Going Concern

9 Months Ended

Oct. 31, 2014

Going Concern [Abstract]

Going Concern [Text Block]

NOTE 2 - Going Concern

The Company has an accumulated deficit of $23,016,606 and has a working capital deficit of $1,487,852 at October 31, 2014.  The Company has no current revenue producing operations and is in default on all of its outstanding debt. These conditions raise substantial doubt about the Company's ability to continue as a going concern.

The ability of the Company to achieve its operating goals and thus positive cash flows from operations is dependent upon the future market price of metals, future capital raising efforts, and the ability to achieve and sustain efficient revenue producing operations. Management's plans will require additional financing, reduced exploration activity or disposition of or joint ventures with respect to mineral properties. While the Company has been successful in capital raising endeavors in the past, there can be no assurance that its future efforts and anticipated operating improvements will be successful.

The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.