Common use of Area of Interest Clause in Contracts

Area of Interest. Owner and TRC agree that an Area of Interest will be established around the claim group that constitutes the Property as of the Execution Date. The Area of Interest shall be defined as that area shown on the map attached as Exhibit B hereto. Any property acquired by either Party (the “Acquiring Party”) within the Area of Interest subsequent to the Effective Date may be included in and subject to this Agreement as if the newly acquired property (the “Additional Lands”) was listed in Exhibit A, subject to and in accordance with the following: (a) the Acquiring Party shall provide the other Party (the “Non-Acquiring Party”) written notice of the acquisition, including a description of the Additional Lands and copies of all location certificates or other instruments (including, without limitation, leases, purchase agreements and deeds) (the “Acquisition Documents”) pursuant to which the Additional Lands were acquired; (b) if TRC is the Acquiring Party, the Additional Lands shall be deemed to be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A; (c) if Owner (or either of them) is the Acquiring Party, the Additional Lands shall be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A unless TRC notifies Owner, in writing, within sixty (60) days following TRC’s receipt of Owner’s notice, that TRC declines to include the Additional Lands under this Lease, in which event Owner shall be free to hold and operate such Additional Lands for its own account, free and clear of any claims by TRC; and (d) if any Additional Lands made subject to this Agreement pursuant to this Section 1.2 are burdened, as of the date of acquisition, by any royalties on production (including, without limitation, any royalties created by or under the Acquisition Documents) (“Third Party Royalties”), then the royalty payments becoming due to Owner under Section 6 of this Agreement with respect to production from the Additional Lands (but not from the remainder of the Property) shall be reduced by the amount of the Third Party Royalties on such production; (e) Following the inclusion of Additional Lands in the Property pursuant to this Section 1.2, the Parties shall take such actions and execute such instruments (including, without limitation, an amendment to this Agreement) as either Party may desire or as may be required under the terms of the Acquisition Documents or applicable law to subject the Additional Lands and the Acquisition Documents to the terms of this Agreement.

Area of Interest. Owner and TRC agree that No Participant will acquire any Mineral Rights (or an Area of Interest will be established around the claim group that constitutes the Property as of the Execution Date. The Area of Interest shall be defined as that area shown on the map attached as Exhibit B hereto. Any property acquired by either Party interest therein) or Other Rights (the “Acquiring Party”or an interest therein) located wholly or in part within the Area of Interest subsequent to the Effective Date may be included in and subject to this Agreement as if the newly acquired property (the “Additional LandsAcquired Interest”) was listed in Exhibit A, subject to and unless acquired in accordance with this clause 15.4. If a Participant or any of its Affiliates acquires or proposes to acquire an Acquired Interest, within thirty (30) days after such acquisition or proposed acquisition, as the following: case may be, such Participant (aand if it is an Affiliate of a Participant, the applicable Participant) the Acquiring Party shall provide notify the other Party Participants of such acquisition or proposed acquisition. Such notice shall describe in detail the Acquired Interest, the acquiring Participant or Affiliate and the cost thereof (the “Non-Acquiring Party”) written notice of the acquisition, including a description of the Additional Lands and copies of all location certificates or other instruments (including, without limitation, leases, purchase agreements and deeds) (the “Acquisition DocumentsCosts”) pursuant ). In addition to which the Additional Lands were acquired; (b) if TRC is the Acquiring Partysuch notice, the Additional Lands acquiring Participant shall make any and all information concerning the Acquired Interest available for inspection by the other Participant. Within thirty (30) days after receiving the notice and information, any other Participant may notify the acquiring Participant of its election to include such Acquired Interest in the Joint Venture Property, and if it so elects then such Acquired Interest will be deemed to be included Joint Venture Property and the Participants will bear the Acquisition Costs in and subject to this Agreement as if the Additional Lands were listed in Exhibit A; (c) if Owner (or either accordance with their respective Participating Interest regardless of them) is the Acquiring Party, the Additional Lands shall be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A unless TRC notifies Owner, in writing, within sixty (60) days following TRC’s receipt of Owner’s notice, that TRC declines whether they elected to include the Additional Lands under this LeaseAcquired Interest or not. If all of the other Participants all do not want to include such Acquired Interest as part of the Joint Venture Property, in then the Participant which event Owner shall gave such notice and any of its Affiliates will be free to hold and operate acquire or otherwise deal with such Additional Lands Acquired Interest for its their own account, free and clear of any claims by TRC; and (d) if any Additional Lands made such Acquired Interest will be deemed not subject to this Agreement pursuant to this Section 1.2 are burdened, as of the date of acquisition, by any royalties on production (including, without limitation, any royalties created by or under the Acquisition Documents) (“Third Party Royalties”), then the royalty payments becoming due to Owner under Section 6 of this Agreement with respect to production from the Additional Lands (but not from the remainder of the Property) shall be reduced by the amount of the Third Party Royalties on such production; (e) Following the inclusion of Additional Lands in the Property pursuant to this Section 1.2, the Parties shall take such actions and execute such instruments (including, without limitation, an amendment to this Agreement) as either Party may desire or as may be required under the terms of the Acquisition Documents or applicable law to subject the Additional Lands and the Acquisition Documents to the terms of this AgreementJoint Venture.

