INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

INCOME TAXES

Schedule of reconciliation of income taxes at statutory rates with the reported taxes

	December 31, 2013			December 31, 2012
Loss from continuing operations before income taxes	$	(9,852,480	)	$	(56,643,462	)
Statutory Canadian corporate tax rate	25.00		%	25.00		%
Income tax recovery at statutory rates	$	(2,463,120	)	$	(14,160,866	)
Share-based payments	891,068			2,301,744
Unrecognized items for tax purposes	(1,634,335		)	(131,503		)
Difference in tax rates in other jurisdictions	(1,036,959		)	(8,473,936		)
Unrecognized amounts	4,243,346			20,464,561
Income tax recovery	$	—		$	—

Schedule of significant components of the Company's deferred income tax assets and liabilities

	December 31, 2013			December 31, 2012
Deferred income tax assets (liabilities):
Mineral properties	$	57,243,322		$	56,693,975
Derivative liability	(1,801,100		)	(151,900		)
Other	63,539			51,515
Share issue costs	409,503			732,798
Non-capital losses available for future periods	28,245,574			22,597,296
	84,160,838			79,923,684
Valuation allowance	(84,160,838		)	(79,923,684		)
Deferred income tax asset	$	—		$	—

Schedule of expiration year of available net loss carryforward

At December 31, 2013, the Company has available net operating losses for Canadian income tax purposes of approximately $15,842,000 and net operating losses for US income tax purposes of approximately $55,956,000 available for carry-forward to reduce future years’ taxable income, if not utilized, expiring as follows:

	Canada		United States
2025	$	65,000	$	—
2026	78,000		—
2027	907,000		1,252,000
2028	1,253,000		1,350,000
2029	2,074,000		2,600,000
2030	2,829,000		5,691,000
2031	4,180,000		14,730,000
2032	2,629,000		18,371,000
2033	1,827,000		11,962,000
	15,842,000		55,956,000