Common use of Grant of Exploration License Clause in Contracts

Grant of Exploration License. Owners hereby grant to Xxxxx the exclusive right and option to enter upon and explore the Mineral Property. The Exploration License shall have a term of Two (2) years commencing on execution of this agreement by both parties (the "Effective Date"). During the term of the license, Xxxxx shall have the right to undertake geological, geophysical, and geochemical examinations of the Mineral Property, to sample the Mineral Property by means of pits, trenches, and drilling by any means, and to take bulk samples from the Mineral Property for the purpose of conducting mineralogical tests, etc. However, Xxxxx shall not commence mining activities on the Mineral Property unless it exercises its option to purchase set forth in Section 2 below.

Grant of Exploration License. Owners hereby grant to Xxxxx the exclusive right and option to enter upon and explore the Mineral Property. The Exploration License shall have a term of Two (2) years commencing on execution of this agreement by both parties (the "Effective Date"). During the term of the license, Xxxxx shall have the right to undertake geological, geophysical, and geochemical examinations of the Mineral Property, to sample the Mineral Property by means of pits, trenches, and drilling by any means, and to take mini-bulk samples (not to exceed 1 ton total) from the Mineral Property for the purpose of conducting mineralogical tests, etc. However, Xxxxx shall not commence mining activities on the Mineral Property unless it exercises its option to purchase set forth in Section 2 below.

Grant of Exploration License. Owners hereby grant to Xxxxx the exclusive right and option to enter upon and explore the Mineral Property. The Exploration License shall have a term of Two Five (25) years commencing on execution of this agreement by both parties (the "Effective Date"). During the term of the license, Xxxxx shall have the right to undertake geological, geophysical, and geochemical examinations of the Mineral Property, ; to sample the Mineral Property by means of pits, trenches, and drilling by any means, ; and to take mini-bulk samples (not to exceed 1 ton total) from the Mineral Property for the purpose of conducting mineralogical tests, etc. However, Xxxxx shall not commence mining activities on the Mineral Property unless it exercises its option to purchase set forth in Section 2 below.