Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended April 30, 2024

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to ___________

Commission File Number 333-146934

NORTHERN MINERALS & EXPLORATION LTD.

(Exact name of registrant as specified in its charter)

Nevada		98-0557171
(State or other jurisdiction of incorporation or organization)		(IRS Employer Identification No.)

1267 N 680 W, Pleasant Grove, UT		84062
(Address of principal executive offices)		(Zip Code)

(801) 885-9260

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐

Non-accelerated filer ☒

Emerging growth company ☒

Accelerated filer ☐

Smaller reporting company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. 104,967,690 common shares issued and June 7, 2024.

NORTHERN MINERALS & EXPLORATION LTD.

FORM 10-Q

For the Period ended April 30, 2024

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements	3

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	11

Item 3. Quantitative and Qualitative Disclosures About Market Risk	13

Item 4. Controls and Procedures	13

PART II – OTHER INFORMATION	14

Item 1. Legal Proceedings	14

Item 1A. Risk Factors	14

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	14

Item 3. Defaults Upon Senior Securities	14

Item 4. Mine Safety Disclosures	14

Item 5. Other Information	14

Item 6. Exhibits	15

SIGNATURES	16

PART I – FINANCIAL INFORMATION

Item 1.

Financial Statements

NORTHERN MINERALS & EXPLORATION LTD.

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets as of April 30, 2024 (Unaudited) and July 31, 2023 (Audited)	4

Condensed Consolidated Statements of Operations for the Three and Nine Months ended April 30, 2024 and 2023 (Unaudited)	5

Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficit) for the Three and Nine Months ended April 30, 2024 and 2023 (Unaudited)	6

Condensed Consolidated Statements of Cash Flows for the Nine Months ended April 30, 2024 and 2023 (Unaudited)	7

Notes to Condensed Consolidated Financial Statements (Unaudited)	8

NORTHERN MINERALS & EXPLORATION LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS

	April 30,			July 31,
	2024			2023
	(Unaudited)			(Audited)
ASSETS
Current Assets:
Cash	$	41,942		$	6,900
Total Current Assets		41,942			6,900

TOTAL ASSETS	$	41,942		$	6,900

LIABILITIES & STOCKHOLDERS’ DEFICIT

Current Liabilities:
Accounts payable	$	44,351		$	43,364
Accounts payable – related party		26,500			26,500
Accrued liabilities		33,202			27,152
Loans payable - current		86,000			86,000
Total Current Liabilities		190,053			183,016

Loan payable – long term		85,000			85,000

TOTAL LIABILITIES		275,053			268,016

Commitments and Contingencies

Stockholders’ Deficit:
Preferred stock, $0.001 par value, 50,000,000 shares authorized; no shares issued		—			—
Common stock, $0.001 par value, 250,000,000 shares authorized; 98,634,357and 89,059,357 shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively		98,634			89,059
Common stock to be issued		45,000			30,000
Additional paid-in-capital		3,121,718			2,987,668
Accumulated deficit		(3,498,463	)		(3,367,843	)

Total Stockholders’ Deficit		(233,111	)		(261,116	)

TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT	$	41,942		$	6,900

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

NORTHERN MINERALS & EXPLORATION LTD.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	For the Three Months Ended April 30,						For the Nine Months Ended April 30,
	2024			2023			2024			2023
Operating expenses:
Officer compensation	$	6,600		$	6,600		$	19,800		$	19,800
Consulting – related party		18,000			18,000			54,000			54,000
Professional fees		5,750			10,000			28,850			26,500
General and administrative expenses		5,934			7,568			19,370			19,271
Total operating expenses		36,284			42,168			122,020			119,571
Loss from operations		(36,284	)		(42,168	)		(122,020	)		(119,571	)

Other income (expense):
Interest expense		(2,870	)		(1,585	)		(8,600	)		(4,755	)
Other income		—			—			—			1,946
Total other income (expense)		(2,870	)		(1,585	)		(8,600	)		(2,809	)

Loss before provision for income taxes		(39,154	)		(43,753	)		(130,620	)		(122,380	)
Provision for income taxes		—			—			—			—
Net Loss	$	(39,154	)	$	(43,753	)	$	(130,620	)	$	(122,380	)

Net loss per share, basic and diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

Weighted average number of common shares outstanding, basic and diluted		96,082,505			82,509,357			92,163,336			82,509,357

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

NORTHERN MINERALS & EXPLORATION LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

FOR THE THREE AND NINE MONTHS ENDED APRIL 30, 2024 AND 2023

(Unaudited)

	Common		Common Stock		Additional Paid-in		Common Stock To		Accumulated			Total Stockholders’
	Stock		Amount		Capital		be Issued		Deficit			Deficit
Balance, July 31, 2022		82,509,357	$	82,509	$	2,873,468	$	—	$	(3,391,341	)	$	(435,364	)
Net loss		—		—		—		—		(51,756	)		(51,756	)
Balance, October 31, 2022		82,509,357		82,509		2,873,468		—		(3,443,097	)		(487,120	)
Common stock issued for cash		—		—		—		40,000		—			40,000
Common stock issued for cash – related party		—		—		—		10,000		—			10,000
Net loss		—		—		—		—		(26,871	)		(26,871	)
Balance, January 31, 2023		82,509,357		82,509		2,873,468		50,000		(3,469,968	)		(463,991	)
Common stock issued for cash		—		—		—		40,000					40,000
Net loss		—		—		—				(43,753	)		(43,753	)
Balance, April 30, 2023		82,509,357	$	82,509	$	2,873,468	$	90,000	$	(3,513,721	)	$	(467,744	)

