Richardson

The Richardson Project is located in the Richardson District, one of the most prospective and underexplored gold exploration districts in east-central Alaska. Our claims are located near the all-weather paved Richardson Highway, about 65 miles southeast of Fairbanks, Alaska, and just south of the nearby Trans-Alaska Pipeline corridor that provides access to our claims from the north.

The Richardson Project is an early-stage gold exploration project with past placer production and pilot-size lode gold production. Avalon Development Corporation, an independent certified geological consulting firm, has evaluated the project and completed their NI 43-101 Report in April 2011. Geophysical and geochemical signatures are consistent with intrusion-related gold systems (IRG). Nine highly prospective zones have been identified in previous exploration programs carried out by the Company and previous owners.

In June 2011, we signed a binding letter of intent with US Gold Corporation outlining the principal terms and conditions for a four-year Exploration Lease and Purchase Option Definitive Agreement with respect to Select’s Richardson Project. US Gold is a premier gold exploration and development company with significant financial resources and extensive minerals management experience, ranging from exploration stage projects through mine development and production. Under terms of the letter of intent, US Gold will acquire an exploration lease for Richardson, along with an exclusive option to purchase a 60% interest in the project and enter into a joint venture with Select for its development. The Definitive Agreement is expected to be finalized by July 1, 2011.

The following table sets forth the information regarding the acreage position of our Richardson, Alaska, claim block as of December 31, 2010: