition guidance. Amendments that are subject to transition guidance, the effective date is interim and annual reporting periods beginning after December 15, 2016. The Company adopted the standard immediately upon issuance for amendments that do not have transition guidance. The adoption of the standard did not have an impact on the Company’s consolidated financial statements. In December 2016, the FASB issued ASU No. 2016-20. “Technical Corrections and Improvements to Topic 606. Revenue from Contracts with Customers”. This update is a comprehensive revenue recognition standard that applies to all entities that have contracts with customers, except for those that fall within the scope of other standards, such as insurance contracts. The amendment also clarifies narrow aspects of ASC 606 or corrects unintended application of the guidance. The Company has determined that the adoption of this standard will not have a material impact on its consolidated financial statements. The update is now effective for interim and annual reporting periods beginning after December 15, 2017. In January 2017, the FASB issued ASU No. 2017-01. “Business Combinations (Topic 805):, Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 provides a more robust framework to use in determining when a set of assets and activities is a business. Also the amendments provide more consistency in applying the guidance, reducing the costs of application, and make the definition of a business more operable. The guidance is effective for public companies for annual periods beginning after December 15, 2017, including interim periods within those periods. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position and results of operations. In January 2017, the FASB issued ASU No. 2017-04. “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The ASU is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. ASU No. 2017-04 will be effective for the Company as of January 1, 2020. The Company is currently evaluating the impact that the adoption of this ASU will have on the Company’s consolidated financial statements and whether it may be early adopted prior to the effective date. In May 2017, the FASB issued ASU No. 2017-09. “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting. The guidance provides clarity and reduces both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation – Stock Compensation, to a change to the terms or conditions of a share-based payment award. The ASU is effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this ASU will have on the Company’s consolidated financial statements.

Mineral Properties and Ablation

Mineral Properties and Ablation Intellectual Property	6 Months Ended
	Jun. 30, 2017
Mineral Properties and Ablation Intellectual Property [Abstract]
MINERAL PROPERTIES AND ABLATION INTELLECTUAL PROPERTY	NOTE 5 - MINERAL PROPERTIES AND ABLATION INTELLECTUAL PROPERTY The Company’s mining properties acquired on August 18, 2014, include: San Rafael Uranium Project located in Emery County, Utah; The Sunday Mine Complex located in western San Miguel County, Colorado; The Van 4 Mine located in western Montrose County, Colorado; The Yellow Cat Project located in eastern Grand County, Utah; The Farmer Girl Mine project located in Montrose County, Colorado; The Sage Mine project located in San Juan County, Utah, and San Miguel County, Colorado. These mining properties include leased land in the states of Colorado and Utah. None of these mining properties were operational at the date of acquisition. The Company’s mining properties acquired on September 16, 2015, include Hansen, North Hansen, High Park, Hansen Picnic Tree, Taylor Ranch, Boyer Ranch, located in Fremont County, Colorado. The Company also acquired Jonesville Coal located in Palmer Recording District, Alaska and Keota located in Weld County, Wyoming. These mining assets include both owned and leased land in the states of Utah, Colorado, Wyoming, and Alaska. All of the mining assets represent properties which have previously been mined to different degrees for uranium. As the Company has not formally established proven or probable reserves on any of its properties, there is inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated. On February 16, 2017, the Company’s Boyer Ranch lease reached its expiration date and the Company elected not to renew the lease. The forfeiture of this lease has no material adverse impact on the fair value of the Company’s mineral properties. On September 16, 2015, in connection with the Company’s acquisition of Black Range, the Company assumed an option and exploration agreement (the “Option and Exploration Agreement”) with STB Minerals, LLC, a Colorado limited liability company (“STB”). The Option and Exploration Agreement gives the Company the right to purchase 51% of the mineral rights of specific areas of the Hansen and Picnic Tree deposits (for which the Company already holds 49% of the rights). If the Company were to exercise its option under the Option and Exploration Agreement, it would require the Company to (a) make a cash payment of $2,500,000 immediately upon exercise; (b) issue shares of common stock to STB amounting to a value of $3,750,000 immediately upon exercise; and (c) issue shares of common stock to STB amounting to a value of $3,750,000 on the date that is 180 days following exercise. The Option and Exploration Agreement was scheduled to expire by its terms on July 28, 2017 if not exercised. The Option and Exploration Agreement provided an extension for an “event of force majeure”. Under this clause, the Company would receive an extension for the period it could exercise its option if it experiences an unreasonable delay outside its control that prevents it from exercising the option. On May 10, 2017, the Company provided to STB a notice that it was exercising the force majeure clause due to a delay by governmental regulations restricting normal operations and unreasonable delay of the issuance of permits and approval of exploration and development activities enabling the utilization of ablation at the Hansen and Picnic Tree deposits. STB has contested the Company’s finding that an event of force majeure has occurred. As of August 14, 2017, the Company is currently in negotiations with STB and is unable to determine the ultimate outcome of the negotiations. The Company is not yet in a position to evaluate the financial implications of this uncertainty, and as such, the Company has not made any adjustment to these condensed consolidated financials related to this matter. The Company’s mineral properties and ablation intellectual property are: As of June 30, December 31, Mineral properties $ 11,645,218 $ 11,645,218 Ablation intellectual property $ 9,488,051 $ 9,488,051 Reclamation Liabilities The Company’s mines are subject to certain asset retirement obligations, which the Company has recorded as reclamation liabilities. The reclamation liabilities of the United States mines are subject to legal and regulatory requirements, and estimates of the costs of reclamation are reviewed periodically by the applicable regulatory authorities. The reclamation liability represents the Company’s best estimate of the present value of future reclamation costs in connection with the mineral properties. The Company determined the gross reclamation liabilities of the mineral properties as of June 30, 2017 and December 31, 2016 to be approximately $1,036,333 and $1,036,333, respectively. During the three months ended June 30, 2017 and 2016, the accretion of the reclamation liabilities was $2,499 and $178,474, and for the six months ended June 30, 2017 and 2016 was $4,027 and $180,414, respectively. Except in regard to its Alaska coal mine property (as discussed below), the Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over their remaining lives using a discount rate of 5.4% to net discounted values as of June 30, 2017 and December 31, 2016 of $407,666 and $403,639, respectively. The gross reclamation liabilities as of June 30, 2017 are secured by certificates of deposit in the amount of $1,036,333. During the second quarter of 2016, the Company initiated actions to cancel its coal mining leases in Alaska. In connection therewith, the Company notified the state of Alaska of its intent to forfeit the posted bond in satisfaction of the reclamation liabilities at the site. In response to the Company’s notification, the Company received notification that the state of Alaska was initiating forfeiture of the Company’s performance bond for reclamation. However, the notice indicated an additional surety bond of $150,000 in excess of the $210,500 cash bond which had been posted by the Company upon purchase of the property. The Company and its advisors do not believe that it is obligated for this additional amount of claimed reclamation obligation. The Company is working with its legal counsel and the State of Alaska to resolve this matter. The Company has not recorded an additional $150,000 obligation as the Company does not expect, based on the advice of legal counsel, to be obligated to an amount greater than that presently reflected in the reclamation liability. On January 20, 2017, the state of Alaska notified the Company that its reclamation bond had been forfeited and that it was unlikely that any additional amount would be due to Alaska pursuant to the Company’s reclamation obligations and since January 20, 2017, the Company has received no further communications. Reclamation liability activity for six months ended June 30, 2017 consists of: January 1, 2017 $ 403,639 Accretion 4,027 June 30, 2017 407,666 Less current portion 215,976 Non-current portion $ 191,690