	Common		Common Stock		Additional Paid-in		Common Stock To			Accumulated			Total Stockholders’
	Stock		Amount		Capital		be Issued			Deficit			Deficit
Balance, July 31, 2023		89,059,357	$	89,059	$	2,987,668	$	30,000		$	(3,367,843	)	$	(261,116	)
Common stock issued for cash – related party		—		—		—		25,000			—			25,000
Net loss		—		—		—		—			(61,690	)		(61,690	)
Balance, October 31, 2023		89,059,357		89,059		2,987,668		55,000			(3,429,533	)		(297,806	)
Common stock issued for cash – related party		2,666,666		2,666		37,334		—			—			40,000
Common stock issued for cash		1,575,000		1,575		22,050		—			—			23,625
Net loss		—		—		—		—			(29,776	)		(29,776	)
Balance, January 31, 2024		93,301,023		93,300		3,047,052		55,000			(3,459,309	)		(263,957	)
Common stock issued for cash – related party		5,000,001		5,001		69,999		(30,000	)		—			45,000
Common stock issued for cash		333,333		333		4,667		20,000			—			25,000
Net loss		—		—		—		—			(39,154	)		(39,154	)
Balance, April 30, 2024		98,634,357	$	98,634	$	3,121,718	$	45,000		$	(3,498,463	)	$	(233,111	)

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

NORTHERN MINERALS & EXPLORATION LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Nine Months Ended April 30,
	2024			2023
Cash Flows from Operating Activities:
Net loss	$	(130,620	)	$	(122,380	)
Adjustments to reconcile net loss to net cash used in Operating activities:
Changes in Operating Assets and Liabilities:
Accounts payables and accrued liabilities		987			10,000
Accounts payable – related party		—			(1,900	)
Accrued liabilities		6,050			4,755
Net cash used in operating activities		(123,583	)		(109,525	)

Cash Flows used in Investing Activities:		—			—

Cash Flows from Financing Activities:
Proceeds from loan payable – related party		—			5,000
Repayment of loan payable – related party					(5,000	)
Proceeds from the sale of common stock – related party		110,000			10,000
Proceeds from the sale of common stock		48,625			80,000
Net cash provided by financing activities		158,625			90,000

Net change in cash		35,042			(19,525	)

Cash at beginning of the period		6,900			25,813
Cash at end of the period	$	41,942		$	6,288

Cash paid during the period for:
Interest	$	2,550		$	—
Taxes	$	—		$	—

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

Northern Minerals & Exploration Ltd.

Notes to Unaudited Condensed Consolidated Financial Statements

April 30, 2024

NOTE 1 — ORGANIZATION AND BUSINESS OPERATIONS

Northern Minerals & Exploration Ltd. (the “Company”) is an emerging natural resource company operating in oil and gas production in central Texas and exploration for gold and silver in northern Nevada.

The Company was incorporated in Nevada on December 11, 2006 under the name Punchline Entertainment, Inc. On August 22, 2012, the Company’s board of directors approved an agreement and plan of merger to effect a name change of the Company from Punchline Entertainment, Inc. to Punchline Resources Ltd. On July 12, 2013, the stockholders approved an amendment to change the name of the Company from Punchline Resources Ltd. to Northern Mineral & Exploration Ltd. FINRA approved the name change on August 13, 2013.

On November 22, 2017, the Company created a wholly owned subsidiary, Kathis Energy LLC (“Kathis”) for the purpose of conducting oil and gas drilling programs in Texas.

On December 14, 2017, Kathis Energy, LLC and other Limited Partners, created Kathis Energy Fund 1, LP, a limited partnership created for raising investor funds.

On May 7, 2018, the Company created ENMEX LLC, a wholly owned subsidiary in Mexico, for the purposes of managing and operating its investments in Mexico including but not limited to the Joint Venture opportunity being negotiated with Pemer Bacalar on the 61 acres on the Bacalar Lagoon on the Yucatan Peninsula. There was no activity from inception to date.

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending July 31, 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2023.

Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

Cash and Cash Equivalents

The Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less as cash and cash equivalents. The carrying amount of financial instruments included in cash and cash equivalents approximates fair value because of the short maturities for the instruments held. The Company had no cash equivalents as of April 30, 2024 and July 31, 2023.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Kathis Energy LLC, Kathis Energy Fund 1, LLP and Enmex Operations LLC. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated.

Revision for Correction of Immaterial Error

In the first quarter of FY 2024, a deposit of $8,000 was incorrectly recorded to common stock to be issued. The error was discovered in the second quarter and corrected by debiting common stock to be issued and crediting expense. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, “Materiality,” and SAB No. 108, “Considering the Effects of Prior Period Misstatements when Quantifying Misstatements in Current Period Financial Statements,” the Company evaluated the error and determined that the related impact did not materially misstate previously issued consolidated financial statements. The error was considered to be immaterial and therefore no restatement required.

Mineral Property Acquisition and Exploration Costs

Mineral property acquisition and exploration costs are expensed as incurred until such time as economic reserves are quantified. Cost of lease, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. We have chosen to expense all mineral exploration costs as incurred given that it is still in the exploration stage. Once our company has identified proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it would enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs will be amortized over the estimated life of the probable-proven reserves. When our company has capitalized mineral properties, these properties will be periodically assessed for impairment of value and any diminution in value.

Oil and Gas Properties

The Company follows the successful efforts method of accounting for its oil and gas properties. Under this method of accounting, all property acquisition costs and costs of exploratory and development wells are capitalized when incurred, pending determination of whether the well found proved reserves. If an exploratory well does not find proved reserves, the costs of drilling the well are charged to expense. The costs of development wells are capitalized whether those wells are successful or unsuccessful. Other exploration costs, including certain geological and geophysical expenses and delay rentals for oil and gas leases, are charged to expense as incurred. Maintenance and repairs are charged to expense, and renewals and betterments are capitalized to the appropriate property and equipment accounts. Depletion and amortization of oil and gas properties are computed on a well-by-well basis using the units-of-production method. Although the Company has recognized minimal levels of production and revenue in the past, none of its property have proved reserves. Therefore, the Company’s properties are designated as unproved properties.

