Sierra Resource Group Inc. (fka SIRG)

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Looks like some research was missed. SIRG is on second base and about to hit a home run with production scheduled for early 2013. SIRG bottomed several times this year when shares were at bargain basement prices of under .0015.

See you have watched SIRG for months, sorry you missed joining us.

SIRG - PROGRESS TO PRODUCTION - 2012

January 2, 2012, Travis Snider is hired by SIRG as VP of Operations at the Chloride Copper mine to begin the process of returning the mine to production. Paul C. Rizzo & Assoc. are hired to assist with the BLM permitting process, design the heap leach pond expansion and re-engineer the pit.

January 25, 2012, representatives of Rizzo Associates completed a site visit of the Chloride Copper Mine. The Rizzo Associates team consisted of Dr. Ananda (Andy) Chakrabarti, Senior Consultant, and K. Michael Cline, Principal Geologist. The purpose of the site visit was to provide an independent assessment of the plant, mill tailings, and general site conditions for supporting the Company in bringing the existing SX/EW Plant at the mine back into full operation. The Plant has been idle since 1996.

On February 21, 2012, Rizzo Associates issued a “Trip Letter Report to Assess Status of the Chloride Copper Mine” to the Company. According to the “Trip Letter Report: “The SX/EW Plant is in good condition; however, in need of minor refurbishment and the replacement of some supporting equipment, but most of the equipment can be used and the Plant can be brought back into working c ondition within a reasonable timeframe and limited expense. ” The Company has not currently defined “reasonable timeframe” or “limited expense.”
“We are extremely pleased to have the Rizzo team working to bring the mine back into production and beginning work to improve the accuracy of our reserve estimate,” says J. Rod Martin Chief Executive Officer of the Company.


On May 2, 2012, the Board of Directors of Sierra Resource Group Inc. by unanimous written consent appointed Barton R. Budman and Carlos F. Cardon to its Board of Directors.
Mr. Budman is a Certified Public Accountant licensed in the state of Florida. Since 2007, Mr. Budman has served as the Chief Financial & Operating Officer for a world renowned mega-yacht manufacturer, chartering company, and real estate investment & development organization, Broward Yacht & Marine / LPI Holdings, LLC with total annual revenue in excess of $135 million. Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
Mr. Cordon is the Commercial liaison, since 2011, for the development of telecommunications, mining and energy projects between the Chinese Government Foreign Development Agency and the Central American Business Community. Founder and Director of Tacontento International Corp, a chain of Mexican restaurants with more than 20 locations in five countries. Founder and Director, Los Ranchos, Guatemala, 1994-2011, a steak house chain, with more than a dozen location in 4 countries, including several locations in south Florida. Founder and Director, Yogen Fruz, Central America, Central American Franchisee, 1992-2011, Yogen Fruz is a publicly traded Canadian company and one of the largest frozen yogurt franchising companies in the world. Founder and Director, Mayan Republic Brand, Guatemala, 1985-1995, a merchandiser of hand loomed textile clothing exported to the US and Europe.

June 1, 2012 Sierra Resource Group, Inc. ( OTCQB: SIRG) announced today that it plans to launch its new website in June. Sierra engaged Miami based IT firm, Ingenium Solutions, LLC, to design and build the Company's new website, which will feature easy access to the latest Company news, descriptions of the Sierra's mining properties, resource reports and operations, and a separate section for investor information, including direct links to SEC filings and corporate governance policies. Ingenium is a well respected, total service IT firm that will be handling all IT work for Sierra in the future.

"We are very pleased with the design work of the firm, Ingenium Solutions, LLC, and the special attention its President Antonio Manueco gave to the project," said J. Rod Martin, CEO of Sierra.

Mr. Martin added: "Sierra intends to use its website http://www.sierragroupinc.com as a means of disclosing material information and for complying with its disclosure obligations under SEC Regulation FD. Such disclosures will be included on the Company's website under the headings 'Latest News'. Accordingly, investors should monitor such portions of the Company's website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts."

June 6, 2012 - SIRG hosted a Town Hall meeting in Chloride for the locals, BLM agents and government officials where he announced SIRG's plans to re-open the mine with production planned to start in Jan/Feb.

June 6, 2012, SIRG awarded a contract to Desert Construction of Kingman for the dig/load/haul operations at the Chloride Copper Min.

June 6, 2012, SIRG signed a Letter of Intent (“LOI”) with Upward Investments, LLC (“UI”) for the purchase of UI’s 90 acres of land adjacent to the Company’s existing claims. The Company would like to acquire UI’s property for the Company’s mining operations. Further representations and warranties shall be included in the to be drafted Definitive Agreement.



