Goldrich Mining (GRMC) 10-Q 19 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Aug. 18, 2014	Jun. 30, 2014
		Preferred Class A	Convertible Preferred Stock	Common Class A	Nonredeemable Convertible Preferred Stock
Entity Registrant Name	'Goldrich Mining Company	'	'	'	'
Document Type	'10-Q	'	'	'	'
Document Period End Date	30-Jun-14	'	'	'	'
Amendment Flag	'false	'	'	'	'
Entity Central Index Key	'0000059860	'	'	'	'
Current Fiscal Year End Date	'--12-31	'	'	'	'
Entity Common Stock, Shares Outstanding	'	8,999,800	175,000	123,382,809	200
Entity Filer Category	'Smaller Reporting Company	'	'	'	'
Entity Current Reporting Status	'Yes	'	'	'	'
Entity Voluntary Filers	'No	'	'	'	'
Entity Well-known Seasoned Issuer	'No	'	'	'	'
Document Fiscal Year Focus	'2014	'	'	'	'
Document Fiscal Period Focus	'Q2	'	'	'	'

Goldrich_Mining_CompanyAn_Expl

Goldrich Mining Company(An Exploration Stage Company) Consolidated Balance Sheets (Interim period unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$801,749	$16,993
Prepaid expenses	87,415	58,780
Deferred financing costs	46,386	23,632
Other current assets	52,819	52,819
Total current assets	988,369	152,224
Property, plant, equipment, and mining claims:	'	'
Equipment, net of accumulated depreciation	172,892	273,550
Mining properties and claims	582,166	582,166
Total property, plant, equipment and mining claims	755,058	855,716
Other assets:	'	'
Investment in joint venture	55,300	55,300
Total other assets	55,300	55,300
Total assets	1,798,727	1,063,240
Current liabilities:	'	'
Accounts payable and accrued liabilities	345,460	516,178
Related party deferred compensation	40,000	115,000
Related party payable	89,155	115,894
Notes payable in gold, net	764,217	701,729
Dividend payable on preferred stock	22,083	22,083
Total current liabilities	1,260,915	1,470,884
Long-term liabilities:	'	'
Note payable, net of discount	245,266	'
Remediation liability and asset retirement obligation	641,566	635,850
Total long-term liabilities	886,832	635,850
Total liabilities	2,147,747	2,106,734
Stockholders' deficit:	'	'
Preferred stock; no par value, 8,999,800 shares authorized; no shares issued or outstanding	0	0
Convertible preferred stock series A; 5% cumulative dividends, no par value, 1,000,000 shares authorized; 175,000 shares issued and outstanding, respectively, $350,000 liquidation preferences	175,000	175,000
Convertible preferred stock series B; no par value, 300 shares authorized, 200 shares issued and outstanding, $200,000 liquidation preference	57,758	'
Common stock; $.10 par value, 200,000,000 shares authorized; 118,565,719 and 95,656,719 issued and outstanding, respectively	11,856,572	9,565,672
Additional paid-in capital	13,750,033	14,724,619
Deficit accumulated during the exploration stage	-26,188,383	-25,508,785
Total stockholders' deficit	-349,020	-1,043,494
Total liabilities and stockholders' deficit	$1,798,727	$1,063,240

Statement_of_Financial_Positio

Statement of Financial Position - Parenthetical (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of financial position	'	'
Preferred Stock, Par Value	$0	$0
Preferred Stock, Shares Authorized	8,999,800	9,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Convertible preferred stock series A, no par value, 5% cumulative dividends, shares authorized	1,000,000	1,000,000
Convertible preferred stock series A, shares issued	175,000	175,000
Convertible preferred stock series A, shares outstanding	175,000	175,000
Liquidation preference	$350,000	$350,000
Convertible preferred stock series B, no par value, shares authorized	300	'
Convertible preferred stock series B, shares issued	200	'
Convertible preferred stock series B, shares outstanding	200	'
Liquidation preference, additional series	$200,000	'
Common Stock, Par Value	$0.10	$0.10
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares Issued	118,565,719	95,656,719
Common Stock, Shares Outstanding	118,565,719	95,656,719

Goldrich_Mining_Company_An_Exp

Goldrich Mining Company (An Exploration Stage Company) Consolidated Statements of Operations (unaudited) (USD $)	3 Months Ended		6 Months Ended		663 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Income earned during the exploration stage:	'	'	'	'	'
Gold sales and other	'	'	'	'	$2,542,079
Cost of gold sales	'	'	'	'	-1,858,843
Gross profit on gold sales	'	'	'	'	683,236
Operating expenses:	'	'	'	'	'
Mine preparation costs	24,581	28,163	44,754	45,559	1,566,901
Exploration expense	20,199	4,107	31,081	11,009	8,522,751
Management fees and salaries	56,688	57,350	125,656	159,938	3,844,431
Professional services	20,480	15,033	64,922	55,006	2,337,288
Other general and admin expense	61,886	72,519	129,004	122,704	2,872,141
Office supplies and other expense	3,721	3,021	7,081	5,586	452,503
Directors' fees	10,100	3,100	25,400	17,800	873,375
Mineral property maintenance	16,988	13,619	33,975	27,237	405,554
Depreciation	47,413	61,678	99,193	129,251	2,236,761
Reclamation and miscellaneous	'	'	'	596	434,680
Loss on partnership venture	'	'	'	'	53,402
Equipment repairs	'	'	'	'	25,170
Loss on disposal of mining properties and equipment	1,465	'	1,465	'	473,850
Total operating expenses	263,521	258,590	562,531	574,686	24,098,807
Other (income) expense:	'	'	'	'	'
Gain on legal judgment	'	'	'	'	-127,399
Royalties, net	'	'	'	'	-398,752
Lease and rental	'	'	'	'	-99,330
Interest income	-15	-2,486	-27	-7,335	-307,707
Interest expense and finance costs	61,840	37,230	117,095	48,714	1,686,448
Loss on settlement of debt	'	'	'	'	1,946,684
Loss (gain) on foreign currency translation	'	'	'	-605	72,868
Total other (income) expense	61,825	34,744	117,068	40,774	2,772,812
Net loss	325,346	293,334	679,599	615,460	26,188,383
Preferred dividends	2,212	2,212	54,399	4,907	'
Net loss available to common stockholders	$327,558	$295,546	$733,998	$620,367	'
Net loss per common share - basic and diluted	$0	$0	$0.01	$0.01	'
Weighted average common shares outstanding-basic and diluted	102,808,122	95,506,719	102,199,596	95,506,719	'

