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Note 12- Subsequent Events
12 Months Ended
Dec. 31, 2011
Subsequent Events [Abstract]  
Note 12- Subsequent Events

Note 12-  Subsequent Events

 

On various dates between January 9, 2012 and March 22, 2012, the Company issued 1,238,332 shares of common stock pursuant to private placement transactions at a price of $0.075 CAD per share and for total cash proceeds of $93,902.

 

On January 13, 2012, the Company issued 3,000,000 shares of common stock as satisfaction of its share issuance obligations as part of the acquisition of the mineral rights to the Carson Lake Property and the Garrett Property.

 

On February 13, 2012, the Company finalized a mineral property acquisition agreement with Shining Tree Resources Corp., under which the Company would acquire a 50% interest in the Elijah Property in the townships of Churchill and Asquith in the Province of Ontario, Canada. In exchange for the interest in the property, the Company will:



 

a)       Pay cash consideration of $50,270 ($50,000 CAD) according to an installment schedule between February and July 2012;

b)       Issue 1,000,000 shares of common stock to Shining Tree Resources Corp.; and

Complete exploration expenditures having a value of $201,097 ($200,000 CAD) on the conveyed property before February 10, 2014.  Upon completion of payment for the Conveyed Property in the aggregate amount of $50,270 ($50,000 CDN) of Expenditures on the Conveyed Property, Shining Tree will issue to the Company 1,000,000 common shares of Shining Tree on or before July 30, 2012.