SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

Amendment #3

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES

EXCHANGE ACT OF 1934

For the fiscal year ended November 30, 2014

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission file number: 000-50738

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AMERICAN CORDILLERA MINING CORPORATION

(Exact name of registrant as specified in its charter)


Nevada	91-1959986
(State or other jurisdiction	(IRS Employer
of incorporation or organization)	Identification No.)

1314 S. Grand Blvd, Ste. 2-250, Spokane, WA 99202

(Address of principal executive offices)

(509) 671-9401

(Registrant’s telephone number)

______________________________________

(Former name, former address and former fiscal year, if changed since last report)

Securities registered under Section 12(b) of the Act: None

Securities registered under Section 12(g) of the Act:

Common Stock, par value $.001

(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

YES [ ] NO [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

YES [ ] NO [X]

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES [X] NO [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES [ ] NO [X]

Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K (§ 229.405) is not contained in this herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “accelerated filer,” “larger accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer [ ] Accelerated filer [ ] Non- accelerated filer [ ] Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

[ ] Yes [X] No

The aggregate market value of the Registrant's Common Stock held by non-affiliates of the Registrant out of 89,482,679 shares outstanding (73,684,761 shares held by non-affiliates) as of the last business day of the registrant's most recently completed second fiscal quarter ended May 31, 2014 was approximately $4,421,086 based upon $0.06 per share, the last price at which the stock was issued. The shares of our company are currently listed on the OTC Bulletin Board.

The Registrant had 89,882,679 shares of Common Stock outstanding as of March 31, 2015.

DOCUMENTS INCORPORATED BY REFERENCE

None

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EXPLANATORY NOTE

This Amendment No. 3 to the Registrant's Annual Report on Form 10-K for the year ended November 30, 2014 is to remove the reference to potential quantities of materials, in ITEM 2. PROPERTIES, under the section heading "Golden Plum Claims - North Moccasin Property".

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ITEM 2. PROPERTIES

The address of our principal office is: 1314 S. Grand Boulevard, Suite 2 - 250, Spokane, WA 99202. An unaffiliated party is providing approximately 1,250 square feet of office space on a month-to-month basis at the rate of $300 per month. The subleased space is currently fully utilized by our operation.

Management believes that this space is currently suitable for our needs for an additional twelve (12) months.

Our officers own the computer equipment that we utilize.

Mineral Properties

AMCOR intends to conduct exploration for gold, silver and base metal deposits and mineral targets in; 1) the Coeur d’Alene Mining District of northern Idaho; 2) in the Quartz Creek Mining District of western Montana; 3) in the Connor Creek Mining District of eastern Oregon; 4) in the Kootenai ARC district in Idaho; 5) the Judith-Moccasin Mining District in central Montana; and 6) the Toroda Creek -Wauconda and Republic Mining Districts in northern Washington. Our strategy is to explore for gold, silver and base metal deposits primarily in the Coeur d’ Alene Mining District, a world class mining district and other known districts, by forming joint ventures with other companies who will potentially earn their interest in the property by contributing cash. Revival of operations in old districts can be easily justified on the basis of increases in prices of metals in the last decade.

Several important corporate priorities set by AMCOR management are expressed by the choice of these abandoned mines, exploration projects, and prospects. There are certain priorities that may contribute to the strategic advantages to AMCOR’s operations, as well as advantages in efficiencies, economy, and cost savings. These priorities are: (1) the properties be valuable for gold or silver for the purpose of leveraging future returns from the current prices of these metals; additional metal values also known to be present in several of these properties would represent added value; (2) emphasize work in select mining districts in order to leverage operational experiences, similar geology and knowledge bases peculiar within a district; (3) assemble operations within hauling distance to operating custom mills in view of establishing future toll milling agreements; and (4) operate in areas within reasonable commute distance to AMCOR’s base of operations. Tables 1 and 1A on the following page summarize these operational and knowledge advantages. The emphasis for locating of projects in known mining districts is important because other mining prospects within the same districts are also available from time to time for evaluation and/or acquisition.

Table – Characteristics of and operational or knowledge advantages listed for our projects


Name	Mining District	Gold	Silver	Copper-Lead-Zinc	Number of Targets	Type Mine	Custom Mill Nearby
Quartz Creek	Quartz Cr.	√			9 to 13	SU, placer	√
Bodie/Toroda	Republic	√	√		3	SU, UG	√
Monitor-Richmond-Copper Age	Coeur d’Alene	√	√	√	1	UG	√
Vienna (FG)	Coeur d’Alene		√	√	1	UG	√
Bayhorse	Connor Creek		√	√	1+	SU, UG	√
Golden Plum/North Moccasin	Judith	√	√	√	3	UG	√

SU-surface UG-underground

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Table 1A


Name	Past Producer	Resource Known	Proximity to other Mines	AMCOR Management Past Experience	Large Database Available	Private landholdings available	Pre-1955 unpatented mining claims
Quartz Creek	√		√	√	√		√
Trout Creek	√		√	√	√		√
Bodie/Toroda	√	√	√	√	√	√
Monitor-Richmond-Copper Age	√	√	√	√	√		√
Vienna (FG)	√	√	√	√	√		√
Bayhorse	√	√		√	√	√	√
Golden Plum/North Moccasin	√	√	√	√	√		√


Claims AMCOR has interest in	Associated BLM Claim Numbers, Mineral Survey Number (if patented), State Lease Number	Annual Fee Paid	Good Standing Status
Quartz Creek (37 unpatented claims)	MMC228153 to MMC228179; MMC228143 to MMC228152.	$5,735 paid by AMCOR on January 24, 2015	Current
Trout Creek (35 unpatented claims)	MMC219744 to MMC219753; MMC225628; MMC225631 to MMC225634; MMC225636 to MMC225644; MMC225647 to MMC225651; MMC225653; MMC225657 to MMC225661.	$5,425 paid by AMCOR on January 24, 2015	Current
Bodie/Toroda (27 unpatented claims, 3 DNR leases)	ORMC169761 to ORMC169787 WA State DNR Leases: 65-088517, 65-087428, 65-087427	$3,780 paid by Kinross on June 23, 2014	Current
Monitor-Richmond- Copper Age (20+85 unpatented claims)	IMC211589, to IMC211608; IMC212542 to IMC212626	$16,275 paid by Transatlantic Mining on September 2, 2014	Current
Vienna (FG) (18 unpatented claims)	IMC211632 to IMC211649	$2,790 paid by AMCOR on September 2, 2014	Current
Bayhorse (18 unpatented claims, 3 patented)	ORMC168271; ORMC168272; ORMC168274; ORMC168275; ORMC168277; ORMC168279; ORMC168281; ORMC168283; ORMC168284; ORMC168286; ORMC171321 TO ORMC171328. M.S. 133, M.S. 300, M.S. 301	$2,790 paid by Bayhorse Silver on July 22, 2014	Current
Golden Plum/ North Moccasin (6 unpatented claims)	MMC226532 to MMC226537	$930 paid by AMCOR on September 3, 2014	Current

Monitor - Richmond – Copper Age Mines

AMCOR holds a leasehold interest in this property pursuant to a lease with NALLC dated June 27, 2012. We have an Option and Joint Venture Agreement with Transatlantic Mining Corp as of February 5, 2013. See Obligations Under Material Contracts section in Item 2 below.

