10-Q/A

U. S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Amendment #1)

[X]	QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended June 30, 2014
[ ]	TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to _____________

MEXUS GOLD US

Nevada	000-52413	20-4092640
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of Incorporation)		Identification Number)
	1805 N. Carson Street, #150
	Carson City, NV 89701
	(Address of principal executive offices)
	(916) 776 2166
	(Issuer’s Telephone Number)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes XNo ___

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (Do not check if smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). No [X]

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be filed by Section 12, 13, or 15(d) of the Exchange Act of 1934 after the distribution of securities under a plan confirmed by a court.

Yes	[ ]
No	[ ]

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of August 15, 2014, 256,472,578 shares of our common stock were issued and outstanding.

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to the Quarterly Report on Form 10-Q (the "Form 10-Q") for the quarterly period ended June 30, 2014, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 to the Form 10-Q provides the financial statements and related notes from the Form 10-Q formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

ITEM 6. EXHIBITS

Statements

Consolidated Balance Sheets at June 30, 2014 and March 31, 2014

Consolidated Statements of Operations for the three months ended June 30, 2014 and 2013

Consolidated Statements of Cash Flows for the three months ended June 30, 2014 and 2013

Notes to Consolidated Financial Statements

Schedules

All schedules are omitted because they are not applicable or the required information is shown in the Financial Statements or notes thereto.

	Exhibit	Form	Filing	Filed with
Exhibits	#	Type	Date	This Report
Articles of Incorporation filed with the Secretary of State of Colorado on June 22, 1990	3.1	10-SB	1/24/2007
Articles of Amendment to the Articles of Incorporation filed with the Secretary of State of Colorado on October 17, 2006	3.2	10-SB	1/24/2007
Articles of Amendment to Articles of Incorporation filed with the Secretary of State of the State of Colorado on January 25, 2007	3.3	10KSB	6/29/2007
Amended and Restated Bylaws dated December 30, 2005	3.3	10-SB	1/24/2007
Code of Ethics	14.1	10-KSB	6/29/2007
Certification of Paul D. Thompson, pursuant to Rule 13a-14(a)	31.1			X
Certification of Paul D. Thompson pursuant to 18 U.S.C Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	32.1			X
Caborca Preliminary Report and First Stage Mapping	99.1			X
XBRL Instance Document	101.INS			X
XBRL Taxonomy Extension Schema Document	101.SCH			X
XBRL Taxonomy Extension Calculation Linkbase Document	101.CAL			X
XBRL Taxonomy Extension Definition Linkbase Document	101.DEF			X
XBRL Taxonomy Extension Label Linkbase Document	101.LAB			X
XBRL Taxonomy Extension Presentation Linkbase Document	101.PRE			X

Signatures

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

August 22, 2014

/s/ Paul D. Thompson

Paul D. Thompson

Chief Executive Officer

Chief Financial Officer

Principal Accounting Officer

Director

EX-31.1

Exhibit 31.1

I, Paul D. Thompson, certify that:

1.I have reviewed this Report on Form 10-Q (A/1) for Mexus Gold US;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.           The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:           August 22, 2014

/s/ Paul D. Thompson

Paul D. Thompson

                Chief Executive Officer

Chief Financial Officer

Principal Accounting Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Mexus Gold US, a Nevada Corporation, (the “Company”) on Form 10-Q (A/1) for the Quarter ended June 30, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned certify the following pursuant to Section 18, U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002:

1.   The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.   The information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Paul D. Thompson

Paul D. Thompson

Chief Executive Officer

Chief Financial Officer

Principal Accounting Officer

August 22, 2014

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Common Stock Payable Transactions (Details) (USD $)	Jun. 30, 2014	Jun. 16, 2014	May 01, 2014	Apr. 18, 2014	Apr. 16, 2014	Apr. 02, 2014
Common Stock Payable Transactions parentheticals
Company issued shares of common stock to satisfy obligations under share subscription agreements/ conversion of principal and interest	679,310	919,033	1,427,500	3,056,805	1,053,553	342,063
Value of shares of common stock issued	$ 57,000	$ 36,761			$ 63,213	$ 29,075
Value per share of common stock issued	$ 0.0839				$ 0.060	$ 0.085
Conversion of principal and interest		30,000			38,500	12,500
Loss on settlement of debt		6,761			24,713	16,576
Obligation under share subscription agreements in cash / financing fees				157,492
Obligation in the form of services included in share subscriptions payable.			92,245	78,238
Obligation for settlement of accounts payable included in share subscriptions payable			$ 15,354	$ 5,570

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Secured convertible promissory notes Transactions (details) (USD $)	Aug. 08, 2013	Jun. 12, 2013
Secured convertible promissory notes Transactions
Company entered into a Securities Purchase Agreement with Typenex Co-Investment, LLC in the principal amount		$ 557,500
Convertible Promissory Notes initial tranche		307,500
Initial tranche in cash		250,000
Typenex legal expenses in the amount of		7,500
Original issue discount		50,000
Additional tranche in cash	$ 125,000	$ 250,000
Conversion Price per share as per agreement	$ 0.23	$ 0.23
Exercise Price of the warrants per share	$ 0.24	$ 0.24

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Equipment consists of the following (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Equipment consists of the following
Equipment under construction	$ 85,522	$ 107,522

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Contingent Liabilities (Details) (USD $)	Jun. 30, 2014
Contingent Liabilities Transactions:
Company estimates costs to neutralize those chemicals at the close of the leaching pond.	$ 50,000

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RECENT ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY

3 Months Ended

Jun. 30, 2014

RECENT ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY

RECENT ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY

4.   RECENT ACCOUNTING PRONOUNCEMENTS AFFECTING THE COMPANY

In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company adopted ASU 2014-10 during the quarter ended June 30, 2014, thereby no longer presenting or disclosing any information required by Topic 915.

