Cripple Creek Gold Mine

McGrath, Alaska

$4,950,000

1,640± Acres

INTRODUCTION

Cripple Creek Gold Mine, situated deep within Alaska’s untamed wilderness, offers a rare opportunity for both gold miners and gold investors or as a dual-purpose gold mine in the summer and hunting camp in the fall. Located roughly 46 miles north/northwest of McGrath, this expansive property is within the Innoko Mining District, spanning 1,640± acres at the confluence of Bear Creek and Cripple Creek, which flows into Graham Creek and extends to Colorado Creek. The site is comprised of 72 unpatented claims.

With a rich history of gold mining in this area dating back to 1917, the Alamin Mining Corporation acquired or leased these mining claims forming the Cripple Creek Gold Mine in the early 1980s. Before that time, some of the claims had been mined by various miners, including Willard “Tex” Gates and his son-in-law Dennis Gould. Cripple Creek Mine has been extensively explored and tested, revealing substantial reserves with overburden depths ranging from 8-15 feet. The seller has drilling information on about 25% of the claims.

The property’s location offers more than just mining potential. The area has an abundance of wildlife, including grizzly and black bears, moose, caribou, wolves, wolverines, and lynx, making it a haven for miners and outdoor enthusiasts.

A 1,600± foot gravel runway provides access to this remote location with room to add another 400’ if needed. The site is equipped with a modern suction dredge, a trommel, and additional mining equipment. Multiple cabins are on-site, including crew bunks, a kitchen cabin, a utility cabin, and a supplies cabin. Numerous pieces of heavy equipment are at the mine, including a JD dozer, a Cat loader, and several others.

The property’s remote location is balanced by its accessibility, with a nearby 6,000’ paved airstrip at McGrath. Whether you’re drawn by the prospect of mining or the allure of Alaska’s wilderness, Cripple Creek Gold Mine presents a unique and compelling investment opportunity. 1 Cripple Creek Gold Mine

QUICK FACTS

• McGrath is a small town along the Kuskokwim River, surrounded by Alaska wilderness, and is one of the checkpoint locations for the famous Iditarod Race - population approximately 350

• 7 Cabins on site, including dining, supplies, bunks, shower, and laundry

• Heavy Equipment on-site includes a JD 850 dozer, Cat 988 loader, and more

• Mining Equipment on-site includes a trommel, feed conveyor, modern suction dredge

• Access to the property is by private airstrip, approximately 1,600’

• The mining history in this area dates back to 1907. Claims are located on Cripple Creek, Bear Creek, and Graham Creek, covering 1,640± acres in the Innoko Mining District with 72 total unpatented claims

• Test holes indicate rich gold reserves

• Overburden averages 12-15 feet

• The area is home to grizzly bears, black bears, moose, caribou, wolves, wolverines, and Dall sheep

• McGrath has a 6,000± foot asphalt runway, 100’ wide, offering fuel, lodging, and limited supplies

• The property is currently permitted for mining operations, and approximately 90% of the claims in the area remain unmined, offering significant potential

• A crew camp is on-site, providing accommodations for workers and ready for immediate use

• Gates claims are leased by the seller and will be conveyed by the seller at closing

Cripple Creek Gold Mine | McGrath, Alaska

ACREAGE

Cripple Creek Gold Mine, located near McGrath, Alaska, spans 1,640± acres with 72 unpatented gold claims in the Innoko Mining District. This property has a rich history of gold mining.

Cripple Creek Gold Mine | McGrath, Alaska

EQUIPMENT

The equipment is located at the mine. The seller makes no representations or warranties regarding the condition or legal ownership.

Cripple Creek Gold Mine | McGrath, Alaska

HUNTING | WILDLIFE

• Grizzly Bear

• Black Bear

• Moose

• Caribou

• Wolves

• Wolverine

• Lynx

The property is a haven for hunters and wildlife enthusiasts alike, teeming with a variety of species that thrive in Alaska’s rugged environment. Wildlife observers will appreciate the diverse ecosystem, where they can spot a variety of magnificent creatures. The property’s commitment to wildlife conservation ensures that these natural treasures are preserved for future generations.

Photo not taken on property

Photo taken on property

Photo not taken on property

FISHING

• Northern Pike

• Grayling

• Rainbow Trout

• Dolly Varden

Anglers will find this property a paradise, with its rich waters teeming with a variety of fish species. With options to catch different species depending on the season, this location is perfect for year-round fishing adventures. The pristine waters and the stunning natural surroundings create a fishing experience that is as rewarding as it is serene.

