MV Portfolios (MVP) 10-Q 23 Dec 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Oct. 31, 2013	Dec. 23, 2013
Document Documentand Entity Information [Abstract]	'	'
Entity Registrant Name	'CALIFORNIA GOLD CORP.	'
Entity Central Index Key	'0001363573	'
Document Type	'10-Q	'
Document Period End Date	31-Oct-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--01-31	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	115,201,260
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Oct. 31, 2013	Jan. 31, 2013
Current assets:	'	'
Cash	$67	$259,200
Prepaid expenses	9,370	16,283
Total current assets	9,437	275,483
Property and equipment, net	4,782	6,104
Mining rights	91,250	91,250
Total assets	105,469	372,837
Current liabilities:	'	'
Accounts payable	44,061	47,466
Accounts payable - related party	96,566	101,873
Derivative liabilities	141,065	327,661
Other accrued liabilities - related party	97,000	56,500
Total current liabilities	378,692	533,500
Total liabilities	378,692	533,500
Stockholders' deficit:	'	'
Preferred stock, par value $0.001 per share, 22,000,000 shares authorized; 22,000,000 shares issued and outstanding at October 31, 2013 and at January 31, 2013, respectively	22,000	22,000
Common stock, par value $0.001 per share, 300,000,000 shares authorized; 115,201,260 shares issued and outstanding at October 31, 2013 and at January 31, 2013, respectively	115,201	115,201
Additional paid-in capital	2,687,083	2,534,588
Deficit accumulated during the exploration stage	-3,097,507	-2,832,452
Total stockholders' deficit	-273,223	-160,663
Total liabilities and stockholders' deficit	$105,469	$372,837

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Oct. 31, 2013	Jan. 31, 2013
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	22,000,000	22,000,000
Preferred stock, shares issued	22,000,000	22,000,000
Preferred stock, shares outstanding	22,000,000	22,000,000
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	115,201,260	115,201,260
Common stock, shares outstanding	115,201,260	115,201,260

CONSOLIDATED_STATEMENTS_OF_EXP

CONSOLIDATED STATEMENTS OF EXPENSES (USD $)	3 Months Ended		9 Months Ended		114 Months Ended
	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2013
Expenses:	'	'	'	'	'
Mineral property expenses	$16,437	$37,987	$46,361	$220,872	$713,834
Bad debt expense	'	'	'	'	559,483
Depreciation expense	440	440	1,321	1,321	4,027
General and administrative expenses	65,035	170,803	416,421	861,616	3,572,411
Total operating expenses	81,912	209,230	464,103	1,083,809	4,849,754
Loss from operations	-81,912	-209,230	-464,103	-1,083,809	-4,849,754
Other income (expenses):	'	'	'	'	'
Interest income	6	154	114	828	3,403
Interest expense	'	'	'	'	-1,763
Realized and unrealized gain (loss) on derivatives, net	269,064	157,765	186,596	1,839,763	1,748,477
Gain on settlement of debt	12,338	'	12,338	'	12,338
Amortization of debt discount	'	'	'	'	-9,618
Foreign currency exchange loss	'	-369	'	-590	-590
Total other income (expenses)	281,408	157,550	199,048	1,840,001	1,752,247
Net income (loss)	$199,496	($51,680)	($265,055)	$756,192	($3,097,507)
Income (loss) per common share:	'	'	'	'	'
Income (loss) per common share - basic and diluted	$0	$0	$0	$0.01	'
Weighted average number of common shares outstanding - basic and diluted	115,201,260	115,127,084	115,201,260	114,132,579	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended		114 Months Ended
	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2013
Cash flows from operating activities:	'	'	'
Net income (loss)	($265,055)	$756,192	($3,097,507)
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'	'
Depreciation expense	1,321	1,321	4,027
Stock-based compensation	'	125,000	125,000
Stock-based compensation - related party	149,995	232,779	1,466,424
Amortization of debt discount	'	'	9,618
Gain on settlement of accounts payable - related party	-12,338	'	-12,338
Unrealized and realized (gain) loss on derivatives, net	-186,596	-1,839,763	-1,748,477
Changes in operating assets and liabilities:	'	'	'
Other receivables	'	5,907	'
Prepaid expenses	6,913	4,748	-9,370
Prepaid expenses - related party	'	'	'
Accounts payable	8,933	33,561	-1,948
Accounts payable - related party	-2,807	67,682	256,731
Other accrued expenses - related party	40,500	40,500	97,142
Interest accrued on notes payable from related party	'	'	1,621
Net cash used in operating activities	-259,133	-572,073	-2,909,077
Cash flows from investing activities:	'	'	'
Purchase of property and equipment	'	'	-8,809
Acquisition of mining rights	'	-40,000	-70,000
Net cash used in investing activities	'	-40,000	-78,809
Cash flows from financing activities:	'	'	'
Proceeds from related party loans	'	'	92,430
Proceeds from common and preferred stock issued, net of offering costs	'	168,250	2,958,523
Payments from cancellation of common stock	'	'	-63,000
Net cash provided by financing activities	'	168,250	2,987,953
Net increase (decrease) in cash	-259,133	-443,823	67
Cash - beginning of period	259,200	828,181	'
Cash - end of period	67	384,358	67
Cash paid during the period for:	'	'	'
Interest	'	'	'
Income taxes	'	'	'
Noncash investing and financing activities:	'	'	'
Contributed capital	'	'	374
Debt discount due to derivative liabilities	'	'	9,618
Contributed capital - payables settled by stockholder	'	'	157,665
Issuance of common stock for convertible notes	'	'	3,660
Re-class of derivatives related to convertible notes	'	'	91,365
Issuance of derivative warrant instruments	'	101,985	1,969,152
Related party note receivable write-off	'	'	557,927
Common stock cancellation	'	1,000	62,700
Issuance of common stock for acquisition of mining rights	'	3,750	21,250
Settlement of related party debt	$2,500	'	$2,500

1_GENERAL_ORGANIZATION_AND_BUS

1. GENERAL ORGANIZATION AND BUSINESS	9 Months Ended
	Oct. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
GENERAL ORGANIZATION AND BUSINESS	'
	California Gold Corp. (“California Gold” or the “Company”) is a Nevada corporation whose principal focus is the identification, acquisition, and development of rare and precious metals mining properties in the Americas. The Company is still in the exploration stage and has not generated any revenues from its mining properties to date.
	The Company was incorporated on April 19, 2004 under the name of Arbutus Resources, Inc. On August 9, 2007, the Company changed its name to US Uranium, Inc. On March 9, 2009, the Company changed its name to California Gold Corp.

2_BASIS_OF_PRESENTATION

2. BASIS OF PRESENTATION	9 Months Ended
	Oct. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	The accompanying unaudited interim consolidated financial statements as of October 31, 2013 and 2012 and for the three and nine months then ended have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the annual audited consolidated financial statements. The consolidated financial statements as of and for the three and nine months ended October 31, 2013 and 2012 are unaudited. In the opinion of management, these consolidated financial statements include all adjustments, which, unless otherwise disclosed, are of a normal recurring nature, necessary for a fair presentation of the financial position, results of operations, and cash flows for the periods presented. The results for interim periods are not necessarily indicative of results for the entire year. The balance sheet at January 31, 2013 has been derived from audited consolidated financial statements; however, the notes to the consolidated financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States of America for complete financial statements. The accompanying unaudited interim consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended January 31, 2013 as filed with the SEC.

