EUREKA CREEK MEMORANDUM OF UNDERSTANDING
MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding, effective this the 5th day of January, 1999,
by and between Nevada Star Resource Corporation, hereinafter referred to as
"NEV", a Nevada corporation listed on the Vancouver Stock Exchange (NEV.V) with
its principal address at 00000 Xxxxx Xxx. Xxxxx, Xxxxxxx, XX. 00000, and M.A.N.
Resources Inc., hereinafter referred to as "MAN", a Washington corporation with
its principal address at XX Xxx 0000, Xxxxxxxx, XX 00000.
WHEREAS, NEV is the owner of, or otherwise controls, approximately 10,620 acres
of mining claims located near Xxxxxxx Gulch and Tangle Lakes, Alaska, consisting
of 327 federal lode mining claims, 7 State of Alaska mining claims and 11 Alaska
Prospecting Sites more particularly set forth in Attachment A hereto and
hereinafter referred to as "the Subject Claims", and
WHEREAS, NEV desires to convey its interests in the Subject Claims to MAN
subject to the terms and conditions set forth herein, and
WHEREAS, MAN desires to lease the Subject Claims to explore and develop minerals
thereon in conjunction with its efforts to explore and develop MAN's other
claims in the Xxxxxxx Gulch and Tangle Lakes areas, Alaska, and
WHEREAS, in and for the amount of $10.00 in cash paid and other good and
valuable consideration paid by MAN the receipt and sufficiency of which are
hereby acknowledged, then
BE IT KNOWN THAT, pursuant to the terms and conditions set forth in this
Memorandum of Understanding, the undersigned do agree as follows:
1. NEV does hereby lease the Subject Claims to MAN for a period of ten years
and for so long thereafter as commercial production is continuing, or as may be
agreed to by both parties hereto, in a formal Mining Lease and Sale Agreement to
be negotiated and entered into not later than 12 (twelve) months after the date
set forth above.
2. MAN agrees to hold and protect the Subject Claims and to make all
payments when due to the government of the United States of America and the
State of Alaska as may be required under the laws pertaining to federal and
State of Alaska mining claims.
3. MAN further agrees to explore and develop the Subject Claims in a
minerlike fashion and to abide by any and all laws and regulations pertaining to
environmental protection.
4. MAN shall be entitled to earn a net 75% (seventy-five percent) working
interest in the Subject Claims upon the expenditure of $75,000 (seventy-five
thousand dollars) in exploration and development costs during the 24
(twenty-four) month period commencing as of the date of this Memorandum of
Understanding. "Exploration and development costs" includes leasehold costs.
5. NEV shall retain a net 25% (twenty-five percent) working interest in the
Subject Claims after MAN has expended the sum of $75,000 (seventy-five thousand
dollars) in exploration and development costs pertaining to the Subject Claims.
71
6. To maintain its working interest at 25% (twenty-five percent) during the
term of this lease, NEV shall be obligated to pay MAN 25% (twenty-five percent)
of all exploration and development costs in excess of the initial $75,000
(seventy- five thousand dollars) spent by MAN on the Subject Claims. If NEV
fails to provide such funds, NEV's working interest in the Subject Claims shall
be reduced by the quotient of $75,000 divided by $75,000 plus the total of
uncompensated costs of exploration and development regarding the Subject Claims
paid by MAN.
7. In the event NEV elects not to contribute its share of exploration and
development costs, or any part thereof, the interest of NEV shall be reduced,
but at no time shall NEV's interest be reduced to less than a net smelter return
royalty in the amount of one percent (1.0%) of the gross proceeds obtained from
the sale of any and all minerals, metals or valuable commodities recovered from
or sold pursuant to mining activities on the Subject Claims. Said net smelter
return shall be less deductions on a pro rata basis for the cost of
transportation, insurance, and storage fees incurred by MAN, and less a pro rata
share of any and all smelting fees and smelter penalties as may be assessed by
any smelter selected by MAN for the recovery of any and all minerals, metals or
valuable commodities produced from the Subject Properties.