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Defaulted Senior Notes (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014	Feb. 16, 2014
Defaulted Senior Notes
Company made an unsecured Promissory Note Agreement with William McCreary in the amount			$ 2,500
Interest rate on unsecured Promissory Note			8.00%
Balances on this note totalled	2,500	2,500
Accrued interest on this note included in accounts payable and accrued liabilities	$ 3,235	$ 3,185

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ACCOUNTS PAYABLE - RELATED PARTIES CONSISTS OF (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
ACCOUNTS PAYABLE - RELATED PARTIES FOLLOWS:
Incurred rent expense	$ 11,400	$ 11,400

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Notes payable advances (Details) (USD $)	3 Months Ended
	Jun. 30, 2014
Notes payable advances
Company received various cash advances of from three investors	$ 39,000
Advances are unsecured, earn interest at a rate per annum	10.00%
Percentage of cash advances received by the Company may be converted into shares of common stock of the Company, at the option of the holder	50.00%

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Notes payable related party (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Notes payable related party
Notes payable due to Taurus Gold Inc. totalled	$ 193,391	$ 179,159

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GOING CONCERN

3 Months Ended

Jun. 30, 2014

GOING CONCERN

GOING CONCERN

3. GOING CONCERN

The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying consolidated financial statements, the Company has a limited operating history and limited funds and has an accumulated deficit of $15,267,497 at June 30, 2014. These factors, among others, may indicate that the Company may not be able to continue as a going concern.

The Company is dependent upon outside financing to continue operations. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. It is management’s plans to raise necessary funds through a private placement of its common stock to satisfy the capital requirements of the Company’s business plan. There is no assurance that the Company will be able to raise the necessary funds, or that if it is successful in raising the necessary funds, that the Company will successfully execute its business plan.

The financial statements do not include any adjustments relating to the recoverability and classification of assets and/or liabilities that might be necessary should the Company be unable to continue as a going concern. The continuation as a going concern is dependent upon the ability of the Company to meet our obligations on a timely basis, and, ultimately to attain profitability.

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Company Promissory Notes (Details) (USD $)	Jun. 30, 2014	Apr. 18, 2013
Company Promissory Notes
Company issued Promissory Notes for cash		$ 255,000
Notes bear interest per annum		4.00%
Shares of common stock of the Company issued as fee for Promissory Note holders		2,550,000
Value of common stock of the Company issued as fee for Promissory Note holders		501,075
Per share value of common stock of the Company issued as fee for Promissory Note holders		$ 0.1965
Accrued interest of Promissory Note included in accounts payable and accrued liabilities.	$ 5,320

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Subsequent transactions (Details) (USD $)	Aug. 15, 2014	Jul. 31, 2014	Jul. 03, 2014
Subsequent transactions
Company issued shares of common stock to satisfy obligations under share subscription agreements	1,016,666	467,133	1,103,370
Obligations under share subscription agreements in cash included in share subscriptions payable			$ 39,503
Obligations under share subscription agreements in services included in share subscriptions payable			12,100
Shares of common stock for conversion of principal and interest		19,153
Shares of common stock for services valued	30,500
Loss on settlement of debtin conversion		$ 7,153

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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Jun. 30, 2014	Mar. 31, 2014
CURRENT ASSETS
Cash	$ 911
Prepaid and other assets	86,914	81,747
Investment in marketable securities	108,996	150,114
TOTAL CURRENT ASSETS	196,821	231,861
FIXED ASSETS
Equipment, net of accumulated depreciation	1,461,095	1,567,165
TOTAL FIXED ASSETS	1,461,095	1,567,165
OTHER ASSETS
Deferred finance expense	419	3,503
Equipment under construction	85,522	107,522
Property costs	505,947	505,947
TOTAL OTHER ASSETS	591,888	616,972
TOTAL ASSETS	2,249,804	2,415,998
CURRENT LIABILITIES
Bank overdraft		4,053
Accounts payable and accrued liabilities	77,695	75,006
Accounts payable - related party	57,366	45,966
Notes payable	390,502	351,502
Note payable - related party	193,391	179,159
Promissory notes	255,000	255,000
Secured convertible promissory note (net of unamortized debt discount $9,560 and $88,644, respectively)	288,093	282,861
Secured convertible promissory note derivative liability	306,141	954,410
Warrant derivative liability	445,163	920,927
TOTAL CURRENT LIABILITIES	2,013,351	3,068,884
TOTAL LIABILITIES	2,013,351	3,068,884
CAPITAL STOCKS:
9,000,000 shares of preferred stock, $0.001 par value per share, nil issued and outstanding		0
1,000,000 shares of Series A Convertible Preferred Stock, $0.001 par value per share		0
500,000,000 shares of common stock, $0.001 par value per share		0
Issued and outstanding
375,000 shares of Series A Convertible Preferred Stock (375,000 - March 31, 2014)	375	375
254,902,064 shares of common stock (248,103,110 - March 31, 2014)	254,902	248,103
Additional paid-in capital	14,575,582	14,104,432
Share subscription payable	660,245	952,143
Accumulated equity deficit	(15,267,497)	(16,011,903)
Accumulated other comprehensive income	12,846	53,964
TOTAL SHAREHOLDERS' EQUITY (DEFICIT)	236,453	(652,886)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	$ 2,249,804	$ 2,415,998