History and Previous Exploration/Development Efforts

The Monitor-Richmond-Copper Age Mines are adjacent properties and are all past producers of copper with minor amounts of gold and silver. These 20 unpatented lode mining claims cover nearly 400 acres and are located along the eastern edge of the Coeur d’Alene Mining District which has produced over 1.1 billion ounces of silver, 8.5 million tons of zinc and substantial amounts of lead, copper and gold. (Brian G. White, Mining Engineering July-Dec. Vol. 50, August 1998) The Monitor was discovered in 1891 and mined until a fire in 1910 destroyed the above ground facilities of all three mines. The Monitor claims lay dormant until 1940 when

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they were purchased by Day Mines in a tax sale. Hecla Mining Company acquired Day Mines in the 1980’s and traded the patented claims for federal land around their Lucky Friday Mine. The claim patents were then vacated and the area reverted to public domain. Subsequently Northern Adventures LLC located the 20 unpatented mining claims and leased them to NAI, who subsequently assigned its lease interest to AMCOR.

Our Option and Joint Venture partner, TMC, has filed an additional 85 Monitor claims and Northern Adventures, LLC, is the claimant on those. AMCOR has interest in those claims through its Mining Lease with Northern Adventures, Inc.

Geology

The Monitor-Richmond-Copper Age Mines have been developed within a complex system of mineralized veins and intrusives within the favorable Precambrian Belt Super group Wallace and St. Regis Formations. This development includes a 700 foot shaft and 5 drifts running east and west along the vein at 100 feet intervals. Over 700 feet of drifting was accomplished on four levels where the vein ranged from 10 feet to 15 feet. The crosscut to the vein on the 700 level did not intersect the hanging wall of the vein and this indicates a potentially greater vein width than reported in the upper levels. This widening of the vein is typical of the other vein systems in the Coeur d’Alene district.

Ore mined and milled from the various levels between 1881 and 1910 produced 1,500 tons of concentrate containing 15% copper and 0.247 oz/ton gold and sold to the Tacoma Smelter. Recent geochemical analysis surveys on the Monitor Mine property found elevated levels of cobalt and nickel. The Monitor vein has only been preliminarily tested by the early mining efforts. The vein outcrop can be traced for approximately 2,000 feet on the surface. Drifts at 100 foot intervals to 400 feet level of the 700 foot shaft produced ore from only 110 feet to 300 feet along the drifts. In 1920’s a 5,000 foot crosscut was driven to intersect the Monitor vein at the 1700 foot level. Based upon the ore produced prior to 1910, the areas mined to produce that ore, doubling at depth at the 1920 crosscut elevation and when compared to the geological features of other mines in the Coeur d’Alene District there exists a possibility of commercial mineralization. The Monitor vein is along the Placer Creek Fault, a regional structure that contains the Coeur, Galena and Caladay mines. These mines are currently operating approximately four miles west of the Monitor along the same regional structure.

Bayhorse Mine

AMCOR holds a leasehold interest in this property pursuant to a lease with Bayhorse Silver Mine, LLC dated June 26, 2102. AMCOR, as of December 4, 2013, has an Option and Joint Venture Agreement on the property with Bayhorse Silver Inc. See Obligations Under Material Contracts section below.

History and Previous Exploration/Development Efforts

The Bayhorse Silver Mine composed of 21 unpatented and three patented claims operated from 1920-1925. We have an Option and Join Venture Agreement with Bayhorse Silver Inc. on this property and the claims have been reduced from 21 to 18. Underground development consisted of a 500 foot drift that was driven on a mineralized structure. The drift followed the vein up approximately 80 feet and a large stope was excavated. In 1983, Cash Industries ran a drift on the same level as the stope, 485 feet in to the excavated area. Sunshine Mining Company and Homestake Mining Company conducted exploration on the property until from 1980-1984. The property has been dormant since 1984.

Production records show dry ore shipments to both the Bunker Hill Smelter and the Tacoma Smelter. Tacoma reported a total of 203 tons of ore received between June 1920-April 1924, with average returns of 33.8 oz/ton silver (Ag) and 1.02% copper (Cu). The Bunker Hill Smelter handled the bulk of ore shipped from the Bayhorse Mine from 1920-1925; 4,692 and 1,595 tons of ore were shipped to Bunker Hill, with 138,710.97 ounces of silver recovered, showing an average of 29.56 oz/ton. Ore shipment records from 1984 showed 5,088 tons of ore shipped, but no average grades were recorded.

Geology

The Bayhorse Silver Mine is situated on a mineralized portion of a heavily faulted series of volcanic rocks. The lithologies range from coarse grain andesite to fine grain rhyolite with various intrusives. The mineralized zone occurs in both the highly silicified portion of the andesitic member and in small fractures in the hard, flinty rhyolite. The ore body is generally tabular to trough-like in shape and is transversed by veinlets and stringers of an arsenic rich variety of tetrahedrite, tennantite. There is silver, lead and zinc associated with and combined with copper, arsenic, and vanadium rich minerals, rather than the more common association with galena and sphalerite. The body of mineralization is bounded by fine grained fault gouge on all four sides, as well as the top and bottom, indicating that the ore exists as a structurally bound segment of an original body of rock. It has not been determined if the ore existed pre faulting and is present in the continuation of the lithologic units, however, the degree of impermeability of the fault gouge is such that it would seem to preclude secondary, post movement mineralization.

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The distribution of mineralization on the Bayhorse Silver Mine is controlled by three main faults, along with numerous secondary planes of movement. Earlier reports indicated that the northern extent of the mineralized zone terminates against a thick, gouge zone extending to a maximum of 5 feet.

Proposed Future Exploration – Phase I

Phase I is a recommended program that would consist of implementing an orientation survey, for soil and rock geochemistry and geophysics. To determine viable methodology of operations, geologic mapping and sample geochemistry under the recommended exploration plan would be carried out over the entire property utilizing early stage core drilling. This proposed work is designed to accurately assess the property to determine if there exists the possibility of a massive sulfide deposit and to determine if further work as outlined in Phase II is necessary and determine which techniques of data acquisition are appropriate for the Bayhorse Property. An attempt will be undertaken to reopen the underground working for purposes of examination, mapping and sampling.

Orientation survey over surface of known mineralized zone and outcrops – Phase II

The proposed orientation survey would establish a working grid system, which will allow for accurate data acquisition, as well as provide the initial geochemical and geophysical data to determine which methodology is applicable; a) mapping; b) geochemical surveys; c) geophysical evaluation; d) detailed geologic mapping on surface and open underground rock units and structure including additional rock geochemistry testing; f) Soil geochemical testing of property; g) grid soil sample and assay 1000 soil samples total distance of 26 line miles. Predicated on these results, the decision will be made with regard to a comprehensive diamond drilling program.

Golden Plum Claims - North Moccasin Property

AMCOR owns these mining properties directly, with no leasehold obligations.

History and Previous Exploration/Development Efforts

The Golden Plum property is located in the North Moccasin Mountains, Fergus County, Montana, near Lewistown. The property consists of six unpatented claims.

1893 to 1943

The Central Montana Alkaline Province received a fair amount of gold exploration in the 1890s, with the first discovery in the North Moccasins about 1893. Little production from the prospects in the mountain range was completed till the early 1900s, when vat leaching cyanide was introduced into the milling circuits. The mining and milling was restricted to the east flank of the mountain in the Kendall Mining District. Total production from the district between 1893 and 1922 reportedly reached 450,000 ounces of gold and 46,500 ounces of silver. There was only intermittent production till 1943 yet the Kendall District was overwhelmingly the largest producer in all of Fergus County. These values are attributed to mining along the strike and down dip eastward along the Madison Limestone and syenite porphyry contact. This zone of economic contact mineralization included the Kendall, Barnes King, Muleshoe and Horseshoe mines that are located along a strike length of 9,000 feet.

