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| ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE FISCAL YEAR ENDED AUGUST 31, 2014 |
|---------|-------------------------------------------------------------------------------------------------------------------------------|
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to section 12(g) of the Act: |
|-------------------------------------------------------------|-------------------------------------------------------------|
| NONE                                                        | COMMON STOCK, par value $0.001 per share                    |
| Large Accelerated Filer                                             | □ | Accelerated Filer         | □ |
|---------------------------------------------------------------------|---------|---------------------------|---------|
| Non-accelerated Filer (Do not check if a smaller reporting company) | □ | Smaller Reporting Company | ☒ |

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|                                                                                                                                               |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| PART I                                                                                                                                             | 5      |
|      ITEM 1 - DESCRIPTION OF BUSINESS                                                                                     | 5      |
|      ITEM 1A - RISK FACTORS                                                                                               | 7      |
|      ITEM 1B - UNRESOLVED STAFF COMMENTS                                                                                  | 7      |
|      ITEM 2 - DESCRIPTION OF PROPERTY                                                                                     | 7      |
|      ITEM 3 - LEGAL PROCEEDINGS                                                                                           | 7      |
|      ITEM 4 - MINING SAFETY DISCLOSURES                                                                                   | 7      |
|                                                                                                                                               |   |
| PART II                                                                                                                                            | 8      |
|      ITEM 5 - MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES | 8      |
|      ITEM 6 - SELECTED FINANCIAL DATA                                                                                     | 11     |
|      ITEM 7 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                       | 11     |
|      ITEM 7A - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                                 | 15     |
|      ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                                                                 | 15     |
|      ITEM 9 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE                        | 15     |
|      ITEM 9A - CONTROLS AND PROCEDURES                                                                                    | 16     |
|      ITEM 9B - OTHER INFORMATION                                                                                          | 17     |
|                                                                                                                                               |   |
| PART III                                                                                                                                           | 18     |
|      ITEM 10 - DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE                                                     | 18     |
|      ITEM 11 - EXECUTIVE COMPENSATION                                                                                     | 20     |
|      ITEM 12 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL HOLDERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS            | 21     |
|      ITEM 13 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE                                   | 22     |
|      ITEM 14 - PRINCIPAL ACCOUNTING FEES AND SERVICES                                                                     | 22     |
| PART IV                                                                                                                                            | 24     |
|      ITEM 15 - EXHIBIT, FINANCIAL STATEMENT SCHEDULES                                                                     | 24     |
|      SIGNATURES                                                                                                           | 26     |
|                                                                                                                                               |   |
| EXHIBIT A                                                                                                                                          | 27     |
|      FINANCIAL STATEMENTS                                                                                                 | 27     |
|      BALANCE SHEETS                                                                                                       | 29     |
|      STATEMENTS OF OPERATIONS                                                                                             | 30     |
|      STATEMENTS OF CASH FLOWS                                                                                             | 31     |
|      STATEMENTS OF STOCKHOLDER'S EQUITY (DEFICIENCY)                                                                      | 32     |
|      NOTES TO FINANCIAL STATEMENTS                                                                                        | 33     |

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| High & Low Bids |
|---------------------|
| Period ended        | High | Low | Source |
| 31 August 2014      | $0.01 | $0.00 | OTC Markets, Inc. |
| 31 May 2014         | $0.02 | $0.00 | OTC Markets, Inc. |
| 28 February 2014    | $0.10 | $0.00 | OTC Markets, Inc. |
| 30 November 2013    | $0.04 | $0.00 | OTC Markets, Inc. |
| 31 August 2013      | $0.02 | $0.00 | OTC Markets, Inc. |
| 31 May 2013         | $0.02 | $0.00 | OTC Markets, Inc. |
| 28 February 2013    | $0.02 | $0.00 | OTC Markets, Inc. |
| 30 November 2012    | $0.06 | $0.02 | OTC Markets, Inc. |