Unproved property costs are not subject to amortization and consist primarily of leasehold costs related to unproved areas. Unproved property costs are transferred to proved properties if the properties are subsequently determined to be productive and are assigned proved reserves. Proceeds from sales of partial interest in unproved leases are accounted for as a recovery of cost without recognizing any gain until all cost is recovered. Unproved properties are assessed periodically for impairment based on remaining lease terms, drilling results, reservoir performance, commodity price outlooks or future plans to develop acreage.

Asset Retirement Obligation

Accounting Standards Codification (“ASC”) Topic 410, Asset Retirement and Environmental Obligations (“ASC 410”) requires an entity to recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred. The net estimated costs are discounted to present values using credit-adjusted, risk-free rate over the estimated economic life of the oil and gas properties. Such costs are capitalized as part of the related asset. The asset is depleted on the equivalent unit-of-production method based upon estimates of proved oil and natural gas reserves. The liability is periodically adjusted to reflect (1) new liabilities incurred, (2) liabilities settled during the period, (3) accretion expense and (4) revisions to estimated future cash flow requirements.

Basic and Diluted Earnings Per Share

Net income (loss) per common share is computed pursuant to ASC 260-10-45, Earnings per Share—Overall—Other Presentation Matters. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period.

For the three and nine months ended April 30, 2024 and 2023, the Company had no potentially dilutive shares of common stock.

Recently issued accounting pronouncements

The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

NOTE 3 — GOING CONCERN

The accompanying unaudited financial statements are prepared and presented on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, they do not include any adjustments relating to the realization of the carrying value of assets or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Since inception to April 30, 2024, the Company has an accumulated deficit of $3,498,463. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the next twelve months. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 4 — LOANS PAYABLE

On April 16, 2017, the Company executed a promissory note for $15,000 with a third party. The note matures in two years and interest is set at $3,000 for the full two years. As of July 31, 2023, there is $15,000 and $8,250 of principal and accrued interest, respectively, due on this loan. As of April 30, 2024, there was $15,000 and $9,000 of principal and accrued interest, respectively, due on this loan. This loan is currently in default.

On June 11, 2020, a third party loaned the Company $14,000. On March 3, 2021, the party loaned another $5,000 to the Company. During the year ended July 31, 2022, the Company repaid $15,000 of the loan. During the year ended July 31, 2023, the Company borrowed an additional $7,000. The loan is unsecured, non-interest bearing and due on demand. As of April 30, 2024, there is a balance due of $11,000.

During the year ended July 31, 2020, a third party loaned the Company $60,000. The loan is unsecured, bears interest at 8% per annum and matures on September 1, 2021. As of April 30, 2024, there is $22,055 of interest accrued on this note. This note is in default.

On June 1, 2023, the Company issued a Promissory Note to Golden Sands Exploration Inc, for $85,000. The note bears interest at 6% and matures on June 1, 2026. Interest is to be paid quarterly with the first payment due on or before September 1, 2023. As of April 30, 2024, there is $2,159 of interest accrued on this note.

NOTE 5 — COMMON STOCK TRANSACTION

During the nine months ended April 30, 2024, the Company sold 3,241,666 shares of common stock, for total cash proceeds of $48,625. As of April 30, 2024, 1,666,666 shares have not yet been issued by the transfer agent and are disclosed as $25,000 of common stock to be issued.

Refer to Note 6 for shares sold to a related party.

NOTE 6 — RELATED PARTY TRANSACTIONS

For the nine months ended April 30, 2024 and 2023, total payments of $54,000 and $54,000, respectively, were made to Noel Schaefer, a Director of the Company, for consulting services. As of April 30, 2024 and July 31, 2023, there is $26,500 and $30,500 credited to accounts payable.

On August 28, 2023, Mr. Miranda, director, purchased 1,666,667 shares of common stock for $25,000. The shares were issued by the transfer agent on March 15, 2024. In addition, Mr. Miranda also received 1,666,667 shares of common stock that were purchased and due from a prior period.

On November 15, 2023, Mr. Miranda, purchased 1,333,333 shares of common stock, for total cash proceeds of $20,000.

On December 20, 2023, Mr. Miranda purchased 1,333,333 shares of common stock, for total cash proceeds of $20,000.

On February 2, 2024, Mr. Miranda, purchased 1,333,333 shares of common stock, for total cash proceeds of $20,000. As of April 30, 2024, 1,333,333 shares have not yet been issued by the transfer agent and are disclosed as $20,000 of common stock to be issued.

On March 12, 2024, Mr. Miranda, purchased 1,666,667 shares of common stock, for total cash proceeds of $25,000.

NOTE 7 — SUBSEQUENT EVENTS

Management has evaluated subsequent events pursuant to the requirements of ASC Topic 855, from the balance sheet date through the date the financial statements were issued and has determined that there are no material subsequent events to disclose in these financial statements other than the following.

Subsequent to April 30, 2024, the Company sold a total of 3,666,667 shares of common stock at $0.015 per share for total proceeds of $55,000.

Subsequent to April 30, 2024, the Company issued a total of 3,000,000 shares of common stock that were sold in the prior period and disclosed as common stock to be issued.

Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This report on Form 10-Q contains certain forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of these provisions, including any projections of earnings, revenues, or other financial items; any statements of the plans, strategies, and objectives of management for future operation; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief; and any statement of assumptions underlying any of the foregoing. Such forward-looking statements are subject to inherent risks and uncertainties, and actual results could differ materially from those anticipated by the forward-looking statements.

These forward-looking statements involve significant risks and uncertainties, including, but not limited to, the following: competition, promotional costs and the risk of declining revenues. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of a number of factors. These forward-looking statements are made as of the date of this filing, and we assume no obligation to update such forward-looking statements. The following discusses our financial condition and results of operations based upon our unaudited financial statements which have been prepared in conformity with accounting principles generally accepted in the United States. It should be read in conjunction with our financial statements and the notes thereto included elsewhere herein.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results.

