10-K/A

U. S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Amendment #1)

(Mark One)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2015

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to _____________

Commission File Number: 000-52413

Mexus Gold us

(Name of small business issuer as specified in its charter)

Nevada	20-4092640
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1805 N. Carson Street, Suite 150 Carson City, NV 89701 ________________________________________________________________________ (Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (916) 776-2166

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: common stock, $.001par value

___________________

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. No [X]

Indicate by check mark whether the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No [X]

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 [X]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment of this Form 10-K. Yes [ ]

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]

The aggregate market value of the voting and non-voting common equity held by non-affiliates on June 29, 2015, based upon the $0.05 per share closing price for our common stock on the OTC Bulletin Board was approximately $9,285,498

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Indicate by check mark 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 REGISTRANTS)

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: As of June 30, 2015, there were 332,974,887 shares of our common stock were issued and outstanding.

DOCUMENTS INCORPORATE BY REFERENCE

List hereunder the following documents if incorporated by reference and the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes (e.g., annual report to securities holders for fiscal year ended December 24, 1980).

EXPLANATORY NOTE

The sole purpose of this Amendment No. 1 to the Annual Report on Form 10-K (the "Form 10-K") for the year ended March 31, 2015, is to furnish Exhibit 101 to the Form 10-K in accordance with Rule 405 of Regulation S-T. Exhibit 101 to the Form 10-K provides the financial statements and related notes from the Form 10-K formatted in XBRL (eXtensible Business Reporting Language).

No other changes have been made to the Form 10-K. This Amendment No. 1 to the Form 10-K speaks as of the original filing date of the Form 10-K, 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-K.

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 15. Exhibits, Financial Statement Schedules.

Statements
Report of Independent Registered Public Accounting Firm
Balance Sheets at March 31, 2015 and 2014
Statements of Operations for the years ended March 31, 2015 and 2014
Statements of Changes in Shareholders' Equity (Deficit) for the years ended March 31, 2015 and 2014
Statements of Cash Flows for the years ended March 31, 2015 and 2014
Notes to 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 Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

MEXUS GOLD US

/s/ Paul D. Thompson

By: Paul D. Thompson

Its: President

Principle Accounting Officer

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant on the capacities and on the dates indicated.

Signatures	Title	Date
/s/ Paul D. Thompson Paul D. Thompson	Chief Executive Officer Chief Financial Officer Principal Accounting Officer President Secretary Director	July 17, 2015

EX-31.1

Exhibit 31.1

I, Paul D. Thompson, certify that:

1.I have reviewed this Report on Form 10-K (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:           July 17, 2015

/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-K (A/1) for the year ended March 31, 2015, 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

July 17, 2015

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Continuity of exploration costs expensed in the consolidated statements of operations (Details) {Stockholders equity} - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Ures (a)
Balance of Continuity of exploration costs	$ 1,910,649	$ 12,720,105
Cash Payments	0	469,779
Share-based Payments	0	168,860
Balance of Continuity of exploration costs	1,910,649	1,910,649
Corborca (b)
Balance of Continuity of exploration costs	1,761,742	1,123,103
Cash Payments	420,579	469,779
Share-based Payments	149,546	168,860
Balance of Continuity of exploration costs	2,331,867	1,761,742
Total continuity of exploration costs
Balance of Continuity of exploration costs	3,672,391	2,395,113
Cash Payments	420,579	939,558
Share-based Payments	149,546	337,720
Balance of Continuity of exploration costs	$ 424,516	$ 3,672,391

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Convertible Promissory Note Derivative Liabilities - Inputs into the Black-Scholes models (Details) - USD ($)	Mar. 31, 2015	Jan. 28, 2015
Inputs into the Black-Scholes models Details
Closing share price	$ 0.0194	$ 0.0290
Conversion price	$ 0.019	$ 0.025
Risk free rate	0.50%	0.50%
Expected volatility	129.00%	121.00%
Dividend yield	0.00%	0.00%
Expected life in years	1.83	2.0
Fair value of the conversion option derivative liabilities at	$ 167,678

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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		$ 250,000
Conversion Price per share as per agreement		$ 0.23
Exercise Price of the warrants per share		$ 0.24
Company closed on the second tranche and received in cash	$ 125,000
Company has not closed on the final tranche in cash	125,000
Company issued a variable number of warrants of the Company's common stock	$ 278,750

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Fair value of the conversion option derivative liabilities - During The Period (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Fair value of the conversion option derivative liabilities - During the period Details
Increase (decrease) in the fair value of the conversion option derivative liability is recorded as gain (loss)	$ (786,732)	$ 897,192

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Notes payable agreements (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Feb. 04, 2014	Jan. 08, 2013	Feb. 16, 2010
Notes payable agreements
Company entered into an unsecured promissory note agreement in the amount				$ 185,000
Finance charge due upon payment				$ 5,000
Company issued shares of common stock to pay the loan				5,000,000
Company paid in principal of debt	$ 50,000
Principal amount outstanding	140,000	$ 140,000
Company received cash advances	15,000		$ 30,000
Note payable with a face value			$ 36,000
Balance of note February 4, 2014	300,000	30,000
Accrued interest February 4, 2014	6,000	0
Amount repaid to four unrelated shareholders of the Company	$ 500
Interest rate on unsecured Promissory Note	10.00%				8.00%
The balance of the advances totaled	$ 14,500	14,500
The balances on the note totaled on February 16, 2010	2,500	2,500
Company made an unsecured Promissory Note Agreement with William McCreary in the amount					$ 2,500
Accrued interest on this note included in accounts payable and accrued liabilities February 16, 2010	3,540	3,185
Company received various cash advances of from three investors		209,502
Company received various cash advances from twenty-two investors	$ 286,757
These advances are unsecured and with number of days	90
Debt discount	$ 14,922	$ 0

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Schedule of Income taxes (Tables)

12 Months Ended

Mar. 31, 2015

Schedule of Income taxes:

Schedule of Components of Income Tax Expense (Benefit)

The following table presents income before taxes and income tax expense as well as the taxes charged to stockholders equity:

	Year Ended March 31, 2015	Year Ended March 31, 2014
Net loss before taxes	$        (947,856)	$     (6,993,406)
Income tax expense charged to loss before taxes	$                      -	$                      -

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected consolidated income tax expense, computed by applying a 35% U.S. Federal corporate income tax rate to income before taxes to income tax expense is as follows:

	Year Ended March 31, 2015	Year Ended March 31, 2014
Expected tax expense (recovery)	$       (332,000)	$       (2,448,000)
Share-based payments	107,000	260,000
Loss on sale of equipment	6,000	2,000
Gain on settlement of debt	118,000	50,000
Impairment of marketable securities	34,000	-
Impairment of equipment	-	3,000
Interest	177,000	286,000
Gain (loss) on derivatives	(469,000)	558,000
Allowance	-	(1,184,000)
Change in valuation allowance	359,000	2,473,000
	$                       -	$                       -

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Captial Stock Transactions (Details) - $ / shares	Mar. 31, 2015	Mar. 31, 2014
Capital Stock Transactions
Par value per share of Preferred stock	$ 0.001	$ 0.001
Authorized shares of Preferred stock	9,000,000	9,000,000
Issued and outstanding shares of Preferred stock	0	0
Par value per share of Series A Convertible Preferred stock	$ 0.001	$ 0.001
Authorized shares of Series A Convertible Preferred stock	1,000,000	1,000,000
Issued and outstanding shares of Series A Convertible Preferred stock	375,000	375,000
Value per share on conversion in to common stock	$ 0.000006	$ 0.000006
Par value per share of Common stock	$ 0.001	$ 0.001
Authorized shares of Common stock	500,000,000	500,000,000
Issued and outstanding shares of Common Stock	308,236,718	248,103,110

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SUBSEQUENT EVENTS

12 Months Ended

Mar. 31, 2015

SUBSEQUENT EVENTS:

SUBSEQUENT EVENTS

19.   SUBSEQUENT EVENTS

Common Stock

On April 14, 2015 the Company issued 1,840,908 shares of common stock to satisfy obligations under share subscription agreements for $21,318 for settlement of notes payable and $7,500 in services included in share subscriptions payable.

On April 21, 2015 the Company issued 4,745,452 shares of common stock to satisfy obligations under share subscription agreements for $21,318 for settlement of notes payable, $12,000 in services and $18,800 in cash receipts included in share subscriptions payable.

On May 13, 2015 the Company issued 3,176,134 shares of common stock to satisfy obligations under share subscription agreements for $22,500 for settlement of notes payable, $10,000 in equipment and $9,000 in cash receipts included in share subscriptions payable.

On June 10, 2015 the Company issued 6,455,863 shares of common stock to satisfy obligations under share subscription agreements for $104,000 for settlement of accounts payable, $9,534 in services and $22,500 in cash receipts included in share subscriptions payable.

On June 23, 2015 the Company issued 1,800,000 shares of common stock to satisfy obligations under share subscription agreements for $20,000 in services and $20,000 in cash receipts included in share subscriptions payable.

On April 18, 2015 and May 1, 2015, the Company issued a total of 6,719,815 shares of common stock valued at $126,886 ($0.0189 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $75,000 and loss on settlement of debt of $51,866.

Common Stock Payable

During the three months ended June 30, 2015, the Company issued subscriptions payable for 1,877,562 shares of common stock ($0.0100 per share) for $18,776 in cash.

During the three months ended June 30, 2015, the Company issued subscriptions payable for 3,436,166 shares of common stock for services valued at $49,234 ($0.0143 per share).

During the three months ended June 30, 2015, the Company issued subscriptions payable for 312,500 shares of common stock for purchase of equipment valued at $10,000 ($0.0320 per share).

During the three months ended June 30, 2015, the Company issued subscriptions payable for 3,525,000 shares of common stock for settlement of accounts payable valued at $104,000 ($0.0295 per share).

During the three months ended June 30, 2015, the Company issued subscriptions payable for 8,772,723 shares of common stock for settlement of notes payable valued at $96,500 ($0.0110 per share).

Notes Payable

On April 6, 2015, the Company issued a Convertible Promissory Note (“Note”) to LGH Investments, Inc. (“Holder”), in the original principal amount of $110,000 bearing a 12% annual interest rate and maturing in two years for $100,000 of consideration paid in cash and a $10,000 original issue discount. This Note together with any unpaid accrued interest is convertible into shares of common stock at the Holder’s option at a variable conversion price calculated as lessor of (a) $0.019 or (b) 60% of the lowest trade occurring during the 25 consecutive trading days immediately preceding the conversion date. On April 6, 2015, the Company received cash of $25,000 in the first tranche, which was net of original issue discount of $2,500.

On June 11, 2015, the Company issued a Convertible Promissory Note (“Note”) to Lucas Hoppel (“Holder”), in the original principal amount of $110,000 bearing a 12% annual interest rate and maturing in two years for $100,000 of consideration paid in cash and a $10,000 original issue discount. This Note together with any unpaid accrued interest is convertible into shares of common stock at the Holder’s option at a variable conversion price calculated as lessor of (a) $0.018 or (b) 60% of the lowest trade occurring during the 25 consecutive trading days immediately preceding the conversion date. On June 11, 2015, the Company received cash of $25,000 in the first tranche, which was net of original issue discount of $2,500.

Option and Joint Venture Agreement

On July 6, 2015, Mexus Gold Mining, S.A. de C.V., a wholly owned Mexican subsidiary of the Company (“Mexus”), entered into an Option and Joint Venture Agreement (“Agreement”) with Minera Real Del Oro, S.A. De C.V., a wholly owned Mexican subsidiary of Argonaut Gold, Inc., a Canadian gold company engaged in exploration, mine development and production activities (“Argonaut”).  Pursuant to the Agreement, Mexus has granted Argonaut an exclusive and irrevocable option to acquire all rights to Mexus’ mining concessions located in Caborca, Mexico, Sonora State described as the Marta Elena, Julio II-VII and Mexus III Claims (the “Mining Concessions”).

According the Agreement, Mexus will transfer its Mining Concessions into a newly formed Mexican Company (“Newco”), and Argonaut will have the sole option to purchase up to 80% ownership of Newco in accordance with the terms of the Agreement.  The initial option period expires on December 31, 2015.

A summary of Argonaut’s required payments to Mexus for the option and required expenditures relating to the Mining Conessions are as follows:

1. Argonaut will make a cash payment to Mexus of US$75,000 upon execution of the Agreement plus incur required expenditures relating to the Mining Concessions of not less than US$300,000 by December 31, 2015.

2. In the event that Argonaut desires to extend the option period to June 30, 2016, Argonaut shall pay a cash payment to Mexus  of  US$125,000 plus incur required expenditures relating to the Mining Concessions of not less than US$500,000.

3. In the event that Argonaut desires to extend the option period to December 31, 2016, Argonaut shall pay a cash payment to Mexus of US$350,000 plus incur required expenditures relating to the Mining Concessions of not less than US$1,000,000.

