Cautionary Note Regarding Forward Looking Statements

Certain statements made in this website (the “Site”) that are not historical are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, as amended. Such forward-looking statements concerning the Company’s anticipated results and developments in the Company’s operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. These statements include, but are not limited to, comments regarding:

  • the establishment and estimates of mineralization;
  • the grade of mineralization;
  • anticipated expenditures and costs in our operations;
  • planned exploration activities and the anticipated outcome of such exploration activities;
  • plans and anticipated timing for obtaining permits and licenses for our properties;
  • expected future financing and its anticipated outcome;
  • anticipated liquidity to meet expected operating costs and capital requirements;
  • our ability to obtain joint ventures partners and maintain working relationships with our current joint venture partners;
  • our ability to obtain financing to fund our estimated exploration expenditures and capital requirements; and
  • factors expected to impact our results of operations.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including, without limitation:

  • risks related to our limited operating history;
  • risks related to our history of losses and our expectation of continued losses;
  • risks related to our properties being in the exploration or development stage;
  • risks related our mineral operations being subject to government regulation;
  • risks related to future legislation and administrative changes to mining laws;
  • risks related to future legislation regarding climate change;
  • risks related to our ability to obtain additional capital or joint venture partners;
  • risks related to land reclamation requirements and costs;
  • risks related to mineral exploration and development activities being inherently dangerous;
  • risks related to our insurance coverage for operating risks;
  • risks related to cost increases for our exploration and development projects;
  • risks related to a shortage of equipment and supplies adversely affecting our ability to operate;
  • risks related to mineral estimates;
  • risks related to the fluctuation of prices for precious metals, such as gold and silver;
  • risks related to the competitive industry of mineral exploration;
  • risks related to our title and rights in our mineral properties and mill;
  • risks related to joint venture partners and our contractual obligations therewith;
  • risks related to potential conflicts of interest with our management;
  • risks related to our dependence on key management;
  • risks related to the New Jersey Mill operations, management, and milling capacity;
  • risks related to our business model;
  • risks related to evolving corporate governance standards for public companies; and
  • risks related to our shares of common stock.

This list is not exhaustive of the factors that may affect our forward-looking statements. Some of the important risks and uncertainties that could affect forward-looking statements are described further under the sections titled “Description of Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated, or expected. We caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

Some Statements in this Site may be considered historical fact. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. IDR disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.

Cautionary Note to Investors

The United States Securities and Exchange Commission permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this Site, such as “measured,” “indicated,” and “inferred resources” that the SEC guidelines strictly prohibit us from including in our filing with the SEC. U.S. investors are urged to consider closely the disclosures in our filings with the SEC. This Site contains information about adjacent properties on which we may have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This Site contains information about materials being processed in the Company’s mill which the Company may have no right to. Terms used to reference to the material being process in our mill such as “ore,” or “ore concentrate,” in no way indicate that the Company may have a provable or probable reserve under Industry Guide 7 or any ownership interest in the material being processed.

Cautionary Note Regarding Estimates of Measured, Indicated and Inferred Resources

Reporting requirements in the United States for disclosure of mineral properties are governed by the SEC and included in the SEC’s Securities Act Industry Guide 7, entitled “Description of Property by Issuers Engaged or to be Engaged in Significant Mining Operations” (Guide 7). Prior to consolidating ownership of the Golden Chest Mine in 2016, the Company’s Joint Venture Partner on the Golden Chest Mine was Marathon Gold, a “reporting issuer” under Canadian securities laws, which require estimates of mineral resources and reserves to be prepared in accordance with Canadian National Instrument 43-101 (NI 43-101). NI 43-101 requires all disclosure of estimates of potential mineral resources and reserves to be disclosed in accordance with its requirements. Some Canadian information has been included here as historical information that is publicly available in Canada.