Goldrich_Mining_Company_An_Exp1

Goldrich Mining Company (An Exploration Stage Company) Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended		663 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Cash flows from operating activities:	'	'	'
Net loss	($679,599)	($615,460)	($26,188,383)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'	'
Depreciation and amortization	99,193	129,251	2,243,606
Loss on disposal of equipment and mining property	1,465	'	473,850
Stock based compensation	0	40,275	1,735,241
Compensation paid with equipment	'	'	7,446
Common stock issued for interest	'	'	196,110
Amortization of discount on note receivable	'	-7,320	-21,057
Amortization of discount on note payable and notes payable in gold	70,747	36,109	945,091
Amortization of discount on convertible debenture for beneficial conversion feature	'	'	150,000
Amortization of deferred financing costs	21,873	6,953	172,383
Gold delivered to satisfy notes payable	'	'	-273,974
Gold delivered in exchange for equipment	'	'	-10,966
Loss on settlement of debt	'	'	1,946,684
Accretion of asset retirement obligation	5,716	5,498	37,448
Change in:	'	'	'
Prepaid expenses	-28,635	714	-87,416
Other current assets	'	12	-52,819
Accounts payable and accrued liabilities	-170,718	-124,004	408,494
Related party payable	-26,739	10,041	67,718
Related party deferred compensation	-75,000	6,000	40,000
Accrued commission payable	'	'	277,523
Convertible success award, Walters LITS	'	'	88,750
Accrued remediation costs	'	'	355,000
Net cash used - operating activities	-781,697	-511,931	-17,489,271
Cash flows from investing activities:	'	'	'
Receipts attributable to unrecovered promotional, exploratory, and development costs	'	'	626,942
Funds advanced by Nyac in equipment purchase	'	'	244,475
Investment in joint venture - Goldrich Nyac Placer, LLC	'	'	-1,000
Payment received from receivable for equipment sale	'	284,629	379,505
Proceeds from the sale of equipment	'	'	64,874
Purchases of equipment, and unrecovered promotional and exploratory costs	'	'	-2,352,402
Additions to mining properties and claims - direct costs for claim staking and acquisition	'	'	-536,366
Net cash used - investing activities	'	284,629	-1,573,972
Cash flows from financing activities:	'	'	'
Proceeds from related party debt	'	'	121,000
Payments on related party debt	'	-21,000	-121,000
Proceeds from issuing convertible debenture, net	'	'	900,000
Proceeds from issuance of common stock in connection with exercise of options and warrants	'	'	3,101,498
Proceeds from issuance of common stock and warrants,net of offering costs	1,135,964	'	14,124,408
Proceeds from notes payable in gold, net	'	571,352	2,356,389
Payments on notes payable in gold	'	'	-190,941
Purchase of gold to satisfy notes payable in gold	'	'	-358,641
Proceeds on note payable and warrants	285,000	'	285,000
Proceeds from issuance of preferred stock	200,000	'	675,000
Financing costs of notes payable	-54,511	'	-54,511
Payments on capital leases and equipment notes payable	'	'	-965,036
Acquisitions of treasury stock	'	'	-8,174
Net cash provided - financing activities	1,566,453	550,352	19,864,992
Net increase in cash and cash equivalents	784,756	323,050	801,749
Cash and cash equivalents, beginning of period	16,993	44,395	'
Cash and cash equivalents, end of period	801,749	367,445	801,749
Supplemental disclosures of cash flow information:	'	'	'
Cash paid for interest	19,110	'	181,728
Non-cash investing and financing activities:	'	'	'
Mining claims purchased - common stock	'	'	43,000
Additions to property, plant and equipment acquired through capital lease and notes payable	'	'	1,240,988
Additions to property, plant, and equipment paid in gold	'	'	10,966
Debt assumed by purchaser or equipment	'	'	276,020
Receivable from purchaser of equipment	'	'	379,505
Issuance of options for investment in joint venture	'	'	54,300
Accounts payable satisfied with equipment	'	'	10,000
Related party liability converted to common stock	'	'	301,086
Issuance of warrants for deferred financing costs of convertible debenture	'	'	30,000
Issuance of common stock upon conversion of convertible debenture	'	'	1,000,000
Issuance of common stock upon conversion of preferred shares	'	'	300,000
Issuance of common stock upon conversion of notes payable in gold	'	'	3,458,794
Issuance of common stock for finder fees	'	'	149,640
Warrants issued with notes payable in gold	'	7,590	116,818
Notes payable satisfied with gold	'	'	632,615
Capital lease satisfied with equipment notes payable	'	'	335,190
Dividend payable on preferred stock	'	'	$22,083

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Notes	'
Basis of Presentation and Significant Accounting Policies	'
	1.   BASIS OF PRESENTATION
	The unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three and six-month periods ended June 30, 2014 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2014.
	For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
	Cash and Cash Equivalents
	For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent. Cash or cash equivalents which secure debt instruments, credit facilities, reclamation or environmental bonds, or that are otherwise limited or restricted in their usage, are reported separately and not included in cash and cash equivalents.
	Consolidation of and Accounting for Subsidiaries
	The consolidated financial statements include the accounts of the Company and the accounts of its 100% owned subsidiaries Minera LSG S.A. and Goldrich Placer, LLC. These subsidiaries are included in the accompanying financial statements by consolidation of the Statements of Operations and the Balance Sheets as of June 30, 2014 and December 31, 2013 with all intercompany balances and investment accounts eliminated.
	Accounting for Investments in Joint Ventures
	For joint ventures in which the Company does not have joint control or significant influence, the cost method is used. Under the cost method, these investments are carried at the lower of cost or fair value. For those joint ventures in which there is joint control between the parties and in which the Company has significant influence, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount. Goldrich has no significant influence over its joint venture described in Note 6 Joint Venture, and therefore accounts for its investment using the cost method.
	For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of a non-controlling interest. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee. Goldrich currently has no joint venture of this nature.
	Net Loss Per Share
	Basic EPS is computed as net income available to common shareholders after dividends to preferred shareholders, divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options, warrants, and other convertible debt and securities. The dilutive effect of vested convertible and exercisable securities would be:
		June 30,	June 30,
	For periods ended	2014	2013
	Convertible preferred stock Series A	1,050,000	1,050,000
	Convertible preferred stock Series B	2,857,142	-
	Stock options	3,305,000	3,165,000
	Warrants	48,336,816	33,849,630
	Total possible dilution	55,548,958	38,064,630
	For the three and six-month periods ended June 30, 2014 and 2013, the effect of the Company’s outstanding options and common stock equivalents would have been anti-dilutive.
	New Accounting Pronouncements
	In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-10 (“the ASU”). This update changes the requirements for disclosures as it relates to exploration stage entities. The ASU specifies that the ‘inception-to-date’ information is no longer required to be presented in the financial statements of an exploration stage entity. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2014 and interim periods therein, with early application permitted for any financial statements that have not yet been issued. The Company has elected to apply the amendments effective with the third quarter of 2014.
	Reclassifications
	Certain reclassifications have been made to conform prior periods’ presentation to the current presentation. These reclassifications have no effect on the results of operations or stockholders’ deficit.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Significant estimates used in preparing these financial statements include those assumed in estimating the recoverability of the cost of mining claims, accrued remediation costs, stock based compensation, discount on debt, deferred financing costs, and deferred tax assets and related valuation allowances. Actual results could differ from those estimates.
	Fair Value Measures
	Our financial instruments other than cash consist principally of notes payable in gold and notes payable. These instruments do not require recurring re-measurement at fair value.