4. In the event that Argonaut desires to extend the option period to December 31, 2017, Argonaut shall pay a cash payment to Mexus of US$400,000 plus incur required expenditures relating to the Mining Concessions of not less than US$3,300,000.

5.  Argonaut is responsible for paying all land taxes, annual concessions or permit fees and the monthly lease of US$1,000 during the term of the Agreement.  In addition, prior to July 6, 2016, Argonaut must expend a minimum of US$600,000 in expenditures relating to drilling Reverse Circulation and/or Core or a combination of both drill holes in relation to the Mining Concessions.

6.  At any time prior to December 31, 2018, Argonaut may exercise the option, provided that it has incurred minimal expenditures on the project of US$5,000,000 and made cash payments to Mexus equal to US$950,000.

Once the option is exercised, Argonaut will hold an 80% interest of Newco and Mexus will hold a 20% interest in Newco.  All mining operations will be funded by Argonaut at no cost to Mexus.  Newco will be managed by three board members, one of which will be Mexus.  Argonaut reserves the right to terminate the Agreement at any time with 30 days written notice provided that the required payments to Mexus have been made in accordance with the terms of the Agreement.

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Convertible promissory note derivative liability (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Convertible promissory note derivative liability Details
Opening balance	$ 282,861	$ 0
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 into shares of common stock	(268,663)	(60,995)
Amortization of discount on Note	88,644	248,712
Closing balance	$ 102,842	$ 282,861

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Equipment - Depreciation expense (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Depreciation expense Details:
Depreciation expense for the period	$ 330,678	$ 356,509

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Summarizes the results from discontinued operations (Details)	12 Months Ended
	Mar. 24, 2014 USD ($)
REVENUES
Revenues	$ 581,489
Total revenues	581,489
EXPENSES
General and administrative	3,201
Exploration costs	2,367,956
Bad debt - related party	239,084
Total operating expenses	2,610,241
OTHER INCOME (EXPENSE)
Foreign exchange	22,345
TOTAL OTHER INCOME (EXPENSE)	22,345
NET LOSS OF MEXUS ENTERPRISES S.A. DE C.V.	$ (2,006,407)

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Fair value of the conversion option derivative liability - During The Period (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Fair value of the conversion option derivative liability - During the period Details
Increase (decrease) in the fair value of the conversion option derivative liability has been recorded as gain (loss)	$ (513,342)	$ 716,288

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Subsequent Events - Common Stock Payable (Details) - 3 months ended Jun. 30, 2015 - USD ($)	Total
Subsequent Events - Common Stock Payable Details
Company issued subscriptions payable for cash	1,877,562
Per share value of issued subscriptions payable for cash	$ 0.0100
Value of issued subscriptions payable for cash	$ 18,776
Company issued subscriptions payable for services	3,436,166
Per share value of issued subscriptions payable for services	$ 0.0143
Value of issued subscriptions payable for services	$ 49,234
Company issued subscriptions payable for purchase of equipment	312,500
Per share value of issued subscriptions payable for purchase of equipment	$ 0.0320
Value of issued subscriptions payable for purchase of equipment	$ 10,000
Company issued subscriptions payable for settlement of accounts payable	3,525,000
Per share value of issued subscriptions payable for settlement of accounts payable	$ 0.0295
Value of issued subscriptions payable for settlement of accounts payable	$ 104,000
Company issued subscriptions payable for settlement of notes payable	8,772,723
Per share value of issued subscriptions payable for settlement of notes payable	$ 0.0110
Value of issued subscriptions payable for settlement of notes payable	$ 96,500

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Related Party Transactions - Rent expense - During The Period (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related Party Transactions - Rent expense - During the period Details
Rent expense incurred to Paul D. Thompson, the sole director and officer of the Company	$ 45,600	$ 45,600

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Promissory Notes (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 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.	$ 30,133
Deferred finance expenses of promissory notes.	$ 0	$ 3,503

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SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

12 Months Ended

Mar. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

3. SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES

This summary of significant accounting policies of the Company is presented to assist in understanding the Company’s consolidated financial statements. The financial statements and notes are representations of the Company’s management, which is responsible for their integrity and objectivity.

These accounting policies conform to accounting principles generally accepted in the United States of America and are presented in U.S. dollars.

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and controlled subsidiaries, Mexus Gold Mining, S.A. de C.V. (“Mexus Gold Mining) and the Joint Venture between Mexus Gold US, Mexus Gold Mining, Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. The portion of less than wholly-owned subsidiaries is included as non-controlling interest.  Significant intercompany accounts and transactions have been eliminated.

On October 20, 2009, the Company entered into a 180 day option agreement with Mexus Gold Mining, pursuant to which the Company acquired the right to acquire 99% of the capital stock of Mexus Gold Mining, S.A. The option price is 20 million restricted shares of the Company’s common stock and the exercise price is 20 million restricted shares of the Company’s common stock. The agreement is conditioned upon Mexus Gold Mining, obtaining an audit of its financial records by public accountants acceptable to the standards required for financial reporting purposes in the United States of America. The term of the option may be extended by the Company for such reasonable time as is required by Mexus Gold Mining, to complete its audit.  On November 16, 2010, the Company purchased the option by issuing 20 million of its restricted shares and on February 11, 2010 the Company exercised the option by issuing 20 million its restricted shares thereby acquiring 99% of the capital stock of Mexus Gold Mining   The shareholder of Mexus Gold Mining, prior to its acquisition, was Paul Thompson Sr., the sole officer and director of Mexus Gold US.  As such, the acquisition is accounted for as a common control transaction under Accounting Standards Code ("ASC") 805-50. No new basis of accounting was established upon acquisition and the Company carried forward the carrying amounts of assets and liabilities that were contributed.

On November 1, 2012, Mexus Gold US and Mexus Gold Mining entered into a Joint Venture Agreement, for a term of fifty years, with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. (“Participants”). The assets, liabilities and operations of the Joint Venture are held by Mexus Enterprises S.A. de C.V., a 100% owned subsidiary of Mexus Gold US. The Participants agreed to contribute to the Joint Venture certain mining concessions located in the Municipality of Caborca, Sonora, Mexico. In exchange for the mining concessions described above, the Company agreed to provide $1,500,000 in operating advances to the Joint Venture within 30 days of the execution date of the Joint Venture Agreement and issue 1,000,000 shares of Mexus Gold US common stock which were valued at $400,000 ($0.40 per share) to the legal representative of Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. The Company has accounted for the acquisition of and the Participant’s interest in the mining concession as an asset acquisition. The Joint Venture is consolidated as the Company appoints two of three members of the Administrating Committee of the Joint Venture, serves as the operator of the Joint Venture and receives 60% ownership of net revenue from the mining concessions presently under production and extraction operations. The Company under the Joint Venture Agreement allocates 40% of its net income (loss) to non-controlling interest in the consolidated financial statements.

Once the Joint Venture has repaid all debts and provides sufficient net profits in the opinion of the Company, as operator, the interest will revert to 51%. At this point, 49% of its net income (loss) will be allocated to non-controlling interest. On June 30, 2013, the Joint Venture Agreement was terminated by the Company.

On July 1, 2013, Mexus Gold US sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to Atzek Mineral S.A. de C.V. for a total price of $1,931 (25,000 Mexican Pesos). The 50 shares sold represent 50% of the fixed capital stock of Mexus Enterprises S.A. de C.V. As a result, the Company holds 50% of the fixed capital stock of Mexus Enterprises S.A. de C.V. On July 1, 2013, the Company determined that it was the primary beneficiary of Mexus Enterprises S.A. de C.V. as the Company’s interest in the Mexus Enterprises S.A. de C.V. is subject to variability based on results from operations and changes in the fair value. Mexus Gold US continues to be the operator of the Project and Mexus Gold US is responsible to absorb any losses of Mexus Enterprises S.A. de C.V. as Mexus Gold US has provided significantly all of the financing of Mexus Enterprises S.A. de C.V. through inter-company advances. As Mexus Gold US continues to control Mexus Enterprises S.A. de C.V., the change in the non-controlling interest from 40% to 50% in the assets, liabilities and operations of Mexus Enterprises S.A. de C.V. is treated as a capital transaction.

On March 24, 2014, the Company resigned as the operator of the Project and sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to First Pursuit Silver de Mexico S. de R.L. de C.V. The 50 shares sold represent 50% of the fixed capital stock of Mexus Enterprises S.A. de C.V. As a result, the Company holds 0% of the fixed capital stock and its investment in Mexus Enterprises S.A. de C.V. was deconsolidated. The results of operations for Mexus Enterprises S.A. de C.V. have been included in the consolidated financial statements of the Company up to March 24, 2014. The assets and liabilities and operating results of Mexus Enterprises S.A. de C.V. have been retroactively reclassified in the consolidated financial statements as discontinued operations for all periods presented. Unless otherwise indicated, all disclosures and amounts in the Notes to the consolidated financial statements relate the Company’s continuing operations. The reclassification has no effect on reported net loss. See Note 4 Discontinued Operations.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Management believes that the estimates used are reasonable.

Cash and cash equivalents

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

Investments

Notes receivable and investment in marketable securities are classified as available-for-sale. Available-for-sale securities are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a component of other comprehensive income/(loss).  Realized gains and losses and charges for other-than-temporary impairments are included in determining net income, with related purchase costs based on the first-in, first-out method.  For impairments that are other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s cost and its fair value at the balance sheet date of the reporting period for which the assessment is made.  The fair value of the investment then becomes the new amortized cost basis of the investment and it is not adjusted for subsequent recoveries in fair value.

Equipment

Equipment consists of mining tools and equipment, watercraft and vehicles which are depreciated on a straight-line basis over their expected useful lives as follows (see Note 6):

Mining tools and equipment     7 years

Watercrafts                                  7 years

Vehicles                                        3 years

Equipment under Construction

Equipment under construction comprises mining equipment that is currently being fabricated and modified by the Company and is not presently in use. Equipment under construction totaled $72,939 and $107,522 as of March 31, 2015 and 2014 respectively.  Equipment under construction at March 31, 2015 comprises Cone 1709, Equipment Fabrication Materials, Hydraulic Drum 12YD, Skid Mounted Mill and Survey Winch Marine.

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.

Long-Lived Assets

In accordance with ASC 360, Property Plant and Equipment the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

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.

On March 24, 2014, the Company resigned as the operator of the Joint Venture with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. and sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to First Pursuit Silver de Mexico S. de R.L. de C.V. for the following consideration: Assumption of $468,000 of accounts payable; Payment of $100,000 and $100,000 on July 2014 and July 2015, respectively, on behalf of the Company to Minerales de Tarchi S. de R.L. de C.V. for lease payments under an exploration agreement; 1,660,000 shares of common stock of Silver Pursuit Resources Limited; and $4,000,000 due on or before March 24, 2015. The Company could recover its 50% interest sold should the purchaser not fulfill the terms of the sale. As of December 31, 2014 the Company has not been successful in obtaining the shares we were to receive, accordingly we have recorded an impairment of $96,150 to fully impaire the value of the investment as it is uncertain if the Company will be able to obtain such shares.

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.

Foreign Currency Translation

The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated to United States dollars in accordance with ASC 740, Foreign Currency Translation Matters, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income.

To the extent that the Company incurs transactions that are not denominated in its functional currency, they are undertaken in Mexican Pesos. The Company has not, as of the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

Comprehensive Loss

ASC 220, Comprehensive Income establishes standards for the reporting and display of comprehensive loss and its components in the consolidated financial statements. As at March 31, 2015 and 2014, the Company had no items that represent a comprehensive loss, and therefore has not included a schedule of comprehensive loss in the consolidated financial statements.

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

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.

Asset Retirement Obligations

In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of March 31, 2015 and 2014, the Company has not recorded AROs associated with legal obligations to retire any of the Company’s mineral properties as the settlement dates are not presently determinable.

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.

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.

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.

Recently Issued Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“FASB ASU 2014-09”). This standard update clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards. The standard update intends to provide a more robust framework for addressing revenue issues; improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; and provide more useful information to users of consolidated financial statements through improved disclosure requirements. Upon adoption of this standard update, the Company expects that the allocation and timing of revenue recognition will be impacted. The provisions of FASB ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and are to be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. Early application is not permitted. The Company is currently evaluating the impact that this standard update will have on its consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern. The new standard requires management of public and private companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The standard requires management to evaluate, for each reporting period, whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The new standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of the ASU to have a significant impact on our consolidated financial statements

The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements.

