Annual report pursuant to Section 13 and 15(d)

Mineral Rights (Tables)

v3.21.2
Mineral Rights (Tables)
 12 Months Ended
Apr. 30, 2021
Extractive Industries [Abstract]  
Schedule of Fair Value of Assets Acquired and Liabilities Assumed

Based upon the purchase price allocation, the following table summarizes the estimated relative fair value of the assets acquired and liabilities assumed at the date of acquisition:

 

Cash   $ 159,063  
Mineral property – Maggie Creek     1,986,607  
Total assets acquired at fair value     2,145,670  
Total Liabilities assumed at fair value     (125,670 )
Total purchase consideration   $ 2,020,000  

 

Net assets purchased consist of:

 

Cash – US Dollars   $ 2,500,000  
Intangible assets – (mineral rights) Challis Gold Project     10,249,632  
Total assets acquired at fair value     12,749,632  
Total Liabilities assumed at fair value – US Dollars     (108,652 )
Total purchase consideration   $ 12,640,980  
Schedule of Mineral Properties

As of the dates presented, mineral properties consisted of the following:

 

    April 30, 2021     April 30, 2020  
CK Gold Project   $ 3,091,738     $ 3,091,738  
Keystone Project     1,028,885       1,028,885  
Gold Bar North Project     -       56,329  
Maggie Creek Project     1,986,607       1,986,607  
Challis Gold Project     10,249,632       -  
Total   $ 16,356,862     $ 6,163,559