Replies to post #22024 on Sierra Resource Group Inc. (fka SIRG)

[Actuate]

a. The Company has not made partial payments on the May Note upon the receipt to the Company of cash receipts as specified by Section 1(c) of the May Note. Specifically, the Company did not pay to Grand View 10% of the gross proceeds from the following borrowings as referenced in the Company’s most recent Form 10-Q:

i. The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with a maturity date of April 19, 2013.

ii. The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with a maturity date of January 31, 2013.

iii. The Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. on October 5, 2012 in the amount of $32,500. The note has an interest rate of 8% with a maturity date of July 10, 2013.

b. The Company has not filed a deed of trust securing the mining claim in the county of Arizona where the mining claims of the Company exist.

c. The Company has allowed certain property to be sold for scrap metal for consideration of $3,710.

d. The Company has not retired the Tangiers promissory note dated October 14, 2011 by July 14, 2012. According to page 13 of the Company’s most recent Form 10-Q, as of September 30, 2012, $15,900 was still outstanding.

e. The Company has not amended its articles of incorporation to increase the authorized Class A Common Shares (the “Common Shares”) to one billion shares.

f. The Company has not paid principal and interest on the May Note before, at or after the Maturity Date for the May Note on November 1, 2012.

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9021095