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ORGANIZATION AND BUSINESS OF COMPANY

3 Months Ended

Jun. 30, 2014

ORGANIZATION AND BUSINESS OF COMPANY:

ORGANIZATION AND BUSINESS OF COMPANY

1.   ORGANIZATION AND BUSINESS OF COMPANY

Mexus Gold US (the “Company”) was originally incorporated under the laws of the State of Colorado on June 22, 1990, as U.S.A. Connection, Inc.  On October 28, 2005, the Company changed its’ name to Action Fashions, Ltd. On September 18, 2009, the Company changed its’ domicile to Nevada and changed its’ name to Mexus Gold US to better reflect the Company’s new planned principle business operations. The Company has a fiscal year end of March 31.

The Company is a mining company engaged in the evaluation, acquisition, exploration and advancement of gold, silver and copper projects in the State of Sonora, Mexico and the Western United States, as well as, the salvage of precious metals from identifiable sources.

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Warrant derivative liability measured at fair value (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Warrant derivative liability measured at fair value
Closing share price	$ 0.045	$ 0.08
Conversion price per share	$ 0.0225	$ 0.0225
Risk free rate	1.25%	1.32%
Expected volatility rate	104.00%	142.00%
Dividend yield rate	0.00%	0.00%
Expected life in months	47	50
The fair value of the warrant derivative liability	$ 445,163
Decrease in the fair value of the conversion option Warrant derivative liability	$ 475,764

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Warrant derivative liability measurements (Tables)

3 Months Ended

Jun. 30, 2014

Warrant derivative liability measurements:

Warrant derivative liability measurements

The Company’s warrant derivative liability has been measured at fair value at June 30, 2014 and March 31, 2014 using a binomial model. Since the Exercise Price contains an anti-dilution adjustment, the probability that the Exercise Price of the Notes would decrease as the share price decreased was incorporated into the valuation calculation. After June 12, 2013, the Company issued common stock for cash at a price of $0.0225 per share and the conversion price has been adjusted accordingly.

The inputs into the binomial model are as follows:

	June 30, 2014	March 31, 2014
Closing share price	$0.045	$0.08
Conversion price	$0.0225	$0.0225
Risk free rate	1.25%	1.32%
Expected volatility	104%	142%
Dividend yield	0%	0%
Expected life	47 months	50 months

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Company's convertible promissory note derivative liability (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Company's convertible promissory note derivative liability is as follows
Closing share price	$ 0.045	$ 0.08
Conversion price per share	$ 0.0225	$ 0.0225
Risk free rate	0.01%	0.10%
Expected volatility rate	24.00%	105.00%
Dividend yield rate	0.00%	0.00%
Expected life in months	1	4
Fair value of the conversion option derivative liability	$ 306,141
Decrease in the fair value of the conversion option derivative liability	$ 648,269

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GOING CONCERNS (Details) (USD $)	Jun. 30, 2014
GOING CONCERNS detail
Accumulated deficit since entry into the exploration stage	$ 15,267,497

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BASIS OF PREPARATION

3 Months Ended

Jun. 30, 2014

BASIS OF PREPARATION

BASIS OF PREPARATION

2.   BASIS OF PREPARATION

Pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q, the consolidated financial statements, footnote disclosures and other information normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The consolidated financial statements contained in this report are unaudited but, in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the consolidated financial statements.  All significant inter-company accounts and transactions have been eliminated in consolidation. The results of operations for any interim period are not necessarily indicative of results for the full year. The consolidated balance sheet at March 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Management reviews these estimates and assumptions on an ongoing basis using currently available information. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Per Share Data

Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.

Fair Value of Financial Instruments

ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item.

The Company's financial instruments consist of cash, accounts payable, accrued liabilities, advances, notes payable, and a loan payable. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Our investment in marketable securities is measured at fair value on a recurring basis using Level 1 inputs.

Our warrant derivative liability and secured convertible promissory note derivative liability is measured at fair value on a recurring basis using Level 3 inputs.

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The notes payable, loans payable and secured convertible promissory notes have fixed interest rates therefore the Company is exposed to interest rate risk in that they could not benefit from a decrease in market interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities.

Deferred Financing Costs

Deferred financing costs are amortized to interest expense based on the terms of the related debt instruments on a straight-line basis, which approximates the effective interest rate method.

