On February 8, 2013, Tangiers Capital Secured Convertible Promissory note dated August 31, 2012 matured and is now considered in default. As of February 22, 2013 Tangiers Capital Secured Convertible Promissory note dated February 23, 2012 matured and is now considered in default. As of March 6, 2013, Tangiers Capital Secured Convertible Promissory note dated March 7, 2012 matured and is now considered in default. Tangiers Capital has not issued any notices of Default or request for payment to the Company on any of the aforementioned Convertible Promissory Notes. As of the date of this filing Tangiers Capital has fully converted its note dated February 23, 2012. Tangiers Capital is in negotiations with the Company to convert its remaining Convertible Promissory Notes held by the Company.
