3. STOCKHOLDERS' EQUITY, COMMON STOCK AND WARRANTS

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note Disclosure [Text Block]

3.            STOCKHOLDERS’ EQUITY, COMMON STOCK AND WARRANTS

a)   Common Stock:

In July 2012, the Company sold 1,325,000 common shares at $0.10 for gross proceeds of $132,500, and $109,425 net of $23,075 in offering costs.

In July 2012, the Company issued 300,000 common shares pursuant to mining lease agreement valued at $0.10 per share. The Company accounted for $30,000 as unproved property.

In February 2013, the Company issued 50,000 common shares pursuant to a mining lease agreement valued at $0.10 per share.  The Company accounted for $5,000 as unproved property.

b)    Warrants

	Number	Weighted Average Exercise Price
Outstanding at June 30, 2011	-	-
Issued	1,600,000	$0.25
Exercised	-	-
Expired	-	-
Outstanding at June 30, 2012	1,600,000	0.25
Issued	1,325,000	0.25
Exercised	-	-
Expired	-	-
Outstanding at March 31, 2013	2,925,000	$0.25

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The warrants that are issued and outstanding as at March 31, 2013 are as follows:

Number of Warrants	Exercise Price	Expiration Date
2,925,000	$              0.25	March 1, 2015