9. COMMITMENTS

The following table discloses, as of March 31, 2014, the Company’s contractual obligations including anticipated mineral property payments and work commitments and committed office and equipment lease obligations. Under the terms of the Company’s mineral property purchase agreements, mineral leases and the terms of the unpatented mineral claims held by it, the Company is required to make certain scheduled acquisition payments, incur certain levels of expenditures, make lease or advance royalty payments, make payments to government authorities and incur assessment work expenditures as summarized in the table below in order to maintain and preserve the Company’s interests in the related mineral properties. If the Company is unable or unwilling to make any such payments or incur any such expenditures, it is likely that the Company would lose or forfeit its rights to acquire or hold the related mineral properties. The following table assumes that the Company retains the rights to all of its current mineral properties, but no other lease purchase or royalty buyout options:

	Payments Due by Year
	2014		2015		2016		2017		2018		2019 and beyond		Total
Livengood Property Purchase(1)	$	—	$	—	$	16,300,000	$	—	$	—	$	—	$	16,300,000
Mineral Property Leases(2)	366,236		405,979		410,794		415,681		425,641		430,676		2,455,007
Mining Claim Government Fees	89,110		89,110		89,110		89,110		89,110		89,110		534,660
Office and Equipment Lease Obligations	168,806		78,960		362		362		362		362		249,214
Total	$	624,152	$	574,049	$	16,800,266	$	505,153	$	515,113	$	520,148	$	19,538,881

(1) The amount payable in December 2016 of $16,300,000 represents the fair value of the Company’s derivative liability as at March 31, 2014 and will be revalued at each subsequent reporting period. See note 6.

(2) Does not include required work expenditures, as it is assumed that the required expenditure level is significantly below the work for which will actually be carried out by the Company. Does not include potential royalties that may be payable (other than annual minimum royalty payments). See note 4.