Goldrich Mining (GRMC) 10-Q 4 Nov 20 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 04, 2020
Details
Registrant CIK	0000059860
Fiscal Year End	--12-31
Registrant Name	GOLDRICH MINING COMPANY
SEC Form	10-Q
Period End date	Sep. 30, 2019
Trading Symbol	GRMC
Trading Exchange	NONE
Tax Identification Number (TIN)	91-0742812
Number of common stock shares outstanding		167,926,376
Filer Category	Non-accelerated Filer
Current with reporting	No
Interactive Data Current	No
Shell Company	false
Small Business	true
Emerging Growth Company	false
Entity File Number	001-06412
Entity Incorporation, State or Country Code	AK
Entity Address, Address Line One	2607 Southeast Blvd, Ste. B211
Entity Address, City or Town	Spokane
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	99223-4942
City Area Code	509
Local Phone Number	535-7367
Title of 12(g) Security	Common Stock, $0.10 par value
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false

Goldrich Mining Company Consoli

Goldrich Mining Company Consolidated Balance Sheets (Unaudited) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 4,841	$ 77,178
Prepaid expenses		214,249	122,131
Other current assets		7,113	13,671
Total current assets		226,203	212,980
Property, equipment, and mining claims:
Equipment, net of accumulated depreciation		1,044	2,025
Mining properties, claims, and royalty option		868,516	868,516
Total property, equipment and mining claims		869,560	870,541
Total assets		1,095,763	1,083,521
Current liabilities:
Accounts payable and accrued liabilities		1,306,045	1,052,520
Interest payable		173,844	44,747
Interest payable - related party		222,312	205,570
Related parties payables		566,663	457,727
Notes payable		1,020,000	952,634
Notes payable - related party		2,914,737	2,378,947
Notes payable in gold		396,261	342,157
Dividends payable on preferred stock		30,618	30,618
Total current liabilities		6,630,480	5,464,920
Long-term liabilities:
Interest payable in stock		36,813	0
Interest payable in stock - related party		168,976	0
Remediation and asset retirement obligation		458,211	447,778
Total long-term liabilities		664,000	447,778
Total liabilities		7,294,480	5,912,698
Commitments and contingencies (Notes 3, 4, 5, 7)	[1]
Stockholders' deficit:
Preferred stock; no par value, 8,998,700 shares authorized; no shares issued or outstanding		0	0
Preferred Stock Series A Value		150,000	150,000
Preferred Stock Series B Value		57,758	57,758
Preferred Stock Series C Value		52,588	52,588
Preferred Stock Series D Value		0	0
Preferred Stock Series E Value		10,829	10,829
Preferred Stock Series F Value		0	0
Common stock; $0.10 par value, 250,000,000 shares authorized; 139,573,798 issued and outstanding, respectively		13,957,380	13,957,380
Additional paid-in capital		13,901,626	13,832,978
Accumulated deficit		(34,328,898)	(32,890,710)
Total stockholders' deficit		(6,198,717)	(4,829,177)
Total liabilities and stockholders' deficit		$ 1,095,763	$ 1,083,521
[1]	BS1

Goldrich Mining Company Conso_2

Goldrich Mining Company Consolidated Balance Sheets (Unaudited) - Parenthetical - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	8,998,700	8,998,700
Common Stock, Par or Stated Value Per Share	$ 0.10	$ 0.10
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Outstanding	139,573,798	139,573,798
Series A
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Outstanding	150,000	150,000
Series B
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	300	300
Preferred Stock, Shares Outstanding	200	200
Series C
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	250	250
Preferred Stock, Shares Outstanding	250	250
Series D
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	150	150
Preferred Stock, Shares Outstanding	150	150
Series E
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	300	300
Preferred Stock, Shares Outstanding	300	300
Series F
Preferred Stock, No Par Value	$ 0	$ 0
Preferred Stock, Shares Authorized	300	300
Preferred Stock, Shares Outstanding	153	153

Goldrich Mining Company Conso_3

Goldrich Mining Company Consolidated Statements of Income (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating expenses:
Exploration		$ 0	$ 105,264	$ 0	$ 144,951
Mine preparation costs		132,477	0	197,952	0
Depreciation and amortization		328	430	982	4,464
Management fees and salaries		53,469	66,250	170,219	258,502
Professional services		8,970	29,839	49,933	72,613
General and administration		65,744	81,065	177,955	224,319
Office supplies and other		1,096	1,463	4,839	5,711
Directors' fees		6,000	0	15,200	12,900
Mineral property maintenance		24,246	22,651	69,581	67,936
Arbitration (Note 3)	[1]	140,129	871,324	120,826	1,600,687
Total operating expenses		432,459	1,178,286	807,487	2,392,083
Other expense:
Change in fair value of notes payable in gold		20,356	4,322	54,104	(27,933)
Interest expense and finance costs		192,955	307,188	576,577	654,738
Loss on foreign exchange		0	0	20	0
Total other expense		213,311	311,510	630,701	626,805
Net loss		645,770	1,489,796	1,438,188	3,018,888
Preferred dividends		1,917	1,917	5,688	5,688
Net loss available to common stockholders		$ 647,687	$ 1,491,713	$ 1,443,876	$ 3,024,576
Net loss per common share - basic and diluted		$ 0	$ (0.01)	$ (0.01)	$ (0.02)
Weighted average common shares outstanding - basic and diluted		139,573,798	139,573,798	139,573,798	136,189,131
[1]	IS1