1960 to 1993

A list of companies that evaluated the perimeter of the North Moccasin gold mines along the intrusive and limestone contact includes:

-Duval Corporation – 1968;

-Golden Cycle – 1971;

-GeoSurveys – 1972 – 1976;

-Coastal Mining Company – 1976 – 1977;

-Gold Fields – 1979 – 1982; and

-Canyon Resources and Kendall Mining began a JV mining program on the old Judith Gold property in 1987 and continued till 1997.

Mine production came from the gold deposits in the karst sinkhole system of the Kendall-type gold deposits that contained Tertiary hydrothermal brecciation introduced along pre-existing fracture zones. The introduction of the Merrill-Crowe processing plant technology greatly improved the recovery of the micron size gold. It should be noted here that no native gold was found within the deposits mined.

The Tertiary gold mineralization in the sub-alkalic to alkalic intrusive complex exposed in the core area of the North Moccasin Mountains uplift resulted in an estimated $3.5 million dollars (2012 dollars) being expended on gold exploration between 1979 to 1993. This period of activity was completed by:

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-Rexcon Incorporated 1979 -1980;

-H&R Properties 1981 – 1982 (Hecla/Rexcon JV);

-Chevron 1983;

-Utah International 1984 -1985;

-Cominco American Resources 1987 – 1989; and

-CR Kendall/Cominco American Joint Venture 1989 – 1993

All of the exploration in the uplifted mountain core was oriented toward establishing bulk minable gold deposits. Primary targets were a number of crosscutting volcanic vents identified within the intrusive core. AMCOR’s interest in the North Moccasins in 2012 is due to the increased price of gold and silver, combined with the availability of historical technical and scientific data avail to us.

In 1981, the property was drilled on a Joint Venture basis between H & R Properties and Hecla Mining Company (Rexcon Joint Venture). The drilling program consisted of 15,000 ft and assaying was done every five feet.

Geology

The North Moccasin Mountains is another isolated, laccolith-type mountain range within the Central Montana Alkalic Province. A substantial felsic laccolithic intrusion produced a domed structure approximately 6 miles in diameter and over 7,000 feet in altitude. Erosion of the uplifted, thick sequence of Cambrian to Tertiary sedimentary and volcanic rocks formed the current altitudes within the 3-½ mile diameter core of that range from 4,600 feet to 5,800 feet and reflects the erosion of approximately 1,700 feet from the exposed dome of the laccolith core. The base of the laccolith is not exposed; however, the incidence of a Cambrian Flathead quartzite that suggests a complex basal geometry.

Over several years of state-of-the-art gold-silver exploration in the igneous core of the North Moccasins Mountains has identified at least five separate areas of interest that have received specific exploration attention. Syenite to quartz latite porphyries comprise the major rock types within the intrusive core, which is also cut by several breccia pipes, tuff-filled vents, brittle zones or crackle breccia zones and major, north, northwest, and northeast trending structures. A number of radial faults and ring structures cut the flanking areas outside the sedimentary-intrusive contact on the dome. All of the rock types and superimposed structure are intimately related to the late Tertiary gold mineralization. Many dikes, sills and plugs intrude the core and the bounding sedimentary rock units.

Proposed Future Exploration – Phase I

Due to much better understanding of the structural influence on the host rocks of the gold mineralization indicates that there is a possibility of developing a large, high grade vein system deeper in the igneous core of the Golden Plum property. It is strongly recommended that deep probe geophysical methods be used to evaluate the subsurface. There are newly developed geophysical instruments that combine the use of induced polarization to investigate sulfide mineral content and passive magnetotelluric sounding to map geologic units by their resistivity contrasts. This deep-probe IP is capable of imaging to +/- 5,500 ft depth during the day and followed by use of magnetotelluric work accomplished at night.

Completion of 4 or 5, two-mile long lines on a 9 square mile grids would cover all of the most interesting structurally controlled surface gold mineralization on the property.

Additional surface exploration should be considered during the recommended subsurface program. Prior to implementation of the deep probe survey the traverse lines must be established by AMCOR. This will entail clearing and establishing 5 to 7, 10,000 foot lines with location stakes every 100 feet. From 9 miles to 13 miles of deep probe traverse lines would be established. Our objective, subject to securing additional capital, of which there is no assurance would be use the lines to further define the geology and collect additional rock and soil samples in areas not previously explored in the North Moccasin intrusive core. The established and surveyed traverse lines will also make sighting of future drill holes accessible considering use of the existing road network.

Vienna Property

AMCOR holds this mining property subject to leases with Martin Clemets dated June 26, 2012. See Obligations Under Material Contracts section below.

History and Previous Exploration/Development Efforts

The Vienna Mine consists of 18 unpatented claims covering nearly 360 acres and is located along the projection of the Coeur d’Alene Mining District (aka “Silver Belt”). Present exploration development and mining within the Silver Belt is edging eastward from the original discoveries at the Sunshine Mine past the Coeur, Galena and Caladay a projection of about 10 miles to the Vienna Mine.

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Prior to the formation of the Vienna International Company in 1906 and their development until 1916 there is very little information available. Only minor production has been reported. A 1927 report mentions concentrates with 70% lead and 35 ounces of silver per ton had been milled.

Vienna International completed a total 1,565 feet of development in 3 tunnels. Tunnel No.3 level contained a 90 foot raise, 125 foot shaft and 30 feet of drifting from the shaft bottom. Historical reports indicate that his may have been to locations where the ore that was milled and concentrates were derived from. Three prospective vein systems have been defined within the Vienna Mine Claims.

Geology

Vienna Vein

The mineralized outcrop of the Vienna vein can be traced for 600 feet on the surface. Projections of this N80 W trending, vertical to 85 N dip can be inferred to give a strike length of an estimated 1,500 feet. The width of the vein increases from 6 feet at the surface to 15 feet in width at 300 foot level. The vein is characterized by oxidized sulfides in a siderite gangue and also contains tetrahedrite, galena, pyrite and arsenopyrite. Tetrahedrite is the dominant silver mineral in the Coeur d’Alene Mining District. Historical reports indicate that gold assays were found from the surface down to the 300 foot level. Tunnel No.1 values of 0.30 oz/ton Au, Tunnel No.2 0.20 oz/ton Au to 0.85 oz/ton Au with a high of 2.25 oz/ton Au and confirmed by dump samples of 0.68 oz/ton Au and 0.30 oz/ton Ag. Other sampling in Tunnel No.2 found values range from 0.14 to 0.19 oz/ton Au with a high of 1.20 oz/ton Au. Tunnel No.3 has been closed since 1926, but gold values in the 0.60 oz/ton Au range have been reported. An old report mentions an un-oxidized sample assayed 7.20 oz/ton Ag in the raise between tunnels 3 and 2. Silver values are low in the oxidized portion of the veins and this is typical elsewhere in the Silver Belt mines.

Cross Vein

As the name implies the Cross Vein cuts N80 W trending toward Vienna Vein at N60 E and is exposed in tunnels 2 and 3. The vein ranges in width from 1.5 feet to 2 feet and is comprised of siderite with narrow stringers of tetrahedrite. A Cross Vein sample contained 0.025 oz/ton Au, 0.15 oz/ton Ag and 0.35 % Cu.

International Vein

Exposure of the International Vein is located on the International Claim north of Tunnel No.2. A shaft and short tunnel here indicate some development. A recent bulk sample from the old discovery cut contained 0.26 oz/ton Au, and 0.41 oz/ton Ag.

Other Vein Systems

Three other vein systems are inferred on the claim block. All three occurrences have been explored by short adits. Continued surface exploration mapping and sampling could reveal additional and important vein structures.