2_Going_Concern

2. Going Concern	6 Months Ended
	Jun. 30, 2014
Notes	'
2. Going Concern	'
	2.    GOING CONCERN
	The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company is an exploration stage company and has incurred losses since its inception. The Company does not have sufficient cash to fund normal operations and meet debt obligations for the next 12 months without deferring payment on certain current liabilities and/or raising additional funds.
	During the six-months ended June 30, 2014, the Company raised $1,135,964 net cash from the sale of 22,909,000 common shares to be issued, $200,000 net cash from the sale of 200 shares of Series B Preferred Stock, and $230,489 net cash from the issuance of a note payable. The Company believes that the going concern condition cannot be removed with confidence until the Company has entered into a business climate where funding of its activities is more assured.
	The Company currently has no historical recurring source of revenue and its ability to continue as a going concern is dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements or its ability to profitably execute its business plan. The Company’s plans for the long-term return to and continuation as a going concern include the profitable exploitation of its mining properties and financing the Company’s future operations through sales of its common stock and/or debt.
	Additionally, the current capital markets and general economic conditions in the United States are significant obstacles to raising the required funds. These factors raise substantial doubt about the Company’s ability to continue as a going concern.
	On October 10, 2013, the Company reported Goldrich NyacAU Placer, LLC (“GNP”) had completed preparations for initial production and had produced approximately 680 ounces of gold during the construction of the mine before closing out the 2013 season. There is no production currently planned for the 2014 season. Plant expansion is scheduled to be completed in stages through 2016. A successful mining operation may provide the long-term financial strength for the Company to remove the going concern condition in future years. See Note 6 Joint Venture.
	The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. If the going concern basis were not appropriate for these financial statements, adjustments would be necessary in the carrying value of assets and liabilities, the reported expenses and the balance sheet classifications used.

3_Related_Party_Transactions

3. Related Party Transactions	6 Months Ended
	Jun. 30, 2014
Notes	'
3. Related Party Transactions	'
	3.    RELATED PARTY TRANSACTIONS
	Beginning in October 2012, this Company’s President and Chief Executive Officer (“CEO”) elected to defer a portion of his salary until the Company is successful in securing financing sufficient to fund future operations. An amount of $40,000 has been deferred and is recorded as related party deferred compensation at June 30, 2014.
	A total of $11,338 interest is payable at June 30, 2014 to the Company’s former Chief Operating Officer in connection with the settlement of notes payable in gold settled in 2011. These amounts are included in related party payable.
	An amount of $24,427 has been accrued for fees due to the Company’s Chief Financial Officer for services performed during the six months ended June 30, 2014. This amount is included in related party payable.
	A total of $87,900 had been accrued for directors’ fees at December 31, 2013. For the six months ended June 30, 2014, $59,910 has been paid and an additional $25,400 has been accrued for services performed during the period, for a total of $53,390, which is included in related party payable.

4_Notes_Payable_in_Gold

4. Notes Payable in Gold	6 Months Ended
	Jun. 30, 2014
Notes	'
4. Notes Payable in Gold	'
	4.   NOTES PAYABLE IN GOLD
	During 2013, the Company issued notes in principal amounts totaling $820,000, less a discount of $205,000, for proceeds of $615,000. Under the terms of the notes, the Company agreed to deliver gold produced by the Joint Venture (see Note 6 Joint Venture) to the holders at the lesser of $1,350 per ounce of fine gold or a 25% discount to market price as calculated on the contract date and specify delivery of gold in November 2014. The notes payable in gold contracts contain standard terms regarding delivery and receipt of gold and payment of delivery costs. The Company paid a finder fee of $42,000, and incurred other placement costs of $2,143, for a total of $44,143 of deferred finance costs.
	Additionally, for each dollar of note payable in gold entered into during 2013, the holder received one half of a common stock purchase warrant. Each whole warrant is exercisable to purchase one share of common stock of the Company at an exercise price of $0.40 for a period of two years following the date of issue.
	A portion of the cash proceeds from the notes were allocated to the warrants, resulting in an increase in additional paid in capital and a discount on the notes payable in gold of $7,590.
	The fair value of warrants issued with the notes payable in gold was estimated at the date of issuance using the Black-Scholes fair value model, which requires the use of highly subjective assumptions, including the expected volatility of the stock price, which may be difficult to estimate for small reporting companies traded on micro-cap stock exchanges. The fair value of the warrants was estimated on the issue date using the following weighted average assumptions:
	Risk-free interest rate	0.29%
	Expected dividend yield	--
	Expected term (in years)	2
	Expected volatility	138.50%
	The risk-free interest rate is based on the U.S. Treasury yield curve at the time of the grant. The expected term of warrants issued is from the date of issuance. The expected volatility is based on historical volatility. The Company has evaluated previous low occurrences of warrant forfeitures and believes that current holders of the warrants will hold them to maturity as has been experienced historically; therefore, no variable for forfeiture was used in the calculation of fair value.
	In the event that the Company’s shares of common stock trade in the United States at a closing price of greater than $1.00 per share for a period of 10 consecutive trading days at any time following the issuance of the warrants, the Company may, in its sole discretion, accelerate the expiration date of the warrants by giving written notice to the holders thereof, and in such case, the warrants will expire on the 20th business day after the date on which such notice is given by the Company.
	At June 30, 2014, the Company had outstanding total notes payable in gold of $820,000 less unamortized discounts of $55,783 for a net liability of $764,217, representing 511.193 ounces of fine gold deliverable at November 30, 2014.