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Related Party Transactions - Notes Payable Related Party (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Feb. 20, 2014
Related Party Transactions - Notes Payable Related Party Details
Reduction in Note Payable - Related Party balance due to purchase by Taurus Gold, Inc from the Company			$ 122,000
Gain on the transaction is recorded as a credit to additional paid-in capital			$ 32,133
Notes payable due to Taurus Gold Inc. totaled	$ 186,792	$ 179,159

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Accounts Payable - Related Parties (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Related party obligation details
Obligation outstanding	$ 83,798	$ 45,966
Incurred rent expense	$ 45,600	$ 45,600

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Schedule of property and equipment (Tables)

12 Months Ended

Mar. 31, 2015

Schedule of property and equipment:

Schedule of property and equipment

	Cost	Accumulated Depreciation	March 31, 2015  Net Book Value	March 31, 2014  Net Book Value
Mining tools and equipment	$     1,887,303	$     769,735	$     1,117,568	$     1,416,627
Watercraft	153,510	83,095	70,415	89,107
Vehicles	141,726	116,860	24,866	61,431
	$     2,182,539	$     969,690	$    1, 212,849	$     1,567,165

Depreciation expense for the years ended March 31, 2015 and 2014 was $330,678 and $356,509, respectively.

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Schedule of mineral properties (Tables)

12 Months Ended

Mar. 31, 2015

Schedule of mineral properties:

Schedule of mineral properties

The following is a continuity of mineral property acquisition costs capitalized on the consolidated balance sheets during the years ended March 31, 2015 and 2014:

	Balance March 31, 2014	Cash Payments	Share-based Payments	Impairment	Balance March 31, 2015
Ures (a)	$              -	$              -	$              -	$              -	$              -
Corborca (b)	505,947	-	-	-	505,947
	$   505,947	$               -	$              -	$              -	$   505,947

	Balance March 31, 2013	Cash Payments	Share-based Payments	Impairment	Balance March 31, 2014
Ures (a)	$              -	$              -	$              -	$              -	$              -
Corborca (b)	490,797	15,150	-	-	505,947
	$  490,797	$     15,150	$               -	$              -	$   505,947

The following is a continuity of exploration costs expensed in the consolidated statements of operation:

	Balance March 31, 2014	Cash Payments	Share-based Payments	Balance March 31, 2015
Ures (a)	$  1,910,649	$              -	$              -	$  1,910,649
Corborca (b)	1,761,742	420,579	149,546	2,331,867
	$  3,672,391	$  420,579	$  149,546	$  4,242,516

	Balance March 31, 2013	Cash Payments	Share-based Payments	Balance March 31, 2014
Ures (a)	$  1,272,010	$   469,779	$  168,860	$  1,910,649
Corborca (b)	1,123,103	469,779	168,860	1,761,742
	$  2,395,113	$   939,558	$  337,720	$  3,672,391

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Contingent Liabilities (Details) - USD ($)	12 Months Ended
	Mar. 31, 2014	Mar. 31, 2015
Contingent Liabilities Details
Estimated costs to be incurred to neutralize those chemicals at the close of the leaching pond		$ 50,000
Cash advanced by an unrelated shareholder and note holder of the Company	$ 516,009
Value of additional notes payable due as claimed by the unrelated shareholder		$ 516,009
Interest rate minimum due	4.00%
Interest rate maximum due	6.00%
Default interest rate		9.00%

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ACCOUNTS PAYABLE TRANSACTIONS (Details) - USD ($)	Jan. 30, 2015	Jan. 14, 2015	Feb. 10, 2014	Jan. 27, 2014	Dec. 11, 2013	Jul. 01, 2013
ACCOUNTS PAYABLE TRANSACTIONS
Company issued shares of common stock to settle accounts payable	162,727	1,176,471	1,333,333	89,762	733,333	223,250
Per share value of common stock issued to settle accounts payable	$ 0.0249	$ 0.0370	$ 0.0644	$ 0.062	$ 0.06	$ 0.1893
Value of shares of common stock to settle accounts payable	$ 4,042	$ 49,529	$ 85,867	$ 5,569	$ 44,000	$ 19,930
Value of accounts payable settled	1,790	20,000	40,000	5,569	0	11,090
Company recorded a loss on settlement of debt	$ 2,252	$ 29,529	$ 45,867	$ 0	$ 8,840	$ 8,840

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Fair value of the warrant derivative liability (Tables)

12 Months Ended

Mar. 31, 2015

Fair value of the warrant derivative liability:

Fair value of the warrant derivative liability

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.

	Years Ended December 31,
	2015	2014
Opening balance	$  282,861	$              -
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 into shares of common stock	(268,663)	(60,995)
Amortization of discount on Note	88,644	248,712
Closing balance	$  102,842	$  282,861

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Warrant derivative liability measurements (Tables)

12 Months Ended

Mar. 31, 2015

Warrant derivative liability measurements:

Warrant derivative liability measurements

The inputs into the binomial model are as follows:

	March 31, 2015	March 31, 2014
Closing share price	$0.0194	$0.08
Conversion price	$0.0110	$0.0225
Risk free rate	0.89%	1.32%
Expected volatility	121%	142%
Dividend yield	0%	0%
Expected life	38 months	50 months

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GOING CONCERN

12 Months Ended

Mar. 31, 2015

GOING CONCERN

GOING CONCERN

2.  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 $16,959,759 at March 31, 2015. 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's convertible promissory note derivative liability (Tables)

12 Months Ended

Mar. 31, 2015

Company's convertible promissory note derivative liability:

Company's convertible promissory note derivative liability

The inputs into the binomial model are as follows:

	March 31, 2015	March 31, 2014
Closing share price	$0.0194	$0.08
Conversion price	$0.011	$0.0225
Risk free rate	0.14%	0.10%
Expected volatility	180%	105%
Dividend yield	0%	0%
Expected life	0.5 years	0.33 years

	March 31, 2015	January 28, 2015
Closing share price	$0.0194	$0..029
Conversion price	$0.019	$0.025
Risk free rate	0.50%	0.50%
Expected volatility	129%	121%
Dividend yield	0%	0%
Expected life	1.83 years	2.0 years

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Ures, Sonora agreement (Details) - May. 25, 2010 - USD ($)	Total
Ures, Sonora agreement
Company agreed to pay a monthly lease payment	$ 5,000
Production royalty of the net smelter returns	3.00%
Company has the option to purchase the mining claims payable in first year	200,000
Company has the option to purchase the mining claims payable in second year	300,000
Company has the option to purchase the mining claims payable in third year	400,000
Company has the option to purchase the mining claims payable in fourth year	2,100,000
Company has the option to purchase the mining claims payable in total	3,000,000

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Convertible Promissory Note Derivative Liabilities - Inputs into the binomial model (Details) - $ / shares	Mar. 31, 2015	Mar. 31, 2014
Convertible Promissory Note Derivative Liabilities - Inputs into the binomial model Details
Closing share price	$ 0.0194	$ 0.08
Conversion price	$ 0.0110	$ 0.0225
Risk free rate	0.14%	0.10%
Expected volatility	180.00%	105.00%
Dividend yield	0.00%	0.00%
Expected life in years	0.5	0.33

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CONSOLIDATED BALANCE SHEETS (Audited) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
CURRENT ASSETS
Cash	$ 2,747	$ 0
Prepaid and other assets	0	81,747
Investment in marketable securities	0	150,114
TOTAL CURRENT ASSETS	2,747	231,861
FIXED ASSETS
Equipment, net of accumulated depreciation	1,212,849	1,567,165
TOTAL FIXED ASSETS	1,212,849	1,567,165
OTHER ASSETS
Deferred finance expense	0	3,503
Equipment under construction	72,939	107,522
Property costs	505,947	505,947
TOTAL OTHER ASSETS	578,886	616,972
TOTAL ASSETS	1,794,482	2,415,998
CURRENT LIABILITIES
Bank overdraft	0	4,053
Accounts payable and accrued liabilities	173,640	75,006
Accounts payable - related party	83,798	45,966
Notes payable (net amortized debt discount of $14,922 and $0, respectively)	391,135	351,502
Note payable - related party	186,792	179,159
Promissory notes	255,000	255,000
Secured convertible promissory note (net of unamortized debt discount $67,361 and $88,644, respectively)	120,536	282,861
Secured convertible promissory note derivative liabilities	167,678	954,410
Warrant derivative liability	407,585	920,927
TOTAL CURRENT LIABILITIES	1,786,164	3,068,884
TOTAL LIABILITIES	1,786,164	3,068,884
SHAREHOLDERS' EQUITY (DEFICIT)
Capital stock Authorized 9,000,000 shares of preferred stock, $0.001 par value per share, nil issued and outstanding	0	0
1,000,000 shares of Series A Convertible Preferred Stock, $0.001 par value per share	0	0
500,000,000 shares of common stock, $0.001 par value per share	0	0
Issued and outstanding
375,000 shares of Series A Convertible Preferred Stock (375,000 - March 31, 2014)	375	375
308,236,718 shares of common stock (248,103,110 - March 31, 2014)	308,237	248,103
Additional paid-in capital	16,100,205	14,104,432
Share subscription payable	559,260	952,143
Accumulated deficit	(16,959,759)	(16,011,903)
Accumulated other comprehensive income	0	53,964
TOTAL SHAREHOLDERS' EQUITY (DEFICIT)	8,318	(652,886)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)	$ 1,794,482	$ 2,415,998

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Notes due to Related parties (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014	Feb. 20, 2014
Notes due to Related parties consists the following
Value of note reduced for purchasing company's property and equipment			$ 122,000
Gain on the transaction is recorded as a credit to additional paid-in capital			$ 32,133
Notes payable due to Taurus Gold Inc. totalled	$ 186,792	$ 179,159

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CONSOLIDATED STATEMENTS OF CASH FLOWS (Audited) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (947,856)	$ (6,993,406)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	330,678	356,509
Loss on sale of equipment	18,230	4,721
Loss on settlement of debt, accounts payable	335,835	189,470
Stock-based compensation	306,408	744,283
Interest expense	505,130	817,698
Impairment of equipment included in exploration costs	0	7,500
Impairment of marketable securities	96,150	0
Allowance for amount due from joint venture	0	247,509
Loss on derivatives	(1,340,807)	1,595,480
Changes in operating assets and liabilities:
Prepaid and other assets	81,747	(157,652)
Accounts payable and accrued liabilities, including related parties	161,025	576,744
NET CASH USED IN OPERTATING ACTIVITIES	(453,460)	(2,611,144)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment	(34)	(40,775)
Purchase of equipment under construction	(975)	(47,647)
Issuance of notes receivable	0	(247,509)
Proceeds from sale of equipment	41,000	7,800
NET CASH USED IN INVESTING ACTIVITES	39,991	(328,131)
CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft	(4,053)	4,053
Proceeds from issuance of notes payable	292,456	495,085
Payments on notes payable	(2,000)	0
Payments on loans payable	0	(50,500)
Proceeds from issuance of convertible promissory notes	0	375,000
Advances from related party	71,118	156,618
Payment on advances from related party	(63,485)	(44,452)
Proceeds from issuance of common stock	122,180	1,653,993
NET CASH PROVIDED BY FINANCING ACTIVITIES	416,216	2,589,797
CASH FLOWS FROM DISCONTINUED OPERATIONS
Allowance for amount due from First Pursuit Silver de Mexico S. de R.L. de C.V.	0	3,627,214
Gain on sale of Mexus Enterprises S.A. de C.V.	0	(3,382,437)
Cash flows used in investing activities	0	0
NET CASH PROVIDED BY (UDED IN) DISCONTINUED OPERATIONS	0	244,777
INECREASE (DECREASE) IN CASH	2,747	(104,701)
CASH, BEGINNING OF PERIOD	0	104,701
CASH, DISCONTINUED OPERATIONS AT THE END OF PERIOD	0	0
CASH, CONTINUED OPERATIONS AT THE END OF PERIOD	2,747	0
Supplemental disclosure of cash flow information:
Interest paid	0	9,436
Taxes paid	0	0
Supplemental disclosure of non-cash investing and financing activities:
Shares issued as interest expense	0	501,075
Shares issued for accounts payable, including related party	0	155,366
Shares issued for notes payable	523,007	0
Shares issued and unissued for equipment purchase	0	112,300
Shares issued for mineral property	0	15,150
Asset given as settlement of debt	0	89,867
Asset given as settlement of share subscription payable	0	(64,585)
Fixed asset reclassified to equipment under construction	0	7,300
Subscription payable settled by related party	$ 0	$ 28,000