Area of Interest. Owner and TRC agree that an Area of Interest will be established around the claim group that constitutes the Property as of (a) Following the Execution Date. The Area of Interest shall be defined as that area shown on the map attached as Exhibit B hereto. Any property acquired by either Party , if a party (the “Acquiring PartyOfferor”) acquires directly or indirectly or pursuant to any third party agreement, any mining claim, lease, license or other form of interest in minerals, or surface or water rights (an “After-Acquired Property”) located wholly or in part within two kilometers of the Area outer boundary of Interest subsequent to the Effective Date may be included in and subject to this Agreement as if the newly acquired property Property (the “Additional LandsArea of Interest”) was listed in Exhibit A), subject to the Offeror will promptly (and in accordance with the following: (aany event within 30 days after such acquisition) the Acquiring Party shall provide offer to the other Party party (the “Non-Acquiring PartyOfferee”) written notice that such interest shall form part of the acquisitionProperty for all purposes of this Option Agreement by providing notice in writing setting out the nature of such After-Acquired Property and including all information known by the Offeror about such After-Acquired Property, including a description the Offeror’s acquisition costs and all other details relating thereto. Within 60 days from the date of the Additional Lands and copies receipt of such notice, the Offeree may accept that such After-Acquired Property shall form part of the Property for all location certificates or other instruments (including, without limitation, leases, purchase agreements and deeds) (purposes of this Option Agreement by notice in writing to the “Acquisition Documents”) pursuant to which the Additional Lands were acquired;Offeror. (b) if TRC is If the Acquiring Party, Offeree elects by notice in writing to make the Additional Lands shall be deemed After-Acquired Property part of the Property and to be included in and subject to this Agreement as if Option Agreement, then the Additional Lands were listed in Exhibit A;After-Acquired Property shall form a part of the Property for all purposes of this Option Agreement. (c) if Owner (or either If the Offeree does not give notice of them) is its intent to accept the Acquiring PartyAfter-Acquired Property within the 60 day time period noted in section 3.6(a), the Additional Lands Offeree shall not have any interest in the After-Acquired Property and the After-Acquired Property shall not be included in and a part of the Property or otherwise be subject to this Agreement as if the Additional Lands were listed in Exhibit A unless TRC notifies Owner, in writing, within sixty (60) days following TRC’s receipt of Owner’s notice, that TRC declines to include the Additional Lands under this Lease, in which event Owner shall be free to hold and operate such Additional Lands for its own account, free and clear of any claims by TRC; andOption Agreement. (d) if any Additional Lands If the Optionee is the Offeree and elects to make the After-Acquired Property part of the Property and to be subject to this Option Agreement, the Optionee shall reimburse the acquisition costs of the Optionor for acquiring such interest. (e) All costs of acquisition of an After-Acquired Property made subject to this Option Agreement pursuant to this Section 1.2 are burdened, as shall be considered exploration expenditures made by the Optionee towards fulfillment of the date of acquisition, by any royalties on production (including, without limitation, any royalties created by or under the Acquisition Documents) (“Third Party Royalties”), then the royalty payments becoming due to Owner under Section 6 of this Agreement with respect to production from the Additional Lands (but not from the remainder of the Property) shall be reduced by the amount of the Third Party Royalties on such production; (e) Following the inclusion of Additional Lands in the Property pursuant to this Section 1.2, the Parties shall take such actions and execute such instruments (including, without limitation, an amendment to this Agreement) as either Party may desire or as may be required under the terms of the Acquisition Documents or applicable law to subject the Additional Lands and the Acquisition Documents to the terms of this AgreementEarn-In Conditions.