As used in this quarterly report, the terms “we”, “us”, “our” and “our company” mean Northern Minerals & Exploration Ltd., unless otherwise indicated.

General Overview

We are an emerging natural resource company operating in oil and gas production in central Texas and exploration for gold and silver in northern Nevada.

Results of Operations

Results of Operations for the Three Months Ended April 30, 2024 Compared to the Three Months Ended April 30, 2023

Revenue

We had no revenue for the three months ended April 30, 2024 and 2023.

Officer compensation

Officer compensation was $6,600 and $6,600 for the three months ended April 30, 2024 and 2023, respectively. Officer compensation is paid to our CFO.

Consulting – related party

Consulting – related party services were $18,000 and $18,000 for the three months ended April 30, 2024 and 2023, respectively. Fees are paid to Noel Schaefer, Director, but are recorded as consulting fees.

Professional fees

Professional fees were $5,750 and $10,000 for the three months ended April 30, 2024 and 2023, respectively, a decrease of $4,250. Professional fees generally consist of legal, audit and accounting expenses. In the current period we had a $5,000 decrease in audit fees, offset with $750 for legal fees.

General and administrative

General and administrative expenses were $5,934 and $7,568 for the three months ended April 30, 2024 and 2023, respectively, a decrease of $1,634 or 21.6%.

Interest expense

During the three months ended April 30, 2024 and 2023, we had interest expense of $2,870 and $1,585, respectively.

Net Loss

For the three months ended April 30, 2024, we had a net loss of $39,154 as compared to a net loss of $43,753 for the three months ended April 30, 2023 a decrease of $4,599 or 10.5%. The decrease is due to the reasons discussed above.

Results of Operations for the Nine Months Ended April 30, 2024 Compared to the Nine Months Ended April 30, 2023

Revenue

We had no revenue for the nine months ended April 30, 2024 and 2023.

Officer compensation

Officer compensation was $19,800 and $19,800 for the nine months ended April 30, 2024 and 2023, respectively. Officer compensation is paid to our CFO.

Consulting – related party

Consulting – related party services were $54,000 and $54,000 for the nine months ended April 30, 2024 and 2023, respectively. Fees are paid to Noel Schaefer, Director, but are recorded as consulting fees.

Professional fees

Professional fees were $28,850 and $26,500 for the nine months ended April 30, 2024 and 2023, respectively, an increase of $2,350 or 8.9%. Professional fees generally consist of legal, audit and accounting expenses. In the current period we incurred an additional $1,000 for auditor fees and $1,350 for legal fees.

General and administrative

General and administrative expenses were $19,370 and $19,271 for the nine months ended April 30, 2024 and 2023, respectively, an increase of $99 or 0.5%.

Interest expense

During the nine months ended April 30, 2024 and 2023, we had interest expense of $8,600 and $4,755 respectively. We also had $1,946 of other income in the prior period.

Net Loss

For the nine months ended April 30, 2024, we had a net loss of $130,620 as compared to a net loss of $122,380 for the nine months ended April 30, 2023 an increase of $8,240 or 6.7%. The increase is due to the reasons discussed above.

Liquidity and Financial Condition

Operating Activities

Cash used by operating activities was $123,583 for the nine months ended April 30, 2024. Cash used for operating activities was $109,525 for the nine months ended April 30, 2023.

Financing Activities

Net cash provided by financing activities was $158,625 for the nine months ended April 30, 2024. We received $158,625 from the sale of our common stock, $110,000 of which was from a related party.

We had the following loans outstanding as of April 30, 2024:

On April 16, 2017, the Company executed a promissory note for $15,000 with a third party. The note matures in two years and interest is set at $3,000 for the full two years. As of July 31, 2023, there is $15,000 and $8,250 of principal and accrued interest, respectively, due on this loan. As of April 30 2024, there was $15,000 and $9,000 of principal and accrued interest, respectively, due on this loan. This loan is currently in default.

We will require additional funds to fund our budgeted expenses over the next twelve months. These funds may be raised through equity financing, debt financing, or other sources, which may result in further dilution in the equity ownership of our shares. There is still no assurance that we will be able to maintain operations at a level sufficient for an investor to obtain a return on his investment in our common stock. Further, we may continue to be unprofitable. We need to raise additional funds in the immediate future in order to proceed with our budgeted expenses.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

Critical Accounting Policies

Refer to Note 2 of our financial statements contained elsewhere in this Form 10-Q for a summary of our critical accounting policies and recently adopted and issued accounting standards.

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

Item 4.

Controls and Procedures

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms and that such information is accumulated and communicated to our management, including our chief executive officer and chief financial officer (our principal executive officer, principal financial officer and principal accounting officer), as appropriate to allow timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with the participation of our management, including our chief executive officer and chief financial officer (our principal executive officer, principal financial officer and principal accounting officer), of the effectiveness of the design and operation of our disclosure controls and procedures as of quarter covered by this report. Based on the evaluation of these disclosure controls and procedures the chief executive officer and chief financial officer (our principal executive officer, principal financial officer and principal accounting officer) concluded that our disclosure controls and procedures were not effective.

Changes in Internal Controls

During the quarter covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1.

Legal Proceedings

We know of no material, existing or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our company.

Item 1A.

Risk Factors

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

On February 2, 2024, Mr. Miranda purchased 1,333,333 shares of common stock, for total cash proceeds of $20,000. As of April 30, 2024, 1,333,333 shares have not yet been issued by the transfer agent and are disclosed as $20,000 of common stock to be issued.

On March 12, 2024, Mr. Miranda purchased 1,666,667 shares of common stock, for total cash proceeds of $25,000.

Subsequent to April 30, 2024, the Company sold a total of 3,666,667 shares of common stock at $0.015 per share for total proceeds of $55,000.

All proceeds from the sale of common stock are being used for general operating expenses.

Item 3.

Defaults Upon Senior Securities

None.