Goldrich Mining Company Conso_4

Goldrich Mining Company Consolidated Statements of Stockholders' (Deficit) (Unaudited) - USD ($)	Common Stock	Preferred Stock	Additional Paid-in Capital	Retained Earnings	Total
Equity balance at Dec. 31, 2017	$ 13,410,781	$ 271,175	$ 14,016,932	$ (29,110,761)	$ (1,411,873)
Shares outstanding at Dec. 31, 2017	134,107,809	151,053
Net loss				(401,190)	(401,190)
Shares outstanding at Mar. 31, 2018	134,107,809	151,053
Equity balance at Mar. 31, 2018	$ 13,410,781	$ 271,175	14,016,932	(29,511,951)	(1,813,063)
Warrants issued with notes payable			57,421		57,421
Shares issued for accounts and related party payables	3,615,989
Shares issued for accounts and related party payables	$ 361,599		(220,301)		141,298
Shares granted to directors and officers	1,850,000
Shares granted to directors and officers	$ 185,000		(120,435)		64,565
Other			(25,520)		(25,520)
Net loss				(1,127,922)	(1,127,922)
Shares outstanding at Jun. 30, 2018	139,573,798	151,053
Equity balance at Jun. 30, 2018	$ 13,957,380	$ 271,175	13,708,097	(30,639,873)	(2,703,221)
Warrants issued with notes payable			68,589		68,589
Net loss				(1,489,796)	(1,489.796)
Shares outstanding at Sep. 30, 2018	139,573,798	151,053
Equity balance at Sep. 30, 2018	$ 13,957,380	$ 271,175	13,776,686	(32,129,669)	(4,124,428)
Equity balance at Dec. 31, 2018	$ 13,957,380	$ 271,175	13,832,978	(32,890,710)	(4,829,177)
Shares outstanding at Dec. 31, 2018	139,573,798	151,053
Warrants issued with notes payable			7,754		7,754
Stock issued value warrants issued finders fees			25,864		25,864
Net loss				(383,542)	(383,542)
Shares outstanding at Mar. 31, 2019	139,573,798	151,053
Equity balance at Mar. 31, 2019	$ 13,957,380	$ 271,175	13,866,596	(33,274,252)	(5,179,101)
Warrants issued with notes payable			7,845		7,845
Stock issued value warrants issued finders fees			491		491
Net loss				(408,876)	(408,876)
Shares outstanding at Jun. 30, 2019	139,573,798	151,053
Equity balance at Jun. 30, 2019	$ 13,957,380	$ 271,175	13,874,932	(33,683,128)	(5,579,641)
Warrants issued with notes payable			24,953		24,953
Stock issued value warrants issued finders fees			1,741		1,741
Net loss				(645,770)	(645,770)
Shares outstanding at Sep. 30, 2019	139,573,798	151,053
Equity balance at Sep. 30, 2019	$ 13,957,380	$ 271,175	$ 13,901,626	$ (34,328,898)	$ (6,198,717)

Goldrich Mining Company Conso_5

Goldrich Mining Company Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net loss	$ (1,438,188)	$ (3,018,888)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	982	4,464
Change in fair value of notes payable in gold	54,104	(27,933)
Warrants issued for finders fees	28,096	0
Share-based compensation	0	64,565
Amortization of discount on note payable	70,710	390,929
Accretion of asset retirement obligation	10,433	10,032
Change in:
Prepaid expenses	(92,119)	(179,695)
Other current assets	6,557	435
Accounts payable and accrued liabilities	253,525	923,856
Interest payable	165,910	14,704
Interest payable - related parties	185,718	123,774
Related parties payable	108,935	164,795
Net cash used - operating activities	(645,337)	(1,528,962)
Cash flows from financing activities:
Proceeds from notes payable and warrants, net	64,000	189,473
Proceeds from notes payable and warrants - related party, net	509,000	856,114
Net cash provided - financing activities	573,000	1,045,587
Net (decrease) in cash and cash equivalents	(72,337)	(483,375)
Cash and cash equivalents, beginning of period	77,178	486,211
Cash and cash equivalents, end of period	4,841	2,836
Non-cash financing and investing activities:
Warrants issued for debt financing	40,552	126,010
Accounts payable satisfied with common stock	0	50,000
Stock issued value related party payables	$ 0	$ 91,298

1. Basis of Presentation

1. Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Notes
1. Basis of Presentation	1. BASIS OF PRESENTATION The unaudited financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America for interim financial information, as well as the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation of the interim financial statements have been included. Operating results for the nine-month period ended September 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2019. For further information refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. 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 an accumulated deficit of $34,328,898 at September 30, 2019. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The Company may profitably execute a production business plan, and thereby, 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. 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	9 Months Ended
	Sep. 30, 2019
Notes
2. Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Reclassifications Certain prior period amounts have been reclassified to conform to the 2019 financial statement presentation. Reclassifications had no effect on net loss, stockholders' equity, or cash flows as previously reported. Earnings (Loss) Per Share We are authorized to issue 250,000,000 shares of common stock, $0.10 par value per share. At September 30, 2019, there were 139,573,798 shares of our common stock issued and outstanding. For the periods ended September 30, 2019 and 2018, the effect of the Company’s outstanding preferred shares, options and warrants, totaling 94,042,079 and 108,490,017, respectively, would have been anti-dilutive. The total of dilutive instruments decreased during the nine months ended September 30, 2019 due to the expiration of the Class N and Class N-2 warrants. Accounting for Investments in Joint Ventures ASC 321 Investments – Equity Securities The Company has an equity interest in Goldrich NyacAU Placer LLC, a 50%-owned joint venture in which the Company does not have joint control or significant influence. See Note 4 Joint Venture. The Company performs a quantitative and qualitative assessment at each reporting date to determine whether the investment is impaired and an impairment loss equal to the difference between the carrying value and fair value is recorded within Other (income) expense on the Company's Consolidated Statement of Operations if an impairment has been determined. Because the carrying value of the joint venture is $nil, there were no impairment losses recorded during the years ended December 31, 2019 and 2018. Recent Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. 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. 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, joint venture distributions, accrued remediation costs, asset retirement obligations, stock-based compensation, deferred tax assets and related valuation allowances and uncertainties regarding the outcome of arbitration proceedings. 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. 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. Uncertain tax positions are evaluated in a two-step process, whereby (i) it is determined whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the related tax authority would be recognized. 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. In accordance with ASU No. 2014-09, the Company has determined that our revenue does not arise from contracts with customers, does not involve satisfaction of any performance obligations on the part of the Company, or require company assets to be recognized or applied to determine costs to obtain or fulfill any contract generating revenue. Other than any distribution the Company was awarded in arbitration (see Note 3 Joint Venture 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. Exploration Costs Exploration costs are expensed in the period in which they occur. 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. Remediation and Asset Retirement Obligation 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 2019 and 2018, the Company determined fair value on a recurring basis and non-recurring basis as follows: Balance September 30, 2019 Balance December 31, 2018 Fair Value Hierarchy level Liabilities Recurring: Notes payable in gold (Note 6) $ 396,261 $ 342,157 2 The carrying amounts of financial instruments, including notes payable, approximate fair value at September 30, 2019 and December 31, 2018. The inputs to the valuation of Level 2 liabilities are described in Note 6 Notes Payable in Gold

