NOTE 3 - Acquisition of New Fork Uranium Corporation On March 14, 2012, the Company entered into a Stock Purchase Agreement whereby the shareholders of New Fork Uranium Corporation ( New Fork ) sold all of the issued and outstanding shares of New Fork to the Company in exchange for the issuance to the shareholders of an aggregate of 50,000,000 shares of common stock, at $0.001 par value, of the Company. The 50,000,000 shares of common stock of the Company issued pursuant to the Stock Purchase Agreement were issued pro rata to all of the shareholders of New Fork on the basis of 0.877192983 shares of the Company s common stock for each outstanding New Fork share of common stock issued and outstanding on the effective date of the Stock Purchase Agreement. New Fork holds 521 mining claims in the areas adjacent to the Company s Cyclone Rim uranium exploration properties in Sweetwater County, Wyoming. New Fork s assets are comprised of 521 federal mining claims covering about 10,000 acres of BLM land. These claims cover a large portion of the sinuous, uranium bearing roll-front that exists in this part of south-central Wyoming. The Company s existing Cyclone Rim claims cover a 28 mile extent of the western portion of this same roll-front trend. This area of Sweetwater County is a historical uranium-mining district that is seeing a resurgence of development activity. The Company now holds significant acreage on key uranium ground in the Red Desert. The transaction described above relating to the acquisition of New Fork was accounted for as a business combination. A summary of the transaction is presented below: Fair value of net tangible assets acquired: Cash $ 297,564 Prepaid expenses and other assets 89,958 Accounts payable (69,030) Acquired net assets (100%) 318,523 Purchase Price: Issuance of 50,000,000 shares of stock $2 ,000,000 Total $2,000,000 Mineral rights $1,684,477 Subsequent to the acquisition of New Fork, the Company evaluated its new holdings, and determined that the carrying value of the mineral rights e