| 12. INCOME TAXES |
12.INCOME TAXES
The income tax provision differs from income taxes, which would result from applying the expected tax rate to net loss before income taxes. The following table reconciles the expected income tax expenses (recovery) at the Canadian statutory tax rate to the amounts recognized in the statements of financial position and net loss and comprehensive loss for the years ended January 31, 2026, 2025 and 2024:
| 2026
| 2025
| 2024
|
|
|
|
|
|
|
|
Loss before income taxes
| $
| (918,474)
| $
| (633,173)
| $
| (523,905)
|
Canadian statutory income tax rate
|
| 27.0%
|
| 27.0%
|
| 27.0%
|
Computed “expected” income tax expense
|
| (247,988)
|
| (170,957)
|
| (141,454)
|
|
|
|
|
|
|
|
Differences resulting from:
|
|
|
|
|
|
|
Option based payments
|
| 159,233
|
| 60,314
|
| 11,364
|
Other items
|
| 161,755
|
| 3,643
|
| 90
|
Change in deferred tax assets not recognized
|
| (73,000)
|
| 107,000
|
| 130,000
|
|
|
|
|
|
|
|
Provision for income tax expense
| $
| -
| $
| -
| $
| -
|
The unrecognized deductible temporary differences are as follows:
| 2026
| 2025
| 2024
|
Unrecognized deductible temporary differences-Canada
|
|
|
|
|
|
Non-capital loss carry forwards
| $ 11,860,000
| $ 12,129,000
| $ 11,735,000
|
Exploration and evaluation asset costs
| 34,926,000
| 34,926,000
| 34,926,000
|
|
|
|
|
Total Unrecognized deductible temporary differences not recognized
| $ 46,786,000
| $ 47,055,000
| $ 46,661,000
|
The Company has Canadian non-capital loss carry forwards which expire as follows:
|
| |
2027
| $
| 808,472
|
2028
|
| 942,980
|
2029
|
| 466,936
|
2030
|
| 957,373
|
2031
|
| 974,551
|
2032
|
| 876,759
|
2033
|
| 910,383
|
2034
|
| 908,862
|
2035
|
| 606,902
|
2036
|
| 488,504
|
2037
|
| 366,614
|
2038
|
| 336,016
|
2039
|
| 205,817
|
2040
|
| 522,300
|
2041
|
| 406,645
|
2042
|
| 416,062
|
2043
|
| 457,565
|
2044
|
| 477,091
|
2045
|
| 405,078
|
2046
|
| 324,597
|
|
|
|
Total
| $
| 11,859,507
|
Deferred tax assets have not been recognized in these Financial Statements because at this stage of the Company’s development, it is not determinable that future taxable profit will be available against which the Company can utilize such deferred tax assets.
|