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Common Stock Payable Transactions (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Common Stock Payable Transactions
Issued subscriptions payable for shares of common stock for cash	17,919,003	28,776,206
Value per share of subscriptions payable for shares of common stock for cash	$ 0.0114	$ 0.0575
Value of cash	$ 204,881	$ 1,653,993
Issued subscriptions payable for shares of common stock for services	8,088,516	9,829,559
Value per share of subscriptions payable for shares of common stock for services	$ 0.0379	$ 0.0757
Value of services	$ 306,408	$ 744,283
Issued subscriptions payable for shares of common stock for settlement of accounts payable	13,721,680	2,379,678
Value per share of subscriptions payable for shares of common stock for settlement of accounts payable	$ 0.0242	$ 0.653
Value of accounts payable	$ 45,319	$ 155,366
Issued subscriptions payable for shares of common stock for settlement of notes payable	13,721,680	400,000
Value per share of subscriptions payable for shares of common stock for settlement of notes payable	$ 0.0242	$ 0.07
Value of notes payable	$ 331,946	$ 28,000
Issued subscriptions payable for shares of common stock for fee for finance costs	6,453,483
Value per share of subscriptions payable for shares of common stock for fee for finance costs	$ 0.0245
Value of finance costs	$ 157,764
Issued subscriptions payable for shares of common stock for equipment		908,714
Value per share of subscriptions payable for shares of common stock for equipment		$ 0.1181
Value of equipment		$ 107,300
Issued subscriptions payable for shares of common stock for mineral properties		150,000
Value per share of subscriptions payable for shares of common stock for mineral properties		$ 0.101
Value of mineral properties		$ 15,150
Issued subscriptions payable for shares of common stock for fee for Promissory Notes issued on April 18, 2013		2,550,000
Value per share of subscriptions payable for shares of common stockfor fee for Promissory Notes issued on April 18, 2013		$ 0.1965
Value of fee		$ 501,075
Value of fee for Promissory Notes in cash		$ 255,000
Increase in no. of shares after Company cancelled and subsequently amended fourteen subscription payable agreements		719,088

XML

Equipment (Details)	Mar. 31, 2015 USD ($)
Equipment Details
Mining tools and equipment useful life in years	7
Watercrafts useful life in years	7
Vehicles useful life in years	3
Equipment under construction	$ 72,939

XML

Income Taxes Narrative (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Income Taxes Narrative Details
Net operating loss carry-forward	$ 13,610,000	$ 12,583,000

XML

SHAREHOLDERS' EQUITY (DEFICIT)

12 Months Ended

Mar. 31, 2015

SHAREHOLDERS' EQUITY (DEFICIT):

SHAREHOLDERS' EQUITY (DEFICIT)

16.   SHAREHOLDERS’ EQUITY (DEFICIT)

The stockholders’ equity of the Company comprises the following classes of capital stock as of March 31, 2015 and 2014:

Preferred Stock, $.001 par value per share; 9,000,000 shares authorized, 0 shares issued and outstanding at March 31, 2015 and 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 March 31, 2015 and 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: 308,236,718 and 248,103,110 shares issued and outstanding at March 31, 2015 and 2014, respectively. Holders of Common Stock have one vote per share of Common Stock held.

Year Ended March 31, 2015

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.

On July 16, 2014, the Company issued 1,103,370 shares of common stock to satisfy obligations under share subscription agreements for $12,100 in services and $39,503 in cash receipt in prior periods included in share subscriptions payable.

On July 31, 2014, the Company issued 467,144 shares of common stock valued at $19,153 ($0.041 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $7,996 and loss on settlement of debt of $11,157.

On August 20, 2014, the Company issued 1,064,237 shares of common stock valued at $42,569 ($0.040 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $18,009 and loss on settlement of debt of $24,560.

On August 25, 2014, the Company issued 4,800,105 shares of common stock to satisfy obligations under share subscription agreements for $227,505 in settlement of notes payable and $10,001 in cash included in share subscriptions payable.

On September 9, 2014, the Company issued 2,444,235 shares of common stock to satisfy obligations under share subscription agreements for $45,000 in finance expense and $27,000 in services included in share subscriptions payable.

On September 17, 2014, the Company issued 1,268,520 shares of common stock valued at $38,056 ($0.030 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $19,690 and loss on settlement of debt of $18,366.

On September 25, 2014, the Company issued 2,640,000 shares of common stock to satisfy obligations under share subscription agreements for $16,000 in finance expense and $98,500 in services included in share subscriptions payable.

On October 21, 2014, the Company issued 2.466,666 shares of common stock to satisfy obligations under share subscription agreements for $50,000 in finance expense and $18,750 in services included in share subscriptions payable.

On October 30, 2014, the Company issued 783,000 shares of common stock valued at $39,034 ($0.0324 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $17,510 and loss on settlement of debt of $21,524.

On November 26, 2014, the Company issued 1,204,747 shares of common stock to satisfy obligations under share subscription agreements for $15,000 in finance expense and $11,250 in services included in share subscriptions payable.

On December 4, 2014, the Company issued 2,408,146 shares of common stock valued at $96,085 ($0.0399 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $35,000 and loss on settlement of debt of $61,085.

On December 18, 2014, the Company issued 1,288,000 shares of common stock to satisfy obligations under share subscription agreements for $30,912 in services included in share subscriptions payable.

On January 16, 2015 the Company issued 1,881,721 shares of common stock to satisfy obligations under share subscription agreements for $53,946 in services included in share subscriptions payable.

On January 21, 2015 the Company issued 3,843,138 shares of common stock to satisfy obligations under share subscription agreements for $43,529 in settlement of accounts payable, $7,500 in settlement of notes payable, $15,000 in finance costs and $19,000 in cash receipts included in share subscriptions payable.

On January 27, 2015 the Company issued 3,552,726 shares of common stock to satisfy obligations under share subscription agreements for $69,700 in settlement of notes payable and $8,000 in cash included in share subscriptions payable.

On January 28, 2015 the Company issued 244,000 shares of common stock to satisfy obligations under share subscription agreements for $7,800 in services included in share subscriptions payable.

On January 23, 2015, the Company issued 2,752,167 shares of common stock valued at $82,290 ($0.0299 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $37,675 and a loss on settlement of debt of $44,615.

On January 30, 2015 the Company issued 2,293,937 shares of common stock to satisfy obligations under share subscription agreements for $1,500 in small tools and supplies, $11,000 for settlement of notes payable, $11,500 for finance costs and $8,000 in cash receipts included in share subscriptions payable.

On February 16, 2015 the Company issued 3,261,401 shares of common stock to satisfy obligations under share subscription agreements for $1,790 for settlement of accounts payable, $20,000 for finance costs, $41,818 for settlement in account payable, $5,000 for services and $10,500 in cash receipts included in share subscriptions payable.

On March 11, 2015 the Company issued 4,066,363 shares of common stock to satisfy obligations under share subscription agreements for $3,000 for settlement of services, $15,491 for settlement of account payable and $35,000 in cash receipts included in share subscriptions payable.

On March 27, 2015 the Company issued 5,975,371 shares of common stock to satisfy obligations under share subscription agreements for $63,364 for settlement of notes payable, $4,864 for finance costs and $25,981 in cash receipts included in share subscriptions payable.

On March 23, 2015, the Company issued 3,070,782 shares of common stock valued at $76,770 ($0.025 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $40,000 and a loss on settlement of debt of $36,770.

Year Ended March 31, 2014

On May 3, 2013, the Company issued 880,714 shares of common stock to satisfy obligations under share subscription agreements for $119,250 in cash and $18,000 in services included in share subscriptions payable.

On May 21, 2013, the Company issued 823,332 shares of common stock to satisfy obligations under share subscription agreements for $125,250 in cash included in share subscriptions payable.

On May 22, 2013, the Company issued 2,550,000 shares of common stock to satisfy obligations under share subscription agreements for $501,075 in financing fees included in share subscriptions payable.

On June 17, 2013, the Company issued 387,500 shares of common stock to satisfy obligations under share subscription agreements for $27,000 in cash included in share subscriptions payable.

On June 26, 2013, the Company issued 824,509 shares of common stock to satisfy obligations under share subscription agreements for $43,000 in cash and $34,500 in services included in share subscriptions payable.

On July 18, 2013, the Company issued 125,000 shares of common stock to satisfy obligations under share subscription agreements for $10,000 in cash included in share subscriptions payable.

On July 29, 2013, the Company issued 626,571 shares of common stock to satisfy obligations under share subscription agreements for $34,800 in cash and $12,600 in services included in share subscriptions payable.

On July 30, 2013, the Company issued 66,666 shares of common stock to satisfy obligations under share subscription agreements for $6,000 in cash included in share subscriptions payable.

On July 31, 2013, the Company issued 1,014,285 shares of common stock to satisfy obligations under share subscription agreements for $72,052 in cash included in share subscriptions payable.

On August 1, 2013, the Company issued 150,000 shares of common stock to satisfy obligations under share subscription agreements for $15,150 in mineral properties included in share subscriptions payable.

On August 26, 2013, the Company issued 1,582,856 shares of common stock to satisfy obligations under share subscription agreements for $50,500 in cash and $89,700 in services included in share subscriptions payable.

On September 6, 2013, the Company issued 1,049,998 shares of common stock to satisfy obligations under share subscription agreements for $82,500 in cash included in share subscriptions payable.

On September 19, 2013, the Company issued 1,008,000 shares of common stock to satisfy obligations under share subscription agreements for $100,800 in equipment included in share subscriptions payable.

On October 31, 2013, the Company issued 679,404 shares of common stock to satisfy obligations under share subscription agreements for $40,764 in cash included in share subscriptions payable.

On November 1, 2013, the Company issued 2,062,971 shares of common stock to satisfy obligations under share subscription agreements for $128,293 in cash included in share subscriptions payable.

On November 4, 2013, the Company issued 250,000 shares of common stock to satisfy obligations under share subscription agreements for $15,000 in cash included in share subscriptions payable.

On November 13, 2013, the Company issued 865,000 shares of common stock to satisfy obligations under share subscription agreements for $18,500 in cash and $50,000 in services included in share subscriptions payable.

On November 25, 2013, the Company issued 1,062,285 shares of common stock to satisfy obligations under share subscription agreements for $52,235 in cash and $18,000 in services included in share subscriptions payable.

On December 31, 2013, the Company issued 5,564,484 shares of common stock to satisfy obligations under share subscription agreements for $270,984 in cash and $35,000 in services included in share subscriptions payable.

On January 29, 2014, the Company issued 2,965,633 shares of common stock to satisfy obligations under share subscription agreements for $102,965 in cash, $6,640 in services and $44,000 for settlement of accounts payable included in share subscriptions payable.

On February 5, 2014, February 12, 2014 and March 10, 2014, the Company issued a total of 3,368,438 shares of common stock valued at $230,356 ($0.0684 per share) to Typenex Co-Investment, LLC for conversion of principal and interest of $95,592 and loss on settlement of debt of $134,764.

On February 14, 2014, the Company issued 2,208,333 shares of common stock to satisfy obligations under share subscription agreements for $45,000 in cash and $85,867 for settlement of accounts payable included in share subscriptions payable.

On March 13, 2014, the Company issued 5,519,051 shares of common stock to satisfy obligations under share subscription agreements for $54,981 in cash, $293,402 in services and $5,000 for equipment included in share subscriptions payable.

Common Stock Payable

Year Ended March 31, 2015

During the year ended March 31, 2015, the Company issued subscriptions payable for 17,919,003 shares of common stock ($0.0114 per share) for $204,881 in cash.

During the year ended March 31, 2015, the Company issued subscriptions payable for 8,088,516 shares of common stock for services valued at $306,408 ($0.0379 per share).

During the year ended March 31, 2015, the Company issued subscriptions payable for 1,339,198 shares of common stock for settlement of accounts payable valued at $45,319 ($0.0338 per share).

During the year ended March 31, 2015, the Company issued subscriptions payable for 13,721,680 shares of common stock for settlement of notes payable valued at $331,946 ($0.0242 per share).

During the year ended March 31, 2015, the Company issued subscriptions payable for 6,453,483 shares of common stock for a fee valued at $157,764 ($0.0245 per share) for finance costs.

Year Ended March 31, 2014

During the year ended March 31, 2014, the Company issued subscriptions payable for 28,776,206 shares of common stock ($0.0575 per share) for $1,653,993 in cash.

During the year ended March 31, 2014, the Company issued subscriptions payable for 9,829,559 shares of common stock for services valued at $744,283 ($0.0757 per share).

During the year ended March 31, 2014, the Company issued subscriptions payable for 908,714 shares of common stock for equipment valued at $107,300 ($0.1181 per share).

During the year ended March 31, 2014, the Company issued subscriptions payable for 150,000 shares of common stock for mineral properties valued at $15,150 ($0.101 per share).

During the year ended March 31, 2014, the Company issued subscriptions payable for 2,379,678 shares of common stock for settlement of accounts payable valued at $155,366 ($0.653 per share).

During the year ended March 31, 2014, the Company issued subscriptions payable for 400,000 shares of common stock for settlement of notes payable valued at $28,000 ($0.07 per share).

During the year ended March 31, 2014, the Company issued subscriptions payable for 2,550,000 shares of common stock for a fee valued at $501,075 ($0.1965 per share) for Promissory Notes issued on April 18, 2013 for $255,000 in cash.