Item 4.

Mine Safety Disclosures

Not applicable.

Item 5.

Other Information

None.

Item 6.

Exhibits

Exhibit Number		Exhibit Description

31.1*		Section 302 Certification under Sarbanes-Oxley Act of 2002.
31.2*		Section 302 Certification under Sarbanes-Oxley Act of 2002.
32.1*		Section 906 Certification under Sarbanes-Oxley Act of 2002.
(101)**		Interactive Data File
101.INS		iXBRL Instance Document
101.SCH		iXBRL Taxonomy Extension Schema Document.
101.CAL		iXBRL Taxonomy Extension Calculation Link base Document.
101.DEF		iXBRL Taxonomy Extension Definition Link base Document.
101.LAB		iXBRL Taxonomy Extension Label Link base Document.
101.PRE		iXBRL Taxonomy Extension Presentation Link base Document.

*	(a) Filed herewith.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NORTHERN MINERALS & EXPLORATION LTD.
	(Registrant)

Dated: June 13, 2024	/s/ Ivan Webb
	Ivan Webb
	Chief Executive Officer

	/s/ Noel Schaefer
	Noel Schaefer
	Chief Operating Officer and Director

	/s/ Rachel Boulds
	Rachel Boulds
	Chief Financial Officer

	/s/ Victor Miranda
	Victor Miranda
	Director

EXHIBIT 31.1

Certification of Chief Financial Officer Pursuant to

Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d –14(a)

I, Rachel Boulds, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q for the quarter ended April 30, 2024, for Northern Minerals & Exploration Ltd. (the “registrant”);

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared;

Designed such internal controls over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Rachel Boulds

Rachel Boulds

Chief Financial Officer

Date: June 13, 2024

EXHIBIT 31.2

Certification of Chief Executive Officer Pursuant to

Section 302 of the Sarbanes-Oxley Act of 2002-Rule 13a-14(a)/15d –14(a)

I, Ivan Webb, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q for the quarter ended April 30, 2024, for Northern Minerals & Exploration Ltd. (the “registrant”);

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

5.	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ Ivan Webb

Ivan Webb

Chief Executive Officer

Date: June 13, 2024

EXHIBIT 32.1

Certification of Periodic Financial Reports

Pursuant to 18 U.S.C. Section 1350

as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

The undersigned hereby certify that they are the duly appointed and acting Chief Executive Officer and Chief Financial Officer of Northern Minerals & Exploration Ltd., and hereby further certify as follows:

The periodic report containing financial statements to which this certificate is an exhibit fully complies with the requirements of Section 13(a) or 15 (d) of the Securities Exchange Act of 1934.

The information contained in the periodic report to which this certificate is an exhibit fairly presents, in all material respects, the financial condition and results of operations of the Corporation.

In witness whereof, the undersigned have executed and delivered this certificate as of the date set forth opposite their signatures below.

Date: June 13, 2024						/s/ Ivan Webb
						Ivan Webb
						Chief Executive Officer

Date: June 13, 2024						/s/ Rachel Boulds
						Rachel Boulds
						Chief Financial Officer

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Apr. 30, 2024	Jun. 07, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	333-146934
Entity Registrant Name	NORTHERN MINERALS & EXPLORATION LTD.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	98-0557171
Entity Address, Address Line One	1267 N 680 W
Entity Address, City or Town	Pleasant Grove
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84062
City Area Code	801
Local Phone Number	885-9260
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		104,967,690
Entity Central Index Key	0001415744
Current Fiscal Year End Date	--07-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Apr. 30, 2024	Jul. 31, 2023
Current Assets:
Cash	$ 41,942	$ 6,900
Total Current Assets	41,942	6,900
TOTAL ASSETS	41,942	6,900
Current Liabilities:
Accrued liabilities	33,202	27,152
Loans payable - current	86,000	86,000
Total Current Liabilities	190,053	183,016
Loan payable – long term	85,000	85,000
TOTAL LIABILITIES	275,053	268,016
Commitments and Contingencies
Stockholders’ Deficit:
Preferred stock, $0.001 par value, 50,000,000 shares authorized; no shares issued	0	0
Common stock, $0.001 par value, 250,000,000 shares authorized; 98,634,357 and 89,059,357 shares issued and outstanding as of April 30, 2024 and July 31, 2023, respectively	98,634	89,059
Common stock to be issued	45,000	30,000
Additional paid-in-capital	3,121,718	2,987,668
Accumulated deficit	(3,498,463)	(3,367,843)
Total Stockholders’ Deficit	(233,111)	(261,116)
TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT	41,942	6,900
Nonrelated Party [Member]
Current Liabilities:
Accounts payable	44,351	43,364
Related Party [Member]
Current Liabilities:
Accounts payable	$ 26,500	$ 26,500

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Apr. 30, 2024	Jul. 31, 2023
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized (in shares)	250,000,000	250,000,000
Common Stock, Shares, Outstanding (in shares)	98,634,357
Common Stock, Shares, Issued (in shares)		89,059,357

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ / shares in Thousands	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Operating expenses:
Officer compensation	$ 6,600	$ 6,600	$ 19,800	$ 19,800
Consulting – related party	18,000	18,000	54,000	54,000
Professional fees	5,750	10,000	28,850	26,500
General and administrative expenses	5,934	7,568	19,370	19,271
Total operating expenses	36,284	42,168	122,020	119,571
Loss from operations	(36,284)	(42,168)	(122,020)	(119,571)
Other income (expense):
Interest expense	(2,870)	(1,585)	(8,600)	(4,755)
Other income	0	0	0	1,946
Total other income (expense)	(2,870)	(1,585)	(8,600)	(2,809)
Loss before provision for income taxes	(39,154)	(43,753)	(130,620)	(122,380)
Provision for income taxes	0	0	0	0
Net Loss	$ (39,154)	$ (43,753)	$ (130,620)	$ (122,380)
Net loss per share, basic and diluted (in dollars per share)	$ (0)	$ (0)	$ (0)	$ (0)
Weighted average number of common shares outstanding, basic and diluted (in shares)	96,082,505	82,509,357	92,163,336	82,509,357

