Coyote Resources (COYR)

Description:

Coyote Resources, Inc. was incorporated in the State of Nevada on October 31, 2006 as BLS Media, Inc. and conducted a business in video production and media relations. On August 12, 2010, it entered into a Debt Repayment Agreement with KMR, pursuant to which it acquired all of KMR's rights to the Tonopah Extension Mine and the Golden Trend Property (Asset Acquisition). As a result of the Asset Acquisition, it changed management, entered the mining business, and ceased all activity in its former business. On August 18, 2010, it changed its name to Coyote Resources, Inc. The Company's current business is comprised solely of the assets acquired from KMR. By virtue of that acquisition, its principal activity is the exploration and development of mineral properties which may include gold, silver, platinum, copper, zinc, and other mineral elements or compounds. It has not undergone bankruptcy, receivership, or any similar proceeding. The Company's business plan is to acquire mining properties for exploration and development with the intent to bring the projects to feasibility at which time it would either contract out the operations or joint venture the project to qualified interested parties. The Tonopah Extension Mine is a formerly-producing, silver-gold mine located in south-central Nevada, midway between Reno and Las Vegas. The Tonopah mining district is centered on the town of Tonopah in Nye and Esmeralda Counties near the intersection of two major highways, one north-south and the other east-west. Total land holdings comprise 958 acres of mineral rights and 368 acres of patented surface rights with additional holdings of 487 acres of patented surface rights for mining purposes within the Lambertucci Ranch holdings. The Golden Trend Property is an early stage exploration property located on the southwestern flank of the Cortez Mountains, approximately 70 miles southwest of Elko, Nevada in the Buckhorn mining district. A total of 111 contiguous, unpatented mining claims, located on land administered by the Bureau of Land Management comprise the property, totaling about 2230 acres. The property is located about 6 miles south-southeast of the portal of Barrick's Cortez Hills/Pediment mine complex, currently under construction. It is along the Cortez Trend and lies astride the Cortez Fault. It is committed to complying, and, to its knowledge, are in compliance, with all governmental and environmental regulations.