Fifteen Acres of Mineral Rights Acquired!

We are happy to report that a thirty-year lease has been executed giving us access to fifteen acres of mineral rights.  The picture below will give you an idea of where the acreage is in relation to the Bates Hunter and Becker Bates. Because of the presence of historical veins throughout this new acquisition, we have designated it as the “Gregory Bates.” The Gregory Bates is made up of a group of separate mining claims, all of which are in our long term lease. A mining claim is a parcel of land that contains valuable mineral veins to which the holder of the claim has access and the right to mine.

The Gregory Bates are all historic claims without any commercial mining activity in recent history.  John Gregory discovered gold in this area in 1859.  It was then called Mountain City and the Bates was right in the middle of that City.  There were several other particularly rich diggings in that neighborhood including the “Foot and Simmons” and the “Peck and Thomas”.  Those are two of our claims. It appears that they were both mined to only about the 200 foot level before 1900.

The Simmons lode was referenced in the 1865 American Mining Gazette & Geological Magazine: “The Simmons lode although not as wide as Gregory appears more rich.”  Also, at that time Harvard Professor William Dalton, who was studying gold in Mountain City, described the veins and mines as comprising, “… a large and steady supply of ore may be obtained for a century to come…I know of no mines possessing better prospects.”

We are excited about the potential of these new properties.  By name they are Mosell, Next President, Simmons, Whiteside, Hope, Dump, Foot & Simmons, Branch, New Lode, Peck &Thomas, and Jean (as well as several without names).  In 1865 Professor Dalton predicted a hundred years’ worth of gold.  By 1900 work had stopped on all those claims.  If he was right, we’ve still got sixty-five years to go.  We intend to go!

Stay tuned for further announcements.

 RED: Bates Hunter Surface Rights BLUE: Bates Hunter Land and Mineral Rights Acquisition
GREEN: Becker Bates Mineral Rights Acquisition PINK: Gregory Bates Mineral Right Acquisition


This report may be deemed to contain “forward-looking” statements. We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and we are including this statement for the express purpose of availing ourselves of the protections of such safe harbor with respect to all of such forward-looking statements. Examples of forward-looking statements include, but are not limited to (i) projections of revenues, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure and other financial items, (ii) statements of plans and objectives of ours or our management or Board of Directors, including the introduction of new products or services, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (iii) statements of future economic performance and (iv) statements of assumptions underlying other statements and statements about us or our business.

Our ability to predict projected results or to predict the effect of any legislation or other pending events on our operating results is inherently uncertain. Therefore, we wish to caution each reader of the report to carefully consider specific factors, including competition for products, services and technology; the uncertainty of developing or obtaining rights to new products, services or technologies that will be accepted by the market; the effects of government regulations and other factors discussed herein because such factors in some cases have affected; and in the future (together with other factors) could affect, our ability to achieve our projected results and may cause actual results to differ materially from those expressed herein.

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