During the year ended March 31, 2014, the Company cancelled and subsequently amended fourteen subscription payable agreements, increasing the number of shares by 719,088.

XML

Summary of the assets and liabilities of discontinued operations (Details)	Mar. 24, 2014 USD ($)
CURRENT ASSETS
Cash	$ 0
Prepaid and other assets	100,924
TOTAL CURRENT ASSETS	100,924
EQUIPMENT, NET	3,440
OTHER ASSETS
Property costs	742,686
TOTAL OTHER ASSETS	742,686
TOTAL ASSETS	847,050
CURRENT LIABILITIES
Accounts payable and accrued liabilities	5,542
Notes payable	30,583
Notes payable - related party	1,999
TOTAL CURRENT LIABILITIES	38,124
CARRYING VALUE OF MEXUS ENTERPRISES S.A. DE C.V.	$ 808,926

XML

INCOME TAXES

12 Months Ended

Mar. 31, 2015

INCOME TAXES

INCOME TAXES

18.   INCOME TAXES

The following table presents income before taxes and income tax expense as well as the taxes charged to stockholders equity:

	Year Ended March 31, 2015	Year Ended March 31, 2014
Net loss before taxes	$        (947,856)	$     (6,993,406)
Income tax expense charged to loss before taxes	$                      -	$                      -

A reconciliation of the expected consolidated income tax expense, computed by applying a 35% U.S. Federal corporate income tax rate to income before taxes to income tax expense is as follows:

	Year Ended March 31, 2015	Year Ended March 31, 2014
Expected tax expense (recovery)	$       (332,000)	$       (2,448,000)
Share-based payments	107,000	260,000
Loss on sale of equipment	6,000	2,000
Gain on settlement of debt	118,000	50,000
Impairment of marketable securities	34,000	-
Impairment of equipment	-	3,000
Interest	177,000	286,000
Gain (loss) on derivatives	(469,000)	558,000
Allowance	-	(1,184,000)
Change in valuation allowance	359,000	2,473,000
	$                       -	$                       -

At March 31, 2015 and 2014, the Company had available a net-operating loss carry-forward for Federal tax purposes of approximately $13,610,000 and $12,583,000, respectively, which may be applied against future taxable income, if any, at various times through 2033. Certain significant changes in ownership of the Company may restrict the future utilization of these tax loss carry-forwards.

The Company recognizes interest and penalties, if any, related to uncertain tax positions in general and administrative expenses.  No interest and penalties related to uncertain tax positions were accrued at March 31, 2015 and 2014.

The tax years 2015, 2014, 2013, 2012, 2011 and 2010 remain open to examination by the major taxing jurisdictions in which the Company operates.  The Company expects no material changes to unrecognized tax positions within the next twelve months.

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Subsequent Events - Notes Payable (Details) - USD ($)	Jun. 11, 2015	Apr. 06, 2015
Subsequent Events - Notes Payable Details
Original principal amount	$ 110,000	$ 110,000
Annual interest rate	12.00%	12.00%
Consideration paid in cash	$ 100,000	$ 100,000
Original issue discount value	$ 10,000	$ 10,000
Variable conversion price of	$ 0.018	$ 0.019
Company received cash in the first tranche	$ 25,000	$ 25,000
Net of original issue discount	$ 2,500	$ 2,500

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ORGANIZATION AND BUSINESS OF COMPANY

12 Months Ended

Mar. 31, 2015

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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CONSOLIDATED BALANCE SHEETS PARENTHETICALS (Audited) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Parentheticals
Net amortized debt discount on Notes Payable	$ 14,922	$ 0
Unamortized Debt Discount on Secured Convertible Promissory Note	$ 67,361	$ 88,644
Preferred Stock, Shares Par or Stated Value	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	9,000,000	9,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Series A Convertible Preferred Stock, Shares Par or Stated 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, Shares Par or Stated Value	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares Issued	308,236,718	248,103,110
Common Stock, Shares Outstanding	308,236,718	248,103,110

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PROMISSORY NOTES

12 Months Ended

Mar. 31, 2015

PROMISSORY NOTES:

PROMISSORY NOTES

11.   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 December 31, 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. At March 31, 2015 and 2014, deferred finance expense of $0 and $3,503, respectively related to these promissory notes were recorded on the consolidated balance sheet.

As of March 31, 2015, 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 $30,133 is included in accounts payable and accrued liabilities.

XML

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2015	Jun. 30, 2015	Sep. 30, 2014
Document and Entity Information:
Entity Registrant Name	Mexus Gold US
Entity Trading Symbol	MXSG
Document Type	10-K
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Entity Central Index Key	0001355677
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding		332,974,887
Entity Public Float			$ 9,285,498
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	FY

XML

SECURED CONVERTIBLE PROMISSORY NOTES

12 Months Ended

Mar. 31, 2015

SECURED CONVERTIBLE PROMISSORY NOTES:

SECURED CONVERTIBLE PROMISSORY NOTES

12.   SECURED CONVERTIBLE PROMISSORY NOTES

Typenex Co-Investment, LLC

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.

	Years Ended December 31,
	2015	2014
Opening balance	$  282,861	$              -
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 into shares of common stock	(268,663)	(60,995)
Amortization of discount on Note	88,644	248,712
Closing balance	$  102,842	$  282,861

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%.

JMJ Financial

On January 28, 2015, the Company issued a Convertible Promissory Note (“Note”) to JMJ Financial (“Holder”), in the original principal amount of $110,000 bearing a 12% annual interest rate and maturing in two years for $100,000 of consideration paid in cash and a $10,000 original issue discount. The Company may repay the Note any time and if repaid within 90 days of date of issue with an interest rate is 0%. This Note together with any unpaid accrued interest is convertible into shares of common stock at the Holder’s option at a variable conversion price calculated as lessor of (a) $0.029 or (b) 60% of the lowest trade occurring during the 25 consecutive trading days immediately preceding the conversion date. On January 28, 2015, the Company received cash of $50,000 in the first tranche, which was net of original issue discount of $5,000. At March 31, 2015, the first tranche of the Note is recorded at a fully accreted value of $85,056 less unamortized debt discount of $67,361.

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Audited) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
REVENUES
Revenues	$ 2,743	$ 192,004
Total revenues	2,743	192,004
Expenses
General and administrative	717,894	545,377
Exploration costs	420,579	939,558
Stock-based expense - consulting services	306,408	744,283
Impairment of marketable securities	96,150	0
Loss on sale of equipment	18,230	4,721
Loss on settlement of debt	335,835	189,470
Total operating expenses	1,895,096	2,423,409
OTHER INCOME (EXPENSE)
Other income	124,188	0
Interest expense	(516,181)	(833,729)
Foreign exchange loss	(4,317)	(81,609)
Gain (loss) on derivative liabilities	1,340,807	(1,595,480)
Operating income loss	944,497	(2,510,818)
NET LOSS FROM CONTINUING OPERATIONS	(947,856)	(4,742,223)
NET LOSS FROM DISCONTINUED OPERATIONS (including loss on disposal of $244,776)	0	(2,251,183)
NET LOSS	(947,856)	(6,993,406)
NET INCOME (LOSS) ATTRIBUTABLE TO NON-CONTROLLING INTEREST	0	476,870
NET LOSS ATTRIBUTABLE TO MEXUS GOLD US	(947,856)	(7,470,276)
OTHER COMPREHENSIVE INCOME
Unrealized gain on marketable securities	(53,964)	53,964
Total other comprehensive income	(53,964)	53,964
COMPREHENSIVE LOSS	$ (1,001,820)	$ (7,416,312)
BASIC LOSS PER SHARE FROM CONTINUING OPERATIONS	$ 0.00	$ (0.02)
BASIC LOSS PER SHARE FROM DISCONTINUING OPERATIONS	0.00	(0.01)
BASIC LOSS PER COMMON SHARE	$ 0.00	$ (0.03)
WEIGHTED AVERAGE NUMBER OFCOMMON SHARES OUTSTANDING- BASIC	268,875,867	225,291,804

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EQUIPMENT

12 Months Ended

Mar. 31, 2015

EQUIPMENT

EQUIPMENT

6. EQUIPMENT

	Cost	Accumulated Depreciation	March 31, 2015  Net Book Value	March 31, 2014  Net Book Value
Mining tools and equipment	$     1,887,303	$     769,735	$     1,117,568	$     1,416,627
Watercraft	153,510	83,095	70,415	89,107
Vehicles	141,726	116,860	24,866	61,431
	$     2,182,539	$     969,690	$    1, 212,849	$     1,567,165

Depreciation expense for the years ended March 31, 2015 and 2014 was $330,678 and $356,509, respectively.

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MINERAL PROPERTIES AND EXPLORATION COSTS

12 Months Ended

Mar. 31, 2015

MINERAL PROPERTIES AND EXPLORATION COSTS

MINERAL PROPERTIES AND EXPLORATION COSTS

5. MINERAL PROPERTIES AND EXPLORATION COSTS

The following is a continuity of mineral property acquisition costs capitalized on the consolidated balance sheets during the years ended March 31, 2015 and 2014:

	Balance March 31, 2014	Cash Payments	Share-based Payments	Impairment	Balance March 31, 2015
Ures (a)	$              -	$              -	$              -	$              -	$              -
Corborca (b)	505,947	-	-	-	505,947
	$   505,947	$               -	$              -	$              -	$   505,947

	Balance March 31, 2013	Cash Payments	Share-based Payments	Impairment	Balance March 31, 2014
Ures (a)	$              -	$              -	$              -	$              -	$              -
Corborca (b)	490,797	15,150	-	-	505,947
	$  490,797	$     15,150	$               -	$              -	$   505,947

The following is a continuity of exploration costs expensed in the consolidated statements of operation:

	Balance March 31, 2014	Cash Payments	Share-based Payments	Balance March 31, 2015
Ures (a)	$  1,910,649	$              -	$              -	$  1,910,649
Corborca (b)	1,761,742	420,579	149,546	2,331,867
	$  3,672,391	$  420,579	$  149,546	$  4,242,516

	Balance March 31, 2013	Cash Payments	Share-based Payments	Balance March 31, 2014
Ures (a)	$  1,272,010	$   469,779	$  168,860	$  1,910,649
Corborca (b)	1,123,103	469,779	168,860	1,761,742
	$  2,395,113	$   939,558	$  337,720	$  3,672,391

(a) Ure, Sonora, Mexico

On May 25, 2010, the Company entered into a Mineral Exploration and Mining Lease with Option to Purchase with the owner of four mining claims (i) Ocho Hermanos (ii) 370 Area (iii) El Scorpion (iv) Los Laureles located at Ures, Sonora, Mexico.  For an initial exploration and drilling term up to June 30, 2011, the Company agreed to pay a monthly lease payment of $5,000 and a production royalty of 3% of the net smelter returns.  The Company has the option to purchase the mining claims payable, year 1 - $200,000, year 2 - $300,000, year 3 - $400,000 and year 4 - $2,100,000 for a total of $3,000,000. These property rights are owned by Mexus Gold S.A. de C.V. The properties were fully impaired at March 31, 2013 as the reserves were deemed not to be sufficient to warrant further work.

(b) Corborca, Sonora, Mexico

January 5, 2011, the Company entered into a Mineral Exploration, Exploitation and Mining Concession Purchase Agreement for two mining properties (i) Julio II (ii) Martha Elena located in the municipality of Caborca, Sonora, Mexico.  The purchase price of these rights are (a) $50,000 cash (b) 1,000,000 shares of common stock of Mexus Gold US (c) $2,000,000 paid at a rate of 40% net smelter royalty. The term of the agreement can be terminated at the option of the Company. These property rights are owned by Mexus Gold Mining S.A. de C.V.

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RELATED PARTY TRANSACTIONS

12 Months Ended

Mar. 31, 2015

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

17.   RELATED PARTY TRANSACTIONS

During the years ended March 31, 2015 and 2014, the Company entered into the following transactions with related parties:

Paul D. Thompson, sole director and officer of the Company

Taurus Gold, Inc., controlled by Paul D. Thompson

Rent expense – Note 7

Notes Payable – Note 9

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WARRANT DERIVATIVE LIABILITY

12 Months Ended

Mar. 31, 2015

WARRANT DERIVATIVE LIABILITY:

WARRANT DERIVATIVE LIABILITY

13.    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 March 31, 2015 and 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 $0.011 per share and the conversion price has been adjusted accordingly.

The inputs into the binomial model are as follows:

	March 31, 2015	March 31, 2014
Closing share price	$0.0194	$0.08
Conversion price	$0.0110	$0.0225
Risk free rate	0.89%	1.32%
Expected volatility	121%	142%
Dividend yield	0%	0%
Expected life	38 months	50 months

The fair value of the warrant derivative liability is $407,585 at March 31, 2015. The increase (decrease) in the fair value of the conversion option derivative liability of $(513,342) and $716,288 has been recorded as a (gain) loss in the consolidated statements of operations for the years ended March 31, 2015 and 2014, respectively.