Accounting for Derivative Instruments

Accounting standards require that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value.  A change in the market value of the financial instrument is recognized as a gain or loss in results of operations in the period of change.

Stock-based Compensation

The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.

ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505.

Revenue Recognition

The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred or service has been rendered, the price is fixed or determinable, and collection of the resulting receivable is reasonably assured.

Exploration and Development Costs

Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.

Mineral Property Rights

Costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred either to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs would be based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets.

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CONSOLIDATED BALANCE SHEETS PARENTHETICALS (Unaudited) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Parentheticals
Unamortized debt discount of Secured convertible promissory note	$ 9,560	$ 88,644
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	9,000,000	9,000,000
Series A Convertible Preferred Stock, par value	$ 0.001	$ 0.001
Series A Convertible Preferred Stock, shares authorized	1,000,000	1,000,000
Series A Convertible Preferred Stock, shares issued	375,000	375,000
Series A Convertible Preferred Stock, shares outstanding	375,000	375,000
Common Stock, Par Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	254,902,064	248,103,110
Common Stock, Shares Outstanding	254,902,064	248,103,110

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CONTINGENT LIABILITIES

3 Months Ended

Jun. 30, 2014

CONTINGENT LIABILITIES

CONTINGENT LIABILITIES

12.   CONTINGENT LIABILITIES

An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.  While the Company, as of June 30, 2014, does not have a legal obligation associated with the disposal of certain chemicals used in its leaching process, the Company estimates it will incur costs up to $50,000 to neutralize those chemicals at the close of the leaching pond.

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Document and Entity Information	3 Months Ended
	Jun. 30, 2014	Aug. 15, 2014
Document and Entity Information:
Entity Registrant Name	Mexus Gold US
Document Type	10-Q
Document Period End Date	Jun. 30, 2014
Amendment Flag	false
Entity Central Index Key	0001355677
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		256,472,578
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

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SHAREHOLDERS' EQUITY (DEFICIT)

3 Months Ended

Jun. 30, 2014

SHAREHOLDERS' EQUITY (DEFICIT):

SHAREHOLDERS' EQUITY (DEFICIT)

13.   STOCKHOLDERS’ EQUITY

The stockholders’ equity of the Company comprises the following classes of capital stock as of June 30, 2014 and March 31, 2014:

Preferred Stock, $.001 par value per share; 9,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively.

Series A Convertible Preferred Stock (‘Series A Preferred Stock”), $.001 par value share; 1,000,000 shares authorized: 375,000 shares issued and outstanding at June 30, 2014 and March 31, 2014.

Holders of Series A Preferred Stock may convert one share of Series A Preferred Stock into one share of Common Stock.  Holders of Series A Preferred Stock have the number of votes determined by multiplying (a) the number of Series A Preferred Stock held by such holder, (b) the number of issued and outstanding Series A Preferred Stock and Common Stock on a fully diluted basis, and (c) 0.000006.

Common Stock, par value of $0.001 per share; 500,000,000 shares authorized: 254,902,064 and 248,103,110 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively. Holders of Common Stock have one vote per share of Common Stock held.

On April 1, 2014, the Company issued 342,063 shares of common stock valued at $29,075 ($0.085 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $12,500 and loss on settlement of debt of $16,576.

On April 16, 2014, the Company issued 1,053,553 shares of common stock valued at $63,213 ($0.060 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $38,500 and loss on settlement of debt of $24,713.

On April 18, 2014, the Company issued 3,056,805 shares of common stock to satisfy obligations under share subscription agreements for $157,492 in cash, $78,238 in services and $5,570 for settlement of accounts payable included in share subscriptions payable.

On May 1, 2014, the Company issued 1,427,500 shares of common stock to satisfy obligations under share subscription agreements for $92,245 in services and $15,354 in equipment included in share subscriptions payable.

On June 16, 2014, the Company issued 919,033 shares of common stock valued at $36,761 ($0.040 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $30,000 and loss on settlement of debt of $6,761.

Common Stock Payable

During the three months ended June 30, 2014, the Company issued subscriptions payable for 679,310 shares of common stock for services valued at $57,000 ($0.0839 per share).

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
REVENUES
Revenues	$ 999	$ 109,317
Total revenues	999	109,317
Expenses
General and administrative	129,280	189,786
Exploration costs	43,762	329,768
Stock-based expense - consulting services	57,000	37,500
Loss on sale of equipment	4,672
Loss on settlement of debt	48,050
Total operating expenses	282,764	557,054
OTHER INCOME (EXPENSE)
Interest expense	(91,699)	(161,774)
Foreign exchange loss	(6,162)	(8,591)
Gain (loss) on derivative liabilities	1,124,033	(4,683)
Total Other Income	1,026,172	(175,048)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	744,407	(622,785)
NET LOSS FROM DISCONTINUED OPERATIONS		(519,212)
NET INCOME (LOSS)	744,407	(1,141,997)
OTHER COMPREHENSIVE LOSS
Unrealized loss on marketable securities	(41,118)
Total Other Comprehensive Loss	(41,118)
COMPREHENSIVE INCOME (LOSS)	$ 703,289	$ (1,141,997)
BASIC LOSS PER SHARE FROM CONTINUING OPERATIONS	$ 0	$ 0
BASIC LOSS PER SHARE FROM DISCONTINUED OPERATIONS		$ (0.002)
BASIC LOSS PER COMMON SHARE	$ 0	$ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING- BASIC	251,862,541	213,659,127