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| · | contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading; |
|--------|---------------------------------------------------------------------------------------------------------------------------------------|

| · | contains a description of the broker's or dealer's duties to the customer and of the rights and remedies available to the customer with respect to a violation to such duties or other requirements; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | contains a brief, clear, narrative description of a dealer market, including " bid" and " ask" prices for penny stocks and the significance of the spread between the bid and ask price; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | contains a toll-free telephone number for inquiries on disciplinary actions; |
|--------|------------------------------------------------------------------------------|

| · | defines significant terms in the disclosure document or in the conduct of trading penny stocks; and |
|--------|-----------------------------------------------------------------------------------------------------|

| · | contains such other information and is in such form (including language, type, size, and format) as the Commission shall require by rule or regulation. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The broker-dealer also must provide, prior to effecting any transaction in a penny stock, the customer: |
|--------|---------------------------------------------------------------------------------------------------------|

| o | with bid and offer quotations for the penny stock; |
|---|----------------------------------------------------|

| o | the compensation of the broker-dealer and its salesperson in the transaction; |
|---|-------------------------------------------------------------------------------|

| o | the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o | monthly account statements showing the market value of each penny stock held in the customer's account. |
|---|---------------------------------------------------------------------------------------------------------|

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| · | pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of Panex's assets; |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| · | provide reasonable assurance that transactions are recorded as necessary to permit preparation of the financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and the Board of Directors; and |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of Panex's assets that could have a material effect on the financial statements. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name and Address                                   | Age    | Positions                                               |
|----------------------------------------------------|--------|---------------------------------------------------------|
|                                               |   |                                                    |
| Mark Gasson (appointed December 9, 2013)           |   |                                                    |
| Level 3, Gotthardstrasse 20, 6300 Zug, Switzerland | 56     | Chief Executive Officer, President, Director            |
|                                               |   |                                                    |
| Mr Cong Mao Huai (appointed March 21, 2014)        |   |                                                    |
| Level 3, Gotthardstrasse 20, 6300 Zug, Switzerland | 52     | Director                                                |
|                                               |   |                                                    |
| Ross Doyle                                         |   |                                                    |
| Level 3, Gotthardstrasse 20, 6300 Zug, Switzerland | 42     | Chief Financial Officer, Treasurer, Corporate Secretary |

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| · | a general partner or executive officer of any business against which any bankruptcy petition was filed, either at the time of the bankruptcy or two years prior to that time; |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | convicted in a criminal proceeding or named subject to a pending criminal proceeding (excluding traffic violations and other minor offenses); |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| · | subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities; |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity, or to be associated with persons engaged in any such activity; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated; |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of: |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | any Federal or State securities or commodities law or regulation; or |
|--------|----------------------------------------------------------------------|

| · | any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or |
|--------|----------------------------------------------------------------------------------------------------------|

| · | the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name and principalposition                                                                 | Year     | Salary($)     | Bonus($) | StockAwards($) | OptionAwards($) | Non-EquityIncentivePlan($) | Non-qualifiedDeferredCompensationEarnings($) | All othercompensation($) | Total($)      |
|--------------------------------------------------------------------------------------------|----------|---------------|----------|----------------|-----------------|----------------------------|----------------------------------------------|--------------------------|---------------|
| Klaus Eckhof, Chairman, CEO, President,Non Executive Director - resignedDecember 9, 2013 ^ | 20132014 | 43,07638,523  | --       | --             | --              | --                         | --                                           | --                       | 43,07638,523  |
| Ross Doyle CFO appointedMarch 26, 2012^                                                    | 20132014 | 102,21051,603 | --       | --             | --              | --                         | --                                           | --                       | 102,21051,603 |
| Mark Gasson CEO appointedDecember 9, 2013^                                                 | 2014     | 51,603        | -        | -              | -               | -                          | -                                            | -                        | 51,603        |
| Cong Mao Huai Director appointedMarch 21, 2014                                             | 2014     | -             | -        | -              | -               | -                          | -                                            | -                        | -             |

| ^ | Administration, accounting, SEC support, annual report preparation and lodgment, CFO and secretarial fees of $161,094 (2013: $84,000) was paid or payable to Coresco AG, a company in which Mr. Gasson and Mr. Doyle has a beneficial interest. |
|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Title of Class         | Name and Address of Beneficial Owner                                          | Amount and Nature ofBeneficial Owner [1] | Percentof Class [2] |
|------------------------|-------------------------------------------------------------------------------|-----------------------------------------------|--------------------------|
| Shares of common stock | Samba Minerals Ltd.55 Salvado Rd, Level 1, Suite 5,Subiaco, WA6008, Australia | 225,000,000                                   | 15.88%                   |
|                   | Patane Ltd.Graben 27, Vienna, Austria                                         | 110,000,000                                   | 7.76%                    |
|                   | Coresco AGGotthardstrasse 20 Level 3, Zug 6300,Switzerland                    | 100,000,000                                   | 7.06%                    |
|                   | Orca Capital GmbHSperling 2, Pfaffenhofen 85276,Germany                       | 100,000,000                                   | 7.06%                    |

