Property and Equipment

9 Months Ended

Aug. 31, 2011

Property and Equipment [Text Block]

7.	Property and Equipment
	Property and equipment primarily include capital expenditures associated with the Company’s corporate office, and mining equipment and camp facilities at the Nolan Gold Project in Alaska. Depreciation expense for the nine months ended August 31, 2011, was $78,976 (2010 - $163,642).
	A summary of the Company’s property and equipment as of August 31, 2011, and November 30, 2010, is as follows:

			August 31,	November 30,
			2011	2010
		Accumulated	Net Carrying	Net Carrying
	Cost	Depreciation	Value	Value
	$	$	$	$
Offices
Office leasehold improvements	124,123	6,420	117,703	–
Computer equipment and software	140,079	137,836	2,243	3,951
Furniture and fittings	394,559	391,060	3,499	3,725
Mining Project
Nolan gold project buildings	63,000	63,000	–	–
Leasehold improvements	48,123	38,499	9,624	16,843
Nolan mining equipment	1,017,987	641,265	376,722	435,735
Auto and trucks	19,193	12,155	7,038	9,917
Assets under construction	24,245	–	24,245	24,245
	1,831,309	1,290,235	541,074	494,416

Assets under construction are not subject to depreciation until substantially complete.