Document:

EXHIBIT  10.7

EQUIPMENT  PURCHASE  AGREEMENT

THIS  AGREEMENT,  made  and  entered  into this 22nd day of August, 1997, by and
between  FAUSETT  INTERNATIONAL,  INC.,  an Idaho corporation, ("FII") and ATLAS
MINING  COMPANY,  an  Idaho  corporation  ("Buyer");

     WHEREAS,  FII  owns  equipment  used  in  providing  underground mining and
related  civil  construction  contract  services  in  the  state  of  Idaho  and
throughout  the  western  United  States;  and

     WHEREAS,  Seller  desires to sell and Buyer desires to purchase from Seller
all  of  the  mining  equipment,  drills,  loaders,  trucks, tools, vehicles and
supplies  upon  the  terms  and  conditions  hereinafter  set  forth;

     NOW,  THEREFORE,  in  consideration  of the mutual covenants and agreements
herein contained, and for the other good and valuable consideration, the receipt
and  sufficiency of which is hereby acknowledged, the parties do hereby mutually
agree  as  follows:

       Agreement to Sell and to Buy.  Seller, for  itself  and  its  respective
          successors, legal representatives and assigns, hereby  agrees to sell
          to  Buyer  and  Buyer,  for  itself  and  its  successors,  legal
          representatives and assigns, hereby agrees to purchase  from  Seller,
          for  the consideration set forth in Section 2 hereof, all of Seller's
          rights,  title and interests in and to the property listed in Exhibit
          B,  attached  hereto.  Seller  warrants that the specified assets are
          free from all liabilities  and  encumbrances,  except for the secured
          interests  of  Washington  Trust  Bank  and  Orix  Credit Alliance as
          described in Exhibit A, attached hereto.  Buyer is not  assuming  any
          underlying  debts in a timely and orderly manner.

       Purchase  Price  and  Method  of  Payment.  Subject  to  the  adjustments
          Hereinafter  specified,  the  total purchase price is One Million Four
          Hundred Sixteen Thousand Ninety-Four  Dollars  ($1,416,094.00)  and is
          payable by the Buyer as follows:

          Twenty-five  Thousand  Dollars  ($25,000)  upon  signing  of  this
                agreement, the receipt of which is hereby acknowleged as earnest
                money in partial payment of the purchase price for said  assets;
                and
          The additional  sum  of  Twenty-five  Thousand Dollars ($25,000), plus
                Three Hundred Fifty Thousand Dollars  ($350,000) of Atlas Mining
                Company Stock issued at the bid price as of  the  date  of  this
                agreement to  FII,  on  or  before  the  closing  date  of  this
                agreement;  and

<PAGE>
          The balance of the purchase price  shall  be evidenced by a promissory
               Note payable  to  Seller  which provides for payment principal in
               the  amount of One Million  Sixteen  Thousand Ninety-Four Dollars
               ($1,016,094)  payable  according  to  the  following  schedule.
                  During  the  first 12 months of the term of the note, payments
                     will  be  $15,000,  payable  monthly  beginning thirty days
                     after Closing Date.  Interest will accrue at  the  rate  of
                     eight  and  three  quarters  percent  (8.75%)  per  annum.
                  Should  Buyer  sell  or  refinance  equipment  on  Exhibit  A
                     (now  financed  by Washington  Trust  or Orix Credit), then
                     Buyer will pay the additional principal payment of the sale
                     or  refinance  proceeds directly to the Creditor herein and
                     Seller  will  reduce  balance of the promissory note in the
                     amount equal to that paid  by  the  Buyer  directly to  the
                     creditor.
                  At the end of One Year after Closing  Date  the  Buyer  shall:
Pay  the  outstanding  principal  and  accrued  interest in one lump payment; or
Refinance the outstanding balance of principal and accrued interest with another
lender;  or If  after  pursuing  both  SBA  and  commercial  financing  for  the
purpose of refinancing the outstanding balance of principal and accrued interest
the  Buyer  is  unable  to  obtain  financing the Buyer shall have the option of
refinancing with the Seller the outstanding balance for additional periods of 30
month or  42 month  periods,  and for periods of one year thereafter.  The terms
of the notes shall  be  of  a  maximum 7 year amortization and annual percentage
rate no more than  the  Washington  Trust  Bank  prime  rate  +  .75%.
                  The Buyer has the right to prepay the  note  without  penalty.
                  The  Buyer  agrees that all of the equipment listed on Exhibit
                     B shall  be  subject  to  uniform  commercial code security
                     interests and/or motor vehicle title liens in  favor of the
                     Seller  to  secure  payment  of  the  amount  due under the
                     promissory note.  All  security interests shall be released
                     by the Seller when the note is satisfied.
                  Buyer  agrees  the  duty  of Seller to consummate this sale is
                     expressly contingent upon  the approval of the terms hereof
                     by Washington Trust Bank and Orix  Credit  Alliance  on  or
                     prior  to  the  Closing  Date.

       Liabilities  Not  Assumed.  This  agreement is intended by the parties to
          be for  the  sale  of  equipment only.  It is expressly understood and
          agreed  that Buyer shall not assume any liability  or  obligations  of
          any  nature,  financial or otherwise, pertaining to the conduct of the
          business by Seller prior to the date of closing  or  the  ownership by
          Seller of the assets sold to Buyer hereunder.

       Closing.  It  is  hereby  agreed  that this matter shall be closed at the
          office of HULL,  BRANSTETTER  &  SIMPSON,  Wallace,  Idaho.  All funds
          and  instruments  necessary  to  complete  the  sale  and  create  the
          contemplated security interests  will  be  deposited  with  them.  The
          Closing Date shall be ______________, 1997, unless an earlier date  is
          mutually  agreed  upon.

