Goldrich Mining (GRMC) 10-K 16 Apr 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2017	Apr. 10, 2018	Jun. 30, 2017
Document and Entity Information:
Entity Registrant Name	Goldrich Mining Compan
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Trading Symbol	grmc
Amendment Flag	false
Entity Central Index Key	59,860
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		134,107,809
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	2,017
Document Fiscal Period Focus	FY
Entity Public Float			$ 2,412,282
Entity Incorporation, State Country Name	Alaska
Entity Incorporation, Date of Incorporation	Mar. 26, 1959

Goldrich Mining Company Consoli

Goldrich Mining Company Consolidated Balance Sheets - USD ($)		Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents		$ 486,211	$ 30,080
Other receivable			10,999
Prepaid expenses		88,002	80,456
Other current assets		27,788
Total current assets		602,001	121,535
Property, equipment, and mining claims:
Equipment, net of accumulated depreciation		6,869	19,597
Mining properties, claims, and royalty option		868,516	649,746
Total property, equipment and mining claims		875,385	669,343
Total assets		1,477,386	790,878
Current liabilities:
Accounts payable and accrued liabilities		235,399	278,239
Related party payables		368,900	277,890
Notes payable, net of discount		1,513,990	297,508
Notes payable in gold		355,950	412,261
Dividends payable on preferred stock		30,618	30,618
Total current liabilities		2,504,857	1,296,516
Long-term liabilities:
Remediation and asset retirement obligation		384,402	371,540
Total long-term liabilities		384,402	371,540
Total liabilities		2,889,259	1,668,056
Commitments and contingencies	[1]	0	0
Stockholders' deficit:
Convertible preferred stock series A; 5% cumulative dividends, no par value, 1,000,000 shares authorized; 150,000 shares issued and outstanding, respectively, $300,000 liquidation preferences		150,000	150,000
Convertible preferred stock series B; no par value, 300 shares authorized, 200 shares issued and outstanding, $200,000 liquidation preference		57,758	57,758
Convertible preferred stock series C; no par value, 250 shares authorized, issued and outstanding, $250,000 liquidation preference		52,588	52,588
Convertible preferred stock series E; no par value, 300 shares authorized, issued and outstanding, $300,000 liquidation preference		10,829	10,829
Common stock; $0.10 par value, 250,000,000 shares authorized; 134,107,809 and 131,232,809 issued and outstanding, respectively		13,410,781	13,123,281
Additional paid-in capital		14,016,932	13,873,669
Accumulated deficit		(29,110,761)	(28,145,303)
Total stockholders' deficit		(1,411,873)	(877,178)
Total liabilities and stockholders' deficit		$ 1,477,386	$ 790,878
[1]	Notes 4, 9, 10, 12

Statement of Financial Position

Statement of Financial Position - Parenthetical - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Statement of financial position
Preferred Stock, Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	8,999,950	8,999,950
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	150,000	150,000
Convertible preferred stock series A, shares outstanding	150,000	150,000
Liquidation preference	$ 300,000	$ 300,000
Convertible preferred stock series B, no par value, shares authorized	300	300
Convertible preferred stock series B, shares issued	200	200
Convertible preferred stock series B, shares outstanding	200	200
Liquidation preference, additional series	$ 200,000	$ 200,000
Convertible preferred stock series C no par value, shares authorized	250	250
Convertible preferred stock series C, shares issued	250	250
Convertible preferred stock series C, shares outstanding	250	250
Liquidation preference, series C	$ 250,000	$ 250,000
Convertible preferred stock series D no par value, shares authorized	150	150
Convertible preferred stock series D, shares issued	150	150
Convertible preferred stock series D, shares outstanding	150	150
Liquidation preference, series D	$ 100,000	$ 100,000
Convertible preferred stock series E no par value, shares authorized	300	300
Convertible preferred stock series E, shares issued	300	300
Convertible preferred stock series E, shares outstanding	300	300
Liquidation preference, series E	$ 100,000	$ 100,000
Convertible preferred stock series F no par value, shares authorized	153	50
Convertible preferred stock series F, shares issued	153	50
Convertible preferred stock series F, shares outstanding	153	50
Liquidation preference, series F	$ 50,000	$ 50,000
Common Stock, Par Value	$ 0.10	$ 0.10
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares Issued	134,107,809	131,232,809
Common Stock, Shares Outstanding	134,107,809	131,232,809

Goldrich Mining Company Consol4

Goldrich Mining Company Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Revenue:
Distribution from joint venture	$ 218,770	$ 67,580
Total revenue	218,770	67,580
Operating expenses:
Exploration	184,069	105,450
Depreciation	12,729	28,289
Management fees and salaries	225,655	217,844
Professional services	146,757	66,193
General and administrative	245,365	205,609
Office supplies and other	11,803	7,885
Directors' fees	27,900	37,900
Royalty expense	35,794
Mineral property maintenance	87,159	84,426
Gain on sale of equipment		(10,999)
Total operating (income) expenses	977,231	742,597
Other (income) expense:
Change in fair value of notes payable in gold	40,984	(34,758)
Gain on settlement of accounts payable	(79,614)
Interest expense and finance costs	245,626	58,281
Total other (income) expense	206,996	58,281
Net loss	(965,457)	(733,298)
Deemed dividend on Series D, E, F Preferred stock	(52,900)	(252,710)
Preferred dividends	(7,604)	(7,625)
Net loss available to common stockholders	$ (1,025,961)	$ (993,633)
Net loss per common share - basic and diluted	$ (0.01)	$ (0.01)
Weighted average common shares outstanding-basic and diluted	131,256,439	131,232,809

Goldrich Mining Company Consol5

Goldrich Mining Company Consolidated Statements of Changes in Stockholders' (Deficit) - USD ($)	Common Stock Shares	Common Stock Par Value	Preferred Stock Shares	Preferred Stock Par Value	Additional Paid-in Capital	Accumulated Deficit	Total
Stockholders' Equity at Dec. 31, 2015		$ 13,123,281		$ 260,346	$ 13,384,498	$ (27,412,005)	$ (643,880)
Shares issued at Dec. 31, 2015	131,232,809		150,450
Issuance of Series D Preferred shares and warrants, net					150,000		150,000
Issuance of Series D Preferred shares and warrants, net, stock			150
Issuance of Series E Preferred shares and warrants, net				10,829	289,171		300,000
Issuance of Series E Preferred shares and warrants, net, stock			300
Issuance of Series F Preferred shares and warrants, net					50,000		50,000
Issuance of Series F Preferred shares and warrants, net, stock			50
Net Income (Loss)						(733,298)	(733,298)
Stockholders' Equity at Dec. 31, 2016		13,123,281		271,175	13,873,669	(28,145,303)	(877,178)
Shares issued at Dec. 31, 2016	131,232,809		150,950
Issuance of Series F Preferred shares and warrants, net					103,000		$ 103,000
Issuance of Series F Preferred shares and warrants, net, stock			103				218,513
Warrants issued with note payable					218,513		$ 218,513
Issuance of shares for accounts payable, value		287,500			(178,250)		109,250
Issuance of shares for accounts payable, stock	2,875,000
Net Income (Loss)						(965,457)	(965,457)
Stockholders' Equity at Dec. 31, 2017		$ 13,410,781		$ 271,175	$ 14,016,932	$ (29,110,760)	$ (1,411,872)
Shares issued at Dec. 31, 2017	134,107,809		151,053

Goldrich Mining Company Consol6

Goldrich Mining Company Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (965,457)	$ (733,298)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation	12,729	28,289
Change in fair value of notes payable in gold	40,984	(34,758)
Write off of other current asset		49,176
Joint venture distribution applied to purchase of royalty option	(218,770)	(67,580)
(Gain) on disposal of equipment		(10,999)
(Gain) on settlement of accounts payable	(79,614)
Amortization of discount on notes payable	29,033	18,545
Amortization of deferred financing costs	962	13,539
Accretion of asset retirement obligation	12,862	12,367
Change in:
Other receivable	10,999
Prepaid expenses	(7,546)	(3,277)
Gold inventory		2,433
Other current assets	(27,789)
Accounts payable and accrued liabilities	146,024	58,516
Related party payables	91,009	181,067
Net cash used - operating activities	(954,574)	(485,980)
Cash flows from financing activities:
Payments on notes payable in gold	(97,295)	(62,549)
Payments on note payable	(300,000)
Proceeds from notes payable and warrants	1,705,000
Proceeds from issuance of preferred shares and warrants, net of offering costs	103,000	500,000
Net cash provided - financing activities	1,410,705	437,451
Net increase (decrease) in cash and cash equivalents	456,131	(48,529)
Cash and cash equivalents, beginning of year	30,080	78,609
Cash and cash equivalents, end of year	486,211	30,080
Supplemental disclosures of cash flow information:
Cash paid for interest	102,461	75,753
Non-cash investing and financing activities:
Beneficial conversion feature on preferred stock	52,900	252,710
Warrants issued with preferred stock	50,100	$ 236,461
Issuance of shares of common stock for accounts payable	109,250
Warrants issued with notes payable	$ 218,513

1. Organization and Description

1. Organization and Description of Business	12 Months Ended
	Dec. 31, 2017
Notes
1. Organization and Description of Business	1. ORGANIZATION AND DESCRIPTION OF BUSINESS Goldrich Mining Company (“Company”) was incorporated under the laws of the State of Alaska on March 26, 1959. The Company is engaged in the business of acquiring and exploring mineral properties throughout the Americas, primarily those containing gold and associated base and precious metals. During 2017, all of the Company’s activities were focused on the Chandalar property in Alaska. The Company’s common stock trades on the Over-The-Counter Bulletin Board (“OTCBB”) exchange under the ticker symbol GRMC. Going Concern The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception and 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. The Company currently has no historical recurring source of revenue and in 2016 received its first cash distribution from the joint venture (Note 4). If these distributions increase in future years and the Company profitably executes its business plan, its ability to continue as a going concern may improve and become less dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. 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. 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.

