Property and Equipment

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

NOTE 4 - Property and Equipment

As of March 31, 2025 and December 31, 2024, the Company's property and equipment consists of the following:

	Estimated Useful Life	March 31, 2025		December 31, 2024
	Years	$		$
Land		418,884		418,884
Building	39	1,423,810		1,423,810
Furniture and equipment	3 to 5	961,683		961,655
Right-of-use ("ROU") assets	2 to 5	296,737		326,946
		3,101,114		3,131,295
Less: accumulated depreciation		(931,803	)	(883,573	)
Property and equipment, net		2,169,311		2,247,722

Depreciation expense for the three months ended March 31, 2025 and 2024 is included in general and administrative expenses. ROU assets are amortized on a straight-line basis for the remaining lives of their respective lease terms.

At March 31, 2025, the Company has three agreements for office and building space in Rapid City, South Dakota and Vancouver, British Columbia, Canada, all of which have been determined to be operating leases. The lease agreements do not contain extension options. For measurement of the original lease liability and ROU asset, the Company applied a discount rate of 11.66% based on the Company's estimated incremental borrowing rate. During the three months ended March 31, 2025 and 2024, the Company recognized rent expense, which is included in general and administrative and exploration expenses, on the condensed consolidated interim statements of operations. The weighted average remaining lease term for operating leases as of March 31, 2025 was 1.9 years. At March 31, 2025 and December 31, 2024, the remaining undiscounted lease payments under these lease agreements totaled approximately $0.4 million.