Proposed Future Exploration – Phase I

Phase I is a recommended program that would consist of implementing an orientation survey, for soil and rock geochemistry and geophysics, for the express purpose of defining the known veins out along the strike of the veins and to attempt to ascertain if these mineralized structure continue to depth. To determine viable methodology of operations, geologic mapping and sample geochemistry under the recommended exploration plan would be carried out over the entire property utilizing early stage core drilling to define one or more veins. This proposed work is designed to accurately assess the property to determine if further work outlined in Phase II is necessary, and determine which techniques of data acquisition are appropriate for the Vienna property.

Orientation survey over surface of known mineralized zone and outcrops – Phase II

The proposed orientation survey would establish a working grid system, which will allow for accurate data acquisition, as well as provide the initial Geochemical and Geophysical data to determine which methodology is applicable; a) mapping; b) geochemical surveys; c) geophysical evaluation; d) detailed geologic mapping on surface and open underground rock units and structure including additional rock geochemistry testing; f) Soil geochemical testing of property; g) grid soil sample and assay 500 soil samples total distance of 10 line miles;

Quartz Creek and Trout Creek

AMCOR holds a leasehold interest in these properties pursuant to leases with NALLC dated June 26, 2012, covering a total of 72 claims. See Obligations Under Material Contracts section below.

History and Previous Exploration/Development Efforts

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The district, known primarily for its placer deposits, encompasses Cedar, Quartz and Trout Creeks, rising near the crest of the northward extension of the Bitterroot Mountain range. The creeks flow northeastward to enter the Clark Fork River above Superior (Sahinen 1935).

The placers were first claimed in 1869 by French Canadian Louis A. Barrette, and have seen continuous production since then. By 1935 the district had yielded at least $2,000,000 in gold and perhaps as much as $10,000,000. Annual output between 1869 and 1935 ranges from $1,000 to $50,000, with recovery primarily through sluicing and hydraulicking. A connected-bucket dredge was reported to have operated in 1912, and some shaft, drift and limited lode mining has been done. The gold was transported from Superior, a station on the Northern Pacific and the Chicago, Milwaukee and St. Paul Railroads (Rowe 1911; Sahinen 1935).

The gold recovered from the placers was considered to be exceptionally rich, ranging from $19.75 to $20.45 with a standard price of $20.67 per ounce. In 1875 it was reported that the various drifts were yielding as high as $300 to a set of timber, and that about $50,000 in gold was recovered each year from 1871 to 1873. The fineness was reported as ranging from .950 to .982 (Sahinen 1935; Lyden 1948). Each of the creeks has several notable tributaries for which some information is available.

Oregon Gulch and Snowshoe Gulch have both been significant producers along Cedar Creek. In 1875, one company on Snowshoe Gulch grossed $9,200 in 10 weeks with nine men. The net profit for the owners was $4,600, with an additional two to three thousand dollars stolen from the sluices. Windfall Creek, a tributary of Trout Creek, is considered to be the largest producer of placer gold in the district. The "Miller Ground" claim on Windfall Creek was reported to have yielded gold valued at $150,000 by 1919. Tucker Gulch is an important tributary of Quartz Creek, although production along Quartz Creek probably did not exceed $100,000 (Lyden 1948).

The initial rush on Cedar Creek, especially on Oregon Gulch was so great that a hundred miners staked out 200 claims within six months of the initial discoveries in 1869. Mining camps arose and were abandoned quickly as the focus of placering shifted around the district. The population of the district rose upwards of 10,000 by some estimates. In 1870, Forest City, on Cedar Creek itself, reached a population of 7,000 and was a wholesale commercial center for many towns in the area including Missoula. The success of the district prompted publication for three years of "The Missoula and Cedar Creek Pioneer" newspaper. The paper was then moved to Missoula and its name changed to the Missoulian (Smith 1899; Rowe 1911b; Lyden 1948; Wolle 1963).

The gold is recovered from stream and bench gravels located along the three creeks and their tributaries. The gold originates from veins associated with igneous dykes crosscutting the northward extension of the Bitterroots. Chalcopyrite is the principal ore material, and also carries copper and silver in small amounts (Sahinen 1935). The Quartz Creek Property and the adjacent Trout Creek properties comprise a total of 95 unpatented mining claims (1,900 acres), and are located within the favorable Wallace Formation of the Belt Super Group rocks. The area is a highly productive placer district with reported totals of approximately 879,000 oz of gold. The Quartz Creek and Trout Creek Properties collective encompass the potential lode source for the placer workings. Outcrop sampling has returned grades of .05 to as high as 1.0 oz/ton gold. The mineralization is defined as occurring within fractures and in veinlets within the fractured Wallace rocks. The property is located within a historically productive gold district. The aim of this project is to attempt to locate, define and exploit the lode source responsible for the prolific placer deposits.

Geology

Two distinct exploration targets have been identified as; the brecciated siltites of the Wallace Formation, and Mesozoic to Tertiary aged gabbroic to dioritic dikes and sills. Gold in the Wallace Formation is shear/fault zone hosted and is present as associated with quartz and hematite with small pyrite occurrences. The presence of extensive placer workings adjacent to the brecciated Wallace rocks is suggestive of a lode source of significant size and potential. The intrusive hosted quartz-gold veins are considered to be a smaller tonnage potential of medium to high grade.

The Quartz Creek Property entails the potential lode source for a historic placer gold district that has produced approximately 879,000 oz of Gold. The combination of geology, placers, and soil geochemistry indicate the presence of gold mineralized structures sampling and field work has indicated gold grades hosted within the highly favorable brecciated siltite of the Middle Wallace Formation, which warrant continued exploration and development. The deposit, as outlined by previous investigators, indicates samples of 0.04 across 1000-foot widths. Potential exists for low gold deposits along a 3-mile area as outlined and evaluated by the Montana State Bureau of Mines and Geology. Three major placers lead to the lode discovery, with one alone producing 879,000 ounces gold as reported to US Mint. Ground positions are being increased with bulk tonnage testing anticipated by our company in 2013.

Proposed Future Exploration

Two geologists from the Montana Bureau of Mines and Geology conducted extensive field work over a six year period and identified six zones of gold mineralization warranting exploration advancement. These six identified zones will be further evaluated by us by structural mapping, trenching and bulk sampling. At such time as the work conducted by the Montana Bureau of Mines has been confirmed, we plan to engage in a drilling program to evaluate these six zones at depth.

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Bodie Project and Toroda Creek Property

AMCOR holds a leasehold interest to three of the ten Washington State mineral prospecting leases covering this property and the remaining seven mining leases were assigned to Kinross Gold USA, Inc. and 27 unpatented mining claims have been leased to Kinross Gold USA, Inc. AMCOR hold the leasehold interest pursuant to an Option to Purchase Mineral Leases between Hydro Imaging, Inc. and Northern Adventures, Inc. (NAI) entered into on June 25, 2012 and amended on December 7, 2012, which option was transferred to us on December 28, 2012 by NAI pursuant to an Asset Purchase Agreement. See Obligations Under Material Contracts section below.

History and Previous Exploration/Development Efforts of the Toroda Creek-Wauconda Mining District

The Bodie Mining Company owned 27 unpatented claims covering nearly 540 acres located in what is now called the Toroda Creek-Wauconda Mining District in Okanogan County Washington and was organized in 1902 to expand development of the original location. Under the leadership of C.M. Fassett of Spokane, a ten-stamp mill was erected that used mercury amalgamation and straight-leach cyanidation (Chamberlain, 1936). Early production mined near-surface zones of high-grade ore containing as much as 20 ounces per ton (opt) gold. Initial milling practice yielded marginal recoveries, leading to several turnovers in management and ownership. The first period of mining ended in 1916, prior to the start of World War I. During this period, the mine changed hands four times: Bodie Mining Co. (1902–1907), Bodie Mining and Transportation Co. (1907–1909), Duluth-TorodaMining Co. (1910–1912), and Toroda Development Co. (1915–1916).

