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| þ |   | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|--------|--------------------------------------------------------------------------------------|

|   |   |                                                                               |
|--------|--------|------------------------------------------------------------------------------------|
| o      |   | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

| Delaware                                                       | 83-0402389                        |
|----------------------------------------------------------------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

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|                      |   |                |   |                    |   |                             |
|---------------------------|--------|---------------------|--------|-------------------------|--------|----------------------------------|
| Large accelerated filer o |   | Accelerated filer o |   | Non-accelerated filer o |   | Smaller reporting company þ |

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|          |                                                                                                               |                                               | Page   |
|---------------|--------------------------------------------------------------------------------------------------------------------|----------------------------------------------------|--------|
|          |                                                                                                               |                                               |   |
| PART I        |                                                                                                               |                                               |   |
|          |                                                                                                               |                                               |   |
| Item 1.       | Business                                                                                                           | 6                                                  |
| Item 1A.      | Risk Factors                                                                                                       | 12                                                 |
|          |                                                                                                               | Risks Relating to Our Company                      |   |
|          |                                                                                                               | Risks Associated with Our Common Stock in General  |   |
| Item 1B.      | Unresolved Staff Comments                                                                                          | 12                                                 |
| Item 2.       | Properties                                                                                                         | 12                                                 |
|          |                                                                                                               | Ruby Mine                                          |   |
|          |                                                                                                               | BC Properties                                      |   |
| Item 3.       | Legal Proceedings                                                                                                  | 45                                                 |
| Item 4.       | Mine Safety Disclosures                                                                                            | 45                                                 |
|          |                                                                                                               |                                               |   |
| PART II       |                                                                                                               |                                               |   |
|          |                                                                                                               |                                               |   |
| Item 5.       | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 46                                                 |
| Item 6.       | Selected Financial Data                                                                                            | 48                                                 |
| Item 7.       | Management’s Discussion and Analysis of Financial Condition and Results of Operations                        | 48                                                 |
| Item 8.       | Financial Statements and Supplementary Data                                                                        | 62                                                 |
|          |                                                                                                               | Balance Sheets                                     | 63     |
|          |                                                                                                               | Statements of Operations                           | 64     |
|          |                                                                                                               | Statements of Stockholders’ Equity (Deficit) | 65     |
|          |                                                                                                               | Statements of Cash Flows                           | 73     |
|          |                                                                                                               | Notes to the Financial Statements             | 74     |
| Item 9.       | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                               | 110                                                |
| Item 9A.      | Controls and Procedures                                                                                            | 110                                                |
|          |                                                                                                               |                                               |   |
| PART III      |                                                                                                               |                                               |
|          |                                                                                                               |                                               |   |
| Item 10.      | Directors, Executive Officers and Corporate Governance                                                             | 111                                                |
| Item 11.      | Executive Compensation                                                                                             | 112                                                |
| Item 12.      | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters                     | 116                                                |
| Item 13.      | Certain Relationships and Related Transactions, and Director Independence                                          | 118                                                |
| Item 14.      | Principal Accountant Fees and Services                                                                             | 118                                                |
|          |                                                                                                               |                                               |   |
| PART IV       |                                                                                                               |                                               |
|          |                                                                                                               |                                               |   |
| Item 15.      | Exhibits and Financial Statement Schedules                                                                         | 119                                                |
|          |                                                                                                               |                                               |   |
| SIGNATURES    | 120                                                                                                                |
|          |                                                                                                               |                                               |   |
| EXHIBIT INDEX | 121                                                                                                                |

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|   | • |   | Statements regarding future earnings; |
|--------|---------|--------|---------------------------------------|

|   | • |   | Estimates of future mineral production and sales, for specific operations and on a consolidated or equity basis; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------|

|   | • |   | Estimates of future costs applicable to sales, other expenses and taxes for specific operations and on a consolidated basis; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Estimates of future cash flows; |
|--------|---------|--------|---------------------------------|

|   | • |   | Estimates of future capital expenditures and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding thereof; |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Estimates regarding timing of future capital expenditures, construction, production or closure activities; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------|

|   | • |   | Statements as to the projected development of certain ore deposits, including estimates of development and other capital costs and financing plans for these deposits; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Estimates of reserves and statements regarding future exploration results and reserve replacement and the sensitivity of reserves to metal price changes; |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Statements regarding our ability to raise capital and the availability and costs related to future borrowing, debt repayment and financing; |
|--------|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Statements regarding modifications to hedge and derivative positions; |
|--------|---------|--------|-----------------------------------------------------------------------|

|   | • |   | Statements regarding future transactions; |
|--------|---------|--------|-------------------------------------------|

|   | • |   | Statements regarding the impacts of changes in the legal and regulatory environment in which we operate; |
|--------|---------|--------|----------------------------------------------------------------------------------------------------------|

|   | • |   | Unexpected changes in business and economic conditions; |
|--------|---------|--------|---------------------------------------------------------|

|   | • |   | Changes in interest rates and currency exchange rates;  |
|--------|---------|--------|--------------------------------------------------------------|
|   | • |   | Technological changes in the mining industry;                |

|   | • |   | Changes in exploration and overhead costs; |
|--------|---------|--------|--------------------------------------------|

|   | • |   | The level of demand for our products; |
|--------|---------|--------|---------------------------------------|

|   | • |   | Changes in our business strategy; |
|--------|---------|--------|-----------------------------------|

|   | • |   | Changes in exploration results; |
|--------|---------|--------|---------------------------------|

|   | • |   | Estimates of future costs and other liabilities for certain environmental matters. |
|--------|---------|--------|------------------------------------------------------------------------------------|

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|   | • |   | Interpretation of drill hole results and the geology, grade and continuity of mineralization;  |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------|
|   | • |   | The uncertainty of mineralized material estimates and timing of development expenditures;           |

|   | • |   | Results of future feasibility studies, if any; |
|--------|---------|--------|------------------------------------------------|

|   | • |   | Timing and amount of production, if any; |
|--------|---------|--------|------------------------------------------|

|   | • |   | Access to and availability of materials, equipment, supplies, labor and supervision, power and water; and |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------------|

|   | • |   | Commodity price fluctuations; |
|--------|---------|--------|-------------------------------|

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Item 

| 1.   | Targeting and acquiring mining properties with good historical assays. (1) |
|----------------|----------------------------------------------------------------------------|

| 2.   | Identifying potential partners for the development of each of the Company’s properties and entering into joint-venture or option agreements.  In most cases, the partner is another mining company whose shares trade on a public exchange. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | The initial agreement usually comprises a small non-refundable cash payment in advance and a significant number of shares in the stock of the partner or acquiring company.  Cash and shares increase in staged payments on the anniversary date of the agreement.  In the case of an option agreement, the Company will retain a Net Smelter Royalty with a buyout provision should the property be the site of a major discovery and/or developed into a commercially-operating mine.  In the case of a joint-venture, we retain a percentage of ownership, typically 50%, in the event the partner satisfies all the terms of the contract to completion. (2) |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The partner or acquiring company also must commit to a specific work program over a period of several years to develop the property, often involving a commitment of several million dollars. |
|----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5.   | We believe these work programs enable us to maintain our properties for little or no cost, as the annual maintenance fees due to the government are offset by the amount of money spent on property exploration and development paid for by our partners.  Any surplus of expenditures beyond what is due to maintain the properties can then be applied as “portable assessment credits” towards the maintenance of other Company properties that are not yet producing revenue but which have good prospects of doing so in the future.  (3) |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.   | If at anytime the partner defaults on the work agreement or does not make staged cash or stock payments by the anniversary date, the property then reverts back to us,  which then leaves us free to find another partner and begin the process all over again. |
|----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Claim Name                              |   | Type       |   | Acres(1) |   |   | Good Until(2) |              |
|-----------------------------------------|--------|------------|--------|----------|--------|--------|---------------|-------------------|
| Guatemala                               |   | Patented   |   |     | 147    |   |          |              | - |   |
| Extension Placer Mining Claim           |   | Patented   |   |     | 288    |   |          |              | - |   |
| Wisconsin Placer Mining Claim           |   | Unpatented |   |     | 180    |   |          | September 1, 2013 |   |
| Wisconsin Extension Placer Mining Claim |   | Unpatented |   |     | 159    |   |          | September 1, 2013 |   |
| Garnet Placer Mining Claim              |   | Unpatented |   |     | 75     |   |          | September 1, 2013 |   |
| Ruby Quartz Mining Claim                |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Diamond Quartz Mining Claim             |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Sapphire Placer Mining Claim            |   | Unpatented |   |     | 2      |   |          | September 1, 2013 |   |
| Gold Channel Placer                     |   | Unpatented |   |     | 150    |   |          | September 1, 2013 |   |
| Black Channel Placer                    |   | Unpatented |   |     | 60     |   |          | September 1, 2013 |   |
| Topaz Placer Mining Claim               |   | Unpatented |   |     | 160    |   |          | September 1, 2013 |   |
| Irene Placer Mining Claim               |   | Unpatented |   |     | 140    |   |          | September 1, 2013 |   |
| Opal Placer Mining Claim                |   | Unpatented |   |     | 160    |   |          | September 1, 2013 |   |
| Ruby Lode No. 7                         |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 8                         |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 16                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 17                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 18                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 19                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 20                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 27                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Ruby Lode No. 28                        |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Entry Lode Mining Claim                 |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Entry Extension Lode Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 1 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 2 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 3 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 4 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 5 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 6 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 7 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |
| Golden Bear 8 Placer Mining Claim       |   | Unpatented |   |     | 20     |   |          | September 1, 2013 |   |

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| Channel            |   | Mined  |   |   | Partially Mined |   |   | Unmined |   |   | Total |   |
|--------------------|--------|--------|--------|--------|-----------------|--------|--------|---------|--------|--------|-------|--------|
| Bald Mtn           |   |   | 7,500  |   |            |   | --     |    |   |   | --    |   |   |   | 7,500 |   |
| Deep Rock Creek    |   |   | 5,500  |   |            |   | --     |    |   |   | 2,000 |   |   |   | 7,500 |   |
| Cincinnati         |   |   | --     |   |            |   | 1,500  |    |   |   | 4,500 |   |   |   | 6,000 |   |
| Black and Pilot    |   |   | 2,000  |   |            |   | 3,500  |    |   |   | 3,250 |   |   |   | 8,750 |   |
| Mt. Vernon         |   |   | --     |   |            |   | --     |    |   |   | 3,000 |   |   |   | 3,000 |   |
| Bald Mtn Extension |   |   | 2,750  |   |            |   | --     |    |   |   | 3,250 |   |   |   | 6,000 |   |
| Totals (miles)     |   |   | 3.36   |   |            |   | 0.95   |    |   |   | 3.03  |   |   |   | 7.34 |   |

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|    |   |   | Dry    |   |   | Au     |   |
|---------|--------|--------|--------|--------|--------|--------|--------|
|    |   |   | Weight |   |   | Fire   |   |
| SAMPLES |   |   | lbs    |   |   | ppb    |   |
|    |   |   |   |   |   |   |   |
|    | A1     |   |   |   | 1      |   |   |   | 4 |   |
|    | A2     |   |   |   | 2      |   |   |   | 4 |   |
|    | A3     |   |   |   | 1      |   |   |   | 3 |   |
|    | A4     |   |   |   | 2      |   |   |   | 11 |   |
|    | B1     |   |   |   | 2      |   |   |   | 12 |   |
|    | B2     |   |   |   | 2      |   |   |   | 8 |   |
|    | B3     |   |   |   | 2      |   |   |   | 14 |   |
|    | B4     |   |   |   | 1      |   |   |   | 72 |   |
|    | B5     |   |   |   | 2      |   |   |   | 61 |   |
|    | B6     |   |   |   | 2      |   |   |   | 9 |   |
|    | B7     |   |   |   | 2      |   |   |   | 4 |   |
|    | C1     |   |   |   | 3      |   |   |   | 5 |   |
|    | C2     |   |   |   | 2      |   |   |   | 3 |   |
|    | C3     |   |   |   | 2      |   |   |   | 3 |   |
|    | C4     |   |   |   | 2      |   |   |   | 4 |   |
|    | C5     |   |   |   | 3      |   |   |   | 7 |   |
|    | C6     |   |   |   | 2      |   |   |   | 20 |   |
|    | C7     |   |   |   | 2      |   |   |   | 7 |   |
|    | C8     |   |   |   | 2      |   |   |   | 14 |   |
|    | C9     |   |   |   | 2      |   |   |   | 15050 |   |
|    | C10    |   |   |   | 2      |   |   |   | 18 |   |
|    | C11    |   |   |   | 2      |   |   |   | 45500 |   |
|    | C12    |   |   |   | 2      |   |   |   | 785 |   |
|    | D1     |   |   |   | 2      |   |   |   | 453 |   |
|    | D2     |   |   |   | 3      |   |   |   | 6 |   |
|    | D3     |   |   |   | 3      |   |   |   | 49 |   |
|    | D4     |   |   |   | 3      |   |   |   | 12 |   |
|    | D5     |   |   |   | 3      |   |   |   | 12 |   |
|    | E1     |   |   |   | 3      |   |   |   | 23 |   |
|    | E2     |   |   |   | 2      |   |   |   | 12 |   |
|    | E3     |   |   |   | 3      |   |   |   | 8 |   |
|    | E4     |   |   |   | 2      |   |   |   | 8 |   |
|    | E5     |   |   |   | 3      |   |   |   | 15 |   |
|    | E6     |   |   |   | 3      |   |   |   | 10 |   |
|    | E7     |   |   |   | 3      |   |   |   | 25 |   |

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| Property Name                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Area (hectares) |   |   | Acquisition Cost |   |   | Minimum Work Requirement (Annualized)** |   |   | Exploration Expenditures To Date |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|--------|--------|------------------|--------|--------|-----------------------------------------|--------|--------|----------------------------------|--------|
| ARGO GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            | 463    |   |             | $      | 185    |                                    |   | $      | 2,315                            |   |   | $ | - |   |
| BOULEAU CREEK GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |            | 1,900  |   |             |   | 760    |                                    |   |   | 9,500                            |   |   |   | 12,926 |   |
| CHERRY GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            | 1,138  |   |             |   | 480    |                                    |   |   | 5,690                            |   |   |   | - |   |
| MT. WASHINGTON/CONNIE HILL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |            | 2,629  |   |             |   | 1,052  |                                    |   |   | 13,145                           |   |   |   | - |   |
| CORONATION GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |            | 604    |   |             |   | 242    |                                    |   |   | 3,020                            |   |   |   | 10,732 |   |
| FAWN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |            | 407    |   |             |   | 163    |                                    |   |   | 2,035                            |   |   |   | - |   |
| GOLD HILL PROJECT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |            | 1,920  |   |             |   | 1,173  |                                    |   |   | 9,600                            |   |   |   | - |   |
| LOUGHBOROUGH GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |            | 288    |   |             |   | 115    |                                    |   |   | 1,440                            |   |   |   | - |   |
| LYNX GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |            | 622    |   |             |   | 249    |                                    |   |   | 3,110                            |   |   |   | - |   |
| MONTE CRISTO*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |            | 333    |   |             |   | 9,875  |                                    |   |   | 6,660                            |   |   |   | 18,082 |   |
| NEW ESKAY CREEK                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |            | 2,400  |   |             |   | 832    |                                    |   |   | 12,000                           |   |   |   | - |   |
| PINE RIVER VANADIUM                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |            | 330    |   |             |   | 132    |                                    |   |   | 1,650                            |   |   |   | - |   |
| RACHEL GOLD                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |            | 337    |   |             |   | 135    |                                    |   |   | 1,685                            |   |   |   | - |   |
| TULAMEEN PLATINUM                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |            | 231    |   |             |   | 92     |                                    |   |   | 1,155                            |   |   |   | - |   |
| FRASER RIVER PROJECT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |            | 413    |   |             |   | 826    |                                    |   |   | 8,260                            |   |   |   | 59,268 |   |
| Total                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |            | 14,015 |   |             | $      | 16,311 |                                    |   | $      | 81,265                           |   |   | $ | 101,008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |            |   |   |             |   |   |                                    |   |   |                             |   |   |   |   |   |
| *With the exception of the Monte Cristo which was acquired from another party, as described below, all of the Company’s properties in British Columbia were acquired as a result of the direct staking of located claims by Company personnel and payment of the statutory registration fees to the Province of British Columbia.** If no work is performed by the anniversary date due, a claim may be maintained in good standing by paying a Cash In Lieu of Work Fee (“CIL”) to the Ministry of Mines equal to twice the annual minimum work requirement. |

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| ·   | C05 (0.36 kg sample): 1.53 g/t gold, and 265 g/t silver; |
|--------------------|----------------------------------------------------------|

| ·   | C07 (0.10 kg sample): 25.9 grams g/t gold, and 2,590 g/t per tonne silver; |
|--------------------|----------------------------------------------------------------------------|

| ·   | C08 (0.26 kg sample): 17.45 g/t gold, and 479 g/t per tonne silver. |
|--------------------|---------------------------------------------------------------------|

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| ACME ANALYTICAL LABORATORIES LTD. |
|-----------------------------------|
| Date                              |   | 8-April-09 |
| Job Number:                       |   | VAN09000829 |
| Number of Samples:                |   |   | 3 |
| Project:                          |   | Van Winkle |
| Received:                         |   | 16-Mar-09 |

|    |   | Method  |   | G6     |   |   | G6     |   |   | G6     |   |
|---------|--------|---------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|    |   | Analyte |   | Au     |   |   | Pt     |   |   | Pd     |   |
|    |   | Unit    |   | GM/T   |   |   | GM/T   |   |   | GM/T   |   |
|    |   | MDL     |   |   | 0.17   |   |   |   | 0.01   |   |   |   | 0.01 |   |
| Sample  |   | Type    |   |   |   |   |   |   |   |   |   |   |   |   |
| VW-1    |   | Sand    |   |   | 620.21 |   |   |   | 3.59   |   |   |   | 0.03 |   |
| VW-2    |   | Sand    |   |   | 541.74 |   |   |   | 4.37   |   |   |   | 0.04 |   |
| VW-3    |   | Sand    |   |   | 530.42 |   |   |   | 5.38   |   |   |   | 0.03 |   |
| Average |   |    |   |   | 564.12 |   |   |   | 4.45   |   |   |   | 0.03 |   |

| SAMPLE          |   | Au     |   |   | Pt     |   |
|-----------------|--------|--------|--------|--------|--------|--------|
| DESCRIPTION     |   | (g/t)  |   |   | (g/t)  |   |
| PS12-VW1-120312 |   |   | 2.36   |   |   |   | 0.008 |   |
| PS12-VW2-120312 |   |   | 0.11   |   |   |   | 0.025 |   |
| PS12-VW3-120312 |   |   | 0.493  |   |   | nil    |   |
| PS12-VW4-120312 |   |   | 1.625  |   |   |   | 0.005 |   |
| PS12-VW5-120312 |   |   | 3.26   |   |   | nil    |   |
| PS12-VW6-120312 |   |   | 5.68   |   |   |   | 0.206 |   |
| PS12-VW7-120312 |   |   | 2.59   |   |   |   | 0.427 |   |
| AVERAGE         |   |   | 2.303  |   |   |   | 0.096 |   |

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| SAMPLE      |   | Weight |   |   | Au     |      |
|-------------|--------|--------|--------|--------|--------|-----------|
| DESCRIPTION |   | kg     |   |   | g/t    |      |
| NB-35       |   |   | 0.12   |   |   |      | 0.475 |   |
| NB-36       |   |   | 0.12   |   |   |      | 0.558 |   |
| NB-37       |   |   | 0.12   |   |   |      | 0.177 |   |
| NB-38       |   |   | 0.10   |   |   |      | 0.377 |   |
| NB-39       |   |   | 0.12   |   |   |      | 0.301 |   |
| NB-40       |   |   | 0.10   |   |   |      | 1.82 |   |
| NB-41       |   |   | 0.10   |   |   |      | 0.223 |   |
| NB-42       |   |   | 0.12   |   |   | <0.005 |   |
| NB-43       |   |   | 0.12   |   |   |      | 0.048 |   |
| NB-44       |   |   | 0.12   |   |   |      | 0.131 |   |
| NB-45       |   |   | 0.12   |   |   |      | 0.032 |   |
| NB-46       |   |   | 0.10   |   |   |      | 0.007 |   |
| NB-47       |   |   | 0.12   |   |   |      | 0.145 |   |
| NB-48       |   |   | 0.12   |   |   |      | 0.123 |   |
| NB-49       |   |   | 0.12   |   |   |      | 0.507 |   |
| NB-50       |   |   | 0.12   |   |   |      | 0.369 |   |
| NB-51       |   |   | 0.12   |   |   |      | 0.322 |   |
| NB-52       |   |   | 0.10   |   |   |      | 0.03 |   |
| NB-53       |   |   | 0.12   |   |   |      | 0.864 |   |
| NB-54       |   |   | 0.12   |   |   |      | 0.256 |   |
| NB-55       |   |   | 0.12   |   |   |      | 0.407 |   |
| NB-56       |   |   | 0.12   |   |   |      | 0.529 |   |
| NB-57       |   |   | 0.10   |   |   |      | 0.826 |   |
| NB-58       |   |   | 0.12   |   |   |      | 2.09 |   |
| NB-60*      |   |   | 0.56   |   |   |      | 95.6 |   |
| NB-61       |   |   | 0.10   |   |   |      | 0.097 |   |
| NB-62       |   |   | 0.10   |   |   |      | 0.455 |   |
| NB-63       |   |   | 0.12   |   |   |      | 0.212 |   |
| NB-64       |   |   | 0.50   |   |   | <0.005 |   |
| NB-65       |   |   | 0.54   |   |   | <0.005 |   |
| NB-66       |   |   | 0.10   |   |   |      | 0.192 |   |
| NB-67       |   |   | 0.12   |   |   |      | 0.035 |   |
| NB-68       |   |   | 0.12   |   |   |      | 0.335 |   |
| NB-69       |   |   | 0.12   |   |   |      | 0.333 |   |
| NB-70       |   |   | 0.12   |   |   |      | 0.346 |   |
| NB-71       |   |   | 0.12   |   |   |      | 0.312 |   |