5_Note_Payable

5. Note Payable	6 Months Ended
	Jun. 30, 2014
Notes	'
5. Note Payable	'
	5.         NOTE PAYABLE
	On January 24, 2014, the Company closed a three-year unsecured senior note financing for $300,000 with a private investment firm. Per the note agreement, the $300,000 is the first of six-staged loans for total aggregate proceeds of $2 million. The note bears interest at 15%, payable at the end of each quarter. Interest of $19,110 had been expensed during the six months ended June 30, 2014.
	Repayment of all amounts owed under the note is guaranteed by Goldrich Placer LLC, the Company’s wholly owned subsidiary, which in turn owns a 50% interest in Goldrich NyacAU Placer LLC. See Note 6 Joint Venture.
	The note contains standard default provisions, including failure to pay interest and principal when due. If the lender has fully funded loans 1 through 4 as outlined below, then upon the occurrence of any event of default as defined in the agreement, until such time as the earlier of either (i) the event of default has been cured in the reasonable judgment of the Lender as evidenced in writing or (ii) all amounts due and payable under the note are paid in full pursuant to the terms hereof, any amounts owing hereunder shall bear an applicable rate equal to twenty percent (20%) per annum and shall be immediately due and payable to lender upon lender’s written demand to the Company.
	Under the terms of the note, the three-year maturity date is measured from the closing date of each loan in the series. The loans will be issued at a 5% discount and, for each loan of the series, the lender will be issued a pro rata amount of five-year Class M warrants totaling up to 10.5 million shares of common stock of the Company exercisable at $0.15 per common share. The Company has, at its election, the ability to cancel future loans at any time or prepay the loans together with interest thereon without penalty. The lender reserves the right, at its election, to determine whether to fund Loans 2 through 6 in the series. The Company will pay finder fees consisting of a 3% cash commission and warrants to purchase shares of common stock of the Company equal to 8% of each loan (160,000 warrants through June 30, 2014), of which 1% of the cash commission and 3% of the warrants will be paid to a director of the Company. The terms of the warrants will be the same as the warrants issued to the lender.
	The loans are scheduled to be made as follows:
	Loan Number	Date of Loan:	Amount of Loan:	Pro Rata Warrants to Lender
	1	29-Jan-14	$300,000	1,575,000
	2	28-Feb-14	$200,000	1,050,000
	3	30-Mar-14	$300,000	1,575,000
	4	29-Apr-14	$200,000	1,050,000
	5	30-Jun-14	$500,000	2,625,000
	6	30-Sep-14	$500,000	2,625,000
	TOTAL		$2,000,000	10,500,000
	During the six-months ended June 30, 2014, the Company received the first staged loan of $300,000 less a discount of $15,000, for proceeds of $285,000. The Company issued 1,735,000 Class M warrants, paid finder fees totaling $9,000, and incurred other placement costs of $45,511, for a total of $54,511 of deferred finance costs.
	The fair value of warrants issued with the notes payable in gold was estimated at the date of issuance using the Black-Scholes fair value model, which requires the use of highly subjective assumptions, including the expected volatility of the stock price, which may be difficult to estimate for small reporting companies traded on micro-cap stock exchanges.
	The fair value of the warrants was estimated on the issue date using the following weighted average assumptions:
	Risk-free interest rate		1.52%
	Expected dividend yield		0
	Expected term (in years)		5
	Expected volatility		157.10%
	The risk-free interest rate is based on the U.S. Treasury yield curve at the time of the grant. The expected term of warrants issued is from the date of issuance. The expected volatility is based on historical volatility. The Company has evaluated previous low occurrences of warrant forfeitures and believes that current holders of the warrants will hold them to maturity as has been experienced historically; therefore, no variable for forfeiture was used in the calculation of fair value. The Note payable was discounted by the fair value of the warrants, which is being amortized over the life of the note.
	At June 30, 2014, the Company had outstanding total notes payable of $300,000 less unamortized discounts of $54,734 for a net liability of $245,266. The holder of the note payable contract elected to defer at least the second through the fifth tranches of the note advances pending the resolution and additional due diligence related to a lien that was placed on our claims in December by our joint venture partner, which were subsequently released during the quarter ended March 31, 2014.

6_Joint_Ventures

6. Joint Ventures	6 Months Ended
	Jun. 30, 2014
Notes	'
6. Joint Ventures	'
	6.   JOINT VENTURE
	On May 7, 2012, the Company entered into a joint venture (“the JV”) with NyacAU, LLC (“NyacAU”), an Alaskan private company, to bring Goldrich’s Chandalar placer gold properties into production. In each case as used herein in reference to the JV, ‘production’ is as defined by the JV agreement. As part of the agreement, Goldrich and NyacAU formed a 50:50 joint venture company, Goldrich NyacAU Placer LLC (“GNP”), to operate the Chandalar placer mines, with NyacAU acting as managing partner. Goldrich has no significant control or influence over the JV, and therefore accounts for its investment using the cost method.
	Under the terms of the joint venture agreement (the “Agreement”), NyacAU provided funding to the JV. The loans are to be repaid from future production. Once all loans have been repaid and working capital and budgeted reserves have been established, profits from the placer production will be paid out on a 50:50 basis to each of the JV partners. NyacAU’s funding to the JV is anticipated to be sufficient in amount to bring the placer deposits at Chandalar into commercial production.
	In addition to the funding of the JV, NyacAU also purchased equipment owned by Goldrich at a discount, netting $900,000 to the Company, prior to discount (see Note 7 Receivable for Equipment Sale). NyacAU also purchased 2,364,864 shares of Goldrich common stock for $350,000 ($0.148 per share) during the quarter ended June 30, 2012, in accordance with the agreement.

7_Receivable_For_Equipment_Sal

7. Receivable For Equipment Sale	6 Months Ended
	Jun. 30, 2014
Notes	'
7. Receivable For Equipment Sale	'
	7.   RECEIVABLE FOR EQUIPMENT SALE
	In the fourth quarter of 2012, the Company entered into an agreement to sell certain equipment to a leasing company owned by the owner of the joint venture partner of GNP (see Note 6 Joint Venture), under which equipment with a net book value of $1,130,593 was sold to the leasing company for $878,943, net of $21,057 of discounts for implicit interest at 7% on the note. The note requires monthly principal payments of $47,438, with the balance of the note due in July 2013. The Company recognized a loss on the sale of this equipment of $251,717 in 2012. The purchaser advanced cash of $244,475, assumed debt totaling $276,020 and entered into a receivable from equipment of 379,505. The Company received a cash payment of $47,438 during the year ended December 31, 2012, and $332,067 during the year ended December 31, 2013.