3_SUMMARY_OF_SIGNIFICANT_ACCOU

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Oct. 31, 2013
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, CalGold de Mexico, S. de R.L. de C.V., formed to explore mining opportunities in Mexico. Equity investments in which we exercise significant influence, but do not control and are not the primary beneficiary, are accounted for using the equity method of accounting. Investments in which we do not exercise significant influence over the investee are accounted for using the cost method of accounting. All material intercompany balances and transactions have been eliminated.
	Mineral Rights, Exploration and Development Costs
	Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Such costs are carried as an asset of the Company until it becomes apparent through exploration activities that the cost of such properties will not be realized through mining operations. As of October 31, 2013 and January 31, 2013, the Company capitalized $91,250 of costs to acquire an interest in mineral rights related to the AuroTellurio Property (Note 5).
	Under U.S. GAAP, all mineral exploration expenditures associated with efforts to search for and establish mineral reserves are expensed as incurred. Costs to acquire properties are capitalized. Mine development costs incurred to construct the infrastructure necessary to extract the reserves and prepare the mine for production are also capitalized once proven and probable reserves exist, and the property is determined to be a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. For the three months ended October 31, 2013 and 2012, the Company recorded $16,437 and $37,987 of mineral exploration and development expenditures, respectively. For the nine months ended October 31, 2013 and 2012, the Company recorded $46,361 and $220,872 of mineral exploration and development expenditures, respectively. These expenditures were expensed as incurred and recorded as mineral property expenses in the Company’s consolidated statements of expenses.
	Stock-Based Compensation
	The Company accounts for its stock-based compensation in which the Company obtains employee services in share-based payment transactions under FASB ASC Topic 718, Compensation - Stock Compensation, which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments over the vesting period.
	The Company also adopted FASB ASC Topic 505-50, Equity-Based Payments to Non-Employees, to account for equity instruments issued to parties other than employees for acquiring goods or services. Such awards for services are recorded at either the fair value of the consideration received or the fair value of the instruments issued in exchange for such services, whichever is more reliably measurable.
	For the three months ended October 31, 2013 and 2012, the Company recorded $0 and $74,997 in stock-based compensation, respectively. For the nine months ended October 31, 2013 and 2012, the Company recorded $149,995 and $357,779 in stock-based compensation, respectively. The Company’s stock-based compensation was recorded as a component of general and administrative expenses.
	New Accounting Pronouncements
	The Company does not expect that adoption of the new accounting pronouncements will have a material effect on the Company’s consolidated financial statements.

4_EXPLORATION_STAGE_ACTIVITIES

4. EXPLORATION STAGE ACTIVITIES AND GOING CONCERN	9 Months Ended
	Oct. 31, 2013
Exploration Stage Activities and Going Concern [Abstract]	'
EXPLORATION STAGE ACTIVITIES AND GOING CONCERN	'
	The Company is currently in the exploration stage and has engaged in limited operations. While management of the Company believes that it will be successful in its planned capital formation and operating activities, there can be no assurance that the Company will be successful in the development of its planned objectives and generate sufficient revenues to earn a profit or sustain the operations of the Company.
	The Company’s activities through October 31, 2013 have been supported by debt and equity financing. It has a cumulative loss since inception of $3,097,507 as of October 31, 2013. Management continues to seek funding from its shareholders and other qualified investors to pursue its business plan. In the alternative, the Company may be amenable to a sale, merger, or other acquisition in the event such transaction is deemed by management to be in the best interests of the shareholders.
	The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has incurred a cumulative loss since inception and its cash resources are insufficient to meet its planned business objectives. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying 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.

5_MINING_RIGHTS

5. MINING RIGHTS	9 Months Ended
	Oct. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'
MINING RIGHTS	'
	As of October 31, 2013 and January 31, 2013, the Company had $91,250 of mineral rights related to the AuroTellurio Property, discussed below.
	On February 11, 2011, the Company entered into a property option agreement (the “AuroTellurio Option Agreement”) with Mexivada Mining Corp. (“Mexivada”) to acquire up to an 80% interest in Mexivada’s concessions comprising its AuroTellurio tellurium-gold-silver property (the “La Viuda Concessions,” the “AuroTellurio Property,” or the “Property”) in Mexico.
	Under the terms of the AuroTellurio Option Agreement, the Company will acquire up to an 80% legal and beneficial ownership interest in the AuroTellurio Property by making certain cash payments and share issuances to Mexivada and incurring certain exploration expenditures on the Property. See Note 11 for the Company’s commitments under the AuroTellurio Option Agreement.
	Mexivada and its Mexican subsidiary hold only the mineral rights in the AuroTellurio Property, which rights were granted by the government of Mexico. Neither Mexivada nor its Mexican subsidiary owns the real property rights to the land underlying the La Viuda Concessions. Prior to the first closing under the AuroTellurio Option Agreement on August 4, 2011, the Company obtained a surface rights agreement with the landowner on whose property the La Viuda Concessions are located to conduct its mineral exploration program. The agreement became effective June 17, 2011, runs for a term of 12 months, and may be extended for two additional years under the same terms. The Company will pay the land owner $14,400 for each year in which the Company carries out exploration work on this land. In June 2012, the agreement was extended for an additional year.
	On August 4, 2011, the Company conducted the first closing under the AuroTellurio Option Agreement. The purchase price for the first closing was $30,000 in cash and 250,000 common shares, fair valued at $17,500 based on the market price on the date of issuance. The $30,000 in cash includes the $20,000 deposits paid to Mexivada in December 2010 in connection with signing the binding offer letter agreement, which provided the Company with additional time to perform its due diligence, raise financing, and prepare a definite purchase agreement. At the closing, the Company paid the remaining $10,000 cash and issued the 250,000 common shares.
	In exchange, the Company received from Mexivada four fully executed title deeds, each transferring to the Company a twenty percent (20%) interest in the La Viuda Concessions comprising the AuroTellurio Property, to be held in escrow by the Company's counsel until fully vested in accordance with their terms. If the Company defaults on its commitments under the AuroTellurio Option Agreement or otherwise determines not to proceed with the acquisition of the AuroTellurio Property, all unvested interests and related title deeds in the AuroTellurio Property will be returned to Mexivada.
	On the first anniversary of the closing, the first $750,000 requirement per year was reached by the Company, per the AuroTellurio Option Agreement (Note 11). The Company made a payment of $40,000 on August 10, 2012 and issued 250,000 shares on August 28, 2012, fair valued at $3,750, based on the market price on the date of issuance. Having met all the required conditions, the first 20% interest in the La Viuda Concessions has vested in the Company as of August 28, 2012.