<PAGE>
       Documents  to  be  Delivered by  Seller  at  Closing.  At Closing, Seller
          Shall deliver  to  Buyer,  in form and substance satisfactory to Buyer
          in each case:
          Certified copies of resolutions duly adopted by the Board of Directors
               and  ratification  of  shareholders  of  FII  approving  the
               transactions  referred  to herein  and  authorizing and directing
               the  execution  of  this  Agreement  and  the performance of  all
               obligations  hereunder;
          Fully executed  Bills  of  Sale  and  Assignment  with full warranties
               of  title  (except  as  otherwise  shown  on  Exhibit  A  hereto)
               transferring to Buyer all of Seller's interests of every kind and
               nature in and to all equipment and supplies as listed in  Exhibit
               B;
          All  other documents or instruments which Buyer may reasonably require
               to assure full and effective transfer to Buyer of all of Seller's
               property transferred to Buyer  pursuant  to  the  terms  of  this
               agreement.
          Seller agrees to give  the  Board of Directors of Atlas Mining Company
               voting  rights  to the  stock  issued by Atlas as partial payment
               herein,  said  proxy to be nonrevocable  for  the  term  of  this
               agreement  or  extensions  thereof.

       Documents  to  be Delivered by Buyer at Closing.  At Closing, Buyer shall
          deliver to  Seller,  in  form  and  substance satisfactory  to  Seller
               in  each  case;
          Payment  in full of  that  portion of the consideration payable on the
               Date of Closing  as  specified  in  Section  2;
          Duly  executed  promissory note purchase  money security agreement and
               uniform  commercial  code  filing  instrument  covering  assets
               purchased in the amount and payable  in  the manner specified  in
               Section  2;
          Certified  copies  of  resolutions  duly  adopted  by Buyer's Board of
               Directors approving  the transactions referred to herein and
               authorizing and directing the execution of this Agreement and the
               performance of all obligations hereunder;
          Such other documents as may be reasonably requested by Seller in order
               to complete  the  transaction  contemplated  hereby.

       Possession.  Seller shall deliver to Buyer, and Buyer shall take delivery
          of, property to Seller  being purchased and sold hereunder on the Date
          of Closing.

       Seller's Covenant, Representations, and Warranties.  As an inducement  to
          Buyer to  enter  into  this  Agreement,  Seller  for  itself  and  its
          respective  representatives,  successors  and  assigns,  jointly  and
          severally  covenant,  represent  and  warrant  to  Buyer  as  follows:
The  Seller  is  now,  and  on  the  Date of Closing will be, a corporation duly
   organized and in good standing under the laws of the State of Idaho, with the
   power to own, sell and transfer its assets, inventory and properties pursuant
   to this  Agreement;

<PAGE>
The  execution,  delivery  and  performance by the Seller of this Agreement, and
   each other instrument or agreement contemplated by this agreement, are within
   the  corporate  powers  of  the  Seller,  have  been  duly  authorized by all
   necessary corporate action  on  the part of the Seller (including shareholder
   approval  of  transactions  or  documents contemplated by this Agreement with
   respect to which shareholder  approval  is  required  by  law  or each of the
   Seller's governing instruments), and will not violate or constitute a default
   under any provision of law or  of  the  Articles  of  Incorporation, By-Laws,
   or other contractual obligation of the Seller.  This Agreement, together with
   all  other  instruments  or  agreements  contemplated  hereunder,  when  duly
   executed  and  delivered,  will be the legal, valid and binding obligation of
   the Seller and its heirs or assigns, and is enforceable against the Seller in
   accordance with their respective terms;
Except  as specified in Exhibit A, Seller has good and marketable title to their
   respective  assets  sold  hereunder.  On  the  Date  of  Closing all tangible
   personal property purchased hereunder shall be in as good order and condition
   as on the date  of  this  Agreement,  ordinary  wear  and  tear  excepted;
The Seller is not a party to or by any agreement or instrument or subject to any
   charter  or  corporate  resolution  or any order, injunction or decree of any
   court or  governmental agency  affecting the properties  being  purchased  by
   Buyer hereunder;
Except  to the extent otherwise specifically agreed upon under the terms of this
   Agreement,  the  risk  of  loss  of  the  properties  purchased  by the Buyer
   Hereunder shall remain with Seller until the Closing, at which time such risk
   shall become that  of  the  Buyer.

      Buyer's  Covenants,  Representations and Warranties.  As  an inducement to
            Seller to enter into this Agreement, Buyer covenants, represents and
            warrants to Seller that:
Buyer  is now, and on the Date of Closing will be, a corporation duly organized,
   Validly  existing  and in good standing under the laws of the State of Idaho,
   with  power  to  own,  purchase  and acquire Seller's assets pursuant to this
   Agreement;  The  execution,  delivery  and  performance  by  Buyer  of  this
   Agreement,  and  each  other  instrument  or  agreement  contemplated  by the
   Agreement,  are  within  the  corporate  powers  of  Buyer,  have  been  duly
   authorized  by  all  necessary corporate action on the part of Buyer and will
   not violate  or constitute default under any provision  of  the  Articles  of
   Incorporation,  Bylaws  or any other contractual obligation  of  Buyer.  This
   Agreement,  together  with  all  other instruments or agreements contemplated
   hereunder,  when  duly executed and delivered, will be the legal,  valid  and
   binding  obligation  of  Buyer,  and  will  be  enforceable against Buyer  in
   accordance  with  their  respective  terms.
From  and  after  the  time  of  closing  Buyer agrees to continually insure the
   equipment  subject  to  this agreement in the amount equal to the amount owed
   FII  from  time  to  time.  Buyer further agrees to name FII as an additional
   Insured  on  such  theft  and casualty policy and with indemnification paying
   all proceeds of claims  directly  to  FII  or  its  assigns.

