		December 31, 2011
					Deferred
		Properties			Development			Total
New Jersey Mine
Grenfel/Coleman	$	365,000		$	239,792		$	604,792
Roughwater		25,500						25,500
Lost Eagle		5,000						5,000
Revett Niagara		42,500						42,500
Copper Camp		42,500						42,500
Less Accumulated
Amortization		(11,362	)		(9,355	)		(20,717	)
Total	$	469,138		$	230,437		$	699,575

		December 31, 2010
					Deferred
		Properties			Development			Total
New Jersey Mine
Grenfel/Coleman	$	365,000		$	239,792		$	604,792
Silver Strand		74,704			77,872			152,576
Roughwater		25,500						25,500
Lost Eagle		5,000						5,000
Revett Niagara		52,500						52,500
Copper Camp		52,500						52,500
Less Accumulated
Amortization		(11,743	)		(9,751	)		(21,494	)
Total	$	563,461		$	307,913		$	871,374

Grenfel/Coleman
The Company's Grenfel property is a leasehold interest covering the mineral rights of 68 acres located at the New Jersey Mine area of interest. The lease was acquired from Mine Systems Design (MSD) in 2001 in exchange for 1,000,000 shares of the Company’s common stock. The 1,000,000 shares were valued at $0.10 per share, which approximated the market price for the restricted common stock on the date of the lease. MSD is also a major shareholder of the Company and is owned by Fred Brackebusch and Grant Brackebusch, officers and directors of the Company. The lease has a fifteen year term, and includes a 3% net smelter return (NSR) royalty that will be paid to MSD on any production achieved from the property.

The Coleman property is located at the New Jersey Mine area of interest and consists of 62 acres of patented mining claims, mineral rights to 108 acres of fee land, and approximately 130 acres of unpatented mining claims. The Coleman property was acquired in October 2002, with the acquisition of Gold Run Gulch Mining Company. At December 31, 2011 and 2010 deferred development includes asset retirement costs of $6,341.

Silver Strand
The Silver Strand mine was sold in the fourth quarter of 2011 to Shoshone Silver/Gold Mines, Inc. for $120,000 cash paid at closing and $880,000 to be paid as a 20% share of net profits if and when they put the property in production. The Company recognized a loss on sale of this property of $128,666 for the year ended December 31, 2011. The reclamation bond held by the company for that property has been transferred to the purchaser.

Roughwater
The Silver Button claim is the remaining property of the ten claims acquired from Roughwater Mining Company. During 2005, the other nine Roughwater unpatented claims were dropped. In 2001, the Company purchased the property through the issuance of 255,000 shares of its common stock to Roughwater Mining Company. The shares were valued at $0.10 per share, for a total acquisition cost of $25,500.

Lost Eagle
Lost Eagle is a gold and silver exploration project consisting of five claims covering 100 acres of federal land administered by the U.S. Forest Service. In 2001, the Company issued 50,000 shares of stock to an individual to acquire the property. The shares were valued at $0.10 per share for a total acquisition cost of $5,000.

Revett Niagara/Copper Camp
The Company has a mining agreement for Revett Niagara and an exploration agreement with the option to convert to a mining agreement for Copper Camp with Revett Metals Associates (RMA) for 18 unpatented claims. In October of 2011, the Company signed an exploration agreement and option to purchase mining claims with Desert Copper USA Corporation (DUSA), a wholly-owned subsidiary of Desert Copper Corporation, a Canadian corporation. The agreement covers the Niagara project and the Copper Camp project. The agreement gives DUSA the exclusive right to purchase from NJMC the rights held by the Company to the properties at any time for a term of five years for the sum of $250,000 plus 3,500,000 shares of Desert Copper Corporation. At closing DUSA, made an initial payment of $42,800 and the agreement calls for an annual payment of $20,000 on each anniversary of the agreement during the option period. A minimum work expenditure of $250,000 is also called for by the agreement. DUSA is also required to maintain, in good standing, the underlying mining agreement with Revett Metals Associates (RMA).

Wisconsin Teddy
The Wisconsin Teddy is an exploration project that lies north of the New Jersey Mine and covers 83 acres of unpatented claims on federal land administered by the U.S. BLM. The project has no carrying value.