3. Joint Venture

3. Joint Venture	9 Months Ended
	Sep. 30, 2019
Notes
3. Joint Venture	3. JOINT VENTURE On April 3, 2012, Goldrich Placer, LLC (“GP”), a subsidiary of Goldrich, entered into a term sheet for 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 (the “Operating Agreement”), which was subsequently signed and made effective April 2, 2012. In each case as used herein in reference to the JV, ‘production’ is as defined by the Operating Agreement. As part of the Operating Agreement, GP 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 less impairment method. Under the terms of the Operating Agreement, NyacAU provided funding to the JV. The loans are to be repaid from future production. According to the Operating 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. 2. 3. 4. 5. As of December 31, 2018, the JV had not achieved commercial production as required under the Operating Agreement. As a result, GNP was dissolved during 2019 and, as of September 30, 2019, the liquidation of GNP was in process. The Company calculated distributions under item #2 above for the 2018 production season using the same methodology as prior years’ distributions. NyacAU has challenged its responsibility to declare or pay any distributions of this type for 2018. The Company has refuted the challenge as well as certain changes to the financial statements (see Arbitration). On June 23, 2015, the Company raised net proceeds of $1.1 million through the sale of 12.5% of the cash flows of GP, Goldrich’s subsidiary, receives in the future from its interest in GNP (“Distribution Interest”), paid in cash under items #2, to Chandalar Gold, LLC (“CGL”) and GVC Capital, LLC,(“GVC”), both of which are non-related entities. GP retained its ownership of its 50% interest in GNP but, after the transaction, subject to the terms of the GNP Operating Agreement, GP 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. At December 31, 2018 and 2017, an amount of $35,794 has been accrued for the distribution which is included in accrued liabilities for distributions to the Company that were applied to Loan3. No amount has been accrued for the 2019 and 2018 distribution due to uncertainties relating to realization of distributions from NyacAU, although during arbitration proceedings, Loan3 was determined and agreed to be paid in full (see Arbitration). 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, which was carried at an interest rate of the greater of prime plus 2% or 10%, and was to be repaid from distributions to Goldrich as defined in the Operating Agreement, prior to any distributions in cash to Goldrich. Subsequent to September 30, 2019, the arbitration panel (see Arbitration below) awarded distributions from 2016 and 2017 to Goldrich from GNP. In accordance with terms of the Operating Agreement, the Company applied the distributions toward Loan3 and the balance of principal and interest for LOC3 were paid in full at December 31, 2019. Arbitration In December 2017, the Company filed an arbitration statement of claim against NyacAU and other parties. The claim challenged certain accounting treatment of capital leases, allocations of tax losses, charges to the JV for funding costs related to the JV manager’s financing, related-party transactions, and other items of dispute in a previous mediation that was unsuccessful in reaching an agreement. As a result, the Company participated in an arbitration before a panel of three independent arbitrators during 2018 to address these items. Through 2019 and the filing of this report in 2020, the Company has continued to respond to panel inquiries, make motions to prosecute or defend positions, answer motions made by the opposing JV partner and aggressively support the Company’s efforts toward success. The Company records amounts for loss or gain contingencies when it is probable that a liability or an asset is realizable and can be reasonably estimated. To date, the arbitration proceedings are still in progress, with some rulings being issued for and against the Company’s positions. No assurance can be given that the arbitration will result in a successful outcome for the Company. Due to uncertainties relating to the pending outcome, the financial statements contain only adjustments for the final results of the arbitration that are estimable and probable. See Note 7 Commitments and Contingencies and Note 8 Subsequent Events for additional information and rulings subsequent to September 30, 2019. The Company incurred $120,826 and $1,600,687 in arbitration expenses during the periods ended September 30, 2019 and September 30, 2018, respectively.

4. Related Party Transactions

4. Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Notes
4. Related Party Transactions	4. RELATED PARTY TRANSACTIONS Beginning in January 2016 and through September 30, 2019, the salary of the Company’s Chief Executive Officer (“CEO”) has not been paid in full. Fees due to the Company’s Chief Financial Officer (“CFO”) have been accrued and remain unpaid: Nine months ended 09/30/19 Year ended 12/31/18 CEO Beginning Balance $ 295,000 $ 192,500 Deferred During Period 135,000 180,000 Cash Paid During Period (26,000) (77,500) Ending Balance 404,000 295,000 CFO Beginning Balance 64,909 35,202 Deferred During Period 36,985 64,222 Cash Paid During Period (22,734) (34,515) Ending Balance 79,160 64,909 Board fees payable 83,503 97,818 Total Related party payables $ 566,663 $ 457,727 During the year ended December 31, 2018, the Company also awarded 1,850,000 shares of common stock to officers and a director as compensation. The fair value of the shares awarded was $64,565 based upon the quoted value of the stock at the time of the grant.