Moore (1934) reported that approximately 15,000 tons were mined during this 14-year period, with a value of about $130,000 with gold held at $20.67 per ounce. Two companies, Cary Mining and Development Co. and Blue Stem Mining Co., leased or purchased the property between 1916 and 1922, but no production is reported in these years. Chamberlain (1936) stated that the mine was shut down until 1934, at which time Northern Gold Corp. began operations when the price of gold increased to $35 per ounce. Northern Gold rebuilt the mill in 1935, increased throughput to 70 tons per day (tpd), and added a trial flotation circuit that was suspended after only six months use. Recoveries were not completely successful until 1938 when cyanidation and a revised flotation circuit were added. Northern Gold ceased mining and milling operations in 1941 after the War Production Board issued Government Order L-208 closing industries considered nonessential during World War II, but remained active on the property until 1945. The company mined approximately 50,000 tons, valued at $280,000, until shut down. As many as 40 miners and mill men had been employed during Northern Gold’s stewardship, working three shifts per day (Moen, 1980).

A number of companies engaged in mineral exploration and sampling in the district when price of gold escalated in the late 1970s and early 1980s: Vieco Resources, Ltd., Vancouver, B.C. (1974); Malabar Mines, Ltd. (1980); Noranda Exploration, Inc., and Western Land and Resources, Inc. (1982); Freeport Exploration Co., Inc. (1984); and Crown Resource Corp. (1984, 1987).

Geology

The Bodie and Toroda Creek properties lie within the Klondike Mountain volcaniclastic unit of Tertiary age within the Toroda Creek graben, a major north trending feature lying parallel and to the west of the Republic graben structure which contains the Knob Hill and several other historically productive gold mines. Several volcanic units of intrusive, extrusive flow and volcaniclastic rock types fill both grabens. The middle member of the Klondike Mountain formation appears to be the best host for gold mineralization. Lithologies vary from light and dark andesite flows, volcanic breccia and conglomerate to argillite and tuffaceouss units associated with hematite.

The Bodie vein structure intrudes a wide zone of hydrothermally altered and silicified, multi-lithic breccia and vein which forms an impressive backbone of a ridge over 7000 feet long, aligned in a north-south direction. This topographic ridge reflects the silica flooded breccia and spine of the Bodie mineralized structure. Gold mineralization in the Bodie district is similar in age as the epithermal (50-200 °C ) hot springs type gold deposits found in the Republic Mining District and the Knob Hill mine. Although the brecciated rocks contain widespread gold mineralization, historical mining operations have concentrated on a persistent vein up to 22 feet wide. The Bodie vein contains a series of thin porcelain-like quartz stringers or veinlets separated by narrow bands of highly altered andesite and dacite. Moen (1980) reported that the precious metal mineralization in the district occurs as “dust-sized particles”. The only readily identifiable sulfide mineral is finely disseminated pyrite that is pervasive, both in the vein and the breccia. Propylite, sericite, and kaolinite are important alteration products; there is also widespread silica flooding. We do not own or control the patented claims where the original Bodie mine is located, our holdings are to the South and North and extend for several thousand feet along the strike of the zone on which the Bodie mine sits. We believe that this existing gold mineralization is extensive and due to certain geological features, there may not be surface expressions of gold mineralization in several areas of interest. Our primary interest is to explore the extensions of the Bodie vein and areas of extensive brecciation, alteration and quartz flood which are present on our leases and claims.

The Box Group and McKinley-McNally Properties

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The 15 unpatented mining claims located in Stevens County, Washington referred to as the Box Group were reduced to no claims in 2014. The 15 unpatented mining claims located in Stevens County, Washington referred to as the McKinley-McNally Property, were reduced to no claims in 2014.

Obligations Under Material Contracts

We currently have five mineral properties leased from third parties and an option to acquire mineral prospecting and leases from the State of Washington, plus 33 unpatented mining claims. Below is a summary of the financial obligations, terms and conditions of each of the five leases.

Bayhorse Mine

The date of our mining lease with Bayhorse Silver Mine, LLC is June 26, 2012. The term of the lease on the three patented and 21 unpatented claims that make up the property is for 25 years, with an option to renew the lease for two additional successive terms of fifteen (15) years each, so long as there are ores or minerals being developed, mined, processed or marketed on a continuing basis or when exploration activities have advanced far enough that the construction activities related to the start up of ore production are expected to commence within one year. The initial consideration for the lease was a cash payment of ten thousand ($10,000) dollars. Annual minimum advanced royalties will be due the Lessor on the following basis. We are required to pay an annual advance minimum royalty of $10,000 on the first anniversary of this lease, $20,000 on the second anniversary, $30,000 on the third anniversary, $40,000 on the fourth anniversary, $50,000 on the fifth anniversary, and $50,000 on each anniversary thereafter. The first anniversary royalty payment was deferred until December 31, 2015, or payable within ten business days after AMCOR secures funding in excess of $500,000. In July 2014, the second anniversary royalty payment was deferred until December 31, 2014, then it was further deferred on December 30, 2014 until December 31, 2015, or payable within ten business days after AMCOR secures funding in excess of $500,000.

There is a work requirement of ten thousand ($10,000) during the first year of the lease for the benefit of the property and during the second and subsequent years the amount increases to fifty thousand ($50,000) dollars per year. The first year's work requirement was deferred until it could to be accomplished at the earliest possible time, weather permitting. Our joint venture partner, Bayhorse Silver Inc. (“BSI”) (formerly Kent Exploration, Inc.), has satisfied the first year work requirement. The lease calls for a sliding scale royalty payment to the property owner based on the Net Smelter Return (“NSR”). The below is a schedule of the royalty payments due in the event the property is placed into production at some future date, of which there is no assurance.


Value Per Ton	NSR
$200/per ton or less	2%
More than $201/ton up to $300/ton	3%
More than $301/ton up to $400/ton	4%
More than $401/oz up to $1000/ton	5%
More than $1001/per	6.5%

On December 4, 2013, AMCOR signed an Option and Joint Venture Agreement with BSI, a Canadian mineral exploration company, whereby BSI can acquire an option to earn an 80% interest in the Bayhorse Silver Mine ("Bayhorse") in east-central Oregon State. The terms of the Agreement called for a payment of US$20,000 from BSI to AMCOR subsequent to the execution of the agreement and that payment was received on December 5, 2013. To earn the 80% interest the BSI is required to conduct a minimum of US$100,000 per year on exploration expenditures on the property on, or before, each of the first two anniversaries of the Agreement, US$300,000 on or before the third anniversary of the Agreement and expend US$500,000 on or before the fourth and fifth anniversaries of the Agreement. In addition, BSI issued 500,000 shares of its restricted common stock to AMCOR, per the agreement, on December 16, 2013. An additional 500,000 restricted shares of BSI shall be issued to AMCOR on the third anniversary of the Agreement and 500,000 restricted shares on the fifth anniversary of the Agreement. BSI will assume the obligations of the underlying lease agreement with Northern Adventures, Inc.

On December 24, 2013 and December 27, 2013 BSI paid the Company two payments of $10,000 each, or $20,000 in aggregate, which were recorded as return of investment in mineral rights.

