Dow Jones Description
We entered into an Agreement dated May 14, 2004 with the President of our
Company to acquire a 100% interest in seven placer claims from our President for
the issuance of 2,500,000 shares of our common stock to him. The placer claims
are located in the Cariboo Mining Division, British Columbia, Canada. The claims
are registered in the name of our President, who has executed several trust
agreements with us, whereby he has agreed to hold the claims in trust on our
behalf. The total cost of the placer claims charged to operations by us on our
financial statements is $1,700 and this figure represents the original cost of
the properties incurred by our President. To date we have not performed any work
on the claims. To date we have spent no funds on research and development
activities.
The placer claims are unencumbered and in good standing and there are no
competitive conditions which affect the claims. Further, there is no insurance
covering the claims. We believe that no insurance is necessary since the claims
are unimproved and contain no buildings or improvements. The tenure numbers,
names, owner number, work record to dates, status, mining division, area, and
tag numbers are as follows:
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