2. Summary of Significant Accou

2. Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Notes
2. Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 venture’s 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 4 Joint Venture 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. The Company periodically assesses its investments in joint ventures for impairment. If management determines that a decline in fair value is other than temporary it will write-down the investment and charge the impairment against operations. Earnings (Loss) Per Share We are authorized to issue 250,000,000 shares of common stock, $0.10 par value per share. At December 31, 2017, there were 134,107,809 shares of our common stock issued and outstanding. For the years ended December 31, 2017 and 2016, the effect of the Company’s outstanding preferred shares, options and warrants, totaling 103,386,073 and 87,397,046 for the two years, respectively, would have been anti-dilutive. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09 Revenue Recognition, replacing guidance currently codified in Subtopic 605-10 Revenue Recognition-Overall with various SEC Staff Accounting Bulletins providing interpretive guidance. The new ASU establishes a new five step principles-based framework in an effort to significantly enhance comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. In August 2015, the FASB issued ASU No. 2015-14 Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. ASU No. 2015-14 defers the effective date of ASU No. 2014-09 until annual and interim reporting periods beginning after December 15, 2017. The Company has performed an assessment of the impact of implementation of ASU No. 2014-09, and concluded it will not change the timing of revenue recognition or amounts of revenue recognized compared to how revenue is recognized under current policies. ASU No. 2014-09 will require additional disclosures, where applicable, on (i) contracts with customers, (ii) significant judgments and changes in judgments in determining the timing of satisfaction of performance obligations and the transaction price, and (iii) assets recognized for costs to obtain or fulfill contracts. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The update modifies the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the potential impact of implementing this update on the consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update provides guidance on classification for cash receipts and payments related to eight specific issues. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of implementing this update on the consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash. The update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company does not expect this update to have a material impact on the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after the effective date. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. Cash and Cash Equivalents For the purposes of the statement of cash flows, we consider all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents. Reclassifications Certain reclassifications have been made to conform prior year’s data to the current presentation. These reclassifications have no effect on the results of reported operations or stockholders’ deficit or cash flows. 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, fourth quarter production figures, accrued remediation costs, asset retirement obligations, stock based compensation, and deferred tax assets and related valuation allowances. Actual results could differ from those estimates. Property, Equipment, and Accumulated Depreciation Property and equipment are stated at cost, which is determined by cash paid or fair value of the shares of the Company’s common stock issued. The Company’s property and equipment are located on the Company’s unpatented state mining claims located in the Chandalar mining district of Alaska. All property and equipment purchased prior to 2009 are fully depreciated. The Company’s equipment is located at the Chandalar property in Alaska, with a small amount of office equipment located at Company offices in Spokane, Washington. Assets are depreciated on a straight-line basis. Improvements which significantly increase an asset’s value or significantly extend its useful life are capitalized and depreciated over the asset’s remaining useful life. When a fixed asset is sold at a price either higher or lower than its carrying amount, or undepreciated cost at the date of disposal, the difference between the sale proceeds over the carrying amount is recognized as gain, while a loss is recognized when the carrying amount exceeds the sale proceeds. The gain or loss is recognized in the Consolidated Statements of Operations. Mining Properties, Claims, and Royalty Option The Company capitalizes costs for acquiring mineral properties, claims and royalty option and expenses costs to maintain mineral rights and leases as incurred. Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method on the basis of periodic estimates of ore reserves. Mineral properties are periodically assessed for impairment of value, and any subsequent losses are charged to operations at the time of impairment. If a property is abandoned or sold, its capitalized costs are charged to operations. Exploration Costs Exploration costs are expensed in the period in which they occur. Income Taxes Income taxes are recognized in accordance with Accounting Standards Codification (“ASC”) 740 Income Taxes, whereby deferred income tax liabilities or assets at the end of each period are determined using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and measurement attribute for the recognition and measurement of a tax position taken or expected to be taken in a tax return. Revenue Recognition The Company does not have joint control or significant influence over the joint venture; therefore, distributions from our joint venture are recognized using the cost method. At the conclusion of 2017 and 2016, Goldrich was allocated a distribution from its joint venture partner of $218,770 and $67,580, respectively. See note 4, Joint Venture. Stock-Based Compensation The Company periodically issues common shares or options to purchase shares of the Company’s common shares to its officers, directors or other parties. These issuances are recorded at fair value. The Company uses a Black Scholes valuation model for determining fair value of options to purchase shares, and compensation expense is recognized ratably over the vesting periods on a straight line basis. Compensation expense for grants that vest immediately are recognized in the period of grant. Remediation The Company’s operations have been, and are subject to, standards for mine reclamation that have been established by various governmental agencies. The Company records the fair value of an asset retirement obligation as a liability in the period in which the Company incurs a legal obligation for the retirement of tangible long-lived assets. A corresponding asset is also recorded and depreciated over the life of the long lived asset using a units of production method. After the initial measurement of the asset retirement obligation, the liability will be adjusted at the end of each reporting period to reflect changes in the estimated future cash flows underlying the obligation. Determination of any amounts recognized is based upon numerous estimates and assumptions, including future retirement costs, future inflation rates and the credit-adjusted risk-free interest rates. For non-operating properties, the Company accrues costs associated with environmental remediation obligations when it is probable that such costs will be incurred and they are reasonably estimable. Such costs are based on management’s estimate of amounts expected to be incurred when the remediation work is performed. Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. During 2017 and 2016, the Company determined fair value on a recurring basis and non-recurring basis as follows: Balance December 31, 2017 Balance December 31, 2016 Fair Value Hierarchy level Liabilities Recurring: Notes payable in gold (Note 7) $ 355,950 $ 412,261 2 The carrying amounts of financial instruments, including notes payable, approximate fair value at December 31, 2017 and 2016. Derivatives The Company measures derivative contracts as assets or liabilities based on their fair value. Gains or losses resulting from changes in the fair value of derivatives in each period are recorded in current operating results. None of the Company’s derivative contracts qualify for hedge accounting. The Company does not hold or issue derivative financial instruments for speculative trading purposes.

3. Property, Equipment and Mini

3. Property, Equipment and Mining Claims	12 Months Ended
	Dec. 31, 2017
Notes
3. Property, Equipment and Mining Claims	3. PROPERTY, EQUIPMENT AND MINING CLAIMS Equipment At December 31, 2017 and 2016, the Company’s equipment classifications were as follows: 2017 2016 Exploration and mining equipment $ 1,627,351 $ 1,627,351 Vehicles and rolling stock 390,140 390,140 Office and other equipment 65,549 65,548 Total 2,083,040 2,083,039 Accumulated depreciation (2,076,171) (2,063,442) Equipment, net of depreciation $ 6,869 $ 19,597 Of the Company’s equipment, $1,319,341 are being depreciated over lives of three and five years and $763,699 are being depreciated over seven and ten years, resulting in total depreciation expense of $12,729 for 2017. Assets of $1,319,341 and $763,699 being depreciated over corresponding periods, respectively, resulting in total depreciation of $28,289 for 2016. Mining Properties and Claims, and Royalty Option At December 31, 2017 and 2016, the Company’s mining properties claims, and royalty option were as follows: 2017 2016 Chandalar property and claims $ 264,000 $ 264,000 2003 purchased claims 35,000 35,000 Unpatented state claims staked 40,400 40,400 Asset retirement costs 242,766 242,766 Jumbo Basin royalty option ( Note 4 286,350 67,580 Total $ 868,516 $ 649,746 Asset retirement costs will be amortized over the related long lived asset using a units of production method. No significant production occurred during 2017 and 2016 on specific claims included in this listing. Accordingly no amortization of these costs has been recorded for 2017 and 2016.