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NOTES PAYABLE - RELATED PARTY

3 Months Ended

Jun. 30, 2014

Notes payable related party

NOTES PAYABLE - RELATED PARTY

7.   NOTES PAYABLE – RELATED PARTY

Notes due to Taurus Gold, Inc. are unsecured, non-interest bearing and due on demand.  These notes were accumulated through a series of cash advances to the Company. Taurus Gold, Inc. is controlled by Paul D. Thompson, the sole director and officer of the Company.  As of June 30, 2014 and March 31, 2014, notes payable due to Taurus Gold Inc. totalled $193,391 and $179,159, respectively.

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NOTES PAYABLE

3 Months Ended

Jun. 30, 2014

NOTES PAYABLE:

NOTES PAYABLE

6.   NOTES PAYABLE

During the three months ended June 30, 2014, the Company received various cash advances of $39,000 from three investors. These advances are unsecured, earn interest at 10% per annum and are due within 90 days of issue. One-half of the cash advances received by the Company may be converted into shares of common stock of the Company, at the option of the holder, at either $0.03 per share or $0.04 per share depending on the date the cash advance was received.

Defaulted Senior Notes

On February 16, 2010, the Company made an unsecured Promissory Note Agreement with William McCreary in the amount of $2,500 at eight percent interest and due on demand or no later than September 1, 2010. The Company has not made the scheduled payments and is in default on this note as of December 31, 2011. The default rate on the note is eight percent.  At June 30, 2014 and March 31, 2014, the balances on this note totalled $2,500 and $2,500, respectively.  At June 30, 2014 and March 31, 2014, accrued interest of $3,235 and $3,185 on this note have been included in accounts payable and accrued liabilities, respectively.

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Company's convertible promissory note derivative liability (Tables)

3 Months Ended

Jun. 30, 2014

Company's convertible promissory note derivative liability:

Company's convertible promissory note derivative liability

The Company’s convertible promissory note derivative liability has been measured at fair value at June 12, 2013 and March 31, 2014 using a binomial model. Since the Conversion Price contains an anti-dilution adjustment, the probability that the Conversion Price of the Notes would decrease as the share price decreased was incorporated into the valuation calculation. After June 12, 2013, the Company issued common stock for cash at a price of $0.0225 per share and the conversion price has been adjusted accordingly.

The inputs into the binomial model are as follows:

	June 30, 2014	March 31, 2014
Closing share price	$0.045	$0.08
Conversion price	$0.0225	$0.0225
Risk free rate	0.01%	0.10%
Expected volatility	24%	105%
Dividend yield	0%	0%
Expected life	1 month	4 month

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SUBSEQUENT EVENTS

3 Months Ended

Jun. 30, 2014

SUBSEQUENT EVENTS:

SUBSEQUENT EVENTS

14.   SUBSEQUENT EVENTS

On July 3, 2014, the Company issued 1,103,370 shares of common stock to satisfy obligations under share subscription agreements for $39,503 in cash and $12,100 in services included in share subscriptions payable.

On July 31, 2014, the Company issued 467,133 shares of common stock valued at $19,153 ($0.041 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $12,000 and loss on settlement of debt of $7,153.

During the period from July 1, 2014 to August 15, 2014, the Company issued subscriptions payable for 1,016,666 shares of common stock for services valued at $30,500 ($0.030 per share).

Default of Secured Convertible Promissory Notes

On June 12, 2013, the Company entered into a Securities Purchase Agreement with Typenex Co-Investment, LLC (“Typenex”), for the sale of an 8% Secured Convertible Promissory Notes (“Notes”). See Note 10 – Secured Convertible Promissory Note. The Company did not pay the outstanding principal and interest due on July 12, 2014, the maturity date of the Notes, and the Notes went into default. On default, the Holders at their option may redeem the Notes in full or accelerate installments due on the Notes. The Holders may designate whether the installments are due in cash or discounted shares of common stock of the Company or a combination thereof. The default rate on the note is 22%.

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WARRANT DERIVATIVE LIABILITY

3 Months Ended

Jun. 30, 2014

WARRANT DERIVATIVE LIABILITY:

WARRANT DERIVATIVE LIABILITY

10.   WARRANT DERIVATIVE LIABILITY

The Warrants are subject to anti-dilution adjustments that allow for the reduction in the Exercise Price in the event the Company subsequently issues equity securities including common stock or any security convertible or exchangeable for shares of common stock for no consideration or for consideration less than $0.24 a share. The Company accounted for the warrants in accordance with ASC Topic 815. Accordingly, the Warrants are not considered to be solely indexed to the Company’s own stock and, as such, recorded as a liability.

The Company’s warrant derivative liability has been measured at fair value at June 30, 2014 and March 31, 2014 using a binomial model. Since the Exercise Price contains an anti-dilution adjustment, the probability that the Exercise Price of the Notes would decrease as the share price decreased was incorporated into the valuation calculation. After June 12, 2013, the Company issued common stock for cash at a price of $0.0225 per share and the conversion price has been adjusted accordingly.

