v2.4.0.6

Balance Sheets (Unaudited) (USD $) | Jun. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2010
--- | --- | --- | ---
ASSETS |  |  |
Cash | $ 32,212 | $ 629,857 | $ 520,852
Prepaids and deposit | 10,387 | 17,753 | 6,324
Advances to related party | 0 | 0 | 18,416
TOTAL CURRENT ASSETS | 42,599 | 647,610 | 545,592
LONG TERM ASSETS |  |  |
Mineral property | 2,670,500 | 2,670,500 | 2,670,500
Reclamation bond | 125,108 | 92,876 | 0
Equipment - net | 2,288 | 3,218 | 4,480
Website - net | 18,995 | 26,297 | 28,297
TOTAL LONG TERM ASSETS | 2,816,891 | 2,792,891 | 2,703,277
TOTAL ASSETS | 2,859,490 | 3,440,501 | 3,248,869
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
Accounts payable and accrued liabilities | 272,186 | 241,637 | 18,728
Promissory notes, current portion | 1,000,000 | 431,250 | 600,000
TOTAL CURRENT LIABILITIES | 1,272,186 | 672,887 | 618,728
LONG TERM LIABILITIES |  |  |
Promissory notes, net of current portion, net of debt discount of $280,992 ($777,442 - September 30, 2011; $1,105,729 - September 30, 2010) | 1,619,008 | 1,691,308 | 1,794,271
TOTAL LONG TERM LIABILITIES | 1,619,008 | 1,691,308 | 1,794,271
TOTAL LIABILITIES | 2,891,194 | 2,364,195 | 2,412,999
STOCKHOLDERS' EQUITY |  |  |
Capital stock Authorized 500,000,000 shares of common stock, $0.001 par value, Issued and outstanding 99,080,419 shares of common stock (92,952,085 September 30, 2011; 90,480,000 September 30, 2010) | 99,080 | 92,951 | 90,480
Additional paid in capital | 4,200,911 | 2,957,037 | 528,098
Stock payable | 46,916 | 867,500 | 1,106,410
Accumulated deficit during exploration stage | (4,378,611) | (2,841,182) | (889,118)
TOTAL STOCKHOLDERS' EQUITY | (31,704) | 1,076,306 | 835,870
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,859,490 | $ 3,440,501 | $ 3,248,869

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