     10.    Conditions  to Obligation of Buyer.  The obligations of Buyer under
            this Agreement are expressly conditioned upon  satisfaction  of  the
            following conditions  as  of  the  Date  of  Closing:
All  the  terms,  covenants and conditions of this Agreement to be compiled with
and  performed  by  the  Seller on or before the Date of Closing shall have been
fully  complied  with  and  performed  in  all  material  respects;

<PAGE>
Seller  shall  have  afforded  to the officers and authorized representatives of
Buyer  free and full access to the equipment and supplies of Seller prior to the
Date  of  Closing  in  order that Buyer shall have full opportunity to make such
inspections  of  the  assets  being  purchased  hereunder  and  such  other
investigations  as  it  shall  desire,  including  the right of Buyer to have an
independent  outside appraisal of the assets in Exhibit B, and Seller shall have
furnished  Buyer  with  such  additional  financial and operating data and other
information as to the maintenance operation of Seller's assets which Buyer shall
from  time  to  time  have  reasonably  requested  prior to the Date of Closing.

     11.    Brokerage.  Seller  and  Buyer  warrant  and represent to each other
            that there is  no  brokerage or finder's fee payable to any party in
            connection with the sale o the  assets,  inventory,  and  properties
            provided for in this Agreement.

     12.    Assignment.  Prior to the Date of  Closing,  Buyer may at its option
            assign  its  interests under this Agreement to a third party without
            the prior consent  of  Seller.  Seller may  at its option assign its
            interests under this agreement to a third party  without  the  prior
            written  consent  of Buyer.

     13.    Miscellaneous.
     All  covenants, agreements, representations and warranties contained herein
            Shall  survive  the  execution  of  this  Agreement  and the Date of
            Closing hereunder;
     The  parties  shall execute and deliver such other and further documents as
            may be necessary to implement and consummate this Agreement;
            This Agreement shall be binding upon and inure to the benefit and be
                         enforceable  against  the  parties  hereto  and  their
                         respective  successors  and assigns, and shall  in  all
                         respects  be  governed,  enforced  and  interpreted  in
                         accordance with the  laws of  the  State  of  Idaho;
     Attorney  for  the  Seller  is Ben Simpson, Hull Branstetter & Simpson, 416
            River  Street,  Wallace,  Idaho  83873.  Each party acknowledges the
            right of the other to have any and all documents reviewed  by  their
            respective  representative.

     All  notices,  demands  and  requests  required  or  permitted  to be given
            hereunder shall be deemed duly given if and when mailed by certified
            or registered mail, postage  prepaid,  and, pending  the designation
            in writing of another address, addressed  to  Seller  as  follows:

                  Fausett  International,  Inc.
                  1221  W.  Yellowstone  Avenue
                  Osburn,  Idaho  83849

     and  addressed  as  follows:

                  Atlas  Mining  Company
                  P.O.  Box  631
                  Mullan,  ID  83846

        (f)    This  Agreement  and  the  Exhibits  attached  hereto contain the
               entire agreement between the parties, superseding in all respects
               any and all prior oral  or  written agreements or understandings,
               between  the  parties hereto pertaining  to  the sale of Seller's
               equipment purchased and sold hereunder, and shall  be  amended or
               modified only  by  written  instrument  signed  by  both  parties
               hereto.   This  Agreement  may  be  executed  in  one  or  more
               counterparts, each of which  shall  be  deemed  an  original  and
               all of which, taken together, shall constitute  one  agreement.

<PAGE>
     IN  WITNESS  WHEREOF, each of the parties hereto executed this Agreement on
the  day  and  year  first  above  written.

     SELLER:     Fausett  International,  Inc.
                 By:  _________________________
                 Its:  ________________________
                 Date:  _______________________

     BUYER:     Atlas  Mining  Company
                By:  _________________________
                Its:  ________________________
                Date:  _______________________

<PAGE>EXHIBIT  10.8

                                  SCHEDULE "A"

<TABLE>
<CAPTION>
QUANTITY  DESCRIPTION OF PROPERTY                 Year & Model  Serial No.
<S>       <C>                                     <C>           <C>
          (Indicate whether  "NEW" OR "USED"
1         Used Wagner 6-Yard Loaders              ST-6C         DA14P0344CR005-562

          Complete with all related attachments and accessories thereto.
</TABLE>

THE  SECURITY  INTEREST CREATED BY THIS SECURITY AGREEMENT INSOFAR AS IT RELATES
TO  THE  ABOVE DESCRIBED PROPERTY IS A PURCHASE MONEY SECURITY INTEREST WITH THE
PROCEEDS HEREOF BEING USED BY MORTGAGOR TO ACQUIRE THE ABOVE DESCRIBED PROPERTY.

<TABLE>
<CAPTION>
QUANTITY  DESCRIPTION OF PROPERTY                 Year & Model  Serial No.
<S>       <C>                                     <C>           <C>
          Indicate whether  "NEW" OR "USED"
1         New Gardner Denver Jumbo Drill          MK35-HE       IJ87K36

          Complete with all related attachments and accessories thereto.
</TABLE>

THE  SECURITY  INTEREST CREATED BY THIS SECURITY AGREEMENT INSOFAR AS IT RELATES
TO  THE  ABOVE DESCRIBED PROPERTY IS A PURCHASE MONEY SECURITY INTEREST WITH THE
PROCEEDS HEREOF BEING USED BY MORTGAGOR TO ACQUIRE THE ABOVE DESCRIBED PROPERTY.