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	6 Months Ended
	Jun. 30, 2017
Accounts Payable and Accrued Liabilities [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities consisted of: As of: June 30, December 31, 2016 Trade accounts payable $ 489,606 $ 547,254 Accrued liabilities 162,465 222,653 $ 652,071 $ 769,907

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2017
Notes Payable [Abstract]
NOTES PAYABLE	NOTE 7 - NOTES PAYABLE EFHC Note On August 18, 2014, in connection with the purchase of certain of the mineral properties, the Company entered into a note payable with Energy Fuels Holding Corporation (“EFHC”) (the “EFHC Note”) for $500,000. The EFHC Note bears interest at a rate of 3.0% per annum and is secured by a first priority interest in certain of the Company’s mineral properties. The EFHC Note was initially recorded net of a discount for interest of $73,971, resulting in a total effective interest rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. All principal on the EFHC Note is due and payable on August 18, 2018, and interest on the EFHC Note is due and payable annually beginning August 18, 2015. Nueco Note On August 18, 2014, also in connection with the purchase of certain of the mineral properties, the Company entered into a Note Assumption Agreement with EFHC and Nuclear Energy Corporation (“Nueco”), whereby the Company assumed all of the obligations of EFHC under its note payable with Nueco (the “Nueco Note”). The Nueco Note bears no stated interest rate and is secured by certain of the Company’s mining assets. On the date of the purchase, the Company recorded the Nueco Note net of a discount for interest of $23,724 at a rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. The Nueco Note payment due on December 20, 2014 in the amount of $250,180 was made on January 5, 2015 without penalty other than additional interest at 6% per annum. As of December 31, 2015, the Nueco Note had a remaining obligation outstanding of $250,180, the due date of which was extended to January 13, 2016. In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum. On February 8, 2016, the Company and the lender agreed to further extend the maturity of the Nueco Note to June 2016. In consideration for the extension the Company increased the principal amount by 10% (or $25,384), increased the interest rate to 6% per annum and paid a $5,000 fee that did not reduce the interest or principal. On June 20, 2016, the Company further extended the maturity of the Nueco Note to July 31, 2016. In consideration for the extension, the Company paid a $5,000 fee that did not reduce the interest or principal on the Nueco Note. On August 8, 2016, accrued interest was paid in the amount of $13,477. On August 16, 2016, the Company further extended the maturity of the Nueco Note to November 16, 2016. In consideration for the extension, the Company paid a fee of $10,000 which did not reduce the interest or principal on the Nueco Note. Further, a principal payment of $90,000 was made on August 23, 2016, which reduced the outstanding principal amount to $185,564. The August 16, 2016 extension was accounted for as a modification, and as such, the extension fees were accounted for as additional debt discount and were amortized over the remaining extended term of the note. On November 29, 2016, the Company and the lender agreed to further extend the maturity of the Nueco Note to January 31, 2017. In consideration for the extension, the Company paid a $5,000 fee that did not reduce the principal or interest on the Nueco Note. The Company also made a payment of $5,155, which represented interest on the Nueco Note through January 31, 2017. On February 1, 2017, the Company and lender agreed to further extend the maturity of the Nueco Note to the earlier of (a) five days after the next closing of a private placement; or (b) April 15, 2017. In consideration for the extension, the Company paid to the lender a payment in the amount of $100,000 which represented (i) a principal reduction of $85,564; (ii) $1,186 for a prepayment of interest through April 15, 2017; and (iii) a payment of $13,250 which is a fee which does not reduce the principal or interest on the Nueco Note. On March 31, 2017, the Company repaid the Nueco Note in full. Notes payable consisted of: As of June 30, 2017 Principal Discount Balance, Net Current Non-Current EFHC Note $ 500,000 $ 22,265 $ 477,735 $ - $ 477,735 As of December 31, 2016 Principal Discount Balance, Net Current Non-Current EFHC Note $ 500,000 $ 31,632 $ 468,368 $ - $ 468,368 Nueco Note 185,564 2,439 183,125 183,125 - Total $ 685,564 $ 34,071 $ 651,493 $ 183,125 $ 468,368 The Company’s total interest expense, net, consisted of: For the Three Months Ended June 30, For the Six Months Ended 2017 2016 2017 2016 Interest expense, notes payable $ 3,740 $ 2,337 $ 9,601 $ 14,230 Amortization of discount on notes payable 4,733 35,694 25,056 40,735 Accretion of reclamation liabilities 2,499 177,433 4,027 180,414 Other interest expense 261 2,249 988 2,579 Interest income (653 ) (528 ) (928 ) (693 ) Interest expense, net $ 10,580 $ 217,185 $ 38,744 $ 237,265

