Mineral Properties and Equipment

6 Months Ended

Jun. 30, 2025

Mineral Properties and Equipment [Abstract]

NOTE 2 - MINERAL PROPERTIES AND EQUIPMENT

	Mineral properties			Equipment		Land improvements		Total
Cost
As of December 31, 2023	$	58,992,286		$	161,326	$	1,015,869	$	60,169,481
Change in ARO estimate		(523,613	)		0		0		(523,613	)
Additions		0			0		0		0
As of December 31, 2024		58,468,673			161,326		1,015,869		59,645,868
Change in ARO estimate		(307,014	)		0		0		(307,014	)
Additions		0			0		0		0
As of June 30, 2025	$	58,161,659		$	161,326	$	1,015,869	$	59,338,854

Accumulated depreciation
As of December 31, 2023	$	0		$	97,427	$	35,376	$	132,803
Depreciation expense		0			32,265		11,792		44,057
As of December 31, 2024		0			129,692		47,168		176,860
Depreciation expense		0			15,816		5,896		21,712
As of June 30, 2025	$	0		$	145,508	$	53,064	$	198,572

Net book value on June 30, 2025	$	58,161,659		$	15,818	$	962,805	$	59,140,282

Mineral properties consist of two main projects:

Bullfrog Gold Project, Nevada

On October 26, 2020, the Company completed its acquisition of Bullfrog Mines pursuant to the Membership Interest Purchase Agreement (the “MIPA”) among the Company, Homestake Mining Company of California (“Homestake”), and Lac Minerals (USA) LLC (“Lac Minerals” and together with Homestake, the “Barrick Parties”).

Reward Gold Project, Nevada

On June 13, 2022, the Company completed the acquisition of the outstanding membership interests (collectively, the “CR Interests”) of CR Reward LLC, a wholly owned subsidiary of Waterton (“CR Reward”), pursuant to a membership interest purchase agreement with Waterton Nevada Splitter, LLC (“Waterton”). CR Reward holds the Reward Project located seven miles from the Company’s Bullfrog Project in Nevada.

See Note 6 Commitments for discussion of other option agreements underlying mineral claims.