Condensed Consolidated Statement of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock Outstanding [Member] Related Party [Member]	Common Stock Outstanding [Member] Nonrelated Party [Member]	Common Stock Outstanding [Member]	Common Stock [Member] Related Party [Member]	Common Stock [Member] Nonrelated Party [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Related Party [Member]	Additional Paid-in Capital [Member] Nonrelated Party [Member]	Additional Paid-in Capital [Member]	Common Stock to be Issued [Member] Related Party [Member]	Common Stock to be Issued [Member] Nonrelated Party [Member]	Common Stock to be Issued [Member]	Retained Earnings [Member] Related Party [Member]	Retained Earnings [Member] Nonrelated Party [Member]	Retained Earnings [Member]	Related Party [Member]	Nonrelated Party [Member]	Total
Balance, July 31, 2022 (in shares) at Jul. 31, 2022			82,509,357
Balance, July 31, 2022 at Jul. 31, 2022						$ 82,509			$ 2,873,468			$ 0			$ (3,391,341)			$ (435,364)
Net loss						0			0			0			(51,756)			(51,756)
Balance, October 31, 2022 (in shares) at Oct. 31, 2022			82,509,357
Balance, October 31, 2022 at Oct. 31, 2022						82,509			2,873,468			0			(3,443,097)			(487,120)
Balance, July 31, 2022 (in shares) at Jul. 31, 2022			82,509,357
Balance, July 31, 2022 at Jul. 31, 2022						82,509			2,873,468			0			(3,391,341)			(435,364)
Net loss																		(122,380)
Balance, October 31, 2022 (in shares) at Apr. 30, 2023			82,509,357
Balance, October 31, 2022 at Apr. 30, 2023						82,509			2,873,468			90,000			(3,513,721)			(467,744)
Balance, July 31, 2022 (in shares) at Oct. 31, 2022			82,509,357
Balance, July 31, 2022 at Oct. 31, 2022						82,509			2,873,468			0			(3,443,097)			(487,120)
Net loss						0			0			0			(26,871)			(26,871)
Common stock issued for cash (in shares)	0	0
Common stock issued for cash				$ 0	$ 0		$ 0	$ 0		$ 10,000	$ 40,000		$ 0	$ 0		$ 10,000	$ 40,000
Balance, October 31, 2022 (in shares) at Jan. 31, 2023			82,509,357
Balance, October 31, 2022 at Jan. 31, 2023						82,509			2,873,468			50,000			(3,469,968)			(463,991)
Net loss															(43,753)			(43,753)
Common stock issued for cash											40,000						40,000
Balance, October 31, 2022 (in shares) at Apr. 30, 2023			82,509,357
Balance, October 31, 2022 at Apr. 30, 2023						82,509			2,873,468			90,000			(3,513,721)			(467,744)
Balance, July 31, 2022 (in shares) at Jul. 31, 2023			89,059,357
Balance, July 31, 2022 at Jul. 31, 2023						89,059			2,987,668			30,000			(3,367,843)			(261,116)
Net loss						0			0			0			(61,690)			(61,690)
Common stock issued for cash (in shares)	0
Common stock issued for cash				0			0			25,000			0			25,000
Balance, October 31, 2022 (in shares) at Oct. 31, 2023			89,059,357
Balance, October 31, 2022 at Oct. 31, 2023						89,059			2,987,668			55,000			(3,429,533)			(297,806)
Balance, July 31, 2022 (in shares) at Jul. 31, 2023			89,059,357
Balance, July 31, 2022 at Jul. 31, 2023						89,059			2,987,668			30,000			(3,367,843)			(261,116)
Net loss																		(130,620)
Balance, October 31, 2022 (in shares) at Apr. 30, 2024			98,634,357
Balance, October 31, 2022 at Apr. 30, 2024						98,634			3,121,718			45,000			(3,498,463)			(233,111)
Balance, July 31, 2022 (in shares) at Oct. 31, 2023			89,059,357
Balance, July 31, 2022 at Oct. 31, 2023						89,059			2,987,668			55,000			(3,429,533)			(297,806)
Net loss						0			0			0			(29,776)			(29,776)
Common stock issued for cash (in shares)	2,666,666	1,575,000
Common stock issued for cash				2,666	1,575		37,334	22,050		0	0		0	0		40,000	23,625
Balance, October 31, 2022 (in shares) at Jan. 31, 2024			93,301,023
Balance, October 31, 2022 at Jan. 31, 2024						93,300			3,047,052			55,000			(3,459,309)			(263,957)
Net loss						0			0			0			(39,154)			(39,154)
Common stock issued for cash (in shares)	5,000,001	333,333
Common stock issued for cash				$ 5,001	$ 333		$ 69,999	$ 4,667		$ (30,000)	$ 20,000		$ 0	$ 0		$ 45,000	$ 25,000
Balance, October 31, 2022 (in shares) at Apr. 30, 2024			98,634,357
Balance, October 31, 2022 at Apr. 30, 2024						$ 98,634			$ 3,121,718			$ 45,000			$ (3,498,463)			$ (233,111)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash Flows from Operating Activities:
Net loss	$ (130,620)	$ (122,380)
Changes in Operating Assets and Liabilities:
Accrued liabilities	6,050	4,755
Net cash used in operating activities	(123,583)	(109,525)
Cash Flows used in Investing Activities:	0	0
Cash Flows from Financing Activities:
Proceeds from loan payable – related party	0	5,000
Repayment of loan payable – related party		5,000
Net cash provided by financing activities	158,625	90,000
Net change in cash	35,042	(19,525)
Cash at beginning of the period	6,900	25,813
Cash at end of the period	41,942	6,288
Cash paid during the period for:
Interest	2,550	0
Taxes	0	0
Nonrelated Party [Member]
Changes in Operating Assets and Liabilities:
Accounts payables and accrued liabilities	987	10,000
Cash Flows from Financing Activities:
Proceeds from the sale of common stock – related party	48,625	80,000
Related Party [Member]
Changes in Operating Assets and Liabilities:
Accounts payables and accrued liabilities	0	(1,900)
Cash Flows from Financing Activities:
Proceeds from the sale of common stock – related party	$ 110,000	$ 10,000

Note 1 - Organization and Business Operations

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1 — ORGANIZATION AND BUSINESS OPERATIONS

On November 22, 2017, the Company created a wholly owned subsidiary, Kathis Energy LLC (“Kathis”) for the purpose of conducting oil and gas drilling programs in Texas.