Commitments

Commitments	6 Months Ended
	Jun. 30, 2017
Commitments [Abstract]
COMMITMENTS	NOTE 8 - COMMITMENTS On February 8, 2017, the Company entered into an employment agreement with its Chief Executive Officer. The employment agreement provides for an initial term of January 1, 2017 through December 31, 2018, with automatic annual renewals unless the Company or the Chief Executive Officer were to provide 90 days written notice of their desire to not renew the agreement. The employment agreement provides for a base salary of $180,000 per annum and a discretionary annual cash bonus to be determined by the Company’s board of directors. Pursuant to the employment agreement, if the Company terminates the employment agreement without cause, or if a change of control occurs, the Company is required to pay to the Chief Executive Officer a lump sum payment equal to two and one-half times his annual base salary. On May 12, 2017, the Company entered into an engagement agreement with its Chief Financial Officer. The engagement agreement provides for an initial term of May 1, 2017 through June 30, 2017. The May 12, 2017 engagement agreement provided for a base salary of $12,500 per month. On August 1, 2017, the Company entered into an engagement agreement to extend the initial May 12, 2017 agreement with its Chief Financial Officer. The August 1, 2017 agreement extends the term of the agreement to provide for a term of July 1, 2017 through September 30, 2017 and provides for a base salary of $8,000 per month.

Share Capital and Other Equity

Share Capital and Other Equity Instruments	6 Months Ended
	Jun. 30, 2017
Share Capital and Other Equity Instruments [Abstract]
SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS	NOTE 9 - SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS Shares Issued for Accounts Payable On February 7, 2017, the Company issued 53,788 shares of its common stock in exchange for approximately $83,338 of its accounts payable outstanding with certain creditors. Private Placement On March 31, 2017, the Company completed a private placement of 634,424 units at a price of CAD $1.75 (USD $1.32) per unit for gross proceeds of CAD $1,110,242 (USD $834,252) and net proceeds of CAD $1,083,415 (USD $814,078). Each unit consists of one share of the Company’s common stock and a warrant for the purchase of one share of the Company’s common stock. Each warrant is immediately exercisable at a price of CAD $3.25 (USD $2.44) and expires five years from the date of issuance. The Company also issued broker warrants to purchase 11,108 shares of common stock at a price of CAD $3.25 per share, which expire two years from the date of issuance. Incentive Stock Option Plan The Company maintains an Incentive Stock Option Plan (the “Plan”) that permits the granting of stock options as incentive compensation. Shareholders of the Company approved the Plan on June 30, 2008 and amendments to the Plan on June 20, 2013, and the Board of Directors approved additional changes to the Plan on September 12, 2015. The purpose of the Plan is to attract, retain and motivate directors, management, staff and consultants by providing them with the opportunity, through stock options, to acquire a proprietary interest in the Company and benefit from its growth. The Plan provides that the aggregate number of common shares for which stock options may be granted will not exceed 10% of the issued and outstanding common shares at the time stock options are granted. As of June 30, 2017, a total of 19,574,709 common shares were outstanding, and at that date the maximum number of stock options eligible for issue under the Plan was 1,957,471 (10% of the issued and outstanding common shares). Stock Options Number of Shares Weighted Weighted Weighted Intrinsic Outstanding - January 1, 2017 1,346,996 $ 2.37 4.28 $ 0.53 - Outstanding - June 30, 2017 1,346,996 $ 2.37 3.78 $ 0.53 $ - Exercisable - June 30, 2017 1,346,996 $ 2.37 3.78 $ 0.53 $ - There were no stock options granted, expired, forfeited, cancelled or exercised during the three months and six months ended June 30, 2017. The Company’s stock based compensation expense related to stock options for the three months ended June 30, 2017 and 2016 was $0 and $0 and for the six months ended June 30, 2017 and 2016 was $133,282 and $0, respectively. Warrants Number of Shares Weighted Average Exercise Price Weighted Average Contractual Life (years) Intrinsic Value Outstanding - January 1, 2017 2,696,040 $ 2.08 4.71 $ - Issued 645,532 $ 3.25 - - Outstanding - June 30, 2017 3,341,572 $ 2.88 4.31 $ - Exercisable – June 30, 2017 3,341,572 $ 2.88 4.31 $ -