8. MAN shall have the right to buy and NEV shall have the obligation to sell
to MAN all the right, title, and interest of NEV in the Subject Claims free and
clear of any and all retained net smelter return interest upon the conveyance by
MAN to NEV of 106,200 (one hundred six thousand two hundred) shares of MAN
capital stock, if said number of shares of capital stock are tendered on or
before the second anniversary of the date of this Memorandum of Understanding.
9. It is the intent of the parties hereto to commit the terms of this
Memorandum of Understanding to a formal Mining Lease and Sale Agreement within a
period not to exceed 12 (twelve) months from the date first above written. Said
formal Mining Lease and Sale Agreement shall set forth such particulars as may
be appropriate or required by the United States Securities and Exchange
Commission or the Vancouver Stock Exchange or other Board having appropriate
jurisdiction over the subject matter herein so as to promote the efficient and
expeditious exploration and development of the Subject Properties and the intent
of the parties hereto.
10. MAN shall be deemed in default if it fails to expend the initial
$75,000.00 or subsequently fails to maintain the property in good standing.
THE TERMS AND CONDITIONS OF THIS MEMORANDUM OF UNDERSTANDING are agreed to and
become binding on the respective parties whose authority are acknowledged as set
forth below:
By: /S/ Xxxxx X. Xxxxx By: /S/ Xxxxxx Xxxxxxxxx
--------------------------- ------------------------------
Xxxxx X. Xxxxx, President Xxxxxx Xxxxxxxxx, President
Nevada Star Resource Corp. M.A.N. Resources
72
ATTACHMENT "A"
THE FOLLOWING LIST OF MINING CLAIMS, CONSTITUTING APPROXIMATELY 10,620 ACRES,
PERTAINS TO THE "MEMORANDUM OF UNDERSTANDING" BETWEEN NEVADA STAR RESOURCE
CORPORATION AND M.A.N. RESOURCES, INC.
(BEGIN 9 PT TYPE)
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
BAY 1 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/365 AA80007
BAY 2 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/368 AA80008
BAY 3 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/369 AA80009
BAY 4 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/370 AA80010
BAY 5 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/371 AA80011
BAY 6 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/372 AA80012
BAY 7 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/373 AA80013
BAY 8 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/374 AA80014
BAY 9 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/375 AA80015
BAY 10 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/376 AA80016
BAY 11 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/377 AA80017
BAY 12 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/378 AA80018
3/27/97 18S 10E 31
BAY 13 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/379 AA80019
3/27/97 18S 10E 31
BAY 14 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/380 AA80020
3/27/97 18S 10E 31
BAY 15 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/381 AA80021
3/27/97 18S 10E 31
BAY 16 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/382 AA80022
3/27/97 18S 10E 31
BAY 17 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/383 AA80023
3/27/97 18S 10E 31
BAY 18 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/384 AA80024
3/27/97 18S 10E 31
BAY 19 3/27/97 18S 9E 36 Fairbanks 5/16/97 1002/385 AA80025
3/27/97 18S 10E 31
BAY 20 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/386 AA80026
BAY 21 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/387 AA80027
BAY 22 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/388 AA80028
BAY 23 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/389 AA80029
BAY 24 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/390 AA80030
BAY 25 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/391 AA80031
BAY 26 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/392 AA80032
BAY 27 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/393 AA80033
BAY 28 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/394 AA80034
BAY 29 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/395 AA80035
BAY 30 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/396 AA80036
BAY 31 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/397 AA80037
BAY 32 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/398 AA80038
BAY 33 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/399 AA80039
BAY 34 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/400 AA80040
BAY 35 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/401 AA80041
BAY 36 3/27/97 19S 10E 6 Fairbanks 5/16/97 1002/402 AA80042
3/27/97 18S 10E 31
BAY 37 3/27/97 19S 10E 6 Fairbanks 5/16/97 1002/403 AA80043
BAY 38 3/27/97 19S 10E 6 Fairbanks 5/16/97 1002/404 AA80044
BAY 39 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/405 AA80045
BAY 40 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/406 AA80046
BAY 41 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/407 AA80047
