Note 8 - Impairment of Mineral Rights

6 Months Ended

Mar. 31, 2015

Notes

Note 8 - Impairment of Mineral Rights:

NOTE 8 – IMPAIRMENT OF MINERAL RIGHTS:

During the six months ended March 31, 2015, we elected to terminate the lease on the Iron Butte property, resulting in a write off of $426,000.  We expect to focus our resources on advancing the Talapoosa project and therefore decided to return the Iron Butte property to the underlying owner before any further property payments were due.