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NOTES PAYABLE - RELATED PARTY

12 Months Ended

Mar. 31, 2015

NOTES PAYABLE - RELATED PARTY:

NOTES PAYABLE - RELATED PARTY

9. 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.  On February 20, 2014, Taurus Gold, Inc. purchased from the Company a crane, forklift, magnetometer, boat and outboard engine for a $122,000 reduction in the Note Payable – Related Party balance. The $32,133 gain on the transaction is recorded as a credit to additional paid-in capital.  As of March 31, 2015 and March 31, 2014, notes payable due to Taurus Gold Inc. totaled $186,792 and $179,159, respectively.

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Related Party Transactions - Rent expense (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Related Party Transactions - Rent expense Details
Rent expense obligation outstanding as of	$ 83,798	$ 45,966

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ACCOUNTS PAYABLE - RELATED PARTIES

12 Months Ended

Mar. 31, 2015

ACCOUNTS PAYABLE - RELATED PARTIES:

ACCOUNTS PAYABLE - RELATED PARTIES

7. ACCOUNTS PAYABLE - RELATED PARTIES

During the year ended March 31, 2015 and 2014, the Company incurred rent expense to Paul D. Thompson, the sole director and officer of the Company, of $45,600 and $45,600, respectively.  At March 31, 2015 and 2014, $83,798 and $45,966 for this obligation is outstanding, respectively.

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ACCOUNTS PAYABLE

12 Months Ended

Mar. 31, 2015

ACCOUNTS PAYABLE

ACCOUNTS PAYABLE

8.  ACCOUNTS PAYABLE

On July 1, 2013, the Company issued 223,250 shares of common stock valued at $19,930 ($0.1893 per share) to settle $11,090 due to unrelated party. As a result, the Company recorded a loss on settlement of debt of $8,840.

On December 11, 2013, the Company issued 733,333 shares of common stock valued at $44,000 ($0.06 per share) a result, the Company recorded a loss on settlement of debt of $8,840.

On January 27, 2014, the Company issued 89,762 shares of common stock valued at $5,569 ($0.062 per share) to settle $5,569 due to unrelated party.

On February 10, 2014, the Company issued 1,333,333 shares of common stock valued at $85,867 ($0.0644 per share) to settle $40,000 due to unrelated party. As a result, the Company recorded a loss on settlement of debt of $45,867.

On January 14, 2015, the Company issued 1,176,471 shares of common stock valued at $49,529 ($0.0370 per share) to settle $20,000 due to unrelated party. As a result, the Company recorded a loss on settlement of debt of $29,529.

On January 30, 2015, the Company issued 162,727 shares of common stock valued at $4,042 ($0.0249 per share) to settle $1,790 due to unrelated party. As a result, the Company recorded a loss on settlement of debt of $2,252.

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NOTES PAYABLE

12 Months Ended

Mar. 31, 2015

NOTES PAYABLE:

NOTES PAYABLE

10. NOTES PAYABLE

On January 8, 2013, the Company entered into an unsecured promissory note agreement with William H. Brinker in the amount of $185,000.  The note is due on demand upon the occurrence of certain events and at the discretion of the note holder. A finance charge of $5,000 is due on or before March 31, 2013. The note is secured by 5,000,000 shares of common stock of Mexus Gold US pledged by the Company and certain mining equipment including a radial stacker and cone crushing plant.  On April 1, 2013, the Company repaid $50,000 in principal and $140,000 remains outstanding at March 31, 2015 ($140,000 – March 31, 2014). See Note 15 Contingent Liability for further information.

On February 4, 2014, the Company received a cash advance of $30,000 for a note payable with a face value of $36,000 with no specific terms of repayment secured by a mobile crusher unit. At March 31, 2015 and 2014, the balance of this note is $30,000 and $30,000, respectively. At March 31, 2015 and 2014, accrued interest of $6,000 and $0 on this note have been included in accounts payable and accrued liabilities, respectively.

During the year ended March 31, 2014, the Company received cash advances of $15,000 and repaid $500 from an unrelated shareholder of the Company. These advances bear interest of 10%, are unsecured and are due within 60 days. At March 31, 2015 and 2014, the balance of these advances totaled $14,500 and $14,500, respectively. At March 31, 2015 and 2014, accrued interest of $2,132 and $0 on this note have been included in accounts payable and accrued liabilities, respectively. At March 31, 2015, these notes were in default. There are no default provisions stated in the notes.

During the year ended March 31, 2014, the Company received cash advances of $209,502 from three unrelated shareholders of the Company. These advances are non-interest bearing, unsecured and have no specific terms of repayment. On August 19, 2014, the Company issued 1,700,020 shares of common stock valued at $70,000 ($0.04 per share) to settle $87,501 in advances. As a result, the Company recorded a gain on settlement of debt of $17,501. On February 28, 2015, the Company issued 2,272,727 shares of common stock valued at $48,636 ($0.0214 per share) to settle $25,000 in advances. As a result, the Company recorded a loss on settlement of debt of $23,636.  At March 31, 2015 and 2014, the balance of these advances totaled $52,001 and $164,502, respectively.

During the year ended March 31, 2015, the Company received various cash advances totaling $286,757 from twenty-two investors. These advances are unsecured and are due within 30 to 90 days of issue. Upon receipt of the cash advance, the Company paid each of the investors the value of their investment in shares of common stock of the Company as a finance fee. The investor has the option to be repaid within 90 days by one of the following: (i) In cash (ii) One-half in cash and one—half in shares converted into common stock of the Company or (iii) The entire amount of the investment converted into shares of common stock of the Company. The conversion prices range from $0.011 per share to $0.040 per share.  At March 31, 2015 and March 31, 2014, debt discount of $14,922 and $0, respectively has been recorded on the consolidated balance sheet related to these cash advances. At December 31, 2014, $71,500 of these notes were in default. There are no default provisions stated in the notes. Of the $286,757 received, $30,000 plus interest of $5,000 is required to be repaid upon the sale of specified equipment.

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 March 31, 2015 and 2014, the balances on this note totalled $2,500 and $2,500, respectively.  At March 31, 2015 and 2014, accrued interest of $3,540 and $3,185 on this note have been included in accounts payable and accrued liabilities, respectively

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Reconciliation of the expected consolidated income tax expense (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Reconciliation of the expected consolidated income tax expense Details
Expected tax expense (recovery)	$ (332,000)	$ (2,448,000)
Share-based payments	107,000	260,000
Loss on sale of equipment	6,000	2,000
Gain on settlement of debt	118,000	50,000
Impairment of marketable securities	34,000	0
Impairment of equipment	0	3,000
Interest	177,000	286,000
Gain (loss) on derivatives	(469,000)	558,000
Allowance	0	(1,184,000)
Change in valuation allowance	359,000	2,473,000
Expected consolidated income tax expense	$ 0	$ 0

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Subsequent Events - Common Stock (Details) - USD ($)	Jun. 23, 2015	Jun. 10, 2015	May. 13, 2015	May. 01, 2015	Apr. 21, 2015	Apr. 18, 2015	Apr. 14, 2015
Subsequent Events - Common Stock Details
Issued shares of common stock to satisfy obligations under share subscription agreements	1,800,000	6,455,863	3,176,134		4,745,452		1,840,908
Value of notes payable and accounts payable settled under share subscription agreements		$ 104,000	$ 22,500		$ 21,318		$ 21,318
Value of services included in share subscriptions payable	$ 20,000	9,534			12,000		$ 7,500
Cash receipts included in share subscriptions payable	$ 20,000	$ 22,500	9,000		$ 18,800
Value of equipment in share subscriptions payable			$ 10,000
Total of shares issued to Typenex Co-Investment, LLC				6,719,815		6,719,815
Total of shares issued to Typenex Co-Investment, LLC, value				$ 126,886		$ 126,886
Total of shares issued to Typenex Co-Investment, LLC, per share				$ 0.0189		$ 0.0189
Total of shares issued to Typenex Co-Investment, LLC for conversion of principal and interest				75,000		75,000
Loss on settlement debt of				$ 51,886		$ 51,886

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Income Taxes (Details) - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income before taxes and income tax expense Details
Net loss before taxes	$ (947,856)	$ (6,993,406)
Income tax expense charged to loss before taxes	$ 0	$ 0

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GOING CONCERNS (Details)	Mar. 31, 2015 USD ($)
GOING CONCERNS detail
Accumulated deficit	$ 16,959,759

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Warrant derivative liability measured at fair value (Details) - USD ($)	Mar. 31, 2015	Mar. 31, 2014
Warrant derivative liability measured at fair value
Closing share price	$ 0.0194	$ 0.08
Conversion price	$ 0.0110	$ 0.0225
Risk free rate	0.89%	1.32%
Expected volatility	121.00%	142.00%
Dividend yield	0.00%	0.00%
Expected life in months	38	50
Fair value of the warrant derivative liability at	$ 407,585

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CONTINGENT LIABILITIES

12 Months Ended

Mar. 31, 2015

CONTINGENT LIABILITIES

CONTINGENT LIABILITIES

15.   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 March 31, 2015, 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.

During the year ended March 31, 2014, an unrelated shareholder and note holder of the Company advanced $516,009 of cash to the Company. These cash advances were classified as share subscriptions payable by the Company upon receipt based on fully executed share subscription agreements. At March 31, 2015, the unrelated shareholder, in addition to the shares that were due under the share subscription agreement, is claiming an additional $516,009 notes payable are due.  The unrelated shareholder asserts that these notes bear interest from 4% to 6%, went into default on April 1, 2014 and have default interest of 9%.  The Company believes the claim for additional notes payable due of $516,009 plus accrued interest is unlikely to succeed because the Company did not execute notes payable agreements for $516,009 with the unrelated shareholder. As such, no additional liability for this claim has been recorded in these financial statements at March 31, 2015.

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ACCOUNTING POLICIES (POLICIES)

12 Months Ended

Mar. 31, 2015

ACCOUNTING POLICIES (POLICIES):

Basis of Consolidation

Basis of Consolidation

The consolidated financial statements include the accounts of the Company and controlled subsidiaries, Mexus Gold Mining, S.A. de C.V. (“Mexus Gold Mining) and the Joint Venture between Mexus Gold US, Mexus Gold Mining, Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. The portion of less than wholly-owned subsidiaries is included as non-controlling interest.  Significant intercompany accounts and transactions have been eliminated.

On October 20, 2009, the Company entered into a 180 day option agreement with Mexus Gold Mining, pursuant to which the Company acquired the right to acquire 99% of the capital stock of Mexus Gold Mining, S.A. The option price is 20 million restricted shares of the Company’s common stock and the exercise price is 20 million restricted shares of the Company’s common stock. The agreement is conditioned upon Mexus Gold Mining, obtaining an audit of its financial records by public accountants acceptable to the standards required for financial reporting purposes in the United States of America. The term of the option may be extended by the Company for such reasonable time as is required by Mexus Gold Mining, to complete its audit.  On November 16, 2010, the Company purchased the option by issuing 20 million of its restricted shares and on February 11, 2010 the Company exercised the option by issuing 20 million its restricted shares thereby acquiring 99% of the capital stock of Mexus Gold Mining   The shareholder of Mexus Gold Mining, prior to its acquisition, was Paul Thompson Sr., the sole officer and director of Mexus Gold US.  As such, the acquisition is accounted for as a common control transaction under Accounting Standards Code ("ASC") 805-50. No new basis of accounting was established upon acquisition and the Company carried forward the carrying amounts of assets and liabilities that were contributed.

On November 1, 2012, Mexus Gold US and Mexus Gold Mining entered into a Joint Venture Agreement, for a term of fifty years, with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. (“Participants”). The assets, liabilities and operations of the Joint Venture are held by Mexus Enterprises S.A. de C.V., a 100% owned subsidiary of Mexus Gold US. The Participants agreed to contribute to the Joint Venture certain mining concessions located in the Municipality of Caborca, Sonora, Mexico. In exchange for the mining concessions described above, the Company agreed to provide $1,500,000 in operating advances to the Joint Venture within 30 days of the execution date of the Joint Venture Agreement and issue 1,000,000 shares of Mexus Gold US common stock which were valued at $400,000 ($0.40 per share) to the legal representative of Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. The Company has accounted for the acquisition of and the Participant’s interest in the mining concession as an asset acquisition. The Joint Venture is consolidated as the Company appoints two of three members of the Administrating Committee of the Joint Venture, serves as the operator of the Joint Venture and receives 60% ownership of net revenue from the mining concessions presently under production and extraction operations. The Company under the Joint Venture Agreement allocates 40% of its net income (loss) to non-controlling interest in the consolidated financial statements.