5. Notes Payable & Notes Payabl

5. Notes Payable & Notes Payable - Related Party	9 Months Ended
	Sep. 30, 2019
Notes
5. Notes Payable & Notes Payable - Related Party	5. NOTES PAYABLE & NOTES PAYABLE – RELATED PARTY At December 31, 2018, the Company had outstanding Notes payable of $952,634 and outstanding Notes payable - related party of $2,378,947, with all discounts being amortized. The Notes payable and Notes payable - related party had matured on October 31, 2018 and are now due on demand. During the three and nine months ended September 30, 2019, the Company received the third, fourth, and fifth tranches of the notes payable for $318,947 and $603,158, for the respective periods, discounted at 5%, or $15,947 and $30,158, resulting in net proceeds of $303,000 and $573,000 for the three and nine months ended September 30, 2019, respectively, of which $303,000 and $509,000 net, was from a related party, respectively. The notes are due upon demand; therefore, the discounts and related warrants issued with them were immediately expensed to finance costs. At September 30, 2019, the Company had outstanding Notes payable of $1,020,000 and outstanding Notes payable – related party of $2,914,737, with all discounts fully amortized. The Company is in negotiations with holders of the Notes payable and Notes payable – related party to amend payment terms. The notes 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 20,657,349 five-year Class T warrants have been issued to the lenders, including 15,302,357 to a related party in connection with the current and prior-period note issuances. The warrants have an exercise price of $0.03 and expire on various dates from November 30, 2022 through September 30, 2024. During the nine months ended September 30, 2019, the Company issued 3,166,573 warrants in connection with the notes payable. The warrants had a fair value of $46,327 and had an allocated relative fair value of $40,553. A total of 1,652,588 five-year Class T warrants have been issued for finders fees related to this debt financing including 1,224,189 to a related party. The warrants issued for finders fees were fair valued at $1,741 and $28,095 for the three and nine months ended September 30, 2019, using a Black Scholes valuation model (see table below), and are included in interest expense and finance costs. During the three and nine months ended September 30, 2019, the Company accrued cash finders fees related to this debt financing totaling $9,090 and $54,990 compared to $21,000 for each for the three- and nine-month periods ended September 30, 2018 to related party entities and are included in interest expense and finance costs. Interest of $140,419 and $396,286 were expensed during the three and nine months ended September 30, 2019 compared to $101,331 and $240,141 expensed during the three and nine months ended September 30, 2018. Total interest for the notes of $582,032 is accrued at September 30, 2019 and is included in Interest payable and Interest payable – related parties. Interest due at September 30, 2019 was not timely paid. To date, the notes have not been paid, and the note holders have not demanded payment and have indicated willingness to work with the Company to extend the due date. Interest payable on the consolidated balance sheet also includes $11,217 interest accrued on a Related parties payable and $8,620 accrued on Notes payable in gold. The table below summarizes the total notes due, the amount received with discount, warrants issued for finders fees and cash expensed for finders fees for all periods related to the notes payable and notes payable – related party. Tranche Date Net amount after 5% Discount Note Prior to Discount Warrants issued to lenders Finders fees in Warrants Finders fees in Cash Notes Payable Dec. 22, 2017 $ 705,000 $ 742,105 3,896,047 311,684 $ - Dec. 24, 2018 200,000 210,526 1,105,262 88,421 6,000 March 31, 2019 14,000 14,737 77,368 6,189 420 June 30, 2019 50,000 52,632 276,315 22,105 1,500 Total Notes Payable 969,000 1,020,000 5,354,992 428,399 $ 7,920 Related Party Dec. 22, 2017 1,000,000 1,052,632 5,526,312 442,105 30,000 Dec. 24, 2018 1,260,000 1,326,316 6,963,155 557,052 37,800 March 31, 2019 71,000 74,737 392,368 31,390 2,130 June 30, 2019 135,000 142,105 746,051 59,684 4,050 Sept. 30, 2019 303,000 318,947 1,674,471 133,958 9,090 Total Notes Payable -Related Party 2,769,000 2,914,737 15,302,357 1,224,189 83,070 Total $ 3,738,000 $ 3,934,737 20,657,349 1,652,588 $ 90,990 The total fair value of the Class T warrants was estimated on the issue dates at $46,327 and $151,145 for the nine months ended September 30, 2019 and 2018, respectively, using the following weighted average assumptions: September 30, 2019 September 30, 2018 Market price of common stock on date of issuance $0.007 - $0.0275 $0.02 - $0.033 Risk-free interest rate 1.42% - 2.51% 2.58% - 2.87% Expected dividend yield 0 0 Expected term (in years) 5 5 Expected volatility 154.7% - 172% 155.5% - 158% Subsequent to the close of the quarter, effective November 1, 2019, the Company entered into an Amended and Restated Loan, Security, and Intercreditor Agreement (the “Amended Agreement”) with Nicholas Gallagher (“Gallagher”), a related party and member of the Company’s Board of Directors, in his capacity as agent for and on behalf of the holders of the Notes payable. No compensation was paid or accrued for Mr. Gallagher, either in cash or warrants, for his services as agent for other holders. Pursuant to the Amended Agreement, in exchange for the secured promissory notes and other consideration: 1. 2. 3. 4. 5. a. b. Under the Amended Agreement, for each holder of the Notes payable, whether or not a related party: 1. 2. 3. a. b. c. In an agreement separate from the Amended Agreement, Goldrich and Mr. Gallagher agreed that Mr. Gallagher, at his option, has the right to convert outstanding but unpaid and future interest on his loan into stock of the Company at $0.015 per share. In another agreement separate from the Amended Agreement, Goldrich and holders, other than Mr. Gallagher, agreed to convert $36,813 of unpaid interest into stock of the Company at $0.015 per share. During 2020, a total of 13,719,248 common shares with a basis of $0.015 per share, were issued to the holders, reducing interest payable by $205,789 (see Note 8 Subsequent Events Several events of default were enumerated in the Amended Agreement, including the following: a. b. c. d. e.