<TABLE>
<CAPTION>
QUANTITY  DESCRIPTION OF PROPERTY                 Year & Model  Serial No.
<S>       <C>                                     <C>           <C>
          (Indicate whether  "NEW" OR "USED"
1         Wagner Scooptram                        ST-6C         DA14P0434

          Complete with all related attachments and accessories thereto.
</TABLE>

THE  SECURITY  INTEREST CREATED BY THIS SECURITY AGREEMENT INSOFAR AS IT RELATES
TO  THE  ABOVE DESCRIBED PROPERTY IS A PURCHASE MONEY SECURITY INTEREST WITH THE
PROCEEDS HEREOF BEING USED BY MORTGAGOR TO ACQUIRE THE ABOVE DESCRIBED PROPERTY.

<PAGE>
<TABLE>
<CAPTION>
QUANTITY  DESCRIPTION OF PROPERTY                 Year & Model  Serial No.
<S>       <C>                                     <C>           <C>
          (Indicate whether  "NEW" OR "USED"
2         EJC 4-Wheel Drive Dump Truck            JDT-415       1664, 1793

          Complete with all related attachments and accessories thereto.
</TABLE>

<TABLE>
<CAPTION>
                                    EXHIBIT B
PARTS INVENTORY
<S>                                                       <C>
--------------------------------------------------------  -------
 2   Brake Valves  1600   (trucks & __________)           $ 2,500
--------------------------------------------------------  -------
     Throttle converters & Orbital Steering valves        $ 4,000
--------------------------------------------------------  -------
     Hydraulic Pumps                                      $ 5,000
--------------------------------------------------------  -------
     Misc. starters                                       $ 2,000
--------------------------------------------------------  -------
     5yd Differential loader                              $ 2,000
--------------------------------------------------------  -------
     5yd Torque converter                                 $ 3,800
--------------------------------------------------------  -------
 16  Var. sizes drive lines & yokes                       $ 2,000
--------------------------------------------------------  -------
 28  Universal Joints Var. sz.                            $ 8,000
--------------------------------------------------------  -------
 8   New Duetx heads  532@                                $ 4,256
--------------------------------------------------------  -------
 24  912W heads   125@                                    $ 3,000
--------------------------------------------------------  -------
 9   413  Heads  125@                                     $1,1125
--------------------------------------------------------  -------
     Hydr pump 2 stack for 206 boomer                     $ 7,000
--------------------------------------------------------  -------
 5   Racks misc. pins & bushings                          $ 5,000
--------------------------------------------------------  -------

--------------------------------------------------------  -------
     Injector Pumps:
--------------------------------------------------------  -------
 2   3 Cycl 912w 1000@                                    $ 1,000
--------------------------------------------------------  -------
 2   4 Cycl 912w 1000@                                    $ 1,000
--------------------------------------------------------  -------
 3   6 Cycl 912w 1000@                                    $ 4,000
--------------------------------------------------------  -------
 2   8L413  1000@                                         $ 1,000
--------------------------------------------------------  -------
     Misc Duetz parts                                     $ 7,000
--------------------------------------------------------  -------
     One van full Filters new 30,000  complete disarray   $ 3,000
--------------------------------------------------------  -------
 8   Brake kits  1200@                                    $ 9,600
--------------------------------------------------------  -------
     Misc. Wagner/Clark components                        $ 3,500
--------------------------------------------------------  -------
 4   Turbo's altitude Comps.   800@                       $ 3,200
--------------------------------------------------------  -------
     Various hydr. Cyclinders, piston rods, repair kits   $15,000
--------------------------------------------------------  -------
 3   Hydr.  Coolers  1200  & radiators                    $ 3,000
--------------------------------------------------------  =======
     TOTAL                                                $91,481
--------------------------------------------------------  =======
</TABLE>

<TABLE>
<CAPTION>
QTY        YR       MFG      EQ#     MODEL      ENGINE       S/N      PRICE
--------  -----  ---------  -----  ---------  ----------  ---------  --------
<S>       <C>    <C>        <C>    <C>        <C>         <C>        <C>
LOADERS:
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         EARLY  WAGNER            ST-2B                             $ 20,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
          70'S
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         EARLY  WAGNER            ST-2B                             $ 20,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
          70'S
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1981   WAGNER     301    3  YD      F-8L #413   DA04C489   $ 45,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                                   LHD
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1984   WAGNER     302    3  YD      F-8L #413   DA04P449   $ 20,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                                   LHD
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1981   WAGNER     501    ST-SH LHD  F-12L #413  421-81     $ 25,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1991   WAGNER     601    ST-6C LHD  F-10L #413  DA1490434  $ 95,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1989   WAGNER     602    ST-6C LHD  F-10L #413  DA14P034   $ 85,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                                   (eod)                  4
--------  -----  ---------  -----  ---------  ----------  ---------  --------
TRUCKS:
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1990   WAGNER     HTO3   MT-416     F-8L #413   DBO6P026   $ 45,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                                                          0
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1989   EIMCO      HTO2   JD 415-B   F-8L #413   1793       $ 35,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1988   EIMCO      HTO1   JD 415-B   F-8L #413   1664       $ 35,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1987   DUX               DT-15      3306-CAT    661        $ 10,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
DRILLS:
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1995   GARDNER    MK-35  2 BOOM                 IJ87K36    $225,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                 DENVER            JUMBO
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1         1987   MERC 14 SINGLE    JUMBO                  ID#2331    $ 70,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                 BOOM
--------  -----  ---------  -----  ---------  ----------  ---------  --------
3                GARDNER DENVER    3100       W/PR123                $ 36,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
                 AIR TRACKS                   DRILLS
--------  -----  ---------  -----  ---------  ----------  ---------  --------
1                GARDNER DENVER MINI BOOM LONG HOLE DRILL            $ 20,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
21 &             JACKLEG & STOPERS                                   $ 31,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
11               $1,000 @
--------  -----  ---------  -----  ---------  ----------  ---------  --------
2                SINKING HAMMERS, 5 CHIPPING HAMMERS, 4 SPLITTERS    $ 11,000
--------  -----  ---------  -----  ---------  ----------  ---------  --------
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