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| SAMPLE      |   | Weight |   |   | Au     |   |   | Au              |   |   | Ag     |   |   | Ag              |   |   | Pt     |   |   | Pd     |   |
|-------------|--------|--------|--------|--------|--------|--------|--------|-----------------|--------|--------|--------|--------|--------|-----------------|--------|--------|--------|--------|--------|--------|--------|
| DESCRIPTION |   | kg     |   |   | g/t    |   |   | g/t (diluted)** |   |   | g/t    |   |   | g/t (diluted)** |   |   | g/t    |   |   | g/t    |   |
| PS17-120216 |   |   | 0.12   |   |   |   | 75.3   |            |   |   | 3.77   |   |   |            | 20.2   |   |   |   | 1.01   |   |   | nil |   |   |   | 0.003 |   |
| PS01-120215 |   |   | 0.04   |   |   | NSS*   |   |            | NSS    |   |   | NSS    |   |            | NSS    |   |   | NSS    |   |   | NSS    |   |
| PS02-120215 |   |   | 0.06   |   |   |   | 79.8   |            |   |   | 3.99   |   |   |            | 0.06   |   |   |   | 0      |   |   | nil |   |   |   | 0.002 |   |
| PS03-120215 |   |   | 0.04   |   |   |   | 71.7   |            |   |   | 3.59   |   |   | nil             |   |   | nil    |   |   | nil    |   |   |   | 0.001 |   |
| PS04-120215 |   |   | 0.08   |   |   |   | 5.66   |            |   |   | 0.28   |   |   |            | 23     |   |   |   | 1.15   |   |   |   | 0.012 |   |   |   | 0.005 |   |
| PS05-120215 |   |   | 0.16   |   |   |   | 3.32   |            |   |   | 0.17   |   |   |            | 1.84   |   |   |   | 0.09   |   |   | nil |   |   |   | 0.003 |   |
| PS06-120215 |   |   | 0.12   |   |   |   | 27.4   |            |   |   | 1.37   |   |   | nil             |   |   | nil    |   |   | nil    |   |   |   | 0.003 |   |
| PS07-120215 |   |   | 0.02   |   |   |   | 65.3   |            |   |   | 3.27   |   |   |            | 2.18   |   |   |   | 0.11   |   |   | nil |   |   |   | 0.006 |   |
| PS08-120215 |   |   | 0.02   |   |   |   | 71.3   |            |   |   | 3.57   |   |   | nil             |   |   | nil    |   |   | nil    |   |   |   | 0.004 |   |
| PS09-120215 |   |   | 0.08   |   |   |   | 9.47   |            |   |   | 0.47   |   |   |            | 4.13   |   |   |   | 0.21   |   |   | nil |   |   |   | 0.002 |   |
| PS10-120215 |   |   | 0.06   |   |   |   | 0.76   |            |   |   | 0.04   |   |   |            | 0.09   |   |   |   | 0      |   |   | nil |   |   |   | 0.003 |   |
| PS11-120215 |   |   | 0.08   |   |   |   | 1.76   |            |   |   | 0.09   |   |   |            | 0.24   |   |   |   | 0.01   |   |   |   | 0.005 |   |   |   | 0.004 |   |
| PS12-120216 |   |   | 0.14   |   |   |   | 112.5  |            |   |   | 5.63   |   |   | nil             |   |   | nil    |   |   | nil    |   |   | nil |   |
| PS13-120516 |   |   | 0.04   |   |   |   | 60.8   |            |   |   | 3.04   |   |   | nil             |   |   | nil    |   |   | nil    |   |   |   | 0.003 |   |
| PS14-120216 |   |   | 0.06   |   |   |   | 8.94   |            |   |   | 0.45   |   |   | nil             |   |   | nil    |   |   |   | 0.067  |   |   |   | 0.004 |   |
| PS15-120516 |   |   | 0.1    |   |   |   | 114    |            |   |   | 5.7    |   |   | nil             |   |   | nil    |   |   | nil    |   |   | nil |   |
| PS16-120216 |   |   | 0.08   |   |   |   | 74.8   |            |   |   | 3.74   |   |   |            | 65.1   |   |   |   | 3.26   |   |   | nil |   |   | nil |   |

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| ·   | NMX-88-17 yielded 0.25m. @ 3.7 g/t gold, 46 g/t silver and 9.7% copper from 196.5 to 197.21 m. from a massive sulphide vein in Zone A |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------|

| ·   | NMX-89-25 yielded 4.0 m. @ 6.5 g/t gold, 30 g/t silver and 4.1% copper from 29 to 33m., including: 1.0 m. @ 21 g/t gold, 71 g/t silver and 9.3% copper from 29 to 30 m. in a massive sulphide vein in basalt with pyrrhotite, chalcopyrite and pyrite |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | NMX-89-26 yielded 6.5 m. @ 0.23 g/t gold, 7.3 g/t silver and 1.1% copper from 16.2 to 22.7 m. in a siliceous basaltic breccia with pyrrhotite and chalcopyrite |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|             |   | Common Stock |   |
|------------------|--------|--------------|--------|
| Fiscal Year 2012 |   | High         |   |   | Low |   |
| First Quarter    |   | $            | 0.14   |   |   | $ | 0.075 |   |
| Second Quarter   |   | $            | 0.10   |   |   | $ | 0.052 |   |
| Third Quarter    |   | $            | 0.11   |   |   | $ | 0.055 |   |
| Fourth Quarter   |   | $            | 0.074  |   |   | $ | 0.041 |   |

| Fiscal Year 2011 |   | High   |   |   | Low    |   |
|------------------|--------|--------|--------|--------|--------|--------|
| First Quarter    |   | $      | 0.09   |   |   | $      | 0.026 |   |
| Second Quarter   |   | $      | 0.22   |   |   | $      | 0.073 |   |
| Third Quarter    |   | $      | 0.21   |   |   | $      | 0.12 |   |
| Fourth Quarter   |   | $      | 0.19   |   |   | $      | 0.07 |   |
|             |   |   |   |   |   |   |   |   |
| Fiscal Year 2010 |   | High   |   |   | Low    |   |
| First Quarter    |   | $      | 0.04   |   |   | $      | 0.015 |   |
| Second Quarter   |   | $      | 0.029  |   |   | $      | 0.0044 |   |
| Third Quarter    |   | $      | 0.025  |   |   | $      | 0.015 |   |
| Fourth Quarter   |   | $      | 0.0475 |   |   | $      | 0.015 |   |

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|   | • |   | contains a description of the nature and level of risk in the market for penny stocks in both public offerings and secondary trading; |
|--------|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | contains a description of the broker’s or dealer’s duties to the customer and of the rights and remedies available to the customer with respect to a violation to such duties or other requirements of the Securities Act of 1934, as amended; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | contains a brief, clear, narrative description of a dealer market, including “bid” and “ask” prices for penny stocks and the significance of the spread between the bid and ask price; |
|--------|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | contains a toll-free telephone number for inquiries on disciplinary actions; |
|--------|---------|--------|------------------------------------------------------------------------------|

|   | • |   | defines significant terms in the disclosure document or in the conduct of trading penny stocks; and |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------|

|   | • |   | contains such other information and is in such form (including language, type, size and format) as the Securities and Exchange Commission shall require by rule or regulation. |
|--------|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | The broker-dealer also must provide, prior to effecting any transaction in a penny stock, to the customer: |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------|

|   | • |   | the bid and offer quotations for the penny stock; |
|--------|---------|--------|---------------------------------------------------|

|   | • |   | the compensation of the broker-dealer and its salesperson in the transaction; |
|--------|---------|--------|-------------------------------------------------------------------------------|

|   | • |   | the number of shares to which such bid and ask prices apply, or other comparable information relating to the depth and liquidity of the market for such stock; and |
|--------|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | monthly account statements showing the market value of each penny stock held in the customer’s account. |
|--------|---------|--------|---------------------------------------------------------------------------------------------------------------|

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|   | · | our future operating results; |
|--------|--------|-------------------------------|

|   | · | our business prospects; |
|--------|--------|-------------------------|

|   | · | our contractual arrangements and relationships with third parties; |
|--------|--------|--------------------------------------------------------------------|

|   | · | the dependence of our future success on the general economy; |
|--------|--------|--------------------------------------------------------------|

|   | · | our possible financings; and |
|--------|--------|------------------------------|

|   | · | the adequacy of our cash resources and working capital. |
|--------|--------|---------------------------------------------------------|

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|   | Level 1. Observable inputs such as quoted prices in active markets; |
|--------|---------------------------------------------------------------------|

|   | Level 2. Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and |
|--------|---------------------------------------------------------------------------------------------------------------------|

|   | Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

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|                                       |   | Balance atDecember 31, 2011 |   |   | NewIssuances |   |    | Changes inFair Values |   |   | Balance atDecember 31,2012 |   |
|--------------------------------------------|--------|-----------------------------|--------|--------|--------------|--------|---------|-----------------------|--------|--------|----------------------------|--------|
| Level 3 –                            |   |                        |   |   |         |   |    |                  |   |   |                       |   |   |   |   |   |
| Derivative liabilities from:               |   |                        |   |   |         |   |    |                  |   |   |                       |   |   |   |   |   |
| Conversion features                        |   | $                           | -      |   |         | $      | 98,366  |                  |   | $      | (16,129)                   |   |   | $ | 82,237 |   |
| Conversion features – tainted equity |   |                        | -      |   |         |   | 37,841  |                  |   |   | 171,130                    |   |   |   | 208,971 |   |
| Warrants                                   |   |                        | -      |   |         |   | -       |                  |   |   | 205,619                    |   |   |   | 205,619 |   |
|                                       |   | $                           | -      |   |         | $      | 136,207 |                  |   | $      | 360,620                    |   |   | $ | 496,827 |   |

|                                            |   |    |   |   |    |   |                                        |   |   | Total      |   |
|-------------------------------------------------|--------|---------|--------|--------|---------|--------|---------------------------------------------|--------|--------|------------|--------|
|                                            |   |    |   |   |    |   |                                        |   |   | Unrealized |   |
| Description                                     |   | Level 1 |   |   | Level 2 |   | Level 3                                     |   |   | Loss       |   |
|    Available For Sale Securities |   | $       | 12,500 |   |    | $      |        - |   |   | $          | -      |   |   | $ | 12,500 |   |
|  Totals                                    |   | $       | 12,500 |   |    | $      |        - |   |   | $          | -      |   |   | $ | 12,500 |   |

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|                                                                                                                                                                                                                                                      |   | Dec 31, 2012(restated) |        |   | Dec 31, 2011(restated) |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------|-------------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |
| ASSETS                                                                                                                                                                                                                                                    |   |                   |        |   |                   |   |
|    Current Assets                                                                                                                                                                                                                          |   |                   |        |   |                   |   |
|    Cash                                                                                                                                                                                                                                    |   | $                      | 42,008      |   |                   | $      | 129,888 |   |
|    Accounts Receivable                                                                                                                                                                                                                     |   |                   | -           |   |                   |   | 982 |   |
|    Total Current Assets                                                                                                                                                                                                                    |   |                   | 42,008      |   |                   |   | 130,870 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
|    Other Assets                                                                                                                                                                                                                            |   |                   |        |   |                   |   |   |   |
|    Certificates of Deposit                                                                                                                                                                                                                 |   |                   | 172,499     |   |                   |   | 171,875 |   |
|    Deferred Financing Costs, net                                                                                                                                                                                                           |   |                   | 14,471      |   |                   |   | - |   |
|    Goodwill                                                                                                                                                                                                                                |   |                   | -           |   |                   |   | 5,341 |   |
|    Mining Claims – Unproved                                                                                                                                                                                                          |   |                   | 1,797,488   |   |                   |   | 1,797,564 |   |
|    Property, Plant & Equipment, net of accumulated depreciation                                                                                                                                                                        |   |                   | 635,212     |   |                   |   | 733,885 |   |
|    Other Assets                                                                                                                                                                                                                            |   |                   | -           |   |                   |   | 4,000 |   |
|    Available For Sale Securities                                                                                                                                                                                                           |   |                   | 12,550      |   |                   |   | - |   |
|    Reclamation Bond – Fraser River                                                                                                                                                                                                   |   |                   | 2,000       |   |                   |   | - |   |
|    Total Other Assets                                                                                                                                                                                                                      |   |                   | 2,634,220   |   |                   |   | 2,712,665 |   |
| TOTAL ASSETS                                                                                                                                                                                                                                              |   | $                      | 2,676,228   |   |                   | $      | 2,843,535 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
| LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                                                                                                    |   |                   |        |   |                   |   |   |   |
|    Liabilities                                                                                                                                                                                                                             |   |                   |        |   |                   |   |   |   |
|    Current Liabilities                                                                                                                                                                                                                     |   |                   |        |   |                   |   |   |   |
|    Accounts Payable                                                                                                                                                                                                                        |   | $                      | 56,617      |   |                   | $      | 5,942 |   |
|    Accrued Expenses - Related Party                                                                                                                                                                                                        |   |                   | 884,474     |   |                   |   | 784,474 |   |
|    Accrued Expenses – Ruby Mine                                                                                                                                                                                                      |   |                   | 12,250      |   |                   |   | - |   |
|    Accrued Interest                                                                                                                                                                                                                        |   |                   | 41,363      |   |                   |   | - |   |
|    Convertible notes payable (net of discounts of $166,307 and $0, respectively)                                                                                                                                                           |   |                   | 608,193     |   |                   |   | 25,000 |   |
|    Deferred Gain                                                                                                                                                                                                                           |   |                   | 9,835       |   |                   |   | - |   |
|    Derivative Liability                                                                                                                                                                                                                    |   |                   | 496,827     |   |                   |   | - |   |
|    Note Payable – Ruby Mine Mortgage                                                                                                                                                                                                 |   |                   | 1,774,822   |   |                   |   | 1,889,185 |   |
|    Note Payable (net of discounts of $0 and $20,568, respectively)                                                                                                                                                                         |   |                   | -           |   |                   |   | 4,432 |   |
|    Total Current Liabilities                                                                                                                                                                                                               |   |                   | 3,884,381   |   |                   |   | 2,709,033 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
|    Long-Term Liabilities                                                                                                                                                                                                                   |   |                   |        |   |                   |   |   |   |
|    Asset Retirement Obligation                                                                                                                                                                                                             |   |                   | 5,584       |   |                   |   | 5,147 |   |
|    Total Long-Term Liabilities                                                                                                                                                                                                             |   |                   | 5,584       |   |                   |   | 5,147 |   |
|    Total Liabilities                                                                                                                                                                                                                       |   | $                      | 3,889,965   |   |                   | $      | 2,714,180 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
| Commitment & Contingencies                                                                                                                                                                                                                            |   |                   |        |   |                   |   |   |   |
| Common shares subject to redemption, stated at estimated redemption value, 4,517,601 and 880,982 shares outstanding at December 31, 2012 and December 31, 2011, respectively                                                                              |   |                   | 367,490     |   |                   |   | 88,273 |   |
| Total Commitment & Contingencies                                                                                                                                                                                                                      |   | $                      | 367,490     |   |                   | $      | 88,273 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
|    Stockholders’ Equity (Deficit)                                                                                                                                                                                                    |   |                   |        |   |                   |   |   |   |
| Preferred stock, Series I, $0.001 par value, 100 shares authorized, 100 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively                                                                                            |   |                   | -           |   |                   |   | - |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
| Convertible Preferred stock, Series A, $0.001 par value, 8,000,000 shares authorized, 4,000,000 and 4,000,000 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively                                                      |   |                   | 4,000       |   |                   |   | 4,000 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
| Convertible Preferred stock, Series G, $0.001 par value, 0 and 1,500,000 shares authorized at December 31, 2012 and December 31, 2011, respectively, 0 and 100,000 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively |   |                   | -           |   |                   |   | 100 |   |
|                                                                                                                                                                                                                                                      |   |                   |        |   |                   |   |   |   |
| Common stock, $0.001 par value, 250,000,000 shares authorized, 97,485,130 and 96,783,480 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively                                                                           |   |                   | 97,485      |   |                   |   | 96,783 |   |
| Additional Paid-In Capital                                                                                                                                                                                                                                |   |                   | 11,805,636  |   |                   |   | 11,271,341 |   |
| Stock Payable                                                                                                                                                                                                                                             |   |                   | -           |   |                   |   | 25,000 |   |
| Accumulated Other Comprehensive Income                                                                                                                                                                                                                    |   |                   | (12,500     | )      |                   |   | - |   |
| Deficit Accumulated During Exploration Stage                                                                                                                                                                                                              |   |                   | (13,475,848 | )      |                   |   | (11,356,142 | ) |
|    Total Stockholders’ Equity (Deficit)                                                                                                                                                                                              |   |                   | (1,581,227  | )      |                   |   | 41,082 |   |
| TOTAL LIABILITIES, COMMITMENTS & CONTINGENCIES, & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                                                            |   | $                      | 2,676,228   |   |                   | $      | 2,843,535 |   |

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NORTH 

|                                                                                |   | 12 months ended December 31, 2012(restated) |        |   | 12 months endedDecember 31, 2011(restated) |   |        | Since inception(June 18, 2004 - December 31, 2012) (restated) |   |
|-------------------------------------------------------------------------------------|--------|---------------------------------------------|-------------|--------|--------------------------------------------|--------|-------------|---------------------------------------------------------------|--------|
|                                                                                |   |                                        |        |   |                                       |   |        |                                                          |   |
| Revenues                                                                            |   |                                        |        |   |                                       |   |        |                                                          |   |
|    Revenue                                                           |   | $                                           | -           |   |                                       | $      | -           |                                                          |   | $ | - |   |
|    Cost of Revenue                                                   |   |                                        | -           |   |                                       |   | -           |                                                          |   |   | - |   |
| Gross Profit                                                                        |   |                                        | -           |   |                                       |   | -           |                                                          |   |   | - |   |
|    Operating Expenses                                                |   |                                        |        |   |                                       |   |        |                                                          |   |   |   |   |
|    Commissions & Consulting Fees                                 |   |                                        | 9,000       |   |                                       |   | 43,216      |                                                          |   |   | 312,000 |   |
|    General & Administrative Costs                                |   |                                        | 339,524     |   |                                       |   | 345,451     |                                                          |   |   | 9,160,947 |   |
|    Mining Property Costs                                             |   |                                        | 591,926     |   |                                       |   | 265,137     |                                                          |   |   | 1,672,351 |   |
|     Depreciation Expense                                        |   |                                        | 98,673      |   |                                       |   | 60,560      |                                                          |   |   | 159,233 |   |
|     Impairment Expense                                          |   |                                        | 5,341       |   |                                       |   | 124,343     |                                                          |   |   | 145,995 |   |
|     Accretion Expense                                           |   |                                        | 513         |   |                                       |   | 243         |                                                          |   |   | 756 |   |
|    Professional Services                                             |   |                                        | 79,714      |   |                                       |   | 52,970      |                                                          |   |   | 250,432 |   |
|    Total Operating Expenses                                          |   |                                        | 1,124,691   |   |                                       |   | 891,920     |                                                          |   |   | 11,701,714 |   |
| Net Operating Loss                                                                  |   |                                        | (1,124,691  | )      |                                       |   | (891,920    | )                                                             |   |   | (11,701,714 | ) |
| Other Income (Expenses)                                                             |   |                                        |        |   |                                       |   |        |                                                          |   |   |   |   |
|    Gain on Mineral Claim Sales                                       |   |                                        | 4,500       |   |                                       |   | 103,500     |                                                          |   |   | 227,744 |   |
|    Other Income from Mineral Claims                                  |   |                                        | 32,500      |   |                                       |   | -           |                                                          |   |   | 309,649 |   |
|    Interest Income                                                   |   |                                        | 831         |   |                                       |   | 532         |                                                          |   |   | 1,472 |   |
|    Interest Expense                                                  |   |                                        | (644,773    | )      |                                       |   | (166,748    | )                                                             |   |   | (906,959 | ) |
|    Gain/Loss on Derivative Liability                                 |   |                                        | (386,833    | )      |                                       |   | -           |                                                          |   |   | (386,833 | ) |
|    Loss on Conversion of Debt                                        |   |                                        | -           |   |                                       |   | -           |                                                          |   |   | (137,000 | ) |
|    Bad Debt (Expense) / Recovery                                     |   |                                        | 982         |   |                                       |   | (29,018     | )                                                             |   |   | (47,185 | ) |
|    Loss on Settlement                                                |   |                                        | -           |   |                                       |   | (62,095     | )                                                             |   |   | (62,095 | ) |
|    Other Expense                                                     |   |                                        | (2,222      | )      |                                       |   | -           |                                                          |   |   | (2,222 | ) |
|    Realized Gain (Loss) on Investment                                |   |                                        | -           |   |                                       |   | -           |                                                          |   |   | (97,109 | ) |
| Net Other Income (Expenses)                                                         |   |                                        | (995,015    | )      |                                       |   | (153,829    | )                                                             |   |   | (1,100,538 | ) |
| Loss From Continuing Operations                                                     |   |                                        | (2,119,706  | )      |                                       |   | (1,045,749  | )                                                             |   |   | (12,802,252 | ) |
| Loss From Discontinued Operations                                                   |   |                                        | -           |   |                                       |   | -           |                                                          |   |   | (673,596 | ) |
| Net Loss                                                                            |   |                                        | (2,119,706  | )      |                                       |   | (1,045,749  | )                                                             |   |   | (13,475,848 | ) |
|     Accretion of Discount on Redeemable Common Stock            |   |                                        | (29,516)    |   |                                       |   | -           |                                                          |   |   | (29,516) |   |
|     Excess Cash Received Compared to Redeemable Amount of Stock |   |                                        | -           |   |                                       |   | 974         |                                                          |   |   | 974 |   |
|     Interest on Redeemable Common Stock                         |   |                                        | (22,701)    |   |                                       |   | (247)       |                                                          |   |   | (22,948) |   |
| Net Loss Attributable to Common Shareholders                                        |   |                                        | (2,171,923) |   |                                       |   | (1,045,022) |                                                          |   |   | (13,527,338) |   |
|    Unrealized Loss on Available For Sale Securities                  |   |                                        | (12,500     | )      |                                       |   | -           |                                                          |   |   | (12,500 | ) |
| Total Comprehensive Loss                                                            |   |                                        | (2,184,423  | )      |                                       |   | (1,045,022  | )                                                             |   |   | (13,539,838 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Basic)                                   |   |                                        | 99,799,411  |   |                                       |   | 91,479,959  |                                                          |   |   |   |   |
|  Basic Net Gain (Loss) per Share                                               |   | $                                           | (0.02       | )      |                                       | $      | (0.01       | )                                                             |   |   |   |   |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Diluted)                                 |   |                                        | 99,799,411  |   |                                       |   | 91,479,959  |                                                          |   |   |   |   |
| Diluted Net Gain (Loss) per Share                                                   |   | $                                           | (0.02       | )      |                                       | $      | (0.01       | )                                                             |   |   |   |   |