6. Notes Payable in Gold

6. Notes Payable in Gold	9 Months Ended
	Sep. 30, 2019
Notes
6. Notes Payable in Gold	6. NOTES PAYABLE IN GOLD During 2013, the Company issued notes payable in gold totaling $820,000, less a discount of $205,000, for net 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. During the nine months ended September 30, 2019, the Company renegotiated terms with the holders for a sixth time. A default condition arising from the non-delivery of the gold on March 31, 2019, was alleviated by agreements with the three note holders with the following amended terms: · · · · Through the date of the issuance of these financial statements, the gold notes have not been paid and the note holders have not demanded payment or delivery of gold. At September 30, 2019 and 2018, 266.788 ounces of fine gold was due and deliverable to the holders of the Notes. For the three and nine months ended September 30, 2019, using the fair value of gold on September 30, 2019 of $1,485 per ounce, the Company recognized an increase in fair value of $20,356 and $54,104, respectively. For the three and nine months ended September 30, 2018, using a forward gold price of $1,230, the Company recognized an increase in fair value of $4,322 and a decrease of $27,933, respectively in accounting for these notes as derivatives. The fair value was calculated using the market approach with Level 2 inputs of gold future delivery contracts. At September 30, 2019 and December 31, 2018, the Company had outstanding total notes payable in gold of $396,261 and $342,157, respectively, representing 266.788 ounces of fine gold deliverable at March 31, 2019. Interest of $25,405 was expensed during the nine months ended September 30, 2019, of which $8,620 is accrued at September 30, 2019 and is included in Interest payable.

7. Commitments and Contingencie

7. Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Notes
7. Commitments and Contingencies	7. COMMITMENTS AND CONTINGENCIES We are subject to Alaska state annual claims rental fees in order to maintain our non-patented claims. In addition to the annual claims rental fees of approximately $125,945, as increased in 2020 subsequent to September 30, 2019, due November 30 of each year, we are also required to meet annual labor requirements of approximately $61,100 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. The Company has significant carryovers to 2020 to satisfy its annual labor requirements. This carryover expires in the years 2020 through 2024 if unneeded to satisfy requirements in those years Arbitration In 2017, the Company, its subsidiary and the joint venture, as claimants, filed an arbitration statement of claim before a three-member Arbitration Panel (“the Panel”), against our JV partner and its affiliates; NyacAU, LLC (“NyacAU”), BEAR Leasing, LLC, and Dr. J. Michael James, as respondents. In 2018, the respondents filed a counter-claim against the Company, its subsidiaries and certain members of the Company’s current and former management, the counterclaim respondents. The arbitration claim alleged, amongst other things, claims concerning related-party transactions, accounting issues including capital vs. operating leases, interpretation of the joint venture operating agreement, allocation of tax losses between the joint venture partners, and unpaid amounts due Goldrich relating to the Chandalar Mine. It is possible that there could be either adverse or favorable developments in the arbitration pending with the Company and its JV partner. The Company records provisions in the consolidated financial statements for pending arbitration results when it determines that an outcome is probable, and the amount of loss can be reasonably estimated. At the present time, except as stated otherwise, while it is reasonably possible that a favorable or unfavorable outcome in the arbitration may occur, after assessing the information available, management is unable to estimate the possible loss, or range of losses, for the pending arbitration; and accordingly, no estimated losses have been accrued in the consolidated financial statements for favorable or unfavorable outcomes. Legal defense costs are expensed as incurred. Favorable rulings would not result in the recognition of gains prior to offsetting against losses, due to the ruling being an estimate which must be constructively received prior to recognition. The arbitration is ongoing and the various parties to the claims and counterclaims continue to disagree on several matters. On May 25, 2019, the Panel issued an Interim Award, which requested input from the parties on a small number of discrete issues, all input to be supported by references to the arbitration record.

