SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2011
SUBSEQUENT EVENTS	NOTE 17 – SUBSEQUENT EVENTS Eviction from Amargosa Lab With the consummation of the Shea Exchange Agreement, we acquired other assets. The other assets we acquired consisted of a property lease, which allowed us the use of an assay lab property and the associated water permits, (with a right to purchase for $6 million) and a contract agreement, which allowed us the use of processing permits, located in Amargosa Valley, Nevada (“Amargosa”). We were required to pay a monthly base rent of $17,500 on this lease and $5,000 on the contract agreement. Subsequent to December 31, 2011, the landlord of the Amargosa lease caused to have served a Five Day Notice To Pay Rent Or Quit due to default in the monthly $17,500 lease payments. The Company began immediate communications with the landlord, which resulted in a delay of further actions by the landlord to pursue any remedies. Then on February 9, 2012, the landlord caused to have served an Order For Summary Eviction (“Eviction”) due to continued default in lease payments. Effective with the Eviction, a total of $70,000 lease payments remain unpaid as well as $8,500 of late fees required pursuant to the terms of the lease. On February 10, 2012, the Beatty County Sheriff completed the Eviction at Amargosa and we as such, no longer have access to the assay lab or permits at Amargosa. Resignation of board member On February 11, 2012, the Company received from Manfred E. Birnbaum a notice of resignation from the Board of Directors (the “Board”). Effective with Mr. Birnbaum’s resignation, the Company’s Board approved a grant of 100,000 options for his continued service as a consultant. Furthermore, the Board amended his restricted stock unit agreement to allow for an immediate vesting of his 90,000 restricted stock units of the Company’s common stock and further allows for five (5) additional years to exercise his currently issued and fully vested 700,000 stock options. Additional Short-term loans from Pure Path Pure Path has loaned the Company an aggregate of $185,000 since February 2012 through April 2012, in a series of six-month loans that accrue interest at 6% per annum.

NOTE 17 – SUBSEQUENT EVENTS

Eviction from Amargosa Lab

With the consummation of the Shea Exchange Agreement, we acquired other assets. The other assets we acquired consisted of a property lease, which allowed us the use of an assay lab property and the associated water permits, (with a right to purchase for $6 million) and a contract agreement, which allowed us the use of processing permits, located in Amargosa Valley, Nevada (“Amargosa”). We were required to pay a monthly base rent of $17,500 on this lease and $5,000 on the contract agreement. Subsequent to December 31, 2011, the landlord of the Amargosa lease caused to have served a Five Day Notice To Pay Rent Or Quit due to default in the monthly $17,500 lease payments. The Company began immediate communications with the landlord, which resulted in a delay of further actions by the landlord to pursue any remedies. Then on February 9, 2012, the landlord caused to have served an Order For Summary Eviction (“Eviction”) due to continued default in lease payments. Effective with the Eviction, a total of $70,000 lease payments remain unpaid as well as $8,500 of late fees required pursuant to the terms of the lease. On February 10, 2012, the Beatty County Sheriff completed the Eviction at Amargosa and we as such, no longer have access to the assay lab or permits at Amargosa.

Resignation of board member

On February 11, 2012, the Company received from Manfred E. Birnbaum a notice of resignation from the Board of Directors (the “Board”).

Effective with Mr. Birnbaum’s resignation, the Company’s Board approved a grant of 100,000 options for his continued service as a consultant. Furthermore, the Board amended his restricted stock unit agreement to allow for an immediate vesting of his 90,000 restricted stock units of the Company’s common stock and further allows for five (5) additional years to exercise his currently issued and fully vested 700,000 stock options.

Additional Short-term loans from Pure Path

Pure Path has loaned the Company an aggregate of $185,000 since February 2012 through April 2012, in a series of six-month loans that accrue interest at 6% per annum.