Mining Expenditures

Mining Expenditures	6 Months Ended
	Jun. 30, 2017
Mining Expenditures [Abstract]
MINING EXPENDITURES	NOTE 10 - MINING EXPENDITURES For the Three Months Ended For the Six Months Ended 2017 2016 2017 2016 Permits $ 1,889 $ 67,188 $ 5,303 $ 116,374 Maintenance 32,222 43,824 69,426 81,678 Contract Labor 4,525 3,975 4,525 6,535 Royalties - 3,750 - 7,500 $ 38,636 $ 118,737 $ 79,254 $ 212,087

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 11 - RELATED PARTY TRANSACTIONS The Company has transacted with related parties pursuant to service arrangements in the ordinary course of business, as follows: Entities controlled by a member of the Board of Directors earned consulting fees totaling $15,670 and $9,227 for the three months ended June 30, 2017 and 2016, respectively, and $29,911 and $18,472 for the six months ended June 30, 2017 and 2016, respectively. The same director earned director fees totaling $1,540 and $1,538 during the three months ended June 30, 2017 and 2016, respectively, and $3,079 and $3,079 for the six months ended June 30, 2017 and 2016, respectively. As of June 30, 2017 and December 31, 2016, the Company has $8,306 and $0, respectively, in accounts payable and accrued liabilities owing to this director. See Note 12 – Subsequent Event for the resignation of this director. Pursuant to a consulting agreement, a United States limited liability company owned by a person who is a director and until October 19, 2016, was the Company’s CFO, entered into a contract with the Company dated January 1, 2016, (the “January 2016 Agreement”) to provide financial and other consulting services at $8,333 per month. On October 19, 2016 the January 2016 Agreement was terminated. On the same date a new agreement was entered into between the Company, a United States limited liability company owned by the same director and Robert Klein (the “October 2016 Agreement”) to provide financial operating services and to have Mr. Klein serve as the Chief Financial Officer. The term of the October 2016 Agreement was to run through July 31, 2017 and has an annual fee of $162,000 payable monthly, starting on October 1, 2016. On March 26, 2017, the Company provided notice that it would be cancelling the October 2016 Agreement, effective April 30, 2017. The acknowledgement of the termination initiated the preparation of Mr. Klein’s engagement agreement as described in Note 8. During the three months ended June 30, 2017 and 2016, the Company incurred fees of $7,040 and $25,000, respectively, to these companies. During the six months ended June 30, 2017 and 2016, the Company incurred fees of $23,540 and $25,000, respectively, to these companies. As of June 30, 2017 and December 31, 2016, the Company had $1,540 and $0, respectively, included in accounts payable and accrued liabilities payable to these companies. Pursuant to a consulting agreement, a United States limited liability company owned by a person who is a director entered into a consulting agreement with the Company effective April 1, 2016 to provide financial, advisory, and consulting services, including representing the Company to a variety of stakeholders for a six month term ending on September 30, 2016. On October 1, 2016 the Company extended this agreement through January 31, 2017. Professional fees for the three months ended June 30, 2017 and 2016 were $45,000 and $60,000, and for the six months ended June 30, 2017 and 2016 was $60,000 and $60,000, respectively, related to this agreement. As of June 30, 2017 and December 31, 2016, the Company had $0 and $0, respectively, included in accounts payable and accrued liabilities payable to this entity. On April 1, 2017, the Company entered into a new consulting agreement with a United States limited liability company owned by a person who is a director. The consulting agreement is to provide assistance with capital raising activities and other financial, advisory, and consulting services for the period April 1, 2017 through June 30, 2017. At June 30, 2017 and the last day of each month thereafter, the agreement may be extended by the Company on a month-to-month basis with seven days’ notice. The agreement has a monthly fee of $15,000. Pursuant to the consulting agreement, if the Company completes a merger with a third party introduced by this director whereby more than 50% of the Company’s then outstanding shares are transferred to that third party, the Company is required to pay a lump sum in an amount of $350,000 to this entity. On July 28, 2017 the director who owns this limited liability company was named executive chairman in addition to his role as director.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	NOTE 12 - SUBSEQUENT EVENTS Resignation of Chairman On July 27, 2017, Michael Skutezky resigned as Independent Chairman of Western. On such date Mr. Skutezky also relinquished his roles as Director, a member of the audit committee, and as a director of Western subsidiaries and affiliates. Subsequently, Russell Fryer, a current member of the Company’s board of directors, has been named Executive Chairman, in addition to his current role as a director.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three months and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2016 and related notes thereto which were included in the Company’s Form 10-K filed with the Securities and Exchange Commission on March 31, 2017. The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corporation (Utah), PRM, Black Range, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation. The Company has established the existence of mineralized materials for certain uranium projects. The Company has not established proven or probable reserves, as defined by the United States Securities and Exchange Commission (the “SEC”) under Industry Guide 7, through the completion of a “final” or “bankable” feasibility study for any of its uranium projects.
Use of Estimates	Use of Estimates The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the periods reported. By their nature, these estimates are subject to measurement uncertainty and the effects on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include determining the fair value of transactions involving common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, and the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates.
Foreign Currency Translation	Foreign Currency Translation The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent (Western Uranium Corporation (Ontario)) is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive income (loss) in the condensed consolidated balance sheets.
Fair Values of Financial Instruments	Fair Values of Financial Instruments The fair value of financial instruments in the Company’s condensed consolidated financial statements as of June 30, 2017 and December 31, 2016 are as follows: Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) Significant Unobservable Inputs (Level 3) Marketable securities as of June 30, 2017 $ 3,079 $ - $ - Marketable securities as of December 31, 2016 $ 2,976 $ - $ -
Loss per Share	Loss per Share Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic net loss per share for the three and six months ended June 30, 2017 and 2016 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted. Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive. For the Three and Six Months 2017 2016 Warrants to purchase shares of common stock 3,341,572 566,356 Options to purchase shares of common stock 1,346,996 271,996 Total potentially dilutive securities 4,688,568 838,352