MISCELLANEOUS:
QTY  YR       MFG          EQ#       MODEL       ENGINE   S/N      PRICE
---  -------  -----------  --------  ----------  -------  -------  -------
<S>  <C>      <C>          <C>       <C>         <C>      <C>      <C>
1             CYDERMAN-HERMAN W/SPARE BOOM                         $12,500
---  -------  -----------  --------  ----------  -------  -------  -------
1       1979  ADSPACE                12X63 DRYHOUSE       ID#3034  $15,000
              8 Showers, 4 Sinks, 2
              Toilets, 2 Urinals,
              Electr. Heat & A/C
---  -------  -----------  --------  ----------  -------  -------  -------
1             CATERPILLAR  GEN. SET ON SKIDS 365 K.W.              $30,000
              3 Phase 480 Volts 3408 B CAT Powered
---  -------  -----------  --------  ----------  -------  -------  -------
1             INGERSOLL RAND         SR2000      SERIES ELECTRIC   $14,000
---  -------  -----------  --------  ----------  -------  -------  -------
6             5 40' & 1 30' STORAGE VAN     $2,500 @               $15,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             20' Shipping Container                               $ 2,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             30' OFFICE/DRY TRAILER                               $ 6,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             14' Flat Trailer w/Tilt                              $   500
---  -------  -----------  --------  ----------  -------  -------  -------
1             8' X 12' Tool Trailer                                $   500
---  -------  -----------  --------  ----------  -------  -------  -------
2    1978-79  GARDNER DENVER FLEXAIR COMPRESSORS 750CFM 11,000     $22,000
              @
---  -------  -----------  --------  ----------  -------  -------  -------
2      1980s  ATLAS COPCO COMPRESSORS   175CFM  5,000@             $10,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             GARDNER DENVER 300 COMPRESSOR  300CFM                $ 7,500
---  -------  -----------  --------  ----------  -------  -------  -------
1             JARVIS CLARK SIZZORLIFT                              $30,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             GETMAN LUBE TRUCK                                    $15,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             GETMAN PERSONNEL CARRIER                             $15,000
---  -------  -----------  --------  ----------  -------  -------  -------
3             WELDERS, 1 HOBART, 2 LINCOLN   4,000@                $12,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             SHOTCRETE MACHINE                                    $20,000
---  -------  -----------  --------  ----------  -------  -------  -------
1             FIAT ALLIS   FD5                                     $25,000
              DOZER
---  -------  -----------  --------  ----------  -------  -------  -------
1             MANCHE                 24' Gauge                     $ 7,500
              MOTOR
---  -------  -----------  --------  ----------  -------  -------  -------
1             PLYMOUTH LOCOMOTIVE #5903                            $15,000
---  -------  -----------  --------  ----------  -------  -------  -------
4             2 @ 20 CELL LOCO & BATTERY CHARGERS                  $ 8,250
---  -------  -----------  --------  ----------  -------  -------  -------
1             12 B MUCKER            24' Gauge                     $ 6,000
---  -------  -----------  --------  ----------  -------  -------  -------
4             ORE & TIMBER CARS FOR RAIL $2,500 @                  $10,000
---  -------  -----------  --------  ----------  -------  -------  -------
</TABLE>

<PAGE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
VEHICLES:
----------------------------------------------------------------------------------------------
QTY    YR  MFG        EQ#                          MODEL       ENGINE       S/N        PRICE
----------------------------------------------------------------------------------------------
<S>                                        <C>                                         <C>
1    1994  FORD   TON  4X4  P.U.           12,000-11,116.9                                $883
----------------------------------------------------------------------------------------------
2    1994  FORD   TON  4X4  P.U.           24,000-17,677.8                              $6,322
----------------------------------------------------------------------------------------------
1    1994  CHEV.   TON  P.U.                                                           $12,000
----------------------------------------------------------------------------------------------
1    1983  DODGE  FLATBED  1  TON
----------------------------------------------------------------------------------------------
1    1981  GMC  V-7  FLATBED  2   TON                                                   $7,000
----------------------------------------------------------------------------------------------
1    1984  FORD   TON  4X4  P.U.                                                        $5,000
----------------------------------------------------------------------------------------------
1    1994  FORD  VAN                      10,000-10,621.28                              <$621>
----------------------------------------------------------------------------------------------
1    1982  CHEV.  4X4  DIESEL                                                           $2,000
----------------------------------------------------------------------------------------------
OFFICE EQUIPMENT:
----------------------------------------------------------------------------------------------
1    1996  MSD  IBM  PENTIUM  W/MONITOR,  PRINTER  &  SOFTWARE                          $3,000
----------------------------------------------------------------------------------------------
1          IBM  COMPACT  488  W/MONITOR,  PRINTER  &  SOFTWARE                          $1,000
----------------------------------------------------------------------------------------------
1    1995  MINOLTA  EP1081  COPIER                                                      $3,000
----------------------------------------------------------------------------------------------
           4  DESKS  &  CHAIRS,  9  3  DRAWER  FILE  CABINETS                           $3,000
----------------------------------------------------------------------------------------------
VICTRAULIC SUPPLIES value based on '95 inventory.  See attached sheets pg. B3 & B4     $16,000
----------------------------------------------------------------------------------------------
PUMPS,  FANS,  LAMPS  &  CHARGERS   See  attached.  Pg.  B5                            $77,934
----------------------------------------------------------------------------------------------
MISC  PARTS  IN  GREEN  BUILDING  See  attached.  Pg.  B6  &  B7                       $58,345
----------------------------------------------------------------------------------------------
MISC PARTS IN SHOP AND SHED FOR EQUIP. ABOVE.  See attached.  Pg. B8                   $91,481
----------------------------------------------------------------------------------------------
Write-down  Inventory  "97"                                                            -21,000
----------------------------------------------------------------------------------------------
      TOTAL:                                                                        $1,416,094
----------------------------------------------------------------------------------------------
Equipment  Disposal                                                                   -150,000
----------------------------------------------------------------------------------------------
</TABLE>

