Mineral Properties | 6 Months Ended |
Oct. 31, 2013 |
Extractive Industries [Abstract] | ' |
Mineral Properties | ' |
| 3 | Mineral Properties |
On April 26, 2011 (as amended on July 31, 2012, November 17, 2012, May 30, 2013, and December 18, 2013), the Company entered into an agreement to acquire up to a 75% interest in 83 mineral claims located in the Eureka Mining District in Eureka County, Nevada. |
To earn the first 25% interest, the Company must: |
| · | issue a $25,000 promissory note which was originally due on June 10, 2011 (issued); and |
| · | incur exploration expenditures of $250,000 on or before June 30, 2014. |
To earn an additional 25% interest, the Company must: |
· pay $75,000 on or before June 30, 2014; and |
· incur total exploration expenditures of $750,000 on or before December 31, 2014. |
To earn a further 25% interest, the Company must: |
· pay $100,000 on or before June 30, 2015; and |
· incur total exploration expenditures of $1,250,000 on or before December 31, 2015. |
On June 29, 2011, the $25,000 promissory note was extended to September 27, 2011 and the Company agreed to pay interest at a rate of 10% per annum. On December 31, 2011, the promissory note was increased to $30,000 with $5,000 due on March 31, 2012, $5,000 due on June 30, 2012, $10,000 due on September 30, 2012, and $10,000 due on December 31, 2012. On April 27, 2012, the Company paid $5,000 of the promissory note. On July 11, 2012, the Company paid $5,000 of the promissory note. On September 20, 2012, the $10,000 due on September 30, 2012 and December 31, 2012 were each extended to February 28, 2013. On November 9, 2012, the remainder of the promissory note was cancelled. |