The inputs into the binomial model are as follows:

	June 30, 2014	March 31, 2014
Closing share price	$0.045	$0.08
Conversion price	$0.0225	$0.0225
Risk free rate	1.25%	1.32%
Expected volatility	104%	142%
Dividend yield	0%	0%
Expected life	47 months	50 months

The fair value of the warrant derivative liability is $445,163 at June 30, 2014. The decrease in the fair value of the conversion option derivative liability of 475,764 is recorded as a gain in the consolidated statement of operations for the three months ended June 30, 2014.

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PROMISSORY NOTES

3 Months Ended

Jun. 30, 2014

PROMISSORY NOTES:

PROMISSORY NOTES

8.   PROMISSORY NOTES

On April 18, 2013, the Company issued Promissory Notes for $255,000 in cash. The Notes bear interest of 4% per annum and are due on June 30, 2014. The Notes are secured by all of Mexus Gold US shares of stock in Mexus Resources S.A. de C.V. and a personal guarantee of Paul D. Thompson. In addition, a fee of 2,550,000 shares of common stock of the Company valued at $501,075 ($0.1965 per share) was paid to the Note holders on April 18, 2013.  These financing fees are capitalized in the consolidated balance sheet as deferred finance expense and are being amortized on a straight-line basis, which approximates the effective interest rate method, as interest expense over the life of the Promissory Notes.  As of June 30, 2014, the Company has not made the scheduled payments and is in default on these promissory notes.  The default rate on the notes is seven percent.  Accrued interest of $5,320 is included in accounts payable and accrued liabilities.

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SECURED CONVERTIBLE PROMISSORY NOTES

3 Months Ended

Jun. 30, 2014

SECURED CONVERTIBLE PROMISSORY NOTES:

SECURED CONVERTIBLE PROMISSORY NOTES

9.   SECURED CONVERTIBLE PROMISSORY NOTES

On June 12, 2013, the Company entered into a Securities Purchase Agreement with Typenex Co-Investment, LLC (“Typenex”), for the sale of an 8% Secured Convertible Promissory Notes (“Notes”) in the principal amount of $557,500 consisting of an initial tranche of $307,500 comprising of $250,000 of cash at closing, Typenex legal expenses in the amount of $7,500 and a $50,000 original issue discount and an additional tranche $250,000 in cash. On June 12, 2013 the Company closed on the initial tranche and received $250,000 in cash. On August 8, 2013, the Company closed on the second tranche and received $125,000 in cash. The Company has not closed on the final tranche for $125,000 in cash. The Company has no obligation to pay Typenex any amounts on the unfunded portion of the Note. The Notes have a maturity date that is thirteen months after the issuance date. Typenex has been granted a security interest in the property of the Company. At the option of the holder, all principal, costs, charges and interest amounts outstanding under all of the Notes shall be exchanged for shares of the Company’s common stock at the Conversion Price of $0.23 per share. The Conversion Price is subject to an anti-dilution adjustment in the event the Company at any time, while the Notes are outstanding, issues equity securities including common stock or any security convertible or exchangeable for shares of common stock for no consideration or for consideration less than $0.23 a share.

In conjunction with the issuance of the Notes on June 12, 2013, the Company issued a variable number of warrants of the Company’s common stock equal to $278,750 divided by the Market Price.  Market Price is defined as the higher of (i) the closing price of the common stock of the Company on June 12, 2013, and (ii) the VWAP of the common stock for the trading day that is two days prior to the exercise date.  The Exercise Price of the warrants are $0.24 per share. The Exercise Price is subject to an anti-dilution adjustment in the event the Company at any time, while the Warrants are outstanding, issues equity securities including common stock or any security convertible or exchangeable for shares of common stock for no consideration or for consideration less than $0.24 a share.

The anti-dilution protection for the Note and Warrants excludes (a) the Company’s issuance of securities in connection with strategic license agreements and other partnering arrangements so long as any such issuances are not for the purpose of raising capital and in which holders of such securities or debt are not at any time granted registration rights, and (b) the Company’s issuance of Common Stock or the issuance or grant of options to purchase Common Stock to employees, directors, officers and consultants, authorized by the Company’s board of directors in place on June 12, 2013. After three months after the issuance date, monthly installments are due on the Note payable at the option of the Company (i) in cash (ii) in shares of common stock of the Company discounted depending on the Company’s share price at either 30% or 35%, or (iii) in any combination of cash or shares.

On June 12, 2013, the Company recorded a discount on the Note equal to the fair value of the warrant derivative liability and convertible promissory note derivative liability. This discount is amortized using the effective interest rate method over the term of the Note.

	Three Months Ended June 30,
	2014	2013
Cash advanced on closing of the initial tranche and second tranche	$      375,000	$               -
Discounts on Note
Fair value of warrant derivative liability	(219,372)	-
Fair value of convertible promissory note liability	(75,218)	-
Loss on derivative liabilities	14,734	-
Conversion of principal and interest into shares of common stock	(169,444)	-
Amortization of discount on Note	362,393	-
	$       288,093	$               -

The Company did not pay the outstanding principal and interest due on July 12, 2014, the maturity date of the Notes, and the Notes went into default. See Note 15 – Subsequent Events.

