Deferred Costs, Capitalized, Prepaid, and Other Assets

3 Months Ended

Jan. 31, 2013

Disclosure Text Block Supplement [Abstract]

Other Assets Disclosure [Text Block]

NOTE 3 – PREPAID EXPENSES

The following is a summary of the Company’s prepaid expenses at January 31, 2013 and April 30, 2012:

		January 31, 2013		April 30, 2012
Exploration expense		$	-	$	92,424
Legal retainer			-		15,000
Directors and officers liability insurance			2,613		26,130
	Total	$	2,613	$	133,554

Exploration expense at April 30, 2012 was prepaid in order to satisfy required expenditure obligations for the year ended January 15, 2012 for which the corresponding work could not be completed by that date.  The prepaid balance was reduced as invoices were applied to ongoing drilling and exploration activities which the Company recognized as exploration expense during the remainder of its fiscal year ending April 30, 2013.