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Summary of Significant Accounting Policies [Abstract]
Schedule of fair values of financial instruments	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) Significant Unobservable Inputs (Level 3) Marketable securities as of June 30, 2017 $ 3,079 $ - $ - Marketable securities as of December 31, 2016 $ 2,976 $ - $ -
Schedule of aanti-dilutive securities excluded from computation of earnings per share	For the Three and Six Months 2017 2016 Warrants to purchase shares of common stock 3,341,572 566,356 Options to purchase shares of common stock 1,346,996 271,996 Total potentially dilutive securities 4,688,568 838,352

Mineral Properties and Ablati22

Mineral Properties and Ablation Intellectual Property (Tables)	6 Months Ended
	Jun. 30, 2017
Mineral Properties and Ablation Intellectual Property [Abstract]
Schedule of mineral properties and ablation intellectual property	As of June 30, December 31, Mineral properties $ 11,645,218 $ 11,645,218 Ablation intellectual property $ 9,488,051 $ 9,488,051
Schedule on reclamation obligations	January 1, 2017 $ 403,639 Accretion 4,027 June 30, 2017 407,666 Less current portion 215,976 Non-current portion $ 191,690

Accounts Payable and Accrued 23

Accounts Payable and Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of accounts payable and accrued liabilities	As of: June 30, December 31, 2016 Trade accounts payable $ 489,606 $ 547,254 Accrued liabilities 162,465 222,653 $ 652,071 $ 769,907

Notes Payable (Tables)

Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Payable [Abstract]
Schedule of notes payable	As of June 30, 2017 Principal Discount Balance, Net Current Non-Current EFHC Note $ 500,000 $ 22,265 $ 477,735 $ - $ 477,735 As of December 31, 2016 Principal Discount Balance, Net Current Non-Current EFHC Note $ 500,000 $ 31,632 $ 468,368 $ - $ 468,368 Nueco Note 185,564 2,439 183,125 183,125 - Total $ 685,564 $ 34,071 $ 651,493 $ 183,125 $ 468,368
Schedule of total interest expense, net	For the Three Months Ended June 30, For the Six Months Ended 2017 2016 2017 2016 Interest expense, notes payable $ 3,740 $ 2,337 $ 9,601 $ 14,230 Amortization of discount on notes payable 4,733 35,694 25,056 40,735 Accretion of reclamation liabilities 2,499 177,433 4,027 180,414 Other interest expense 261 2,249 988 2,579 Interest income (653 ) (528 ) (928 ) (693 ) Interest expense, net $ 10,580 $ 217,185 $ 38,744 $ 237,265