4. Joint Venture

4. Joint Venture	12 Months Ended
	Dec. 31, 2017
Notes
4. Joint Venture	4. JOINT VENTURE On May 7, 2012, the Company entered into a joint venture with NyacAU, LLC (“NyacAU”), an Alaskan private company, to bring Goldrich’s Chandalar placer gold properties into production as defined in the joint venture agreement. 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 Placer, LLC (“GP”), a subsidiary of Goldrich and NyacAU (together the “Members”) 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. According to the Agreement, on at least an annual basis, the JV shall allocate and distribute all revenue (whether in cash or as gold) generated from the JV’s placer operation in the following order: 1. Operating Expenses. GNP will first pay all Operating Expenses as defined in the Operating Agreement for placer mining operations at the Claims for the current mining year. Until Commercial Production is achieved, GNP will drawdown or use a line of credit from NyacAU (“LOC1”) to fund payment of the Operating Expenses and repay LOC1 to the extent of the current year's Operating Expenses. 2. Members' Distribution - Ten Percent (10%) Portion. After payment of Operating Expenses, GNP will distribute in kind twenty percent (20%) of the remaining gold produced, equally, ten percent (10%) to NyacAU as a Member of the GNP and ten percent (10%) to Goldrich as a Member of GNP; provided, however, that, for so long as any secondary line of credit from NyacAU to GNP (“LOC2”) or loan from NyacAU to GNP to purchase the Jumbo Basin royalty (“Loan3”) are not paid in full, GNP shall retain one hundred percent (100%) of this distribution to Goldrich and shall apply such funds as payment to reduce the balance of LOC2 and Loan3 until they are paid in full. At December 31, 2017, $95,239 of Loan3 remains unpaid. 3. LOC1 Payments. After payment of Operating Expenses and the Members' distribution, GNP will apply any remaining revenue to reduce the remaining balance of LOC1, if any, until it is paid in full. 4. Reserves. After payment of Operating Expenses, the Members' distribution, and payment of LOC1, the Company may fund Reserves in an amount that is consistent with the annual budget. 5. Member Distributions, LOC2 Payments and Loan3 Recovery. After payment of Operating Expenses, the Members', payment of LOC1, and funding of any Reserves, from any remaining gold production or revenue, the Company will distribute fifty percent (50%) to NyacAU as a Member of GNP and fifty percent (50%) to Goldrich as a Member of GNP; provided, however, that, for so long as LOC2 or Loan3 are not paid in full, GNP shall retain one hundred percent (100%) of the distribution to Goldrich and shall apply such funds as payment to reduce the balance of LOC2 and Loan3 until they are paid in full. Substantially all required allocations and distributions shall be made no later than October 31st of each year, with any remaining allocations or distributions being completed no later than December 31st of each year, unless otherwise agreed in writing by the Members. On June 23, 2015, the Company raised net proceeds of $1.1 million through the sale of 12.5% of the cash flows Goldrich receives in the future from its interest in GNP (“Distribution Interest”), paid in cash under items #2 and #5, to Chandalar Gold, LLC (“CGL”) and GVC Capital, LLC,(“GVC”), both of which are non-related entities. Goldrich retained its ownership of its 50% interest in GNP but, after the transaction, subject to the terms of the GNP operating agreement, Goldrich will effectively receive approximately 44%, CGL will effectively receive 6% (12% of Goldrich’s 50% of GNP = 6%) and GVC will effectively receive 0.25% (0.5% of Goldrich’s 50% of GNP = 0.25%) of any distributions produced by GNP. As of December 31, 2017, an amount of $35,794 has been accrued for this 12.5% and is included in accrued liabilities. At the conclusion of 2017 and 2016, Goldrich was allocated a distribution of $218,770 and $67,580, respectively, under #2 above. In accordance with terms of the Operating Agreement, the Company had the distribution applied toward Loan3. In 2012, the joint venture purchased, on Goldrich’s behalf, a 2% royalty interest, payable on all production from certain Goldrich mining claims at the Chandalar, Alaska property for $250,000 from Jumbo Basin Corporation. This transaction gave rise to Loan3, is carried at an interest rate of the greater of prime plus 2% or 10%, and is to be repaid from distributions to Goldrich as defined in the Operating Agreement, prior to any distributions in cash to Goldrich. At December 31, 2017, the balance due on Loan3 is $95,239. The Company challenged certain accounting procedures and methods applied by the JV’s managing partner in a mediation that was unsuccessful in reaching an agreement. As a result, the Company has filed for arbitration before a panel of three independent arbitrators to address each of the disputed procedures and methods. A successful arbitration may result in significant increases to the 2017 and 2016 distributions and revise the computation of these distributions in 2018 and future years. No assurance has been given that the arbitration will be successful. In addition, GNP must meet the Minimum Production Requirements as defined by the operating agreement. The Minimum Production Requirement for each year is determined by the price of gold on December 1 in the preceding year. The Minimum Production Requirements for 2016, 2017 and 2018 are 1,100, 1,200 and 1,300 ounces of fine gold, respectively, distributable to each of Goldrich and NyacAU. The value of the combined 2016 and 2017 Minimum Production Requirements has been calculated at $2,981,950 using the price of gold at $1,296.50 per ounce at December 31, 2017. However, no receivable has been recorded for this amount due to the potential failure of the JV to meet the Minimum Production Requirements by 2018, which may force the dissolution of the JV and may make the collection of this amount uncertain. The Minimum Production Requirements for 2016, 2017 and 2018 must substantially be paid by October 31, 2018 and, for each year thereafter, the annual Minimum Production Requirements shall be met if GNP distributes an average of a minimum of fifteen hundred (1,500 ounces) per year to each member of GNP over a rolling three-year period, subject to modification based on the price of gold. If the price of gold falls below $1,500 per ounce, the annual Minimum Production Requirement of 1,500 ounces of gold will be reduced one hundred (100) ounces for each one hundred dollars per ounce decrease in the price, to the minimum price of one thousand dollars ($1,000). If the price of gold falls below one thousand dollars ($1,000) per ounce on December 1 in any year, there will be no minimum production required for the next year and such year will be eliminated from the average minimum calculation. If the Minimum Production Requirements are not met, GNP shall be dissolved unless agreed in writing by the members.

5. Related Party Transactions

5. Related Party Transactions	12 Months Ended
	Dec. 31, 2017
Notes
5. Related Party Transactions	5. RELATED PARTY TRANSACTIONS Beginning in January 2016 and through 2017, the salary of the Company’s Chief Executive Officer (“CEO”) has not been paid in full. An amount of $192,500 has been accrued at December 31, 2017 compared to $127,500 at December 31, 2016. An amount of $35,093 was accrued for fees due to the Company’s Chief Financial Officer (“CFO”) at December 31, 2016 and paid during the year ended December 31, 2017. An amount of $35,202 has been accrued for fees at December 31, 2017. These amounts are included in related parties payable. Total expense for the CFO for the years ended December 31, 2017 and 2016 were $45,656 and $45,344, respectively.

6. Notes Payable

6. Notes Payable	12 Months Ended
	Dec. 31, 2017
Notes
6. Notes Payable	6. NOTES PAYABLE On January 24, 2014, the Company closed a three-year unsecured senior note financing for $300,000 with a private investment firm (“the lender”). The note bore interest at 15%, payable at the end of each quarter. Interest of $24,333 and $45,000 had been recognized and paid during the years ended December 31, 2017 and December 31, 2016, respectively. The balance of the note, together with extension fees agreed with the note holder to extend the maturity date of the note, were paid in full on July 11, 2017. Subsequent to the end of the year, on February 13, 2018, the Company announced a senior secured notes financing for a possible total net proceeds of $2,200,000. During the year ended December 31, 2017, the Company received the first tranche of the notes for gross proceeds of $1,794,737 , discounted at 5%, resulting in net proceeds of $1,705,000. The financing remains open for an additional $495,000 of net proceeds. The secured senior notes mature on October 31, 2018, have an interest rate of 15% per annum, calculated on a 360-day year and payable monthly, and were issued net of a 5% original issue discount. A total of 9,422,359 five-year Class T warrants were issued to the lenders. The warrants have an exercise price of $0.03 and expire on November 30, 2022. The Company paid finder fees totaling $30,000 to related party entities, with $20,000 accrued and included in accounts payable and accrued liabilities, and incurred $21,000 of other finance and placement costs. Interest of $8,669 was paid during the year ended December 31, 2017, and $39,417 is accrued at December 31, 2017 and is included in accounts payable and accrued liabilities. Interest due at March 31, 2018 was timely paid. The senior secured notes are secured by distributions from the GNP joint venture. The notes rank junior to: (i) Any GNP Distributions that are only deemed to be made by GNP to Goldrich Placer pursuant to the Operating Agreement but are then withheld pursuant to Section 10.1 of the GNP Operating Agreement; and (ii) Any GNP Distributions that are made by the GNP to Goldrich Placer pursuant to the GNP Operating Agreement but are then withheld to pay Loan 3 and 2012 reclamation expenses; and (iii) Any GNP Distributions that are made by the GNP to Goldrich Placer pursuant to the Operating Agreement but are then used to pay legal fees relating to mediation/arbitration concerning distributions due to Goldrich Placer from GNP; and (iv) Any GNP Distributions that are part of the Chandalar Sale, described below; and (v) Any GNP Distributions that are part of the GVC Sale, described below; and (vi) Any GNP Distributions which are secured by the Company’s outstanding Senior Gold Forward Sales Contracts. The Chandalar Sale relates to a purchase agreement, dated as of June 19, 2015, whereby the Company sold and assigned to CGL 12% of any and all GNP Distributions, subject to the limitations set forth in the purchase agreement and the related assignment. See Note 4 Joint Venture The GVC Sale relates to a purchase agreement, dated as of May 22, 2015, whereby the Company sold and assigned to GVC 0.50% of any and all GNP Distributions, subject to the limitations set forth in the purchase agreement and the related assignment. See Note 4 Joint Venture Repayment of all amounts owed under the notes are 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 4 Joint Venture The fair value of warrants issued with the notes payable 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 at $263,826 using the following weighted average assumptions: Market price of common stock on date of issuance $0.0299 Risk-free interest rate 2.26% Expected dividend yield 0 Expected term (in years) 5 Expected volatility 162.4% 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 Notes payable are discounted by the fair value of the warrants, which is being amortized over the term of the notes. At December 31, 2017, the Company had outstanding total notes payable of $1,794,737 less remaining unamortized discounts of $280,747 for a net liability of $1,513,990.

