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6. Escrow Advances
6 Months Ended
Nov. 30, 2013
Notes  
6. Escrow Advances

6.  ESCROW ADVANCES

 

On June 3, 2012, the Company closed escrow on a 702.3 acre purchase, transferring the consideration of $601,000 from the escrow account to mining claims. The remaining balance of $118,000, which includes 250,000 shares of common stock, relates to a proposed purchase form DAAL, LLC. The transaction hasn’t closed due to problems with delivery of proper title to the claim and, as of the date of this report, no timetable has yet been established for the return of funds.