El Capitan Precious Metals, Inc., a development stage company, engages in the exploration, development, and mining of precious metals, iron ores, and other minerals in the southwestern United States. It owns 40% interest in the El Capitan mine located in Lincoln County, New Mexico. The El Capitan property consists of approximately 200 acres of mineral lands bounded by the Lincoln National Forest in Lincoln County, New Mexico. The company holds 20% ownership of 13 mining claims and other assets known as the C.O.D. mine located near Kingman, Arizona. In addition, the company owns 100% of Rainbow Valley mine, which consists of approximately 1,720 acres located in Maricopa County, Arizona; and Weaver mines that consist of approximately 40 acres of land located in Maricopa County, Arizona. The company is based in Scottsdale, Arizona. El Capitan Precious Metals, Inc. is 66.1% owned by Gold and Minerals Co., Inc., as of September 30, 2004.