7. Notes Payable in Gold

7. Notes Payable in Gold	12 Months Ended
	Dec. 31, 2017
Notes
7. Notes Payable in Gold	7. 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 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. On November 30, 2014 and 2015, the Company renegotiated terms with the holders. A default condition arising from the non-delivery of the gold was alleviated by agreements with the other three note holders to extend the delivery dates. On November 30, 2016, the Company again renegotiated terms with the holders. A default condition arising from the non-delivery of the gold in 2016 was alleviated by agreements with the three note holders to extend the delivery date of gold to November 30, 2017. As of December 31, 2016, the gold to be delivered was not likely to be produced from the Company’s property. In addition, history has shown that the Company may satisfy the debt through cash payment instead of gold ounces for payment. Due to these provisions, the amended contracts are accounted for as derivatives requiring their value to be adjusted to fair value at each period end. At December 31, 2016, the Company had outstanding total notes payable in gold of $412,261, representing 342.788 ounces of fine gold deliverable at November 30, 2017. On November 30, 2017, the Company again renegotiated terms with the holders. A default condition arising from the non-delivery of the gold in 2017 was alleviated by agreements with the three note holders to extend the delivery date of gold to November 30, 2018, with the following terms: Fifteen percent (15%), or 76 ounces, of the required quantity of gold under the contract, prior to amendment one in 2014, amendment two in 2015, and amendment three in 2016, which was originally due on the Delivery Date of November 30, 2014, was delivered on November 30, 2017. In lieu of gold, the Company could elect to satisfy the delivery of the deliverable required quantity by paying, an amount equal to the deliverable required quantity times the greater of the original purchase price or the index price for the day preceding the date of payment. The Company paid a total of $97,295 in cash to satisfy this renegotiated term. The Company agreed to pay interest on the value of the delayed delivery required quantity of $341,543, at an annual non-compounding percentage rate of 10% payable quarterly with any remaining interest due and payable on the delivery date. If the delivery date index price on November 30, 2018 is less than the original purchase price, an additional adjusted required amount shall be delivered by December 31, 2018. For the year ended December 31, 2017, using a forward gold price of $1,334, the Company recognized a change in fair value of $40,984 in accounting for these notes as derivatives. The fair value was calculated using the market approach with Level 2 inputs. At December 31, 2017, the Company had outstanding total notes payable in gold of $355,950, representing 266.788 ounces of fine gold deliverable at November 30, 2018. Interest due at March 31, 2018 was timely paid.

8. Stockholders' Equity

8. Stockholders' Equity	12 Months Ended
	Dec. 31, 2017
Notes
8. Stockholders' Equity	8. STOCKHOLDERS’ EQUITY Private Placement Offerings - Unit Private Placements Series A Convertible Preferred Stock: The Company has 150,000 shares of Series A Convertible Preferred Stock outstanding at December 31, 2017. These shares were issued from the designated 1,000,000 shares of Series A Preferred Stock, no par value, with the following rights and preferences: Liquidation Preference: Upon a liquidation event, an amount in cash equal to $2.00 per share (adjusted appropriately for stock splits, stock dividends and the like), for a total of $300,000 at December 31, 2017, together with declared but unpaid dividends to which the holders of outstanding shares of Series A Preferred Stock are entitled shall be paid prior to liquidation payments to holders of Company securities junior to the Series A Preferred Stock. · · · · · Conversion of outstanding shares of Series A Preferred stock would have resulted in dilution of 900,000 and 900,000 common shares for the years ended December 31, 2017 and 2016, respectively. Series B Convertible Preferred Stock: The Company has 200 shares of Series B Convertible Preferred Stock outstanding at December 31, 2017. These shares were issued from the designated 300 shares of Series B Preferred Stock, no par value, with the following rights and preferences: · · · · Conversion of outstanding shares of Series B Preferred stock would result in dilution of 2,857,142 common shares for the years ended December 31, 2017 and 2016. Series C Convertible Preferred Stock: The Company has 250 shares of Series C Convertible Preferred Stock outstanding at December 31, 2017. These shares were issued from the designated 250 shares of Series C Preferred Stock, no par value, with the following rights and preferences: · · · · Conversion of outstanding shares of Series C Preferred stock would result in dilution of 8,333,333 common shares for the years ended December 31, 2017 and 2016. Series D Convertible Preferred Stock: On April 6, 2016, June 13, 2016, and August 1, 2016, the Company completed the first, second and third tranches of an offer and sale of 150 shares of Series D Preferred stock, resulting in net proceeds of $150,000 to the Company. These shares were issued from the designated 10,000,000 share of Preferred Stock, par value as the Board may determine. In connection with the issuance of the Series D Preferred Stock, the Company issued a total of 5,000,000, five-year Class R warrants to purchase shares of the Company’s common stock. The Class R warrants have an exercise price of $0.045 per share of the Company’s common stock and had a relative fair value of $71,095, as determined using a Black Scholes model and allocation between the preferred shares and the warrants. Additionally, a beneficial conversion feature of $78,905 was determined to exist, which represented a deemed dividend to the holders of the preferred shares recognizable immediately upon issue due to the ability to convert the shares concurrent with issuance of the preferred shares. The fair value of the warrants and the beneficial conversion feature, which together consumed the value of the net proceeds, were charged to additional paid in capital at the date of issuance, resulting in no credit to Convertible preferred stock series D on the Company’s balance sheet. The Company has 150 shares of Series D Convertible Preferred Stock outstanding at December 31, 2017. These shares were issued from the designated 150 shares of Series D Preferred Stock, no par value. Conversion of outstanding shares of Series D Preferred stock would result in dilution of 5,000,000 common shares for the years ended December 31, 2017 and 2016. Series E Convertible Preferred Stock: On September 30, 2016, November 2, 2016, and December 9, 2016, the Company completed the first, second and third tranches of an offer and sale of 300 shares of Series E Preferred stock, resulting in net proceeds of $300,000 to the Company. These shares were issued from the designated 10,000,000 share of Preferred Stock, par value as the Board may determine. In connection with the issuance of the Series E Preferred Stock, the Company issued a total of 10,000,000, five-year Class R warrants to purchase shares of the Company’s common stock. The Class R warrants have an exercise price of $0.045 per share of the Company’s common stock and had a relative fair value of $141,228, as determined using a Black Scholes model and allocation between the preferred shares and the warrants. Additionally, a beneficial conversion feature of $147,943 was determined to exist, which represented a deemed dividend to the holders of the preferred shares recognizable immediately upon issue due to the ability to convert the shares concurrent with issuance of the preferred shares. The fair value of the warrants and the beneficial conversion feature, which together consumed the value of the net proceeds, were charged to additional paid in capital at the date of issuance, resulting in no credit to Convertible preferred stock series E on the Company’s balance sheet. The Company has 300 shares of Series E Convertible Preferred Stock outstanding at December 31, 2017. These shares were issued from the designated 300 shares of Series E Preferred Stock, no par value. Conversion of outstanding shares of Series E Preferred stock would result in dilution of 10,000,000 common shares for the years ended December 31, 2017 and 2016. Series F Convertible Preferred Stock: On December 30, 2016, February 7, 2017, March 1, 2017 and March 31, 2017, the Company completed an offer and sale of 153 shares of Series F Preferred stock, resulting in net proceeds of $153,000 ($103,000 in 2017) to the Company. These shares were issued from the designated 10,000,000 share of Preferred Stock, par value as the Board may determine. In connection with the issuance of the Series F Preferred Stock, the Company issued a total of 5,100,000, five-year Class S warrants to purchase shares of the Company’s common stock. The Class S warrants have an exercise price of $0.03 per share of the Company’s common stock and had a relative fair value of $50,100 and $74,238 for 2017 and 2016, respectively, as determined using a Black Scholes model and allocation between the preferred shares and the warrants. Additionally, a beneficial conversion feature of $78,762 ($52,900 in 2017) was determined to exist, which represented a deemed dividend to the holders of the preferred shares recognizable immediately upon issue due to the ability to convert the shares concurrent with issuance of the preferred shares. The fair value of the warrants and the beneficial conversion feature, which together consumed the value of the net proceeds, were charged to additional paid in capital at the date of issuance, resulting in no credit to Convertible preferred stock series F on the Company’s balance sheet. The Company has 153 shares of Series F Convertible Preferred Stock outstanding at December 31, 2017. These shares were issued from the designated 300 shares of Series F Preferred Stock, no par value. Conversion of outstanding shares of Series F Preferred stock would result in dilution of 5,100,000 and 1,666,667 common shares for the years ended December 31, 2017 and 2016, respectively. The fair value of the warrants of Series D, E and F, were estimated on the issue dates using the following weighted average assumptions: Preferred Series D D D E E E F F F F Issue Date 6-Apr-16 13-Jun-16 1-Aug-16 30-Sep-16 2-Nov-16 9-Dec-16 30-Dec-16 7-Feb-17 1-Mar-17 30-Mar-17 Risk-free int rate 1.20% 1.14% 1.06% 1.14% 1.26% 1.89% 1.93% 1.85% 1.99% 1.93% Expd dividend yield 0 0 0 0 0 0 0 0 0 0 Expd term (in years) 5 5 5 5 5 5 5 5 5 5 Expd volatility 147.20% 149.60% 152.60% 152.80% 152.90% 153.10% 153.70% 153.3% 155.4% 157.4% Series D, E and F Preferred Stock were issued with the following rights and preferences: · · · · · Warrants: The following is a summary of warrants for December 31, 2017: Shares Exercise Price ($) Expiration Date Class H Warrants: (Issued for Private Placement) Warrants issued 2011 5,125,936 0.30 Warrants expired May 31, 2016 (5,125,936) Outstanding and exercisable at December 31, 2016 - Outstanding and exercisable at December 31, 2017 - Class I Warrants: (Issued for Private Placement) Warrants issued 2011 13,906,413 0.40 Warrants expired May 31, 2016 (13,906,413) Outstanding and exercisable at December 31, 2016 - Outstanding and exercisable at December 31, 2017 - Class J Warrants: (Issued for Private Placement) Warrants issued 2011 8,780,478 0.30 Warrants expired July 29, 2016 (8,780,478) Outstanding and exercisable at December 31, 2016 - Outstanding and exercisable at December 31, 2017 - Class L Warrants: (Issued for Private Placement of Preferred Stock) Warrants issued January 23, 2014 2,857,142 0.10 January 23, 2019 Outstanding and exercisable at December 31, 2016 2,857,142 Outstanding and exercisable at December 31, 2017 2,857,142 Class M Warrants: (Issued for Note Payable) Warrants issued January 29, 2014 1,735,000 0.15 January 29, 2019 Outstanding and exercisable at December 31, 2016 1,735,000 Outstanding and exercisable at December 31, 2017 1,735,000 Class N Warrants: (Issued for Private Placement) Warrants issued June 6, 2014 7,104,317 0.11 June 6, 2019 Warrants issued June 30, 2014 4,350,180 0.11 June 30, 2019 Warrants issued July 18, 2014 2,408,545 0.11 July 18, 2019 Outstanding and exercisable at December 31, 2016 13,863,042 Outstanding and exercisable at December 31, 2017 13,863,042 Class N-2 Warrants: (Issued for Finders Fees) Warrants issued July 18, 2014 2,701,386 .055 July 18, 2019 Outstanding and exercisable at December 31, 2016 2,701,386 Outstanding and exercisable at December 31, 2017 2,701,386 Class O Warrants: (Issued for Private Placement) Warrants issued March 31, 2015 5,000,000 .06 March 31, 2020 Outstanding and exercisable at December 31, 2016 5,000,000 Outstanding and exercisable at December 31, 2017 5,000,000 Class P Warrants: (Issued for Sale of GNP Distribution Interest) Warrants issued June 23, 2015 2,250,000 .07 June 23, 2020 Outstanding and exercisable at December 31, 2016 2,250,000 Outstanding and exercisable at December 31, 2017 2,250,000 Class P-2 Warrants: (Issued for Finders Fees) Warrants issued June 23, 2015 1,200,000 .05 June 23, 2020 Outstanding and exercisable at December 31, 2016 1,200,000 Outstanding and exercisable at December 31, 2017 1,200,000 Class Q Warrants: (Issued for Private Placement of Preferred Stock) Warrants issued December 8, 2015 8,333,333 .03 December 8, 2020 Outstanding and exercisable at December 31, 2016 8,333,333 Outstanding and exercisable at December 31, 2017 8,333,333 Class Q-2 Warrants: (Issued for Finders Fees) Warrants issued December 8, 2015 833,333 .03 December 8, 2020 Outstanding and exercisable at December 31, 2016 833,333 Outstanding and exercisable at December 31, 2017 833,333 Class S Warrants: (Issued for Private Placement) Warrants issued April 6, 2016 1,666,667 .045 April 6, 2021 Warrants Issued June 13, 2016 1,666,666 .045 June 13, 2021 Warrants Issued September 30, 2016 5,000,000 .045 September 30, 2021 Warrants Issued November 2, 2016 3,333,333 .045 November 2, 2021 Warrants Issued December 9, 2016 3,333,335 .045 December 9, 2021 Outstanding and exercisable at December 31, 2016 15,000,001 Outstanding and exercisable at December 31, 2017 15,000,001 Class S Warrants: (Issued for Private Placement of Preferred Stock) Warrants issued December 30, 2016 1,666,667 .03 December 30, 2021 Outstanding and exercisable at December 31, 2016 1,666,667 Warrants issued February 7, 2017 666,667 .03 February 7, 2022 Warrants issued March 1, 2017 833,333 .03 March 1, 2022 Warrants issued March 30, 2017 1,933,333 .03 March 30, 2012 Outstanding and exercisable at December 31, 2017 5,100,000 Class T Warrants: (Issued with Senior Secured Notes Payable) Warrants issued December 22, 2017 9,422,359 .03 December 22, 2022 Outstanding and exercisable at December 31, 2017 9,422,359 Weighted average exercise of warrants outstanding and weighted average exercise price at December 31, 2017 68,295,596 0.060 Stock Options and Stock-Based Compensation: Under the Company’s 2008 Equity Incentive Plan, as amended by shareholder vote on November 27, 2013 (the “Plan”), options to purchase shares of common stock may be granted to key employees, contract management and directors of the Company. The Plan permits the granting of nonqualified stock options, incentive stock options and shares of common stock. Upon exercise of options, shares of common stock are issued from the Company’s treasury stock or, if insufficient treasury shares are available, from authorized but unissued shares. Options are granted at a price equal to the closing price of the common stock on the date of grant. The stock options are generally exercisable immediately upon grant and for a period of 10 years. In the event of cessation of the holder’s relationship with the Company, the holder’s exercise period terminates 90 days following such cessation. A summary of stock option transactions for the years ended December 31, 2017 and 2016 are as follows: Activity for 2017 and 2016 Shares Weighted- Average Exercise Price (per share) Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Options outstanding at December 31, 2015 3,350,000 $ 0.24 3.81 Expired in 2016 (150,000) 0.52 Options outstanding at December 31, 2016 3,200,000 $ 0.22 2.98 $0 Expired in 2017 (300,000) 0.20 Options outstanding and exercisable at December 31, 2017 2,900,000 $ 0.23 2.25 $0 There were no options issued or exercised during 2017 and 2016. For the year ended December 31, 2017 and 2016, the Company recognized no share-based compensation for employees and directors. As of December 31, 2017, the intrinsic value of options outstanding and exercisable was $nil. Accounts Payable Satisfied with Common Stock During the year ended December 31, 2017, the Company issued 2,875,000 shares of common stock with a fair value of $109,250 at $0.038 per share, based on then-current market, to satisfy $188,864 of accounts payable and accrued liabilities, resulting in a gain of $79,614.

