Exploration and Development Rights Clause Samples

Exploration and Development Rights. Ammetco will grant the Property to Maneki for the Lease period with the exclusive right to explore, develop, and mine the Property for gold, silver, and other valuable minerals.

Exploration and Development Rights. (a) From and after such time as the License applied for by Cyprus shall be granted (the "Effective Date"), Cyprus shall be the owner of the full and undivided interest in the Property, and Cyprus shall have the sole and exclusive right and privilege, during the term of this Agreement, of exploring for, developing, and evaluating the feasibility of mining, treating, shipping, and otherwise exploiting and disposing of any and all ores, metals, minerals and materials found in, on, or under the lands included within the Property, all subject to the terms of the License, applicable laws and the lawful requirements of Zambian authorities. Without limitation to the foregoing, but subject always to the terms of the License and applicable laws and the lawful requirements of Zambian authorities, Cyprus shall ,be entitled ,within the lands subject to the Property and during the period of this Agreement to drill or otherwise sink boreholes, to dig or otherwise sink prospecting, ventilating, development, access or inter link shafts or drives, to prospect by geophysical or soil analysis surveys, to remove from the lands subject to the Property and to use samples taken from the lands subject to the Property, including block samples or borehole cores or other material, as Cyprus may see fit for crushing, testing, assaying, milling or analyzing the mineral content thereof or the recoverability of such contents and to remove and dispose of top soil or overburden and excess water, rock or soil. Cyprus further shall be entitled to use any existing buildings or permanent improvements on the surface of the lands subject to the Property. (b) Cyprus shall have the sole and exclusive right and privilege to do any and all things permitted or authorized under the License and applicable laws and the lawful requirements of the Zambian government which Cyprus may deem necessary or desirable to accomplish any and all of the purposes and rights set forth in or contemplated by this Agreement. At all times during the term of this Agreement, Cyprus shall be solely responsible for, and shall have exclusive control over, all exploration, development, evaluation and other work on the Property. (c) Subject to applicable laws, Cyprus' rights to use the surface of the lands subject to the Property in the conduct of its exploration, development and evaluation work hereunder may be exercised by Cyprus in connection with other mineral rights in and under lands in the general vicinity of the lands su...

Exploration and Development Rights. Upon the Parties’ execution of this Agreement, TRC shall have the exclusive right and privilege of entering upon the Property to Explore, Prospect for and Develop, but not Mine Minerals contained upon or within the Property. TRC shall have no right to Mine Minerals from the Property or use the Property for Mine purposes unless and until TRC’s Option to purchase the Property is exercised as provided herein.