6_RELATED_PARTY_TRANSACTIONS

6. RELATED PARTY TRANSACTIONS	9 Months Ended
	Oct. 31, 2013
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	Compensation of Officers and Directors
	Officers and directors fees totaled $13,500 and $13,500 for the three months ended October 31, 2013 and 2012, respectively. Officers and directors fees totaled $40,500 and $27,000 for the nine months ended October 31, 2013 and 2012, respectively. The total compensation of officers and directors was recorded as a component of general and administrative expenses.
	As of October 31, 2013 and January 31, 2013, the Company owed its officers and directors $97,000 and $56,500, respectively, which were recorded as other accrued liabilities - related party in its consolidated balance sheets.
	Legal Fees
	Effective December 1, 2010, the Company entered into a 12-month retainer agreement with a stockholder, pursuant to which the Company shall pay a monthly fee of $5,500 for providing legal services relating to SEC regulatory compliance and reporting requirements. After the agreement expired in November 2011, the stockholder continued to provide these legal services on a month-to-month basis, with the fee subsequently increased to $6,000 per month. For the three and nine months ended October 31, 2013, the Company incurred $12,002 and $54,191 in legal fees relating to these services, respectively. For the three and nine months ended October 31, 2012, the Company incurred $18,000 and $58,500 in legal fees under this agreement, respectively.
	The Company also paid legal fees (calculated and billed on an hourly basis) for the preparation and filing of its resale registration statement of the Form S-1 covering the shares of the Company’s common stock underlying the warrants contained in the units sold in the 2010/2011 private placement offering. For the three and nine months ended October 31, 2013, the Company incurred $0 and $99,816 in legal fees for preparation of its registration statements of the Form S-1, respectively. As of October 31, 2013, the stockholder provided a discount amounting to $57,005 for past legal fees. For the three and nine months ended October 31, 2012, the Company incurred $238 and $39,014 in fees relating to these services, respectively.
	The same stockholder also provides the Company with legal services related to general corporate matters, which are billed on an hourly basis. During the three months ended October 31, 2013 and 2012, the Company incurred $3,732 and $3,465, respectively. During the nine months ended October 31, 2013 and 2012, the Company incurred $11,632 and $29,835, respectively.
	For the three months ended October 31, 2013 and 2012, the Company’s professional legal fees to the stockholder above totaled $15,734 and $21,703, respectively. For the nine months ended October 31, 2013 and 2012, the Company’s professional legal fees to the stockholder above totaled $165,639 and $143,342, respectively. The legal fees incurred were included as a component of general and administrative expenses. As of October 31, 2013, the stockholder provided a discount amounting to $57,005 for past legal fees related to the preparation of its registration statements of the Form S-1. A total of $77,862 outstanding payable for legal services provided was included in the Company’s consolidated balance sheets as of October 31, 2013, compared to $101,873 outstanding as of January 31, 2013.
	Consulting and Other Professional Fees
	In January 2011, the Company entered into an administrative services agreement with Incorporated Communications Services (“ICS”), a California corporation. George Duggan, the Company’s Chief Operations Officer, is the Vice President of ICS. Pursuant to the agreement with ICS, ICS will make available its address in La Canada, California to serve as the Company’s corporate headquarters and communications office, and provide the Company with basic administrative services, including coordinating and routing incoming telephone calls, handling investor inquiries, assisting in the preparation of press releases, developing an informational website, and coordinating with the auditors and financial statement preparers. The Company pays ICS a monthly fee of $6,000 for these services. This agreement with ICS became effective January 1, 2011, ran for 12 months and was extended for an additional 12 months beginning January 1, 2013 and January 1, 2014. The Company incurred $18,000 and $54,000 for the three and nine months ended October 31, 2013, and $18,000 and $54,000 for the three and nine months ended October 31, 2012, respectively, which were included as a component of general and administrative expenses. Additionally, the Company reimbursed ICS for the expenses related to the services provided of $704 and $2,810 for the three and nine months ended October 31, 2013, respectively. The Company reimbursed ICS for the expenses related to the services provided of $1,237 and $10,376 for the three and nine months ended October 31, 2012, respectively. As of October 31, 2013 and January 31, 2013, the Company had $18,704 and $0 outstanding payables to ICS.
	On June 6, 2011, the Company entered into a consulting agreement with a stockholder of the Company. The Company engaged the stockholder to provide certain consulting services related to the Company’s business for the period through June 5, 2013, for a monthly compensation fee of $6,000. Beginning February 6, 2012, the monthly consulting fee was reduced to $3,000 and then reversed back to $6,000 per month starting June 6, 2012. Additionally, in May 2012, the Company paid back the reduced fees for the months of March 2012 through May 2012 to the stockholder. The Company incurred $0 and $36,000 in consulting fees related to this agreement for the three and nine months ended October 31, 2013, respectively, which were included as a component of general and administrative expenses. For the three and nine months ended October 31, 2012, the Company recorded $18,000 and $54,500, respectively, in consulting fees to this stockholder. On October 9, 2013, the Company and the stockholder entered into a settlement agreement, in which the Company was deemed by the stockholder to have paid in full and fully satisfied all debts and obligations owed to the stockholder by the Company with respect to the aforementioned June 6, 2011 consulting agreement. The accounts payable - related party amount as of October 9, 2013, totaling $2,500, was settled and considered a contribution to capital. As of October 31, 2013 and January 31, 2013, the Company recorded payables to the stockholder in the amount of $0 and $2,500, respectively.

7_VENDOR_RELEASE_AND_SETTLEMEN

7. VENDOR RELEASE AND SETTLEMENTS	9 Months Ended
	Oct. 31, 2013
Notes to Financial Statements	'
7. VENDOR RELEASE AND SETTLEMENTS	'
	On October 8, 2013, the Company and a third party vendor entered into a settlement agreement, in which the Company was deemed by the third party vendor to have paid in full and fully satisfied all debts and obligations owed to the third party vendor by the Company with respect to a geophysical services agreement dated May 15, 2012 upon receipt of a $3,000 payment. The third party vendor received the aforementioned payment and the remaining accounts payable amount as of October 8, 2013, totaling $12,338, was settled and a gain was recorded.
	On October 9, 2013, the Company and a stockholder entered into a settlement agreement, in which the Company was deemed by the stockholder to have paid in full and fully satisfied all debts and obligations owed to the stockholder by the Company with respect to a consulting agreement dated June 6, 2011. The accounts payable - related party amount as of October 9, 2013, totaling $2,500, was settled and considered a contribution to capital. See Note 6.
	Also on October 9, 2013, the Company and certain of its employees and outside consultants entered into settlement agreements, in which the Company was deemed by the employees and outside consultants to have paid in full and fully satisfied all debts and obligations owed to the employees and outside consultants by the Company upon receipt of restricted shares of common stock, totaling 9,900,000 shares, with respect to past consulting agreements. As the shares had not been received as of the period ended October 31, 2013, the settlement transaction need not be accounted for as of October 31, 2013.
	On October 24, 2013, the Company and a stockholder entered into a settlement agreement, in which the Company was deemed by the stockholder to have paid in full and fully satisfied all debts and obligations owed to the stockholder by the Company upon receipt of the Company’s to be authorized Series B Preferred Stock shares on a post 1:1,000 reverse split basis (subject to adjustment for a change in the reverse split ratio), with a 9.99% blocker, with respect to legal services provided to the Company by the stockholder. As the shares had not been received as of the period ended October 31, 2013, the settlement transaction was not accounted for as of October 31, 2013.