----

Table of Contents

NORTH 

|                                |   | Preferred Stock |      |   | Common Stock   |   |   |           |   |   |           |   |   |           |   |   |           |   |   |   |   |
|-------------------------------------|--------|-----------------|-----------|--------|----------------|--------|--------|----------------|--------|--------|----------------|--------|--------|----------------|--------|--------|----------------|--------|--------|--------|--------|
|                                |   | Series AShares  |      |   | Series GShares |   |   | Series IShares |   |   | Series AAmount |   |   | Series GAmount |   |   | Series IAmount |   |   | Shares |   |   | Amount |   |   | Additional Paid-In Capital |   |   | StockPayable |   |   | Accumulated Deficit |   |   | Accumulated OCI |   |   | Total Stockholders’ Deficit |   |
| Inception 6/18/2004                 |   |            | -         |   |           |   | -      |           |   |   | -              |   |   | $              | -      |   |           | $      | -      |   |   | $ | - |   |   |   | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Founder's Shares issued             |   |            | 1,200,000 |   |           |   | -      |           |   |   | -              |   |   |           | 1,200  |   |           |   | -      |   |   |   | - |   |   |   | 320,000 |   |   |   | 320 |   |   |   | (1,520 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Shares issued for merger            |   |            | 1,200,000 |   |           |   | -      |           |   |   | -              |   |   |           | 1,200  |   |           |   | -      |   |   |   | - |   |   |   | 320,000 |   |   |   | 320 |   |   |   | (1,520 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Common Stock issued for cash        |   |            | -         |   |           |   | -      |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 200,000 |   |   |   | 200 |   |   |   | 4,800 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 5,000 |   |
| Net loss for year                   |   |            | -         |   |           |   | -      |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (95,587 | ) |   |   | - |   |   |   | (95,587 | ) |
| Balance at 12/31/2004               |   |            | 2,400,000 |   |           |   | -      |           |   |   | -              |   |   | $              | 2,400  |   |           | $      | -      |   |   | $ | - |   |   |   | 840,000 |   |   | $ | 840 |   |   | $ | 1,760 |   |   | $ | - |   |   | $ | (95,587 | ) |   | $ | - |   |   | $ | (90,587 | ) |
|                                |   |            |      |   |           |   |   |           |   |   |           |   |   |           |   |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Common Stock issued to convert debt |   |            | -         |   |           |   | -      |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 12,127 |   |   |   | 12 |   |   |   | 180,213 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 180,225 |   |
| Common Stock issued for services    |   |            | -         |   |           |   | -      |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 121,491 |   |   |   | 121 |   |   |   | 2,586,046 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,586,167 |   |
| Common Stock issued for cash        |   |            | -         |   |           |   | -      |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 102,643 |   |   |   | 103 |   |   |   | 517,597 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 517,700 |   |
| Net loss for year                   |   |            | -         |   |           |   | -      |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,816,896 | ) |   |   | - |   |   |   | (1,816,896 | ) |
| Balance at 12/31/2005               |   |            | 2,400,000 |   |           |   | -      |           |   |   | -              |   |   | $              | 2,400  |   |           | $      | -      |   |   | $ | - |   |   |   | 1,076,261 |   |   | $ | 1,076 |   |   | $ | 3,285,616 |   |   | $ | - |   |   | $ | (1,912,483 | ) |   | $ | - |   |   | $ | 1,376,609 |   |

----

Table of Contents

|                                |   |  Preferred Stock |      |   | Common Stock         |   |   |                 |   |   |                 |   |   |                 |   |   |                 |   |   |         |   |
|-------------------------------------|--------|-----------------------|-----------|--------|----------------------|--------|--------|----------------------|--------|--------|----------------------|--------|--------|----------------------|--------|--------|----------------------|--------|--------|--------------|--------|
|                                |   |   Series AShares |      |   |  Series GShares |   |   |  Series IShares |   |   |  Series AAmount |   |   |  Series GAmount |   |   |  Series IAmount |   |   |  Shares |   |   |  Amount |   |   | Additional Paid-In Capital |   |   |  StockPayable |   |   |  Accumulated Deficit |   |   |  Accumulated OCI |   |   |  Total Stockholders’ Deficit |   |
| Common Stock issued to convert debt |   |                  | -         |   |                 |   | -      |                 |   |   | -                    |   |   |                 | -      |   |                 |   | -      |         |   |   | - |   |   |   | 1,202,000 |   |   |   | 1,202 |   |   |   | 2,206,398 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,207,600 |   |
| Common Stock issued for services    |   |                  | -         |   |                 |   | -      |                 |   |   | -                    |   |   |                 | -      |   |                 |   | -      |         |   |   | - |   |   |   | 1,309,000 |   |   |   | 1,309 |   |   |   | 1,543,191 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,544,500 |   |
| Expenses paid by shareholder        |   |                  | -         |   |                 |   | -      |                 |   |   | -                    |   |   |                 | -      |   |                 |   | -      |         |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 164,371 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 164,371 |   |
| Net loss for year                   |   |                  | -         |   |                 |   | -      |                 |   |   | -                    |   |   |                 | -      |   |                 |   | -      |         |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (5,504,237 | ) |   |   | - |   |   |   | (5,504,237 | ) |
| Balance at 12/31/2006               |   |                  | 2,400,000 |   |                 |   | -      |                 |   |   | -                    |   |   | $                    | 2,400  |   |                 | $      | -      |         |   | $ | - |   |   |   | 3,587,261 |   |   | $ | 3,587 |   |   | $ | 7,199,576 |   |   | $ | - |   |   | $ | (7,416,720 | ) |   | $ | - |   |   | $ | (211,157 | ) |

----

Table of Contents

|                                                   |   | Preferred Stock       |       |   |  Common Stock    |   |   |                  |   |   |                  |   |   |                  |   |   |                        |   |   |          |   |
|--------------------------------------------------------|--------|-----------------------|------------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------------|--------|--------|---------------|--------|
|                                                   |   |   Series AShares |       |   |   Series GShares |   |   |   Series IShares |   |   |   Series AAmount |   |   |   Series GAmount |   |   |   Series I Amount |   |   |   Shares |   |   |   Amount |   |   | Additional Paid-In Capital |   |   |   StockPayable |   |   |   Accumulated Deficit |   |   |   Accumulated OCI |   |   | Total Stockholders’ Deficit |   |
| Beneficial Conversion Features on notes payable        |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 62,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 62,000 |   |
| Common Stock issued to convert debt                    |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | 1,350,000 |   |   |   | 1,350 |   |   |   | 120,150 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 121,500 |   |
| Common Stock issued for services                       |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | 10,575,000 |   |   |   | 10,575 |   |   |   | 959,425 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 970,000 |   |
| Common Stock issued as interest on loan                |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | 10,000 |   |   |   | 10 |   |   |   | 1,490 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,500 |   |
| Preferred Shares issued for services                   |   |                  | -          |   |                  |   | -      |                  |   |   | 100                   |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 101,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 101,000 |   |
| Common Stock issued for conversion of preferred shares |   |                  | (2,400,000 | )      |                  |   | -      |                  |   |   | -                     |   |   |                  | (2,400 | )      |                        |   | -      |          |   |   | - |   |   |   | 1,200,000 |   |   |   | 1,200 |   |   |   | 1,200 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Shares bought back and retired                         |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | (200,000 | ) |   |   | (200 | ) |   |   | (1,800 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,000 | ) |
| Expenses paid by shareholder                           |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 70,623 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 70,623 |   |
| Net loss for year                                      |   |                  | -          |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                        |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,490,871 | ) |   |   | - |   |   |   | (1,490,871 | ) |
| Balance at 12/31/2007                                  |   |                  | -          |   |                  |   | -      |                  |   |   | 100                   |   |   | $                     | 2,400  |   |                        | $      | -      |          |   | $ | - |   |   |   | 16,522,261 |   |   | $ | 16,522 |   |   | $ | 8,513,664 |   |   | $ | - |   |   | $ | (8,907,591 | ) |   | $ | - |   |   | $ | (377,405 | ) |

----

Table of Contents

|                                  |   | Preferred Stock       |   |   | Common Stock          |   |   |                  |   |   |                  |   |   |                  |   |   |                  |   |   |          |   |
|---------------------------------------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|---------------|--------|
|                                  |   |   Series AShares |   |   |   Series GShares |   |   |   Series IShares |   |   |   Series AAmount |   |   |   Series GAmount |   |   |   Series IAmount |   |   |   Shares |   |   |   Amount |   |   | Additional Paid-In Capital |   |   |   StockPayable |   |   |   Accumulated Deficit |   |   |   Accumulated OCI |   |   |  Total Stockholders’ Deficit |   |
| Rounding of shares due to stock split |   |                  | -      |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | 26 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Common Stock issued for services      |   |                  | -      |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | 5,500,000 |   |   |   | 5,500 |   |   |   | 224,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 230,000 |   |
| Common Stock issued for cash          |   |                  | -      |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | 2,275,000 |   |   |   | 2,275 |   |   |   | 7,725 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 10,000 |   |
| Contribution from investor            |   |                  | -      |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 10,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 10,000 |   |
| Mark to market AFS securities         |   |                  | -      |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 22,780 |   |   |   | 22,780 |   |
| Net loss for year                     |   |                  | -      |   |                  |   | -      |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (328,478 | ) |   |   | - |   |   |   | (328,478 | ) |
| Balance at 12/31/2008                 |   |                  | -      |   |                  |   | -      |                  |   |   | 100                   |   |   | $                     | -      |   |                  | $      | -      |          |   | $ | - |   |   |   | 24,297,287 |   |   | $ | 24,297 |   |   | $ | 8,755,889 |   |   | $ | - |   |   | $ | (9,236,069 | ) |   | $ | 22,780 |   |   | $ | (433,103 | ) |

----

Table of Contents

|                                                |   | Preferred Stock       |      |   | Common Stock          |   |    |                  |   |   |                  |   |   |                  |   |   |                  |   |   |          |   |
|-----------------------------------------------------|--------|-----------------------|-----------|--------|-----------------------|--------|---------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|---------------|--------|
|                                                |   |   Series AShares |      |   |   Series GShares |   |    |   Series IShares |   |   |   Series AAmount |   |   |   Series GAmount |   |   |   Series IAmount |   |   |   Shares |   |   |   Amount |   |   | Additional Paid-In Capital |   |   |   StockPayable |   |   |   Accumulated Deficit |   |   |   Accumulated OCI |   |   | Total Stockholders’ Deficit |   |
| Common Stock issued for services                    |   |                  | -         |   |                  |   | -       |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | 2,500,000 |   |   |   | 2,500 |   |   |   | 27,250 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 29,750 |   |
| Preferred Stock issued for services                 |   |                  | 4,000,000 |   |                  |   | 100,000 |                  |   |   | -                     |   |   |                  | 4,000  |   |                  |   | 100    |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 249,685 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 253,785 |   |
| Common Stock issued for cash                        |   |                  | -         |   |                  |   | -       |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | 21,800,000 |   |   |   | 21,800 |   |   |   | 151,200 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 173,000 |   |
| Common Stock issued for deferred compensation       |   |                  | -         |   |                  |   | -       |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | 10,000,000 |   |   |   | 10,000 |   |   |   | 177,500 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 187,500 |   |
| Loss realized on AFS securities                     |   |                  | -         |   |                  |   | -       |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (22,780 | ) |   |   | (22,780 | ) |
| Stock payable for commitment fee on equity offering |   |                  | -         |   |                  |   | -       |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (115,310 | ) |   |   | 115,310 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Net loss for year                                   |   |                  | -         |   |                  |   | -       |                  |   |   | -                     |   |   |                  | -      |   |                  |   | -      |          |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (786,979 | ) |   |   | - |   |   |   | (786,979 | ) |
| Balance at 12/31/2009                               |   |                  | 4,000,000 |   |                  |   | 100,000 |                  |   |   | 100                   |   |   | $                     | 4,000  |   |                  | $      | 100    |          |   | $ | - |   |   |   | 58,597,287 |   |   | $ | 58,597 |   |   | $ | 9,246,214 |   |   | $ | 115,310 |   |   | $ | (10,023,048 | ) |   | $ | 22,780 |   |   | $ | (598,827 | ) |

----

Table of Contents

|                                                                                    |   | Preferred Stock      |      |                  | Common Stock |   |                  |   |   |                  |   |   |                  |   |   |                  |   |   |          |   |   |
|-----------------------------------------------------------------------------------------|--------|----------------------|-----------|-----------------------|--------------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|-----------------------|--------|--------|---------------|--------|--------|
|                                                                                    |   |  Series AShares |      |   Series GShares |         |   |   Series IShares |   |   |   Series AAmount |   |   |   Series GAmount |   |   |   Series IAmount |   |   |   Shares |   |   |   Amount |   |   | Additional Paid-In Capital |   |   |   StockPayable |   |   |   Accumulated Deficit |   |   |   Accumulated OCI |   |   | Total Stockholders’ Deficit |   |
| Common Stock issued for commitment fee on equity offering                               |   |                 | -         |                  |         |   | -                     |   |   |                  | -      |   |                  |   | -      |                  |   |   | -             |   |   |   | - |   |   |   | 6,589,147 |   |   |   | 6,589 |   |   |   | 108,721 |   |   |   | (115,310 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Common Stock issued for cash                                                            |   |                 | -         |                  |         |   | -                     |   |   |                  | -      |   |                  |   | -      |                  |   |   | -             |   |   |   | - |   |   |   | 5,000,000 |   |   |   | 5,000 |   |   |   | 45,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 50,000 |   |
| Discount on convertible notes from beneficial conversion features and attached warrants |   |                 | -         |                  |         |   | -                     |   |   |                  | -      |   |                  |   | -      |                  |   |   | -             |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 107,406 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 107,406 |   |
| Common Stock issued for Ruby Mine Purchase Option                                       |   |                 | -         |                  |         |   | -                     |   |   |                  | -      |   |                  |   | -      |                  |   |   | -             |   |   |   | - |   |   |   | 10,000,000 |   |   |   | 10,000 |   |   |   | 140,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 150,000 |   |
| Warrants issued for Purchase Option – Ruby Mine                                   |   |                 | -         |                  |         |   | -                     |   |   |                  | -      |   |                  |   | -      |                  |   |   | -             |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 149,896 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 149,896 |   |
| Net loss for year                                                                       |   |                 | -         |                  |         |   | -                     |   |   |                  | -      |   |                  |   | -      |                  |   |   | -             |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (287,345 | ) |   |   | - |   |   |   | (287,345 | ) |
| Balance at 12/31/2010                                                                   |   |                 | 4,000,000 |                  |         |   | 100,000               |   |   |                  | 100    |   |                  | $      | 4,000  |                  |   | $      | 100           |   |   | $ | - |   |   |   | 80,186,434 |   |   | $ | 80,186 |   |   | $ | 9,797,237 |   |   | $ | - |   |   | $ | (10,310,393 | ) |   | $ | - |   |   | $ | (428,870 | ) |

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Table of Contents

|                                                             |   | Preferred Stock |      |   | Common Stock   |   |    |           |   |   |           |   |   |           |   |   |           |   |   |   |   |
|------------------------------------------------------------------|--------|-----------------|-----------|--------|----------------|--------|---------|----------------|--------|--------|----------------|--------|--------|----------------|--------|--------|----------------|--------|--------|--------|--------|
|                                                             |   | Series AShares  |      |   | Series GShares |   |    | Series IShares |   |   | Series AAmount |   |   | Series GAmount |   |   | Series IAmount |   |   | Shares |   |   | Amount |   |   | Additional Paid-In Capital |   |   | StockPayable |   |   | Accumulated Deficit |   |   | Accumulated OCI |   |   | Total Stockholders’ Deficit |   |
| Common Stock issued for cash                                     |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 9,433,985 |   |   |   | 9,434 |   |   |   | 758,566 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 768,000 |   |
| Common Stock issued for convertible debt conversion              |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 4,459,092 |   |   |   | 4,459 |   |   |   | 169,393 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 173,852 |   |
| Common Stock issued for services                                 |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 42,857 |   |   |   | 43 |   |   |   | 2,957 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,000 |   |
| Common Stock issued for settlement of services                   |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 550,000 |   |   |   | 550 |   |   |   | 61,545 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 62,095 |   |
| Common Stock issued for deferred compensation                    |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 2,000,000 |   |   |   | 2,000 |   |   |   | 178,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 180,000 |   |
| Common Stock issued for directors compensation                   |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | 111,112 |   |   |   | 111 |   |   |   | 9,889 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 10,000 |   |
| Discount on convertible notes from beneficial conversion feature |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 70,568 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 70,568 |   |
| Term Extension of Ruby warrants                                  |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,519 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,519 |   |
| Warrants issued for Purchase Option – Ruby Mine            |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 219,940 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 219,940 |   |
| Stock payable for warrant exercise                               |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 25,000 |   |   |   | - |   |   |   | - |   |   |   | 25,000 |   |
| Excess cash received compared to redeemable amount for stock     |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 974 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 974 |   |
| Interest on redeemable stock                                     |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (247 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (247 | ) |
| Net loss for year (restated)                                     |   |            | -         |   |           |   | -       |           |   |   | -              |   |   |           | -      |   |           |   | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,045,749 | ) |   |   | - |   |   |   | (1,045,749 | ) |
| Balance at 12/31/2011 (restated)                                 |   |            | 4,000,000 |   |           |   | 100,000 |           |   |   | 100            |   |   | $              | 4,000  |   |           | $      | 100    |   |   | $ | - |   |   |   | 96,783,480 |   |   | $ | 96,783 |   |   | $ | 11,271,341 |   |   | $ | 25,000 |   |   | $ | (11,356,142 | ) |   | $ | - |   |   | $ | 41,082 |   |

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Table of Contents

|                                                                                   |   | Preferred Stock |      |   | Common Stock   |   |     |           |   |   |           |   |   |           |    |   |           |   |    |   |   |   |    |   |   |                            |
|----------------------------------------------------------------------------------------|--------|-----------------|-----------|--------|----------------|--------|----------|----------------|--------|--------|----------------|--------|--------|----------------|---------|--------|----------------|--------|---------|--------|--------|--------|---------|--------|--------|---------------------------------|
|                                                                                   |   | Series AShares  |      |   | Series GShares |   |     | Series IShares |   |   | Series AAmount |   |   | Series GAmount |    |   | Series IAmount |   |    | Shares |   |   | Amount  |   |   | Additional Paid-In Capital |   |   | StockPayable |   |   | Accumulated Deficit |   |   | Accumulated OCI |   |   | Total Stockholders’ Deficit |   |
| Cancellation of Series G Preferred                                                     |   |            | -         |   |           |   | (100,000 | )              |   |   | (100           | )      |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | - |   |   |   | - |   |   |   | 100 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Common Stock issued for services                                                       |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | 116,650 |   |   |   | 117 |   |   |   | 10,543 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 10,660 |   |
| Common Stock issued for deferred financing costs                                       |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | 85,000 |   |   |   | 85 |   |   |   | 5,525 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 5,610 |   |
| Common Stock issued for stock payable                                                  |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | 500,000 |   |   |   | 500 |   |   |   | 24,500 |   |   |   | (25,000 | )  |   |   | - |   |   |   | - |   |   |   | - |   |
| Mark to market AFS securities                                                          |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (12,500 | )  |   |   | (12,500 | ) |
| Settlement of Derivative Liability                                                     |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | - |   |   |   | - |   |   |   | 49,795 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 49,795 |   |
| Discount on convertible notes from beneficial conversion feature and attached warrants |   |            |  -   |   |           |   |  -  |           |   |   |  -        |   |   |           |  - |   |           |   |  - |   |   |   |  - |   |   |                            |  - |   |   |   |  - |   |   |   | 321,002 |   |   |   |  - |   |   |   |  - |   |   |   |  - |   |   |   | 321,002 |   |
| Warrants issued for modification of payment terms on mortgage payable                  |   |            |  -   |   |           |   |  -  |           |   |   |  -        |   |   |           |  - |   |           |   |  - |   |   |   |  - |   |   |                            |  - |   |   |   |  - |   |   |   | 175,047 |   |   |   |  - |   |   |   |  - |   |   |   |  - |   |   |   | 175,047 |   |
| Accretion of discount on redeemable common stock                                       |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | - |   |   |   | - |   |   |   | (29,516 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (29,516 | ) |
| Interest on redeemable common stock                                                    |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | - |   |   |   | - |   |   |   | (22,701 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (22,701 | ) |
| Net loss for period                                                                    |   |            | -         |   |           |   | -        |           |   |   | -              |   |   |           | -       |   |           |   | -       |   |   |   | -       |   |   |                            | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,119,706 | ) |   |   | - |   |   |   | (2,119,706 | ) |
| Balance at 12/31/2012(restated)                                                        |   |            | 4,000,000 |   |           |   | -        |           |   |   | -              |   |   | $              | 4,000   |   |           | $      | -       |   |   | $      | -       |   |   |                            | 97,485,130 |   |   | $ | 97,485 |   |   | $ | 11,805,636 |   |   | $ | - |   |   | $ | (13,475,848 | ) |   | $ | (12,500 | ) |   | $ | (1,581,227 | ) |

