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NOTE 5: MINERAL AND MINING PROPERTIES
3 Months Ended
Jun. 30, 2012
Mineral Industries Disclosures [Text Block]
NOTE 5: MINERAL AND MINING PROPERTIES

During the fiscal 2012 first quarter, the Company purchased the Silver Strand Mine from an unrelated party.  This property consists of 15 unpatented mining claims located in northern Kootenai County, Idaho.  The Company paid $121,000 in cash and entered into an agreement to pay a 20% net profits royalty interest valued at $880,000.  The cost of the property, included in the consolidated financial statements under the caption of mineral and mining properties, is expected to remain capitalized until such time as the Company’s outside study on the property’s reserves, if any, is completed.