On December 14, 2017, Kathis Energy, LLC and other Limited Partners, created Kathis Energy Fund 1, LP, a limited partnership created for raising investor funds.

Note 2 - Significant Accounting Policies

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Significant Accounting Policies [Text Block]

NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

Use of estimates

Cash and Cash Equivalents

Principles of Consolidation

Revision for Correction of Immaterial Error

Mineral Property Acquisition and Exploration Costs

Oil and Gas Properties

Asset Retirement Obligation

Basic and Diluted Earnings Per Share

For the three and nine months ended April 30, 2024 and 2023, the Company had no potentially dilutive shares of common stock.

Recently issued accounting pronouncements

Note 3 - Going Concern

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Substantial Doubt about Going Concern [Text Block]

NOTE 3 — GOING CONCERN

Note 4 - Loans Payable

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE 4 — LOANS PAYABLE

Note 5 - Common Stock Transaction

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Equity [Text Block]

NOTE 5 — COMMON STOCK TRANSACTION

Refer to Note 6 for shares sold to a related party.

Note 6 - Related Party Transactions

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

NOTE 6 — RELATED PARTY TRANSACTIONS

On November 15, 2023, Mr. Miranda, purchased 1,333,333 shares of common stock, for total cash proceeds of $20,000.

On December 20, 2023, Mr. Miranda purchased 1,333,333 shares of common stock, for total cash proceeds of $20,000.

On March 12, 2024, Mr. Miranda, purchased 1,666,667 shares of common stock, for total cash proceeds of $25,000.

Note 7 - Subsequent Events

9 Months Ended

Apr. 30, 2024

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE 7 — SUBSEQUENT EVENTS

Subsequent to April 30, 2024, the Company sold a total of 3,666,667 shares of common stock at $0.015 per share for total proceeds of $55,000.

Subsequent to April 30, 2024, the Company issued a total of 3,000,000 shares of common stock that were sold in the prior period and disclosed as common stock to be issued.

Insider Trading Arrangements

9 Months Ended

Apr. 30, 2024

Insider Trading Arr Line Items

Material Terms of Trading Arrangement [Text Block]

Item 5.

Other Information

None.

Rule 10b5-1 Arrangement Adopted [Flag]

false

Non-Rule 10b5-1 Arrangement Adopted [Flag]

false

Rule 10b5-1 Arrangement Terminated [Flag]

false

Non-Rule 10b5-1 Arrangement Terminated [Flag]

false

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Apr. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The Company’s unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The accompanying unaudited condensed financial statements reflect all adjustments, consisting of only normal recurring items, which, in the opinion of management, are necessary for a fair statement of the results of operations for the periods shown and are not necessarily indicative of the results to be expected for the full year ending July 31, 2024. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended July 31, 2023.
Use of Estimates, Policy [Policy Text Block]	Use of estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all cash accounts, which are not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less as cash and cash equivalents. The carrying amount of financial instruments included in cash and cash equivalents approximates fair value because of the short maturities for the instruments held. The Company had no cash equivalents as of April 30, 2024 and July 31, 2023.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Kathis Energy LLC, Kathis Energy Fund 1, LLP and Enmex Operations LLC. All financial information has been prepared in conformity with accounting principles generally accepted in the United States of America. All significant intercompany transactions and balances have been eliminated.
Revision for Correction of Immaterial Error [Policy Text Block]	Revision for Correction of Immaterial Error In the first quarter of FY 2024, a deposit of $8,000 was incorrectly recorded to common stock to be issued. The error was discovered in the second quarter and corrected by debiting common stock to be issued and crediting expense. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, “Materiality,” and SAB No. 108, “Considering the Effects of Prior Period Misstatements when Quantifying Misstatements in Current Period Financial Statements,” the Company evaluated the error and determined that the related impact did not materially misstate previously issued consolidated financial statements. The error was considered to be immaterial and therefore no restatement required.
Oil and Gas, Capitalized Exploratory Well Cost [Policy Text Block]	Mineral Property Acquisition and Exploration Costs Mineral property acquisition and exploration costs are expensed as incurred until such time as economic reserves are quantified. Cost of lease, exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. We have chosen to expense all mineral exploration costs as incurred given that it is still in the exploration stage. Once our company has identified proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it would enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs will be amortized over the estimated life of the probable-proven reserves. When our company has capitalized mineral properties, these properties will be periodically assessed for impairment of value and any diminution in value.
Oil and Gas Properties Policy [Policy Text Block]	Oil and Gas Properties The Company follows the successful efforts method of accounting for its oil and gas properties. Under this method of accounting, all property acquisition costs and costs of exploratory and development wells are capitalized when incurred, pending determination of whether the well found proved reserves. If an exploratory well does not find proved reserves, the costs of drilling the well are charged to expense. The costs of development wells are capitalized whether those wells are successful or unsuccessful. Other exploration costs, including certain geological and geophysical expenses and delay rentals for oil and gas leases, are charged to expense as incurred. Maintenance and repairs are charged to expense, and renewals and betterments are capitalized to the appropriate property and equipment accounts. Depletion and amortization of oil and gas properties are computed on a well-by-well basis using the units-of-production method. Although the Company has recognized minimal levels of production and revenue in the past, none of its property have proved reserves. Therefore, the Company’s properties are designated as unproved properties. Unproved property costs are not subject to amortization and consist primarily of leasehold costs related to unproved areas. Unproved property costs are transferred to proved properties if the properties are subsequently determined to be productive and are assigned proved reserves. Proceeds from sales of partial interest in unproved leases are accounted for as a recovery of cost without recognizing any gain until all cost is recovered. Unproved properties are assessed periodically for impairment based on remaining lease terms, drilling results, reservoir performance, commodity price outlooks or future plans to develop acreage.
Asset Retirement Obligation [Policy Text Block]	Asset Retirement Obligation Accounting Standards Codification (“ASC”) Topic 410, Asset Retirement and Environmental Obligations (“ASC 410”) requires an entity to recognize the fair value of a liability for an asset retirement obligation in the period in which it is incurred. The net estimated costs are discounted to present values using credit-adjusted, risk-free rate over the estimated economic life of the oil and gas properties. Such costs are capitalized as part of the related asset. The asset is depleted on the equivalent unit-of-production method based upon estimates of proved oil and natural gas reserves. The liability is periodically adjusted to reflect (1) new liabilities incurred, (2) liabilities settled during the period, (3) accretion expense and (4) revisions to estimated future cash flow requirements.
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Earnings Per Share Net income (loss) per common share is computed pursuant to ASC 260-10-45, Earnings per Share—Overall—Other Presentation Matters. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. For the three and nine months ended April 30, 2024 and 2023, the Company had no potentially dilutive shares of common stock.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently issued accounting pronouncements The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Note 2 - Significant Accounting Policies (Details Textual) - USD ($) shares in Thousands	3 Months Ended			9 Months Ended
	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Common Stock to be Issued	$ 36,284		$ 42,168	$ 122,020	$ 119,571
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0		0	0	0
Revision of Prior Period, Error Correction, Adjustment [Member]
Common Stock to be Issued		$ (8,000)