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Table of Contents

NORTH 

|                                                                                                            |   | 12 months EndedDecember 31, 2012(restated) |       |   | 12 months EndedDecember 31, 2011(restated) |   |       | Since inception(June 18, 2004 toDecember 31, 2012) |   |
|-----------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------|------------|--------|--------------------------------------------|--------|------------|----------------------------------------------------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES                                                                            |   |                                       |       |   |                                       |   |       |                                               |   |
| Net Loss                                                                                                        |   | $                                          | (2,119,706 | )      |                                       | $      | (1,045,749 | )                                                  |   | $ | (13,475,848 | ) |
| Adjustments to reconcile Net Loss to net cash used in operations:                                               |   |                                       |       |   |                                       |   |       |                                               |   |   |   |   |
| Gain on option payments received – non-cash                                                               |   |                                       | (25,050    | )      |                                       |   | -          |                                               |   |   | (135,985 | ) |
| Gain on sale of claims                                                                                          |   |                                       | (4,500     | )      |                                       |   | (73,500    | )                                                  |   |   | (182,834 | ) |
| Common Stock issued for services                                                                                |   |                                       | 10,660     |   |                                       |   | 3,000      |                                               |   |   | 5,123,677 |   |
| Common Stock issued to director for services                                                                    |   |                                       | -          |   |                                       |   | 10,000     |                                               |   |   | 10,000 |   |
| Common Stock issued for mining exploration stage property                                                       |   |                                       | -          |   |                                       |   | -          |                                               |   |   | 351,400 |   |
| Warrants issued to modify payment terms of note                                                                 |   |                                       | 175,047    |   |                                       |   | -          |                                               |   |   | 175,047 |   |
| Preferred Stock issued for bonus                                                                                |   |                                       | -          |   |                                       |   | -          |                                               |   |   | 253,785 |   |
| Loss on conversion of debt and deferred compensation                                                            |   |                                       | -          |   |                                       |   | -          |                                               |   |   | 2,150,513 |   |
| Loss on AFS securities “other than temporary”                                                       |   |                                       | -          |   |                                       |   | -          |                                               |   |   | 106,985 |   |
| Loss on settlement - Common Shares issued                                                                       |   |                                       | -          |   |                                       |   | 62,095     |                                               |   |   | 62,095 |   |
| Bad debt expense                                                                                                |   |                                       | -          |   |                                       |   | 29,018     |                                               |   |   | 48,167 |   |
| Gain realized on transfer of AFS – securities                                                             |   |                                       | -          |   |                                       |   | -          |                                               |   |   | (9,875 | ) |
| Amortization of discount on debt                                                                                |   |                                       | 356,552    |   |                                       |   | 138,475    |                                               |   |   | 575,958 |   |
| Amortization of deferred financing cost                                                                         |   |                                       | 15,639     |   |                                       |   | -          |                                               |   |   | 15,639 |   |
| Change in derivative liability                                                                                  |   |                                       | 386,833    |   |                                       |   | -          |                                               |   |   | 386,833 |   |
| Common Stock issued as interest on loan                                                                         |   |                                       | -          |   |                                       |   | -          |                                               |   |   | 1,500 |   |
| Depreciation Expense                                                                                            |   |                                       | 98,673     |   |                                       |   | 60,560     |                                               |   |   | 159,233 |   |
| Accretion Expense                                                                                               |   |                                       | 513        |   |                                       |   | 243        |                                               |   |   | 756 |   |
| Impairment Expense                                                                                              |   |                                       | 5,341      |   |                                       |   | 124,343    |                                               |   |   | 145,995 |   |
| Changes in operating assets and liabilities:                                                                    |   |                                       |       |   |                                       |   |       |                                               |   |   |   |   |
| Accounts receivable                                                                                             |   |                                       | 982        |   |                                       |   | (30,000    | )                                                  |   |   | (29,018 | ) |
| Prepaid Expenses                                                                                                |   |                                       | -          |   |                                       |   | 9,910      |                                               |   |   | 9,910 |   |
| Other assets                                                                                                    |   |                                       | 1,376      |   |                                       |   | -          |                                               |   |   | 1,376 |   |
| Accrued expenses – related party                                                                          |   |                                       | 100,000    |   |                                       |   | 136,030    |                                               |   |   | 1,200,593 |   |
| Accrued expenses                                                                                                |   |                                       | 54,149     |   |                                       |   | -          |                                               |   |   | 54,149 |   |
| Accounts Payable                                                                                                |   |                                       | 50,675     |   |                                       |   | -          |                                               |   |   | 50,675 |   |
| Other current assets                                                                                            |   |                                       | -          |   |                                       |   | (257       | )                                                  |   |   | (29,316 | ) |
| Net Cash Used in Operating Activities                                                                           |   |                                       | (892,816   | )      |                                       |   | (575,832   | )                                                  |   |   | (2,978,590 | ) |
| CASH FLOWS FROM INVESTING ACTIVITIES                                                                            |   |                                       |       |   |                                       |   |       |                                               |   |   |   |   |
| Cash paid for purchase of fixed assets                                                                          |   |                                       | -          |   |                                       |   | (12,459    | )                                                  |   |   | (12,459 | ) |
| Cash received from sales of claims                                                                              |   |                                       | 14,335     |   |                                       |   | 73,500     |                                               |   |   | 192,669 |   |
| Cash paid for claims acquired                                                                                   |   |                                       |  -    |   |                                       |   |  -    |                                               |   |   | (16,311 | )  |
| Cash paid for Ruby Purchase                                                                                     |   |                                       | -          |   |                                       |   | (277,006   | )                                                  |   |   | (361,093 | ) |
| Cash paid for purchase of Taber Mine Option                                                                     |   |                                       | -          |   |                                       |   | (4,000     | )                                                  |   |   | (4,000 | ) |
| Net Cash Provided by/Used in Investing Activities                                                               |   |                                       | 14,335     |   |                                       |   | (219,965   | )                                                  |   |   | (201,194 | ) |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                                            |   |                                       |       |   |                                       |   |       |                                               |   |   |   |   |
| Proceeds from sale of redeemable common stock                                                                   |   |                                       | 201,464    |   |                                       |   | 90,000     |                                               |   |   | 291,464 |   |
| Proceeds from sale of common stock                                                                              |   |                                       | -          |   |                                       |   | 767,000    |                                               |   |   | 1,522,700 |   |
| Deferred Financing Costs                                                                                        |   |                                       | (24,500    | )      |                                       |   | -          |                                               |   |   | (24,500 | ) |
| Contributions from related party                                                                                |   |                                       | -          |   |                                       |   | -          |                                               |   |   | 244,994 |   |
| Warrants exercised, shares not yet issued                                                                       |   |                                       | -          |   |                                       |   | 25,000     |                                               |   |   | 25,000 |   |
| Debt Repayments                                                                                                 |   |                                       | (114,363   | )      |                                       |   | (103,315   | )                                                  |   |   | (217,678 | ) |
| Shares re-purchased and retired                                                                                 |   |                                       | -          |   |                                       |   | -          |                                               |   |   | (2,000 | ) |
| Borrowings on convertible debt                                                                                  |   |                                       | 728,000    |   |                                       |   | 100,000    |                                               |   |   | 1,381,812 |   |
| Net Cash Provided by Financing Activities                                                                       |   |                                       | 790,601    |   |                                       |   | 878,685    |                                               |   |   | 3,221,792 |   |
| Net cash increase (decrease) for period                                                                         |   |                                       | (87,880    | )      |                                       |   | 82,888     |                                               |   |   | 42,008 |   |
| Cash at beginning of period                                                                                     |   |                                       | 129,888    |   |                                       |   | 47,000     |                                               |   |   | - |   |
| Cash at end of period                                                                                           |   |                                       | 42,008     |   |                                       |   | 129,888    |                                               |   |   | 42,008 |   |
| Supplementary Cash Flow Information:                                                                            |   |                                       |       |   |                                       |   |       |                                               |   |   |   |   |
| Cash Paid for Interest                                                                                          |   |                                       | -          |   |                                       |   | -          |                                               |   |   | - |   |
| Cash Paid for Taxes                                                                                             |   |                                       | -          |   |                                       |   | -          |                                               |   |   | - |   |
| Non-Cash Investing & Financing Activities:                                                                  |   |                                       |       |   |                                       |   |       |                                               |   |   |   |   |
| Common Stock issued For conversion of preferred shares                                                          |   | $                                          | -          |   |                                       | $      | -          |                                               |   | $ | 2,400 |   |
| Common Stock issued For conversion of debt and accrued salary                                                   |   | $                                          | -          |   |                                       | $      | -          |                                               |   | $ | 253,912 |   |
| Warrants issued for purchase option - Ruby Mine                                                                 |   | $                                          | -          |   |                                       | $      | 219,941    |                                               |   | $ | 369,837 |   |
| Term extension of Ruby Mine warrants                                                                            |   | $                                          | -          |   |                                       | $      | 2,519      |                                               |   | $ | 2,519 |   |
| Stock Issued  for purchase option - Ruby Mine                                                         |   | $                                          | -          |   |                                       | $      | -          |                                               |   | $ | 150,000 |   |
| Discount from beneficial conversion feature and warrants attached  to convertible notes payable       |   | $                                          | 321,002    |   |                                       | $      | 70,568     |                                               |   | $ | 177,974 |   |
| Transfer of available for sale securities to relieve accrued salary                                             |   | $                                          | -          |   |                                       | $      | -          |                                               |   | $ | 12,838 |   |
| Accrued salary relieved for shares issued                                                                       |   | $                                          | -          |   |                                       | $      | 179,999    |                                               |   | $ | 279,999 |   |
| Common and preferred shares issued as founders shares                                                           |   | $                                          | -          |   |                                       | $      | -          |                                               |   | $ | 3,040 |   |
| Capitalized costs for Ruby Mine purchase option transferred to fixed assets and mineral assets upon acquisition |   | $                                          | -          |   |                                       | $      | 801,442    |                                               |   | $ | 801,442 |   |
| Note payable for Ruby Mine acquisition                                                                          |   | $                                          | -          |   |                                       | $      | 1,990,000  |                                               |   | $ | 1,990,000 |   |
| Liabilities assumed with Ruby Mine acquisition                                                                  |   | $                                          | -          |   |                                       | $      | 174,118    |                                               |   | $ | 174,118 |   |
| Revision to Asset Retirement Obligation                                                                         |   | $                                          | 76         |   |                                       | $      | 166,714    |                                               |   | $ | 166,790 |   |
| Common stock issued for conversion of convertible debt                                                          |   | $                                          | -          |   |                                       | $      | 173,852    |                                               |   | $ | 173,852 |   |
| Common stock issued for stock payable                                                                           |   | $                                          | 25,000     |   |                                       | $      | -          |                                               |   | $ | 25,000 |   |
| Equity draw on redeemable common stock applied towards note principal owed                                 |   | $                                          | 25,536     |   |                                       | $      | -          |                                               |   | $ | 25,536 |   |
| Common Stock issued for deferred financing costs                                                                |   | $                                          | 5,610      |   |                                       | $      | -          |                                               |   | $ | 5,610 |   |
| Debt discount due to derivative liability                                                                       |   | $                                          | 159,789    |   |                                       | $      | -          |                                               |   | $ | 136,207 |   |
| Cancellation of preferred shares                                                                                |   | $                                          | 100        |   |                                       | $      | -          |                                               |   | $ | 100 |   |
| Settlement of Derivative liability                                                                              |   | $                                          | 49,795     |   |                                       | $      | -          |                                               |   | $ | 49,795 |   |
| Accretion of Discount on Redeemable Common Stock                                                                |   | $                                          | 29,516     |   |                                       | $      | -          |                                               |   | $ | 29,516 |   |
| Excess Cash Received Compared to Redeemable Amount of Stock                                                     |   | $                                          | -          |   |                                       | $      | 974        |                                               |   | $ | 974 |   |
| Interest on Redeemable Common Stock                                                                             |   | $                                          | 22,701     |   |                                       | $      | 247        |                                               |   | $ | 22,948 |   |
| Unrealized loss on AFS                                                                                          |   | $                                          | 12,500     |   |                                       | $      | -          |                                               |   | $ | 12,500 |   |

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NORTH 

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|   | Level 1. Observable inputs such as quoted prices in active markets; |
|--------|---------------------------------------------------------------------|

|   | Level 2. Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and |
|--------|---------------------------------------------------------------------------------------------------------------------|

|   | Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

|                                            |   | Balance atDecember 31, 2011 |   |   | NewIssuances |   |    | Changes inFair Values |   |   | Balance atDecember 31,2012 |   |
|-------------------------------------------------|--------|-----------------------------|--------|--------|--------------|--------|---------|-----------------------|--------|--------|----------------------------|--------|
| Level 3 –                                 |   |                        |   |   |         |   |    |                  |   |   |                       |   |   |   |   |   |
| Derivative liabilities from:                    |   |                        |   |   |         |   |    |                  |   |   |                       |   |   |   |   |   |
| Conversion features – embedded derivative |   | $                           | -      |   |         | $      | 98,366  |                  |   | $      | (16,129)                   |   |   | $ | 82,237 |   |
| Conversion features – tainted equity      |   |                        | -      |   |         |   | 37,841  |                  |   |   | 171,130                    |   |   |   | 208,971 |   |
| Warrants – tainted equity                 |   |                        | -      |   |         |   | -       |                  |   |   | 205,619                    |   |   |   | 205,619 |   |
|                                            |   | $                           | -      |   |         | $      | 136,207 |                  |   | $      | 360,620                    |   |   | $ | 496,827 |   |

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|                                            |   |    |   |   |    |   |                                        |   |   | Total      |   |
|-------------------------------------------------|--------|---------|--------|--------|---------|--------|---------------------------------------------|--------|--------|------------|--------|
|                                            |   |    |   |   |    |   |                                        |   |   | Unrealized |   |
| Description                                     |   | Level 1 |   |   | Level 2 |   | Level 3                                     |   |   | Loss       |   |
|    Available For Sale Securities |   | $       | 12,500 |   |    | $      |        - |   |   | $          | -      |   |   | $ | 12,500 |   |
|  Totals                                    |   | $       | 12,500 |   |    | $      |        - |   |   | $          | -      |   |   | $ | 12,500 |   |

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|                                                        |   | December 31, 2012 |        |   | December 31, 2011 |   |
|-------------------------------------------------------------|--------|-------------------|-------------|--------|-------------------|--------|
| Net Loss                                                    |   | $                 | (2,119,706  | )      |              | $      | (1,045,749 | ) |
| Weighted-average common shares Outstanding (Basic)          |   |              | 99,799,411  |   |              |   | 91,479,959 |   |
| Weighted-average common stock Equivalents                   |   |              | 47,532,822  |   |              |   | 37,562,250 |   |
| Deduction of stock Equivalents not included due to net loss |   |              | (47,532,822 | )      |              |   | (37,562,250 | ) |
| Weighted-average common shares Outstanding (Diluted)        |   |              | 99,799,411  |   |              |   | 91,479,959 |   |
| Basic and Diluted Net Gain (Loss) per Share                 |   | $                 | (0.02       | )      |              | $      | (0.01 | ) |

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| Acquisition Date: 07/01/11                          |                                   |                      |      |      |   |   |
|-----------------------------------------------------|----------------------------------------|---------------------------|-----------|-----------|--------|--------|
|                                                |                                   |                      |      |      |   |   |   |
| Allocation of Purchase                              |                                   | Price Purchase Allocation |      |
|                                                |                                   |                      | Debit     |      |   | Credit |   |
| Tangible Assets Acquired                            |                                   |                      |      |      |   |   |
|                                                | Cash/Checking/Savings                  |                      |      | 5,070     |   |   |   |   |
|                                                | Ruby Gold Mine Claims                  |                      |      | 1,964,279 |   |   |   |   |
|                                                | Ruby Gold Inc. Certificates of Deposit |                      |      | 171,618   |   |   |   |   |
|                                                | Property and Equipment                 |                      |      | 906,329   |   |   |   |   |
|      Total Tangible Assets |                                   |                      | 3,047,296 |      |   |   |   |
|                                                |                                   |                      |      |      |   |   |   |   |
| Assumed Liabilities                                 |                                   |                      |      |      |   |   |   |
|                                                | Short Term Notes Payable               |                      |      |      |   |   |   | 2,500 |   |
|                                                | Asset Retirement Obligation            |                      |      |      |   |   |   | 171,618 |   |
|      Total Liabilities     |                                   |                      |      |      |   |   | 174,118 |   |
| Net Tangible Assets/Liabilities                     |                                   |                      | 2,873,178 |      |   |   |   |   |
| Goodwill                                            |                                   |                      |      | 5,341     |   |   |   |   |   |
| Total Net Assets Acquired                           |                                   |                      | 2,878,519 |      |   |   |   |   |
|                                                |                                   |                      |      |      |   |   |   |   |   |

|                                                               |   |   |   |   |   |   |
|--------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Consideration Paid                                                 |   | Debit  |   |   | Credit |   |
| Cash Paid (Option Agreement & Purchase Agreement) - prior year |   |   | -      |   |   |   | 80,000 |   |
| Cash Paid (Option Agreement & Purchase Agreement)              |   |   | -      |   |   |   | 280,000 |   |
| Fees Paid Escrow Agent at Closing                                  |   |   | -      |   |   |   | 2,076 |   |
| Value of Extension of term for 9/27/10 Warrants issued             |   |   | -      |   |   |   | 2,519 |   |
| Note Payable at closing                                            |   |   | -      |   |   |   | 1,990,000 |   |
| Warrant (10,000,000 @$0.02 to 9/27/10 - 12/30/12) - prior year     |   |   | -      |   |   |   | 149,896 |   |
| Warrant (2,000,000 @$0.10 to 4/22/11 - 5/1/16)                     |   |   | -      |   |   |   | 219,941 |   |
| Due diligence fees paid in cash in prior year                      |   |   | -      |   |   |   | 4,087 |   |
| Common Stock valued at $150,000 - prior year                       |   |   | -      |   |   |   | 150,000 |   |
| Total Consideration Paid                                           |   |   | -      |   |   |   | 2,878,519 |   |

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|                                |   | December 31, |     |   | December 31, |   |
|-------------------------------------|--------|--------------|----------|--------|--------------|--------|
|                                |   | 2012         |     |   | 2011         |   |
|                                |   |         |     |   |         |   |
| Buildings                           |   | $            | 558,885  |   |         | $      | 558,885 |   |
| Machinery and equipment             |   |         | 119,389  |   |         |   | 119,389 |   |
| Vehicles                            |   |         | 240,514  |   |         |   | 240,514 |   |
| Total property, plant and equipment |   |         | 918,788  |   |         |   | 918,788 |   |
|                                |   |         |     |   |         |   |   |   |
| Less: impairment expense(2)         |   |         | (124,343 | )      |         |   | (124,343 | ) |
| Less: accumulated depreciation(3)   |   |         | (159,233 | )      |         |   | (60,560 | ) |
|                                |   |         |     |   |         |   |   |   |
| Property, plant and equipment, net  |   | $            | 635,212  |   |         | $      | 733,885 |   |

|                           |   | December 31, |      |   | December 31, |   |
|--------------------------------|--------|--------------|-----------|--------|--------------|--------|
|                           |   | 2012         |      |   | 2011         |   |
|                           |   |         |      |   |         |   |
| Mining claims (1)              |   | $            | 1,792,660 |   |         | $      | 1,792,660 |   |
| Asset retirement costs         |   |         | 4,828     |   |         |   | 4,904 |   |
| Total mineral claim assets     |   |         | 1,797,488 |   |         |   | 1,797,564 |   |
| Less: accumulated depletion(3) |   |         | -         |   |         |   | - |   |
|                           |   |         |      |   |         |   |   |   |
| Mining claims, net             |   | $            | 1,797,488 |   |         | $      | 1,797,564 |   |

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|                                                                  |   | December 31, 2012 |      |   | December 31,2011 |   |
|-----------------------------------------------------------------------|--------|-------------------|-----------|--------|------------------|--------|
| Mortgage payable – Ruby Mine                                    |   | $                 | 1,774,822 |   |             | $      | 1,889,185 |   |
| Unsecured note payable with annual interest rate of 8%                |   |              | -         |   |             |   | 25,000 |   |
| Discount on note payable                                              |   |              | -         |   |             |   | (20,568 | ) |
| Net note payable                                                      |   |              | -         |   |             |   | 4,432 |   |
| Convertible notes:                                                    |   |              |      |   |             |   |   |   |
| Unsecured convertible notes payable with annual interest rate of 9.9% |   |              | 275,000   |   |             |   | 25,000 |   |
| Unsecured convertible notes payable with annual interest rate of 8%   |   |              | 113,000   |   |             |   | - |   |
| Unsecured convertible notes payable with annual interest rate of 7%   |   |              | 260,000   |   |             |   | - |   |
| Unsecured convertible notes payable with annual interest rate of 5%   |   |              | 126,500   |   |             |   | - |   |
| Discount on convertible notes from derivative valuation               |   |              | (166,307  | )      |             |   | - |   |
| Total convertible notes                                               |   |              | 608,193   |   |             |   | 25,000 |   |
| Total Debt                                                            |   | $                 | 2,383,015 |   |             |   | 1,918,617 |   |

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| Derivative Liability at December 31, 2011                                                               |   | $      | -       |   |
|---------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|
| Derivative Liability for Convertible Debt (Recorded as discount on debt due to it being a new issuance) |   |   | 159,789 |   |
| Settlement to APIC from Warrants Exercise                                                               |   |   | (49,795 | )      |
| Loss on Derivative Liability                                                                            |   |   | 386,833 |   |
| Derivative Liability at December 31, 2012                                                               |   | $      | 496,827 |   |

| Derivative Liabilities:                                             |   | December 31, 2012 |    |   | December 31, 2011 |   |
|---------------------------------------------------------------------|--------|-------------------|---------|--------|-------------------|--------|
| Embedded derivative liability in convertible debt                   |   | $                 | 82,237  |   |              | $      | - |   |
| Derivative liability due to tainted equity – convertible debt |   |              | 208,971 |   |              |   | - |   |
| Derivative liability due to tainted equity – warrants         |   |              | 205,619 |   |              |   | - |   |
| Total Derivative Liability                                          |   | $                 | 496,827 |   |              | $      | - |   |

