9. STOCK OPTIONS AND WARRANTS

Stock Options

On July 15, 2014, the shareholders approved and adopted at the Annual General Meeting the Company's 2014 Stock Option Plan. The purpose of these Plans is to advance the interests of the Corporation, through the grant of Options, by providing an incentive mechanism to foster the interest of eligible persons in the success of the Corporation and its affiliates; encouraging eligible persons to remain with the Corporation or its affiliates; and attracting new Directors, Officers, Employees and Consultants. The aggregate number of Common Shares that may be reserved, allotted and issued pursuant to Options shall not exceed 870,000 shares of common stock, less the aggregate number of shares of common stock then reserved for issuance pursuant to any other share compensation arrangement. For greater certainty, if an Option is surrendered, terminated or expires without being exercised, the Common Shares reserved for issuance pursuant to such Option shall be available for new Options granted under this Plan. The options are deemed as vested and exercisable on issuance and the maximum life of the options granted under this Plan may not exceed 5 years.

At the Annual General Meeting held March 22, 2023, a new 2023 Stock Option Plan was approved. Under the 2023 Stock Option Plan (the "2023 Plan") the Company may grant options to purchase shares of common stock, $0.001 par value per share, of the Company. The stock subject to options granted under the 2023 Plan shall be shares of authorized but unissued or reacquired common stock. The maximum number of shares of common stock of the Company which may be issued and sold under the 2023 Plan shall be 1,550,000, subject to adjustment for stock splits or consolidations with a maximum life of 5 years and vesting at the discretion of the Board of Directors. Management plans to issue all new option grants under the 2023 Plan and to cancel the 2014 Plan once all currently issued options are either exercised or expire.

During the nine-months ended May 31, 2025 the Company did not issue any options.

During the nine-months ended May 31, 2025 and 2024, the Company recorded $0 as stock based compensation expenses.

A summary of the changes in stock options for the nine-months ended May 31, 2025 is presented below:

Options Outstanding

Number of

Options

Weighted

Average

Exercise Price $

Weighted

Average

Remaining Life

(Years)

Aggregate

Intrinsic Value $

Balance, August 31, 2023

407,500

1.73

Issued

Expired

Exercised

Balance, August 31, 2024

407,500

1.73

Issued

Expired

Exercised

Balance, May 31, 2025 (Outstanding & Exercisable)

407,500

1.73

1.16

18,863

The Company has the following options outstanding and exercisable as at May 31, 2025:

Issue Date	Expiry Date	Exercise Price	Number of Options	Remaining Life (Years)
14-Dec-20	14-Dec-25	1.00	105,000	0.54
28-Jan-21	28-Jan-26	2.80	100,000	0.66
4-Feb-21	4-Feb-26	3.60	5,000	0.68
5-Feb-21	5-Feb-26	3.60	15,000	0.68
27-Apr-21	27-Apr-26	2.40	5,000	0.91
28-May-21	28-May-26	2.40	2,500	0.99
1-Sep-21	1-Sep-26	1.60	25,000	1.25
6-Dec-21	6-Dec-26	1.40	50,000	1.52
18-Aug-22	18-Aug-27	1.20	100,000	2.22
Balance outstanding and exercisable			407,500	1.16

Warrants

During the period ended May 31, 2025, 1,040,000 whole warrants were issued as part of units issued in the private placement that closed during May 2025, and 74,000 whole broker warrants. The warrants expire on May 8, 2027, with an exercise price of $0.10 during the 24-month period. The warrants were valued at $97,184 and $6,915, respectively, and included in additional paid in capital. As of May 31, 2025, the intrinsic value of the warrants was $30,078.

Issue Date	Expiry Date	Exercise Price $	Number of Warrants*	Weighted Average Life (Years)	Intrinsic Value $
8-May-25	8-May-27	0.100	1,114,000	1.93	30,078
		0.100	1,114,000	1.93	30,078
*Each warrant entitles a holder to purchase one common share.

There were no warrants outstanding as of August 31, 2024.