Leeville Mine /East Ore Mine

Bullion’s interest in this property consists of a continuing 1% gross smelter return royalty in an agreement between Bullion and Newmont Mining.  The property is described as unpatented and patented mining claims generally located in Sections 1, 2, 10, 11, and 12 of Township 35 North, Range 50 East, M.D.B. & M., Lynn Mining District, Eureka County, Nevada.   There are currently two separate mines on this property, the Newmont Mining East Ore Body and the Leeville Mine.  Commencing in 2000, Newmont started mining activities on our East Ore Body.   Operations have commenced on the Leeville Mine, Newmont expects to be in full production of 3,200 tons a day in 2007.  Based upon current gold prices, we anticipate that this property could continue to generate substantial royalty income for the foreseeable future.