8_DERIVATIVE_LIABILITIES

8. DERIVATIVE LIABILITIES	9 Months Ended
	Oct. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
DERIVATIVE LIABILITIES	'
	Derivative Warrant Instruments
	In the December 2010 and January 2011 Unit Offering, the Company incurred liabilities for the estimated fair value of derivative warrant instruments in the form of warrants. The estimated fair value of the derivative warrant instruments was calculated using the Black-Scholes option pricing model and amounted to $1,323,133 at the grant dates as of December 22, 2010 and January 13, 2011. These estimates were re-valued as being $12,691 at the balance sheet date as of October 31, 2012. The Company recorded a $125,175 and $1,370,784 change in value as unrealized gain in non-operating income for the three and nine months ended October 31, 2012, respectively. The estimated fair value of the derivative warrant instruments was calculated using a probability-weighted scenario analysis model as being $105,803 and $246,355 as of October 31, 2013 and January 31, 2013, respectively (See the Company’s model review and summary of October 31, 2013 and January 31, 2013 assumptions below). The Company recorded the change in value of the derivative liability in non-operating income for the three and nine months ended October 31, 2013.
	The fair value of warrants issued in the December 2010 and January 2011 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			30,739,129
	Market price of the Company’s common stock on the measurement dates		$	0.05 and 0.09
	Exercise price		$	0.125
	Risk free interest rate (1)			0.475	%
	Dividend yield			0	%
	Volatility			257.95	%
	Expected exercise term in years			1.5
	-1	The risk-free interest rate was determined by management using the average of 1- and 2-year Treasury Bill yield as of the grant dates.
	In April 2011, the Company added to the Unit Offering a first over-allotment option. As such, the Company incurred liabilities for the estimated fair value of derivative warrant instruments in the form of warrants. The estimated fair value of the derivative warrant instruments was calculated using the Black-Scholes option pricing model and amounted to $71,973, $131,077, and $88,824 at the grant dates of April 7, 2011, April 13, 2011, and April 30, 2011, respectively. The April 2011 grants were re-valued as being $16,934 at the balance sheet date as of October 31, 2012. The Company recorded a $20,058 and $194,183 change in value as unrealized gain in non-operating income for the three and nine months ended October 31, 2012, respectively. The estimated fair value of the derivative warrant instruments was calculated using a probability-weighted scenario analysis model as being $13,952 and $32,177 as of October 31, 2013 and January 31, 2013, respectively (See the Company’s model review and summary of October 31, 2013 and January 31, 2013 assumptions below). The Company recorded the change in value of the derivative liability in non-operating income for the three and nine months ended October 31, 2013.
	The fair value of warrants issued in the April 2011 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			4,000,000
	Market price of the Company’s common stock on the measurement dates		$	0.08 and 0.10
	Exercise price		$	0.125
	Risk free interest rate range (1)			0.61 - 0.81	%
	Dividend yield			0	%
	Volatility range			268.16 - 284.75	%
	Expected exercise term in years			1.5
	-1	The risk-free interest rate was determined by management using the 2-year Treasury Bill yield as of the grant dates.
	In June and July 2011, the Company closed its first and second over-allotment options. The Company incurred liabilities for the estimated fair value of derivative warrant instruments in the form of warrants. The estimated fair value of the derivative warrant instruments was calculated using the Black-Scholes option pricing model and amounted to $149,203 and $102,957 at the grant dates of June 15, 2011 and July 15, 2011, respectively. The grants were re-valued as being $26,389 at the balance sheet date as of October 31, 2012. The Company recorded a $12,541 and $196,119 change in value as unrealized gain in non-operating income for the three and nine months ended October 31, 2012, respectively. The estimated fair value of the derivative warrant instruments was calculated using a probability-weighted scenario analysis model as being $13,961 and $32,237 as of October 31, 2013 and January 31, 2013, respectively (See the Company’s model review and summary of October 31, 2013 and January 31, 2013 assumptions below). The Company recorded the change in value of the derivative liability in non-operating income for the three and nine months ended October 31, 2013.
	The fair value of warrants issued in the June and July 2011 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			4,000,000
	Market price of the Company’s common stock on the measurement dates		$	0.07 and 0.08
	Exercise price		$	0.125
	Risk free interest rate range (1)			0.37 - 0.38	%
	Dividend yield			0	%
	Volatility range			257.60 - 259.63	%
	Expected exercise term in years			1.5
	-1	The risk-free interest rate was determined by management using the 2-year Treasury Bill yield as of the grant dates.
	As of February 1, 2012, the Company amended the terms of the warrants issued during the 2010/2011 private placement offerings, such that (i) their term has been extended by nine months and (ii) one-half of the warrants (19,369,565) retain the exercise price of $0.125 per share, and the other one-half of the warrants (19,369,564) have an exercise price of $0.05 per share.
	As a result of the issuance of the March 2012 Units at $0.04 per unit, a weighted average anti-dilution adjustment was made with respect to those warrants exercisable for 19,369,565 of the shares being offered at the original exercise price of $0.125 per share. Since the $0.04 price per unit of the March 2012 Units was lower than the $0.125 warrant exercise price, the exercise price with respect to these 19,369,565 warrants was lowered to $0.12, post March 2012 Unit Offering, and the aggregate number of shares issuable upon exercise of these warrants was increased to 20,176,630. Because the anti-dilution provisions of the warrants call for rounding to the nearest cent, no adjustments were required for the other 19,369,564 warrants, which have an exercise price of $0.05 per share.
	In March 2012, pursuant to a private placement offering, the Company issued 4,250,000 warrants to purchase 0.5 shares of common stock per unit. The Company recorded a derivative liability upon issuance of the warrants. The estimated fair value of the derivative warrant instruments was calculated using the Black-Scholes option pricing model and amounted to $101,985 at the grant date of March 16, 2012. The grants were re-valued as being $ 23,308 at the balance sheet date as of October 31, 2012. The Company recorded a $9 change in value as unrealized loss in non-operating income for the three months ended October 31, 2012, and a $78,677 change in value as unrealized gain in non-operating income for the nine months ended October 31, 2012. The estimated fair value of the derivative warrant instruments was calculated using a probability-weighted scenario analysis model as being $7,349 and $16,892 as of October 31, 2013 and January 31, 2013, respectively (See the Company’s model review and summary of October 31, 2013 and January 31, 2013 assumptions below). The Company recorded the change in value of the derivative liability in non-operating income for the three and nine months ended October 31, 2013.
	The fair value of warrants issued in the March 2012 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			2,125,000
	Market price of the Company’s common stock on the measurement date		$	0.05
	Exercise price		$	0.06
	Risk free interest rate (1)			0.37	%
	Dividend yield			0	%
	Volatility			295.28	%
	Expected exercise term in years			2
	-1	The risk-free interest rate was determined by management using the 2-year Treasury Bill yield as of the grant date.
	As of December 19, 2012, the Company amended the terms of the warrants issued during the 2010/2011 private placement offerings, such that (i) their term shall be extended for a period of an additional three years from its date of expiration as previously amended and (ii) the exercise price of all of the warrants, exercisable for an aggregate of 39,546,194 shares of common stock, including anti-dilution adjustments, sold in the Offering shall be reduced to $0.03 per whole share through the third year of the extended term of the warrants, then increased to $0.04 per whole share during the fourth year of the term, and to $0.05 per whole share during the fifth year of the term. The valuation of the warrants at October 31, 2013 and January 31, 2013 reflects the new terms. The estimated fair value of the derivative warrant instruments was calculated using a probability-weighted scenario analysis model as being $133,716 and $310,769 as of October 31, 2013 and January 31, 2013, respectively (See the Company’s model review and summary of October 31, 2013 and January 31, 2013 assumptions below). The Company recorded the change in value of the derivative liability in non-operating income for the three and nine months ended October 31, 2013.
	During the fourth quarter of the year ended January 31, 2013, the Company completed a review of the valuation of its derivative warrant instruments. The Company determined that as a result of the aforementioned amendments to the exercise price during the year ended January 31, 2013, the Company should adopt the probability-weighted scenario analysis model for the year ended January 31, 2013. The estimated fair value of all derivative warrant instruments was calculated as being $141,065 and $327,661 at the balance sheet dates as of October 31, 2013 and January 31, 2013, respectively. The Company recorded an $186,596 net change in value of the derivative liability as unrealized gain in non-operating income for the nine months ended October 31, 2013.
	The following is a summary of the assumptions used in the probability-weighted scenario analysis model to estimate the fair value of the warrants as of the balance sheet dates as of October 31, 2013 and January 31, 2013, respectively:
			October 31,			January 31,
			2013			2013
	Common stock issuable upon exercise of warrants			41,671,195			41,671,195
	Market price of the Company’s common stock on the measurement dates			0.004			0.008
	Exercise price range			0.03 - 0.06			0.03 - 0.06
	Risk free interest rate range (1)			0.31 - 0.76	%		0.42 - 0.65	%
	Dividend yield			0	%		0	%
	Volatility range			326.14 - 351.69	%		306.62 - 327.98	%
	Expected exercise term in years			2.14 - 3.38			2.89 - 4.12
	-1	The risk-free interest rate was determined by management using the 3-year and the average of the 3- and 5-year Treasury Bill as of October 31, 2013 and January 31, 2013.

