CERTIFICATE OF DEPOSIT

6 Months Ended

Jun. 30, 2016

CERTIFICATE OF DEPOSIT

CERTIFICATE OF DEPOSIT

NOTE 2 — CERTIFICATE OF DEPOSIT:

The Company has a certificate of deposit in the amount of $1,124,055 pledged as security for a Letter of Credit to the Montana Department of Environmental Quality as a reclamation guarantee for the Montanore expansion evaluation program.  This certificate matures on January 3, 2017, bears interest at the rate of 0.15% and renews automatically each year.  This certificate of deposit is included with reclamation deposits on the Condensed Consolidated Balance Sheets as of June 30, 2016 and December 31, 2015.