The Company purchased all of the shares of Craigmont Holdings Ltd. (now Huldra Holdings Ltd.) on May 5, 2011. Huldra Holdings holds real property, mineral claims and mineral leases, referred to herein as the Mill Property, covering approximately 8,400 hectares, located in south central British Columbia, approximately 10 kilometers west of Merritt. The purpose of the acquisition was to construct a mill facility on the permitted site of the former copper producing mine to process the ore from the Treasure Mountain Mine, which is located approximately 100 km away.
The Company underwent the necessary engineering and environmental work to file a permit amendment application to the existing Mines Act Permit on October 31, 2011. On May 22, 2012 the Company received an Amended Permit approving construction and operation of a process plant at the Company’s mill site.