8_Stockholders_Equity

8. Stockholders' Equity	6 Months Ended
	Jun. 30, 2014
Notes	'
8. Stockholders' Equity	'
	8.   STOCKHOLDERS’ EQUITY
	Private Placements
	On June 6, 2014, the Company completed the first tranche of a private placement of its common stock and warrants to purchase shares of its common stock. This tranche of the private placement consisted of 14,208,637 units to be issued at a price of $0.055 per unit and resulted in net proceeds to the Company of $703,004. Each unit consists of one share of the Company’s common stock and one half of a Class N warrant. Each full Class N warrant is exercisable to purchase one additional common share of the Company at $0.11, for a period of five years following the date of issue. Of the units to be issued in this tranche, officers and directors of the Company purchased 481,819 units, contributing $26,500 of the total proceeds. Such units were purchased on the same terms and conditions as the purchase of units by other investors in the private placement.
	On June 30, 2014, the Company completed the second tranche of a private placement of its common stock and warrants to purchase shares of its common stock. This tranche of the private placement consisted of 8,700,363 units to be issued at a price of $0.055 per unit and resulted in net proceeds to the Company of approximately $432,960. Of the units to be issued in this tranche, officers and directors of the Company purchased 833,545 units, contributing $45,845 of the total proceeds. Such units were purchased on the same terms and conditions as the purchase of units by other investors in the private placement.
	On January 23, 2014, the Company completed the offer and sale of 200 shares of Series B Preferred stock in the Company, resulting in net proceeds of $200,000 to the Company. These shares were issued from the designated 9,000,000 share of Preferred Stock, par value as the Board may determine.
	In connection with the issuance of the Series B Preferred Stock, the Company issued 2,857,142 five-year Class L warrants with an exercise price of $0.10 per share of the Company’s common stock with a fair value of $92,242 as determined using a Black Scholes model and allocation between the preferred shares and the warrants as prescribed by ASC 470. Additionally, after accounting for the fair value of the warrant, a beneficial conversion feature of $50,000 was determined to exist, which represented a deemed dividend to the holder of the preferred shares recognizable immediately upon issue due to the ability to convert the shares concurrent with issuance of the preferred shares. Both the fair value of the warrants and the beneficial conversion feature were charged to Additional paid in capital at the date of issuance.
	The fair value of the warrants was estimated on the issue date using the following weighted average assumptions:
	Risk-free interest rate		1.62%
	Expected dividend yield		--
	Expected term (in years)		5
	Expected volatility		157.00%
	The Series B Convertible Preferred Shares carry the following rights and preferences:
	•            Liquidation Preference: Upon a liquidation event, each holder of outstanding shares of Series B Stock shall be entitled to be paid out of the assets of the Company available for distribution to stockholders, whether such assets are capital, surplus or earnings and before any amount shall be paid or distributed to the holders of any class of the Company’s common stock, par value $0.10 per share (the “Common Stock”), or of any other stock ranking on liquidation junior to the Series B Stock, an amount in cash equal to $1,000 per share (adjusted appropriately for stock splits, stock dividends and the like) (the “Series B Liquidation Amount”), payable pari passu with the preference with any other securities ranking equal in liquidation preference; provided, however, that if upon any liquidation event, the amounts payable with respect to the Series B Stock are not paid in full, the holders of the Series B Stock shall share ratably in any distribution of assets in proportion to the full respective preferential amounts to which they are entitled. Holders of the Company’s Series A Preferred Stock shall be paid in advance of holders of Series B Stock on the occurrence of a liquidation event.
	•            Voting: Each holder of Series B Stock shall be entitled to vote on all matters upon which holders of Common Stock would be entitled to vote and shall be entitled to that number of votes equal to the number of whole shares of Common Stock into which such holder’s shares of Series B Stock could be converted under Section 4, at the record date for the determination of stockholders entitled to vote on such matter, or, if no such record date is established, at the day before the first notice of the meeting of stockholders at which the vote is to be taken is delivered to stockholders, or the date any written consent of stockholders is solicited if the vote is not to be taken at a meeting. Each such holder shall be entitled to notice of any stockholders’ meeting in accordance with the Company’s Bylaws. Except as otherwise expressly provided in the Company’s Articles of Incorporation, by the Alaska Code or the Certificate of Designation, the holders of shares of Series B Stock shall vote together as a single class with the Common Stock on an as-if-converted basis on all matters.
	•            Conversion: Any share of Series B Preferred Stock may, at the option of the holder be converted at any time into such number of fully-paid and non-assessable shares of Common Stock as is equal to the product obtained by multiplying the Series B Conversion Rate ($1000.00 divided by the Series B Conversion Price of $0.07 per share) by the number of shares of Series B Stock being converted.
	•            Right to Participate: The Company grants to each holder of Series B Stock the right to participate in any offerings of the Company’s Common Shares or securities convertible into or exercisable to obtain Common Shares (“Participation Securities”) where the price per Common Share (including on an as converted or exercised basis, as applicable) is less than $0.07 for a three-year period beginning on the Closing Date.
	Warrants:
	The following is a summary of warrants outstanding at June 30, 2014:
		Shares	Exercise		Expiration Date
			Price ($)
	Class G Warrants: (for Private Placement)
	Outstanding and exercisable at January 1, 2013	4,169,850		0.36	Dec. 31, 2014 (1)
	Outstanding and exercisable at December 31, 2013	4,169,850
	Outstanding and exercisable at June 30, 2014	4,169,850
	Class H Warrants: (Issued for Private Placement)
	Outstanding and exercisable at January 1, 2013	5,125,936		0.3	31-May-16
	Outstanding and exercisable at December 31, 2013	5,125,936
	Outstanding and exercisable at June 30, 2014	5,125,936
	Class I Warrants: (Issued for Private Placement)
	Outstanding and exercisable at January 1, 2013	13,906,413		0.4	31-May-16
	Outstanding and exercisable at December 31, 2013	13,906,413
	Outstanding and exercisable at June 30, 2014	13,906,413
	Class J Warrants: (Issued for Private Placement)
	Outstanding and exercisable at January 1, 2013	8,780,478		0.3	29-Jul-16
	Outstanding and exercisable at December 31, 2013	8,780,478
	Outstanding and exercisable at June 30, 2014	8,780,478
	Class K Warrants: (Issued for Notes payable in gold)
	Warrants issued March 29, 2013	307,500		0.4	29-Mar-15
	Outstanding and exercisable at December 31, 2013	307,500
	Outstanding and exercisable at June 30, 2014	307,500
	Class L Warrants: (Issued for Private Placement of Preferred Stock)
	Warrants issued January 23, 2014	2,857,142		0.1	23-Jan-19
	Outstanding and exercisable at June 30, 2014	2,857,142
	Class M Warrants: (Issued for Note Payable)
	Warrants issued January 29, 2014	1,735,000		0.15	29-Jan-19
	Outstanding and exercisable at June 30, 2014	1,735,000
	Class N Warrants: (Issued for Private Placement)
	Warrants issued June 6, 2014	7,104,317		0.11	6-Jun-19
	Warrants issued June 30, 2014	4,350,180		0.11	30-Jun-19
	Outstanding and exercisable at June 30, 2014	11,454,497
	Weighted average exercise of warrants outstanding and weighted average exercise price at June 30, 2014	48,336,816		0.27
	(1)                   In February 2013, the expiration dates of the Class G warrants were extended by one year, all of which will expire during December of 2014. No other terms were modified.
	Stock-Based Compensation:
	During 2013, the Company issued 25,000 options to an employee. The fair value of these options was determined using a Black Scholes model, resulting in a total fair value of $2,700 for these options. The fair value of the options was estimated on the issue date using the following weighted average assumptions:
	Risk-free interest rate		1.75%
	Expected dividend yield		--
	Expected term (in years)		10
	Expected volatility		142.40%
	In 2009, the Company issued 750,000 options to the President and CEO for a term of five-years. On February 20, 2013, the board voted to cancel the options and issue new options at the same exercise price of $0.405 to effectively extend to a total of 10-years with the same strike price. This resulted in an additional fair value of $37,575 for these options.
		Options	Weighted Average
			Exercise Price
	Outstanding at December 31, 2013	3,315,000	$     0.28
	Issued	-	-
Canceled/Forfeited	-10,000	0.29
Outstanding at June 30, 2014	3,305,000	$    0.28
For the six-month periods ended June 30, 2014 and 2013, the Company recognized share-based compensation for employees of $nil and $40,275, respectively.

