Dakota Territory Resource Corp. (the “Company”) was incorporated
in the State of Nevada on February 6, 2002. In July 2006, the Company changed
its name from Lakefield Ventures, Inc. to Urex Energy Corp. On July 22, 2010
the Company changed its name from Urex Energy Corp to Mustang Geothermal Corp
reflecting a change in business expanding into geothermal energy. In September
2012, the Company changed its name from Mustang Geothermal Corp to Dakota Territory
Resource Corp, reflecting a change in business focused on the acquisition, exploration
and development of gold properties and effected a 10:1 reverse common stock
split.
The Company has been in the exploration stage since its formation and has not
realized any revenues from operations. The Company’s initial business
plans focused on uranium mining and subsequently expanded to include the acquisition
and exploration of geothermal properties. In September 2012, the Company focused
entirely on the acquisition, exploration and development of gold properties
located in the Black Hills of South Dakota and began to divest its uranium and
geothermal projects that, due to changing market conditions, the Company had
not been able to finance.
The Company’s previous uranium initiatives included:
In 2004, its ownership of mineral rights to six mineral claims called the “Kayla
Property” located in Levy Township, Val D’or Mining District, Quebec,
Canada;
In 2005, its acquisition of rights under an option agreement between International
Mineral Resources, Ltd., a company organized in the British Virgin Islands,
and United Energy Metals S.A., an Argentina company, that allowed us to acquire
99.8% of the equity in United Energy Metals S.A., who held a 100% interest in
a property position of 170,000 hectares adjacent to the Cerro Solo Uranium deposit
in Argentina; and
In 2009, ownership of the La Jara Mesa uranium property in New Mexico.
The Company’s previous geothermal initiatives included:
In 2010, its purchase of three geothermal leases totaling 9,800 acres located
in the State of Nevada;
In 2010, its acquisition of 99.9% of the issued and outstanding shares of Andean
Geothermic Energy SAC. Andean Geothermic Energy SAC controls four geothermal
exploration applications consisting of 3,600 hectares (8,896 acres) in the provinces
of Puno and Arequipa, Peru;
In 2011, its purchase of three geothermal leases totaling 1,409 acres located
in the State of Nevada; and
In 2011, its acquisition of three additional geothermal leases in the departments
of Puno and Cusco, Peru totaling approximately 2700 hectares (6,672 acres).
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