Note 15. Fixed Assets

12 Months Ended

May. 31, 2015

Notes

Note 15. Fixed Assets

Note 15.  FIXED ASSETS

Fixed assets are located in both the U.S. and in Mexico.  Assets are recorded at cost.  Depreciation is provided by the straight line method, employing useful lives of seven years for mining equipment and five years for vehicles.

Balances at May 31, 2015 and 2014 are presented below:

	2015	2014	Net Change
Vehicles	$150,039	$150,039	$              -
Mining equipment	502,400	502,400	-
Office furniture and equipment	30,022	30,022	-
Total assets	682,461	682,461	-
Accumulated depreciation	261,299	208,101	53,198
Net Fixed Assets	$421,162	$474,360	$(53,198)