<PAGE>
<TABLE>
<CAPTION>
DESCRIPTION                         QUANTITY  PRICE    TOTAL
-----------  ---------------------  --------  -----  ---------
<S>          <C>                    <C>       <C>    <C>
2X2X1        N025 VIC TEE               9     21.76  $  195.84
-----------  ---------------------  --------  -----  ---------
2X2X1        N029 VIC TEE NPT           1     23.04  $   23.04
-----------  ---------------------  --------  -----  ---------
2X2X2        N020 VIC TEE              35     10.06  $  352.10
-----------  ---------------------  --------  -----  ---------
2X1          N050 VIC REDUCER           4      7.71  $   30.84
-----------  ---------------------  --------  -----  ---------
4X2          N050 VIC REDUCER           6      9.00  $   54.00
-----------  ---------------------  --------  -----  ---------
2X1          N051 VIC REDUCER  NPT      3      9.03  $   27.09
-----------  ---------------------  --------  -----  ---------
4X2          N051 VIC REDUCER  NPT      1     12.04  $   12.04
-----------  ---------------------  --------  -----  ---------
2'           N010  90 DEGREE           54      6.53  $  352.62
-----------  ---------------------  --------  -----  ---------
2'           N011 45 DEGREE            45      6.53  $  293.85
-----------  ---------------------  --------  -----  ---------
2'           N012 22   DEGREE          67      6.97  $  466.99
-----------  ---------------------  --------  -----  ---------
2'           N013 11   DEGREE          12     16.67  $  200.04
-----------  ---------------------  --------  -----  ---------
2'           N077 VIC COUPLING        177     10.30  $1,823.10
-----------  ---------------------  --------  -----  ---------
2X1          N072 VIC DROP NPT         11     13.81  $  151.91
-----------  ---------------------  --------  -----  ---------
1'           N077 VIC COUPLING         32      3.53  $  112.96
-----------  ---------------------  --------  -----  ---------
3'           N077 VIC COUPLING         20      6.16  $  123.80
-----------  ---------------------  --------  -----  ---------
21/2 '       N012 22   DEGREE           4      7.31  $   29.24
-----------  ---------------------  --------  -----  ---------
3'           N013 11    DEGREE          3     10.25  $   30.75
-----------  ---------------------  --------  -----  ---------
3'           N012 22   DEGREE           8     10.25  $   88.00
-----------  ---------------------  --------  -----  ---------
3X2          N050 VIC REDUCER           8      7.66  $   61.28
-----------  ---------------------  --------  -----  ---------
3'           N011 45 DEGREE            12     11.61  $  139.32
-----------  ---------------------  --------  -----  ---------
3'           N010 90 DEGREE            13     11.61  $  150.93
-----------  ---------------------  --------  -----  ---------
3'           N078 SNAP JOINT           12     16.23  $  194.76
-----------  ---------------------  --------  -----  ---------
4'           N077 VIC COUPLING        150     10.40  $1,560.00
-----------  ---------------------  --------  -----  ---------
4'           N010 90 DEGREE            13     19.32  $  251.60
-----------  ---------------------  --------  -----  ---------
4'           N012 22    DEGREE         28     13.75  $  385.00
-----------  ---------------------  --------  -----  ---------
             N011 45 DEGREE            37     19.32  $  714.84
-----------  ---------------------  --------  -----  ---------
4            N013 11    DEGREE          8     13.75  $  110.00
-----------  ---------------------  --------  -----  ---------
4X1          N085  TEE                  9     26.06  $  234.54
-----------  ---------------------  --------  -----  ---------
4X2          N029 TEE                   1     28.94  $   28.94
-----------  ---------------------  --------  -----  ---------
4X1          N072 DROP NPT              2     14.57  $   29.14
-----------  ---------------------  --------  -----  ---------
6X11/2       N072 DROP                  7     22.47  $  157.29
-----------  ---------------------  --------  -----  ---------
6'           N077 VIC COUPLINGS        30     18.67  $  560.10
-----------  ---------------------  --------  -----  ---------
6'           N010 90 DEGREE            11     36.10  $  397.10
-----------  ---------------------  --------  -----  ---------
6'           N012 22   DEGREE          14     39.01  $  546.14
-----------  ---------------------  --------  -----  ---------
6'           N020 TEE                   4     58.76  $  235.04
-----------  ---------------------  --------  -----  ---------
6'           N0715 CHECK VALVE          4    212.46  $  849.84
-----------  ---------------------  --------  -----  ---------
4'           N0715 CHECK VALVE          2    111.64  $  223.88
-----------  ---------------------  --------  -----  ---------
8            N0715 CHECK VALVE          2     81.40  $  162.80
-----------  ---------------------  --------  -----  ---------
DESCRIPTION                         QUANTITY  PRICE    TOTAL
-----------  ---------------------  --------  -----  ---------
8'           N077 VIC COUPLINGS        37     38.12  $1,188.44
-----------  ---------------------  --------  -----  ---------
12'          N077 VIC COUPLINGS         6     54.94  $  329.64
-----------  ---------------------  --------  -----  ---------
8'           N010 90 DEGREE             3     75.76  $  287.28
-----------  ---------------------  --------  -----  ---------
8'           N011 45 DEGREE             3    100.88  $  302.64
-----------  ---------------------  --------  -----  ---------
8X6          N050 REDUCER               1     47.84  $   47.84
-----------  ---------------------  --------  -----  ---------
6'           BUTTERFLY VALVE            3    223.94  $  671.82
-----------  ---------------------  --------  -----  ---------
4'           BUTTERFLY VALVE            5    100.68  $  503.40
-----------  ---------------------  --------  -----  ---------
3'           BUTTERFLY VALVE            7     74.89  $  524.23
-----------  ---------------------  --------  -----  ---------
2'           BUTTERFLY VALVE            6     45.40  $  272.40
-----------  ---------------------  --------  -----  ---------
2'           BALL VALVE                 2     54.28  $  108.56
-----------  ---------------------  --------  -----  ---------
2'           BALL VALVE                 6     24.01  $  144.06
-----------  ---------------------  --------  -----  ---------
6'           N0995 VIC COUPLER          2     93.98  $  187.96
-----------  ---------------------  --------  -----  ---------
4'           N060 CAP ENDS              3      5.91  $   17.73
-----------  ---------------------  --------  -----  ---------
4X3          N050 REDUCER               8     11.29  $   22.58
-----------  ---------------------  --------  -----  ---------
4X2          N051 REDUCER NPT           5     12.04  $   60.20
-----------  ---------------------  --------  -----  ---------
6'           WHY                        1    107.41  $  107.41
-----------  ---------------------  --------  -----  ---------
6X4          N051 REDUCER NPT           1     87.60  $   87.60
-----------  ---------------------  --------  -----  ---------
4'           WHY                        2     60.54  $  121.08
-----------  ---------------------  --------  -----  ---------
4'           N078 SNAP JOINTS           9     20.90  $  188.10
-----------  ---------------------  --------  -----  ---------
2'           N078 SNAP JOINTS           3     10.30  $   30.90
-----------  ---------------------  --------  -----  ---------
1'           N078 SNAP JOINTS           4      7.87  $   31.48
-----------  ---------------------  --------  -----  ---------
</TABLE>

