RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 3 – RELATED PARTY TRANSACTIONS

Amounts due to related parties at September 30, 2024 and December 31, 2023:

	September 30, 2024		December 31, 2023
Amounts due to the Chairman of the Board and Chief Financial Officer (“CFO”) (a)	$	100,000	$	100,000
Amounts due to a company controlled by the Chairman of the Board and CFO (a)		360,000		360,000
Total related party payables	$	460,000	$	460,000

(a) These amounts are non-interest bearing, unsecured and due on demand.

During the three- and nine-month periods ended September 30, 2024 and 2023, the Company had the following transactions with its related parties:

	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Director stock-based compensation incurred to the Chairman of the Board and CFO	$	82,961	$	83,188	$	247,078	$	246,851
Director stock-based compensation incurred to a director		41,377		41,490		123,231		123,118
Director stock-based compensation incurred to CEO, President, and director		124,130		124,471		369,693		369,353
Officer stock-based compensation incurred to VP of Operations		175,000		175,000		525,000		408,333
Related party transactions	$	423,468	$	424,149	$	1,265,002	$	1,147,655

See Note 4 – Mineral Property and Royalty Interests for further information on related party transactions and Note 6 – Stockholders’ Equity for further information regarding stock issued to related parties.