International Gold Specialties Inc. A Nevada Corporation

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Formation of IGS

International Gold Specialties was formed in the late Seventies to profit from the substantial rise in the price of gold and silver taking place at that time. IGS became General Partner in the Rainbow’s End Mining Partnership, which held the Iron Tail Mine in 1979. The Company bought out the limited partners of the Rainbow’s End Partnership in 1981, and began several other developments to bring the property into production in the early eighties. During that period the company bought out the remaining partners/shareholders. With the Iron Tail Mine fully deeded over to IGS in 1984; it has stood as the company’s principal asset since that time. There have been no disputes, legal proceedings, liens, encumbrances or governmental interference since acquiring the property. From 1981-85, IGS also secured control of six additional, substantial mining properties in California and Nevada.

When the portal was open there was a fully operating mill site of high grade select mine production. The other five properties were then sold with the most valuable mine, “The Iron Tail” in the Indian Hill District, remaining as the sole property held by the company because of the substantial high grade gold ore encountered at the site. Over the next twenty years the company acquired most of the adjacent mining interests and consolidated the Iron Tail to encompass much of the valuable mineral property in the immediate area around the original mine. This has been called the Indian Hill Mining District. The current ore body on the Indian Hill prospect was located during the drilling and exploration program which began in 1997. In the past five years there has been some claim expansion, but focus has been on creating a flow chart for environmentally sound mining using the latest production science and engineering with the best specialists in the country.

The high grade mine (Iron Tail) was in active production as an underground mine from 1979-1984. During that period a very substantial series of pay veins were discovered and worked. The material surrounding the veins was a weathered diorite which meant that support for the tunnels was needed. In some cases these structures are in need of repair and the tunnels in question have been blocked, caved or flooded for safety.

IGS has maintained a pro-active relationship with the Bureau of Land Management and the Forestry Service in Sierra County for the entire period it has owned the mineral rights to the consolidated Mines. (Iron Tail, Scalan, Lucky Dog, Nancy M, Indian Hill, Dan’s Cut , Sentinel, and Caine’s Lode inclusive) Prior to the drilling program which began in 1997, the company placed a bond for reclamation with the Forestry Service which remains in place. It has enjoyed a +5 rating with the agencies and has worked closely on the maintenance of roads, drainage, fire management and reclamation with regard to the drilling and exploration of the mine and the maintenance of the entire district under its control. This includes an excellent network of roads, drainage, drill pads, mine sites, mill sites and excellent fire, erosion and security systems for such a large consolidated property.

The Indian Hill mining district is currently controlled by the Oxenhandler family, the founders of IGS. The family has managed and self-financed all of the acquisition and development work on the property for the last few decades. There has been very little third party investment, and no syndication loans or public offerings. During this period the company used the resources of Harrison Western, Hazen Research, The Colorado School of Mines and others to implement the scoping study on the district (included herein). For cost control these resources have been utilized to determine both the mining plan and the process engineering for the recovery and commercial milling process. All of these sub-contractors will be utilized on a commercial basis, which allows for a very substantial resource management potential on the property.

Harrison Western are one of the leading firms in the world for tunnel and mine engineering; having been involved in tens of thousands of feet of successful underground tunnels in major projects around the world. IGS has had benefit of a former president of Harrison Western’s expertise in the mining plan and the current company managers are available during production.

Hazen Research provides metallurgical consulting to many of the largest mining operations in the country. Based in Golden, Colorado, they are currently completing the most recent analysis for optimized extraction. In this regard, a commercial mill process will be piloted and fully tested prior to a large scale budget expenditure for a site based mill process.

 

 

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