79 Unpatented Arizona Gold Mining Claims Hit the Auction Block on July 22nd

    U.S. Bankruptcy Court Directs the Sale of 24 Placer and 55 Unpatented
Load Mining Claims Including the Golconda Mine in La Paz County, AZ by Sheldon
Good & Company

    NEW YORK, May 28 /PRNewswire/ -- Sheldon Good & Company Auctions
(www.sheldongood.com), the nation's largest real estate auction company, has
been retained by bankruptcy court to auction gold mining claims with proven
reserves located over an expanse of 1,000 acres in Quartzsite, Arizona.

    Twenty-four placer and 55 lode mining claims, unpatented, as well as any
other unpatented gold mining claims, and other rights relating to the Golconda
Mine in La Paz County, AZ, will be offered in an open outcry auction. All
mill-site equipment and stockpiled material on site is also included.  The
U.S. Bankruptcy Court of the District of Arizona has approved the sale of the
property and will accept the current bid of $625,000 or the highest bid over
that amount. The land is approximately 125 miles west of Phoenix at the
southeastern base of La Cholla Mountain of the Dome Rock Mountains.

    The auction will be conducted on Wednesday, July 22nd at the Hilton
Scottsdale, 6333 North Scottsdale Road, Scottsdale, Arizona.  Registration
begins at 10:00 am and the auction begins at 11:00 am.  The property may be
inspected on the following dates:  Wednesday, June 17th; Thursday, June 25th
or Friday, July 10th.  Please make an appointment two days in advance of
inspection by calling (800) 315-2199 X 4327.  All bidders are required to
purchase a Bidder's Information Packet priced at $75 in order to bid at
auction.  A certified or cashier's check in the amount of $60,000 is required
in order to buy at the auction.

    "The auction process provides a unique opportunity for buyers to purchase
these claims at their own price," said Alan Kravets, President.  "We
anticipate a high level of interest in this unusual offering that includes the
rights to mine gold in an existing mine with proven reserves.  Having the
equipment and material on-site included is an added bonus."

    For further information about the forthcoming mining claims auction,
please call Sheldon Good Auctions at (800) 315-2199.

    About Sheldon Good & Company
    Sheldon Good & Company Auctions has been rated the premier real estate
auction company by a number of prestigious financial publications. The company
has aggregate sales of over $10 billion.

    Sheldon Good & Company Auctions

For further information:

For further information: Melanie Keenan, Rubenstein Associates, NY,
+1-212-843-8092 Web Site: http://www.sheldongood.com

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