CONSIDERATION FOR THE GRANT OF OPTION. 5.1 In order to keep the right and Option granted to [Placer] in respect of the Property in good standing and in force and effect, [Placer] shall be obligated to:
(a) CASH PAYMENTS Pay to [Mr. Almarez] as follows:
(i) $2000 upon execution of thix Xxxxxxxxx;
(b) PROPERTY PAYMENTS AND ASSESSMENT WORK Pay, or cause to be paid, to [Mr. Almarez], or on [Mr. Almarez]'s behalf as [Placer] xxx xxxxxxxxe, all Propxxxx xxxxxxxs and assessment work required to keep the Concessions and this Option in good standing during the term of this Agreement.
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option in respect of the Claim in good standing and in force and effect, Mobridge shall be obligated to:
(a) Pay to Laronde a total of $40,000 as follows:
(i) $3,500 immediately upon execution of this agreement by all parties;
(ii) an additional $6,500 by July 6, 2006;
(iii) an additional $10,000 by July 6, 2007; and
(iv) an additional $20,000 by July 6, 2008.
(b) Incur, or cause to be incurred, exploration work on the Claims totalling at least $145,000 by June 6, 2009, which work shall be conducted by Mobridge under the direction of a qualified geologist or project engineer, as follows:
(i) $6,000 in expenditures on the Claim by Dec 15, 2005. Mobridge’s completion of these expenditures is mandatory;
(ii) No less than a further $14,000 of expenditures to be incurred on the Claim by July 6, 2006;
(iii) No less than a further $25,000 of expenditures to be incurred on the Claim by July 6, 2007;
(iv) No less than a further $40,000 of expenditures to be incurred on the Claim by July 6, 2008; and
(v) No less than a further $60,000 of expenditures to be incurred on the Claim by July 6, 2009.
CONSIDERATION FOR THE GRANT OF OPTION. In order to keep the Option granted to Xxxxxxx in respect of the Property in good standing and in force and effect, the Parties will sign an agreement sale-purchase of the Property (“SPA”) by the end of the Option Period, where including but not limited Xxxxxxx shall be obligated to:
(a) Cash Payments
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option in respect of the Claim in good standing and in force and effect, New Inverness shall be obligated to:
(a) Pay to Cardinal a total of $33,000 as follows:
(i) $3,000 immediately upon execution of this agreement by all parties;
(ii) an additional $5,000 by May 25, 2006;
(iii) an additional $10,000 by May 25, 2007; and
(iv) an additional $15,000 by May 25, 2008.
(b) Incur, or cause to be incurred, exploration work on the Claims totalling at least $200,000 by May 25, 2008, which work shall be conducted by New Inverness under the direction of a qualified geologist or project engineer, as follows:
(i) $5,000 in expenditures on the Claim by Dec 31, 2005. New Inverness’ completion of these expenditures is mandatory;
(ii) No less than a further $15,000 of expenditures to be incurred on the Claim by May 25, 2006;
(iii) No less than a further $30,000 of expenditures to be incurred on the Claim by May 25, 2007;
(iv) No less than a further $50,000 of expenditures to be incurred on the Claim by May 25, 2008; and
(v) No less than a further $100,000 of expenditures to be incurred on the Claim by May 25, 2009.
(c) Stonechurch agrees to pay to Cardinal advance net smelter returns royalty payments on the Claim of $10,000 per year. Advance net smelter return royalty payments shall be due on the May 25 each year commencing May 31, 2010, and continuing on May 25 of each calendar year thereafter until this Agreement is terminated. All such advance net smelter returns royalty payments that New Inverness makes to Cardinal shall be fully credited toward any monies due under the provisions of paragraph 10.
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option in respect of the Claim in good standing and in force and effect, Stonechurch shall be obligated to: Cash Payment ------------ (a) Pay to Forbes a total of $50,000 as follows:
(i) $1,000 immediately upon execution of this agreement by all parties;
(ii) an additional $14,000 by September 15, 2005;
(iii) an additional $15,000 by March 15, 2007; and
(iv) an additional $20,000 by March 15, 2008.
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option granted to Scala in respect of the Claims in good standing and in force and effect, Scala shall be obligated to: Cash Payment ------------
(a) pay to Sostad a total of $13,000 as follows:
(i) $3, 000 by July 2, 2004; and (ii) an additional $10,000 by December 1, 2005; Expenditure Commitments -----------------------
(b) incur, or cause to be incurred, exploration and development work on the Claims totalling at least $150,000 by December 1, 2005, which work shall be conducted by Scala under the direction of a qualified geologist or project engineer, as follows:
(i) $5,000 in expenditures on the Claims by July 1, 2005;
(ii) an additional $45,000 in expenditures on the Claims by July 1, 2006; and
(iii) an additional $100,000 in expenditures on the Claims by July 1, 2007. Assessment Work ---------------
(c) pay, or cause to be paid, to Sostad, or on Sostad's behalf, as Scala may determine, all Claims payments and assessment work required to keep the Claims and this Option in good standing during the term of this Agreement.
CONSIDERATION FOR THE GRANT OF OPTION. In order to keep the Option granted to Auric in respect of the Property in good standing and in force and effect, Auric shall be obligated to:
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option granted to Zebra in respect of the Claims in good standing and in force and effect, Zebra shall be obligated to: Cash Payments
(a) Pay to the Optionor a total of $15,000 in the following manner:
(i) $5,000 by July 31, 2006;
(ii) an additional $5,000 by July 31, 2007; and
(iii) an additional $5,000 by July 31, 2008; Property Payments and Assessment Work
(b) Pay, or cause to be paid, to the Optionor, or on the Optionor behalf as Zebra may determine, all Claims payments and assessment work required to keep the Claims and this Option in good standing during the term of this Agreement.
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option granted to Northern in respect of the Claim in good standing and in force and effect, Northern shall be obligated to:
(a) pay to Xxxxx $2,500 by March 31, 2005
(b) incur, or cause to be incurred, exploration and development work on the Claim totalling at least $15,000 by December 1, 2006, which work shall be conducted by Northern under the direction of a qualified geologist or project engineer, as follows:
(i) $5,000 in expenditures on the Claim by December 31, 2005; and
(ii) an additional $10,000 in expenditures on the Claim by December 31, 2006;
(c) pay, or cause to be paid, to Xxxxx, or on Xxxxx’x behalf, as Northern may determine, all Claim payments and assessment work required to keep the Claim and this Option in good standing during the term of this Agreement.
CONSIDERATION FOR THE GRANT OF OPTION. 4.1 In order to keep the Option granted to LFM in respect of the Claims in good standing and in force and effect, LFM shall be obligated to: Cash Payments
(a) Pay to the Optionor a total of $15,000 in the following manner:
(i) $2,500 by June 30, 2008;
(ii) an additional $5,000 by June 30, 2009; and
(iii) an additional $7,500 by June 30, 2010;
4.2 In order to keep the Option granted to LFM in respect of the Claims in good standing and in force and effect, the Optionor shall be obligated to: Property Payments and Assessment Work