Reporting requirements in the United States for disclosure of mineral properties under Guide 7 and the requirements in Canada under NI 43-101 standards are substantially different. This Site contains a summary of certain estimates of the Company, not of proven and probable reserves within the meaning of Guide 7, which requires the preparation of a “final” or “bankable” feasibility study demonstrating the economic feasibility of mining and processing the mineralization using the three-year historical average price for any reserve or cash flow analysis to designate reserves and that the primary environmental analysis or report be filed with the appropriate governmental authority. This Site also contains mineral resource and mineral reserve estimates estimated in accordance with the definitional standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in NI 43-101. The terms “measured resources”, “indicated resources,” and “inferred resources” are Canadian mining terms as defined in accordance with NI 43-101. These terms are not defined under Guide 7 and are not normally permitted to be used in reports and registration statements filed with the SEC in the United States, except where required to be disclosed by foreign law. The term “resource” does not equate to the term “reserve”. Under Guide 7, the material described herein as “indicated resources” and “measured resources” would be characterized as “mineralized material” and is permitted to be disclosed in tonnage and grade only, not ounces. The category of “inferred resources” is not recognized by Guide 7. Investors are cautioned not to assume that any part or all of the mineral deposits in such categories will ever be converted into proven or probable reserves. “Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of such a “resource” will ever be upgraded to a higher category or will ever be economically extracted. Investors are cautioned not to assume that all or any part of a “resource” exists or is economically or legally mineable. Investors are also especially cautioned that the mere fact that such resources may be referred to in ounces of silver and/or gold, rather than in tons of mineralization and grades of silver and/or gold estimated per ton, is not an indication that such material will ever result in mined ore which is processed into commercial silver or gold.


This Site and its Content are provided “as is” and “as available”. The Content is believed to be accurate when it was posted on this Site. However, the Content may not be accurate, complete or current. To the fullest extent permissible under applicable law, the Company disclaims all representation and warranties, whether express, implied or statutory (including without limitation any warranties of merchantability, fitness for a particular purpose, accuracy and non-infringement). The Company does not represent or warrant that functions contained in the Site will be uninterrupted or error-free, that defects will be corrected, or that the Site or the server that makes it available is free of viruses or other harmful components.

The information and content contained on the Site is prepared by the Company and is believed to be accurate, but has not been independently audited or verified and is provided for informational purposes only. This information and content is not to be construed as an offer or as a recommendation to buy or sell securities in any jurisdiction, nor should the information be relied on when making an investment decision. The Company does not warrant or make any representations regarding the use or the results of the use of any content in terms of completeness, correctness, accuracy, reliability, usefulness, timeliness, reliability or otherwise. The information and other content on the Site is not meant to modify, qualify, supplement or amend information disclosed by or on behalf of the Company under corporate, securities or other legislation in any jurisdiction, and should not be used to make investment decisions involving the Company’s securities.

Limitation of Liability

The Company and its affiliates, officers, directors, employees and representatives will not be liable to you or any other party for any damages of any kind including, without limitation, indirect, special, consequential or incidental damages, lost profits, business interruption or other damages arising directly or indirectly from your use of the Site or the content, including without limitation your use or reliance on any information or other content contained on the Site; any inaccuracy or omission in any information or other content contained on the Site; your use of or reliance on any third-party websites linked to the Site.

Stock Quotes

All stock price quotes and historical stock price data on the site are provided by third parties, are for informational purposes only, and are not intended for trading purposes. If you are contemplating trading in the Company’s securities, the Company strongly advises that you obtain independent professional advice (including independent legal and financial advice from qualified advisors) before making any investment decision. The Company makes no representation or warranty regarding the timeliness, accuracy or completeness of any stock price quotes or historical stock price data and has not taken any steps to verify the adequacy, timeliness, accuracy or completeness of the information on the Site.


The sites that are linked from the Site are not under the Company’s control, and the Company does not assume any responsibility or liability for any communications or materials available at or from those linked sites. The Company does not investigate, monitor or check those websites for accuracy or completeness. All links are provided for your convenience only; they are not an endorsement or referral by the Company.

Third Party Claims and Indemnification

You agree that you are responsible for your behavior in connection with the Site. The Company will not be liable for claims made against you, the Company, or the Company’s service providers, affiliates, agents, directors or employees arising out of your use of the Site. You hereby agree to indemnify, defend, and hold the Company, and the Company’s related companies, officers, directors, employees and agents, harmless from and against any claim or demand, including reasonable attorney fees and costs, made by any third party due to or arising, directly or indirectly, in whole or in part, out of your use of the Site. Notwithstanding the foregoing, the Company reserves the right to select its attorneys, and to control its defense in response to any such claim or demand.

Governing Law and Choice of Venue

You agree that all causes of action relating in any way to the Site (including but not limited to claims under contract, for torts or any other basis of liability) will be governed by and construed in accordance with the laws of the State of Idaho without regard to its conflicts or choice of law provisions. You also agree that the federal and state courts in Kootenai County, Idaho will have exclusive jurisdiction and will be the exclusive venue for all causes of action relating in any way to the Site.