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| Cash received for 880,982 shares issued after October 24, 2011 |   | $      | 89,000  |   |
|----------------------------------------------------------------|--------|--------|---------|--------|
| Mark redeemable common stock down to the redeemable amount     |   |   | (974)   |   |
| Interest on redeemable common stock                            |   |   | 247     |   |
| Redeemable common stock value at December 31, 2011             |   | $      | 88,273  |   |
| Cash and note relief received for 3,636,619 shares issued      |   |   | 227,000 |   |
| Mark redeemable common stock up to the redeemable amount       |   |   | 29,516  |   |
| Interest on redeemable common stock                            |   |   | 22,701  |   |
| Redeemable common stock value at December 31, 2012             |   | $      | 367,490 |   |

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|                                                                     |   | 2012   |       |   | 2011   |   |
|--------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
| Deferred Tax Asset:                                                      |   |   |       |   |   |   |
| Net Operating Loss Carryforwards                                         |   | $      | 2,138,602  |   |   | $      | 1,804,852 |   |
| Current Year Net Operating Loss/(Gain)                                   |   |   | 990,808    |   |   |   | 333,750 |   |
| Total Operating Loss Carryforward                                        |   |   | 3,129,410  |   |   |   | 2,138,602 |   |
| Enacted Future Tax Rate                                                  |   |   | 35         | %      |   |   | 35 | % |
| Deferred Tax Asset for NOL                                               |   |   | 1,095,294  |   |   |   | 748,511 |   |
| Deferred Tax Asset for Temporary Differences Between Book and Tax Income |   |   | 69,932     |   |   |   | 711,999 |   |
| Gross Deferred Tax Asset                                                 |   |   | 1,165,226  |   |   |   | 1,460,510 |   |
| Valuation Allowance                                                      |   |   | (1,165,226 | )      |   |   | (1,460,510 | ) |
| Net Deferred Tax Asset                                                   |   |   | -          |   |   |   | - |   |

| Date                             |   | Type of Stock |   | Number of Shares |       |   | Value  |   |
|----------------------------------|--------|---------------|--------|-----------------------|------------|--------|--------|--------|
|   2/12/2007            |   | Preferred     |   |                  | 100        |   |   | $      | 101,000 |   |
|     2/9/2007 |   | Common        |   |                  | 250,000    |   |   | $      | 31,250 |   |
| 12/21/2007                       |   | Common        |   |                  | 10,000,000 |   |   | $      | 900,000 |   |
| 12/16/2008                       |   | Common        |   |                  | 2,500,000  |   |   | $      | 50,000 |   |
| 8/11/2009                        |   | Preferred     |   |                  | 4,100,000  |   |   | $      | 253,785 |   |

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| Cost estimate for reclamation work at today's cost |   | $      | 172,914 |   |
|----------------------------------------------------|--------|--------|---------|--------|
| Estimated life of mine (years)                     |   |   | 50      |   |
| Risk adjusted rate (borrowing rate)                |   |   | 9.9     | %      |
| Estimated inflation rate                           |   |   | 2.4     | %      |

|                                                                  |   | Asset Retirement Obligation |
|-----------------------------------------------------------------------|--------|-----------------------------|
| Estimated asset retirement obligation at time of acquisition (7/1/11) |   | $                           | 171,618 |   |
| Accretion Expense                                                     |   |                        | 243 |   |
| Revisions to asset retirement obligation                              |   |                        | (166,714 | ) |
| Asset retirement obligation at 12/31/11                               |   | $                           | 5,147 |   |
| Accretion Expense                                                     |   |                        | 513 |   |
| Revisions to asset retirement obligation                              |   |                        | (76 | ) |
| Asset retirement obligation at 12/31/12                               |   | $                           | 5,584 |   |

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| Stock Price on Measurement Date |   | $      | 0.015 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.02  |   |
| Term of Warrants (years)        |   |   | 2.26  |   |
| Computed Volatility             |   |   | 440   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 0.44  | %      |

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| Stock Price on Measurement Date |   | $      | 0.015 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.05  |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 440   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 1.31  | %      |

| Stock Price on Measurement Date |   | $      | 0.029 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.05  |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 375   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 2.06  | %      |

| Stock Price on Measurement Date |   | $      | 0.11 |   |
|---------------------------------|--------|--------|------|--------|
| Exercise Price of Warrants      |   | $      | 0.10 |   |
| Term of Warrants (years)        |   |   | 5.00 |   |
| Computed Volatility             |   |   | 324  | %      |
| Annual Dividends                |   |   | 0.00 | %      |
| Discount Rate                   |   |   | 2.12 | %      |

| Stock Price on Measurement Date |   | $      | 0.08  |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.115 |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 158   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 0.83  | %      |

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| Stock Price on Measurement Date |   | $      | 0.12 |   |
|---------------------------------|--------|--------|------|--------|
| Exercise Price of Warrants      |   | $      | 0.13 |   |
| Term of Warrants (years)        |   |   | 5.00 |   |
| Computed Volatility             |   |   | 157  | %      |
| Annual Dividends                |   |   | 0.00 | %      |
| Discount Rate                   |   |   | 1.04 | %      |

| Stock Price on Measurement Date |   | $      | 0.095 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.09  |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 155   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 0.83  | %      |

| Stock Price on Measurement Date |   | $      | 0.098 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.09  |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 155   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 1.33  | %      |

| Stock Price on Measurement Date |   | $      | 0.07 |   |
|---------------------------------|--------|--------|------|--------|
| Exercise Price of Warrants      |   | $      | 0.07 |   |
| Term of Warrants (years)        |   |   | 5.00 |   |
| Computed Volatility             |   |   | 145  | %      |
| Annual Dividends                |   |   | 0.00 | %      |
| Discount Rate                   |   |   | 0.75 | %      |

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| Stock Price on Measurement Date |   | $      | 0.07 |   |
|---------------------------------|--------|--------|------|--------|
| Exercise Price of Warrants      |   | $      | 0.06 |   |
| Term of Warrants (years)        |   |   | 5.00 |   |
| Computed Volatility             |   |   | 142  | %      |
| Annual Dividends                |   |   | 0.00 | %      |
| Discount Rate                   |   |   | 0.69 | %      |

| Stock Price on Measurement Date |   | $      | 0.075 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.07  |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 140   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 0.71  | %      |

| Stock Price on Measurement Date |   | $      | 0.075 |   |
|---------------------------------|--------|--------|-------|--------|
| Exercise Price of Warrants      |   | $      | 0.14  |   |
| Term of Warrants (years)        |   |   | 5.00  |   |
| Computed Volatility             |   |   | 140   | %      |
| Annual Dividends                |   |   | 0.00  | %      |
| Discount Rate                   |   |   | 0.71  | %      |

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|                             |   |        |       |   |           |   |   | Weighted     |   |
|----------------------------------|--------|-------------|------------|--------|----------------|--------|--------|--------------|--------|
|                             |   |        |       |   | Weighted       |   |   | Average      |   |
|                             |   |        |       |   | Average        |   |   | Remaining    |   |
|                             |   | Number      |       |   | Exercise Price |   |   | Contractual  |   |
|                             |   | Outstanding |       |   | Per Share      |   |   | Life (Years) |   |
| Outstanding at December 31, 2009 |   |        | -          |   |           |   | -      |         |   |   | - |   |
| Granted                          |   |        | 13,000,000 |   |           |   | 0.024  |         |   |   | 2.62 |   |
| Exercised                        |   |        | -          |   |           |   | -      |         |   |   | - |   |
| Canceled/forfeited/expired       |   |        | -          |   |           |   | -      |         |   |   | - |   |
| Outstanding at December 31, 2010 |   |        | 13,000,000 |   |           |   | 0.024  |         |   |   | 2.62 |   |
| Granted                          |   |        | 2,250,000  |   |           |   | 0.10   |         |   |   | 5.00 |   |
| Exercised(2)                     |   |        | -          |   |           |   | -      |         |   |   | - |   |
| Canceled/forfeited/expired       |   |        | -          |   |           |   | -      |         |   |   | - |   |
| Outstanding at December 31, 2011 |   |        | 15,250,000 |   |           |   | 0.037  |         |   |   | 3.75 | (1) |
| Granted                          |   |        | 4,800,000  |   |           |   | 0.10   |         |   |   | 5.00 |   |
| Exercised                        |   |        | (500,000)  |   |           |   | 0.05   |         |   |   | - |   |
| Canceled/forfeited/expired       |   |        | -          |   |           |   | -      |         |   |   | - |   |
| Outstanding at December 31, 2012 |   |        | 19,550,000 |   |           |   | 0.045  |         |   |   | 3.75 | (1) |

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Table of Contents

|                                                                                                                                                                                                                                                      |   | Dec 31, 2012As Previously Reported |        |   | Adjustments |   |     | AsRestated |   |   | Dec 31, 2011As Previously Reported |   |   | Adjustments |        |   | AsRestated |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|-------------|--------|-------------|--------|----------|------------|--------|--------|------------------------------------|--------|--------|-------------|-------------|--------|------------|--------|
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |
| ASSETS                                                                                                                                                                                                                                                    |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |
|    Current Assets                                                                                                                                                                                                                          |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |
|    Cash                                                                                                                                                                                                                                    |   | $                                  | 42,008      |   |        |   | -        |       |   |   | 42,008                             |   |   | $           | 129,888     |   |       |   | - |   |   |   | 129,888 |   |
|    Accounts Receivable                                                                                                                                                                                                                     |   |                               | -           |   |        |   |     |       |   |   | -                                  |   |   |        | 982         |   |       |   |   |   |   |   | 982 |   |
|    Total Current Assets                                                                                                                                                                                                                    |   |                               | 42,008      |   |        |   | -        |       |   |   | 42,008                             |   |   |        | 130,870     |   |       |   | - |   |   |   | 130,870 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Other Assets                                                                                                                                                                                                                            |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Certificates of Deposit                                                                                                                                                                                                                 |   |                               | 172,499     |   |        |   | -        |       |   |   | 172,499                            |   |   |        | 171,875     |   |       |   | - |   |   |   | 171,875 |   |
|    Deferred Financing Costs, net                                                                                                                                                                                                           |   |                               | 14,471      |   |        |   | -        |       |   |   | 14,471                             |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Goodwill                                                                                                                                                                                                                                |   |                               | -           |   |        |   | -        |       |   |   | -                                  |   |   |        | 5,341       |   |       |   | - |   |   |   | 5,341 |   |
|    Mining Claims – Unproved                                                                                                                                                                                                          |   |                               | 1,797,488   |   |        |   | -        |       |   |   | 1,797,488                          |   |   |        | 1,891,845   |   |       |   | (94,281 | ) |   |   | 1,797,564 |   |
|    Property, Plant & Equipment, net of accumulated depreciation                                                                                                                                                                        |   |                               | 635,212     |   |        |   | -        |       |   |   | 635,212                            |   |   |        | 733,885     |   |       |   | - |   |   |   | 733,885 |   |
|    Other Assets                                                                                                                                                                                                                            |   |                               | -           |   |        |   | -        |       |   |   | -                                  |   |   |        | 4,000       |   |       |   | - |   |   |   | 4,000 |   |
|    Available For Sale Securities                                                                                                                                                                                                           |   |                               | 12,550      |   |        |   | -        |       |   |   | 12,550                             |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Reclamation Bond – Fraser River                                                                                                                                                                                                   |   |                               | 2,000       |   |        |   | -        |       |   |   | 2,000                              |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Total Other Assets                                                                                                                                                                                                                      |   |                               | 2,634,220   |   |        |   | -        |       |   |   | 2,634,220                          |   |   |        | 2,806,946   |   |       |   | (94,281 | ) |   |   | 2,712,665 |   |
| TOTAL ASSETS                                                                                                                                                                                                                                              |   | $                                  | 2,676,228   |   |        |   | -        |       |   |   | 2,676,228                          |   |   | $           | 2,937,816   |   |       |   | (94,281 | ) |   |   | 2,843,535 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                                                                                                    |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Liabilities                                                                                                                                                                                                                             |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Current Liabilities                                                                                                                                                                                                                     |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Accounts Payable                                                                                                                                                                                                                        |   | $                                  | 56,617      |   |        |   | -        |       |   |   | 56,617                             |   |   | $           | 5,942       |   |       |   | - |   |   |   | 5,942 |   |
|    Accrued Expenses - Related Party                                                                                                                                                                                                        |   |                               | 884,474     |   |        |   | -        |       |   |   | 884,474                            |   |   |        | 784,474     |   |       |   | - |   |   |   | 784,474 |   |
|    Accrued Expenses – Ruby Mine                                                                                                                                                                                                      |   |                               | 12,250      |   |        |   | -        |       |   |   | 12,250                             |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Accrued Interest                                                                                                                                                                                                                        |   |                               | 41,363      |   |        |   | -        |       |   |   | 41,363                             |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Convertible notes payable (net of discounts of $166,307 and $0, respectively)                                                                                                                                                           |   |                               | 608,193     |   |        |   | -        |       |   |   | 608,193                            |   |   |        | 25,000      |   |       |   | - |   |   |   | 25,000 |   |
|    Deferred Gain                                                                                                                                                                                                                           |   |                               | 9,835       |   |        |   | -        |       |   |   | 9,835                              |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Derivative Liability                                                                                                                                                                                                                    |   |                               | 496,827     |   |        |   | -        |       |   |   | 496,827                            |   |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Note Payable – Ruby Mine Mortgage                                                                                                                                                                                                 |   |                               | 1,774,822   |   |        |   | -        |       |   |   | 1,774,822                          |   |   |        | 1,889,185   |   |       |   | - |   |   |   | 1,889,185 |   |
|    Note Payable (net of discounts of $0 and $20,568, respectively)                                                                                                                                                                         |   |                               | -           |   |        |   | -        |       |   |   | -                                  |   |   |        | 4,432       |   |       |   | - |   |   |   | 4,432 |   |
|    Total Current Liabilities                                                                                                                                                                                                               |   |                               | 3,884,381   |   |        |   | -        |       |   |   | 3,884,381                          |   |   |        | 2,709,033   |   |       |   | - |   |   |   | 2,709,033 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Long-Term Liabilities                                                                                                                                                                                                                   |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Asset Retirement Obligation                                                                                                                                                                                                             |   |                               | 5,584       |   |        |   | -        |       |   |   | 5,584                              |   |   |        | 5,147       |   |       |   | - |   |   |   | 5,147 |   |
|    Total Long-Term Liabilities                                                                                                                                                                                                             |   |                               | 5,584       |   |        |   | -        |       |   |   | 5,584                              |   |   |        | 5,147       |   |       |   | - |   |   |   | 5,147 |   |
|    Total Liabilities                                                                                                                                                                                                                       |   | $                                  | 3,889,965   |   |        |   | -        |       |   |   | 3,889,965                          |   |   | $           | 2,714,180   |   |       |   | - |   |   |   | 2,714,180 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| Commitment & Contingencies                                                                                                                                                                                                                            |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| Common shares subject to redemption, stated at estimated redemption value, 4,517,601 and 880,982 shares outstanding at December 31, 2012 and December 31, 2011, respectively                                                                              |   | $                                  | -           |   |        |   | 367,490  |       |   |   | 367,490                            |   |   |        | -           |   |       |   | 88,273 |   |   |   | 88,273 |   |
| Total Commitment & Contingencies                                                                                                                                                                                                                      |   | $                                  | -           |   |        |   | 367,490  |       |   |   | 367,490                            |   |   |        | -           |   |       |   | 88,273 |   |   |   | 88,273 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
|    Stockholders’ Equity (Deficit)                                                                                                                                                                                                    |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| Preferred stock, Series I, $0.001 par value, 100 shares authorized, 100 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively                                                                                            |   |                               | -           |   |        |   | -        |       |   |   |                               |   |   |        | -           |   |       |   | - |   |   |   |   |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| Convertible Preferred stock, Series A, $0.001 par value, 8,000,000 shares authorized, 4,000,000 and 4,000,000 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively                                                      |   |                               | 4,000       |   |        |   | -        |       |   |   | 4,000                              |   |   |        | 4,000       |   |       |   | - |   |   |   | 4,000 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| Convertible Preferred stock, Series G, $0.001 par value, 0 and 1,500,000 shares authorized at December 31, 2012 and December 31, 2011, respectively, 0 and 100,000 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively |   |                               | -           |   |        |   | -        |       |   |   | -                                  |   |   |        | 100         |   |       |   | - |   |   |   | 100 |   |
|                                                                                                                                                                                                                                                      |   |                               |        |   |        |   |     |       |   |   |                               |   |   |        |        |   |       |   |   |   |   |   |   |   |
| Common stock, $0.001 par value, 250,000,000 shares authorized, 97,485,130 and 96,783,480 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively                                                                           |   |                               | 102,003     |   |        |   | (4,518   | )          |   |   | 97,485                             |   |   |        | 97,664      |   |       |   | (881 | ) |   |   | 96,783 |   |
|    Additional Paid-In Capital                                                                                                                                                                                                              |   |                               | 12,168,608  |   |        |   | (362,972 | )          |   |   | 11,805,636                         |   |   |        | 11,358,733  |   |       |   | (87,392 | ) |   |   | 11,271,341 |   |
|    Stock Payable                                                                                                                                                                                                                           |   |                               | -           |   |        |   | -        |       |   |   | -                                  |   |   |        | 25,000      |   |       |   | - |   |   |   | 25,000 |   |
|    Accumulated Other Comprehensive Income                                                                                                                                                                                                  |   |                               | (12,500     | )      |        |   | -        |       |   |   | (12,500                            | )      |   |        | -           |   |       |   | - |   |   |   | - |   |
|    Deficit Accumulated During Exploration Stage                                                                                                                                                                                            |   |                               | (13,475,848 | )      |        |   | -        |       |   |   | (13,475,848                        | )      |   |        | (11,261,861 | )      |       |   | (94,281 | ) |   |   | (11,356,142 | ) |
|    Total Stockholders’ Equity (Deficit)                                                                                                                                                                                              |   |                               | (1,213,737  | )      |        |   | (367,490 | )          |   |   | (1,581,227                         | )      |   |        | 223,636     |   |       |   | (182,554 | ) |   |   | 41,082 |   |
| TOTAL LIABILITIES, COMMITMENTS & CONTINGENCIES, & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                                                            |   | $                                  | 2,676,228   |   |        |   | -        |       |   |   | 2,676,228                          |   |   | $           | 2,937,816   |   |       |   |   |   |   |   | 2,843,535 |   |

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Table of Contents

|                                                                                |   | 12 months endedDecember 31, 2011 |       |   | Adjustments |   |    | As restated |   |
|-------------------------------------------------------------------------------------|--------|----------------------------------|------------|--------|-------------|--------|---------|-------------|--------|
|    Revenues                                                          |   |                             |       |   |        |   |    |        |   |
|    Retail Sales (revenue prior to change to mining company in 2006)  |   | $                                | -          |   |        | $      | -       |        |   | $ | - |   |
|    Cost of Revenue                                                   |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Gross Loss                                                        |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|                                                                                |   |                             |       |   |        |   |    |        |   |   |   |   |
|    Operating Expenses                                                |   |                             |       |   |        |   |    |        |   |   |   |   |
|    Commissions & Consulting Fees                                 |   |                             | 43,216     |   |        |   | -       |        |   |   | 43,216 |   |
|    General & Administrative Costs                                |   |                             | 345,451    |   |        |   | -       |        |   |   | 345,451 |   |
|    Mining Property Costs                                             |   |                             | 170,856    |   |        |   | 94,281  |        |   |   | 265,137 |   |
|     Impairment Expense                                          |   |                             | 124,343    |   |        |   | -       |        |   |   | 124,343 |   |
|     Accretion Expense                                           |   |                             | 243        |   |        |   | -       |        |   |   | 243 |   |
|     Depreciation Expense                                        |   |                             | 60,560     |   |        |   | -       |        |   |   | 60,560 |   |
|    Professional Services                                             |   |                             | 52,970     |   |        |   | -       |        |   |   | 52,970 |   |
|    Total Operating Expenses                                          |   |                             | 797,639    |   |        |   | 94,281  |        |   |   | 891,920 |   |
|    Net Operating Loss                                                |   |                             | (797,639   | )      |        |   | (94,281 | )           |   |   | (891,920 | ) |
|    Other Income (Expenses)                                           |   |                             |       |   |        |   |    |        |   |   |   |   |
|    Gain on Mineral Claim Sales                                       |   |                             | 103,500    |   |        |   | -       |        |   |   | 103,500 |   |
|    Gain on Joint-Ventures                                            |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Impairment Expense                                                     |   |                             |  -    |   |        |   |  - |        |   |   |  - |   |
|    Interest Income                                                   |   |                             | 532        |   |        |   | -       |        |   |   | 532 |   |
|    Interest Expense                                                  |   |                             | (166,748   | )      |        |   | -       |        |   |   | (166,748 | ) |
|    Loss on Conversion of Debt                                        |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Bad Debt Expense                                                  |   |                             | (29,018    | )      |        |   | -       |        |   |   | (29,018 | ) |
|    Accretion Expense                                                      |   |                             |  -    |   |        |   |  - |        |   |   |  - |   |
|    Other Expense                                                          |   |                             |  -    |   |        |   |  - |        |   |   |  - |   |
|    Loss on Settlement                                                |   |                             | (62,095    | )      |        |   | -       |        |   |   | (62,095 | ) |
|    Realized Gain (Loss) on Investment                                |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Gain (Loss) on Derivative Liability                                    |   |                             |  -    |   |        |   |  - |        |   |   |  - |   |
|    Net Other Income (Expenses)                                       |   |                             | (153,829   | )      |        |   | -       |        |   |   | (153,829 | ) |
| Net Loss                                                                            |   |                             | (951,468   | )      |        |   | (94,281 | )           |   |   | (1,045,749 | ) |
|     Excess Cash Received Compared to Redeemable Amount of Stock |   |                             | -          |   |        |   | 974     |        |   |   | 974 |   |
|     Interest on Redeemable Common Stock                         |   |                             | -          |   |        |   | (247    | )           |   |   | (247 | ) |
| Net Loss Attributable to Common Shareholders                                        |   |                             | (951,468   | )      |        |   | (93,554 | )           |   |   | (1,045,022 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Basic)                                   |   |                             | 91,479,959 |   |        |   | -       |        |   |   | 91,479,959 |   |
|  Basic Net Gain (Loss) per Share                                               |   | $                                | (0.01      | )      |        |   |    |        |   | $ | (0.01 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Diluted)                                 |   |                             | 91,479,959 |   |        |   | -       |        |   |   | 91,479,959 |   |
| Diluted Net Gain (Loss) per Share                                                   |   | $                                | (0.01      | )      |        |   | -       |        |   | $ | (0.01 | ) |

