Northern Minerals & Exploration Ltd. Reports Increased Net Loss and Asset Growth in Latest Financial Results

Northern Minerals & Exploration Ltd. reported its financial results for the three and nine months ended April 30, 2025, revealing a net loss of $68,062 for the quarter, compared to a loss of $39,154 in the same period last year, marking an increase of 73.8%. For the nine-month period, the company recorded a net loss of $184,859, up from $130,620 in the prior year, reflecting a 41.5% increase. The company did not generate any revenue during either period, and total operating expenses rose significantly, driven primarily by increased professional fees and general administrative costs.

The company's total assets as of April 30, 2025, amounted to $323,932, a substantial increase from $53,139 reported on July 31, 2024. This growth was largely attributed to the acquisition of oil and gas properties, which were valued at $292,200 following a purchase agreement with Lost Creek Acquisitions, LLC. The transaction included a cash payment of $25,000 and the issuance of 4,000,000 shares of common stock, valued at $267,200. This acquisition marks a strategic development for the company as it expands its operations in the oil and gas sector.

In terms of liabilities, Northern Minerals reported total liabilities of $348,557 as of April 30, 2025, compared to $270,970 at the end of the previous fiscal year. The increase in liabilities was primarily due to the company's ongoing financing activities, including loans payable and accrued liabilities. The company’s stockholders’ deficit improved to $(24,625) from $(217,831) as of July 31, 2024, indicating a reduction in the deficit despite ongoing losses.

Operationally, the company has maintained a consistent headcount, with no significant changes reported in employee numbers. However, the company has seen an increase in consulting fees, with related party consulting expenses totaling $56,650 for the nine months ended April 30, 2025, compared to $54,000 in the prior year. The company continues to rely on equity financing to support its operations, raising $125,000 through financing activities in the current period, down from $158,625 in the previous year.

Looking ahead, Northern Minerals & Exploration Ltd. acknowledges the challenges it faces, including the need for additional funding to support its capital expenditures and working capital requirements. The company has expressed intentions to continue pursuing equity financing arrangements, although it cautions that these may not be sufficient to meet its future cash needs. The management remains focused on its strategic initiatives in oil and gas production and mineral exploration, while also navigating the uncertainties of market conditions and operational costs.