INVESTMENT IN MINING RIGHTS

12 Months Ended

Dec. 31, 2011

Extractive Industries

Mineral Industries Disclosures [Text Block]

NOTE 2 – INVESTMENT IN MINING RIGHTS

During 2011 and 2010 the Company capitalized $0 and $310,829, respectively, of engineering mining costs. The Company wrote off the 2010 capitalized cost during 2011, due to those projects associated with those cost not moving forward as of December 31, 2011. It is the Company’s policy to capitalize engineering costs and amortize it over the life of the project. The Company will complete an impairment analysis at the end of each year.