8. Subsequent Events

8. Subsequent Events	9 Months Ended
	Sep. 30, 2019
Notes
8. Subsequent Events	8. SUBSEQUENT EVENTS Subsequent to the nine months ended September 30, 2019, and through the date of this report, the Company entered into additional notes payable totaling $673,684, of which $631,579 was from a related party, with cash proceeds of $640,000 to the Company. In April of 2020, the Company applied for and received a loan under the Payroll Protection Program under the provisions of the CARES Act of $50,600. This loan may be converted to a grant and forgiven when the Company uses the funds for qualifying expenses and applies for forgiveness under the program. During August through October of 2020, the Company received $439,000 cash as a result of exercise of Class Q, Class S, and Class T warrants at an exercise price of $0.03 per common share. Ownership of these warrants had been in the hands of a related party and were sold by him personally to unrelated parties. The unrelated parties then exercised the warrants for cash, resulting in the issuance of 14,633,333 common shares. During September of 2020, the holders of the Notes payable and Notes payable – related party, received shares in lieu of cash for interest. A total of 13,719,248 common shares with a basis of $0.015 per share, were issued to the lenders, reducing interest payable by $205,789, of which $168,976 was to a related party. Effective September 16, 2020, the Company entered into a contract with Yabucoa Partners Corp, dba Street Smart, to provide market research and analysis services to the Company. The Company will pay a flat fee of $150,000 USD payable $75,000 USD upon signing and $75,000 in 3 months. In addition, the Company will pay a monthly fee of $1,500 USD (one thousand five hundred), paid 6 (six) months in advance. Arbitration Rulings Subsequent to September 30, 2019 On November 30, 2019, the Panel ordered the Partial Final Award and concurrently the Second Interim Award RE Dissolution/Liquidation of GNP and Related Issues (“the Second Interim Award”). The Partial Final Award The Partial Final Award addressed several matters including leases and the impact of their characterization on interim distributions. As a result, the Panel determined that the Company is entitled to an additional $214,797 in distributions for 2016 and an additional $198,644 for 2017, for a total of $413,442 from GNP. In like manner, the Panel determined that NyacAU is entitled to an additional $413,442 in distributions for these years. As the Company is uncertain as to the collectability of these distributions, no recognition of these revenues is included in its Statement of Operations for the year ended December 31, 2019. The Partial Final Award also addressed the Company’s claim for payment of interest earned by LOC 1. The Panel determined that NyacAU should pay the Company 50% of the interest earned on LOC 1 actually received by NyacAU, or $126,666. The Company has not accrued a receivable or recognized interest income for the interest due to uncertainties surrounding its collectability. The Panel ruled Goldrich was responsible to pay NyacAU for the 2012 reclamation work and NyacAU is also entitled to 5% interest on the award from the date the first invoice was sent to Goldrich in 2014. Goldrich has accrued a liability for this ruling on its consolidated balance sheet of $421,366 included in accounts payable and interest payable, however Goldrich has contested the party to whom payment should be made and whether additional amounts not invoiced by GNP should be included in the award. The Partial Final Award found the Company liable for an act of negligent misrepresentation regarding the concealment of certain technical information from NyacAU. The Company has vigorously disputed the concealment and the finding of negligence. Nevertheless, as a result of the Panel’s determination, the Panel awarded Dr. J. Michael James a reimbursement of 17% of his previous $350,000 stock investment in the Company or $59,500 plus prejudgment interest of 5% and legal fees, for a total of $83,388. In addition, the Panel awarded Dr. James $9,858, plus interest at 5% and legal fees, for personal expenses incurred relating to GNP’s operations, for a total of $13,713. These amounts plus additional interest have been included in accounts payable and interest payable on the consolidated balance sheet at December 31, 2019. The Second Interim Award The Second Interim Award was necessitated by the fact that the dissolution/liquidation of the joint venture had not yet run its course. In the Second Interim Award the Panel ordered that: a) b) Neither order was successfully executed by the parties on the dates specified by the Panel. The Second Interim Award confirmed the dissolution of GNP and noted that “no provision of the Claims Lease or the Operating Agreement speaks directly to the rights or obligations of GNP to transfer its mining permit, which is held in the name of the manager, NyacAU. Although GNP no longer has the right to mine, GNP and specifically NyacAU have the liability of reclamation. Balance and payment of LOC1 The arbitration panel calculated a tentative balance of LOC1 at $16,483,271 as of June 2019. This balance will be adjusted for any additional costs incurred by GNP in the liquidation or awards and/or adjustments made by the arbitration panel. Upon liquidation of GNP, 50% of the LOC1 liability may be recorded on Goldrich’s balance sheet. The arbitration panel ruled in the Final Post Award (see below) that LOC1 cannot be increased for costs incurred after mining operations have ceased, including costs for reclamation. This deprives NyacAU of a security interest in 50% of future placer gold production at the site to repay reclamation expenses which it advances. Further, the panel ruled that the Operating Agreement does not impose an obligation on the Company to pay 50% of the reclamation fee, but that the reclamation obligation resides with the permit holder. Right to Offset Damages or Distributions The arbitration panel granted the request that any damages awarded to one party can be an offset to distributions (or damages) due to the other party. Final Post Award Orders On September 4, 2020, the arbitration panel issued Final Post Award Orders, wherein the panel issued rulings on multiple issues, including but not limited to, those discussed below: · Reclamation: The Company had previously filed a motion to compel NyacAU to correct accruals for certain expenses including reclamation, demobilization, equipment rental and utilities. Most notably, the Company contended that an accrual for reclamation liability was short of a much larger estimate prepared by independent professionals as engaged by Goldrich. The panel denied the Company’s motion and ruled that Goldrich does not have the authority to compel the establishment of any reserves on the GNP financial records. The Company had previously filed a motion to compel NyacAU to reclaim the disturbed acres as required under the Operating Agreement and the mining permit issued to NyacAU in 2013, and to require NyacAU to fund the reclamation reserve from cash that had been distributed to NyacAU. The panel denied the Company’s motion and ruled that while there was express provision in the Operating Agreement to establish reserves necessary for contingent or unforeseen liabilities or obligations, which could conceivably include reclamation reserves, the agreement does not impose an express obligation to reclaim the project site. · Mining Claims a) Judgements issued by Superior Court On April 29, 2020, the Superior Court of the State of Alaska issued a in favor of Dr. James, in the total amount of $13,713 (for the 2012 reclamation costs personally incurred, including interest) and $83,588 (for the adjustment to Dr. James’ stock purchase, including interest). The Court ordered both Goldrich and NyacAU to submit a status report to the Court in September 2020 regarding the Panel’s clarification of the amounts payable for the 2012 reclamation, including interest, it determined to be payable to NyacAU at that time. The status report has been filed by both parties, and these judgements remain unpaid and in force before the Superior Court. The amounts related to these judgements were accrued for at December 31, 2019.

2. Summary of Significant Acc_2

2. Summary of Significant Accounting Policies: Reclassifications (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the 2019 financial statement presentation. Reclassifications had no effect on net loss, stockholders' equity, or cash flows as previously reported.

2. Summary of Significant Acc_3

2. Summary of Significant Accounting Policies: Earnings (loss) Per Common Share (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Earnings (loss) Per Common Share	Earnings (Loss) Per Share We are authorized to issue 250,000,000 shares of common stock, $0.10 par value per share. At September 30, 2019, there were 139,573,798 shares of our common stock issued and outstanding. For the periods ended September 30, 2019 and 2018, the effect of the Company’s outstanding preferred shares, options and warrants, totaling 94,042,079 and 108,490,017, respectively, would have been anti-dilutive. The total of dilutive instruments decreased during the nine months ended September 30, 2019 due to the expiration of the Class N and Class N-2 warrants.