9_FAIR_VALUE_MEASUREMENTS

9. FAIR VALUE MEASUREMENTS	9 Months Ended
	Oct. 31, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE MEASUREMENTS	'
	As defined in FASB ASC Topic 820, fair value is the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This Topic requires disclosure that establishes a framework for measuring fair value and expands disclosure about fair value measurements. The statement requires fair value measurements be classified and disclosed in one of the following categories:
	Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis.
	Level 2: Pricing inputs other than quoted market prices included in Level 1 that are based on observable market data and are directly or indirectly observable for substantially the full term of the asset or liability. These include quoted market prices for similar assets or liabilities, quoted market prices for identical or similar assets in markets that are not active, adjusted quoted market prices, inputs from observable data such as interest rate and yield curves, volatilities or default rates observable at commonly quoted intervals or inputs derived from observable market data by correlation or other means.
	Level 3: Pricing inputs that are unobservable or less observable from objective sources. Unobservable inputs should only be used to the extent observable inputs are not available. These inputs maintain the concept of an exit price from the perspective of a market participant and should reflect assumptions of other market participants. An entity should consider all market participant assumptions that are available without unreasonable cost and effort. These are given the lowest priority and are generally used in internally developed methodologies to generate management's best estimate of the fair value when no observable market data is available.
	Financial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of the fair value of assets and liabilities and their placement within the fair value hierarchy levels.
	Certain assets and liabilities are reported at fair value on a recurring or nonrecurring basis in the Company’s consolidated balance sheets. The following methods and assumptions were used to estimate the fair values:
	Cash, Prepaid expenses, Mining rights, Accounts payable, and Accrued liabilities
	The carrying amounts approximate fair value because of the short-term nature or maturity of the instruments.
	Derivative liabilities
	The Company’s determination of fair value of its derivative instruments incorporates various factors required under FASB Topic ASC 815. The fair values of the Company’s derivatives are valued using less observable data from objective sources as inputs into internal valuation models. Therefore, the Company considers the fair value of its derivatives to be Level 3 hierarchy.
	The following table sets forth, by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of October 31, 2013 and January 31, 2013, respectively:
		Fair Value Measurements at
		October 31, 2013 and January 31, 2013
	Description	(Level 1)		(Level 2)		(Level 3)		Total
								Carrying
								Value
	Derivative liability - October 31, 2013	$	-	$	-	$	141,065	$	141,065
	Derivative liability - January 31, 2013	$	-	$	-	$	327,661	$	327,661
	The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as level 3 in the fair value hierarchy:
		Significant Unobservable Inputs
		(Level 3)
		Nine Months Ended
		October 31,
		2013		2012
	Derivative liabilities - beginning balance at January 31, 2013 and 2012	$	327,661	$	1,817,100
	Additions		-		101,985
	Reductions		-		-
	Change in fair value		-186,596		-1,839,763
	Derivative liabilities - ending balance at October 31, 2013 and 2012	$	141,065	$	79,322
	Realized and unrealized gain (loss) on derivatives, net, included in earnings for the nine-month periods ended October 31, 2013 and 2012	$	186,596	$	1,839,763

10_STOCKBASED_COMPENSATION

10. STOCK-BASED COMPENSATION	9 Months Ended
	Oct. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
STOCK-BASED COMPENSATION	'
	Stock Options
	The Company has a stock-based compensation plan known as the 2007 Stock Option Plan (the “Plan”). The Plan provides for the granting of incentive and non-qualified stock options to acquire common shares in the capital of California Gold Corp. The number of shares authorized under the Plan is 16,000,000. As of October 31, 2013, 6,000,000 shares remain available for future grants under the Plan.
	On July 27, 2011, the Company granted options to purchase 11,000,000 shares of its common stock to its employees and outside consultants. These options have a 10-year term and were granted with an exercise price of $0.09. One-third of these options, or 3,666,667, vested on the date of the grant, with the remaining two-thirds vesting on the first and second anniversaries of the date of grant. As of October 31, 2013, a total of 10,000,000 options had vested, which included an additional 3,333,333 options which vested on July 27, 2012, the first anniversary of the grant date, and an additional 3,333,333 options which vested on July 27, 2013, the second anniversary of the grant date. All vested options are exercisable, in full or in part, at any time after vesting, until termination. On May 4, 2012, one of the Company’s directors resigned and therefore, all of his 666,667 non-vested options terminated on that date and his vested but unexercised options totaling 333,333 expired and were forfeited on August 4, 2012.
	The Company recorded the stock-based compensation expense - related party attributable to options of $0 and $149,995 during the three and nine months ended October 31, 2013, respectively. The Company recorded the stock-based compensation expense - related party attributable to options of $74,997 and $232,779 during the three and nine months ended October 31, 2012. As of October 31, 2013, there was no unrecognized compensation cost related to non-vested stock options. Outstanding options had $0 intrinsic value at October 31, 2013, due to the exercise price being greater than the value of the Company’s common stock at the reporting date.
	The fair value of options granted in July 2011 was measured at the date of grant using the Black-Scholes option-pricing model with the following assumptions:
	Market price of the Company’s common stock on grant date	$	0.09
	Risk free interest rate (1)		3.01	%
	Dividend yield		0	%
	Volatility		259.13	%
	Expected life	6 years
	Expected forfeiture rate		0	%
	(1)    The risk-free interest rate was determined by management using the 10-year Treasury Bill yield as of the grant date.