On February 12, 2014, Bayhorse Silver Inc. issued 125,000 shares of its subsidiary, Silcom Systems Inc. (Silcom), restricted common stock to the Company for no consideration. The issuance was dividend shares from their subsidiary, Silcom, given to shareholders of Bayhorse Silver Inc. There is no market for the shares currently.

Six additional mining claims were filed by BSI in Mineral Country, Idaho, and come under the area of influence provision of the BSI Option and Joint Venture Agreement. BSI paid the costs to locate and will maintain these claims. The claims on this property have been reduced from 21 to 18.

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Vienna Mine

The date of our mining lease with Martin Clemets is June 26, 2012. The term of the lease on 18 unpatented claims that make up the property is for 25 years, with an option to renew the lease for two additional successive terms of fifteen (15) years each, so long as there are ores or minerals being developed, minded, processed or marketed on a continuing basis or when exploration activities have advanced far enough that the construction activities related to the start up of ore production are expected to commence within one year. The initial consideration for the lease was a cash payment of five thousand ($5,000) dollars. Annual minimum advanced royalties will be due the Lessor on the following basis. We are required to pay an annual advance minimum royalty of $10,000 on the first anniversary of this lease, $20,000 on the second anniversary, $30,000 on the third anniversary, $40,000 on the fourth anniversary, $50,000 on the fifth anniversary, and $50,000 on each anniversary thereafter. The first anniversary royalty payment was deferred until December 31, 2015, or payable within ten business days after AMCOR secures funding in excess of $500,000. In July 2014, the second anniversary royalty payment was deferred until December 31, 2014, then further to December 31, 2015, or payable within ten business days after AMCOR secures funding in excess of $500,000.

There is a work requirement of twenty thousand ($20,000) during the first year of the lease for the benefit of the property and during the second and third year the amount increases to fifty thousand ($50,000) dollars per year and seventy five thousand ($75,000) each year thereafter. The lease calls for a sliding scale royalty payment to the property owner based on the Net Smelter Return (“NSR”). The below is a schedule of the royalty payments due in the event the property is placed into production at some future date, of which there is no assurance. The first year's work requirement has been deferred, allowed to be accomplished at the earliest possible time, weather permitting.


Value Per Ton	NSR
$200/per ton or less	2%
More than $201/ton up to $300/ton	3%
More than $301/ton up to $400/ton	4%
More than $401/oz up to $1000/ton or higher	5%

Monitor-Richmond-Copper Age Mines

The date of our mining lease with Northern Adventures LLC is June 27, 2012. The term of the lease on 20 unpatented claims that make up the property is for 25 years, with an option to renew the lease for two additional successive terms of fifteen (15) years each, so long as there are ores or minerals being developed, minded, processed or marketed on a continuing basis or when exploration activities have advanced far enough that the construction activities related to the start up of ore production are expected to commence within one year. The initial consideration for the lease was a cash payment of five thousand ($5,000) dollars. Annual minimum advanced royalties will be due the Lessor on the following basis. We are required to pay an annual advance minimum royalty of $10,000 on the first anniversary of this lease, $20,000 on the second anniversary, $30,000 on the third anniversary, $40,000 on the fourth anniversary, $50,000 on the fifth anniversary, and $50,000 on each anniversary thereafter. The year one payment has been satisfied by Transatlantic Mining Corp. ("TMC") (formerly Archean Star Resources Inc.), our joint venture partner on the project. There are also work requirements for each year and the lease calls for a variable net smelter royalty in the future. On February 5, 2013, the Company entered into a definitive Option and Joint Venture Agreement with TMC pertaining to these 20 unpatented claims leased by AMCOR pursuant to a Mining Lease with Northern Adventures.

There is a work requirement of fifty thousand ($50,000) during the first year of the lease for the benefit of the property and during the second and third year the amount is also fifty thousand ($50,000) dollars per year and one hundred thousand ($100,000) each year thereafter. The first year work requirement has been met by our joint venture partner TMC. The lease calls for a sliding scale royalty payment to the property owner based on the Net Smelter Return (“NSR”). The below is a schedule of the royalty payments due in the event the property is placed into production at some future date, of which there is no assurance.


Value Per Ton	NSR
$200/per ton or less	2%
More than $201/ton up to $300/ton	3%
More than $301/ton up to $400/ton	4%
More than $401/oz up to $1000/ton	5%
More than $1001/per	6.5%

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As a consequence of entering an agreement dated October 21, 2012 the lease with NALLC was amended and the above royal schedule modified and agreed to by all parties as outlined below:


Value Per Ton	NSR
$500/per ton or less	2%
More than $500 per ton	3%

Transatlantic Mining Corp. (formerly Archean Star) Agreement

On February 5, 2013, we entered into a definitive Option and Joint Venture Agreement with Transatlantic Mining Corp. ("TMC") pertaining to 20 unpatented claims leased by AMCOR pursuant to a Mining Lease with Northern Adventures, LLC. On June 27, 2012, Northern Adventures, LLC originally entered into the Mining Lease with Northern Adventures, Inc., and AMCOR assumed the rights in that Mining Lease from Northern Adventures, Inc. pursuant to the Asset Purchase Agreement dated December 28, 2013. As part of the transaction, AMCOR received 500,000 shares of TMC common stock and was to receive an additional 500,000 shares of TMC common stock on the second and third anniversaries of the agreement, subject to TMC going forward with the agreement after year one. (See Note 6) TMC will assume the obligations of the underlying lease agreement and paid an up-front fee of $7,500 to AMCOR in addition to $5,000 already received by AMCOR indirectly from TMC. Under the terms of the agreement TMC can earn up to 80% ownership interest in the property lease by expending $2,100,000 over a three year period, with a minimum expenditure of $700,000 in year one of the agreement. AMCOR’s interest shall be a Carried Interest until such time as a Bankable Feasibility Study has been produced or a Decision to Mine has been made. A Carried Interest means that AMCOR is not required to contribute any capital or pay any costs related to exploration or development of the property until such time as the joint venture is formed. A Bankable Feasibility Study is an independently audited document that analyses all technical and financial risks before the construction of mine including: capital costs, grades, permits, taxation, cash flow, strip ratio, politics, water, power, labor, revenues, royalties, metallurgy, milling and transport.

On February 8, 2013 TMC paid the Company an up-front fee of $7,500, which was recorded as a return of investment in mineral rights. On February 23, 2013, TMC issued the Company 500,000 shares of TMC common stock (Stock Symbol: TCO.V), which was valued at CAD60,000 based on CAD0.12 per share (CAD1 approximates $1) and recorded as a return of investment in mineral rights. TMC agreed to issue an additional 500,000 shares of its restricted common stock to the Company on, or before, February 5, 2014, per the joint venture option agreement's second year requirements related to the Monitor mine. On March 12, 2014, TMC issued the Company an additional 500,000 shares of TMC common stock pursuant to the Option and Joint Venture Agreement. The Company valued these marketable securities at CAD65,000 based on CAD0.13 per share on the date of issuance (CAD1 approximates $1) credited the same amount to the mineral rights as, a return of investment in mineral rights, upon receipt of the same on March 12, 2014, then marked to market on a quarterly basis and recorded the change in fair value of the marketable securities as unrealized gain (loss) of the marketable securities in other comprehensive income (loss). As of February 5, 2015, another 500,000 TMC shares was due AMCOR. These shares were issued to AMCOR on March 18, 2015.

The year one payment of annual advance minimum royalty of $10,000 and work requirements have been satisfied by Transatlantic Mining Corp, the Company’s joint venture partner on the project.

The year two payment of annual advance minimum royalty of $20,000 was satisfied by Transatlantic Mining Corp. in March, the Company’s joint venture partner on the project.

