INTANGIBLE ASSETS |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Asset, Goodwill and Other [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS | NOTE 4 – INTANGIBLE ASSETS
Mining Claims
On July 7, 2026, the Company exercised an option to purchase mining claims by paying $500,000 in cash and $1,500,000 in common stock of the Company. As a result, the Company issued shares of common stock to the seller based on the $ per share trading price of the Company’s common stock at such time.
Mining claims consist primarily of unpatented mining claims, mineral leases, option agreements, and related acquisition costs associated with the Company’s exploration properties.
As
of July 31, 2026, the Company’s mining claims are considered unproven and are therefore classified as indefinite-lived
intangible assets. Accordingly, no
amortization expense was recognized during the six months ended July 31, 2026. The assets will begin to be amortized when the
underlying mineral properties are placed into commercial production.
The Company performs periodic impairment assessments of its mining claims and evaluates whether events or changes in circumstances indicate that the carrying amounts may not be recoverable. Management concluded that no impairment indicators existed as of July 31, 2026.
No impairment charges were recognized during the six months ended July 31, 2026 and 2025.
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