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Table of Contents

|                                                                     |   | 12 months endedDecember 31, 2012 |       |   | Adjustments |   |    | As restated |   |
|--------------------------------------------------------------------------|--------|----------------------------------|------------|--------|-------------|--------|---------|-------------|--------|
| Revenues                                                                 |   |                             |       |   |        |   |    |        |   |
|    Revenue                                                |   | $                                | -          |   |        | $      | -       |        |   | $ | - |   |
|    Cost of Revenue                                        |   |                             | -          |   |        |   | -       |        |   |   | - |   |
| Gross Profit                                                             |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Operating Expenses                                     |   |                             |       |   |        |   |    |        |   |   |   |   |
|    Commissions & Consulting Fees                      |   |                             | 9,000      |   |        |   |    |        |   |   | 9,000 |   |
|    General & Administrative Costs                     |   |                             | 339,524    |   |        |   | -       |        |   |   | 339,524 |   |
|    Mining Property Costs                                  |   |                             | 591,926    |   |        |   | -       |        |   |   | 591,926 |   |
|     Depreciation Expense                             |   |                             | 98,673     |   |        |   | -       |        |   |   | 98,673 |   |
|     Impairment Expense                               |   |                             | 5,341      |   |        |   | -       |        |   |   | 5,341 |   |
|     Accretion Expense                                |   |                             | 513        |   |        |   | -       |        |   |   | 513 |   |
|    Professional Services                                  |   |                             | 79,714     |   |        |   | -       |        |   |   | 79,714 |   |
|    Total Operating Expenses                               |   |                             | 1,124,691  |   |        |   | -       |        |   |   | 1,124,691 |   |
| Net Operating Loss                                                       |   |                             | (1,124,691 | )      |        |   | -       |        |   |   | (1,124,691 | ) |
| Other Income (Expenses)                                                  |   |                             |       |   |        |   | -       |        |   |   |   |   |
|    Gain on Mineral Claim Sales                            |   |                             | 4,500      |   |        |   |    |        |   |   | 4,500 |   |
|    Other Income from Mineral Claims                       |   |                             | 32,500     |   |        |   | -       |        |   |   | 32,500 |   |
|    Interest Income                                        |   |                             | 831        |   |        |   | -       |        |   |   | 831 |   |
|    Interest Expense                                       |   |                             | (644,773   | )      |        |   |  - |        |   |   | (644,773 | ) |
|    Gain/Loss on Derivative Liability                      |   |                             | (386,833   | )      |        |   | -       |        |   |   | (386,833 | ) |
|    Loss on Conversion of Debt                             |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Bad Debt (Expense) / Recovery                          |   |                             | 982        |   |        |   | -       |        |   |   | 982 |   |
|    Loss on Settlement                                     |   |                             | -          |   |        |   | -       |        |   |   | - |   |
|    Other Expense                                          |   |                             | (2,222     | )      |        |   |  - |        |   |   | (2,222 | ) |
|    Realized Gain (Loss) on Investment                     |   |                             | -          |   |        |   |  - |        |   |   | - |   |
| Net Other Income (Expenses)                                              |   |                             | (995,015   | )      |        |   | -       |        |   |   | (995,015 | ) |
| Loss From Continuing Operations                                          |   |                             | (2,119,706 | )      |        |   | -       |        |   |   | (2,119,706 | ) |
| Loss From Discontinued Operations                                        |   |                             | -          |   |        |   |  - |        |   |   | - |   |
| Net Loss                                                                 |   |                             | (2,119,706 | )      |        |   | -       |        |   |   | (2,119,706 | ) |
|     Accretion of Discount on Redeemable Common Stock |   |                             | -          |   |        |   | (29,516 | )           |   |   | (29,516 | ) |
|     Interest on Redeemable Common Stock              |   |                             | -          |   |        |   | (22,701 | )           |   |   | (22,701 | ) |
| Net Loss Attributable to Common Shareholders                             |   |                             | (2,119,706 | )      |        |   | (52,217 | )           |   |   | (2,171,923 | ) |
|    Unrealized Loss on Available For Sale Securities       |   |                             | (12,500    | )      |        |   | -       |        |   |   | (12,500 | ) |
| Total Comprehensive Loss                                                 |   |                             | (2,132,206 | )      |        |   |    |        |   |   | (2,184,423 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Basic)                        |   |                             | 99,799,411 |   |        |   | -       |        |   |   | 99,799,411 |   |
|  Basic Net Gain (Loss) per Share                                    |   | $                                | (0.02      | )      |        |   | -       |        |   | $ | (0.02 | ) |

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Table of Contents

|                                                                                                                                                                     |   | Mar 31, 2012(as reported) |        |   | Adjustments |   |     | As Restated |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|-------------|--------|----------|-------------|--------|
| ASSETS                                                                                                                                                                   |   |                      |        |   |        |   |     |        |   |
|    Current Assets                                                                                                                                         |   |                      |        |   |        |   |     |        |   |
|    Cash                                                                                                                                                   |   | $                         | 118,734     |   |        |   | -        |        |   | $ | 118,734 |   |
|    Accounts Receivable                                                                                                                                    |   |                      | -           |   |        |   | -        |        |   |   | - |   |
|    Total Current Assets                                                                                                                                   |   |                      | 118,734     |   |        |   | -        |        |   |   | 118,734 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Other Assets                                                                                                                                           |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Certificates of Deposit                                                                                                                                |   |                      | 172,133     |   |        |   | -        |        |   |   | 172,133 |   |
|    Goodwill                                                                                                                                               |   |                      | 5,341       |   |        |   | -        |        |   |   | 5,341 |   |
|    Mining Claims - Unproved                                                                                                                               |   |                      | 2,004,295   |   |        |   | (206,550 | )           |   |   | 1,797,745 |   |
|    Property, Plant & Equipment, net of accumulated depreciation                                                                                       |   |                      | 707,700     |   |        |   | -        |        |   |   | 707,700 |   |
|    Purchase Option - Taber Mine                                                                                                                           |   |                      | 10,000      |   |        |   | -        |        |   |   | 10,000 |   |
|    Reclamation Bond Deposit – Fraser River                                                                                                          |   |                      | 2,000       |   |        |   | -        |        |   |   | 2,000 |   |
|    Total Other Assets                                                                                                                                     |   |                      | 2,901,469   |   |        |   | (206,550 | )           |   |   | 2,694,919 |   |
| TOTAL ASSETS                                                                                                                                                             |   | $                         | 3,020,203   |   |        | $      | (206,550 | )           |   | $ | 2,813,653 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
| LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                   |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Liabilities                                                                                                                                            |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Current Liabilities                                                                                                                                    |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Accounts Payable                                                                                                                                       |   | $                         | 30,976      |   |        |   | -        |        |   | $ | 30,976 |   |
|    Accrued Expenses - related party                                                                                                                       |   |                      | 812,474     |   |        |   | -        |        |   |   | 812,474 |   |
|    Accrued Interest                                                                                                                                       |   |                      | 3,348       |   |        |   | -        |        |   |   | 3,348 |   |
|    Convertible notes payable (net of discount of $146,198)                                                                                                |   |                      | 53,802      |   |        |   | -        |        |   |   | 53,802 |   |
|    Note Payable (net of discount of $4,069)                                                                                                               |   |                      | 5,931       |   |        |   | -        |        |   |   | 5,931 |   |
|    Note Payable – Ruby Mine Mortgage                                                                                                                |   |                      | 1,873,275   |   |        |   | -        |        |   |   | 1,873,275 |   |
|    Total Current Liabilities                                                                                                                              |   |                      | 2,779,806   |   |        |   | -        |        |   |   | 2,779,806 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Long-Term Liabilities                                                                                                                                  |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Asset Retirement Obligation                                                                                                                            |   |                      | 5,198       |   |        |   | -        |        |   |   | 5,198 |   |
|    Total Long-Term Liabilities                                                                                                                            |   |                      | 5,198       |   |        |   | -        |        |   |   | 5,198 |   |
|    Total Liabilities                                                                                                                                      |   | $                         | 2,785,004   |   |        |   | -        |        |   | $ | 2,785,004 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
| Commitment & Contingencies                                                                                                                                           |   |                      |        |   |        |   |     |        |   |   |   |   |
| Common shares subject to redemption, stated at estimated redemption value, 1,914,491and 880,982 shares outstanding at March 31, 2012 and December 31, 2011, respectively |   |                      | -           |   |        |   | 189,904  |        |   |   | 189,904 |   |
| Total Commitment & Contingencies                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Stockholders’ Equity (Deficit)                                                                                                                   |   |                      |        |   |        |   |     |        |   |   |   |   |
| Preferred stock, Series I, $0.001 par value, 100 shares authorized, 100 shares issued and outstanding at March 31, 2012                                                  |   |                      | -           |   |        |   | -        |        |   |   |   |   |
| Convertible Preferred stock, Series A, $0.001 par value, 8,000,000 shares authorized, 4,000,000 shares issued and outstanding at March 31, 2012                          |   |                      | 4,000       |   |        |   | -        |        |   |   | 4,000 |   |
| Convertible Preferred stock, Series G, $0.001 par value, 1,500,000 shares authorized, 100,000 shares issued and outstanding at March 31, 2012                            |   |                      | 100         |   |        |   | -        |        |   |   | 100 |   |
| Common stock, $0.001 par value, 250,000,000 shares authorized, 96,810,130 shares issued and outstanding at March 31, 2012                                                |   |                      | 98,725      |   |        |   | (1,915   | )           |   |   | 96,810 |   |
| Additional Paid-In Capital                                                                                                                                               |   |                      | 11,796,219  |   |        |   | (187,989 | )           |   |   | 11,608,230 |   |
| Stock Payable                                                                                                                                                            |   |                      | 25,000      |   |        |   | -        |        |   |   | 25,000 |   |
| Deficit Accumulated During Exploration Stage                                                                                                                             |   |                      | (11,688,845 | )      |        |   | (206,550 | )           |   |   | (11,895,395 | ) |
|    Total Stockholders’ Equity (Deficit)                                                                                                             |   |                      | 235,199     |   |        |   | (396,454 | )           |   |   | (161,255 | ) |
| TOTAL LIABILITIES, COMMITMENTS & CONTINGENCIES, & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                           |   | $                         | 3,020,203   |   |        |   | (206,550 | )           |   | $ | 2,813,653 |   |

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Table of Contents

|                                                                               |   | 3 months ended March 31, 2012(as reported) |       |   | Adjustments |   |     | As Restated |   |
|------------------------------------------------------------------------------------|--------|--------------------------------------------|------------|--------|-------------|--------|----------|-------------|--------|
|    Revenues                                                         |   |                                       |       |   |        |   |     |        |   |
|    Retail Sales (revenue prior to change to mining company in 2006) |   | $                                          | -          |   |        |   | -        |        |   | $ | - |   |
|    Cost of Revenue                                                  |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Gross Loss                                                       |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|                                                                               |   |                                       |       |   |        |   |     |        |   |   |   |   |
|    Operating Expenses                                               |   |                                       |       |   |        |   |     |        |   |   |   |   |
|    Commissions & Consulting Fees                                |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    General & Administrative Costs                               |   |                                       | 93,585     |   |        |   | -        |        |   |   | 93,585 |   |
|    Mining Property Costs                                            |   |                                       | 55,846     |   |        |   | 112,269  |        |   |   | 168,115 |   |
|    Impairment Expense                                                    |   |                                       |  -    |   |        |   |  -  |        |   |   |  - |   |
|    Accretion Expense                                                |   |                                       |  -    |   |        |   |  -  |        |   |   |  - |   |
|     Depreciation Expense                                       |   |                                       | 26,185     |   |        |   | -        |        |   |   | 26,185 |   |
|    Professional Services                                            |   |                                       | 18,500     |   |        |   | -        |        |   |   | 18,500 |   |
|    Total Operating Expenses                                         |   |                                       | 194,116    |   |        |   | 112,269  |        |   |   | 306,385 |   |
|    Net Operating Loss                                               |   |                                       | (194,116   | )      |        |   | (112,269 | )           |   |   | (306,385 | ) |
|    Other Income (Expenses)                                          |   |                                       |       |   |        |   |     |        |   |   |   |   |
|    Gain on Mineral Claim Sales                                      |   |                                       | 4,500      |   |        |   | -        |        |   |   | 4,500 |   |
|    Gain on Joint-Ventures                                           |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Impairment Expense                                               |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Interest Income                                                  |   |                                       | 545        |   |        |   | -        |        |   |   | 545 |   |
|    Interest Expense                                                 |   |                                       | (62,739    | )      |        |   | -        |        |   |   | (62,739 | ) |
|    Loss on Conversion of Debt                                       |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Bad Debt Expense                                                 |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Accretion Expense                                                |   |                                       | (127       | )      |        |   | -        |        |   |   | (127 | ) |
|    Other Expense                                                    |   |                                       | (175,047   | )      |        |   | -        |        |   |   | (175,047 | ) |
|    Loss on Settlement                                               |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Realized Gain (Loss) on Investment                               |   |                                       | -          |   |        |   | -        |        |   |   | - |   |
|    Gain (Loss) on Derivative Liability                                   |   |                                       |  -    |   |        |   |  -  |        |   |   |  - |   |
|    Net Other Income (Expenses)                                      |   |                                       | (232,868   | )      |        |   | -        |        |   |   | (232,868 | ) |
| Net Loss                                                                           |   |                                       | (426,984   | )      |        |   | (112,269 | )           |   |   | (539,253 | ) |
|     Accretion of Discount on Redeemable Common Stock           |   |                                       | -          |   |        |   | (14,606  | )           |   |   | (14,606 | ) |
|     Interest on Redeemable Common Stock                        |   |                                       | -          |   |        |   | (2,525   | )           |   |   | (2,525 | ) |
| Net Loss Attributable to Common Shareholders                                       |   |                                       | (426,984   | )      |        |   | (129,400 | )           |   |   | (556,384 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Basic)                                  |   |                                       | 98,127,893 |   |        |   |     |        |   |   |   |   |
|  Basic Net Loss per Share                                                     |   | $                                          | (0.00      | )      |        |   |     |        |   | $ | (0.01 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Diluted)                                |   |                                       | 98,127,893 |   |        |   |     |        |   |   | 98,127,893 |   |
| Diluted Net Loss per Share                                                         |   | $                                          | (0.00      | )      |        |   |     |        |   | $ | (0.01 | ) |

----

Table of Contents

|                                                                                                                                                                     |   | Jun 30, 2012(as reported) |        |   | Adjustments |   |     | As Restated |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|-------------|--------|----------|-------------|--------|
| ASSETS                                                                                                                                                                   |   |                      |        |   |        |   |     |        |   |
|    Current Assets                                                                                                                                         |   |                      |        |   |        |   |     |        |   |
|    Cash                                                                                                                                                   |   | $                         | 110,388     |   |        |   | -        |        |   | $ | 110,388 |   |
|    Accounts Receivable                                                                                                                                    |   |                      | -           |   |        |   | -        |        |   |   | - |   |
|    Total Current Assets                                                                                                                                   |   |                      | 110,388     |   |        |   | -        |        |   |   | 110,388 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Other Assets                                                                                                                                           |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Certificates of Deposit                                                                                                                                |   |                      | 172,255     |   |        |   | -        |        |   |   | 172,255 |   |
|    Goodwill                                                                                                                                               |   |                      | 5,341       |   |        |   | -        |        |   |   | 5,341 |   |
|    Mining Claims - Unproved                                                                                                                               |   |                      | 2,110,387   |   |        |   | (312,898 | )           |   |   | 1,797,489 |   |
|    Property, Plant & Equipment, net of accumulated depreciation                                                                                       |   |                      | 681,515     |   |        |   | -        |        |   |   | 681,515 |   |
|    Purchase Option - Taber Mine                                                                                                                           |   |                      | 16,000      |   |        |   | -        |        |   |   | 16,000 |   |
|    Reclamation Bond Deposit – Fraser River                                                                                                          |   |                      | 2,000       |   |        |   | -        |        |   |   | 2,000 |   |
|    Total Other Assets                                                                                                                                     |   |                      | 2,987,498   |   |        |   | (312,898 | )           |   |   | 2,674,600 |   |
| TOTAL ASSETS                                                                                                                                                             |   | $                         | 3,097,886   |   |        | $      | (312,898 | )           |   | $ | 2,784,988 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
| LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                   |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Liabilities                                                                                                                                            |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Current Liabilities                                                                                                                                    |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Accounts Payable                                                                                                                                       |   | $                         | 44,638      |   |        |   | -        |        |   | $ | 44,638 |   |
|    Accrued Expenses - related party                                                                                                                       |   |                      | 828,474     |   |        |   | -        |        |   |   | 828,474 |   |
|    Accrued Interest                                                                                                                                       |   |                      | 10,823      |   |        |   | -        |        |   |   | 10,823 |   |
|    Convertible notes payable (net of discount of $213,201)                                                                                                |   |                      | 161,798     |   |        |   | -        |        |   |   | 161,798 |   |
|    Note Payable (net of discount of $0)                                                                                                                   |   |                      | -           |   |        |   | -        |        |   |   | - |   |
|    Note Payable – Ruby Mine Mortgage                                                                                                                |   |                      | 1,857,245   |   |        |   | -        |        |   |   | 1,857,245 |   |
|    Total Current Liabilities                                                                                                                              |   |                      | 2,902,978   |   |        |   | -        |        |   |   | 2,902,978 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Long-Term Liabilities                                                                                                                                  |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Asset Retirement Obligation                                                                                                                            |   |                      | 5,274       |   |        |   | -        |        |   |   | 5,274 |   |
|    Total Long-Term Liabilities                                                                                                                            |   |                      | 5,274       |   |        |   | -        |        |   |   | 5,274 |   |
|    Total Liabilities                                                                                                                                      |   | $                         | 2,908,252   |   |        |   | -        |        |   | $ | 2,908,252 |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
| Commitment & Contingencies                                                                                                                                           |   |                      |        |   |        |   |     |        |   |   |   |   |
| Common shares subject to redemption, stated at estimated redemption value, 2,817,774 and 880,982 shares outstanding at June 30, 2012 and December 31, 2011, respectively |   |                      | -           |   |        |   | 260,193  |        |   |   | 260,193 |   |
| Total Commitment & Contingencies                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|                                                                                                                                                                     |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Stockholders’ Equity (Deficit)                                                                                                                   |   |                      |        |   |        |   |     |        |   |   |   |   |
| Preferred stock, Series I, $0.001 par value, 100 shares authorized, 100 shares issued and outstanding at June 30, 2012                                                   |   |                      | -           |   |        |   | -        |        |   |   | - |   |
| Convertible Preferred stock, Series A, $0.001 par value, 8,000,000 shares authorized, 4,000,000 shares issued and outstanding at June 30, 2012                           |   |                      | 4,000       |   |        |   | -        |        |   |   | 4,000 |   |
| Convertible Preferred stock, Series G, $0.001 par value, 1,500,000 shares authorized, 100,000 shares issued and outstanding at June 30, 2012                             |   |                      | 100         |   |        |   | -        |        |   |   | 100 |   |
| Common stock, $0.001 par value, 250,000,000 shares authorized, 96,810,130 shares issued and outstanding at June 30, 2012                                                 |   |                      | 99,628      |   |        |   | (2,818   | )           |   |   | 96,810 |   |
| Additional Paid-In Capital                                                                                                                                               |   |                      | 11,999,318  |   |        |   | (257,375 | )           |   |   | 11,741,943 |   |
| Stock Payable                                                                                                                                                            |   |                      | 25,000      |   |        |   | -        |        |   |   | 25,000 |   |
| Deficit Accumulated During Exploration Stage                                                                                                                             |   |                      | (11,938,412 | )      |        |   | (312,898 | )           |   |   | (12,251,310 | ) |
|    Total Stockholders’ Equity (Deficit)                                                                                                             |   |                      | 189,634     |   |        |   | (573,091 | )           |   |   | (383,457 | ) |
| TOTAL LIABILITIES, COMMITMENTS & CONTINGENCIES, & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                           |   | $                         | 3,097,886   |   |        |   | (312,898 | )           |   | $ | 2,784,988 |   |

