NOTE 11 — SUBSEQUENT EVENTS

On August 14, 2018, the Company issued 9,843 shares of the Company’s common stock to the Chief Geologist for services rendered to the Company for July 2018 pursuant to his employment agreement (see Note 9). The Company valued these common shares at the fair value of $12,500 or $1.27 per common share based on the quoted trading prices on the date of grants and reduced accrued salaries by $12,500.

On September 6, 2018, the Company issued 10,965 shares of the Company’s common stock to the Chief Geologist for services rendered to the Company for August 2018 pursuant to his employment agreement (see Note 9). The Company valued these common shares at the fair value of $12,500 or $1.14 per common share based on the quoted trading prices on the date of grants and reduced accrued salaries by $12,500.

Subsequent to July 31, 2018, the Company issued an aggregate of 1,000,000 shares of the Company’s common stock to officers, directors and employees for services rendered. The shares vest 50% on the date of issuance and 50% on the one-year anniversary of the date of issuance