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 (10)&lt;/font&gt;&lt;/div&gt;
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 EXPLORATION STAGE COMPANY&lt;/font&gt;&lt;/div&gt;
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 &lt;div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"&gt;&amp;#xA0;&lt;/div&gt;
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 a result of the Company&amp;#x2019;s focus on mineral exploration, it is
 considered an exploration stage company and accordingly reports
 operations, stockholders equity (deficit) and cash flows since
 inception through the date that revenues are generated from
 management&amp;#x2019;s intended operations. Since inception, the
 Company has incurred an operating loss of approximately $10.6
 million. The Company&amp;#x2019;s working capital has been primarily
 generated through the sales of common stock as well as advances
 from an affiliated entity.&lt;/font&gt;&lt;/div&gt;
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