RECLAMATION DEPOSITS

9 Months Ended

Apr. 30, 2012

RECLAMATION DEPOSITS [Text Block]

NOTE 7: RECLAMATION DEPOSITS

Reclamation deposits includes interest and non-interest bearing deposits issued in the States of Arizona, Texas and Wyoming pursuant to exploration, production and reclamation activities in the respective states. Reclamation deposits consist of the following:

		April 30, 2012			July 31, 2011
Palangana Mine	$	3,057,324		$	2,117,011
Hobson Processing Facility		1,824,350			1,824,350
Mount Lucas		672,650			672,650
Arizona		15,000			15,000
Wyoming		812			811
		5,570,136			4,629,822
Service Charges		(42,000	)		(19,522	)
	$	5,528,136		$	4,610,300