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CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

3 Months Ended

Jun. 30, 2014

CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY:

CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

11.   CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

The Notes are subject to anti-dilution adjustments that allow for the reduction in the Conversion Price in the event the Company subsequently issues equity securities including common stock or any security convertible or exchangeable for shares of common stock for no consideration or for consideration less than $0.23 a share. The Company accounted for the conversion option in accordance with ASC Topic 815. Accordingly, the Conversion Option is not considered to be solely indexed to the Company’s own stock and, as such, recorded as a liability.

The Company’s convertible promissory note derivative liability has been measured at fair value at June 12, 2013 and March 31, 2014 using a binomial model. Since the Conversion Price contains an anti-dilution adjustment, the probability that the Conversion Price of the Notes would decrease as the share price decreased was incorporated into the valuation calculation. After June 12, 2013, the Company issued common stock for cash at a price of $0.0225 per share and the conversion price has been adjusted accordingly.

The inputs into the binomial model are as follows:

	June 30, 2014	March 31, 2014
Closing share price	$0.045	$0.08
Conversion price	$0.0225	$0.0225
Risk free rate	0.01%	0.10%
Expected volatility	24%	105%
Dividend yield	0%	0%
Expected life	1 month	4 month

The fair value of the conversion option derivative liability is $306,141 at June 30, 2014. The decrease in the fair value of the conversion option derivative liability of $648,269 is recorded as a gain in the unaudited consolidated condensed statement of operations for the year ended March 31, 2014.

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Convertible promissory note derivative liability (Details) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Convertible promissory note derivative liability Details
Cash advanced on closing of the initial tranche	$ 375,000	$ 0
Fair value of warrant derivative liability	(219,372)	0
Fair value of convertible promissory note liability	(75,218)	0
Loss on derivative liabilities	14,734	0
Conversion of principal and interest into shares of common stock	(169,444)	0
Amortization of discount on Note	362,393	0
Total Convertible promissory note derivative liability	$ 288,093	$ 0

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Company's secured convertible promissory notes (Tables)

3 Months Ended

Jun. 30, 2014

Company's secured convertible promissory notes:

Company's secured convertible promissory notes

On June 12, 2013, the Company recorded a discount on the Note equal to the fair value of the warrant derivative liability and convertible promissory note derivative liability. This discount is amortized using the effective interest rate method over the term of the Note.

	Three Months Ended June 30,
	2014	2013
Cash advanced on closing of the initial tranche and second tranche	$      375,000	$               -
Discounts on Note
Fair value of warrant derivative liability	(219,372)	-
Fair value of convertible promissory note liability	(75,218)	-
Loss on derivative liabilities	14,734	-
Conversion of principal and interest into shares of common stock	(169,444)	-
Amortization of discount on Note	362,393	-
	$       288,093	$               -

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Notes due to Related parties (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
Notes due to Related parties consists the following
Notes payable due to Taurus Gold Inc. totalled	$ 193,391	$ 179,159

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 744,407	$ (1,141,997)
Loss from discontinued operations		519,212
Net income (loss) from continuing operations	744,407	(622,785)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	82,398	85,684
Loss on sale of equipment	4,672
Loss on settlement of debt	48,050
Stock-based compensation - services	57,000	37,500
Interest expense	91,699	161,774
Impairment of equipment included in exploration costs		7,500
Allowance for amount due from First Pursuit Silver de Mexico S. de R.L. de C.V.		0
Bad debt expense - related party		247,509
Gain (loss) on derivatives	(1,124,033)	4,683
Changes in operating assets and liabilities:
Prepaid and other assets	(5,167)	(1,573)
Accounts payable and accrued liabilities, including related parties	11,706	19,154
NET CASH USED IN OPERTATING ACTIVITIES	(89,268)	(60,554)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment		(1,200)
Purchase of equipment under construction		(45,903)
Issuance of notes receivable		(247,509)
Proceeds from sale of equipment	41,000
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITES	41,000	(294,612)
CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft	(4,053)
Proceeds from issuance of notes payable	39,000	285,894
Payments on notes payable		(50,000)
Proceeds from issuance of convertible promissory notes		250,000
Advances from related party	14,232	42,350
Payment on advances from related party		(12,921)
Proceeds from issuance of common stock		338,900
NET CASH PROVIDED BY FINANCING ACTIVITIES	49,179	854,223
NET CASH USED IN OPERATING ACTIVITIES- DISCONTINUED OPERATIONS		(519,212)
INCREASE (DECREASE) IN CASH	911	(20,155)
CASH, BEGINNING OF PERIOD		104,701
LESS: CASH DISCONTINUED OPERATIONS END OF PERIOD		(1,388)
CASH, CONTINUING OPERATIONS AT THE END OF PERIOD	911	83,158
Supplemental disclosure of cash flow information:
Interest paid		15,000
Taxes paid		0
Shares issued for notes payable	81,000
Shares issued and unissued for equipment purchase		$ 6,500

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ACCOUNTS PAYABLE - RELATED PARTIES

3 Months Ended

Jun. 30, 2014

ACCOUNTS PAYABLE - RELATED PARTIES:

ACCOUNTS PAYABLE - RELATED PARTIES

5.   ACCOUNTS PAYABLE – RELATED PARTIES

During the three months ended June 30, 2014 and 2013, the Company incurred rent expense to Paul D. Thompson, the sole director and officer of the Company, of 11,400 and 11,400, respectively.  At June 30, 2014 and March 31, 2014, $57,366 and $45,966 for this obligation is outstanding, respectively.

