Note 8. Notes Payable: Schedule of Notes Payable (Tables)

12 Months Ended

May 31, 2014

Tables/Schedules

Schedule of Notes Payable

Claim	Current Portion	Long - Term	Term of Note
Note for acquisition of Turner Ranch mining claim	$      252,000	-	Principal due on April 30, 2015, with interest at 5% per annum
Note for acquisition of Golden Eagle #2 mining claim	72,096	-	Principal due February 1, 2015; the debt is non-interest bearing but interest has been imputed @16%; payments of $874 are due each month with the balance due at maturity.
Equipment financing lease	11,884	27,392	Principal on 6.55% equipment lease is due June 1, 2017
Convertible notes	130,000	-	All notes are due August 31, 2014 and bear interest @ 16% - see Note 9.
Total notes payable	$465,980	$     27,392