<PAGE>
                                   EXHIBIT "A"

EQUIPMENT:     All  equipment  of  Debtor  now  owned  or  hereafter  acquired
including,  but not limited to mining equipment and machinery, together with all
parts,  fittings,  and  accessions  at  anytime  acquired,  wherever  located.

INVENTORY:     All  inventory  of  debtor  now  owned  or  hereafter  acquired,
including,  but  not  limited to, raw materials, work in process, finished goods
and  materials and supplies used or consumed in debtor's business including, but
not  limited  to  drill bits, drill shafts and other consumable mining inventory
whether  in  the  possession  of  the debtor, warehouseman, bailee, or any other
person  or wherever located, and all proceeds and products of debtor's inventory
in  any  form.

CASH  AND  DEPOSIT ACCOUNTS: All cash and deposit accounts in any form excluding
payroll  and  tax  reserve  accounts.

DATED  this  11th  day  of  October,  1989.

Fausett  International,  Inc.

By:________________________________
                    President

By:________________________________
                    Treasurer

Washington  Trust  Bank

By:_________________________________
                    Vice  President

<PAGE>
                           FAUSETT INTERNATIONAL, INC.
                           FAUSETT MINE SERVICES, INC.

                                    Exhibit A

ACCOUNTS:  All  accounts,  chattel  paper,  contracts  and contract receivables,
instruments,  documents  or  other writing evidencing a monetary obligation, all
other rights to payments, including, but not limited to, all general intangibles
evidencing or comprising a right to receive payment, including all city, county,
state  and federal tax refunds or other receivables due from such sources now or
at  anytime  hereafter existing whether or not earned by performance arising out
of  the  conduct  of  the  Debtor's  business  together with all rights, titles,
security  and  guaranties of each account including any right to stop in transit
and  all  security interest, claims and pledges whether voluntary or involuntary
which  are  pertinent to or affect such accounts and all returned or repossessed
goods  sold  in  inventory.  All  accounts,  chattel  paper, instruments general
intangibles,  and  rights  to  payment  of every kind, now or hereafter owing to
Debtor  including  but  not  limited to that certain contract between Debtor and
Pegasus  Gold  Corporation  dated  24th  day  of  June,  1994.

CASH  AND  DEPOSIT  ACCOUNTS:  All  cash  deposit accounts in any form excluding
payroll  and  tax  reserve  accounts.

GENERAL  INTANGIBLES:  All  general  intangibles (as defined in Article 9 of the
Uniform  Commercial  Code)  now  owned  or hereafter acquired, together with all
renewals,  replacements and/or substitutions therefore or additions thereto, all
rights  accruing  therefrom  and  all  proceeds  thereof.

FAUSETT  INTERNATIONAL,  INC.

By:_______________________________

By:_______________________________

FAUSETT  MINE  SERVICES,  INC.

By:_______________________________

By:_______________________________

<PAGE>
                                   EXHIBIT "A"

EQUIPMENT:     All  equipment  of  Debtor  now  owned  or  hereafter  acquired
including,  but not limited to mining equipment and machinery, together with all
parts,  fittings,  and  accessions  at  anytime  acquired,  wherever  located.