Area of Interest. Owner and TRC agree that 12.1 If either party or any of its affiliates stakes or otherwise acquires any interest in mineral claims or any other form of mineral tenure (the "AOI Tenure") located wholly or partly in an area (the "Area of Interest will be established around the claim group that constitutes Interest") within two (2) kilometres from any portion of the Property as it exists at the date of execution of this Agreement, the acquiring party shall forthwith give notice to the other party of such staking or acquisition, the costs thereof and all details in its possession with respect to the nature of the Execution DateAOI Tenure and the known mineralization thereon. The Area Upon delivery of Interest shall be defined as that area shown on the map attached as Exhibit B hereto. Any property acquired by either Party (the “Acquiring Party”) within the Area of Interest subsequent to the Effective Date may be included in and subject to this Agreement as if the newly acquired property (the “Additional Lands”) was listed in Exhibit A, subject to and in accordance with the followingsuch notice: (a) if such notice is delivered prior to the Acquiring Party shall provide the other Party (the “Non-Acquiring Party”) written notice formation of the acquisitionJoint Venture, including a description the Optionee may elect, by notice to the Optionor, to require that such AOI Tenure be included in and thereafter form part of the Additional Lands Property. If the Optionee so elects and copies if such AOI Tenure was staked or acquired by the Optionee or any of all location certificates its affiliates, the staking or other instruments (includingacquisition costs shall constitute Exploration Expenditures. If the Optionee so elects and if such AOI Tenure was staked or acquired by the Optionor or any of its affiliates, without limitationthe Optionee shall reimburse the Optionor for the staking or acquisition costs, leases, purchase agreements and deeds) (the “Acquisition Documents”) pursuant to which the Additional Lands were acquired;reimbursed costs shall also constitute Exploration Expenditures; and (b) if TRC such notice is delivered after formation of the Acquiring PartyJoint Venture, the Additional Lands shall be deemed other party may elect, by notice to the acquiring party, to require that such AOI Tenure be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A; (c) if Owner (or either of them) is the Acquiring Party, the Additional Lands shall be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A unless TRC notifies Owner, in writing, within sixty (60) days following TRC’s receipt of Owner’s notice, that TRC declines to include the Additional Lands under this Lease, in which event Owner shall be free to hold and operate such Additional Lands for its own account, free and clear of any claims by TRC; and (d) if any Additional Lands made subject to this Agreement pursuant to this Section 1.2 are burdened, as of the date of acquisition, by any royalties on production (including, without limitation, any royalties created by or under the Acquisition Documents) (“Third Party Royalties”), then the royalty payments becoming due to Owner under Section 6 of this Agreement with respect to production from the Additional Lands (but not from the remainder thereafter form part of the Property) , provided that the other party then holds a participating interest in the Property. If such AOI Tenure becomes part of the Property, the party from whom or from whose affiliate such AOI Tenure was acquired shall be reduced by the amount reimbursed its staking or acquisition costs, and such reimbursement shall be deemed a cost of the Third Party Royalties on such production; (e) Following the inclusion of Additional Lands in the Property pursuant to this Section 1.2, the Parties shall take such actions and execute such instruments (including, without limitation, an amendment to this Agreement) as either Party may desire or as may be required under the terms of the Acquisition Documents or applicable law to subject the Additional Lands and the Acquisition Documents to the terms of this AgreementJoint Venture.

