Goldsands Development Company is an exploration-stage mining company. The Company is involved in the examination and investigation of land that contain valuable minerals, for the purpose of discovering the presence of ore. The Company has no known reserves of any type of mineral. For this reason, the proposed plan of exploration described below is exploratory in nature. As of December 31, 2010, the Company had not discovered an economically viable mineral deposit on any of the properties underlying its mineral property interests. The Company reorganized its operations to pursue the exploration, development, acquisition and operation of oil and gas properties. The Company’s subsidiary, Constitution Mining Argentina SA was registered with the General Inspection of Corporations in Argentina. The Company owns a 100% interest in the issued and outstanding stock of Bacon Hill Invest Inc.