Reclamation deposit

6 Months Ended

Jun. 30, 2012

Reclamation deposit

The Company is required to post bonds with the Bureau of Land Management (“BLM”) for reclamation of planned mineral exploration programs work associated with the Company’s mineral properties located in the United States. For the Company’s mineral properties that are being actively explored under funding arrangement agreements, the funding partners are responsible for bonding for the surface disturbance created by the exploration programs funded by each of them on those projects.

At June 30, 2012 the Company had posted a total of $616,004 reclamation deposits compared to $603,062 at December 31, 2011.