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ACCOUNTS PAYABLE - RELATED PARTIES (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
ACCOUNTS PAYABLE - RELATED PARTIES AS FOLLOWS
Obligation outstanding	$ 57,366	$ 45,966

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CAPITAL STOCKS (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014
CAPITAL STOCKS:
Preferred Stock par value per share	$ 0.001	$ 0.001
Preferred Stock Authorized Shares	9,000,000	9,000,000
Preferred stock shares issued and outstanding	0	0
Series A Preferred Stock par value per share	$ 0.001	$ 0.001
Series A Preferred Stock Authorized Shares	1,000,000	1,000,000
Series A Preferred stock shares issued and outstanding	375,000	375,000
Common Stock par value per share.	$ 0.001	$ 0.001
Common Stock Authorized Shares.	500,000,000	500,000,000
Common Stock issued shares.	254,902,064	248,103,110
Common Stock outstanding shares.	254,902,064	248,103,110

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ACCOUNTING POLICIES (POLICIES)

3 Months Ended

Jun. 30, 2014

ACCOUNTING POLICIES (POLICIES):

BASIS OF PREPARATION, Policy

BASIS OF PREPARATION

Pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q, the consolidated financial statements, footnote disclosures and other information normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The consolidated financial statements contained in this report are unaudited but, in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the consolidated financial statements.  All significant inter-company accounts and transactions have been eliminated in consolidation. The results of operations for any interim period are not necessarily indicative of results for the full year. The consolidated balance sheet at March 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Management reviews these estimates and assumptions on an ongoing basis using currently available information. Actual results could differ from those estimates.

Cash and cash equivalents Policy

Cash and Cash Equivalents

The Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Per Share Data

Per Share Data

Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.

Fair Value of Financial Instruments Policy

Fair Value of Financial Instruments

ASC Topic 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements.

Included in the ASC Topic 820 framework is a three level valuation inputs hierarchy with Level 1 being inputs and transactions that can be effectively fully observed by market participants spanning to Level 3 where estimates are unobservable by market participants outside of the Company and must be estimated using assumptions developed by the Company. The Company discloses the lowest level input significant to each category of asset or liability valued within the scope of ASC Topic 820 and the valuation method as exchange, income or use. The Company uses inputs which are as observable as possible and the methods most applicable to the specific situation of each company or valued item.

The Company's financial instruments consist of cash, accounts payable, accrued liabilities, advances, notes payable, and a loan payable. The carrying amount of these financial instruments approximate fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

Our investment in marketable securities is measured at fair value on a recurring basis using Level 1 inputs.

Our warrant derivative liability and secured convertible promissory note derivative liability is measured at fair value on a recurring basis using Level 3 inputs.

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interest rates. The notes payable, loans payable and secured convertible promissory notes have fixed interest rates therefore the Company is exposed to interest rate risk in that they could not benefit from a decrease in market interest rates. In seeking to minimize the risks from interest rate fluctuations, the Company manages exposure through its normal operating and financing activities.

Deferred Financing Costs Policy

Deferred Financing Costs

Deferred financing costs are amortized to interest expense based on the terms of the related debt instruments on a straight-line basis, which approximates the effective interest rate method.

Accounting for Derivative Instruments

Accounting for Derivative Instruments

Accounting standards require that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value.  A change in the market value of the financial instrument is recognized as a gain or loss in results of operations in the period of change.

Stock-based Compensation Policy

Stock-based Compensation

The Company records stock based compensation in accordance with the guidance in ASC Topic 718 which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.

ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505.

Revenue Recognition

Revenue Recognition

The Company recognizes revenues and the related costs when persuasive evidence of an arrangement exists, delivery and acceptance has occurred or service has been rendered, the price is fixed or determinable, and collection of the resulting receivable is reasonably assured.

Exploration and Development Costs

Exploration and Development Costs

Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.

Mineral Property Rights

Mineral Property Rights

Costs of acquiring mining properties are capitalized upon acquisition. Mine development costs incurred either to develop new ore deposits, to expand the capacity of mines, or to develop mine areas substantially in advance of current production are also capitalized once proven and probable reserves exist and the property is a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. Costs of abandoned projects are charged to operations upon abandonment. The Company evaluates the carrying value of capitalized mining costs and related property and equipment costs, to determine if these costs are in excess of their recoverable amount whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Evaluation of the carrying value of capitalized costs and any related property and equipment costs would be based upon expected future cash flows and/or estimated salvage value in accordance with Accounting Standards Codification (ASC) 360-10-35-15, Impairment or Disposal of Long-Lived Assets.