| Income Taxes |
The
reconciliation of the combined Canadian federal and provincial statutory income tax rate of 27% (2024 and 2023 – 27%) to
the effective tax rate is as follows:
| Schedule of Combined Canadian Federal and Provincial Statutory Income Tax Rate | |
June 30, 2025 | | |
June 30, 2024 | | |
June 30, 2023 | |
| | |
| $ | | |
| $ | | |
| $ | |
| Net loss before income tax | |
| (15,985,788 | ) | |
| (6,850,918 | ) | |
| (15,462,945 | ) |
| Combined federal and provincial statutory income tax rates | |
| 27 | % | |
| 27 | % | |
| 27 | % |
| Expected income tax recovery at statutory rates | |
| 4,316,163 | | |
| 1,849,748 | | |
| 4,174,995 | |
| Non-deductible differences | |
| 4,082,556 | | |
| 1,195,284 | | |
| (225,472 | ) |
| Flow through expenditures | |
| (1,153,751 | ) | |
| (663,475 | ) | |
| — | |
| True-up of prior year amounts | |
| (1,039,721 | ) | |
| 578,598 | | |
| — | |
| Change in unrecognized deductible temporary differences | |
| (6,205,247 | ) | |
| (2,960,155 | ) | |
| (3,949,523 | ) |
| Total income tax recovery | |
| — | | |
| — | | |
| — | |
Unrecognized
deductible temporary differences
The
income tax benefit of the following deductible temporary differences has not been recorded in these financial statements because
of the uncertainty of their recovery:
| Schedule of Deductible Temporary Differences | |
June 30, 2025 | | |
June 30, 2024 | | |
June 30, 2023 | |
| | |
| $ | | |
| $ | | |
| $ | |
| Non-capital losses carried forward | |
| 12,089,508 | | |
| 7,155,193 | | |
| 5,226,507 | |
| Exploration and evaluation assets | |
| (908,007 | ) | |
| 916,213 | | |
| (100,081 | ) |
| Other items | |
| 3,603,820 | | |
| 508,668 | | |
| 493,493 | |
| Other comprehensive income, before tax | |
| 14,785,321 | | |
| 8,580,074 | | |
| 5,619,919 | |
Non-capital
losses carried forward
The
Company has non-capital tax losses available to reduce taxes in future years of approximately $44,776,000 (2024 – $26,500,000;
2023 - $19,357,000). These losses have expiry dates between 2038 and 2045.
Tax
attributes are subject to review, and potential adjustment, by tax authorities
|