Mineral properties at September 30, 2018 and December 31, 2017 consisted of the following:

		September 30, 2018		December 31, 2017
New Jersey	$	248,289	$	248,289
McKinley		250,000		250,000
Golden Chest		1,667,092		1,649,142
Four Square		826,587		-
Butte Potosi		250,440		-
Toboggan		-		5,000
Less accumulated amortization		(22,496)		(16,475)
Total	$	3,219,912	$	2,135,956

On March 2, 2018, the Company entered into an agreement with J-J Farms LLC and Achievement Holdings LLC (“Four Square”) to purchase a group of patented and unpatented mining claims. Per the agreement, future payments for the mineral property are as follows:

· Shares of the Company’s common stock: 1,333,333 (paid upon closing), and 1,333,333 shares on September 30, 2019. These shares had a fair value of $466,666 based on the closing price of the Company’s stock on the date of the agreement.

· Cash payments: $100,000, $100,000, and $200,000 on September 30, 2018, 2019, and 2020, respectively, for a total of $400,000. The payments are non-interest bearing. Using an implied discount rate of 6.0%, the fair value of these future payments is $359,921 on the date of the agreement.

Total purchase price is $826,587. A mineral purchase property payable was recorded representing the future payments of shares of common stock and cash which total $633,333 less discount of $40,079 which is being amortized over the term of the payment obligation.

In the second quarter of 2018 the Company sold property including the Little Baldy and Toboggan to Hecla Mining Company for $3,000,000. This sale resulted in a net gain of $2,947,862 which was recognized in the second quarter of 2018.

In the second quarter of 2018, the Company purchased the Butte Potosi property near its Golden Chest mine for $250,440 and a 2% net smelter return on all ores mined and shipped from the property. This property consist of patented mining claims some of which include both the surface and mineral rights and some of which include only the mineral rights.