Mineral Interest Commitments

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Mineral Interest Commitments [Text Block]

2. Mineral Interest Commitments

On January 31, 2023, the Company’s Board of Directors approved a resolution to purchase 56 acres of private land for $50,000. This is contiguous on the south end of the existing patented and lode claims at the South Mountain Project. A real estate purchase and sale agreement was signed on February 07, 2023. Under terms of the agreement $10,000 was paid and recorded as a deposit for the period ending March 31, 2023. The balance of $40,000 is due by December 29, 2023. Failure to make the payment forfeits the deposit of $10,000 and cancels the agreement.

The Company has two lease arrangements with landowners that own land parcels adjacent to the Company's South Mountain patented and unpatented mining claims. The leases were originally for a seven-year period, with annual payments of $20 per acre. The leases were renewed for an additional 10 years at $30 per acre paid annually, Acree Lease renewed on June 19, 2014, and the Lowry Lease was on October 23, 2014; committed payments are listed in the table below. The leases have no work requirements.

		Annual Payment
Acree Lease (June)	$	3,390
Lowry Lease (October)		11,280
Total	$	14,670

The Company has 26 unpatented claims (533 acres) in the Trout Creek area and 21 unpatented claims in the South Mountain area.

The claim fees are paid on these unpatented claims annually as follows:

Target Area		2023
Trout Creek -State of Nevada	$	4,290
Trout Creek -Lander County, Nevada		324
South Mountain-State of Idaho		3.465
Total	$	8,079