Once the Joint Venture has repaid all debts and provides sufficient net profits in the opinion of the Company, as operator, the interest will revert to 51%. At this point, 49% of its net income (loss) will be allocated to non-controlling interest. On June 30, 2013, the Joint Venture Agreement was terminated by the Company.

On July 1, 2013, Mexus Gold US sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to Atzek Mineral S.A. de C.V. for a total price of $1,931 (25,000 Mexican Pesos). The 50 shares sold represent 50% of the fixed capital stock of Mexus Enterprises S.A. de C.V. As a result, the Company holds 50% of the fixed capital stock of Mexus Enterprises S.A. de C.V. On July 1, 2013, the Company determined that it was the primary beneficiary of Mexus Enterprises S.A. de C.V. as the Company’s interest in the Mexus Enterprises S.A. de C.V. is subject to variability based on results from operations and changes in the fair value. Mexus Gold US continues to be the operator of the Project and Mexus Gold US is responsible to absorb any losses of Mexus Enterprises S.A. de C.V. as Mexus Gold US has provided significantly all of the financing of Mexus Enterprises S.A. de C.V. through inter-company advances. As Mexus Gold US continues to control Mexus Enterprises S.A. de C.V., the change in the non-controlling interest from 40% to 50% in the assets, liabilities and operations of Mexus Enterprises S.A. de C.V. is treated as a capital transaction.

On March 24, 2014, the Company resigned as the operator of the Project and sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to First Pursuit Silver de Mexico S. de R.L. de C.V. The 50 shares sold represent 50% of the fixed capital stock of Mexus Enterprises S.A. de C.V. As a result, the Company holds 0% of the fixed capital stock and its investment in Mexus Enterprises S.A. de C.V. was deconsolidated. The results of operations for Mexus Enterprises S.A. de C.V. have been included in the consolidated financial statements of the Company up to March 24, 2014. The assets and liabilities and operating results of Mexus Enterprises S.A. de C.V. have been retroactively reclassified in the consolidated financial statements as discontinued operations for all periods presented. Unless otherwise indicated, all disclosures and amounts in the Notes to the consolidated financial statements relate the Company’s continuing operations. The reclassification has no effect on reported net loss. See Note 4 Discontinued Operations.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates. Management believes that the estimates used are reasonable.

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.

Investment, Policy

Investments

Notes receivable and investment in marketable securities are classified as available-for-sale. Available-for-sale securities are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a component of other comprehensive income/(loss).  Realized gains and losses and charges for other-than-temporary impairments are included in determining net income, with related purchase costs based on the first-in, first-out method.  For impairments that are other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s cost and its fair value at the balance sheet date of the reporting period for which the assessment is made.  The fair value of the investment then becomes the new amortized cost basis of the investment and it is not adjusted for subsequent recoveries in fair value.

Equipment Under Construction

Equipment under Construction

Equipment under construction comprises mining equipment that is currently being fabricated and modified by the Company and is not presently in use. Equipment under construction totaled $72,939 and $107,522 as of March 31, 2015 and 2014 respectively.  Equipment under construction at March 31, 2015 comprises Cone 1709, Equipment Fabrication Materials, Hydraulic Drum 12YD, Skid Mounted Mill and Survey Winch Marine.

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.

Long-Lived Assets

Long-Lived Assets

In accordance with ASC 360, Property Plant and Equipment the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life. Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.

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.

On March 24, 2014, the Company resigned as the operator of the Joint Venture with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. and sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to First Pursuit Silver de Mexico S. de R.L. de C.V. for the following consideration: Assumption of $468,000 of accounts payable; Payment of $100,000 and $100,000 on July 2014 and July 2015, respectively, on behalf of the Company to Minerales de Tarchi S. de R.L. de C.V. for lease payments under an exploration agreement; 1,660,000 shares of common stock of Silver Pursuit Resources Limited; and $4,000,000 due on or before March 24, 2015. The Company could recover its 50% interest sold should the purchaser not fulfill the terms of the sale. As of December 31, 2014 the Company has not been successful in obtaining the shares we were to receive, accordingly we have recorded an impairment of $96,150 to fully impaire the value of the investment as it is uncertain if the Company will be able to obtain such shares.

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.

Foreign Currency Translation

Foreign Currency Translation

The Company’s functional and reporting currency is the United States dollar. Monetary assets and liabilities denominated in foreign currencies are translated to United States dollars in accordance with ASC 740, Foreign Currency Translation Matters, using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income.

To the extent that the Company incurs transactions that are not denominated in its functional currency, they are undertaken in Mexican Pesos. The Company has not, as of the date of these financial statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.

Comprehensive Loss Policy

Comprehensive Loss

ASC 220, Comprehensive Income establishes standards for the reporting and display of comprehensive loss and its components in the consolidated financial statements. As at March 31, 2015 and 2014, the Company had no items that represent a comprehensive loss, and therefore has not included a schedule of comprehensive loss in the consolidated financial statements.

Income Taxes Policy

Income Taxes

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes. The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

Asset Retirement Obligations

Asset Retirement Obligations

In accordance with accounting standards for asset retirement obligations (ASC 410), the Company records the fair value of a liability for an asset retirement obligation (ARO) when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The associated asset retirement costs are supposed to be capitalized as part of the carrying amount of the related mineral properties. As of March 31, 2015 and 2014, the Company has not recorded AROs associated with legal obligations to retire any of the Company’s mineral properties as the settlement dates are not presently determinable.

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.

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.

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.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“FASB ASU 2014-09”). This standard update clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards. The standard update intends to provide a more robust framework for addressing revenue issues; improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; and provide more useful information to users of consolidated financial statements through improved disclosure requirements. Upon adoption of this standard update, the Company expects that the allocation and timing of revenue recognition will be impacted. The provisions of FASB ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and are to be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. Early application is not permitted. The Company is currently evaluating the impact that this standard update will have on its consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements - Going Concern. The new standard requires management of public and private companies to evaluate whether there is substantial doubt about the entity’s ability to continue as a going concern and, if so, disclose that fact. Management will also be required to evaluate and disclose whether its plans alleviate that doubt. The standard requires management to evaluate, for each reporting period, whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The new standard is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of the ASU to have a significant impact on our consolidated financial statements

The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements.

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Secured Convertible Promissory Notes - JMJ Financial (Details) - USD ($)	Mar. 31, 2015	Jan. 28, 2015
JMJ Financial Details
Original principal amount of Convertible Promissory Note issued		$ 110,000
Bears annual interest rate		12.00%
Amount of consideration paid in cash		$ 100,000
Amount of original issue discount		10,000
Company received cash in the first tranche		50,000
Net of original issue discount of		$ 5,000
Fully accreted value of first tranche	$ 85,056
Unamortized debt discount of	$ 67,361

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Corborca, Sonora agreement (Details)	Jan. 05, 2011 USD ($)
Corborca, Sonora agreement
Purchase price of the rights paid in cash	$ 50,000
Purchase price of the rights paid in shares of common stock of Mexus Gold US	1,000,000
Purchase price of the rights paid in paid at a rate of 40% net smelter royalty	$ 2,000,000

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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (Audited) - USD ($)	Preferred Stock Number of Shares	Preferred Stock Amount	Series A Preferred Stock Number of Shares	Series A Preferred Stock Amount	Common Stock Number of Shares	Common Stock Amount	Additional Paid-In Capital	Shares Subscription Payable	Accumulated Deficit	Non-controlling interest	Accumulated other comprehensive income	Total Shareholders' Equity (Deficit)
Balance at Mar. 31, 2013	0	0	375,000	375	212,468,077	212,468	11,266,771	417,369	(8,541,627)	(476,870)	0	2,878,486
Shares issued for services and supplies	0	0	0	0	6,961,199	6,961	553,933	183,389	0	0	0	744,283
Shares issued for equipment	0	0	0	0	1,079,428	1,079	104,721	(58,085)	0	0	0	47,715
Shares issued for cash	0	0	0	0	19,459,302	19,459	1,278,563	355,971	0	0	0	1,653,993
Shares issued for mineral properties	0	0	0	0	150,000	150	15,000	0	0	0	0	15,150
Shares issued for accounts payable	0	0	0	0	2,066,666	2,067	127,800	53,499	0	0	0	183,366
Shares issued for convertible note principal and interest	0	0	0	0	3,368,438	3,369	226,987	0	0	0	0	230,356
Shares issued for finance costs	0	0	0	0	2,550,000	2,550	498,525	0	0	0	0	501,075
Gain on sale of equipment to Taurus Gold Inc. - related party		$ 0		$ 0		$ 0	$ 32,132	$ 0	$ 0	$ 0	$ 0	$ 32,132
Accumulated other comprehensive income		0		0		0	0	0	0	0	53,964	53,964
Net loss		$ 0		$ 0		$ 0	$ 0	$ 0	$ (7,470,276)	$ 476,870	$ 0	$ (6,993,406)
Balance at Mar. 31, 2014	0	0	375,000	375	248,103,110	248,103	14,104,432	952,143	(16,011,903)	0	53,964	(652,886)
Accumulated other comprehensive income at Mar. 31, 2014		$ 0		$ 0		$ 0	$ 0	$ 0	$ 0	$ 0	$ 53,964	$ 53,964
Shares issued for services and supplies	0	0	0	0	9,714,349	9,715	428,399	(133,242)	0	0	0	304,872
Shares issued for equipment	0	0	0	0	169,167	169	15,185	(15,354)	0	0	0	0
Shares issued for cash	0	0	0	0	12,609,711	12,610	301,467	(153,286)	0	0	0	160,791
Shares issued for accounts payable	0	0	0	0	1,463,248	1,463	51,553	(5,570)	0	0	0	47,446
Shares issued for convertible note principal and interest	0	0	0	0	35,449,860	35,450	1,073,796	(90,431)	0	0	0	1,018,815
Shares issued for finance costs	0	0	0	0	727,273	727	16,773	5,000	0	0	0	22,500
Benefical conversion feature		$ 0		$ 0		$ 0	$ 108,600	$ 0	$ 0	$ 0	$ 0	$ 108,600
Accumulated other comprehensive income		0		0		0		0	0	0	(53,964)	(53,964)
Net loss		$ 0		$ 0		$ 0	$ 0	$ 0	$ (947,856)	$ 0	$ 0	$ (947,856)
Balance at Mar. 31, 2015	0	0	375,000	375	308,236,718	308,237	16,100,205	559,260	(16,959,759)	0	0	8,318

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DISCONTINUED OPERATIONS

12 Months Ended

Mar. 31, 2015

DISCONTINUED OPERATIONS:

DISCONTINUED OPERATIONS

.  DISCONTINUED OPERATIONS

On March 24, 2014, the Company resigned as the operator of the Joint Venture with Minerals La Negra S. de R.L. de C.V. and Trinidad Pacifica S. de R.L. de C.V. and sold 50 shares of the minimum fixed capital stock of Mexus Enterprises S.A. de C.V. to First Pursuit Silver de Mexico S. de R.L. de C.V. for the following consideration:

i)		Assumption of $468,000 of accounts payable;
ii)	Payment of $100,000 and $100,000 on July 2014 and July 2015, respectively, on behalf of the Company to Minerales de Tarchi S. de R.L. de C.V. for lease payments under an exploration agreement;

iii)	1,660,000 shares of common stock of Silver Pursuit Resources Limited; and
iv)		$4,000,000 due on or before March 24, 2015.

The sale of Mexus Enterprises S.A. de C.V. met the criteria for being reported as a discontinued operation and has been segregated from continuing operations for all periods presented.

The following table summarizes the results from discontinued operations:

	Period From April 1, 2013 to March 24, 2014
REVENUES
Revenues	$	581,489
Total revenues		581,489
EXPENSES
General and administrative		3,201
Exploration costs		2,367,956
Bad debt – related party		239,084
Total operating expenses		2,610,241
OTHER INCOME (EXPENSE)
Foreign exchange		22,345
		22,345
NET LOSS OF MEXUS ENTERPRISES S.A. DE C.V.	$	(2,006,407)

The following table summarizes the assets and liabilities of discontinued operations in the consolidated balance sheet:

	March 24, 2014
ASSETS
CURRENT ASSETS
Cash	$	-
Prepaid and other assets		100,924
TOTAL CURRENT ASSETS		100,924
EQUIPMENT, NET		3,440
OTHER ASSETS
Property costs		742,686
TOTAL OTHER ASSETS		742,686
TOTAL ASSETS	$	847,050
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	5,542
Notes payable		30,583
Notes payable – related party		1,999
TOTAL CURRENT LIABILITIES	$	38,124
CARRYING VALUE OF MEXUS ENTERPRISES S.A. DE C.V.	$	808,926

The following table summarizes the loss on disposal of Mexus Enterprises S.A. de C.V.:

	March 24, 2014
FAIR VALUE OF CONSIDERATION RECEIVED:
Assumption of accounts payable	$	468,000
Payment of $100,000 and $100,000 on July 2014 and July 2015, respectively, on behalf of the Company  to Minerales de Tarchi S. de R.L. de C.V. for lease payments under an exploration agreement (1)		178,939
1,660,000 shares of common stock of Silver Pursuit Resources Limited (2)		96,150
$4,000,000 due on or before March 24, 2015 (1)		3,448,276
Less: Allowance for amount due from First Pursuit Silver de Mexico S. de R.L. de C.V. (3)		(3,627,215)
		564,150
CARRYING VALUE OF MEXUS ENTERPRISES S.A. DE C.V.		808,926
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS	$	(244,776)

(1) The amounts due from First Pursuit Silver de Mexico S. de R.L. de C.V. is contracted at an interest rate substantially below market rates for similar type agreements. Accordingly, the Company imputed a discount of $571,785 at a market interest rate of approximately 16% in accordance FASB ASC 835,”Interest”.

