ASSET RETIREMENT OBLIGATION AND ACCRUED RECLAMATION COSTS

3 Months Ended

Mar. 31, 2022

ASSET RETIREMENT OBLIGATION AND ACCRUED RECLAMATION COSTS

7. ASSET RETIREMENT OBLIGATION AND ACCRUED RECLAMATION COSTS

NOTE 7 – ASSET RETIREMENT OBLIGATION AND ACCRUED RECLAMATION COSTS

Changes in the asset retirement obligation for the three months ended March 31, 2022 and 2021 are as follows:

	Three months ended March 31,
	2022		2021
Asset retirement obligation, beginning of period	$	191,149	$	184,219
Accretion expense		1,732		1,732
Asset retirement obligation, end of period	$	192,881	$	185,951

The Company’s total asset retirement obligation and accrued reclamation costs of $300,318 and $298,649, at March 31, 2022 and December 31, 2021, respectively, include reclamation obligations for the Idaho and Montana operations of $107,500.