2. Summary of Significant Acc_4

2. Summary of Significant Accounting Policies: Accounting For Investments in Joint Ventures (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Accounting For Investments in Joint Ventures	Accounting for Investments in Joint Ventures ASC 321 Investments – Equity Securities The Company has an equity interest in Goldrich NyacAU Placer LLC, a 50%-owned joint venture in which the Company does not have joint control or significant influence. See Note 4 Joint Venture. The Company performs a quantitative and qualitative assessment at each reporting date to determine whether the investment is impaired and an impairment loss equal to the difference between the carrying value and fair value is recorded within Other (income) expense on the Company's Consolidated Statement of Operations if an impairment has been determined. Because the carrying value of the joint venture is $nil, there were no impairment losses recorded during the years ended December 31, 2019 and 2018.

2. Summary of Significant Acc_5

2. Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. 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 Acc_6

2. Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	9 Months Ended
	Sep. 30, 2019
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 Acc_7

2. Summary of Significant Accounting Policies: Use of Estimates (Policies)	9 Months Ended
	Sep. 30, 2019
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, joint venture distributions, accrued remediation costs, asset retirement obligations, stock-based compensation, deferred tax assets and related valuation allowances and uncertainties regarding the outcome of arbitration proceedings. Actual results could differ from those estimates.

2. Summary of Significant Acc_8

2. Summary of Significant Accounting Policies: Plant, Equipment, and Accumulated Depreciation (Policies)	9 Months Ended
	Sep. 30, 2019
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 Acc_9

2. Summary of Significant Accounting Policies: Mining Properties, Claims and Royalty Option (Policies)	9 Months Ended
	Sep. 30, 2019
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 Ac_10

2. Summary of Significant Accounting Policies: Income Taxes (Policies)	9 Months Ended
	Sep. 30, 2019
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. Uncertain tax positions are evaluated in a two-step process, whereby (i) it is determined whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the related tax authority would be recognized.

2. Summary of Significant Ac_11

2. Summary of Significant Accounting Policies: Revenue Recognition (Policies)	9 Months Ended
	Sep. 30, 2019
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. In accordance with ASU No. 2014-09, the Company has determined that our revenue does not arise from contracts with customers, does not involve satisfaction of any performance obligations on the part of the Company, or require company assets to be recognized or applied to determine costs to obtain or fulfill any contract generating revenue. Other than any distribution the Company was awarded in arbitration (see Note 3 Joint Venture Joint Venture.)

2. Summary of Significant Ac_12

2. Summary of Significant Accounting Policies: Stock-based Compensation (Policies)	9 Months Ended
	Sep. 30, 2019
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 Ac_13

2. Summary of Significant Accounting Policies: Exploration Costs (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Exploration Costs	Exploration Costs Exploration costs are expensed in the period in which they occur.

2. Summary of Significant Ac_14

2. Summary of Significant Accounting Policies: Derivatives (Policies)	9 Months Ended
	Sep. 30, 2019
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 Ac_15

2. Summary of Significant Accounting Policies: Remediation and Asset Retirement Obligation (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Remediation and Asset Retirement Obligation	Remediation and Asset Retirement Obligation 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 Ac_16

2. Summary of Significant Accounting Policies: Fair Value Measurements (Policies)	9 Months Ended
	Sep. 30, 2019
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 2019 and 2018, the Company determined fair value on a recurring basis and non-recurring basis as follows: Balance September 30, 2019 Balance December 31, 2018 Fair Value Hierarchy level Liabilities Recurring: Notes payable in gold (Note 6) $ 396,261 $ 342,157 2 The carrying amounts of financial instruments, including notes payable, approximate fair value at September 30, 2019 and December 31, 2018. The inputs to the valuation of Level 2 liabilities are described in Note 6 Notes Payable in Gold

2. Summary of Significant Ac_17

2. Summary of Significant Accounting Policies: Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Balance September 30, 2019 Balance December 31, 2018 Fair Value Hierarchy level Liabilities Recurring: Notes payable in gold (Note 6) $ 396,261 $ 342,157 2

4. Related Party Transactions_

4. Related Party Transactions: Schedule of Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Related Party Transactions	Nine months ended 09/30/19 Year ended 12/31/18 CEO Beginning Balance $ 295,000 $ 192,500 Deferred During Period 135,000 180,000 Cash Paid During Period (26,000) (77,500) Ending Balance 404,000 295,000 CFO Beginning Balance 64,909 35,202 Deferred During Period 36,985 64,222 Cash Paid During Period (22,734) (34,515) Ending Balance 79,160 64,909 Board fees payable 83,503 97,818 Total Related party payables $ 566,663 $ 457,727

5. Notes Payable & Notes Paya_2

5. Notes Payable & Notes Payable - Related Party: Schedule of senior secured notes (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of senior secured notes	Tranche Date Net amount after 5% Discount Note Prior to Discount Warrants issued to lenders Finders fees in Warrants Finders fees in Cash Notes Payable Dec. 22, 2017 $ 705,000 $ 742,105 3,896,047 311,684 $ - Dec. 24, 2018 200,000 210,526 1,105,262 88,421 6,000 March 31, 2019 14,000 14,737 77,368 6,189 420 June 30, 2019 50,000 52,632 276,315 22,105 1,500 Total Notes Payable 969,000 1,020,000 5,354,992 428,399 $ 7,920 Related Party Dec. 22, 2017 1,000,000 1,052,632 5,526,312 442,105 30,000 Dec. 24, 2018 1,260,000 1,326,316 6,963,155 557,052 37,800 March 31, 2019 71,000 74,737 392,368 31,390 2,130 June 30, 2019 135,000 142,105 746,051 59,684 4,050 Sept. 30, 2019 303,000 318,947 1,674,471 133,958 9,090 Total Notes Payable -Related Party 2,769,000 2,914,737 15,302,357 1,224,189 83,070 Total $ 3,738,000 $ 3,934,737 20,657,349 1,652,588 $ 90,990

5. Notes Payable & Notes Paya_3

5. Notes Payable & Notes Payable - Related Party: Fair value of warrants (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Fair value of warrants	September 30, 2019 September 30, 2018 Market price of common stock on date of issuance $0.007 - $0.0275 $0.02 - $0.033 Risk-free interest rate 1.42% - 2.51% 2.58% - 2.87% Expected dividend yield 0 0 Expected term (in years) 5 5 Expected volatility 154.7% - 172% 155.5% - 158%