INVENTORY:     All  inventory  of  debtor  now  owned  or  hereafter  acquired,
including,  but  not  limited to, raw materials, work in process, finished goods
and  materials and supplies used or consumed in debtor's business including, but
not  limited  to  drill bits, drill shafts and other consumable mining inventory
whether  in  the  possession  of  the debtor, warehouseman, bailee, or any other
person  or wherever located, and all proceeds and products of debtor's inventory
in  any  form.

CASH  AND  DEPOSIT ACCOUNTS: All cash and deposit accounts in any form excluding
payroll  and  tax  reserve  accounts.

DATED  this  11th  day  of  October,  1989.

Fausett  International,  Inc.

By:________________________________
                   President

By:________________________________
                   Treasurer

Washington  Trust  Bank

By:_________________________________
                   Vice  President

<PAGE>
                           FAUSETT INTERNATIONAL, INC.
                           FAUSETT MINE SERVICES, INC.

                                    Exhibit A

ACCOUNTS:  All  accounts,  chattel  paper,  contracts  and contract receivables,
instruments,  documents  or  other writing evidencing a monetary obligation, all
other rights to payments, including, but not limited to, all general intangibles
evidencing or comprising a right to receive payment, including all city, county,
state  and federal tax refunds or other receivables due from such sources now or
at  anytime  hereafter existing whether or not earned by performance arising out
of  the  conduct  of  the  Debtor's  business  together with all rights, titles,
security  and  guaranties of each account including any right to stop in transit
and  all  security interest, claims and pledges whether voluntary or involuntary
which  are  pertinent to or affect such accounts and all returned or repossessed
goods  sold  in  inventory.  All  accounts,  chattel  paper, instruments general
intangibles,  and  rights  to  payment  of every kind, now or hereafter owing to
Debtor  including  but  not  limited to that certain contract between Debtor and
Pegasus  Gold  Corporation  dated  24th  day  of  June,  1994.

CASH  AND  DEPOSIT  ACCOUNTS:  All  cash  deposit accounts in any form excluding
payroll  and  tax  reserve  accounts.

GENERAL  INTANGIBLES:  All  general  intangibles (as defined in Article 9 of the
Uniform  Commercial  Code)  now  owned  or hereafter acquired, together with all
renewals,  replacements and/or substitutions therefore or additions thereto, all
rights  accruing  therefrom  and  all  proceeds  thereof.

FAUSETT  INTERNATIONAL,  INC.

By:_______________________________

By:_______________________________

FAUSETT  MINE  SERVICES,  INC.

By:_______________________________

By:_______________________________

<PAGE>
<TABLE>
<CAPTION>

                                    EXHIBIT B

GREEN  BUILDING:

<C>  <S>                                                              <C>
---  ---------------------------------------------------------------  --------
  1  Air powered welder                                               $  2,000
---  ---------------------------------------------------------------  --------
  3  Piston pumps                                                     $  3,300
---  ---------------------------------------------------------------  --------
  1  Grout pump-hand oper.                                            $    800
---  ---------------------------------------------------------------  --------
     Alimak climber motor                                             $  1,800
---  ---------------------------------------------------------------  --------
     G.D. feed motor & gear box                                       $  2,000
---  ---------------------------------------------------------------  --------
     1000 feet vent bag var. size  2.25@                              $  2,250
---  ---------------------------------------------------------------  --------
  3  Air saws 5 @300,   2@ 1200,    1@ 1500                           $  2,400
---  ---------------------------------------------------------------  --------
  7  Shelves misc. G.D. parts                                         $  6,000
---  ---------------------------------------------------------------  --------
  3  Chest Valves  700 @                                              $  2,100
---  ---------------------------------------------------------------  --------
 10  Chest valves  350 @                                              $  3,500
---  ---------------------------------------------------------------  --------
  4  Cyderman air valves 150 @                                        $    600
---  ---------------------------------------------------------------  --------
  5  Shelves, misc Wagner & mantrip parts, bushings, bearings, pins,
     hydr. & water pump parts                                         $  8,000
---  ---------------------------------------------------------------  --------
     Hilti concrete drill electric                                    $  2,000
---  ---------------------------------------------------------------  --------
  2  DH 123 drifter drills 2800 @ 1 dismantled                        $  5,600
---  ---------------------------------------------------------------  --------
     Misc 310 Cavo parts                                              $  4,000
---  ---------------------------------------------------------------  --------
  3  Air tuggers  7000 winch.                                         $  2,100
---  ---------------------------------------------------------------  --------
 12  6' & 8' cheave blocks  150@                                      $  1,800
---  ---------------------------------------------------------------  --------
     Misc. Weldon air pump parts                                      $  2,500
---  ---------------------------------------------------------------  --------
     Misc. leg parts - jacklegs & Drill steel                         $  1,000
---  ---------------------------------------------------------------  --------
     Safety equip. respirators                                        $    500
---  ---------------------------------------------------------------  --------
 12  50'  1' air hoses   160@                                         $  1,920
---  ---------------------------------------------------------------  --------
 11  50'  2'  air hoses  175@                                         $  1,925
---  ---------------------------------------------------------------  --------
     Misc. caterpillar parts                                          $    500
---  ---------------------------------------------------------------  ========
     Total Green Building                                             $ 82,059
---  ---------------------------------------------------------------  ========
     Bits left are odd balls                                           -22,464
---  ---------------------------------------------------------------  --------
     50 @ new bits @ 25                                                 +1,250
---  ---------------------------------------------------------------  ========
     Total Green Building                                             $ 58,345
---  ---------------------------------------------------------------  ========
</TABLE>

<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}]]