SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2012
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS DMRJ Loan On October 17, 2012, the Company entered into a Fifth Amendment with DMRJ Group. The Fifth Amendment provides for the Company to receive up to $100,000 in additional funds in two advances (October Term Loan Advances) of $50,000 each. The advances are not deemed to be Kiewit Advances, which means that they will not be subject to the mandatory prepayment requirements under the Investment Agreement. In addition, the maturity date of the entire loan balance due to DMRJ is moved from December 31, 2012 to December 15, 2012. The amount to be due under the newly executed Fifth Amendment is $5,865,492 as of October 17, 2012; plus accrued interest at 2% per month, for a total due at December 15, 2012 of $6,148,857. Stock Offering An equity financing was initiated August 21, 2012 for the sale of up to 1,150,000 shares of common stock. As of September 30, 2012 no sales were recorded in conjunction with this offering, however, 110,000 shares of stock under this offering had been sold as of November 6, 2012. Under the terms of this offering, stock can be converted to cash generated from the sale of gold, for a period of 12 months after commencement of operations at the Kiewit project. Proceeds from 5% of the gold produced during the first year of production will be allocated to fund this option. Each investor will receive the right to convert a minimum of one-half and up to all of his shares (on a pro rata basis) into the value of the number of ounces represented by the total investment, determined using a base price of $1,000 per ounce.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2012

NOTE 10 – SUBSEQUENT EVENTS

DMRJ Loan

On October 17, 2012, the Company entered into a Fifth Amendment with DMRJ Group. The Fifth Amendment provides for the Company to receive up to $100,000 in additional funds in two advances (October Term Loan Advances) of $50,000 each. The advances are not deemed to be Kiewit Advances, which means that they will not be subject to the mandatory prepayment requirements under the Investment Agreement. In addition, the maturity date of the entire loan balance due to DMRJ is moved from December 31, 2012 to December 15, 2012. The amount to be due under the newly executed Fifth Amendment is $5,865,492 as of October 17, 2012; plus accrued interest at 2% per month, for a total due at December 15, 2012 of $6,148,857.

Stock Offering

An equity financing was initiated August 21, 2012 for the sale of up to 1,150,000 shares of common stock. As of September 30, 2012 no sales were recorded in conjunction with this offering, however, 110,000 shares of stock under this offering had been sold as of November 6, 2012. Under the terms of this offering, stock can be converted to cash generated from the sale of gold, for a period of 12 months after commencement of operations at the Kiewit project. Proceeds from 5% of the gold produced during the first year of production will be allocated to fund this option. Each investor will receive the right to convert a minimum of one-half and up to all of his shares (on a pro rata basis) into the value of the number of ounces represented by the total investment, determined using a base price of $1,000 per ounce.