Coeur Program
© Idaho North Resources 2011-2017

Nevada Exploration with Coeur Mining

“In an effort to grow our pipeline of early-stage exploration, and eventually development projects,  this Agreement allows us more eyes and boots on the ground, and more exposure to eventual  discovery in the mineral-rich Central Nevada area. I have confidence in Idaho North’s knowledge of this part of the world – they have a strong track record for discovery.” Hans Rasmussen, Vice President - Exploration, Coeur Mining. In October 2014, IDAH signed a definitive Exploration Program Agreement with Coeur Mining Inc. The Agreement calls for Coeur to fund a Central Nevada Exploration Program within a specified Area of Interest for a three- year period. During the Agreement period, Coeur will have the right to select target properties identified and acquired or appropriated by IDAH, and earn up to an 80-percent interest in the target properties by meeting certain minimum investment and other requirements. Prior to selection of any target properties, Coeur will pay certain consulting and field-related costs associated with the Program, along with a 10-percent administrative fee to IDAH.    Through Coeur’s funding of the Program, the Company’s central Nevada exploration efforts provide shareholders exposure to potential discovery in a world-class mining camp.  IDAH will operate the Program under the direction of Tom Callicrate, Consulting Geologist to IDAH and lead member of its Technical Advisory Committee. As program operator, the Company will conduct various exploration activities to assist with identifying and acquiring or appropriating potential precious metals properties within the Area of Interest. These properties will be presented to Coeur for review for potential development. If Coeur accepts a proposed property, it may acquire a 60-percent interest in that property by investing a total of $2-million over a 3-year period and completing a NI 43-101 compliant Technical Report. Upon Coeur completing its acquisition of the 60-percent interest, it may acquire an additional 20-percent interest by investing a minimum of $2-million per year until completion of a Preliminary Economic Analysis (PEA). A joint venture would then be formed between Coeur and IDAH, the guidelines for which are spelled out in the Agreement.  Coeur is the largest U.S.-based primary silver producer with 2015 production forecast at 14.8 to 16.0 million ounces of silver and 294,000 to 323,000 ounces of gold. Coeur has exploration and mining projects throughout the Americas, including its longest-running operation, the Rochester silver-gold mine near Lovelock, Nevada.  Coeur owns 10.07 percent of IDAH.