9_Commitments_and_Contingencie

9. Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Notes	'
9. Commitments and Contingencies	'
	9.   COMMITMENTS AND CONTINGENCIES
	The Company has 426.5 acres of patented claims and 22,432 acres of non-patented claims. We are subject to annual claims rental fees in order to maintain our non-patented claims. In addition to the annual claims rental fees due November 30 of each year, we are also required to meet annual labor requirements due November 30 of each year. The Company is able to carry forward costs for annual labor that exceed the required yearly totals for four years.
	Following are the annual claims and labor requirements for 2014 and 2015.
		30-Nov-14	30-Nov-15
	Claims Rental	$                   69,350	$                    83,570
	Annual Labor	61,100	61,100
	Yearly Totals	$                 130,450	$                  144,670
	The Company has a carryover to 2014 of approximately $14.3 million to satisfy its annual labor requirements. This carryover expires in the years 2014 through 2019 if unneeded to satisfy requirements in those years.

10_Subsequent_Events

10. Subsequent Events	6 Months Ended
	Jun. 30, 2014
Notes	'
10. Subsequent Events	'
	10. SUBSEQUENT EVENTS
	On July 18, 2014, Goldrich Mining Company completed the third and final tranche of its private placement financing. In total the Company raised gross proceeds of $1,524,000 through the issuance of 27,726,090 units at a price of $0.055 per unit. Officers and directors of the Company took part in the offering, purchasing a total of 1,424,454 units under the same terms and conditions as units purchased by other investors in the private placement. The placement agent for the Offering was paid a sales commission of 8% of gross proceeds raised from the Offering, placement agent warrants equal to 10% of the total units sold, and expenses equal to 2% of the gross proceeds of the securities sold in the offering. Each placement agent warrant is exercisable to purchase one share of common stock of the Company at $0.055 and shall be exercisable for five years.

Basis_of_Presentation_and_Sign1

Basis of Presentation and Significant Accounting Policies: Cash and Cash Equivalents (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	For the purposes of the balance sheet and statement of cash flows, the Company considers all highly liquid investments with a maturity of three months or less when purchased to be a cash equivalent. Cash or cash equivalents which secure debt instruments, credit facilities, reclamation or environmental bonds, or that are otherwise limited or restricted in their usage, are reported separately and not included in cash and cash equivalents.

Basis_of_Presentation_and_Sign2

Basis of Presentation and Significant Accounting Policies: Consolidation of and Accounting For Subsidiaries (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Consolidation of and Accounting For Subsidiaries	'
	Consolidation of and Accounting for Subsidiaries
	The consolidated financial statements include the accounts of the Company and the accounts of its 100% owned subsidiaries Minera LSG S.A. and Goldrich Placer, LLC. These subsidiaries are included in the accompanying financial statements by consolidation of the Statements of Operations and the Balance Sheets as of June 30, 2014 and December 31, 2013 with all intercompany balances and investment accounts eliminated.

Basis_of_Presentation_and_Sign3

Basis of Presentation and Significant Accounting Policies: Accounting For Investments in Joint Ventures (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Accounting For Investments in Joint Ventures	'
	Accounting for Investments in Joint Ventures
	For joint ventures in which the Company does not have joint control or significant influence, the cost method is used. Under the cost method, these investments are carried at the lower of cost or fair value. For those joint ventures in which there is joint control between the parties and in which the Company has significant influence, the equity method is utilized whereby the Company’s share of the ventures’ earnings and losses is included in the statement of operations as earnings in joint ventures and its investments therein are adjusted by a similar amount. Goldrich has no significant influence over its joint venture described in Note 6 Joint Venture, and therefore accounts for its investment using the cost method.
	For joint ventures where the Company holds more than 50% of the voting interest and has significant influence, the joint venture is consolidated with the presentation of a non-controlling interest. In determining whether significant influence exists, the Company considers its participation in policy-making decisions and its representation on the venture’s management committee. Goldrich currently has no joint venture of this nature.

Basis_of_Presentation_and_Sign4

Basis of Presentation and Significant Accounting Policies: Net Loss Per Share (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Net Loss Per Share	'
	Net Loss Per Share
	Basic EPS is computed as net income available to common shareholders after dividends to preferred shareholders, divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options, warrants, and other convertible debt and securities. The dilutive effect of vested convertible and exercisable securities would be:
		June 30,	June 30,
	For periods ended	2014	2013
	Convertible preferred stock Series A	1,050,000	1,050,000
	Convertible preferred stock Series B	2,857,142	-
	Stock options	3,305,000	3,165,000
	Warrants	48,336,816	33,849,630
	Total possible dilution	55,548,958	38,064,630
	For the three and six-month periods ended June 30, 2014 and 2013, the effect of the Company’s outstanding options and common stock equivalents would have been anti-dilutive.

