4. CENTRAL NEVADA EXPLORATION ALLIANCE

6 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaborative Arrangement Disclosure [Text Block]

4.CENTRAL NEVADA EXPLORATION PROGRAM

In the first calendar quarter of 2014, the Company completed a private placement and signed a letter of intent to enter into an exploration program agreement with Coeur Mining Inc. ("Coeur").  The agreement was finalized on October 2, 2014 (note 7). Coeur purchased 1,333,333 units at $0.15 per unit, for a total of $200,000.  Each unit consists of one common share and one warrant.  Two warrants plus $0.30 allow Coeur to purchase one common share.  The warrants expire in March 2017.  The letter of intent calls for Coeur to fund a central Nevada exploration program for a 3-year period. Coeur will pay certain consulting and field-related exploration costs associated with the exploration program, along with an administrative fee equal to 10 percent of actual expenditures. Coeur has an earn-in option to acquire interests in certain precious metals properties staked by the Company, provided Coeur funds certain development related-expenditures and meets certain milestones for preparing technical reports and economic analyses pertaining to the applicable properties.  For the period ended September 30, 2014, the Company recognized exploration service income of $78,490 for exploration costs and administrative fees.