Gryphon Gold Corporation (Gryphon Gold) is in the business of acquiring, exploring, and developing gold properties in the United States, emphasizing the State of Nevada. The Company is a production company focused on the Borealis Project and exploring mineral properties. Gryphon Gold owns 100% interest in operating subsidiary, Borealis Mining Company (BMC). The Borealis Property in Nevada is the Company�s principal asset, which Gryphon Gold holds through BMC. On March 30, 2012, the Company produced its first bar of dore consisted 418 ounces of gold and 724 ounces of silver. On June 6, 2011, construction commenced on the Borealis Projet. During the fiscal year ended March 31, 2012, there were two drilling programs completed on the Borealis Property. The first program consisted of 32 reverse circulation holes for 4,485 feet of drilling and the second consisted of 27 reverse circulation holes for 1,295 feet of drilling.