Basis_of_Presentation_and_Sign5

Basis of Presentation and Significant Accounting Policies: New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
New Accounting Pronouncements	'
	New Accounting Pronouncements
	In June 2014, the Financial Accounting Standards Board issued Accounting Standard Update No. 2014-10 (“the ASU”). This update changes the requirements for disclosures as it relates to exploration stage entities. The ASU specifies that the ‘inception-to-date’ information is no longer required to be presented in the financial statements of an exploration stage entity. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2014 and interim periods therein, with early application permitted for any financial statements that have not yet been issued. The Company has elected to apply the amendments effective with the third quarter of 2014.

Basis_of_Presentation_and_Sign6

Basis of Presentation and Significant Accounting Policies: Reclassifications (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Reclassifications	'
	Reclassifications
	Certain reclassifications have been made to conform prior periods’ presentation to the current presentation. These reclassifications have no effect on the results of operations or stockholders’ deficit.

Basis_of_Presentation_and_Sign7

Basis of Presentation and Significant Accounting Policies: Use of Estimates (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Significant estimates used in preparing these financial statements include those assumed in estimating the recoverability of the cost of mining claims, accrued remediation costs, stock based compensation, discount on debt, deferred financing costs, and deferred tax assets and related valuation allowances. Actual results could differ from those estimates.

Basis_of_Presentation_and_Sign8

Basis of Presentation and Significant Accounting Policies: Fair Value Measures (Policies)	6 Months Ended
	Jun. 30, 2014
Policies	'
Fair Value Measures	'
	Fair Value Measures
	Our financial instruments other than cash consist principally of notes payable in gold and notes payable. These instruments do not require recurring re-measurement at fair value.

Basis_of_Presentation_and_Sign9

Basis of Presentation and Significant Accounting Policies: Net Loss Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	'
		June 30,	June 30,
	For periods ended	2014	2013
	Convertible preferred stock Series A	1,050,000	1,050,000
	Convertible preferred stock Series B	2,857,142	-
	Stock options	3,305,000	3,165,000
	Warrants	48,336,816	33,849,630
	Total possible dilution	55,548,958	38,064,630

4_Notes_Payable_in_Gold_Fair_V

4. Notes Payable in Gold: Fair Value of Warrants Issued with Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Fair Value of Warrants Issued with Notes Payable	'
	Risk-free interest rate	0.29%
	Expected dividend yield	--
	Expected term (in years)	2
	Expected volatility	138.50%

5_Note_Payable_Schedule_of_Loa

5. Note Payable: Schedule of Loans (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Loans	'
	Loan Number	Date of Loan:	Amount of Loan:	Pro Rata Warrants to Lender
	1	29-Jan-14	$300,000	1,575,000
	2	28-Feb-14	$200,000	1,050,000
	3	30-Mar-14	$300,000	1,575,000
	4	29-Apr-14	$200,000	1,050,000
	5	30-Jun-14	$500,000	2,625,000
	6	30-Sep-14	$500,000	2,625,000
	TOTAL		$2,000,000	10,500,000

5_Note_Payable_Fair_Value_of_W

5. Note Payable: Fair Value of Warrants issued with notes payable, additional (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Fair Value of Warrants issued with notes payable, additional	'
	Risk-free interest rate	1.52%
	Expected dividend yield	0
	Expected term (in years)	5
	Expected volatility	157.10%

8_Stockholders_Equity_Fair_Val

8. Stockholders' Equity: Fair Value of Warrants issued series B preferred stock (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Fair Value of Warrants issued series B preferred stock	'
	Risk-free interest rate	1.62%
	Expected dividend yield	--
	Expected term (in years)	5
	Expected volatility	157.00%

8_Stockholders_Equity_Schedule

8. Stockholders' Equity: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Stockholders' Equity Note, Warrants or Rights	'
		Shares	Exercise		Expiration Date
			Price ($)
	Class G Warrants: (for Private Placement)
	Outstanding and exercisable at January 1, 2013	4,169,850		0.36	Dec. 31, 2014 (1)
	Outstanding and exercisable at December 31, 2013	4,169,850
	Outstanding and exercisable at June 30, 2014	4,169,850
	Class H Warrants: (Issued for Private Placement)
	Outstanding and exercisable at January 1, 2013	5,125,936		0.3	31-May-16
	Outstanding and exercisable at December 31, 2013	5,125,936
	Outstanding and exercisable at June 30, 2014	5,125,936
	Class I Warrants: (Issued for Private Placement)
	Outstanding and exercisable at January 1, 2013	13,906,413		0.4	31-May-16
	Outstanding and exercisable at December 31, 2013	13,906,413
	Outstanding and exercisable at June 30, 2014	13,906,413
	Class J Warrants: (Issued for Private Placement)
	Outstanding and exercisable at January 1, 2013	8,780,478		0.3	29-Jul-16
	Outstanding and exercisable at December 31, 2013	8,780,478
	Outstanding and exercisable at June 30, 2014	8,780,478
	Class K Warrants: (Issued for Notes payable in gold)
	Warrants issued March 29, 2013	307,500		0.4	29-Mar-15
	Outstanding and exercisable at December 31, 2013	307,500
	Outstanding and exercisable at June 30, 2014	307,500
	Class L Warrants: (Issued for Private Placement of Preferred Stock)
	Warrants issued January 23, 2014	2,857,142		0.1	23-Jan-19
	Outstanding and exercisable at June 30, 2014	2,857,142
	Class M Warrants: (Issued for Note Payable)
	Warrants issued January 29, 2014	1,735,000		0.15	29-Jan-19
	Outstanding and exercisable at June 30, 2014	1,735,000
	Class N Warrants: (Issued for Private Placement)
	Warrants issued June 6, 2014	7,104,317		0.11	6-Jun-19
	Warrants issued June 30, 2014	4,350,180		0.11	30-Jun-19
	Outstanding and exercisable at June 30, 2014	11,454,497
	Weighted average exercise of warrants outstanding and weighted average exercise price at June 30, 2014	48,336,816		0.27

8_Stockholders_Equity_Sharebas

8. Stockholders' Equity: Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	'
	Risk-free interest rate	1.75%
	Expected dividend yield	--
	Expected term (in years)	10
	Expected volatility	142.40%

8_Stockholders_Equity_Schedule1

8. Stockholders' Equity: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding	'
		Options	Weighted Average
			Exercise Price
	Outstanding at December 31, 2013	3,315,000	$     0.28
	Issued	-	-
	Canceled/Forfeited	-10,000	0.29
	Outstanding at June 30, 2014	3,305,000	$    0.28

9_Commitments_and_Contingencie1

9. Commitments and Contingencies: Nonpatented claims, annual costs (Tables)	6 Months Ended
	Jun. 30, 2014
Tables/Schedules	'
Nonpatented claims, annual costs	'
		30-Nov-14	30-Nov-15
	Claims Rental	$                   69,350	$                    83,570
	Annual Labor	61,100	61,100
	Yearly Totals	$                 130,450	$                  144,670

Recovered_Sheet1

Basis of Presentation and Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2014
Details	'
Basis of Accounting	'The unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the three and six-month periods ended June 30, 2014 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2014.

