MINERAL PROPERTIES AND INTERESTS (Tables)

9 Months Ended

Sep. 30, 2012

Mineral properties and interests as of September 30, 2012 and December 31, 2011 are as follows:

		September 30, 2012		December 31, 2011
Yellow Hammer Site
Initial Lease Fee	$	175,000	$	175,000
Asset Retirement Obligation		30,908		30,908
Total		205,908		205,908

Kiewit, Cactus Mill and all other sites
Initial Lease Fee		600,000		600,000
Annual Lease Payment		50,000		-
Asset Retirement Obligation		26,913		26,594
Total		676,913		626,594

Blue Fin Claims
Initial Claim Fee		2,735		2,735

Total		2,735		2,735

Total Mineral Properties and Leases	$	885,556	$	835,237

Exploration Expenditures

Exploration expenditures incurred by the Company during the three and nine months ended September 30, 2012 and 2011 were as follows:

		Three Months Ended September 30, 2012		Three Months Ended September 30, 2011		Nine Months Ended September 30, 2012		Nine Months Ended September 30, 2011
Assaying	$	940	$	3,390	$	13,541	$	15,609
Permitting		56,406		50,557		203,247		98,485
Geological consulting fees		-		20,579		-		84,759
Maps and miscellaneous		-		473		77		5,782
Total Exploration Expenditures	$	57,346	$	74,999	$	216,865	$	204,635