Note 3 - Going Concern (Details Textual) - USD ($)	Apr. 30, 2024	Jul. 31, 2023
Retained Earnings (Accumulated Deficit)	$ 3,498,463	$ 3,367,843

Note 4 - Loans Payable (Details Textual) - USD ($)	12 Months Ended
Note 4 - Loans Payable (Details Textual) - USD ($)	Jul. 31, 2022	Apr. 30, 2024	Jul. 31, 2023	Jun. 01, 2023	Mar. 03, 2021	Jul. 31, 2020	Jun. 11, 2020	Apr. 16, 2017
Unsecured Debt		$ 11,000	$ 7,000		$ 5,000		$ 14,000
Repayments of Unsecured Debt	$ 15,000
New Option Agreement [Member] \| Winnemucca Mountain Property [Member]
Other Commitment				$ 85,000
Promissory Note [Member]
Notes Payable		15,000	15,000					$ 15,000
Interest Payable		9,000	$ 8,250					$ 3,000
Promissory Note [Member] \| Golden Sands Exploration, Inc [Member]
Interest Payable		2,159
Promissory Note [Member] \| Golden Sands Exploration, Inc [Member] \| Settlement and Promissory Note Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage				6.00%
July 31, 2020 Unsecured Note [Member]
Interest Payable		$ 22,055
Unsecured Debt						$ 60,000
Debt Instrument, Interest Rate, Stated Percentage						8.00%

Note 5 - Common Stock Transaction (Details Textual)		9 Months Ended
Note 5 - Common Stock Transaction (Details Textual)	Apr. 30, 2024 shares	Apr. 30, 2024 USD ($) shares
Sale of Stock, Number of Shares Issued in Transaction \| shares	3,666,667	3,241,666
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary or Equity Investee, Nonoperating Income \| $		$ 48,625
Common Stock, Shares Not Issued \| shares	1,666,666	1,666,666
Common Stock, Value, Not Issued \| $		$ 25,000

Note 6 - Related Party Transactions (Details Textual) - USD ($)								9 Months Ended
	Apr. 30, 2024	Mar. 15, 2024	Mar. 12, 2024	Feb. 02, 2024	Dec. 20, 2023	Nov. 15, 2023	Aug. 28, 2023	Apr. 30, 2024	Apr. 30, 2023	Jul. 31, 2023
Stock Issued During Period, Shares, New Issues	3,000,000
Stock Issued During Period, Value, New Issues	$ 55,000
Common Stock, Shares Not Issued	1,666,666							1,666,666
Common Stock, Value, Not Issued								$ 25,000
Mr Miranda [Member]
Stock Issued During Period, Shares, New Issues			1,666,667
Stock Issued During Period, Value, New Issues			$ 25,000
Mr Miranda [Member] \| Common Stock to be Issued [Member]
Stock Issued During Period, Shares, New Issues		1,666,667		1,333,333	1,333,333	1,333,333	1,666,667
Stock Issued During Period, Value, New Issues				$ 20,000	$ 20,000	$ 20,000	$ 25,000
Common Stock, Shares Not Issued	1,333,333							1,333,333
Common Stock, Value, Not Issued	$ 20,000
Consulting Services [Member] \| Director [Member]
Costs and Expenses								$ 54,000	$ 54,000
Accounts Payable	$ 26,500							$ 26,500		$ 30,500

Note 7 - Subsequent Events (Details Textual)		9 Months Ended
Note 7 - Subsequent Events (Details Textual)	Apr. 30, 2024 USD ($) $ / shares shares	Apr. 30, 2024 $ / shares shares
Sale of Stock, Number of Shares Issued in Transaction	3,666,667	3,241,666
Sale of Stock, Price Per Share \| $ / shares	$ 0.015	$ 0.015
Stock Issued During Period, Value, New Issues \| $	$ 55,000
Stock Issued During Period, Shares, New Issues	3,000,000