Area of Interest. Owner and TRC agree that an 8.1) During the term of this Agreement, either ICMC, Fox, or EC shall have the right to stake unpatented mining claims or prospecting sites or any other mineral interest ("Additional Claims") within one mile from the exterior boundaries of the Property (the "Area of Interest") and, subject to the provisions of this Section 8, any Additional Claims acquired during the term of this Agreement by either ICMC, Fox or EC within this Area of Interest will be established around the claim group that constitutes the Property as of the Execution Date. The Area of Interest shall be defined as that area shown on the map attached as Exhibit B hereto. Any property acquired by either Party (the “Acquiring Party”) within the Area of Interest subsequent to the Effective Date may be included in and subject to this Agreement as if the newly acquired property (the “Additional Lands”) was listed in Exhibit A, subject to and in accordance with the following: (a) the Acquiring Party shall provide the other Party (the “Non-Acquiring Party”) written notice of the acquisition, including a description of the Additional Lands and copies of all location certificates or other instruments (including, without limitation, leases, purchase agreements and deeds) (the “Acquisition Documents”) pursuant to which the Additional Lands were acquired; (b) if TRC is the Acquiring Party, the Additional Lands shall be deemed to be included in the Property and be subject to the terms of this Agreement as if Agreement. Any unpatented mining claims or prospecting sites or other mineral interest ("Third Party Claims") acquired by ICMC within the Area of Interest owned by third parties, shall not be subject to the terms of this Agreement, provided that such third parties were not introduced into the Area of Interest by ICMC. If Additional Claims are located by Fox or EC within the Area of Interest, Fox or EC shall provide written notice and documentation regarding the Additional Lands were listed in Exhibit A; (c) if Owner (or either of them) is the Acquiring Party, the Additional Lands Claims to ICMC and ICMC shall be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A unless TRC notifies Owner, in writing, within thereafter have sixty (60) days following TRC’s receipt of Owner’s notice, to provide written notice to Fox or EC that TRC declines to include it will accept or reject such Additional Claims for inclusion in this Agreement. If ICMC does not accept the Additional Lands under Claims, those Additional Claims shall not be included in this Lease, in which event Owner Agreement and Fox or EC shall be free to hold and operate such explore or develop those Additional Lands for its own account, free and clear of any claims by TRC; and (d) if any Additional Lands made subject to this Agreement pursuant to this Section 1.2 are burdened, as of the date of acquisition, by any royalties on production (including, without limitation, any royalties created by or under the Acquisition Documents) (“Third Party Royalties”), then the royalty payments becoming due to Owner under Section 6 Claims independent of this Agreement Agreement. 8.2) Provided, however, that with respect to production from any Additional Claims (within the Additional Lands (but not from the remainder Area of the PropertyInterest) shall be reduced by the amount of the Third Party Royalties on such production; (e) Following the inclusion of Additional Lands in the Property pursuant to this Section 1.2, the Parties shall take such actions and execute such instruments (including, without limitation, an amendment to this Agreement) as either Party may desire or as may be required under the terms of the Acquisition Documents or applicable law to that become subject the Additional Lands and the Acquisition Documents to the terms of this Agreement, ICMC shall be required to convey its interest in the Additional Claims to Fox as contemplated herein upon termination of this Agreement. Should either party conduct activities contemplated by the provisions of this Section 8 within the Area of Interest during the term of this Agreement, they shall notify the other party in writing within 30 days of the completion of each activity. For the purposes of TRI-PARTY LEASE AGREEMENT WITH A PURCHASE OPTION -9 this Agreement, Additional Claims shall not act to increase the Area of Interests Third Party Claims acquired by ICMC shall not require the payment of any Purchase NSR payments to Fox or EC. 8.3) Any Additional Claims shall become subject to all terms and conditions of this Agreement upon the giving by ICMC of the above-described notice of acceptances ICMC shall have no obligations to Fox, EC or others concerning any other Additional Claims wxxxxx xhe Area of Interest, except as set forth hereunder. 8.4) ICMC acknowledges that it has overstaked the Property. ICMC further acknowledges that Fox has superior rights and title to the Property and ICMC hereby agrees to convey and quit claim that portion of its SR Claims that overlap the Property to at the request of Fox. 8.5) ICMC shall provide Fox and EC Thirty (30) Days advance written notice of any plans to abandon any of the Additional Claims. 8.6) There is a certain interest in certain claims known as the Janets, that are within the Area of Interest that is undecided at this times This undecided interest and the Janets are specifically not included in this Agreement or subject to the Area of Interest provisions of this Agreements 8.7) If ICMC should sell, transfer or assign any claim or fraction thereof, of the J-M Reef (as the J-M Reef is known, as asserted by Stillwater Mining Companx xs of July 16, 1999), that is within the Area of Interest of this Agreement, then ICMC shall pay to Fox a one percent (1s0 %) Gross Royalty on the proceeds received by ICMC from such sale, transfer or assignment.