| [1] | The listed beneficial owner has no right to acquire any shares within 60 days of the date of this Form 10-K from options, warrants, rights, conversion privileges or similar obligations excepted as otherwise noted. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| [2] | Based on 1,416,136,507 shares of common stock issued and outstanding as of October 3, 2014. |
|-----|---------------------------------------------------------------------------------------------|

| Title of Class         | Name and Address of Beneficial Owner                          | Amount and Nature ofBeneficial Owner [1] | Percentof Class [2] |
|------------------------|---------------------------------------------------------------|-----------------------------------------------|--------------------------|
| Shares of common stock | Klaus EckhofLevel 3, Gotthardstrasse 20, 6300 Zug,Switzerland | -                                             | 0.00%                    |
| Shares of common stock | Ross DoyleLevel 3, Gotthardstrasse 20, 6300 Zug,Switzerland   | 41,977,553                                    | 2.96%                    |
| Shares of common stock | Mark GassonLevel 3, Gotthardstrasse 20, 6300 Zug,Switzerland  | 25,000,000                                    | 1.76%                    |
| Shares of common stock | Directors and Executive Officers (as a group)                 |                                          | 4.72%                    |

| [2] | Based on 1,416,136,507 shares of common stock issued and outstanding as of October 3, 2014. |
|-----|---------------------------------------------------------------------------------------------|

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| Exhibit | Description                                                                                                                                                                                                                                                                                                                                                               | Status |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|    |                                                                                                                                                                                                                                                                                                                                                                      |   |
| 3.1     | Articles of Incorporation of Panex Resources Inc. filed as an Exhibit to Panex's Form SB-2 (Registration Statement) filed on December 12, 2005 and incorporated herein by reference.                                                                                                                                                                                      | Filed  |
| 3.2     | By-Laws of Panex Resources Inc. filed as an Exhibit to Panex's Form SB-2 (Registration Statement) filed on December 12, 2005 and incorporated herein by reference.                                                                                                                                                                                                        | Filed  |
| 3.3     | Certificate of Amendment of Panex Resources Inc., filed as an Exhibit to Panex's Form 8-K (Current Report) filed on September 30, 2010 and incorporated herein by reference.                                                                                                                                                                                              | Filed  |
| 10.1    | Management Agreement dated April 19, 2006 between Panex Resources Inc. and Reg Gillard, filed as Exhibit 10.2 to Panex's Form 8-K (Current Report) filed on May 10, 2006 and incorporated herein by reference.                                                                                                                                                            | Filed  |
| 10.2    | Letter of Understanding dated May 6, 2006 among Panex Resources Inc., Goldplata Corporation Limited, Goldplata Resources Inc, and Goldplata Resources, Sucursal-Columbia, filed as an Exhibit to Panex's Form 8-K (Current Report) filed on May 25, 2006 and incorporated herein by reference.                                                                            | Filed  |
| 10.3    | Letter Agreement dated June 15, 2006 between Panex Resources Inc. and Emco Corporation, filed as an Exhibit to Panex's Form 8-K (Current Report) filed on June 29, 2006 and incorporated herein by reference.                                                                                                                                                             | Filed  |
| 10.4    | Share Sale Agreement dated July 10, 2006, between Panex Resources Inc. and Emco Corporation Inc. S.A., filed as an Exhibit to Panex's Form 8-K (Current Report) filed on July 17, 2006, and incorporated herein by reference.                                                                                                                                             | Filed  |
| 10.5    | Heads of Agreement dated July 26, 2007 among Panex Resources Inc., Goldplata Resources Peru S.A.C., Goldplata Resources Inc., Goldplata Resources Sucursal-Colombia, Goldplata Corporation Limited, and Goldplata Mining International Corporation, filed as an Exhibit to Panex's Form 10-K (Annual Report) filed on July 28, 2009 and incorporated herein by reference. | Filed  |
| 10.6    | Letter Agreement dated December 6, 2007 among Panex Resources Inc., Emco Corporation Inc. S.A. and Minanca Minera Nanguipa, Compania Anonima, filed as an Exhibit to Panex's Form 10-K (Annual Report) filed on July 28, 2009 and incorporated herein by reference.                                                                                                       | Filed  |

