A Developer is a company not yet in production with proven and probable mineable reserves on at least one property that are based upon a pre-feasibility study/or feasibility study.

An Explorer is a company that has drill indicated/measured resources using Canadian and/or U.S. SEC definitions on at least one property, but has not yet advanced the property to a status where the contained metals can be classified as proven and probable mineable reserves based upon a feasibility study.

A Prospector is a company with none of the above defined resources, but with one or more properties with good geological targets based upon geochemical, geological, and geophysical studies. Indicated targets are gold/precious metal bearing.