----

Table of Contents

|                                                             |   | 3 months ended June 30, 2012 |       |   | Adjustments |   |     | As Restated |   |   | 6 months ended June30, 2012 |   |   | Adjustments |       |   | As Restated |   |
|------------------------------------------------------------------|--------|------------------------------|------------|--------|-------------|--------|----------|-------------|--------|--------|-----------------------------|--------|--------|-------------|------------|--------|-------------|--------|
| Revenues                                                         |   |                         |       |   |        |   |     |        |   |   |                        |   |   |        |       |   |        |   |
| Retail Sales (revenue prior to change to mining company in 2006) |   | $                            | -          |   |        |   | -        |        |   | $      | -                           |   |   | $           | -          |   |        |   | - |   |   | $ | - |   |
| Cost of Revenue                                                  |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Gross Loss                                     |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|                                                             |   |                         |       |   |        |   |     |        |   |   |                        |   |   |        |       |   |        |   |   |   |   |   |   |   |
|    Operating Expenses                             |   |                         |       |   |        |   |     |        |   |   |                        |   |   |        |       |   |        |   |   |   |   |   |   |   |
|    Commissions & Consulting Fees              |   |                         | 6,000      |   |        |   | -        |        |   |   | 6,000                       |   |   |        | 6,000      |   |        |   | - |   |   |   | 6,000 |   |
|    General & Administrative Costs             |   |                         | 72,701     |   |        |   | -        |        |   |   | 72,701                      |   |   |        | 166,286    |   |        |   | - |   |   |   | 166,286 |   |
|    Mining Property Costs                          |   |                         | 32,687     |   |        |   | 106,349  |        |   |   | 139,036                     |   |   |        | 88,533     |   |        |   | 218,617 |   |   |   | 307,150 |   |
|    Impairment Expense                                  |   |                         |  -    |   |        |   |  -  |        |   |   |  -                     |   |   |        |  -    |   |        |   |  - |   |   |   |  - |   |
|    Accretion Expense                                   |   |                         | -          |   |        |   |  -  |        |   |   |  -                     |   |   |        |  -    |   |        |   |  - |   |   |   | - |   |
|    Depreciation Expense                           |   |                         | 26,185     |   |        |   | -        |        |   |   | 26,185                      |   |   |        | 52,370     |   |        |   | - |   |   |   | 52,370 |   |
|    Professional Services                          |   |                         | 6,750      |   |        |   | -        |        |   |   | 6,750                       |   |   |        | 25,250     |   |        |   | - |   |   |   | 25,250 |   |
|    Total Operating Expenses                       |   |                         | 144,323    |   |        |   | 106,349  |        |   |   | 250,672                     |   |   |        | 338,439    |   |        |   | 218,617 |   |   |   | 557,056 |   |
| Net Operating Loss                                               |   |                         | (144,323   | )      |        |   | (106,349 | )           |   |   | (250,672                    | )      |   |        | (338,439   | )      |        |   | (218,617 | ) |   |   | (557,056 | ) |
| Other Income (Expenses)                                          |   |                         |       |   |        |   |     |        |   |   |                        |   |   |        |       |   |        |   |   |   |   |   |   |   |
|    Gain on Mineral Claim Sales                    |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | 4,500      |   |        |   | - |   |   |   | 4,500 |   |
|    Gain on Joint-Ventures                         |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Impairment Expense                             |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Interest Income                                |   |                         | (120       | )      |        |   | -        |        |   |   | (120                        | )      |   |        | 425        |   |        |   | - |   |   |   | 425 |   |
|    Interest Expense                               |   |                         | (105,048   | )      |        |   | -        |        |   |   | (105,048                    | )      |   |        | (167,787   | )      |        |   | - |   |   |   | (167,787 | ) |
|    Loss on Conversion of Debt                     |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Bad Debt Expense                               |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Accretion Expense                              |   |                         | (76        | )      |        |   | -        |        |   |   | (76                         | )      |   |        | (203       | )      |        |   | - |   |   |   | (203 | ) |
|    Other Expense                                  |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | (175,047   | )      |        |   | - |   |   |   | (175,047 | ) |
|    Loss on Settlement                             |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Realized Gain (Loss) on Investment             |   |                         | -          |   |        |   | -        |        |   |   | -                           |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|    Gain (Loss) on Derivative Liability                 |   |                         |  -    |   |        |   |  -  |        |   |   |  -                     |   |   |        |  -    |   |        |   |  - |   |   |   |  - |   |
| Net Other Income (Expenses)                                      |   |                         | (105,244   | )      |        |   | -        |        |   |   | (105,244                    | )      |   |        | (338,112   | )      |        |   | - |   |   |   | (338,112 | ) |
| Net Loss                                                         |   |                         | (249,567   | )      |        |   | (106,349 | )           |   |   | (355,916                    | )      |   |        | (676,551   | )      |        |   | (218,617 | ) |   |   | (895,168 | ) |
| Accretion of Discount on Redeemable Common Stock                 |   |                         | -          |   |        |   | (6,836   | )           |   |   | (6,836                      | )      |   |        | -          |   |        |   | (21,442 | ) |   |   | (21,442 | ) |
| Interest on Redeemable Common Stock                              |   |                         | -          |   |        |   | (5,453   | )           |   |   | (5,453                      | )      |   |        | -          |   |        |   | (7,978 | ) |   |   | (7,978 | ) |
| Net Loss Attributable to Common Shareholders                     |   |                         | (249,567   | )      |        |   | (118,638 | )           |   |   | (368,205                    | )      |   |        | (676,551   | )      |        |   | (248,037 | ) |   |   | (924,588 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Basic)                |   |                         | 99,296,795 |   |        |   | -        |        |   |   | 99,296,795                  |   |   |        | 98,712,344 |   |        |   | - |   |   |   | 98,712,344 |   |
|  Basic Net Loss per Share                                   |   | $                            | (0.00      | )      |        |   | -        |        |   | $      | (0.00                       | )      |   | $           | (0.01      | )      |        |   | - |   |   | $ | (0.01 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Diluted)              |   |                         | 99,296,795 |   |        |   | -        |        |   |   | 99,296,795                  |   |   |        | 98,712,344 |   |        |   | - |   |   |   | 98,712,344 |   |
| Diluted Net Loss per Share                                       |   | $                            | (0.00      | )      |        |   | -        |        |   | $      | (0.00                       | )      |   | $           | (0.01      | )      |        |   | - |   |   | $ | (0.01 | ) |

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|                                                                                                                                                                          |   | Sep 30, 2012(as reported) |        |   | Adjustments |   |     | As Restated |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|-------------|--------|----------|-------------|--------|
| ASSETS                                                                                                                                                                        |   |                      |        |   |        |   |     |        |   |
| Current Assets                                                                                                                                                                |   |                      |        |   |        |   |     |        |   |
|    Cash                                                                                                                                                        |   | $                         | 70,726      |   |        |   | -        |        |   | $ | 70,726 |   |
|    Accounts Receivable                                                                                                                                         |   |                      | -           |   |        |   | -        |        |   |   | - |   |
| Total Current Assets                                                                                                                                                          |   |                      | 70,726      |   |        |   | -        |        |   |   | 70,726 |   |
|                                                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
| Other Assets                                                                                                                                                                  |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Certificates of Deposit                                                                                                                                     |   |                      | 172,378     |   |        |   | -        |        |   |   | 172,378 |   |
|    Deferred Financing Costs, net                                                                                                                               |   |                      | 21,131      |   |        |   | -        |        |   |   | 21,131 |   |
|    Goodwill                                                                                                                                                    |   |                      | 5,341       |   |        |   | -        |        |   |   | 5,341 |   |
|    Mining Claims - Unproved                                                                                                                                    |   |                      | 2,187,207   |   |        |   | (389,718 | )           |   |   | 1,797,489 |   |
|    Property, Plant & Equipment, net of accumulated depreciation                                                                                            |   |                      | 660,083     |   |        |   | -        |        |   |   | 660,083 |   |
|    Purchase Option - Taber Mine                                                                                                                                |   |                      | 22,000      |   |        |   | -        |        |   |   | 22,000 |   |
|    Reclamation Bond Deposit – Fraser River                                                                                                               |   |                      | 2,000       |   |        |   | -        |        |   |   | 2,000 |   |
| Total Other Assets                                                                                                                                                            |   |                      | 3,070,140   |   |        |   | (389,718 | )           |   |   | 2,680,422 |   |
| TOTAL ASSETS                                                                                                                                                                  |   | $                         | 3,140,866   |   |        |   | (389,718 | )           |   | $ | 2,751,148 |   |
|                                                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
| LIABILITIES & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                                                        |   |                      |        |   |        |   |     |        |   |   |   |   |
| Liabilities                                                                                                                                                                   |   |                      |        |   |        |   |     |        |   |   |   |   |
| Current Liabilities                                                                                                                                                           |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Accounts Payable                                                                                                                                            |   | $                         | 31,165      |   |        |   | -        |        |   | $ | 31,165 |   |
|    Accrued Expenses - related party                                                                                                                            |   |                      | 850,474     |   |        |   | -        |        |   |   | 850,474 |   |
|    Accrued Interest                                                                                                                                            |   |                      | 18,513      |   |        |   | -        |        |   |   | 18,513 |   |
|    Convertible notes payable (net of discount of $240,325)                                                                                                     |   |                      | 357,675     |   |        |   | -        |        |   |   | 357,675 |   |
|    Note Payable (net of discount of $0)                                                                                                                        |   |                      | -           |   |        |   | -        |        |   |   | - |   |
|    Derivative Liability                                                                                                                                        |   |                      | 585,498     |   |        |   | -        |        |   |   | 585,498 |   |
|    Note Payable – Ruby Mine Mortgage                                                                                                                     |   |                      | 1,841,095   |   |        |   | -        |        |   |   | 1,841,095 |   |
| Total Current Liabilities                                                                                                                                                     |   |                      | 3,684,420   |   |        |   | -        |        |   |   | 3,684,420 |   |
|                                                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
| Long-Term Liabilities                                                                                                                                                         |   |                      |        |   |        |   |     |        |   |   |   |   |
|    Asset Retirement Obligation                                                                                                                                 |   |                      | 5,350       |   |        |   | -        |        |   |   | 5,350 |   |
| Total Long-Term Liabilities                                                                                                                                                   |   |                      | 5,350       |   |        |   | -        |        |   |   | 5,350 |   |
| Total Liabilities                                                                                                                                                             |   | $                         | 3,689,770   |   |        |   | -        |        |   | $ | 3,689,770 |   |
|                                                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
| Commitment & Contingencies                                                                                                                                                |   |                      |        |   |        |   |     |        |   |   |   |   |
| Common shares subject to redemption, stated at estimated redemption value, 3,602,492 and 880,982 shares outstanding at September 30, 2012 and December 31, 2011, respectively |   |                      | -           |   |        |   | 314,757  |        |   |   | 314,757 |   |
| Total Commitment & Contingencies                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
|                                                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
| Stockholders’ Equity (Deficit)                                                                                                                                          |   |                      |        |   |        |   |     |        |   |   |   |   |
| Preferred stock, Series I, $0.001 par value, 100 shares authorized, 100 shares issued and outstanding at September 30, 2012                                                   |   |                      | -           |   |        |   |     |        |   |   | - |   |
| Convertible Preferred stock, Series A, $0.001 par value, 8,000,000 shares authorized, 4,000,000 shares issued and outstanding at September 30, 2012                           |   |                      | 4,000       |   |        |   | -        |        |   |   | 4,000 |   |
| Convertible Preferred stock, Series G, $0.001 par value, 0 and 1,500,000 shares authorized, 0 issued and outstanding at September 30, 2012                                    |   |                      | -           |   |        |   | -        |        |   |   | - |   |
| Common stock, $0.001 par value, 250,000,000 shares authorized, 96,895,130 shares issued and outstanding at September 30, 2012                                                 |   |                      | 100,498     |   |        |   | (3,603   | )           |   |   | 96,895 |   |
| Additional Paid-In Capital                                                                                                                                                    |   |                      | 12,047,659  |   |        |   | (311,154 | )           |   |   | 11,736,505 |   |
| Stock Payable                                                                                                                                                                 |   |                      | 25,000      |   |        |   | -        |        |   |   | 25,000 |   |
| Deficit Accumulated During Exploration Stage                                                                                                                                  |   |                      | (12,726,061 | )      |        |   | (389,718 | )           |   |   | (13,115,779 |   |
| Total Stockholders’ Equity (Deficit)                                                                                                                                    |   |                      | (548,904    | )      |        |   | (704,475 | )           |   |   | (1,253,379 | ) |
| TOTAL LIABILITIES, COMMITMENTS & CONTINGENCIES, & STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                |   | $                         | 3,140,866   |   |        |   | (389,718 | )           |   | $ | 2,751,148 |   |

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|                                                                               |   | 3 months endedSept 30, 2012 (as reported) |        |   | Adjustments |   |    | As Restated |   |   | 9 months endedSept 30, 2012(as reported) |   |   | Adjustments |       |   | As Restated |   |
|------------------------------------------------------------------------------------|--------|-------------------------------------------|-------------|--------|-------------|--------|---------|-------------|--------|--------|------------------------------------------|--------|--------|-------------|------------|--------|-------------|--------|
| Revenues                                                                           |   |                                      |        |   |        |   |    |        |   |   |                                     |   |   |        |       |   |        |   |
| Retail Sales (revenue prior to change to mining company in 2006)                   |   | $                                         | -           |   |        | $      | -       |        |   | $      | -                                        |   |   | $           | -          |   |        | $      | - |   |   | $ | - |   |
| Cost of Revenue                                                                    |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | -          |   |        |   | - |   |   |   | - |   |
| Gross Loss                                                                         |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|                                                                               |   |                                      |        |   |        |   |    |        |   |   |                                     |   |   |        |       |   |        |   |   |   |   |   |   |   |
| Operating Expenses                                                                 |   |                                      |        |   |        |   |    |        |   |   |                                     |   |   |        |       |   |        |   |   |   |   |   |   |   |
| Commissions & Consulting Fees                                                  |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | 6,000      |   |        |   | - |   |   |   | 6,000 |   |
| General & Administrative Costs                                                 |   |                                      | 85,640      |   |        |   | -       |        |   |   | 85,640                                   |   |   |        | 251,926    |   |        |   | - |   |   |   | 251,926 |   |
| Mining Property Costs                                                              |   |                                      | 63,326      |   |        |   | 76,820  |        |   |   | 140,146                                  |   |   |        | 151,859    |   |        |   | 295,437 |   |   |   | 447,296 |   |
| Impairment Expense                                                                 |   |                                      |  -     |   |        |   |  - |        |   |   |  -                                  |   |   |        |  -    |   |        |   |  - |   |   |   |  - |   |
|           Accretion Expense      |   |                                      |  -     |   |        |   |  - |        |   |   |  -                                  |   |   |        |  -    |   |        |   | - |   |   |   |  - |   |
| Depreciation Expense                                                               |   |                                      | 21,432      |   |        |   | -       |        |   |   | 21,432                                   |   |   |        | 73,802     |   |        |   | - |   |   |   | 73,802 |   |
| Professional Services                                                              |   |                                      | 10,922      |   |        |   | -       |        |   |   | 10,922                                   |   |   |        | 36,172     |   |        |   | - |   |   |   | 36,172 |   |
| Total Operating Expenses                                                           |   |                                      | 181,320     |   |        |   | 76,820  |        |   |   | 258,140                                  |   |   |        | 519,759    |   |        |   | 295,437 |   |   |   | 815,196 |   |
| Net Operating Loss                                                                 |   |                                      | (181,320    | )      |        |   | (76,820 | )           |   |   | (258,140                                 | )      |   |        | (519,759   | )      |        |   | (295,437 | ) |   |   | (815,196 | )  |
| Other Income (Expenses)                                                            |   |                                      |        |   |        |   |    |        |   |   |                                     |   |   |        |       |   |        |   |   |   |   |   |   |   |
| Gain on Mineral Claim Sales                                                        |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | 4,500      |   |        |   | - |   |   |   | 4,500 |   |
| Gain on Joint-Ventures                                                             |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | -          |   |        |   | - |   |   |   | - |   |
| Impairment Expense                                                                 |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | -          |   |        |   | - |   |   |   | - |   |
| Interest Income                                                                    |   |                                      | 159         |   |        |   | -       |        |   |   | 159                                      |   |   |        | 584        |   |        |   | - |   |   |   | 584 |   |
| Interest Expense                                                                   |   |                                      | (155,881    | )      |        |   | -       |        |   |   | (155,881                                 | )      |   |        | (323,668   | )      |        |   | - |   |   |   | (323,668 | )  |
| Loss on Conversion of Debt                                                         |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | -          |   |        |   | - |   |   |   | - |   |
| Bad Debt Expense                                                                   |   |                                      | 982         |   |        |   | -       |        |   |   | 982                                      |   |   |        | 982        |   |        |   | - |   |   |   | 982 |   |
| Accretion Expense                                                                  |   |                                      | (76         | )      |        |   | -       |        |   |   | (76                                      | )      |   |        | (279       | )      |        |   | - |   |   |   | (279 | ) |
| Other Expense                                                                      |   |                                      | (2,222      | )      |        |   | -       |        |   |   | (2,222                                   | )      |   |        | (177,269   | )      |        |   | - |   |   |   | (177,269 | ) |
| Loss on Settlement                                                                 |   |                                      | -           |   |        |   | -       |        |   |   | -                                        |   |   |        | -          |   |        |   | - |   |   |   | - |   |
|         Realized Gain (Loss) on Investment |   |                                      |  -     |   |        |   |  - |        |   |   |  -                                  |   |   |        |  -    |   |        |   |  - |   |   |   |  - |   |
| Gain (Loss) on Derivative Liability                                                |   |                                      | (449,291    | )      |        |   | -       |        |   |   | (449,291                                 | )      |   |        | (449,291   | )      |        |   | - |   |   |   | (449,291 | ) |
| Net Other Income (Expenses)                                                        |   |                                      | (606,329    | )      |        |   | -       |        |   |   | (606,329                                 | )      |   |        | (944,441   | )      |        |   | - |   |   |   | (944,441 | )  |
| Net Loss                                                                           |   |                                      | (787,649    | )      |        |   | (76,820 | )           |   |   | (864,469                                 | )      |   |        | (1,464,200 | )      |        |   | (295,437 | )  |   |   | (1,759,637 | )  |
| Accretion of Discount on Redeemable Common Stock                              |   |                                      | -           |   |        |   | (4,157  | )           |   |   | (4,157                                   | )      |   |        | -          |   |        |   | (25,599 | ) |   |   | (25,599 | ) |
| Interest on Redeemable Common Stock                                                |   |                                      | -           |   |        |   | (6,907  | )           |   |   | (6,907                                   | )      |   |        | -          |   |        |   | (14,885 | ) |   |   | (14,885 | ) |
| Net Loss Attributable to Common Shareholders                                       |   |                                      | (787,649    | )      |        |   | (87,884 | )           |   |   | (875,533                                 | )      |   |        | (1,464,200 | )      |        |   | (284,723 | ) |   |   | (1,800,121 | ) |
|                                                                               |   |                                      |        |   |        |   |    |        |   |   |                                     |   |   |        |       |   |        |   |   |   |   |   |   |   |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Basic)                                  |   |                                      | 100,200,957 |   |        |   | -       |        |   |   | 100,200,957                              |   |   |        | 99,212,170 |   |        |   | - |   |   |   | 99,212,170 |   |
|  Basic Net Loss per Share                                                     |   | $                                         | (0.01       | )      |        |   |    |        |   | $      | (0.01                                    | )      |   | $           | (0.01      | )      |        |   |   |   |   | $ | (0.02 | ) |
| WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (Diluted)                                |   |                                      | 100,200,957 |   |        |   | -       |        |   |   | 95,880,831                               |   |   |        | 99,212,170 |   |        |   | - |   |   |   | 89,719,476 |   |
| Diluted Net Loss per Share                                                         |   | $                                         | (0.01       | )      |        |   | -       |        |   | $      | (0.01                                    | )      |   | $           | (0.01      | )      |        |   | - |   |   | $ | (0.02 | )  |

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Item 

Item 

| ·   | Controls lack appropriate segregation of responsibilities and accounting technical expertise necessary for an effective system of internal control. We believe that our lack of technical expertise and lack of segregation of duties over internal controls constitutes a material weakness in our internal controls.  |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Our closing process is a material weakness as we are unable to assure GAAP compliant financial statements without auditor assistance. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------|

| ·   | As of December 31 2012, we did not maintain effective controls over financial statement disclosure. Specifically, controls were not designed and in place to ensure that all disclosures required were originally addressed in our consolidated financial statements. Accordingly, management has determined that this control deficiency constitutes a material weakness.  |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Item 

| Name          |   | Age       |   | Position with the Company            |
|---------------|--------|-----------|--------|--------------------------------------|
| Perry Leopold |   |   62 |   | Chairman and Chief Executive Officer |
| Fred Michini  |   |   70 |   | Director                             |

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Item 

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|   Date                 |   | Type of Stock         |   | Number of Shares |       |   | Value  |   |
|----------------------------------|--------|-----------------------|--------|-----------------------|------------|--------|--------|--------|
|   2/12/2007            |   | Preferred (I)         |   |                  | 100        |   |   | $      | 101,000 |   |
|     2/9/2007 |   | Common                |   |                  | 250,000    |   |   | $      | 31,250 |   |
| 12/21/2007                       |   | Common                |   |                  | 10,000,000 |   |   | $      | 900,000 |   |
| 12/16/2008                       |   | Common                |   |                  | 2,500,000  |   |   | $      | 50,000 |   |
| 8/11/2009                        |   | Preferred (A) (G) (1) |   |                  | 4,100,000  |   |   | $      | 253,785 |   |

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| Name and Position       |   | Year |   | Salary ($) (2) |    |   |   Bonus ($) |   |   | Stock Awards ($) (1) |   |   | All OtherCompensation ($)(3) |   |   | Total ($) |   |
|-------------------------|--------|------|--------|----------------|---------|--------|------------------|--------|--------|----------------------|--------|--------|------------------------------|--------|--------|-----------|--------|
| Perry Leopold           |   | 2012 |   | $              | 180,000 |   |             | $      | 0      |                 |   | $      | 0                            |   |   | $         | 36,000 |   |   | $ | 216,000 |   |
| Chief Executive Officer |   | 2011 |   | $              | 180,000 |   |             | $      | 0      |                 |   | $      | 0                            |   |   | $         | 36,000 |   |   | $ | 216,000 |   |
|                    |   | 2010 |   | $              | 180,000 |   |             | $      | 0      |                 |   | $      | 0                            |   |   | $         | 36,000 |   |   | $ | 216,000 |   |
|                    |   | 2009 |   | $              | 180,000 |   |             | $      | 0      |                 |   | $      | 253,785                      |   |   | $         | 36,000 |   |   | $ | 469,785 |   |
|                    |   | 2008 |   | $              | 180,000 |   |             | $      | 0      |                 |   | $      | 50,000                       |   |   | $         | 36,000 |   |   | $ | 266,000 |   |
|                    |   | 2007 |   | $              | 180,000 |   |             | $      | 0      |                 |   | $      | 1,032,250                    |   |   | $         | 36,000 |   |   | $ | 1,248,250 |   |
|                    |   | 2006 |   | $              | 120,000 |   |             | $      | 0      |                 |   | $      | 1,222,500                    |   |   | $         | 96,000 |   |   | $ | 1,438,500 |   |

| (1) | The values shown in this column represent the dollar amount recognized for financial statement reporting purposes with respect to the 2012, 2011, 2010, 2009, 2008, 2007 and 2006 fiscal years for the aggregate grant date fair value of stock awards granted in such periods in accordance with FASB ASC Topic 718. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The base salary for Mr. Leopold is included in the management agreement with The PAN Network of $18,000 per month, all of which accrues to deferred compensation in the event it is unpaid when due each month.                                                                                                       |
| (3) | “All Other Compensation” includes additional consideration due to the management contract with The PAN Network, which is wholly-owned by Mr. Leopold.  This agreement is for $18,000 per month, which includes Mr. Leopold’s base salary of $15,000 per month.                            |