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| Exhibit | Description                                                                                                                                                                                                                                                                                                                      | Status   |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
|    |                                                                                                                                                                                                                                                                                                                             |     |
| 10.7    | Deed dated January 11, 2008 among Panex Resources Inc., Windy Knob Resources Limited, Goldplata Mining International Corporation, Goldplata Resources Inc., and Goldplata Resources Sucursal-Colombia, filed as an Exhibit to Panex's Form 10-K (Annual Report) filed on July 28, 2009 and incorporated herein by reference.     | Filed    |
| 14.1    | Financial Code of Ethics filed as an Exhibit to Panex's Form SB-2 (Registration Statement) filed on December 12, 2005 and incorporated herein by reference.                                                                                                                                                                      | Filed    |
| 31.1    | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 from chief executive officer.                                                                                                                                                                                                                            | Included |
| 31.2    | Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 from chief financial officer.                                                                                                                                                                                                                            | Included |
| 32      | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                           | Included |
| 99.1    | Disclosure Committee Charter, filed as an Exhibit to Panex's Form 10-K (Annual Report) filed on July 28, 2009 and incorporated herein by reference.                                                                                                                                                                              | Filed    |
| 101 *   | Financial statements from the quarterly reports on Form 10-Q of Panex Resources Inc. for the quarter ended May 31, 2013, 2012 and beyond are formatted in XBRL:  (ii) the Balance Sheets, (ii) the Statements of Operations; (iii) the Statements of Cash Flows, and (iv) the Statements of Stockholders' Equity (Deficit). | Included |

| * | In accordance with Rule 406T of Regulation S-T, the XBRL ("eXtensible Business Reporting Language") related information is furnished and not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections. |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | PANEX RESOURCES INC. |
|--------|----------------------|
|   |                 |   |
|   | BY:                  | MARK GASSON |
|   |                 | Mark Gasson |
|   |                 | President, Principal Executive Officer andmember of the Board of Directors |
|   |                 |   |
|   | BY:                  | ROSS DOYLE |
|   |                 | Ross Doyle |
|   |                 | Principal Financial Officer, Principal AccountingOfficer, Secretary and Treasurer |
| Signature     | Title                                                | Date         |
|---------------|------------------------------------------------------|--------------|
|          |                                                 |         |
| MARK GASSON   | President, Principal Executive Officer and Member of | May 29, 2015 |
| Mark Gasson   | the Board of Directors                               |         |
|          |                                                 |         |
|          |                                                 |         |
| CONG MAO HUAI | Member of the Board of Directors                     | May 29, 2015 |
| Cong Mao Huai |                                                 |         |

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| PANEX RESOURCES INC.                                                | As at        | As at        |
|---------------------------------------------------------------------|--------------|--------------|
| (An exploration stage enterprise)                                   | 31 August    | 31 August    |
| Balance Sheets                                                      | 2014         | 2013         |
|                                                                |         |         |
| (Expressed in U.S. Dollars)                                         | $            | $            |
|                                                                |         |         |
| ASSETS                                                              |         |         |
| Current assets                                                      |         |         |
| Investment                                                          | 1,351,587    | -            |
| Cash                                                                | 2,524        | 519          |
| Total current assets                                                | 1,354,111    | 519          |
| Total assets (all current)                                          | 1,354,111    | 519          |
|                                                                |         |         |
| Liabilities and Stockholders' Equity (Deficiency)                   |         |         |
| Current liabilities                                            |         |         |
| Accounts payable and accrued expenses                               | 42,922       | 63,344       |
| Accounts payable and accrued expenses related parties (Note 4(b))   | 45,523       | 163,643      |
| Loans and borrowings, related party                                 | 35,000       | -            |
| Loans and borrowings                                                | -            | 110,000      |
| Total liabilities (all current)                                     | 123,445      | 336,987      |
| Stockholders' Equity (Deficiency)                                   |         |         |
| Common stock                                                        |         |         |
|   Authorized: 2,000,000,000 (2013: 500,000,000)           |         |         |
|     common shares with par value of $0.001 each |         |         |
|   Issued and outstanding:                                 |         |         |
| 1,416,136,507 (August 31, 2013: 118,261,507)common shares           | 1,416,136    | 118,261      |
| Additional paid-in capital                                          | 13,131,129   | 13,080,699   |
| Donated capital                                                     | 77,627       | 77,627       |
| Accumulated deficit during the exploration stage                    | (13,394,226) | (13,613,055) |
| Stockholder' equity (deficiency)                                    | 1,230,666    | (336,468)    |
| Total liabilities and stockholders' equity (deficiency)             | 1,354,111    | 519          |