Area of Interest. Owner and TRC Sterling agree that that, during the term of this Agreement, an Area of Interest will be established around the each claim group that constitutes the Property as of the Execution DateProperty. The Area of Interest shall be defined as that area shown on within one mile of the map attached as exterior boundaries of the groups of unpatented mining claims described in Exhibit B hereto“A”. Any property acquired by either Party or interests therein (the “Acquiring PartyAdditional Lands”) acquired (whether by staking, leasing, purchase or otherwise) by Sterling within the Area of Interest subsequent to during the Effective Date may term of this Agreement, shall be included in and subject to this Agreement as if the newly acquired property (the “Additional Lands”) was listed in Exhibit “A” and thereafter shall be part of the Property under this Agreement. Promptly following any such acquisition, subject to and in accordance with the following: (a) the Acquiring Party Sterling shall provide the other Party (the “Non-Acquiring Party”) give written notice to Owner of the acquisition, which notice shall include a true and complete copy of all documents (including all documents relating to or evidencing the acquisition [“Acquisition Documents,]) and data relating to the Additional Lands. In the event that Owner or its affiliates (including, but not limited to, any person or entity controlling or under common control with Owner) acquires (whether by staking, leasing, purchase or otherwise) any Additional Lands within the Area of Interest during the term of this Agreement, Owner shall give written notice to Sterling of the acquisition, which notice shall include a description true and complete copy of all Acquisition Documents and data relating to the Additional Lands. Sterling may elect, by written notice to Owner within sixty (60) days following receipt of Owner’s notice, whether to include the Additional Lands and copies of all location certificates or other instruments (including, without limitation, leases, purchase agreements and deeds) (the “Acquisition Documents”) pursuant under this Agreement. If Sterling timely elects to which include the Additional Lands were acquired; (b) if TRC is the Acquiring Partyacquired by Owner under this Agreement, the Additional Lands shall be deemed to be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A; (c) if Owner (or either of them) is the Acquiring Party, then the Additional Lands shall be included in and subject to this Agreement as if the Additional Lands were listed in Exhibit A unless TRC notifies Owner, in writing, within sixty (60) days following TRC’s receipt “A” and thereafter shall be part of Owner’s notice, that TRC declines to include the Additional Lands Property under this Lease, in which event Owner shall be free to hold and operate such Additional Lands for its own account, free and clear of any claims by TRC; and (d) if any Additional Lands made subject to this Agreement pursuant to this Section 1.2 are burdened, as of the date of acquisition, by any royalties on production (including, without limitation, any royalties created by or under the Acquisition Documents) (“Third Party Royalties”), then the royalty payments becoming due to Owner under Section 6 of this Agreement with respect to production from the Additional Lands (but not from the remainder of the Property) shall be reduced by the amount of the Third Party Royalties on such production; (e) Agreement. Following the inclusion of Additional Lands in the Property pursuant to this Section 1.21, the Parties shall take such actions and execute such instruments (including, without limitation, an amendment to this Agreement) as either Party may desire or as may be required under the terms of the Acquisition Documents or applicable law to subject the Additional Lands and the Acquisition Documents to the terms of this Agreement. Nothing in this Agreement shall be construed to limit either Party’s right to apply for or otherwise acquire, on its own behalf and without any obligation whatsoever to the other, any right, title or interest whatsoever in or to any real property or mineral interests situated outside of the Area of Interest, and such right, title and interest shall not be subject to this Agreement.