Pursuant to TMC Option and Joint Venture Agreement TMC is required to expend a minimum expenditure of $700,000 in year one of the agreement. As of February 5, 2014, only $485,000 had been expended by TMC on the Monitor-Richmond property. The Company has deferred until December 31, 2015 the year three advanced minimum royalty payment from TMC, or payable within ten business days after AMCOR secures funding in excess of $500,000. The Option and Joint Venture Agreement was renegotiated on March 12, 2015, whereby: 1) the minimum year one $700,000 work requirement was deemed satisfied, 2) TMC is obligated to expend a minimum of $700,000 on the property between February 5, 2015 and February 5, 2016, and 3) TMC is obligated to expend a minimum of $700,000 on the property between February 5, 2016 and February 5, 2017. As consideration for executing the amendment to the Option and Joint Venture agreement, TMC will issue AMCOR an additional 750,000 shares of TMC common stock and pay $12,500 within twenty days after the effective date. The Company has not been issued these shares and received a $12,485 payment on April 7, 2015, to fulfill the required payment.

Quartz Creek

The date of our mining lease with Northern Adventures, LLC is June 26, 2012. The term of the lease on 37 unpatented claims that make up the property is for 25 years, with an option to renew the lease for two additional successive terms of fifteen (15) years each, so long as there are ores or minerals being developed, minded, processed or marketed on a continuing basis or when exploration activities have advanced far enough that the construction activities related to the start up of ore production are expected to commence

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within one year. The initial consideration for the lease was a cash payment of twenty five thousand ($25,000) dollars. Annual minimum advanced royalties will be due the Lessor on the following basis. We are required to pay an annual advance minimum royalty of $10,000 on the first anniversary of this lease, $20,000 on the second anniversary, $30,000 on the third anniversary, $40,000 on the fourth anniversary, $50,000 on the fifth anniversary, and $50,000 on each anniversary thereafter. The first anniversary royalty payment was deferred until December 31, 2015, or payable within ten business days after AMCOR secures funding in excess of $500,000. In July 2014, the second anniversary royalty payment was deferred until December 31, 2014, and further until December 31, 2015,

There is a work requirement of twenty thousand ($20,000) during the first, second and third year of the lease for the benefit of the property and this amount increases to one hundred thousand ($100,000) dollars per year each year thereafter. The first year's work requirement has been deferred, allowed to be accomplished at the earliest possible time, weather permitting. The lease calls for a sliding scale royalty payment to the property owner based on the Net Smelter Return (“NSR”). The below is a schedule of the royalty payments due in the event the property is placed into production at some future date, of which there is no assurance.


Value Per Ton	NSR
$200/per ton or less	2%
More than $201/ton up to $300/ton	3%
More than $301/ton up to $400/ton	4%
More than $401/oz up to $1000/ton	5%
More than $1001/per	6.5%

Trout Creek

The date of our mining lease with Northern Adventures LLC is June 26, 2012. The term of the lease on 58 unpatented claims that make up the property is for 25 years, with an option to renew the lease for two additional successive terms of fifteen (15) years each, so long as there are ores or minerals being developed, minded, processed or marketed on a continuing basis or when exploration activities have advanced far enough that the construction activities related to the start up of ore production are expected to commence within one year. The initial consideration for the lease was a cash payment of twenty five thousand ($25,000) dollars. Annual minimum advanced royalties will be due the Lessor on the following basis. We are required to pay an annual advance minimum royalty of $10,000 on the first anniversary of this lease, $20,000 on the second anniversary, $30,000 on the third anniversary, $40,000 on the fourth anniversary, $50,000 on the fifth anniversary, and $50,000 on each anniversary thereafter. The first anniversary royalty payment was deferred until December 31, 2015, or payable within ten business days after AMCOR secures funding in excess of $500,000. In July 2014, the second anniversary royalty payment was deferred until December 31, 2014, and further until December 31, 2015,

There is a work requirement of fifty thousand ($50,000) during the first, second and third year of the lease for the benefit of the property and this amount increases to one hundred thousand ($100,000) dollars per year each year thereafter. The first year's work requirement has been deferred, allowed to be accomplished at the earliest possible time, weather permitting. The lease calls for a sliding scale royalty payment to the property owner based on the Net Smelter Return (“NSR”). The below is a schedule of the royalty payments due in the event the property is placed into production at some future date, of which there is no assurance.


Value Per Ton	NSR
$200/per ton or less	2%
More than $201/ton up to $300/ton	3%
More than $301/ton up to $400/ton	4%
More than $401/oz up to $1000/ton	5%
More than $1001/per	6.5%

Washington State Mineral Prospecting Leases—Bodie Project Toroda Creek-Wauconda Mining District-Kinross Gold USA, Inc.

The terms and conditions for annual prospecting leases granted from the State of Washington require the expenditure of $3.00 per acre on prospecting or exploration on an annual basis during the term of the lease. The work conducted must be performed in such a manner as to contribute directly to the evaluation of the economic mineral potential of the leased property. As an alternative there is the option to make cash payment to the State in the amount of $3.00 per acre in lieu of the performance of prospecting work for up to,

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but not more than three (3) years during the term of the prospecting lease. In addition to the requirement to expend $3.00 per acre on prospecting and exploration on an annual basis, there is a requirement to pay the State of Washington an annual rental fee of $2.00 per acre for the first three years of the mineral prospecting lease and $3.00 per year for each subsequent year. Pursuant to the assignment of the Washington State prospecting permit and leases to Kinross, all annual rental fees payable to the state of Washington and work requirements were assumed and have been paid by Kinross, as detailed below.

Kinross Mining Lease and Assignment

On April 5, 2013 we exercised an option to acquire three mineral leases located in Okanogan County, Washington, pursuant to an Option to Purchase Mineral Leases between Hydro Imaging, Inc. and Northern Adventures, Inc. (NAI) entered into on June 25, 2012 and amended on December 7, 2012, which option was transferred to us on December 28, 2012 by NAI pursuant to an Asset Purchase Agreement. The original option was granted by HydroImaging, Inc (Hydro), a private company owned solely by David Boleneus, currently a member of our board of directors, to NAI on June 25, 2012. Under the terms of the original option Hydro granted the right to acquire ten leases granted by the Department of Natural Resources for the State of Washington totaling 4,583.76 acres and 27 unpatented mining claims located in the Toroda Creek-Wauconda Mining district in Okanogan country in the State of Washington for the payment of an exercise price of $10,000.

An amendment to the Option to Purchase Mineral Leases on December 7, 2012 provided Hydro the authority to enter into an Mining Lease and Assignment agreement with Kinross Gold USA, Inc. (Kinross), as an alternative to transferring the ten leases and subject to Hydro executing an agreement with Kinross. As an alternative to acquiring the ten leases and pursuant to the amendment, AMCOR was also granted an option to acquire all right, title and interest in any agreement reached between Kinross and Hydro. On February 28, 2013, Hydro concluded a Mining Lease and Assignment agreement with Kinross transferring seven of the ten mineral leases totaling 2,934.56 acres and a lease on 27 unpatented mining claims located in Okanogan County, Washington. The seven state leases were transferred from Hydro to Kinross and approved by the State of Washington on March 27, 2013. Pursuant to the terms of the Kinross agreement, Kinross will assume all of the underlying obligations, annual rental expenses, and work requirements related to the seven leases and 27 unpatented mining claims. The remaining three state mining leases totaling 1,649.2 acres will be transferred from Hydro to AMCOR, subject to approval from the Department of Natural Resources for the State of Washington.