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| PANEX RESOURCES INC.                                | For the     | For the     |
|-----------------------------------------------------|-------------|-------------|
| (An exploration stage enterprise)                   | Year        | Year        |
| Statements of Operations                            | Ended       | Ended       |
|                                                | 31 August   | 31 August   |
|                                                | 2014        | 2013        |
| (Expressed in U.S. Dollars)                         | $           | $           |
| Listing and filing fees                             | 14,686      | 2,396       |
| Investor relation expenses                          | 181,457     | -           |
| Management fees                                     | -           | 61,431      |
| Professional fees                                   | 209,325     | 112,762     |
| Travel costs                                        | 12,640      | -           |
| General and administrative                          | 192,407     | 163,709     |
| Foreign currency transaction loss (gain)            | (20,021)    | 1,037       |
| Mineral property and exploration costs              | 1,388,295   | -           |
|                                                | 1,978,789   | 341,335     |
| Other income (expense)                              |        |        |
| Interest expense                                    | -           | (36)        |
| Gain on sale of investment                          | 1,981,344   | -           |
| Investment revaluation                              | 216,270     | -           |
| Extinguishment of liabilities                       | -           | 197,745     |
|                                                | 2,197,614   | 197,709     |
| Net Income (Loss)                                   | 218,825     | (143,626)   |
| Earnings (Loss) Per Share – Basic and Diluted | *           | *           |
| Weighted Average Shares Outstanding            | 397,269,510 | 109,097,123 |
|                                                |        |        |
| * Amount is less than $0.01 per share               |        |        |

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| PANEX RESOURCES INC.                                                         | For the     | For the   |
|------------------------------------------------------------------------------|-------------|-----------|
| (An exploration stage enterprise)                                            | Year        | Year      |
| Statements of Cash Flows                                                     | Ended       | Ended     |
|                                                                         | 31 August   | 31 August |
|                                                                         | 2014        | 2013      |
| (Expressed in U.S. Dollars)                                                  | $           | $         |
| Cash Flows From Operating Activities                                         |        |      |
| (Net loss) income                                                            | 218,825     | (143,626) |
|  Adjustments to reconcile net loss to cash used in operating activities |        |      |
| Foreign currency transaction loss (gain)                                     | (20,021)    | 1,031     |
| Gain on sale of investment                                                   | (1,981,344) | -         |
| Investment revaluation                                                       | (216,270)   | -         |
| Extinguishment of debt                                                       | -           | (197,745) |
| Options expense                                                              | -           | -         |
| Increase (decrease) in accounts payable and accrued liabilities              | 205,983     | 25,190    |
| Increase (decrease) in amounts due to related parties                        | (18,120)    | 132,049   |
| Net Cash Used in Operating Activities                                        | (1,810,947) | (183,101) |
| Cash Flows From Investing Activities                                         |        |      |
| Net Cash Used in Investing Activities                                        | -           | -         |
| Cash Flows From Financing Activities                                         |        |      |
|     Loan from related parties                            | 94,000      | -         |
|     Loan repaid to related parties                       | (9,000)     | -         |
|     Loan from unrelated third parties                    | 846,027     | 110,000   |
|     Common shares issued for cash                        | 861,900     | -         |
| Net Cash Provided by Financing Activities                                    | 1,792,927   | 110,000   |
| Effect of Exchange Rates on Cash                                             | 20,025      | 7,821     |
| Increase (decrease) in Cash                                                  | 2,005       | (65,280)  |
| Cash at Beginning of Period                                                  | 519         | 65,799    |
| Cash at End of Period                                                        | 2,524       | 519       |

