PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2013

NOTE 4 – PROPERTY AND EQUIPMENT

The following is a summary of property, plant, and equipment – at cost, less accumulated depreciation:

	2013		2012
Land (a)	$	945,180	$	945,180
Land improvements		164,758		164,758
Buildings		631,299		631,299
Mining equipment		1,569,635		1,519,635
Milling equipment		333,594		336,146
Laboratory equipment		65,934		65,934
Office equipment		60,992		52,014
Vehicles		140,002		140,002
		3,911,394		3,854,968
Less: Accumulated depreciation		1,317,958		1,005,825
		2,593,436		2,849,143
Construction in progress (b)		3,438,113		1,156,537
Total	$	6,031,549	$	4,005,680

(a)

Includes the Atlas Mine near Mullan, Idaho with a carrying value of $445,180 ( Note 3), and the Dragon Mine with a carrying value of $500,000.

(b)

Represents investments in a new plant facility and related equipment at the mine site.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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