9. Asset Retirement Obligation

9. Asset Retirement Obligation	12 Months Ended
	Dec. 31, 2017
Notes
9. Asset Retirement Obligation	9. ASSET RETIREMENT OBLIGATION Remediation, reclamation and mine closure costs are based principally on legal and regulatory requirements. Management estimates costs associated with reclamation of mining properties as well as remediation costs for inactive properties. The Company uses assumptions about future costs, capital costs and reclamation costs. Such assumptions are based on the Company’s current mining plan and the best available information for making such estimates. In calculating the present value of the asset retirement obligation the Company used a credit-adjusted risk free interest rate of 4% and a projected mine life of 20 years. On an ongoing basis, management evaluates its estimates and assumptions; however, actual amounts could differ from those based on such estimates and assumptions. Changes to the Company’s asset retirement obligation on its Chandalar property are as follows: December 31, 2017 December 31, 2016 Asset Retirement Obligation – beginning balance $ 321,540 $ 309,173 Incurred - - Accretion 12,862 12,367 Asset Retirement Obligation - ending balance (long term) $ 334,402 $ 321,540

10. Remediation

10. Remediation	12 Months Ended
	Dec. 31, 2017
Notes
10. Remediation	10. REMEDIATION The Company is responsible to remediate areas disturbed by mining activities, with the exception of certain access roads, airstrips or other amenities that are permanent in nature and improve the general access and maintainability of state lands covered by the Company’s mining claims. The Company has accrued $50,000 for remedies required at a former owner’s mine site above the asset retirement obligation as of December 31, 2017 and 2016.