(2) Silver Pursuit Resources Limited shares in common stock are traded on the TSX Venture Exchange and is valued based on the closing price of $0.065 CAD approximately $0.06 US on March 24, 2014.

(3) The recovery, if any, will be recorded in the consolidated statement of operations in the period collectability is reasonably assured.  The 50% interest in Mexus Enterprises S.A. de C.V. will be returned to the Company if the $4,000,000 amount is not paid by March 24, 2015. At March 31, 2015, the $4,000, amount has not been paid and  the 50% interest in Mexus Enterprises S.A. de C.V interest has not been delivered to the Company.

		Period Ended March 24, 2014
NET LOSS OF MEXUS ENTERPRISES S.A. DE C.V.	$	(2,006,407)
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS		(244,776)
LOSS ON DISCONTINUED OPERATIONS	$	(2,251,183)

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Common Stock Transactions (Details) - USD ($)	Mar. 27, 2015	Mar. 23, 2015	Mar. 11, 2015	Feb. 16, 2015	Jan. 30, 2015	Jan. 28, 2015	Jan. 27, 2015	Jan. 21, 2015	Jan. 16, 2015	Dec. 18, 2014	Dec. 04, 2014	Nov. 26, 2014	Oct. 30, 2014	Oct. 21, 2014	Sep. 25, 2014	Sep. 17, 2014	Sep. 09, 2014	Aug. 25, 2014	Aug. 20, 2014	Jul. 31, 2014	Jul. 16, 2014	Jun. 16, 2014	May. 01, 2014	Apr. 18, 2014	Apr. 16, 2014	Apr. 02, 2014	Mar. 13, 2014	Feb. 14, 2014	Feb. 05, 2014	Jan. 29, 2014	Dec. 31, 2013	Nov. 25, 2013	Nov. 13, 2013	Nov. 04, 2013	Nov. 01, 2013	Oct. 31, 2013	Sep. 19, 2013	Sep. 06, 2013	Aug. 26, 2013	Aug. 01, 2013	Jul. 31, 2013	Jul. 30, 2013	Jul. 29, 2013	Jul. 18, 2013	Jun. 26, 2013	Jun. 17, 2013	May. 22, 2013	May. 21, 2013	May. 03, 2013
Common Stock Transactions
Company issued shares of common stock to satisfy obligations under share subscription agreements/ conversion of principal and interest	5,975,371	3,070,782	4,066,363	3,261,401	2,293,937	244,000	3,552,726	3,843,138	1,881,721	1,288,000	2,408,146	1,204,747	783,000	2.466666	2,640,000	1,268,520	2,444,235	4,800,105	1,064,237	467,144	1,103,370	919,033	1,427,500	3,056,805	1,053,553	342,063	5,519,051	2,208,333	3,368,438	2,965,633	5,564,484	1,062,285	865,000	250,000	2,062,971	679,404	1,008,000	1,049,998	1,582,856	150,000	1,014,285	66,666	626,571	125,000	824,509	387,500	2,550,000	823,332	880,714
Value of shares of common stock issued		$ 76,770									$ 96,085		$ 39,034			$ 38,056			$ 42,569	$ 19,153		$ 36,761			$ 63,213	$ 29,075			$ 230,356
Value per share of common stock issued		$ 0.025									$ 0.0399		$ 0.0324			$ 0.030			$ 0.040	$ 0.041		$ 0.040			$ 0.060	$ 0.085			$ 0.0684
Conversion of principal and interest		$ 40,000									$ 35,000		$ 17,510			$ 19,690			$ 18,009	$ 7,996		$ 30,000			$ 38,500	$ 12,500			$ 95,592
Loss on settlement of debt		$ 36,770									$ 61,085		$ 21,524			$ 18,366			$ 24,560	$ 11,157		$ 6,761			$ 24,713	$ 16,576			$ 134,764
Obligation under share subscription agreements in cash/ cash receipts included in share subscriptions payable	$ 25,981		$ 35,000	$ 10,500	$ 8,000		$ 8,000	$ 19,000				$ 15,000						$ 10,001			$ 39,503		$ 92,245	$ 157,492			$ 54,981	$ 45,000		$ 102,965	$ 270,984	$ 52,235	$ 18,500	$ 15,000	$ 128,293	$ 40,764		$ 82,500	$ 50,500		$ 72,052	$ 6,000	$ 34,800	$ 10,000	$ 43,000	$ 27,000		$ 125,250	$ 119,250
Obligation under share subscription agreements in financing expense/cost/fees included in share subscriptions payable	4,864			20,000	11,500			15,000						$ 50,000	$ 16,000		$ 45,000																														$ 501,075
Obligation in the form of services included in share subscriptions payable			3,000	5,000		$ 7,800			$ 53,946	$ 30,912		$ 11,250		$ 18,750	$ 98,500		$ 27,000				$ 12,100			78,328			293,402			6,640	$ 35,000	$ 18,000	$ 50,000						$ 89,700				$ 12,600		$ 34,500				$ 18,000
Obligation for settlement of accounts payable included in share subscriptions payable			$ 15,491	1,790				43,529																$ 5,570				$ 85,867		$ 44,000
Obligation for settlement of notes payable included in share subscriptions payable	$ 63,464				11,000		$ 69,700	$ 7,500										$ 227,505
Obligation under share subscription agreements in equipment / tools and supplies /mineral properties included in share subscriptions payable					$ 1,500																		$ 15,354				$ 5,000										$ 100,800			$ 15,150
Obligation for settlement in accounts payable included in share subscriptions payable				$ 41,818

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Subsequent Events - Option and Joint Venture Agreement (Details) - Jul. 06, 2015 - USD ($)	Total
Subsequent Events - Option and Joint Venture Agreement Details
Cash payment made by Argonaut upon execution	$ 75,000
Cash payment to be made by Argonaut upon extension of option period to June 30, 2016	125,000
Cash payment to be made by Argonaut upon extension of option period to December 31, 2016	350,000
Cash payment to be made by Argonaut upon extension of option period to December 31, 2017	400,000
Monthly lease to be paid by Argonaut	1,000
Argonaut must expend a minimum in expenditures relating to drilling	$ 600,000
Percent of interest held in Newco by Argonaut	80.00%
Percent of interest held in Newco by the Company	20.00%

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Schedule of Discontinued operations (Tables)

12 Months Ended

Mar. 31, 2015

Schedule of Discontinued operations:

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The following table summarizes the results from discontinued operations:

	Period From April 1, 2013 to March 24, 2014
REVENUES
Revenues	$	581,489
Total revenues		581,489
EXPENSES
General and administrative		3,201
Exploration costs		2,367,956
Bad debt – related party		239,084
Total operating expenses		2,610,241
OTHER INCOME (EXPENSE)
Foreign exchange		22,345
		22,345
NET LOSS OF MEXUS ENTERPRISES S.A. DE C.V.	$	(2,006,407)

The following table summarizes the assets and liabilities of discontinued operations in the consolidated balance sheet:

	March 24, 2014
ASSETS
CURRENT ASSETS
Cash	$	-
Prepaid and other assets		100,924
TOTAL CURRENT ASSETS		100,924
EQUIPMENT, NET		3,440
OTHER ASSETS
Property costs		742,686
TOTAL OTHER ASSETS		742,686
TOTAL ASSETS	$	847,050
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities	$	5,542
Notes payable		30,583
Notes payable – related party		1,999
TOTAL CURRENT LIABILITIES	$	38,124
CARRYING VALUE OF MEXUS ENTERPRISES S.A. DE C.V.	$	808,926

The following table summarizes the loss on disposal of Mexus Enterprises S.A. de C.V.:

	March 24, 2014
FAIR VALUE OF CONSIDERATION RECEIVED:
Assumption of accounts payable	$	468,000
Payment of $100,000 and $100,000 on July 2014 and July 2015, respectively, on behalf of the Company  to Minerales de Tarchi S. de R.L. de C.V. for lease payments under an exploration agreement (1)		178,939
1,660,000 shares of common stock of Silver Pursuit Resources Limited (2)		96,150
$4,000,000 due on or before March 24, 2015 (1)		3,448,276
Less: Allowance for amount due from First Pursuit Silver de Mexico S. de R.L. de C.V. (3)		(3,627,215)
		564,150
CARRYING VALUE OF MEXUS ENTERPRISES S.A. DE C.V.		808,926
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS	$	(244,776)

(1) The amounts due from First Pursuit Silver de Mexico S. de R.L. de C.V. is contracted at an interest rate substantially below market rates for similar type agreements. Accordingly, the Company imputed a discount of $571,785 at a market interest rate of approximately 16% in accordance FASB ASC 835,”Interest”.

(2) Silver Pursuit Resources Limited shares in common stock are traded on the TSX Venture Exchange and is valued based on the closing price of $0.065 CAD approximately $0.06 US on March 24, 2014.

(3) The recovery, if any, will be recorded in the consolidated statement of operations in the period collectability is reasonably assured.  The 50% interest in Mexus Enterprises S.A. de C.V. will be returned to the Company if the $4,000,000 amount is not paid by March 24, 2015. At March 31, 2015, the $4,000, amount has not been paid and  the 50% interest in Mexus Enterprises S.A. de C.V interest has not been delivered to the Company.

		Period Ended March 24, 2014
NET LOSS OF MEXUS ENTERPRISES S.A. DE C.V.	$	(2,006,407)
LOSS ON DISPOSAL OF DISCONTINUED OPERATIONS		(244,776)
LOSS ON DISCONTINUED OPERATIONS	$	(2,251,183)

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Continuity of mineral property acquisition costs capitalized on the consolidated balance sheets (Details) {Stockholders equity} - USD ($)	12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Ures (a)
Balance of acquisition costs capitalized	$ 0	$ 0
Cash Payments	0	0
Share-based Payments	0	0
Impairment	0	0
Balance of acquisition costs capitalized	0	0
Corborca (b)
Balance of acquisition costs capitalized	505,947	490,797
Cash Payments	505,947	15,150
Share-based Payments	0	0
Impairment	0	0
Balance of acquisition costs capitalized	505,947	505,947
Total acquisition costs capitalized
Balance of acquisition costs capitalized	505,947	490,797
Cash Payments	505,947	15,150
Share-based Payments	0	0
Impairment	0	0
Balance of acquisition costs capitalized	$ 505,947	$ 505,947

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CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

12 Months Ended

Mar. 31, 2015

CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY:

CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITY

14.    CONVERTIBLE PROMISSORY NOTE DERIVATIVE LIABILITIES

The Convertible Promissory Note with Typenex is 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 liabilities has been measured at fair value at March 31, 2015 and 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 $0.011 per share and the conversion price has been adjusted accordingly.

The inputs into the binomial model are as follows:

	March 31, 2015	March 31, 2014
Closing share price	$0.0194	$0.08
Conversion price	$0.011	$0.0225
Risk free rate	0.14%	0.10%
Expected volatility	180%	105%
Dividend yield	0%	0%
Expected life	0.5 years	0.33 years

Additionally, the Convertible Promissory Note with JMJ Financial with an issue date of January 28, 2015 was accounted for under ASC 815.  The variable conversion price is not considered predominately based on a fixed monetary amount settleable with a variable number of shares due to the volatility and trading volume of the Company’s common stock. The Company’s convertible promissory note derivative liabilities has been measured at fair value at March 31, 2015 and January 28, 2015 using the Black-Scholes model.

The inputs into the Black-Scholes models are as follows:

	March 31, 2015	January 28, 2015
Closing share price	$0.0194	$0..029
Conversion price	$0.019	$0.025
Risk free rate	0.50%	0.50%
Expected volatility	129%	121%
Dividend yield	0%	0%
Expected life	1.83 years	2.0 years

The fair value of the conversion option derivative liabilities is $167,678 at March 31, 2015. The increase (decrease) in the fair value of the conversion option derivative liability of $(786,732) and $897,192 is recorded as a (gain) loss in the unaudited consolidated statements of operations for the years ended March 31, 2015 and 2014, respectively.