Share Capital and Other Equit25

Share Capital and Other Equity Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Share Capital and Other Equity Instruments [Abstract]
Summary of company's stock option granted activity	Number of Shares Weighted Weighted Weighted Intrinsic Outstanding - January 1, 2017 1,346,996 $ 2.37 4.28 $ 0.53 - Outstanding - June 30, 2017 1,346,996 $ 2.37 3.78 $ 0.53 $ - Exercisable - June 30, 2017 1,346,996 $ 2.37 3.78 $ 0.53 $ -
Summary of warrants outstanding	Number of Shares Weighted Average Exercise Price Weighted Average Contractual Life (years) Intrinsic Value Outstanding - January 1, 2017 2,696,040 $ 2.08 4.71 $ - Issued 645,532 $ 3.25 - - Outstanding - June 30, 2017 3,341,572 $ 2.88 4.31 $ - Exercisable – June 30, 2017 3,341,572 $ 2.88 4.31 $ -

Mining Expenditures (Tables)

Mining Expenditures (Tables)	6 Months Ended
	Jun. 30, 2017
Mining Expenditures [Abstract]
Schedule of mining expenditures	For the Three Months Ended For the Six Months Ended 2017 2016 2017 2016 Permits $ 1,889 $ 67,188 $ 5,303 $ 116,374 Maintenance 32,222 43,824 69,426 81,678 Contract Labor 4,525 3,975 4,525 6,535 Royalties - 3,750 - 7,500 $ 38,636 $ 118,737 $ 79,254 $ 212,087

Business (Details)

Business (Details)	Nov. 20, 2014
Business (Textual)
Ownership percentage	100.00%

Liquidity and Going Concern (De

Liquidity and Going Concern (Details)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2017CADshares	Jun. 30, 2017USD ($)	Mar. 31, 2017CAD / shares	Dec. 31, 2016USD ($)
Liquidity and Going Concern (Textual)
Accumulated deficit			$ (5,204,880)		$ (4,125,855)
Working capital deficit			$ 39,644
Private Placement [Member]
Liquidity and Going Concern (Textual)
Sale of stock description of transaction	Each unit consists of one share of the Company's common stock and a warrant for the purchase of one share of the Company's common stock. Each warrant is immediately exercisable at a price of CAD $3.25 and expires five years from the date of issuance. The Company also issued broker warrants to purchase 11,108 shares of common stock at a price of CAD $3.25 per share, which expire two years from the date of issuance.	Each unit consists of one share of the Company's common stock and a warrant for the purchase of one share of the Company's common stock. Each warrant is immediately exercisable at a price of CAD $3.25 and expires five years from the date of issuance. The Company also issued broker warrants to purchase 11,108 shares of common stock at a price of CAD $3.25 per share, which expire two years from the date of issuance.
Price per share | (per share)	$ 1.32			CAD 1.75
Issuance of private placement units | shares	634,424	634,424
Gross proceeds of private placement	$ 834,252	CAD 1,110,242
Net proceeds of private placement	$ 814,078	CAD 1,083,415

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 3,079	$ 2,976
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	3,079	2,976
Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details 1) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities	4,688,568	838,352	4,688,568	838,352
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities	3,341,572	566,356	3,341,572	566,356
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities	1,346,996	271,996	1,346,996	271,996

Mineral Properties and Ablati31

Mineral Properties and Ablation Intellectual Property (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Mineral Properties and Ablation Intellectual Property [Abstract]
Mineral properties	$ 11,645,218	$ 11,645,218
Ablation intellectual property	$ 9,488,051	$ 9,488,051

Mineral Properties and Ablati32

Mineral Properties and Ablation Intellectual Property (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Mineral Properties and Ablation Intellectual Property [Abstract]
January 1, 2017	$ 403,639
Accretion	4,027
June 30, 2017	407,666
Less current portion	215,976	$ 215,976
Non-current portion	$ 191,690	$ 187,663

Mineral Properties and Ablati33

Mineral Properties and Ablation Intellectual Property (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 16, 2015	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Mineral Properties and Ablation Intellectual Property (Textual)
Reclamation liability mineral properties		$ 1,036,333		$ 1,036,333		$ 1,036,333
Accretion of reclamation liability		2,499	$ 178,474	$ 4,027	$ 180,414
Reclamation liability, description				The Company expects to begin incurring the reclamation liability after 2054	The Company has not recorded an additional $150,000 obligation as the Company does not expect, based on the advice of legal counsel, to be obligated to an amount greater than that presently reflected in the reclamation liability.
Discount rate				5.40%
Net discounted value		407,666		$ 407,666		$ 403,639
Certificates of deposit		$ 1,036,333		$ 1,036,333
Cash of bond amount					$ 210,500
Additional surety of bond amount					$ 150,000
Business acquisition, Description	The Option and Exploration Agreement gives the Company the right to purchase 51% of the mineral rights of specific areas of the Hansen and Picnic Tree deposits (for which the Company already holds 49% of the rights). If the Company were to exercise its option under the Option and Exploration Agreement, it would require the Company to (a) make a cash payment of $2,500,000 immediately upon exercise; (b) issue shares of common stock to STB amounting to a value of $3,750,000 immediately upon exercise; and (c) issue shares of common stock to STB amounting to a value of $3,750,000 on the date that is 180 days following exercise. The Option and Exploration Agreement was scheduled to expire by its terms on July 28, 2017 if not exercised.