11. Income Taxes

11. Income Taxes	12 Months Ended
	Dec. 31, 2017
Notes
11. Income Taxes	11. INCOME TAXES The Company did not recognize a tax provision for the years ended December 31, 2017 and 2016. Following are the components of deferred tax assets and allowances at December 31, 2017 and 2016: 2017 2016 Deferred tax assets arising from: Capitalized exploration and development costs $ 37,000 $ 50,000 Unrecovered promotional and exploratory costs 112,000 153,000 Accrued remediation costs 42,000 53,000 Share based compensation 278,000 381,000 Net operating loss carryforwards 11,516,000 16,122,000 Total deferred tax assets 11,985,000 16,759,000 Less valuation allowance (11,985,000) (16,759,000) Net deferred tax assets $ 0 $ 0 Management has determined that it is more likely than not that the Company will not realize the benefit of its deferred tax assets. Therefore a valuation allowance equal to 100% of deferred tax asset has been recognized. The deferred tax assets were calculated based on an effective tax rate of 30% for 2017 and 41.1% for 2016. During the year ended December 31, 2016, the Company filed amended tax returns to correct allocations of Joint Venture losses reported to the Company for the years ending 2012 through 2015, resulting in an increase in losses reported on its federal and state tax returns of $7.5 million and $6.8 million, respectively. At December 31, 2017, the Company had federal and state tax-basis net operating loss carryforwards totaling $37.9 million and $36.3 million, respectively, compared with federal and state tax-basis net operating loss carryforwards totaling $37.0 million and $35.5 million for the period ended December 31, 2016. These net operating losses will expire in various amounts from 2018 through 2037. The differences between the provision (benefit) for federal income taxes and federal income taxes computed using the U.S. statutory tax rate of 35% were as follows: 2017 2016 Federal income tax expense (benefit) based on statutory rate $ (328,000) 34.0% $ (249,000) 34.0% State income tax expense (benefit), net of federal taxes (83,000) 8.6% (52,000) 7.0% Revision of NOL estimates, state apportionment factors and state effective tax rates 54,000 (5.6)% (5,427,000) 740.1% Change in Federal tax rate 5,131,000 (531.5)% - -% Increase (decrease) in valuation allowance (4,774,000) 494.5% 5,728,000 (781.1)% Total taxes on income (loss) $ 0 -% $ 0 -% On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the “Act”) resulting in significant modifications to existing law. We have completed the accounting for the effects of the Act during the quarter ended December 31, 2017. Our financial statements for the year ended December 31, 2017 reflect certain effects of the Act which includes a reduction in the corporate tax rate from 35% to 21% as well as other changes. As a result of the changes to tax laws and tax rates under the Act, we incurred incremental changes to deferred tax liability of $5,136,000 during the year ended December 31, 2017, which consisted primarily of the remeasurement of deferred tax assets from 35% to 21% and application of a full valuation allowance. The Company has assessed its tax positions and has determined that it has not taken a position that would give rise to an unrecognized tax liability being reported. In the event that the Company is assessed penalties and/or interest, penalties will be charged to other operating expense and interest will be charged to interest expense. The Company files federal income tax returns in the United States only. Tax attributes, mainly net operating losses prior to 2014, can be adjusted during an audit. The Company’s 2015 and 2016 tax filings are currently under examination. The Company is no longer subject to federal income tax examination by tax authorities for years before 2012.

12. Commitments and Contingenci

12. Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Notes
12. Commitments and Contingencies	12. 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 2018 and 2017. November 30, 2018 November 30, 2017 Claims Rental $ 90,670 $ 90,570 Annual Labor 61,100 61,100 Yearly Totals $ 151,770 $ 151,670 The Company has a carryover to 2018 of approximately $22.3 million to satisfy its annual labor requirements. This carryover expires in the years 2018 through 2023 if unneeded to satisfy requirements in those years.

13. Subsequent Events

13. Subsequent Events	12 Months Ended
	Dec. 31, 2017
Notes
13. Subsequent Events	13. SUBSEQUENT EVENTS See Note 6, Note Payable

2. Summary of Significant Acc20

2. Summary of Significant Accounting Policies: Accounting For Investments in Joint Ventures (Policies)	12 Months Ended
	Dec. 31, 2017
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 venture’s 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 4 Joint Venture 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. The Company periodically assesses its investments in joint ventures for impairment. If management determines that a decline in fair value is other than temporary it will write-down the investment and charge the impairment against operations.

2. Summary of Significant Acc21

2. Summary of Significant Accounting Policies: Earnings (loss) Per Share (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Earnings (loss) Per Share	Earnings (Loss) Per Share We are authorized to issue 250,000,000 shares of common stock, $0.10 par value per share. At December 31, 2017, there were 134,107,809 shares of our common stock issued and outstanding. For the years ended December 31, 2017 and 2016, the effect of the Company’s outstanding preferred shares, options and warrants, totaling 103,386,073 and 87,397,046 for the two years, respectively, would have been anti-dilutive.

2. Summary of Significant Acc22

2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09 Revenue Recognition, replacing guidance currently codified in Subtopic 605-10 Revenue Recognition-Overall with various SEC Staff Accounting Bulletins providing interpretive guidance. The new ASU establishes a new five step principles-based framework in an effort to significantly enhance comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. In August 2015, the FASB issued ASU No. 2015-14 Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. ASU No. 2015-14 defers the effective date of ASU No. 2014-09 until annual and interim reporting periods beginning after December 15, 2017. The Company has performed an assessment of the impact of implementation of ASU No. 2014-09, and concluded it will not change the timing of revenue recognition or amounts of revenue recognized compared to how revenue is recognized under current policies. ASU No. 2014-09 will require additional disclosures, where applicable, on (i) contracts with customers, (ii) significant judgments and changes in judgments in determining the timing of satisfaction of performance obligations and the transaction price, and (iii) assets recognized for costs to obtain or fulfill contracts. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842). The update modifies the classification criteria and requires lessees to recognize the assets and liabilities on the balance sheet for most leases. The update is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the potential impact of implementing this update on the consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. The update provides guidance on classification for cash receipts and payments related to eight specific issues. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of implementing this update on the consolidated financial statements. In November 2016, the FASB issued ASU No. 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash. The update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company does not expect this update to have a material impact on the consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01 Business Combinations (Topic 805): Clarifying the Definition of a Business. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will apply the provisions of the update to potential future acquisitions occurring after the effective date. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption.

2. Summary of Significant Acc23

2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents For the purposes of the statement of cash flows, we consider all highly liquid investments with original maturities of three months or less when purchased to be cash equivalents.

2. Summary of Significant Acc24

2. Summary of Significant Accounting Policies: Reclassifications (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Reclassifications	Reclassifications Certain reclassifications have been made to conform prior year’s data to the current presentation. These reclassifications have no effect on the results of reported operations or stockholders’ deficit or cash flows.

2. Summary of Significant Acc25

2. Summary of Significant Accounting Policies: Use of Estimates (Policies)	12 Months Ended
	Dec. 31, 2017
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, fourth quarter production figures, accrued remediation costs, asset retirement obligations, stock based compensation, and deferred tax assets and related valuation allowances. Actual results could differ from those estimates.

2. Summary of Significant Acc26

2. Summary of Significant Accounting Policies: Plant, Equipment, and Accumulated Depreciation (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Plant, Equipment, and Accumulated Depreciation	Property, Equipment, and Accumulated Depreciation Property and equipment are stated at cost, which is determined by cash paid or fair value of the shares of the Company’s common stock issued. The Company’s property and equipment are located on the Company’s unpatented state mining claims located in the Chandalar mining district of Alaska. All property and equipment purchased prior to 2009 are fully depreciated. The Company’s equipment is located at the Chandalar property in Alaska, with a small amount of office equipment located at Company offices in Spokane, Washington. Assets are depreciated on a straight-line basis. Improvements which significantly increase an asset’s value or significantly extend its useful life are capitalized and depreciated over the asset’s remaining useful life. When a fixed asset is sold at a price either higher or lower than its carrying amount, or undepreciated cost at the date of disposal, the difference between the sale proceeds over the carrying amount is recognized as gain, while a loss is recognized when the carrying amount exceeds the sale proceeds. The gain or loss is recognized in the Consolidated Statements of Operations.

2. Summary of Significant Acc27

2. Summary of Significant Accounting Policies: Mining Properties, Claims and Royalty Option (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Mining Properties, Claims and Royalty Option	Mining Properties, Claims, and Royalty Option The Company capitalizes costs for acquiring mineral properties, claims and royalty option and expenses costs to maintain mineral rights and leases as incurred. Should a property reach the production stage, these capitalized costs would be amortized using the units-of-production method on the basis of periodic estimates of ore reserves. Mineral properties are periodically assessed for impairment of value, and any subsequent losses are charged to operations at the time of impairment. If a property is abandoned or sold, its capitalized costs are charged to operations.

2. Summary of Significant Acc28

2. Summary of Significant Accounting Policies: Exploration Costs (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Exploration Costs	Exploration Costs Exploration costs are expensed in the period in which they occur.

2. Summary of Significant Acc29

2. Summary of Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Income Taxes	Income Taxes Income taxes are recognized in accordance with Accounting Standards Codification (“ASC”) 740 Income Taxes, whereby deferred income tax liabilities or assets at the end of each period are determined using the tax rate expected to be in effect when the taxes are actually paid or recovered. A valuation allowance is recognized on deferred tax assets when it is more likely than not that some or all of these deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and measurement attribute for the recognition and measurement of a tax position taken or expected to be taken in a tax return.

2. Summary of Significant Acc30

2. Summary of Significant Accounting Policies: Revenue Recognition (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Revenue Recognition	Revenue Recognition The Company does not have joint control or significant influence over the joint venture; therefore, distributions from our joint venture are recognized using the cost method. At the conclusion of 2017 and 2016, Goldrich was allocated a distribution from its joint venture partner of $218,770 and $67,580, respectively. See note 4, Joint Venture.

2. Summary of Significant Acc31

2. Summary of Significant Accounting Policies: Stock-based Compensation (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Stock-based Compensation	Stock-Based Compensation The Company periodically issues common shares or options to purchase shares of the Company’s common shares to its officers, directors or other parties. These issuances are recorded at fair value. The Company uses a Black Scholes valuation model for determining fair value of options to purchase shares, and compensation expense is recognized ratably over the vesting periods on a straight line basis. Compensation expense for grants that vest immediately are recognized in the period of grant.