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| PANEX RESOURCES INC(An exploration stage enterprise)Statements of Stockholder's Equity(Deficiency) andComprehensive income (Loss)                            | Common Stock  | Additionalpaid-incapital | DonatedCapital | Accumulated(deficit) duringexplorationstage | Totalstockholders'equity(deficiency) |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------|--------------------------|----------------|---------------------------------------------|--------------------------------------|
| For the Year Ended August 31, 2014 and 2013                                                                                                                  | Shares        | Amount                   | $              | $                                           | $                                    | $ |
| (Expressed in U.S. Dollars)                                                                                                                                  | #             | $                        |           |                                        |                                 |   |
|                                                                                                                                                         |          |                     |           |                                        |                                 |   |
| Balances, August 31, 2012                                                                                                                                    | 103,261,507   | 103,261                  | 13,020,699     | 77,627                                      | (13,469,429)                         | (267,842) |
|   Net loss (income)                                                                                                                                | -             | -                        | -              | -                                           | (143,626)                            | (143,626) |
|   Common stock issued for settlement of  liabilities on April 11, 2013 at 0.5 cents per share                                            | 15,000,000    | 15,000                   | 60,000         | -                                           | -                                    | 75,000 |
| Balances, August 31, 2013                                                                                                                                    | 118,261,507   | 118,261                  | 13,080,699     | 77,627                                      | (13,613,055)                         | (336,468) |
|                                                                                                                                                         |          |                     |           |                                        |                                 |   |
|   Net loss (income)                                                                                                                                | -             | -                        | -              | -                                           | 218,829                              | 218,827 |
|   Common stock issued for settlement of  liabilities on November 15, 2013 at $0.001 per share                                            | 248,000,000   | 248,000                  | -              | -                                           | -                                    | 248,000 |
|   Common stock issued for settlement of  liabilities of $137,000 during quarter ended  February 28, 2014 at $0.001 per share   | 50,975,000    | 50,975                   | -              | -                                           | -                                    | 50,975 |
|   Common stock issued for cash on May 13, 2014  at $0.001 per share                                                                      | 40,300,000    | 40,300                   | -              | -                                           | -                                    | 40,300 |
|   Extinguishment of liabilities with a related party                                                                                               | -             | -                        | 50,430         | -                                           | -                                    | 50,430 |
|   Common stock issued for settlement of liabilities  and for cash received of $821,600 on August 12,  2014 at $0.001 per share | 958,600,000   | 958,600                  | -              | -                                           | -                                    | 958,600 |
| Balances, August 31, 2014                                                                                                                                    | 1,416,136,507 | 1,416,136                | 13,131,129     | 77,627                                      | (13,394,226)                         | 1,230,666 |

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|                                                  | StockOptions # | WeightedAverageExercise Price$ | RemainingContractualLife (years)As At | AggregateIntrinsic value As At |
|-------------------------------------------------------|---------------------|--------------------------------|---------------------------------------|-------------------------------------|
| Outstanding and exercisableat August 31, 2011         | -                   | -                              | -                                     | -                                   |
| Granted on August 3, 2012                             | 8,000,000           | 0.08                           | 4.92                                  | -                                   |
| Outstanding and exercisableat August, 31, 2012        | 8,000,000           | 0.08                           | 4.92                                  | -                                   |
| Granted during the fiscal yearended August 31, 2013   | -                   | -                              | -                                     | -                                   |
| Forfeited during the fiscal yearended August 31, 2013 |  (8,000,000)   | 0.08                           | 4.17                                  | -                                   |
| Outstanding and exercisableat August 31, 2013         | -                   | -                              | -                                     | -                                   |
| Granted during the fiscal yearended August 31, 2014   | -                   | -                              | -                                     | -                                   |
| Outstanding and exercisableat August 31, 2014         | -                   | -                              | -                                     | -                                   |

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|                   | 2014              |   | 2013              |
|------------------------|-------------------|--------|-------------------|
|                   |              |   |              |
| Net operating losses   | 7,072,471         |   | 7,291,299         |
| Loan loss reserves     | 6,100,000         |   | 6,100,000         |
|                   | 13,172,471        |   | 13,391,299        |
| Statutory tax rate     | 35%               |   | 35%               |
| Deferred tax asset     | 4,610,365         |   | 4,686,955         |
| Valuation allowance    |  (4,610,365) |   |  (4,686,955) |
| Net deferred tax asset | -                 |   | -                 |