Northern Pikephoto not taken on property

Dolly Varden - photo not taken on property

Grayling - photo not taken on property

Rainbow Trout - photo not taken on property

Cripple Creek Gold Mine | McGrath, Alaska

INCOME OPPORTUNITY

STRANDBERG REPORT

• Preliminary Feasibility Study dated March 18, 1988

• Report done by respected Alaska miners Odin Strandberg Sr. and Edward Odin Strandberg Jr. and driller Ed Schwoyer

• Most thorough drilling and testing done on the claims, but tested less than 40% of the claims held

• Total Proven and Probable Gold Reserves on estimated 150 acres tested was 124,250 ounces

HALLORAN REPORT

• Property Report on Alamin Mining Corporation’s Bear Creek Mine dated January 6, 2012

• Report done by respected Alaska geologist Jim Halloran

• Update to Strandberg Report adding value to estimated additional Alamin claims

• Extrapolated testing results from Strandberg report and applied that data to new claims, since less than 25% of the claims were tested by the Strandberg Report

• Assumed 390 prime mineable acres out of the 1,640 total acres, with approximately 150 acres tested

• Total estimated gold reserves 114,250 ounces, with additional extrapolated gold resources of 51,450 ounces, up to an additional 300,000 ounces with an aggressive interpretation

HIGHLINER CONSULTING REPORT

• Bear Creek Project Technical Report prepared in July 2012

• Report done by Highliner Consulting Group, which included experts Paul Johnson of Highliner Consulting Group, Don Stevens of Stevens Exploration Management Corp, Keith Tryck of Tryck Consulting, Dave Nyman of Restoration Science and Engineering and geologist Jim Halloran

• Report used Strandberg report data but conservative reserves analysis and $1,500 gold price cutoff for 17,330 ounces used for this updated report

• 7-year net profit of $13.9 million using conservative 17,330 ounces at $1,500 per ounce gold

• Gross revenue would be $43.3 million if using 17,330 ounces at $2,500 per ounce gold price, plus more reserves would be added due to more testing areas being able to be profitably mined

• Estimated seasonal operating costs $850,000 using 2102 information

• Report stated that there is a high likelihood that the gold resources in the Alamin claims can be expanded with additional drilling/bulk sampling. Property has a significant upside and warrants further detailed study

AREA HISTORY

In the summer of 1906, gold was found on Ganes Creek by Thomas Gane, F.C.J. Spencer, Mike Roke, and John Maki. The original discovery in the Iditarod District was made on Christmas Day, 1908, on Otter Creek by W.A. Dikeman and John Beaton. Placer gold was found in the Cripple Creek Mountains in the spring of 1912, and the Poorman placers were found at about the same time. Candle Creek, near McGrath, was opened up in 1914. Wilson and Hard were operating on lower Cripple Creek in 1933 along the west side of the creek. The paystreak was about 200 feet wide and ran 20 to 30 cents per square foot (Au @ $20.67 per ounce).

The overburden consisted of two to 12 feet of muck overlying five to six feet of gravel. The muck increases in thickness from the east to the west side of the cut. The thickness of the gravel was uniform, and the ground was thawed. The gravel was pretty well-rounded and of uniform size, averaging four to five inches in diameter, and consisted largely of chert, greenstone, andesite, and basalt porphyries, and a smaller proportion of granitic rocks and some soft sandstone and shale.

Northern Commercial Company Building, McGrath, Alaska, circa 1914

The bedrock was serpentinous greenstone. The gold was found in the lower 2.5 feet of gravel and on bedrock and was moderately finegrained. The average of two assays of gold mined from this operating area in 1932 was 910.25 parts Au and 86 parts Ag in a thousand parts.

Open-cut mining at the Wilson & Hard Plant was accomplished with a slack-line scraper and sluiced in a ground sluice placed on gravel stripped from the deposit. Water for sluicing was obtained from a ditch along the West side of Cripple Creek about 0.75 miles upstream, which furnished a head of 70 feet at the cut. The scraping bucket capacity was 1.25 CY. A 50 h.p. boiler was used for a power plant. A cut 1,400’ long and 200’ wide had been ground sluiced in August 1933, and the lower 60,000 SF of the cut was expected to be worked by the end of the season. A shortage of water occurred during the late summer. The plant employed eight men. This operation later utilized bulldozers, ground sluice, and a 1.25 CY dragline.