Under the terms of the Mining Lease and Assignment agreement Kinross will pay AMCOR production royalties as follows: a 1% net smelter return royalty on all minerals extracted from the area covered by the 7 leases and a 2.5% net smelter return royalty on all minerals extracted from the area covered by the 27 unpatented mining claims. The amount of royalties to be paid (both production royalties and advance royalty payments) are capped at $3 million per lease. Kinross will also pay advance royalty payments in the aggregate amount of $1 million as follows: $15,000 payable within 7 days of February 28, 2013, the effective date, $15,000 payable within 15 days of the effective date, $40,000 payable on February 28, 2014, $50,000 payable on February 28, 2015, and thereafter the annual advance royalty payment is to increase by 5% per year up to a maximum annual payment of $100,000. Kinross satisfied the initial two $15,000 payments as well as the first year payment of $40,000. The obligation to pay the advance royalty payment shall cease once an aggregate of $1 million has been paid. Advance minimum royalty payments shall be creditable against the production royalties. The production royalty payments for Minerals produced from the state leases shall be capped at $3,000,000 for each of the seven leases, including any advanced royalty payments to be offset. Kinross also undertakes to make such payments and undertake such other actions necessary to maintain the seven state mining leases and the unpatented claims in effect and good standing.

On April 5, 2013 Kinross Gold USA, Inc. paid the Company $30,000 year one annual advance minimum royalty payment which was recorded as royalty revenue upon receipt of the payment of cash.

On March 3, 2014 Kinross Gold USA, Inc. paid the Company $40,000 year two annual advance minimum royalty payment, $10,000 of which was recorded as royalty revenue upon receipt of the payment of cash.

On March 2, 2015 Kinross Gold USA, Inc. paid the Company $50,000 year three annual advance minimum royalty payment which was recorded as royalty revenue upon receipt of the payment of cash.

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PART IV

ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES

(a) 1 & 2. Financial Statements See Item 8 in Part II of this report.

All other financial statement schedules are omitted because the information required to be set forth therein is not applicable or because that information is in the financial statements or notes thereto.


(a) 3.		Exhibits

2.1		Acquisition Agreement and Plan of Merger between APD Antiquities, Inc. and GCJ, Inc. dated December 27, 2004 (Incorporated by reference to the corresponding exhibit to the Form 8-K previously filed by APD Antiquities, Inc.) on December 30, 2004 (File No. 000-50738) (the “December 30, 2004 Form 8-K”)

2.2		Articles of Merger (Nevada) dated December 29, 2004 (File No. 000-50738) (Incorporated by reference to exhibit 2.1 to the December 30, 2004 Form 8-K)

3.1		Articles of Incorporation*

3.2		By-Laws*

10.1		2001 stock Option Plan (Incorporated by reference to Exhibit 10.1 to the December 31, 2008 Annual Report on Form 10-K) (File No. 000-50738)

10.2		Form of Promissory note from Northern Adventures, LLC dated April 4, 2011, April, 12, 2011, May 3, 2011, August 24, 2011, September 8, 2011, September 21, 2011, October 10, 2011, November 3, 2011, November 15, 2011, January 5, 2012, January 21, 2012, May 15, 2012,May 18, 2012 and June 18, 2012 (incorporated hereto by reference to Form 10-Q, Exhibit 10.2 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.3		Form of Notice of Intent to Convert Debt to Shares of Restricted Common Stock (incorporated hereto by reference to Form 10-Q, Exhibit 10.3 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.4		Letter of Intent between APD Antiquities, Inc. and Northern Adventures, LLC dated April 8, 2011 (incorporated hereto by reference to Form 10-Q, Exhibit 10.4 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.5		Form of Amended Letter of Intent between APD Antiquities, Inc. and Northern Adventures, LLC dated August 5, 2011 (incorporated hereto by reference to Form 10-Q, Exhibit 10.5 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.6		Form of Amended Letter of Intent between APD Antiquities, Inc. and Northern Adventures, LLC dated December 30, 2011 (incorporated hereto by reference to Form 10-Q, Exhibit 10.6 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.7		Form of Amended Letter of Intent between APD Antiquities, Inc. and Northern Adventures, LLC dated March 30, 2012 (incorporated hereto by reference to Form 10-Q, Exhibit 10.7 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.8		Form of Amended Letter of Intent between APD Antiquities, Inc. and Northern Adventures, LLC dated June 30, 2012 (incorporated hereto by reference to Form 10-Q, Exhibit 10.7 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

10.9		Form of 2012 Convertible Promissory Note (incorporated hereto by reference to Form 10-Q, Exhibit 10.8 filed with the Securities and Exchange commission on May 21, 2012, file number 000-50738)

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10.10		Option to Purchase Assets Agreement between APD Antiquities, Inc., AMCOR Exploration, Inc. (a wholly owned subsidiary) and Northern Adventures, LLC and Northern Adventures, Inc. effective July 3, 2012. (incorporated hereto by reference to Form 8-K, Exhibit 10.1 filed with the Securities and Exchange commission on July 5, 2012, file number 000-50738)

10.11		Asset Purchase Agreement with NALLC entered into on December 28, 2012**

10.12		Toroda Creek/Bodie Option to Purchase Leases and Interest in Mining Claims**

10.13		Toroda Creek/Bodie Option Amendment**

10.16		North Moccasin Quit Claim Deed**

10.17		Bayhorse Silver Option to Lease Claims**

10.18		Quartz Creek Mining Lease**

10.19		Trout Creek Mining Lease**

10.20		Vienna Mining Lease**

10.21		Monitor-Richmond-Copper Age Lease**

10.22		Monitor-Richmond-Copper Age Lease Amendment**

10.23		Option and Joint Venture Agreement between AMCOR and Transatlantic Mining Corp. (formerly Archean Star Resources, Inc.) dated February 5, 2013 (incorporated hereto by reference to Form 8-K, Exhibit 10.1 filed with the Securities and Exchange commission on February 11, 2013, file number 000-50738)

10.24		Second Amendment/Addendum To Option and Joint Venture Agreement between AMCOR and Transatlantic Mining Corp. dated March 12, 2015

10.25		Notice of Intent to Exercise Option Agreement between AMCOR and HydroImaging, Inc dated April 5, 2013. (incorporated hereto by reference to Form 8-K, Exhibit 10.1 filed with the Securities and Exchange commission on April 11, 2013, file number 000-50738)

10.26		Mining Lease and Assignment agreement between Kinross Gold USA, Inc. and Hydro Imaging, Inc. dated February 28, 2013. (incorporated hereto by reference to Form 8-K, Exhibit 10.2 filed with the Securities and Exchange commission on April 11, 2013, file number 000-50738)

31.1		Section 302 Certification

31.2		Section 302 Certifications

32.1		Section 1350 Certifications

32.2		Section 1350 Certifications

* Incorporated by reference to the Registrant's Registration Statement on Form 10SB filed with the Securities and Exchange commission on May 3, 2004 File No. 000-50738

** Incorporated by reference to the Form 8-K filed with the Securities and Exchange commission on January 3, 2013, File No. 000-50738

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SIGNATURES

In accordance with Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: October 27, 2015

AMERICAN CORDILLERA MINING CORPORATION


By:	/s/ Frank Blair
	Frank Blair President, CEO, Director

In accordance with the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated:

/s/ Frank Blair

Frank Blair

President, CEO, Director

Dated: October 27, 2015

/s/ Dwight Weigelt

Dwight Weigelt

CFO, Secretary, Treasurer, Director

Dated: October 27, 2015

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AMERICAN CORDILLERA MINING Corp 10-K/A