Eastern Resources

eastern resources, inc. (ticker: esri) is a regional mining company that operates, develops, and explores north american-based mining properties with significant proven reserves of precious metals and base metals. our core area of current operations is within the state of montana. we began assembling our portfolio with the acquisition of elkhorn goldfields in 2000. in 2006, we acquired 50% jv interest in montana tunnels; the remaining 50% was purchased in early 2010. our acquisitions occurred when gold was trading at historically low prices. we believe that elkhorn goldfields and montana tunnels both have exploration potential outside of their currently defined resources (estimated 2.5m to 3.5m oz.). as further resources are proven, the amount of production and mine life are expected to increase. we also plan to acquire and develop nearby projects that have been identified through management’s local knowledge. in terms of the combined size, grade, exploration potential, production p