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Income Tax | 12 Months Ended
--- | ---
Apr. 30, 2024
Disclosure Of Income Taxes [Abstract] |
Income Tax [Text Block] | 13. Income Tax The following table reconciles the expected income taxes expense (recovery) at the Canadian statutory income tax rates to the amounts recognized in the consolidated statements of loss and comprehensive loss for the years ended April 30, 2024, and 2023:
|  | 2024 |  |  | 2023 |
|  | $ |  |  | $ |
Net loss before tax |  | (15,948,389 | ) |  | (13,591,728 | )
Statutory tax rate |  | 27.00% |  |  | 27.00% |
Expected income recovery |  | (4,306,065 | ) |  | (3,669,767 | )
Change in deferred tax assets not recognized |  | (3,686,725 | ) |  | 10,505,857 |
Share issuance costs |  | (782,849 | ) |  | (2,190,593 | )
Foreign exchange |  | (96,891 | ) |  | (28,790 | )
Change in estimate |  | 7,497,449 |  |  | (5,911,480 | )
Tax effect of spinout |  | - |  |  | - |
Non-deductible items and other |  | 1,375,081 |  |  | 1,294,773 |
Total income tax expense (recovery) |  | - |  |  | - |
The deferred taxes assets and liabilities reflect the tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax values. The recognized deferred tax liability and assets as at April 30, 2024 and 2023 are comprised of the following:
|  | 2024 |  |  | 2023 |
|  | $ |  |  | $ |
Non-capital loss carryforwards |  | 15,439,182 |  |  | 1,351,294 |
Property and equipment |  | 474,564 |  |  |  |
Exploration and evaluation assets |  | (15,913,746) |  |  | (1,351,294 | )
Net deferred tax asset (liability) |  | - |  |  | - |
The unrecognized deductible temporary differences as at April 30, 2024, and 2023 are comprised of the following:
|  | 2024 |  |  | 2023 |
|  | $ |  |  | $ |
Non-capital loss carryforwards |  | 44,301,215 |  |  | 57,492,282 |
Property, plant, and equipment |  | 126,110 |  |  | 234,193 |
Equity investments |  | 1,251,761 |  |  | 560,057 |
Intangible assets |  | 89,875 |  |  |  |
Financing costs |  | 8,796,460 |  |  | 11,740,967 |
Total unrecognized deductible temporary differences |  | 54,565,421 |  |  | 70,027,499 |
The Company has non-capital loss carry forwards of approximately $44,301,215 (2023: $57,492,282) that have not recognized in these financial statements, which may be carried forward to apply against future income for Canadian and Mexican income tax purposes, subject to the final determination by taxation authorities, expiring in the following years:
Expiry |
| $
2044 | 10,676,181
2043 | 10,239,059
2042 | 6,534,759
2041 | 6,645,093
2040 | 2,618,143
2039 | 278,071
2038 | 65,933
2037 | -
2036 | -
2035 | -
2034 | 7,226,469
2033 | 14,376
2032 | 3,133
Total | 44,301,215

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