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May 06, 2015 4:23 PM ET

Metals and Mining

Company Overview of Goldrich Mining Company

Company Overview

Goldrich Mining Company, an exploration stage company, is engaged in the acquisition and exploration of mineral properties in the Americas. The company primarily explores for gold, as well as associated base and precious metal ores. It focuses on the Chandalar gold property that consists of patented and unpatented claims covering an area of approximately 22,858 acres located to the north of Fairbanks, Alaska. The company was formerly known as Little Squaw Gold Mining Company and changed its name to Goldrich Mining Company in May 2008. Goldrich Mining Company was founded in 1959 and is based in Spokane, Washington.

2607 Southeast Boulevard

Suite B211

Spokane, WA 99223

United States

Founded in 1959

2 Employees

Phone:

509-535-7367

Fax:

509-695-3289

Key Executives for Goldrich Mining Company

Chief Executive Officer, President, Director, Chairman of Operating Committee, Chairman of Financing Committee and Member of Corporate Governance & Nominating Committee
Age: 57
Total Annual Compensation: $180.0K
Chief Financial Officer, Principal Accounting Officer, Secretary and Treasurer
Age: 57
Total Annual Compensation: $57.7K
Compensation as of Fiscal Year 2014.

Goldrich Mining Company Key Developments

Goldrich Mining Company Auditor Raises 'Going Concern' Doubt

Goldrich Mining Company filed its 10-K on Apr 15, 2015 for the period ending Dec 31, 2014. In this report its auditor, DeCoria, Maichel & Teague P.S., gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Goldrich Mining Company announced delayed annual 10-K filing

On 03/31/2015, Goldrich Mining Company announced that they will be unable to file their next 10-K by the deadline required by the SEC.

Goldrich Mining Company Announces 2014 Review of Development and Pre Production Activities at Chandalar Gold Project

Goldrich Mining Company provided a review of development and pre-production activities for the 2014 season at its Chandalar gold project in Alaska. To date Goldrich NyacAu Placer, LLC, which is a 50/50 joint-venture between the Company and NyacAU, LLC, has invested over $17 million in equipment and infrastructure to prepare for commercial-scale gold mining on the Little Squaw placer deposit. Additionally, the Company is conducting hard-rock exploration on the 100% controlled lode gold targets that occur across the property. Investment into Chandalar by GNP during 2014 totaled approximately $3.6 million. All costs up to commercial production are required to be funded by NyacAU and will be paid back from cash flow from gold production. A new mining permit obtained in 2013 expanded the mine site area, including the area for a new airstrip, from approximately 10 to 350 acres. This provided an increased area for stockpiling topsoil, a larger settling pond system with greater capacity to ensure water quality and availability, and room to allow concurrent mine reclamation as the project advances. The new site will facilitate maximum and efficient production under the expanded mine plan. Major accomplishments during 2014 included completion of the plant relocation to a lower and broader part of the valley, construction of new water ponds, and build out of the new expanded plant. GNP successfully mobilized and installed a new grizzly feeder on site as well as support frames for additional gravel screens and gold recovery tables, which will be mounted next spring. Full capacity of the feeder is expected to be approximately 600 bank cubic yards per hour and will be realized as additional gravel screens and gold recovery tables are added in stages through 2016. Because of the substantial increase in plant capacity, GNP will transport seven additional forty-ton rock trucks over the winter trail to the mine site, bringing the fleet total to thirteen trucks in all. The winter trail is scheduled to begin in February. The total mine preparation expenditures to complete the mine are comparable to total costs, adjusted for inflation, as estimated in the 2009 preliminary assessment study for a similar mine plane. Plant and mine construction for the first stage of production are scheduled for completion in June 2015.

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