2. Summary of Significant Acc32

2. Summary of Significant Accounting Policies: Remediation (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Remediation	Remediation The Company’s operations have been, and are subject to, standards for mine reclamation that have been established by various governmental agencies. The Company records the fair value of an asset retirement obligation as a liability in the period in which the Company incurs a legal obligation for the retirement of tangible long-lived assets. A corresponding asset is also recorded and depreciated over the life of the long lived asset using a units of production method. After the initial measurement of the asset retirement obligation, the liability will be adjusted at the end of each reporting period to reflect changes in the estimated future cash flows underlying the obligation. Determination of any amounts recognized is based upon numerous estimates and assumptions, including future retirement costs, future inflation rates and the credit-adjusted risk-free interest rates. For non-operating properties, the Company accrues costs associated with environmental remediation obligations when it is probable that such costs will be incurred and they are reasonably estimable. Such costs are based on management’s estimate of amounts expected to be incurred when the remediation work is performed.

2. Summary of Significant Acc33

2. Summary of Significant Accounting Policies: Fair Value Measurements (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Fair Value Measurements	Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. During 2017 and 2016, the Company determined fair value on a recurring basis and non-recurring basis as follows: Balance December 31, 2017 Balance December 31, 2016 Fair Value Hierarchy level Liabilities Recurring: Notes payable in gold (Note 7) $ 355,950 $ 412,261 2 The carrying amounts of financial instruments, including notes payable, approximate fair value at December 31, 2017 and 2016.

2. Summary of Significant Acc34

2. Summary of Significant Accounting Policies: Derivatives (Policies)	12 Months Ended
	Dec. 31, 2017
Policies
Derivatives	Derivatives The Company measures derivative contracts as assets or liabilities based on their fair value. Gains or losses resulting from changes in the fair value of derivatives in each period are recorded in current operating results. None of the Company’s derivative contracts qualify for hedge accounting. The Company does not hold or issue derivative financial instruments for speculative trading purposes.

2. Summary of Significant Acc35

2. Summary of Significant Accounting Policies: Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Balance December 31, 2017 Balance December 31, 2016 Fair Value Hierarchy level Liabilities Recurring: Notes payable in gold (Note 7) $ 355,950 $ 412,261 2

3. Property, Equipment and Mi36

3. Property, Equipment and Mining Claims: Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Property, Plant and Equipment	2017 2016 Exploration and mining equipment $ 1,627,351 $ 1,627,351 Vehicles and rolling stock 390,140 390,140 Office and other equipment 65,549 65,548 Total 2,083,040 2,083,039 Accumulated depreciation (2,076,171) (2,063,442) Equipment, net of depreciation $ 6,869 $ 19,597

3. Property, Equipment and Mi37

3. Property, Equipment and Mining Claims: Schedule of Mining Properties and Claims (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Mining Properties and Claims	2017 2016 Chandalar property and claims $ 264,000 $ 264,000 2003 purchased claims 35,000 35,000 Unpatented state claims staked 40,400 40,400 Asset retirement costs 242,766 242,766 Jumbo Basin royalty option ( Note 4 286,350 67,580 Total $ 868,516 $ 649,746

6. Notes Payable_ Fair Value In

6. Notes Payable: Fair Value Inputs, Assets, Quantitative Information (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Fair Value Inputs, Assets, Quantitative Information	Market price of common stock on date of issuance $0.0299 Risk-free interest rate 2.26% Expected dividend yield 0 Expected term (in years) 5 Expected volatility 162.4%

8. Stockholders' Equity_ Schedu

8. Stockholders' Equity: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Stockholders' Equity Note, Warrants or Rights	Shares Exercise Price ($) Expiration Date Class H Warrants: (Issued for Private Placement) Warrants issued 2011 5,125,936 0.30 Warrants expired May 31, 2016 (5,125,936) Outstanding and exercisable at December 31, 2016 - Outstanding and exercisable at December 31, 2017 - Class I Warrants: (Issued for Private Placement) Warrants issued 2011 13,906,413 0.40 Warrants expired May 31, 2016 (13,906,413) Outstanding and exercisable at December 31, 2016 - Outstanding and exercisable at December 31, 2017 - Class J Warrants: (Issued for Private Placement) Warrants issued 2011 8,780,478 0.30 Warrants expired July 29, 2016 (8,780,478) Outstanding and exercisable at December 31, 2016 - Outstanding and exercisable at December 31, 2017 - Class L Warrants: (Issued for Private Placement of Preferred Stock) Warrants issued January 23, 2014 2,857,142 0.10 January 23, 2019 Outstanding and exercisable at December 31, 2016 2,857,142 Outstanding and exercisable at December 31, 2017 2,857,142 Class M Warrants: (Issued for Note Payable) Warrants issued January 29, 2014 1,735,000 0.15 January 29, 2019 Outstanding and exercisable at December 31, 2016 1,735,000 Outstanding and exercisable at December 31, 2017 1,735,000 Class N Warrants: (Issued for Private Placement) Warrants issued June 6, 2014 7,104,317 0.11 June 6, 2019 Warrants issued June 30, 2014 4,350,180 0.11 June 30, 2019 Warrants issued July 18, 2014 2,408,545 0.11 July 18, 2019 Outstanding and exercisable at December 31, 2016 13,863,042 Outstanding and exercisable at December 31, 2017 13,863,042 Class N-2 Warrants: (Issued for Finders Fees) Warrants issued July 18, 2014 2,701,386 .055 July 18, 2019 Outstanding and exercisable at December 31, 2016 2,701,386 Outstanding and exercisable at December 31, 2017 2,701,386 Class O Warrants: (Issued for Private Placement) Warrants issued March 31, 2015 5,000,000 .06 March 31, 2020 Outstanding and exercisable at December 31, 2016 5,000,000 Outstanding and exercisable at December 31, 2017 5,000,000 Class P Warrants: (Issued for Sale of GNP Distribution Interest) Warrants issued June 23, 2015 2,250,000 .07 June 23, 2020 Outstanding and exercisable at December 31, 2016 2,250,000 Outstanding and exercisable at December 31, 2017 2,250,000 Class P-2 Warrants: (Issued for Finders Fees) Warrants issued June 23, 2015 1,200,000 .05 June 23, 2020 Outstanding and exercisable at December 31, 2016 1,200,000 Outstanding and exercisable at December 31, 2017 1,200,000 Class Q Warrants: (Issued for Private Placement of Preferred Stock) Warrants issued December 8, 2015 8,333,333 .03 December 8, 2020 Outstanding and exercisable at December 31, 2016 8,333,333 Outstanding and exercisable at December 31, 2017 8,333,333 Class Q-2 Warrants: (Issued for Finders Fees) Warrants issued December 8, 2015 833,333 .03 December 8, 2020 Outstanding and exercisable at December 31, 2016 833,333 Outstanding and exercisable at December 31, 2017 833,333 Class S Warrants: (Issued for Private Placement) Warrants issued April 6, 2016 1,666,667 .045 April 6, 2021 Warrants Issued June 13, 2016 1,666,666 .045 June 13, 2021 Warrants Issued September 30, 2016 5,000,000 .045 September 30, 2021 Warrants Issued November 2, 2016 3,333,333 .045 November 2, 2021 Warrants Issued December 9, 2016 3,333,335 .045 December 9, 2021 Outstanding and exercisable at December 31, 2016 15,000,001 Outstanding and exercisable at December 31, 2017 15,000,001 Class S Warrants: (Issued for Private Placement of Preferred Stock) Warrants issued December 30, 2016 1,666,667 .03 December 30, 2021 Outstanding and exercisable at December 31, 2016 1,666,667 Warrants issued February 7, 2017 666,667 .03 February 7, 2022 Warrants issued March 1, 2017 833,333 .03 March 1, 2022 Warrants issued March 30, 2017 1,933,333 .03 March 30, 2012 Outstanding and exercisable at December 31, 2017 5,100,000 Class T Warrants: (Issued with Senior Secured Notes Payable) Warrants issued December 22, 2017 9,422,359 .03 December 22, 2022 Outstanding and exercisable at December 31, 2017 9,422,359 Weighted average exercise of warrants outstanding and weighted average exercise price at December 31, 2017 68,295,596 0.060

8. Stockholders' Equity_ Share-

8. Stockholders' Equity: Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding	Activity for 2017 and 2016 Shares Weighted- Average Exercise Price (per share) Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Options outstanding at December 31, 2015 3,350,000 $ 0.24 3.81 Expired in 2016 (150,000) 0.52 Options outstanding at December 31, 2016 3,200,000 $ 0.22 2.98 $0 Expired in 2017 (300,000) 0.20 Options outstanding and exercisable at December 31, 2017 2,900,000 $ 0.23 2.25 $0

9. Asset Retirement Obligation_

9. Asset Retirement Obligation: Schedule of Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Asset Retirement Obligations	December 31, 2017 December 31, 2016 Asset Retirement Obligation – beginning balance $ 321,540 $ 309,173 Incurred - - Accretion 12,862 12,367 Asset Retirement Obligation - ending balance (long term) $ 334,402 $ 321,540

11. Income Taxes_ Schedule of C

11. Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Components of Income Tax Expense (Benefit)	2017 2016 Deferred tax assets arising from: Capitalized exploration and development costs $ 37,000 $ 50,000 Unrecovered promotional and exploratory costs 112,000 153,000 Accrued remediation costs 42,000 53,000 Share based compensation 278,000 381,000 Net operating loss carryforwards 11,516,000 16,122,000 Total deferred tax assets 11,985,000 16,759,000 Less valuation allowance (11,985,000) (16,759,000) Net deferred tax assets $ 0 $ 0