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| Name                                 |   | Grant Date |   | All OtherStock Awards(# ofShares) (1) |   |   | ClosingMarket PriceofAwards on theDate of Grant |   |   | Grant DateFair Value ofStock Awards($) |   |
|--------------------------------------|--------|------------|--------|---------------------------------------|--------|--------|-------------------------------------------------|--------|--------|----------------------------------------|--------|
| Perry Leopold                        |   | -          |   |                                  | 0      |   |                                            | $      | -      |                                   |   | $ | 0 |   |
| Chairman and Chief Executive Officer |   |       |   |                                  |   |   |                                            |   |   |                                   |   |   |   |   |

|          |   |   |   | Option awards                                                      |   | Stock Awards                                                         |   |
|---------------|--------|--------|--------|--------------------------------------------------------------------|--------|----------------------------------------------------------------------|--------|
| Name          |   |   |   | Number of securities underlying unexercised options(#) exercisable |   | Number of securities underlying unexercised options(#) unexercisable |   | Option exerciseprice ($) |   | Optionexpiration date |   | Number of Shares of stock that have not vested (#) |   | Market Value of Shares of stock that have not vested ($) |   |
| Perry Leopold |   |   | 2012   |                                                               | 0      |                                                                 |   | 0 |   | 0.00 |   |   | 12/31/12 |   | 0 |   |   | 0 |   |

| Name          |   | Fees Earnedor Paid inCash($) |   |   | StockAwards($) |   |   | OptionAwards($) |   |   | Non-EquityIncentive PlanCompensation($) |   |   | NonqualifiedDeferredCompensationEarnings($) |   |   | All OtherCompensation($) |   |   | Total($) |   |
|---------------|--------|------------------------------|--------|--------|----------------|--------|--------|-----------------|--------|--------|-----------------------------------------|--------|--------|---------------------------------------------|--------|--------|--------------------------|--------|--------|----------|--------|
| (a)           |   | (b)                          |   |   | (c)            |   |   | (d)             |   |   | (e)                                     |   |   | (f)                                         |   |   | (g)                      |   |   | (h)      |   |
| Perry Leopold |   | $                            | --     |   |           | $      | --     |            |   | $      | --                                      |   |   | $                                           | --     |   |                     | $      | --     |     |   | $ | -- |   |   | $ | -- |   |
| Fred Michini  |   | $                            | --     |   |           | $      | -      |            |   | $      | --                                      |   |   | $                                           | --     |   |                     | $      | --     |     |   | $ | -- |   |   | $ | - |   |

| (1) | Mr. Leopold did not receive any compensation in his capacity as director for the Company in the year ended December 31, 2012. |
|-----|------------------------------------------------------------------------------------------------------------------------------------|

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| Title Of Class |   | Name And Address Of Beneficial Owner (1)                    |   | Amount And NatureOf BeneficialOwnership (2) |             | ApproximateOwnershipPercent ofClass (%)** |      |    | TotalVotingPercent ofClass (%)** |      |    |
|--------------------------|--------|-------------------------------------------------------------|--------|--------------------------------------------------|------------------|------------------------------------------------|-----------|---------|---------------------------------------|-----------|---------|
|                     |   |                                                        |   |                                             |             |                                           |      |    |                                  |      |    |
| Common                   |   | Perry Leopold(4)(5)                                         |   |                                             | 15,044,362       |                                           | 14.75     | %       |                                  | 80.00     | %       | (5) |
| Common                   |   | Fred Michini                                                |   |                                             | 1,162,112        |                                           | 1.14      | %       |                                  | 0.23      | %       |   |
| Common                   |   | Tangiers (3)                                                |   |                                             | 9,460,320        |                                           | 9.27      |  % |                                  | 1.85      | %       |   |
| Common                   |   | Ruby Development Company(6)                                 |   |                                             |  24,000,000 |                                           | 23.53     | %  |                                  | 4.71      | %  |   |
| Common                   |   | All executive officers and directors as a group (2 persons) |   |                                             | 16,206,474       |                                           | 15.89     | %       |                                  | 80.23     | %       |   |
| Series A Preferred       |   | Perry Leopold(4)                                       |   |                                             |  4,000,000  |                                           |  100 | %  |                                  |  100 | %  |   |
| Series I Preferred       |   | Perry Leopold(5)                                            |   |                                             | 100              |                                           | 100       | %       | (5)                                   | 100       | %       | (5) |

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| (1) | Except as noted above, the address for the above identified officers and directors of the Company is c/o North Bay Resources Inc., 2120 Bethel Road, Lansdale, PA 19446. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Beneficial Ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock subject to options, warrants, or convertible debt currently exercisable or convertible, or exercisable or convertible within 60 days of December 31, 2012 are deemed outstanding for computing the percentage of the person holding such option or warrant. Percentages are based on a total of 102,002,731 shares of common stock outstanding on December 31, 2012 and shares issuable upon the exercise of options, warrants exercisable, and debt convertible on or within 60 days of December 31, 2011, as described above. The inclusion in the aforementioned table of those shares, however, does not constitute an admission that the named shareholder is a direct or indirect beneficial owner of those shares. Unless otherwise indicated, to our knowledge based upon information produced by the persons and entities named in the table, each person or entity named in the table has sole voting power and investment power, or shares voting and/or investment power with his or her spouse, with respect to all shares of capital stock listed as owned by that person or entity. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)  | Tangiers is the investor under the Securities Purchase Agreement, and currently owns 4,410,320 shares of common stock. All investment decisions of, and control of, Tangiers, LP are held by Robert Papiri and Michael Sobeck, its managing partners. Tangiers Capital, LLC makes the investment decisions on behalf of and controls Tangiers, LP. Tangiers acquired all shares being registered in this offering in a financing transaction with us.  As of December 31, 2012, Tangiers also holds an aggregate of 5,050,000 warrants, as follows:  (a) 2.5 million 5 year warrants convertible to common stock and exercisable at $0.05 pursuant to a $50,000 Convertible Promissory Note Agreement dated September 27, 2010, (b) 250,000 5 year warrants convertible to common stock and exercisable at $0.115 pursuant to a $50,000 Convertible Promissory Note Agreement dated December 29, 2011, (c) 500,000 5 year warrants convertible to common stock and exercisable at $0.13 pursuant to two $50,000 Convertible Promissory Note Agreements dated February 2, 2012, (d) 500,000 5 year warrants convertible to common stock and exercisable at $0.09 pursuant to two $37,500 Convertible Promissory Note Agreements dated March 15, 2012, (e) 150,000 5 year warrants convertible to common stock and exercisable at $0.07 pursuant to a $50,000 Convertible Promissory Note Agreement dated May 16, 2012, (f) 150,000 5 year warrants convertible to common stock and exercisable at $0.06 pursuant to a $25,000 Convertible Promissory Note Agreement dated May 30, 2012, and (g) 750,000 5 year warrants convertible to common stock and exercisable at $0.14 and 750,000 5 year warrants convertible to common stock and exercisable at $0.07 pursuant to a $100,000 Convertible Promissory Note Agreement dated June 19, 2012. The number of shares, the percentage of ownership and voting percentage listed in the table above include the shares underlying the aforementioned warrants held by the shareholder.  |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4)  | Mr. Leopold, the Company’s CEO and Chairman owns 4,000,000 shares of the Company’s Series A Preferred Stock. Each outstanding share of the Series A Preferred Stock has 10 votes per share, and may be converted to shares of common at a ratio of 5 to 1. The Series A Preferred Stock was issued in August 2009.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| (5)  | Mr. Leopold owns 100 shares of the Company’s Series I Preferred Stock. Each outstanding share of the Series I Preferred Stock represents its proportionate share of eighty per cent (80%) of all votes entitled to be voted and which is allocated to the outstanding shares of Series I Preferred Stock. These shares are not convertible into common stock or any commodities. The Series I Preferred Stock was issued in February 2007. These shares were issued our Chief Executive Officer, Mr. Perry Leopold, in February 2007 as an anti-takeover measure to insure that Mr. Leopold maintains control of the Company during periods when the Company’s stock may be severely undervalued and subject to hostile takeover in the open market.  As specified in the Certificate of Designation filed by the Company with the Delaware Secretary of State in February 2007, ”the outstanding shares of Series I Preferred Stock shall vote together with the shares of Common Stock of the Corporation as a single class and, regardless of the number of shares of Series I Preferred Stock outstanding and as long as at least one of such shares of Series I Preferred Stock is outstanding, shall represent eighty percent (80%) of all votes entitled to be voted at any annual or special meeting of shareholders of the Corporation or action by written consent of shareholders.  Each outstanding share of the Series I Preferred Stock shall represent its proportionate share of the 80% that is allocated to the outstanding shares of Series I Preferred Stock. The Series I preferred shares supersede any other shares that Mr. Leopold may own so that any additional securities that Mr. Leopold may own do not increase his 80% voting rights, and are therefore included within the 80%.                                                                                                                                                                                                   |
| (6)       | The four (4) principals of Ruby Development Company (“RDC”), R.E. Frederking Trustee, W. R. Frederking, G. W. Frederking, and R. L. Frederking., each own 2.5 million shares of common stock.  Ruby Development Company is also entitled to 10 million warrants, immediately exercisable, and giving them the option to purchase up to 10 million shares of common stock at $0.02 per share until December 30, 2015, 2 million 5 year warrants convertible to common stock and exercisable at $0.10 per share until May 1, 2016, and 2 million 5-year warrants convertible to common stock and exercisable at $0.09 per share until March 6, 2017. The warrants may be exercised, in whole or in part, any time, and from time to time, at RDC's discretion. The number of shares, the percentage of ownership and voting percentage listed in the table above include the shares underlying the aforementioned warrants held by the shareholder.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

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SIGNATURES

|   |   |                     |   |                                                                                |   |   |
|--------|--------|--------------------------|--------|-------------------------------------------------------------------------------------|--------|--------|
|   |   | North Bay Resources Inc. |   |                                                                                |
|   |   |                     |   |                                                                                |   |   |
|   |   | By:                      |   | /s/ Perry Leopold                                                                   |   |   |
|   |   |                     |   | Perry Leopold                                                                       |   |   |
|   |   |                     |   | Chief Executive Officer, Chief Financial Officer & Principal Accounting Officer |   |   |
|   |   |                     |   |                                                                                |   |   |

|              |   |                                                                                                                          |
|-------------------|--------|-------------------------------------------------------------------------------------------------------------------------------|
| Signature         |   | Title                                                                                                                         |
|              |   |                                                                                                                          |
| /s/ Perry Leopold |   | President, Chief Executive Officer and Director                                                                               |
| Perry Leopold     |   | (Principal Executive Officer), Chief Financial Officer (Principal Accounting, Officer) and Chairman of the Board of Directors |
|              |   |                                                                                                                          |
| /s/ Fred Michini  |   |                                                                                                                          |
| Fred Michini      |   | Director                                                                                                                      |

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EXHIBIT 

| EXHIBIT NUMBER |   | DESCRIPTION                                                                 |
|----------------|--------|-----------------------------------------------------------------------------|
| 3 (i)          |   | Articles of Incorporation(1)                                                |
| 3(ii)          |   | Bylaws(1)                                                                   |
| 3 (iii)        |   | Merger and Name Change Certification(1)                                     |
| 4.1            |   | Certificate of Designation – Series I Preferred(2)                    |
| 4.2            |   | Certificate of Designation – Series A Preferred(2)                    |
| 4.3            |   | Certificate of Designation – Series G Preferred(2)                    |
| 4.4            |   | Certificate of Elimination – Series G Preferred(24)                   |
| 10.0           |   | Tangiers Securities Purchase Agreement dated October 7, 2009(1)             |
| 10.1           |   | Tangiers Securities Registration Rights Agreement dated October 6, 2009(1)  |
| 10.2           |   | Fawn Property/Silver Quest Resources Ltd. Joint Venture Agreement(1)        |
| 10.3           |   | Coronation Gold Property/Lincoln Resources, Inc. Joint Venture Agreement(1) |
| 10.4           |   | Silver Leaf/Hidalgo Mining International. Joint Venture Agreement(2)        |
| 10.5           |   | Gold Hill Project/Hidalgo Mining International Joint Venture Agreement(2)   |
| 10.6           |   | Monte Cristo Purchase Agreement(2)                                          |
| 10.7           |   | Fraser River Joint Venture Letter of Intent(2)                              |
| 10.8           |   | Fraser River Assay Certificate(2)                                           |
| 10.9           |   | Form of Notice of Assignment - June 2, 2009(2)                              |
| 10.10          |   | PAN Management Agreement(2)                                                 |
| 10.11          |   | ARGO - MINFILE No 092N 037(2)                                               |
| 10.12          |   | BOULEAU - MINFILE No 082LSW046(2)                                           |
| 10.13          |   | BOULEAU - MINFILE No 082LSW069(2)                                           |
| 10.14          |   | CHERRY - MINFILE No 082LSE063(2)                                            |
| 10.15          |   | CONNIE HILL - MINFILE No 092F 308(2)                                        |
| 10.16          |   | CORONATION - MINFILE No 082FNW161(2)                                        |
| 10.17          |   | CORONATION - MINFILE No 082FNW161 – Production(2)                     |
| 10.18          |   | CORONATION - MINFILE No 082FNW164(2)                                        |
| 10.19          |   | CORONATION - MINFILE No 082FNW164 – Production(2)                     |
| 10.20          |   | CORONATION - MINFILE No 082FNW191(2)                                        |
| 10.21          |   | CORONATION - MINFILE No 082FNW191 – Production(2)                     |
| 10.22          |   | CORONATION - MINFILE No 082FNW213(2)                                        |
| 10.23          |   | CORONATION - MINFILE No 082FNW213 – Production(2)                     |
| 10.24          |   | FAWN - MINFILE No 093F 043(2)                                               |
| 10.25          |   | FAWN - MINFILE No 093F 043 – Inventory(2)                             |
| 10.26          |   | FAWN - BUCK - MINFILE No 093F 050(2)                                        |
| 10.27          |   | FAWN - BUCK - MINFILE No 093F 050 - Inventory(2)                            |
| 10.28          |   | FRASER RIVER - MINFILE No 092ISW078(2)                                      |
| 10.29          |   | GOLD HILL - MINFILE No 082FSW204(2)                                         |
|  10.30    |   | GOLD HILL - MINFILE No 082FSW204 - Production(2)                            |
| 10.31          |   | LARDEAU CREEK - MINFILE No 082KNW178(2)                                     |
| 10.32          |   | LOUGHBOROUGH - MINFILE No 092K 048(2)                                       |
| 10.33          |   | LOUGHBOROUGH - MINFILE No 092K 048 - Production(2)                          |
| 10.34          |   | LYNX - MINFILE No 082LSE055(2)                                              |
| 10.35          |   | MONTE CRISTO - MINFILE No 092GNE013(2)                                      |
| 10.36          |   | MONTE CRISTO - MINFILE No 092GNE019(2)                                      |
| 10.37          |   | NEW ESKAY CREEK - MINFILE No 104B 008(2)                                    |
| 10.38          |   | PINE RIVER - MINFILE No 093O 009(2)                                         |
| 10.39          |   | RACHEL - MINFILE No 082FSW299(2)                                            |
| 10.40          |   | RACHEL - MINFILE No 082FSW299 - Production(2)                               |
| 10.41          |   | SILVER CUP - MINFILE No 082KNW113(2)                                        |
| 10.42          |   | SILVER CUP - MINFILE No 082KNW116(2)                                        |
| 10.43          |   | SILVER CUP - MINFILE No 082KNW220(2)                                        |
| 10.44          |   | TRUAX - MINFILE No 092JNE060(2)                                             |
| 10.45          |   | TULAMEEN - MINFILE No 092HNE128(2)                                          |

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| 10.46     |   | Tangiers Convertible Promissory Note dated June 17, 2010(3)                                                                                                                                      |
|-----------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.47     |   | Coronation Gold Property/Lincoln Resources, Inc. Joint Venture Agreement Amendment(3)                                                                                                            |
| 10.48     |   | Tangiers Waiver Re: Convertible Promissory Note dated June 17, 2010(4)                                                                                                                           |
| 10.49     |   | ACG Consulting Agreement(4)                                                                                                                                                                      |
| 10.50     |   | Silver Quest Joint Venture Agreement Amendment dated September 13, 2010(5)                                                                                                                       |
| 10.51     |   | Property Option Agreement and Addendum with Ruby Development Company dated September 1, 2010(6)                                                                                                  |
| 10.52     |   | Form of Property Purchase Agreement with Ruby Development Company dated September 1, 2010(6)                                                                                                     |
| 10.53     |   | Form of Property Purchase Addendum with Ruby Development Company dated September 1, 2010(6)                                                                                                      |
| 10.54     |   | Convertible Promissory Note with Tangiers Investors, LP dated September 27, 2010(6)                                                                                                              |
| 10.55     |   | Form of Warrants Issued to Ruby Development Company dated October 1, 2010(6)                                                                                                                     |
| 10.56     |   | Northern California Regional Center MOU dated October 14, 2010(7)                                                                                                                                |
| 10.57     |   | Convertible Promissory Note with Tangiers Investors, LP dated December 30, 2010(8)                                                                                                               |
| 10.58     |   | Securities Purchase Agreement with Asher Enterprises, Inc. dated January 4, 2011(9)                                                                                                              |
| 10.59     |   | Convertible Promissory Note issued to Asher Enterprises, Inc. (9)                                                                                                                                |
| 10.60     |   | Property Option Amendment No. 1 with Ruby Development Company dated January 26, 2011(11)                                                                                                         |
| 10.61     |   | Satisfaction of Tangiers Convertible Promissory Note dated June 17, 2010(12)                                                                                                                     |
| 10.62     |   | Geological Consulting Services Agreement dated March 7, 2011(13)                                                                                                                                 |
| 10.63     |   | Satisfaction of Tangiers Convertible Promissory Note dated September 27, 2010(14)                                                                                                                |
| 10.64     |   | Property Option Amendment No. 2 with Ruby Development Company dated April 22, 2011(15)                                                                                                           |
| 10.65     |   | Secured Promissory Note and Security Agreement with Ruby Development Company dated July 1, 2011(16)                                                                                              |
| 10.66     |   | Memorandum of Understanding with Devlin’s Bench Mining Ltd. And P. Wright Contracting Ltd dated October 14, 2011, as amended on January 19, 2012(19)                                       |
| 10.67     |   | Promissory Note with Tangiers Investors, LP dated December 29, 2011(17)                                                                                                                          |
| 10.68     |   | Convertible Promissory Note with Tangiers Investors, LP dated December 29, 2011(17)                                                                                                              |
| 10.69     |   | Form of Warrants Issued to Tangiers Investors, LP dated December 29, 2011(17)                                                                                                                    |
| 10.70     |   | Six Month Convertible Promissory Note with Tangiers Investors, LP dated  February 2, 2012(18)                                                                                          |
| 10.71     |   | Twelve Month Convertible Promissory Note with Tangiers Investors, LP dated  February 2, 2012(18)                                                                                       |
| 10.72     |   | Warrants Issued to Tangiers Investors, LP dated February 2, 2012(18)                                                                                                                             |
| 10.73     |   | Six Month Convertible Promissory Note with Tangiers Investors, LP dated  March 15, 2012(20)                                                                                            |
| 10.74     |   | Twelve Month Convertible Promissory Note with Tangiers Investors, LP dated  March 15, 2012(20)                                                                                         |
| 10.75     |   | Warrants Issued to Tangiers Investors, LP dated  March 15, 2012(20)                                                                                                                    |
| 10.76     |   | Twelve Month Convertible Promissory Note with Tangiers Investors, LP dated  June 19, 2012(21)                                                                                          |
| 10.77     |   | Warrants Issued to Tangiers Investors, LP dated June 19, 2012(21)                                                                                                                                |
| 10.78     |   | Twelve Month Convertible Promissory Note with JMJ Financial dated  July 11, 2012(22)                                                                                                   |
| 10.79     |   | Taber Mine Option Agreement, Amendment No. 1,  dated July 11, 2012(23)                                                                                                                 |
| 10.80     |   | Nine Month Convertible Promissory Note with Tonaquint, Inc, dated  August 2, 2012(25)                                                                                                  |
| 10.81     |   | Securities Purchase Agreement with Tonaquint, Inc, dated  August 2, 2012(25)                                                                                                           |
| 10.82     |   | Twenty-Four Month Convertible Promissory Note with Tangiers Investors, LP dated  October 2, 2012(26)                                                                                   |
| 10.83     |   | Willa Option Agreement with Caribou King Resources Ltd. dated October 24, 2012(27)                                                                                                               |
| 10.84     |   | Form of Amendment with Tangiers Investors, LP dated  November 14, 2012(28)                                                                                                             |
| 10.85     |   | Fraser River Land Access Agreement dated November 26, 2012(29)                                                                                                                                   |
| 10.86     |   | Secured Promissory Note Extension Agreement with Ruby Development Company dated December 12, 2012(30)                                                                                            |
| 10.87     |   | Amendment No. 1 to the Securities Purchase Agreement with Tangiers Investors, LP dated January 28, 2013(31)                                                                                      |
| 14        |   | Code of Ethics(1)                                                                                                                                                                                |
| 21.1      |   | Subsidiaries of the Registrant(19)                                                                                                                                                               |
| 23.3      |   | Consent of Geologist(6)                                                                                                                                                                          |
| 31.1*     |   | Rule 13a-14(a)/15d-14(a) Certification by the Chief Executive Officer and Chief Financial Officer                                                                                           |
| 32.1*     |   | Certification by the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| 95.1      |   | Mine Safety Disclosures (32)                                                                                                                                                                     |
| 101.INS** |   | XBRL Instance Document                                                                                                                                                                           |
| 101.SCH** |   | XBRL Taxonomy Extension Schema                                                                                                                                                                   |
| 101.CAL** |   | XBRL Taxonomy Extension Calculation Linkbase                                                                                                                                                     |
| 101.DEF** |   | XBRL Taxonomy Extension Definition Linkbase                                                                                                                                                      |
| 101.LAB** |   | XBRL Taxonomy Extension Label Linkbase                                                                                                                                                           |
| 101.PRE** |   | XBRL Taxonomy Extension Presentation Linkbase                                                                                                                                                    |

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