Recovered_Sheet2

Basis of Presentation and Significant Accounting Policies: Net Loss Per Share: Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Details	'	'
Convertible preferred stock Series A	1,050,000	1,050,000
Convertible preferred stock Series B	2,857,142	'
Stock options	3,305,000	3,165,000
Warrants	48,336,816	33,849,630
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	55,548,958	38,064,630

2_Going_Concern_Details

2. Going Concern (Details) (USD $)	6 Months Ended	663 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Details	'	'
Stock Issued During Period, Value, New Issues	$1,135,964	'
Stock Issued During Period, Shares, New Issues	22,909,000	'
Proceeds from issuance of preferred stock	200,000	675,000
Convertible preferred stock series B, shares issued	200	200
Proceeds from Unsecured Notes Payable	$230,489	'

3_Related_Party_Transactions_D

3. Related Party Transactions (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended	663 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014
Details	'	'	'	'	'	'
Related party deferred compensation	$40,000	'	$40,000	'	$115,000	$40,000
Interest Payable	11,338	'	11,338	'	'	11,338
Related party payable, detail	24,427	'	24,427	'	'	24,427
Directors' fees	10,100	3,100	25,400	17,800	87,900	873,375
Directors fees paid	'	'	59,910	'	'	'
Related party payable, detail	$53,390	'	$53,390	'	'	$53,390

4_Notes_Payable_in_Gold_Detail

4. Notes Payable in Gold (Details) (USD $)	6 Months Ended		12 Months Ended	663 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014
Details	'	'	'	'
Principal amount of notes payable in gold	$820,000	'	$820,000	'
Discount on notes payable in gold	55,783	'	205,000	'
Proceeds from notes payable in gold, net	'	571,352	615,000	2,356,389
Terms for delivery of gold	'	'	'Under the terms of the notes, the Company agreed to deliver gold produced by the Joint Venture (see Note 6 Joint Venture) to the holders at the lesser of $1,350 per ounce of fine gold or a 25% discount to market price as calculated on the contract date and specify delivery of gold in November 2014. The notes payable in gold contracts contain standard terms regarding delivery and receipt of gold and payment of delivery costs.	'
Findersfee	9,000	'	42,000	'
Placement costs	45,511	'	2,143	'
Deferred Finance Costs, Net	54,511	'	44,143	54,511
Warrants with notes payable in gold, exercise price	'	'	$0.40	'
Additional paid in capital, discount on notes payable in gold	7,590	'	'	'
Notes payable in gold, net	$764,217	'	$701,729	$764,217
Gold Deliverable	511.193	'	'	'

4_Notes_Payable_in_Gold_Fair_V1

4. Notes Payable in Gold: Fair Value of Warrants Issued with Notes Payable (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Details	'	'
Fair Value Assumptions, Risk Free Interest Rate	1.52%	0.29%
Warrants issued with notes, expected term (in years)	5	2
Fair Value Assumptions, Expected Volatility Rate	157.10%	138.50%

5_Note_Payable_Details

5. Note Payable (Details) (USD $)	6 Months Ended	12 Months Ended	663 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014
Details	'	'	'
Proceeds on note payable and warrants	$285,000	'	$285,000
Issuance of Warrants Class M	1,735,000	'	'
Findersfee	9,000	42,000	'
Placement costs	45,511	2,143	'
Deferred Finance Costs, Net	54,511	44,143	54,511
Note payable, net of discount	$245,266	'	$245,266

5_Note_Payable_Fair_Value_of_W1

5. Note Payable: Fair Value of Warrants issued with notes payable, additional (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Details	'	'
Fair Value Assumptions, Risk Free Interest Rate	1.52%	0.29%
Warrants issued with notes, expected term (in years)	5	2
Fair Value Assumptions, Expected Volatility Rate	157.10%	138.50%

7_Receivable_For_Equipment_Sal1

7. Receivable For Equipment Sale (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Details	'	'
Payment received, equipment sale	$332,067	$47,438

8_Stockholders_Equity_Fair_Val1

8. Stockholders' Equity: Fair Value of Warrants issued series B preferred stock (Details)	3 Months Ended
	Mar. 31, 2014
Details	'
Warrants issued with notes, risk free interest rate	'1.62
Warrants issued with notes payable, expected term (in years)	5
Warrants issued with notes, expected volatility	'157.0

8_Stockholders_Equity_Schedule2

8. Stockholders' Equity: Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $)	Jun. 30, 2014
Details	'
Class of Warrant or Right, Outstanding	48,336,816
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.27

8_Stockholders_Equity_Sharebas1

8. Stockholders' Equity: Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (Details)	12 Months Ended
	Dec. 31, 2013
Details	'
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.75%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	10
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	142.40%

8_Stockholders_Equity_Schedule3

8. Stockholders' Equity: Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Details) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Details	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	3,305,000	3,315,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$0.28	$0.28
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	-10,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price	$0.29	'

8_Stockholders_Equity_Details

8. Stockholders' Equity (Details) (USD $)	6 Months Ended		663 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Details	'	'	'
Stock based compensation	$0	$40,275	$1,735,241

9_Commitments_and_Contingencie2

9. Commitments and Contingencies (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Nov. 30, 2014
Details	'	'
Patented claims	426	'
Non-patented claims	22,432	'
Non-patented claims expense carryover	'	$14.30

9_Commitments_and_Contingencie3

9. Commitments and Contingencies: Nonpatented claims, annual costs (Details) (USD $)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
Details	'	'
Claims rental	$83,570	$69,350
Annual labor requirement	61,100	61,100
Non-patented claims expense	$144,670	$130,450