11. Income Taxes_ Schedule of E

11. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	2017 2016 Federal income tax expense (benefit) based on statutory rate $ (328,000) 34.0% $ (249,000) 34.0% State income tax expense (benefit), net of federal taxes (83,000) 8.6% (52,000) 7.0% Revision of NOL estimates, state apportionment factors and state effective tax rates 54,000 (5.6)% (5,427,000) 740.1% Change in Federal tax rate 5,131,000 (531.5)% - -% Increase (decrease) in valuation allowance (4,774,000) 494.5% 5,728,000 (781.1)% Total taxes on income (loss) $ 0 -% $ 0 -%

12. Commitments and Contingen44

12. Commitments and Contingencies: Patented and nonpatented claims, annual costs (Tables)	12 Months Ended
	Dec. 31, 2017
Tables/Schedules
Patented and nonpatented claims, annual costs	November 30, 2018 November 30, 2017 Claims Rental $ 90,670 $ 90,570 Annual Labor 61,100 61,100 Yearly Totals $ 151,770 $ 151,670

1. Organization and Descripti45

1. Organization and Description of Business (Details)	12 Months Ended
	Dec. 31, 2017
Details
Entity Incorporation, State Country Name	Alaska
Entity Incorporation, Date of Incorporation	Mar. 26, 1959
Substantial Doubt about Going Concern	Going Concern The accompanying consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. The Company has incurred losses since its inception and 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. The Company currently has no historical recurring source of revenue and in 2016 received its first cash distribution from the joint venture (Note 4). If these distributions increase in future years and the Company profitably executes its business plan, its ability to continue as a going concern may improve and become less dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. 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.
Substantial Doubt about Going Concern, Management's Evaluation	The Company currently has no historical recurring source of revenue and in 2016 received its first cash distribution from the joint venture (Note 4). If these distributions increase in future years and the Company profitably executes its business plan, its ability to continue as a going concern may improve and become less dependent on the Company’s ability to raise capital to fund its future exploration and working capital requirements. 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.

2. Summary of Significant Acc46

2. Summary of Significant Accounting Policies: Earnings (loss) Per Share (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Par Value	$ 0.10	$ 0.10
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	103,386,073	87,397,046

2. Summary of Significant Acc47

2. Summary of Significant Accounting Policies: Revenue Recognition (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Proceeds from Equity Method Investment, Distribution	$ 218,770	$ 67,580

3. Property, Equipment and Mi48

3. Property, Equipment and Mining Claims: Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Details
Exploration and mining equipment	$ 1,627,351	$ 1,627,351
Vehicles and rolling stock	390,140	390,140
Office and other equipment	65,549	65,548
Property, Plant and Equipment, Gross	2,083,040	2,083,039
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Excluding Capital Leased Assets	(2,076,171)	(2,063,442)
Property, Plant, and Equipment, Owned, Net	$ 6,869	$ 19,597

3. Property, Equipment and Mi49

3. Property, Equipment and Mining Claims (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Assets depreciated at three to five years	$ 1,319,341	$ 1,319,341
Assets depreciated at seven to ten years	763,699	763,699
Depreciation	$ 12,729	$ 28,289

3. Property, Equipment and Mi50

3. Property, Equipment and Mining Claims: Schedule of Mining Properties and Claims (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Details
Property and claims	$ 264,000	$ 264,000
Purchased claims	35,000	35,000
Unpatented state claims staked	40,400	40,400
Asset retirement costs	242,766	242,766
Jumbo Basin royalty option	286,350	67,580
Property, Plant and Equipment, Other, Gross	$ 868,516	$ 649,746

4. Joint Venture (Details)

4. Joint Venture (Details) - USD ($)	Jun. 23, 2015	Dec. 31, 2017
ProceedsFromSaleOfCashFlowPercentageMember
Proceeds from Sale of Equity Method Investments	$ 1,100,000
Percent of cash flow sold	$ 12.5
Accrued Liabilities and Other Liabilities		$ 35,794
Proceeds from Equity Method Investment, Distribution, Return of Capital		218,770
Jumbo Basin
Other Notes Payable		$ 95,239

5. Related Party Transactions (

5. Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Management fees and salaries	$ 225,655	$ 217,844
CEO
Accrued Salaries, Current	192,500	127,500
CFO
Accrued Salaries, Current	35,202	35,093
Management fees and salaries	$ 45,656	$ 45,344

6. Notes Payable (Details)

6. Notes Payable (Details) - USD ($)	Feb. 13, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 24, 2014
Cash paid for interest		$ 102,461	$ 75,753
Proceeds from notes payable and warrants	$ 1,794,737	1,705,000
Notes payable, net of discount		1,513,990	297,508
Unsecured debt
Unsecured Debt				$ 300,000
Cash paid for interest		24,333	$ 45,000
Senior Secured Note 1
Cash paid for interest		8,669
Gross proceeds from note payable before discount		1,794,737
Proceeds from notes payable and warrants		1,705,000
Senior Secured Note 1 available amount		495,000
Payments for Other Fees		30,000
Accounts Payable and Accrued Liabilities		20,000
Finance and Placement Costs		21,000
Debt Instrument, Increase, Accrued Interest		$ 39,417
Class T warrants
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Warrants Issued		9,422,359
Investment Warrants, Exercise Price		$ 0.03
Summation
Notes Payable		$ 1,794,737
Debt Instrument, Unamortized Discount		280,747
Notes payable, net of discount		$ 1,513,990

6. Notes Payable_ Fair Value 54

6. Notes Payable: Fair Value Inputs, Assets, Quantitative Information (Details) - Senior Secured Note 1	12 Months Ended
	Dec. 31, 2017$ / shares
Shares Issued, Price Per Share	$ 0.0299
Fair Value Assumptions, Risk Free Interest Rate	2.26%
Fair Value Assumptions, Expected Dividend Rate	0.00%
Fair Value Assumptions, Expected Term, Simplified Method	5
Fair Value Assumptions, Expected Volatility Rate	162.40%

7. Notes Payable in Gold (Detai

7. Notes Payable in Gold (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2013	Dec. 31, 2016
Details
Principal amount of notes payable in gold		$ 820,000
Discount on notes payable in gold		205,000
Proceeds from notes payable in gold and warrants, net		$ 615,000
Notes payable in gold	$ 355,950		$ 412,261
Change in fair value, notes payable in gold	$ 40,984

8. Stockholders' Equity_ Sche56

8. Stockholders' Equity: Schedule of Stockholders' Equity Note, Warrants or Rights (Details)	Dec. 31, 2017$ / sharesshares
Details
All classes of warrants outstanding | shares	68,295,596
Weighted average exercise price of warrants | $ / shares	$ 0.060

8. Stockholders' Equity_ Shar57

8. Stockholders' Equity: Share-based Compensation Arrangements by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares	Dec. 31, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares
Details
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	2,900,000	3,200,000	3,350,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares	$ 0.23	$ 0.22	$ 0.24
Weighted Averate Remaining Term	2.25	2.98	3.81
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | shares	(300,000)	(150,000)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $ / shares	$ 0.20	$ 0.52

9. Asset Retirement Obligatio58

9. Asset Retirement Obligation: Schedule of Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Asset Retirement Obligation - beginning balance	$ 321,540	$ 309,173
Accretion Expense	12,862	12,367
Costs Incurred, Asset Retirement Obligation Incurred	$ 334,402	$ 321,540

10. Remediation (Details)

10. Remediation (Details)	Dec. 31, 2017USD ($)
Details
Environmental Exit Costs, Assets Previously Disposed, Liability for Remediation	$ 50,000

11. Income Taxes_ Schedule of60

11. Income Taxes: Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Deferred Tax Assets, Capital Loss Carryforwards	$ 37,000	$ 50,000
Deferred Tax Assets, Other Loss Carryforwards	112,000	153,000
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount	42,000	53,000
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount	278,000	381,000
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount	11,516,000	16,122,000
Deferred Tax Assets, Gross	11,985,000	16,759,000
Deferred Tax Assets, Valuation Allowance	(11,985,000)	(16,759,000)
Deferred Tax Assets, Net of Valuation Allowance	$ 0	$ 0

11. Income Taxes (Details)

11. Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Increase Decrease in losses reported on its federal and state tax returns	$ 6,800,000
Increase Decrease in losses reported on state tax returns		$ 6,800,000
Deferred Tax Assets, Operating Loss Carryforwards	37,900,000	37,000,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	35,500,000
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 5,136,000	$ 5,728,000

11. Income Taxes_ Schedule of62

11. Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Details
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	$ (328,000)	$ (249,000)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount	$ (83,000)	$ (52,000)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	8.60%	7.00%
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 54,000	$ (5,427,000)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	(5.60%)	740.10%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 5,131,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	(531.50%)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 5,136,000	$ 5,728,000
Effective Income Tax Rate Reconciliation,Other Reconciling Items, Percent	494.50%	(781.10%)
Income Tax Expense (Benefit)	$ 0	$ 0

12. Commitments and Contingen63

12. Commitments and Contingencies: Patented and nonpatented claims, annual costs (Details) - USD ($)	Nov. 30, 2018	Nov. 30, 2017
Details
Claims rental	$ 90,670	$ 90,570
Annual labor requirement	61,100	61,100
Non-patented claims expense	$ 151,770	$ 151,670