StarGold Mines engages in the development and extraction of natural resources from the "Nerchinskie" minerals & metals deposit in the Siberian and Far Eastern Federal Districts of Russia. Nerchinskie is located in the Soyuz cooperative association of prospectors in the Chita region. UniverCompany plans to extract and process standard and other technogenic formations on the earth's surface, develop gold and rare earth deposits using state of the art extraction and recovery technologies.

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StarGold has the rights to approximately 17% of the "Karalon" deposit, which the Company believes has both precious metals and other scare resources such as copper, lead and tin. Under an agreement dated December 2006, UniverCompany has the option to acquire the remaining 80% of the Karalon deposit in return for a payment of $2.8 million USD.

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