11_COMMITMENTS_AND_CONTINGENCI

11. COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Oct. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	In addition to a $30,000 cash payment and a 250,000 stock issuance made at the First Closing under the AuroTellurio Option Agreement on August 4, 2011 (Note 5), assuming the Company exercises its right to acquire each of the four twenty percent (20%) interests in the AuroTellurio Property, the Company will make the following cash payments and share issuances to Mexivada: (i) $40,000 and 250,000 shares on the first anniversary of the Closing; (ii) $50,000 and 300,000 shares on the second anniversary of the Closing; (iii) $70,000 and 350,000 shares on the third anniversary of the Closing; and (iv) $100,000 and 500,000 shares on the fourth anniversary of the Closing. In connection with the AuroTellurio Option Agreement, the Company will pay an aggregate total of $290,000 in cash and 1,650,000 common shares.
	On October 24, 2013, the Company entered into an amendment (the “Amendment”) to its AuroTellurio Option Agreement pursuant to which Mexivada agreed to accept a cash payment of $17,500, instead of the $50,000 specified in the original AuroTellurio Option Agreement, as payment in full of the cash payment required to be made to Mexivada in connection with the vesting of the second 20% interest in the La Viuda Concessions.  Additionally, according to the Amendment, Mexivada agreed to waive, with respect to the second 20% interest, the requirement set forth in the AuroTellurio Option Agreement, that the Company issue to Mexivada 300,000 shares of the Company’s common stock, and the Amendment extends the second 20% interest due date for a period of 12 months, until August 4, 2014. The Amendment does not modify the cash payment and stock issuance requirements of the AuroTellurio Option Agreement relating to the two remaining 20% interests. It does, however, extend payment and issuance dates for each of the third and fourth 20% interest blocks by one year.
	Under the terms of the AuroTellurio Option Agreement, the Company is also committed to incur $3,000,000 in cumulative exploration expenditures on the Property over a four-year period at an investment rate of at least $750,000 per year. The Company will earn a 20% vested interest in the AuroTellurio Property in the first year of the AuroTellurio Option Agreement by investing $750,000 in an exploration program and up to an additional 60% interest in the Property, in blocks of 20% each, by investing an additional $750,000 in the exploration program in each of the following three years, or sooner, and meeting all of the other required terms of the AuroTellurio Option Agreement. Each 20% interest will vest earlier if each year’s cash and stock payments to Mexivada and $750,000 exploration expenditure investment are completed earlier than scheduled.
	Under the terms of the Agreement, the Company will act as “Operator,” exclusively responsible, in consultation with Mexivada, for carrying out and administering exploration, development and mining work on the AuroTellurio Property. If costs of the exploration program exceed the agreed upon $3,000,000 investment, the Company will share additional costs with Mexivada on a proportionate share basis. Once the Company has earned its full 80% interest in the AuroTellurio Property, the Company will form a joint venture with Mexivada applicable to the further development and commercialization of the AuroTellurio Property.
	The Company obtained a surface rights agreement, with the landowner on whose property the La Viuda Concessions are located, to conduct its mineral exploration program, effective June 17, 2011. The Company will pay the land owner $14,400 for each year in which the Company carries out exploration work on this land. The Company has completed the majority of Phase 1 of its 2011/2012 exploration program and has conducted mapping, trenching and sampling programs at the AuroTellurio Property, as well as gravity and magnetic geophysical surveys, including a helicopter-borne magnetics and radiometric survey, in preparation for an initial 3,000-meter drilling program that is planned for implementation in 2013 or 2014.
	As of October 31, 2013, the Company incurred approximately $1,500,000 since inception in its exploration and development expenditures, which are expensed as incurred. In addition to the Company’s mineral exploration expenditures, Mexivada accepted certain other Company expenses towards its minimum requirement of $750,000 per year, such as a percentage of its accounting, legal and consulting fees, compensation of its officers and directors, and management support services, which were included as a component of general and administrative expenses in the Company’s consolidated statements of expenses. Mexivada accepted approximately $1,089,407 of total expenses as of June 30, 2012 (the date in which the Company’s expenses were reviewed by Mexivada), and confirmed that the amounts over $750,000 would be applied towards the second-year requirements. Mexivada also confirmed that it would grant the first 20% interest in the AutoTellurio project to the Company, after the Company made the $40,000 cash payment and issued 250,000 of its shares to Mexivada in connection with the AuroTellurio Option agreement. The $40,000 payment was made on August 10, 2012 and the 250,000 shares were issued to Mexivada on August 28, 2012.

12_SUBSEQUENT_EVENTS

12. SUBSEQUENT EVENTS	9 Months Ended
	Oct. 31, 2013
Subsequent Events [Abstract]	'
12. SUBSEQUENT EVENTS	'
	Option Surrender Agreements
	On November 7, 2013, the Company entered into option surrender agreements with its employees and outside consultants (together, the “Optionees”) pursuant to which the Optionees irrevocably agreed to surrender (the “Option Surrender”) to the Company for cancellation, without any further actions on their part, options granted to each of them under the Company’s 2007 Stock Option Plan (the “Plan”) exercisable for, in the aggregate, 10,000,000 shares of its common stock. Following this Option Surrender, there were no options outstanding under the Plan.
	Private Placement of Convertible Promissory Notes
	On November 15, 2013, the Company held a closing of a private placement offering (the “November 2013 Offering”) pursuant to which it sold to various accredited investors (collectively, the “Investors”) $325,000 in principal amount of its 10% convertible promissory notes (the “Notes”) and warrants (the “Warrants”).
	The Notes bear interest at a 10% annual interest rate and mature two (2) years from the date of issuance. The Notes contain a mandatory conversion provision providing that upon the Company’s filing of a Certificate of Designation of Series B Convertible Preferred Stock with the Secretary of State of the State of Nevada, all of the outstanding principal amount of, and accrued but unpaid interest on, the Notes will automatically, without the necessity of any action by the Investors or the Company, convert into shares of its to be authorized Series B convertible preferred stock, par value $0.001 per share (the “Series B Preferred Stock”), at a conversion price of $0.001 per share (the “Conversion Price”). The Conversion Price is subject to adjustment for a planned reverse stock split (the “Reverse Split”) at a ratio of 1,000 to 1 such that the Conversion Price, post-Reverse Split, will be $1.00 per share (subject to further adjustment upon a possible change in the Reverse Split ratio).
	Each share of Series B Preferred Stock will be convertible at any time into one share of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at the Conversion Price as adjusted for the Reverse Split, subject to a 9.99% conversion blocker. Each share of Series B Preferred Stock will participate in dividends and other distributions on an equivalent basis with the Company’s Common Stock. Holders of Series B Preferred Stock shall vote together with the holders of Common Stock as a single class, and each holder of outstanding shares of Series B Preferred Stock shall be entitled to cast the number of votes equal to the number of whole shares of Common Stock into which the shares of Series B Preferred Stock held by such holder are convertible as of the record date for determining stockholders entitled to vote on a particular matter.
	The Warrants entitle the Investors to purchase one thousand (1,000) shares of Common Stock for each $1.00 principal amount of the Notes purchased, at an exercise price (the “Exercise Price”) of $0.001 per share. The Exercise Price and the number of shares of Common Stock issuable upon exercise of the Warrants are subject to adjustment for the planned Reverse Split at a ratio of 1,000 to 1 such that the Exercise Price, post-Reverse Split, will be $1.00 per share and the number of shares of Common Stock issuable upon exercise of the Warrants will be 325,000 (subject to further adjustment upon a possible change in the Reverse Split ratio). The Warrants will be exercisable from issuance until ten (10) years after the closing of the November 2013 Offering.
	As a condition to the November 2013 Offering, the Company has undertaken all steps necessary to effect the authorization of the Series B Preferred Stock and the Reverse Split.

