Deferred Costs, Capitalized, Prepaid, and Other Assets

3 Months Ended

Mar. 31, 2012

Disclosure Text Block Supplement

Other Assets Disclosure

      NOTE 5 - REAL PROPERTY and MINERAL RIGHTS

Metamining Nevada, through its parent company, Metamining,  acquired certain real property and mineral rights in the Buena Vista Hills area of the mineral district in Pershing and Churchill Counties of Nevada called “Iron Horse Project – Dodge Mine" from three separate sellers for a total purchase considerations of $14,250,000 payable by way of three installments over a period of two years from April 15, 2011 as discussed under Note 13- Notes Payable.

(1)	Seller, Little Valley Group, LLC (LVC) under Agreement No. NV01 valued 77.1930%	$11,000,000
(2)	Seller, Greater Nevada Ranches, LLC (GNR) under Agreement No. NV02 valued 12.2807%	1,750,000
(3)	Seller, Western Resources Group, LLC (WRG) under Agreement No. NV03 valued 10.5263%	1,500,000
	Total Purchase Considerations	$14,250,000

Acquiring the following properties and Mineral Rights:

From LVC:

Township 25 North, Range 34 East, M.D.M.

Section 6	BLM Serial Number
Iron Horse	754382
Iron Horse 1-9	754383-754391
Iron Colt	862856
Iron Colt 1-6, 10	862857-862863
Iron Horse 10, 11	862864-862865

Township 26 North, Range 34 East, M.D.M

Section 32
Beacon Hill 1,5-7,9	862839-862843
Beacon Hill 14-21	862846-862853
Beacon Hill 12	999120
Iron Castle 8-9	862854-862855
MG-1 thru MG-4	962977-962980

From GNR:

Pershing County APN #015-110-06

Township 25, Range 33, M.D.B.&M.

Section 1, consisting of 649.95 acres, more or less

Churchill County APN #005-211-09

Township 24, Range 34, M.D.B.&M.

Section 9: West ? consisting of 278.61 acres, more or less

From WRG:

178 Unpatened Lode Mining Claims in the Pershing County:

BV-1-28, 29-35 (odd), 37-84, 91-102, 104, 106, 108-156, 163-179 (odd), 180-205