Costs Incurred

Costs to acquire and explore our Tetlin Lease and other properties were as follows:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2016		2015		2016		2015
Exploration costs, claim rentals, and minimum royalties	$	—	$	180,791	$	14,425	475,527
Total costs incurred	$	—	$	180,791	$	14,425	$	475,527

The Tetlin Lease had an initial ten year term beginning July 2008 which was extended for an additional ten years to July 15, 2028, or so long as the Company initiates and continues conducting mining operations on the Tetlin Lease. The current year expense relates to the amortization of claim rental payments with August 2015 expirations. The Joint Venture Company is responsible for making all future claim rental and minimum royalty payments.