Star Gold Corp (OTC: SRGZ) is a mineral exploration company that acquires and explores gold and silver properties in the western United States. The company generates no revenue from mining operations; it funds activities entirely through external financing, including equity offerings, private placements, and debt instruments. As of the fiscal year ended April 30, 2025, Star Gold held 137 mineral claims at the Longstreet property in Nevada (exclusive of 5 Clifford claims), subject to a 2% net smelter royalty payable to Clifford, which is inclusive of an overall 3% net smelter royalty on those properties. The company reported a working capital deficit of $670,822 as of April 30, 2025, with current liabilities of $686,613 against current assets of $15,791. Cash used by operating activities was $157,294 for the year ended April 30, 2025. Star Gold has not derived any revenue from exploration activities and has not declared any dividends since inception.

Revenue model

No revenue. The company is pre-revenue, funding mineral exploration entirely through equity offerings, private placements, and debt. Cash provided by financing activities was $175,500 for the year ended April 30, 2025.

Products and services

Mineral exploration at the Longstreet property in Nevada, targeting gold and silver mineralization. Metallurgical bottle roll tests on Longstreet composites (SMC, UMC, BMC) showed gold recoveries ranging from approximately 63% to 82% using cyanide leaching (as reported in the 10-K filed 2025-09-10).

Customers and end markets

No customers. Pre-revenue exploration stage. End market would be gold and silver commodity markets upon any future production.

Value-chain role

Early-stage mineral explorer. Acquires claims, conducts geological and metallurgical studies, and seeks permits. Has not reached development or production stage.

Geographic exposure

Nevada, United States. Subject to federal, state, and local mining regulations applicable to mineral exploration in Nevada.

Source: SEC 10-K, filed 2025-09-10

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