Mineral Properties

9 Months Ended

Mar. 31, 2015

Mineral Industries Disclosures [Abstract]

7.	Mineral Properties:

The Company has capitalized acquisition costs on mineral properties as follows:

	March 31, 2015		June 30, 2014
Sleeper	$	25,554,090	$	25,891,490
Mill Creek		2,096,616		2,096,616
Spring Valley		385,429		385,429
	$	28,036,135	$	28,373,535

Sleeper:

Sleeper is located in northern Nevada approximately 26 miles northwest of the town of Winnemucca. The Sleeper Gold Mine consists of 2,570 unpatented mining claims.

During the nine month period ended March 31, 2015, the Company dropped 212 mining claims it acquired in 2011 with a recorded value of $337,400. The Company determined that these mining claims no longer had any exploration potential.

Mill Creek:

The Mill Creek property consists of 36 unpatented lode mining claims totaling 720 acres south of Battle Mountain Nevada.

Spring Valley:

The Spring Valley property consists of 38 unpatented lode mining claims located in Pershing County, Nevada.