Accounts Payable and Accrued 34

Accounts Payable and Accrued Liabilities (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Accounts Payable and Accrued Liabilities [Abstract]
Trade accounts payable	$ 489,606	$ 547,254
Accrued liabilities	162,465	222,653
Total accounts payable and accrued liabilities	$ 652,071	$ 769,907

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Aug. 18, 2014
Debt Instrument [Line Items]
Principal		$ 685,564
Discount		34,071
Balance, Net of Discount		651,493
Current		183,125
Non-Current	477,735	468,368
EFHC [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Principal	500,000	500,000
Discount	22,265	31,632	$ 73,971
Balance, Net of Discount	477,735	468,368
Current
Non-Current	$ 477,735	468,368
Nueco [Member] | Notes Payable [Member]
Debt Instrument [Line Items]
Principal		185,564
Discount		2,439	$ 23,724
Balance, Net of Discount		183,125
Current		183,125
Non-Current

Notes Payable (Details 1)

Notes Payable (Details 1) - USD ($)	Nov. 29, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Notes Payable [Abstract]
Interest expense, notes payable		$ 3,740	$ 2,337	$ 9,601	$ 14,230
Amortization of discount on notes payable		4,733	35,694	25,056	40,735
Accretion of reclamation liabilities		2,499	177,433	4,027	180,414
Other interest expense		261	2,249	988	2,579
Interest income		(653)	(528)	(928)	(693)
Interest expense, net	$ 5,155	$ 10,580	$ 217,185	$ 38,744	$ 237,265

Notes Payable (Details Textual)

Notes Payable (Details Textual) - USD ($)

Feb. 01, 2017

Nov. 29, 2016

Aug. 08, 2016

Jun. 20, 2016

Feb. 08, 2016

Jan. 05, 2015

Aug. 18, 2014

Aug. 16, 2016

Dec. 31, 2015

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Dec. 31, 2016

Aug. 23, 2016

Notes Payable (Textual)

Net of a discount for interest

$ 34,071

Principal amount

685,564

Interest expense, net

$ 5,155

$ 10,580

$ 217,185

$ 38,744

$ 237,265

Accrued interest

$ 13,477

EFHC [Member] | Notes Payable [Member]

Notes Payable (Textual)

Note payable

$ 500,000

Interest payable

3.00%

Effective interest rate

7.00%

Net of a discount for interest

$ 73,971

22,265

22,265

31,632

Maturity date of notes payable

Aug. 18, 2018

Principal amount

$ 500,000

$ 500,000

500,000

Nueco [Member] | Notes Payable [Member]

Notes Payable (Textual)

Note payable

$ 250,180

Interest payable

6.00%

6.00%

7.00%

Net of a discount for interest

$ 23,724

2,439

Maturity date of notes payable

Jan. 31, 2017

Jul. 31, 2016

Jun. 20, 2016

Dec. 20, 2014

Aug. 16, 2016

Jan. 13, 2016

Remaining obligation outstanding

$ 250,180

Debt instrument, description

(a) five days after the next closing of a private placement; or (b) April 15, 2017. In consideration for the extension, the Company paid to the lender a payment in the amount of $100,000 which represented (i) a principal reduction of $85,564; (ii) $1,186 for a prepayment of interest through April 15, 2017; and (iii) a payment of $13,250 which is a fee which does not reduce the principal or interest on the Nueco Note.

In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum.

Principal amount

$ 185,564

Increase in principal amount

$ 25,384

Percentage of increase in principal amount

10.00%

Outstanding principal amount

$ 185,564

Debt instrument, fee

$ 13,250

$ 5,000

$ 5,000

$ 5,000

$ 10,000

Nueco [Member] | Notes Payable [Member] | Maximum [Member]

Notes Payable (Textual)

Principal amount

$ 90,000

Commitments (Details)

Commitments (Details) - USD ($)	Aug. 01, 2017	May 12, 2017	Feb. 08, 2017
Commitments (Textual)
Commitments, description		The engagement agreement provides for an initial term of May 1, 2017 through June 30, 2017.	The employment agreement provides for an initial term of January 1, 2017 through December 31, 2018, with automatic annual renewals unless the Company or the Chief Executive Officer were to provide 90 days written notice of their desire to not renew the agreement.
Base salary		$ 12,500	$ 180,000
Subsequent Event [Member]
Commitments (Textual)
Commitments, description	The August 1, 2017 agreement extends the term of the agreement to provide for a term of July 1, 2017 through September 30, 2017.
Base salary	$ 8,000