The claims upstream on Cripple Creek were consolidated into a single group held by Strandberg & Co. During the summer of 1933, that company made preparations to install a 1.25 CY steam dragline, but low water on the Innoko River prevented the landing of machinery at Cripple. The valley floor at the planned mining site was about 300’ wide, and two cuts totaling 90,000 SF had been prepared. A 6,000-foot ditch was constructed, which was to deliver water from upper Cripple Creek under a head of 175’ to those cuts. The fineness of two gold assays from the cuts was 888 parts Au and 111 parts Ag in a thousand parts. The Strandberg Company used the steam dragline to feed wooden elevated boxes. A 2.5 CY diesel dragline and D-8 tractors were moved to the property after WW II.

McGrath Post Office circa 1914

Cripple Creek Gold Mine | McGrath, Alaska

CLIMATE

The most pleasant months of the year for McGrath, Alaska, are summer months, with temperatures around 70 degrees and winter lows around 5 degrees. On average, there are about 26 inches of rain, 110 inches of snow, and 130 sunny days per year.

Climate charts courtesy of https://www.city-data.com/city/McGrath-Alaska.html

MINERAL RIGHTS

All mineral rights appurtenant to the property and owned by the seller will convey to the buyer at closing. Mineral rights are not guaranteed. It is suggested that the buyer conduct a mineral search with a title company. The seller is the holder of unpatented lands.

17 Cripple Creek Gold Mine | McGrath, Alaska

Cripple Creek Gold Mine | McGrath, Alaska

LOCATION

The mine site is at the confluence of Bear Creek and Cripple Creek, which becomes Graham Creek. Claims follow Graham Creek up to Graham Creek confluence with Colorado Creek, north and west of the Cripple Creek Mountains. The site lies N/NW of McGrath, approximately 46 miles in the Cripple Mountain Mining District, Alaska, 260 air miles NW of Anchorage, and 270 air miles SW of Fairbanks; McGrath offers a 6,000’ asphalt runway on the upper Kuskokwim River.

Fly to Anchorage, Ted Stevens International Airport; from Anchorage, charter a 180, 206, Super Cub, or a helicopter.

AIRPORT SERVICES

Bear Creek airfield strip facilitates access to the property, which is 1,600’ and located adjacent to a portion of the Project reserves. This airfield presently accommodates single-engine and light twin aircraft. Heavy freight may also be barged to Bethel, then up the Kuskokwim River during the summer barging season. The freight would then be moved by gravel-surfaced road 35 miles to Ophir. The winter freight route from Ophir to Bear Creek is 52 miles.

Cripple Creek Gold Mine | McGrath, Alaska

GOLD CLAIMS FOR SALE

CONSERVATION | STEWARDSHIP

Each of us at Fay loves the land and wants to see it remain a productive agricultural ground and a quality fish and wildlife habitat. Through promoting thoughtful land stewardship, Fay has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay is proud to say that since our company began in 1992, our clients’ conservation ethics and land-use practices have significantly enhanced our work landscape.

Cripple Creek Gold Mine | McGrath, Alaska

SUMMARY

The Cripple Creek Gold Mine in Alaska presents a compelling investment opportunity for those interested in gold mining and the rugged beauty of the Alaskan wilderness. Situated near McGrath in the Innoko Mining District, the property encompasses approximately 1,640± acres, 72 unpatented claims with substantial gold reserves. Beyond its mining potential, the site offers a stunning natural setting with abundant wildlife, making it a haven for outdoor enthusiasts who enjoy activities like hunting, fishing, and camping. The property’s rich mining history adds to its allure, and with accessibility via a 1,600± foot airstrip, it’s both a practical and adventurous choice for investors and nature lovers alike.

www.fayranches.com | 800.238.8616 | info@fayranches.com

Cripple Creek Gold Mine | McGrath, Alaska

$4,950,000 Cash

Conventional Financing

This is an exclusive co-listing with Fay and Real Broker of Alaska. Please contact Troy Dana at (360) 402-5500 | tdana@fayranches.com or Yvan Corbin at (907) 301-0875 | Yvan@alaskatopshelfrealty.com to schedule a showing. An agent from Fay or Real Broker Alaska must be present at all showings unless otherwise noted or other arrangements are made. To view other properties, fly fishing properties, and sporting ranches that we have listed, please visit our web page at www.fayranches.com.

Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.

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