July 2, 2012 - When countersigned by each of the parties, this Letter of Intent outlines the general terms as of the 2nd day of July, 2012 for the agreement by and between SIERRA RESOURCE GROUP,INC., a Nevada Corporation, hereinafter referred to as (“SIRG”) and MEDINA PROPERTY GROUP, LLC, a limited liability company incorporated in Florida (hereinafter referred to as “MPG”)

It is intended that SIRG and MPG shall, subject to the terms set forth herein and in the “Definitive Agreement”, enter into the following terms regarding the Chloride Copper Mine, in Kingman Arizona:

WHEREAS, MPG is the owner of a 20% interest in The CHLORIDE COPPER MINE, a mining concession which lies approximately 24 km northwest of the City of Kingman, Arizona, and some 100 mi southeast of Las Vegas, or 172 mi northwest of Phoenix, Arizona. The geographic coordinates of the property are 35° 21’ N Latitude and 114° 10’W Longitude (T22 and 23 and R 18).

AND WHEREAS “SIRG” would like to increase its interest ownership of the Chloride Copper mine to 90% interest in the “Chloride Copper Mine”, for development,

NOW THEREFORE, the Parties hereto hereby agree as follows:

I. Upon execution of this Letter of Intent, MPG hereby agrees to:
1.
Provide a good faith non refundable deposit of $6,500 upon the signing of this agreement and on each 1 st of the month up to the closing date. SIRG shall not be responsible for any deposits incurred after the closing date.

2. The parties will diligently and in good faith negotiate a definitive agreement (the “Definitive Agreement”) incorporating the principal terms of the contemplated transaction as set forth herein and, in addition, such other terms and provisions of a more detailed nature as the parties may agree upon. In the Definitive Assignment Agreement, each of SIRG and MPG will make such representations and warranties are customary in transactions of this nature. All representations and warranties will survive the closing of the transactions contemplated herein and any and all investigations at any time made by or on behalf of the parties. The Definitive Agreement shall be completed and executed on or before October 1, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days.
3. Certify the Certificate of Ownership, titles and other required information.
4. Provide any and all documentation proving its compliance with the laws governing mining in Arizona and the United States of America.
II. TERMS OF AGREEMENT:
SIRG will pay the sum of $1,500,000 (ONE MILLION FIVE HUNDRED THOUSAND USD) in the following manner:

1. $1,500,000 at closing in the form of a wire transfer to MPG’s assignees or designees.
2. SIRG shall deliver a certificate(s) totaling 20,000,000 shares of Class A Common Stock of SIRG upon signing of a definitive purchase agreement to the assignees of MPG.
3. SIRG shall deliver warrants granting MPG or its assignees the right to purchase 20,000,000 shares of Class A Common Stock of SIRG at an exercise price of $0.27 per share with an expiration date of ten (10) years following the signing of a definitive purchase agreement.

4. MPG shall deliver Deed and Bill of Sale representing 50% of its interest in the Chloride Copper Mine.
July 25, 2012 Sierra Resource Group, Inc. engaged Marcum, LLC (“ Marcum ”) as its new independent registered public accountants , effective July 25, 2012. The decision to change accountants was recommended and approved by the Company’s board of directors. This action effectively releases Tarvaran, Askelson & Company, LLP (“ TAC ”) as the Company’s independent auditor.

8/15/2012 @ 4:05PM SIRG) (the "Company" or "Sierra") announced today that its Mine Plan of Operation has been reviewed and accepted by The Bureau of Land Management. This formal acceptance has allowed Sierra to submit its draft Environmental Assessment in order to comply with the National Environmental Protection Agency. "We're working closely with The Bureau of Land Management and the interactive process is positive," said J. Rod Martin, CEO of Sierra.

Aug 14, 2012 - On or about January 2012, the Depository Trust & Clearing Corporation (“DTC”) suspended post-trade settlement services (known as “Global Lock” or “Chill”) for our securities. Upon our inquiry, the compliance department at the DTC advised us that the Global Lock had been instituted due to their uncertainty about the valid issuance of shares of our company held in street name under their nominee Cede & Co. Our management subsequently provided documentation necessary to lift the Global Lock, and on August 14, 2012, the DTC advised us that they had resumed accepting deposits of the Company’s stock for depository and book-entry transfer services.

Aug. 21, 2012 -- Sierra Resource Group, Inc. announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.

"We looked at a host of well qualified companies to handle this very important permit process and feel confident in our selection of CDM Smith," said J. Rod Martin, CEO of Sierra.

CDM Smith will prepare all materials for permit transfer, will prepare the BADCT demonstrations for the new facilities as contemplated by Sierra for future operations, will prepare the Amendment (Modification) Application package and final application for submittal and will fully manage the project to completion including handling all meetings with ADEQ and Sierra.
"CDM Smith is well versed in this type of permitting and its inner team has a wealth of experience in dealing with ADEQ," said J. Rod Martin, Chief Executive Officer of Sierra.

8/23/2012 SIRG announced today that the Depository Trust & Clearing Corporation has advised Sierra that the Depository Trust Company has determined to lift the Deposit Chill on the Company's stock and has resumed accepting deposits of the Company's stock for depository and book-entry transfer services. "We are pleased with this determination and know our shareholders will be too," said J. Rod Martin , CEO of Sierra.