3_SUMMARY_OF_SIGNIFICANT_ACCOU1

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Oct. 31, 2013
Accounting Policies [Abstract]	'
Principles of Consolidation	'
	The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, CalGold de Mexico, S. de R.L. de C.V., formed to explore mining opportunities in Mexico. Equity investments in which we exercise significant influence, but do not control and are not the primary beneficiary, are accounted for using the equity method of accounting. Investments in which we do not exercise significant influence over the investee are accounted for using the cost method of accounting. All material intercompany balances and transactions have been eliminated.
Mineral Rights, Exploration and Development Costs	'
	Costs of acquisition and option costs of mineral rights are capitalized upon acquisition. Such costs are carried as an asset of the Company until it becomes apparent through exploration activities that the cost of such properties will not be realized through mining operations. As of October 31, 2013 and January 31, 2013, the Company capitalized $91,250 of costs to acquire an interest in mineral rights related to the AuroTellurio Property (Note 5).
	Under U.S. GAAP, all mineral exploration expenditures associated with efforts to search for and establish mineral reserves are expensed as incurred. Costs to acquire properties are capitalized. Mine development costs incurred to construct the infrastructure necessary to extract the reserves and prepare the mine for production are also capitalized once proven and probable reserves exist, and the property is determined to be a commercially mineable property. Costs incurred to maintain current production or to maintain assets on a standby basis are charged to operations. For the three months ended October 31, 2013 and 2012, the Company recorded $16,437 and $37,987 of mineral exploration and development expenditures, respectively. For the nine months ended October 31, 2013 and 2012, the Company recorded $46,361 and $220,872 of mineral exploration and development expenditures, respectively. These expenditures were expensed as incurred and recorded as mineral property expenses in the Company’s consolidated statements of expenses.
Stock-Based Compensation	'
	The Company accounts for its stock-based compensation in which the Company obtains employee services in share-based payment transactions under FASB ASC Topic 718, Compensation - Stock Compensation, which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments over the vesting period.
	The Company also adopted FASB ASC Topic 505-50, Equity-Based Payments to Non-Employees, to account for equity instruments issued to parties other than employees for acquiring goods or services. Such awards for services are recorded at either the fair value of the consideration received or the fair value of the instruments issued in exchange for such services, whichever is more reliably measurable.
	For the three months ended October 31, 2013 and 2012, the Company recorded $0 and $74,997 in stock-based compensation, respectively. For the nine months ended October 31, 2013 and 2012, the Company recorded $149,995 and $357,779 in stock-based compensation, respectively. The Company’s stock-based compensation was recorded as a component of general and administrative expenses.
New Accounting Pronouncements	'
	The Company does not expect that adoption of the new accounting pronouncements will have a material effect on the Company’s consolidated financial statements.

8_DERIVATIVE_LIABILITIES_Table

8. DERIVATIVE LIABILITIES (Tables)	9 Months Ended
	Oct. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Liabilities for Estimated Fair Value of Derivative Warrant Instruments	'
	The fair value of warrants issued in the December 2010 and January 2011 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			30,739,129
	Market price of the Company’s common stock on the measurement dates		$	0.05 and 0.09
	Exercise price		$	0.125
	Risk free interest rate (1)			0.475	%
	Dividend yield			0	%
	Volatility			257.95	%
	Expected exercise term in years			1.5
	-1	The risk-free interest rate was determined by management using the average of 1- and 2-year Treasury Bill yield as of the grant dates.
	The fair value of warrants issued in the April 2011 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			4,000,000
	Market price of the Company’s common stock on the measurement dates		$	0.08 and 0.10
	Exercise price		$	0.125
	Risk free interest rate range (1)			0.61 - 0.81	%
	Dividend yield			0	%
	Volatility range			268.16 - 284.75	%
	Expected exercise term in years			1.5
	-1	The risk-free interest rate was determined by management using the 2-year Treasury Bill yield as of the grant dates.
	The fair value of warrants issued in the June and July 2011 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			4,000,000
	Market price of the Company’s common stock on the measurement dates		$	0.07 and 0.08
	Exercise price		$	0.125
	Risk free interest rate range (1)			0.37 - 0.38	%
	Dividend yield			0	%
	Volatility range			257.60 - 259.63	%
	Expected exercise term in years			1.5
	-1	The risk-free interest rate was determined by management using the 2-year Treasury Bill yield as of the grant dates.
	The fair value of warrants issued in the March 2012 Unit Offering has been estimated on the dates of grant using the Black-Scholes option pricing model, under the following assumptions:
	Common stock issuable upon exercise of warrants			2,125,000
	Market price of the Company’s common stock on the measurement date		$	0.05
	Exercise price		$	0.06
	Risk free interest rate (1)			0.37	%
	Dividend yield			0	%
	Volatility			295.28	%
	Expected exercise term in years			2
	-1	The risk-free interest rate was determined by management using the 2-year Treasury Bill yield as of the grant date.
	The following is a summary of the assumptions used in the probability-weighted scenario analysis model to estimate the fair value of the warrants as of the balance sheet dates as of October 31, 2013 and January 31, 2013, respectively:
			October 31,			January 31,
			2013			2013
	Common stock issuable upon exercise of warrants			41,671,195			41,671,195
	Market price of the Company’s common stock on the measurement dates			0.004			0.008
	Exercise price range			0.03 - 0.06			0.03 - 0.06
	Risk free interest rate range (1)			0.31 - 0.76	%		0.42 - 0.65	%
	Dividend yield			0	%		0	%
	Volatility range			326.14 - 351.69	%		306.62 - 327.98	%
	Expected exercise term in years			2.14 - 3.38			2.89 - 4.12
	-1	The risk-free interest rate was determined by management using the 3-year and the average of the 3- and 5-year Treasury Bill as of October 31, 2013 and January 31, 2013.