1. Basis of Presentation (Detai

1. Basis of Presentation (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Details
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.
Accumulated deficit	$ 34,328,898	$ 32,890,710

2. Summary of Significant Ac_18

2. Summary of Significant Accounting Policies: Earnings (loss) Per Common Share (Details) - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Details
Common Stock, Shares Authorized	250,000,000		250,000,000
Common Stock, Par or Stated Value Per Share	$ 0.10		$ 0.10
Common Stock, Shares, Outstanding	139,573,798		139,573,798
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	94,042,079	108,490,017

2. Summary of Significant Ac_19

2. Summary of Significant Accounting Policies: Fair Value Measurements: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Details
Notes payable in gold	$ 396,261	$ 342,157

3. Joint Venture (Details)

3. Joint Venture (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Details
Cost-method Investments, Description	On April 3, 2012, Goldrich Placer, LLC (“GP”), a subsidiary of Goldrich, entered into a term sheet for 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 (the “Operating Agreement”), which was subsequently signed and made effective April 2, 2012.
Gain (Loss) Related to Litigation Settlement	$ 120,826	$ 1,600,687

4. Related Party Transactions_2

4. Related Party Transactions: Schedule of Related Party Transactions (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Related party payables	$ 566,663
Chief Executive Officer
Officers Compensation beginning balance	295,000
Officer compensation, deferred during period	135,000
Officers Compensation, cash paid during period	(26,000)
Officers compensation, ending balance	404,000
Chief Financial Officer
Officers Compensation beginning balance	64,909
Officer compensation, deferred during period	36,985
Officers Compensation, cash paid during period	(22,734)
Officers compensation, ending balance	79,160
Board Fees
Officer compensation, deferred during period	$ 83,503

4. Related Party Transactions (

4. Related Party Transactions (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Details
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture			1,850,000
Share-based compensation	$ 0	$ 64,565	$ 64,565

5. Notes Payable & Notes Paya_4

5. Notes Payable & Notes Payable - Related Party (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018
Details
Notes payable	$ 1,020,000	$ 952,634
Notes payable - related party	2,914,737	$ 2,378,947
Fair value of warrants estimated on issue dates	$ 46,327		$ 151,145

5. Notes Payable & Notes Paya_5

5. Notes Payable & Notes Payable - Related Party: Fair value of warrants (Details) - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Details
Stock price on date of grant, maximum	$ 0.007	$ 0.02
Stock price on date of grant, minimum	$ 0.0275	$ 0.033
Risk free interest rate, minimum	1.42%	2.58%
Risk free interest rate, maximum	2.51%	2.87%
Expected term simplified	5	5
Expected volatility rate, minimum	154.70%	155.50%
Expected volatility rate, maximum	172.00%	158.00%

6. Notes Payable in Gold (Detai

6. Notes Payable in Gold (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2013
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
Change in fair value, notes payable in gold	$ 20,356	$ 4,322	$ 54,104	$ 27,933

7. Commitments and Contingenc_2

7. Commitments and Contingencies (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Details
Claims rental	$ 125,945
Annual labor requirement	$ 61,100
Legal Matters and Contingencies	In 2017, the Company, its subsidiary and the joint venture, as claimants, filed an arbitration statement of claim before a three-member Arbitration Panel (“the Panel”), against our JV partner and its affiliates; NyacAU, LLC (“NyacAU”), BEAR Leasing, LLC, and Dr. J. Michael James, as respondents. In 2018, the respondents filed a counter-claim against the Company, its subsidiaries and certain members of the Company’s current and former management, the counterclaim respondents. The arbitration claim alleged, amongst other things, claims concerning related-party transactions, accounting issues including capital vs. operating leases, interpretation of the joint venture operating agreement, allocation of tax losses between the joint venture partners, and unpaid amounts due Goldrich relating to the Chandalar Mine.

8. Subsequent Events (Details)

8. Subsequent Events (Details)	9 Months Ended
	Sep. 30, 2019
Notes Payable
Subsequent Event, Description	Subsequent to the nine months ended September 30, 2019, and through the date of this report, the Company entered into additional notes payable totaling $673,684, of which $631,579 was from a related party, with cash proceeds of $640,000 to the Company.
Cares Act
Subsequent Event, Description	In April of 2020, the Company applied for and received a loan under the Payroll Protection Program under the provisions of the CARES Act of $50,600. This loan may be converted to a grant and forgiven when the Company uses the funds for qualifying expenses and applies for forgiveness under the program.
Warrant Exercise
Subsequent Event, Description	During August through October of 2020, the Company received $439,000 cash as a result of exercise of Class Q, Class S, and Class T warrants at an exercise price of $0.03 per common share.
Notes Payable Related Party
Subsequent Event, Description	During September of 2020, the holders of the Notes payable and Notes payable – related party, received shares in lieu of cash for interest.
Contract
Subsequent Event, Description	Effective September 16, 2020, the Company entered into a contract with Yabucoa Partners Corp, dba Street Smart, to provide market research and analysis services to the Company.
Arbitration
Subsequent Event, Description	On November 30, 2019, the Panel ordered the Partial Final Award and concurrently the Second Interim Award RE Dissolution/Liquidation of GNP and Related Issues (“the Second Interim Award”).
Partial Final Award
Subsequent Event, Description	The Partial Final Award addressed several matters including leases and the impact of their characterization on interim distributions.
Second Interim Award
Subsequent Event, Description	The Second Interim Award was necessitated by the fact that the dissolution/liquidation of the joint venture had not yet run its course.
Final Post Award Orders
Subsequent Event, Description	On September 4, 2020, the arbitration panel issued Final Post Award Orders, wherein the panel issued rulings on multiple issues