NARILNorth American Resources Inc Ltd (subsidiary of South American Minerals, Inc)
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It should be noted that only one dredge operated during the period from December 15th through January 15th due to Christmas holiday time taken by field employees of NARIL in Guyana.
In addition to the new plant, NARIL continues to operate 3 hydraulic suction dredges in the Konawaruk River area of Guyana.
NARIL is presently conducting further tests to confirm those results.
NARIL is currently engaged in a water based gold dredging operation in and along the Konawaruk River with 3 hydraulic suction dredges of which two are owed by a joint venture in which NARIL owns a 65% interest.
NASDAQ Bulletin Board:SAMM) announced today the completion of funding of the Cuyuni River Joint Venture between its wholly owned subsidiary NARIL and Cuyuni River No.
NARIL holds a 65% interest in a joint venture, which owns the 2 dredges currently in operation.
SAMM-NASDAQ Bulletin Board) announced today that its wholly owned Guyana subsidiary NARIL has entered into an exclusive mining agreement covering approximately 2,500 acres of terraces and former river beds located along the Tiger-Konawaruk Rivers in the Republic of Guyana, South America.
Eliminations Consolidated ASSETS Current Assets: Cash $ 127 $ 4,630 $ -- $ 4,757 Miscellaneous -- 15,061 -- 15,061 Receivable Loan Receivable - -- 9,750 -- 9,750 Related Parties Loan Receivable - 2,371,590 -- (2,371,590) -- NARIL Total Current Assets 2,371,717 29,441 (2,371,590) 29,568 Property and Equipment (Net of Accumulated Depreciation $740,870) -- 1,132,396 -- 1,132,396 Other Assets: Patented Mining Claims 5,800 -- -- 5,800 Total Assets $ 2,377,517 $ 1,161,837 $(2,371,590)$ 1,167,764 SOUTH AMERICAN MINERALS, INC.