9_FAIR_VALUE_MEASUREMENTS_Tabl

9. FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Oct. 31, 2013
Fair Value Disclosures [Abstract]	'
Company's Financial Assets and Liabilities Accounted at Fair Value on Recurring Basis	'
		Fair Value Measurements at
		October 31, 2013 and January 31, 2013
	Description	(Level 1)		(Level 2)		(Level 3)		Total
								Carrying
								Value
	Derivative liability - October 31, 2013	$	-	$	-	$	141,065	$	141,065
	Derivative liability - January 31, 2013	$	-	$	-	$	327,661	$	327,661
Reconciliation of Changes in Fair Value of Assets and Liabilities Classified As Level 3	'
		Significant Unobservable Inputs
		(Level 3)
		Nine Months Ended
		October 31,
		2013		2012
	Derivative liabilities - beginning balance at January 31, 2013 and 2012	$	327,661	$	1,817,100
	Additions		-		101,985
	Reductions		-		-
	Change in fair value		-186,596		-1,839,763
	Derivative liabilities - ending balance at October 31, 2013 and 2012	$	141,065	$	79,322
	Realized and unrealized gain (loss) on derivatives, net, included in earnings for the nine-month periods ended October 31, 2013 and 2012	$	186,596	$	1,839,763

10_STOCKBASED_COMPENSATION_Tab

10. STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Oct. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Fair Value of Options Granted Measured at Date of Grant Using Black-Scholes Model	'
	Market price of the Company’s common stock on grant date	$	0.09
	Risk free interest rate (1)		3.01	%
	Dividend yield		0	%
	Volatility		259.13	%
	Expected life	6 years
	Expected forfeiture rate		0	%
	(1)    The risk-free interest rate was determined by management using the 10-year Treasury Bill yield as of the grant date.

3_SUMMARY_OF_SIGNIFICANT_ACCOU2

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	3 Months Ended		9 Months Ended		114 Months Ended
	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2013	Oct. 31, 2012	Oct. 31, 2013	Jan. 31, 2013
Disclosure Summary Of Significant Accounting Policies Additional Information [Abstract]	'	'	'	'	'	'
Mineral Rights	$91,250	'	$91,250	'	$91,250	$91,250
Mineral property expenses	16,437	37,987	46,361	220,872	713,834	'
Stock-based compensation	$0	$74,997	$149,995	$357,779	'	'

4_EXPLORATION_STAGE_ACTIVITIES1

4. EXPLORATION STAGE ACTIVITIES AND GOING CONCERN (Details Narrative) (USD $)	Oct. 31, 2013	Jan. 31, 2013
Disclosure Exploration Stage Activities and Going Concern Additional Information [Abstract]	'	'
Development stage enterprise, deficit accumulated during development stage	$3,097,507	$2,832,452

8_DERIVATIVE_LIABILITIES_Detai

8. DERIVATIVE LIABILITIES (Details) (USD $)	9 Months Ended
	Oct. 31, 2013
Dividend yield	0.00%
Expected exercise term in years	'6 years
Warrant 1	'
Common stock issuable upon exercise of warrants	30,739,129
Market price of the Companybs common stock on the measurement dates, min	0.05
Market price of the Companybs common stock on the measurement dates, max	0.09
Exercise price	0.125
Risk free interest rate range (1), min	0.48%	[1]
Dividend yield	0.00%
Volatility range, min	257.95%
Expected exercise term in years	'1 year 6 months
Warrant 2	'
Common stock issuable upon exercise of warrants	4,000,000
Market price of the Companybs common stock on the measurement dates, min	0.08
Market price of the Companybs common stock on the measurement dates, max	0.1
Exercise price	0.125
Risk free interest rate range (1), min	0.61%	[1]
Risk free interest rate range (1), max	0.81%	[1]
Dividend yield	0.00%
Volatility range, min	268.16%
Volatility range, max	284.75%
Expected exercise term in years	'1 year 6 months
Warrant 3	'
Common stock issuable upon exercise of warrants	4,000,000
Market price of the Companybs common stock on the measurement dates, min	0.07
Market price of the Companybs common stock on the measurement dates, max	0.08
Exercise price	0.125
Risk free interest rate range (1), min	0.37%	[1]
Risk free interest rate range (1), max	0.38%	[1]
Dividend yield	0.00%
Volatility range, min	257.60%
Volatility range, max	259.63%
Expected exercise term in years	'1 year 6 months
Warrant 4	'
Common stock issuable upon exercise of warrants	2,125,000
Market price of the Companybs common stock on the measurement dates, min	0.05
Exercise price	0.06
Risk free interest rate range (1), min	0.37%	[1]
Dividend yield	0.00%
Volatility range, min	295.28%
Expected exercise term in years	'2 years
[1]	The risk-free interest rate was determined by management using the 3-year and the average of the 3- and 5-year Treasury Bill as of October 31, 2013 and January 31, 2013.

8_DERIVATIVE_LIABILITIES_Detai1

8. DERIVATIVE LIABILITIES (Details 1) (USD $)	Oct. 31, 2013	Jan. 31, 2013
Derivative Liabilities Details 1	'	'
Common stock issuable upon exercise of warrants	41,671,195	41,671,195
Market price of the Companybs common stock on the measurement dates	$0.00	$0.01
Exercise price range, min	$0.03	$0.03
Exercise price range, max	$0.06	$0.06
Risk free interest rate range (1), min	0.31%	0.42%
Risk free interest rate range (1), max	0.76%	0.65%
Dividend yield	0.00%	0.00%
Volatility range, min	326.14%	306.62%
Volatility range, max	351.69%	327.98%
Expected exercise term in years, min	'2 years 1 month 20 days	'2 years 10 months 20 days
Expected exercise term in years, max	'3 years 4 months 17 days	'4 years 1 month 13 days

9_FAIR_VALUE_MEASUREMENTS_Deta

9. FAIR VALUE MEASUREMENTS (Details) (USD $)	Oct. 31, 2013	Jan. 31, 2013
Derivative liability	$141,065	$327,661
Fair Value, Inputs, Level 1 [Member]	'	'
Derivative liability	'	'
Fair Value, Inputs, Level 2 [Member]	'	'
Derivative liability	'	'
Fair Value, Inputs, Level 3 [Member]	'	'
Derivative liability	$141,065	$327,661

9_FAIR_VALUE_MEASUREMENTS_Deta1

9. FAIR VALUE MEASUREMENTS (Details 1) (USD $)	9 Months Ended
	Oct. 31, 2013	Oct. 31, 2012
Fair Value Measurements Details 1	'	'
Derivative liabilities - beginning balance at January 31, 2013 and 2012	$327,661	$1,817,100
Additions	'	101,985
Reductions	'	'
Change in fair value	-186,596	-1,839,763
Derivative liabilities - ending balance at October 31, 2013 and 2012	141,065	79,322
Realized and unrealized gain (loss) on derivatives, net, included in earnings for the nine-month periods ended October 31, 2013 and 2012	$186,596	$1,839,763

10_STOCKBASED_COMPENSATION_Det

10. STOCK-BASED COMPENSATION (Details) (USD $)	9 Months Ended
	Oct. 31, 2013
Stock-Based Compensation Details	'
Market price of the Companybs common stock on grant date	$0.09
Risk free interest rate (1)	3.01%	[1]
Dividend yield	0.00%
Volatility	259.13%
Expected life	'6 years
Expected forfeiture rate	0.00%
[1]	The risk-free interest rate was determined by management using the 10-year Treasury Bill yield as of the grant date.