Share Capital and Other Equit39

Share Capital and Other Equity Instruments (Details) - Stock Option [Member]	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Number of Shares
Outstanding - January 1, 2017 | shares	1,346,996
Outstanding - June 30, 2017 | shares	1,346,996
Exercisable - June 30, 2017 | shares	1,346,996
Weighted Average Exercise Price
Outstanding - January 1, 2017	$ 2.37
Outstanding - June 30, 2017	2.37
Exercisable - June 30, 2017	$ 2.37
Weighted Average Contractual Life (years)
Outstanding - January 1, 2017	4 years 3 months 11 days
Outstanding - June 30, 2017	3 years 9 months 11 days
Exercisable - June 30, 2017	3 years 9 months 11 days
Weighted Average Grant Date Fair Value
Outstanding - January 1, 2017	$ 0.53
Outstanding - June 30, 2017	0.53
Exercisable - June 30, 2017	$ 0.53
Intrinsic Value
Outstanding - June 30, 2017 | $
Exercisable - June 30, 2017 | $

Share Capital and Other Equit40

Share Capital and Other Equity Instruments (Details 1) - Warrants [Member]	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Number of shares upon exercise
Outstanding - January 1, 2017 | shares	2,696,040
Issued | shares	645,532
Outstanding - June 30, 2017 | shares	3,341,572
Exercisable - June 30, 2017 | shares	3,341,572
Weighted Average Exercise Price
Outstanding - January 1, 2017 | $ / shares	$ 2.08
Issued | $ / shares	3.25
Outstanding - June 30, 2017 | $ / shares	2.88
Exercisable - June 30, 2017 | $ / shares	$ 2.88
Weighted Average Contractual Life (years)
Outstanding - January 1, 2017	4 years 8 months 16 days
Outstanding - June 30, 2017	4 years 3 months 22 days
Exercisable - June 30, 2017	4 years 3 months 22 days
Intrinsic Value
Outstanding - June 30, 2017 | $
Exercisable - June 30, 2017 | $

Share Capital and Other Equit41

Share Capital and Other Equity Instruments (Details Textual)	3 Months Ended				6 Months Ended
	Jun. 30, 2017USD ($)shares	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2017CADshares	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)shares	Jun. 30, 2016USD ($)	Mar. 31, 2017CAD / shares	Feb. 07, 2017USD ($)shares	Dec. 31, 2016shares
Share Capital and Other Equity Instruments (Textual)
Common stock, shares outstanding	19,574,709				19,574,709				18,886,497
Common stock, shares issued	19,574,709				19,574,709			53,788	18,886,497
Stock based compensation expense | $	$ 0			$ 0	$ 133,282	$ 0
Accounts payable | $								$ 83,338
Incentive Stock Option Plan [Member]
Share Capital and Other Equity Instruments (Textual)
Percentage of issued and outstanding of common shares					10.00%
Maximum number of shares eligible for issue, shares					1,957,471
Private Placement [Member]
Share Capital and Other Equity Instruments (Textual)
Sale of stock description of transaction		Each warrant is immediately exercisable at a price of CAD $3.25 (USD $2.44) and expires five years from the date of issuance. The Company also issued broker warrants to purchase 11,108 shares of common stock at a price of CAD $3.25 per share, which expire two years from the date of issuance.	Each warrant is immediately exercisable at a price of CAD $3.25 (USD $2.44) and expires five years from the date of issuance. The Company also issued broker warrants to purchase 11,108 shares of common stock at a price of CAD $3.25 per share, which expire two years from the date of issuance.
Issuance of private placement units		634,424	634,424
Share price per unit | (per share)		$ 1.32					CAD 1.75
Gross proceeds of private placement		$ 834,252	CAD 1,110,242
Net proceeds of private placement		$ 814,078	CAD 1,083,415

Mining Expenditures (Details)

Mining Expenditures (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Mining Expenditures [Abstract]
Permits	$ 1,889	$ 67,188	$ 5,303	$ 116,374
Maintenance	32,222	43,824	69,426	81,678
Contract Labor	4,525	3,975	4,525	6,535
Royalties		3,750		7,500
Total mining expenditures	$ 38,636	$ 118,737	$ 79,254	$ 212,087

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transactions (Textual)
Consulting fees	$ 15,670	$ 9,227	$ 29,911	$ 18,472
Director fees	1,540	1,538	3,079	3,079
Accounts payable and accrued liabilities payable	1,540		1,540		$ 0
Incurred fees	7,040	25,000	23,540	25,000
Professional fees	149,889	290,985	$ 375,383	326,092
Related party transaction, description			The Company effective April 1, 2016 to provide financial, advisory, and consulting services, including representing the Company to a variety of stakeholders for a six month term ending on September 30, 2016. On October 1, 2016 the Company extended this agreement through January 31, 2017.
Monthly agreement fee	$ 15,000
Payments to related party			$ 350,000
Related party, ownership percentage	50.00%		50.00%
Director [Member]
Related Party Transactions (Textual)
Accounts payable and accrued liabilities payable	$ 8,306		$ 8,306		0
US Limited Liability Company [Member]
Related Party Transactions (Textual)
Accounts payable and accrued liabilities payable	0		0		0
Professional fees	45,000	$ 60,000	60,000	$ 60,000
Annual fee			162,000
US Limited Liability Company [Member] | January 2016 Agreement [Member]
Related Party Transactions (Textual)
Accounts payable and accrued liabilities payable	$ 0		0		$ 0
Consulting fees per month			$ 8,333