BAY 42 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/408 AA80048
BAY 43 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/409 AA80049
BAY 44 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/410 AA80050
BAY 45 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/411 AA80051
73
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
BAY 46 3/27/97 18S 10E 31 Fairbanks 5/16/97 1002/412 AA80052
BAY 47 3/26/97 19S 10E 6 Fairbanks 5/16/97 1002/413 AA80053
18S 10E 31
BAY 48 3/26/97 19S 10E 6 Fairbanks 5/16/97 1002/414 AA80054
BAY 49 3/26/97 19S 10E 6 Fairbanks 5/16/97 1002/415 AA80055
BAY 50 3/26/97 19S 10E 6 Fairbanks 5/16/97 1002/416 AA80056
BAY 51 3/26/97 19S 10E 6 Fairbanks 5/16/97 1002/417 AA80057
BAY 52 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/418 AA80058
BAY 53 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/419 AA80059
BAY 54 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/420 AA80060
BAY 55 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/421 AA80061
BAY 56 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/422 AA80062
BAY 57 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/423 AA80063
BAY 58 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/424 AA80064
BAY 59 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/425 AA80065
BAY 60 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/426 AA80066
18S 10E 32
BAY 61 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/427 AA80067
BAY 62 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/428 AA80068
BAY 63 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/429 AA80069
BAY 64 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/430 AA80070
BAY 65 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/431 AA80071
BAY 66 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/432 AA80072
BAY 67 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/433 AA80073
BAY 68 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/434 AA80074
BAY 69 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/435 AA80075
BAY 70 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/436 AA80076
BAY 71 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/437 AA80077
BAY 72 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/438 AA80078
BAY 73 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/439 AA80079
BAY 74 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/440 AA80080
BAY 75 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/441 AA80081
BAY 76 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/442 AA80082
BAY 77 3/25/97 18S 10E 32 Fairbanks 5/16/97 1002/443 AA80083
19S 10E 5
BAY 78 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/444 AA80084
BAY 79 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/445 AA80085
BAY 80 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/446 AA80086
BAY 81 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/447 AA80087
BAY 82 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/448 AA80088
BAY 83 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/449 AA80089
BAY 84 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/450 AA80090
BAY 85 3/25/97 19S 10E 5 Fairbanks 5/16/97 1002/451 AA80091
BAY 86 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/452 AA80092
BAY 87 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/453 AA80093
BAY 88 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/454 AA80094
BAY 89 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/455 AA80095
BAY 90 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/456 AA80096
BAY 91 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/457 AA80097
BAY 92 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/458 AA80098
BAY 93 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/459 AA80099
BAY 94 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/460 AA80100
18S 10E 32
BAY 95 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/461 AA80101
BAY 96 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/462 AA80102
BAY 97 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/463 AA80103
BAY 98 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/464 AA80104
BAY 99 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/465 AA80105
BAY 100 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/466 AA80106
BAY 101 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/467 AA80107
BAY 102 3/24/97 19S 10E 5 Fairbanks 5/16/97 1002/468 AA80108
74
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
X-0 0/0/00 00X 0X 00 Xxxxxxxxx 10/31/96 977/334 AA78954
18S 9E 36
X-0 0/0/00 00X 0X 00 Xxxxxxxxx 10/31/96 977/335 AA78955
18S 9E 36
X-0 0/0/00 00X 0X 00 Xxxxxxxxx 10/31/96 977/336 AA78956
18S 9E 36
X-0 0/0/00 00X 0X 00 Xxxxxxxxx 10/31/96 977/337 AA78957
18S 9E 36
X-0 0/0/00 00X 00X 00 Xxxxxxxxx 10/31/96 977/338 AA78958
18S 10E 31
X-0 0/0/00 00X 00X 00 Xxxxxxxxx 10/31/96 977/339 AA78959
18S 10E 31
X-0 0/0/00 00X 00X 00 Xxxxxxxxx 10/31/96 977/340 AA78960
18S 10E 31
X-0 0/0/00 00X 00X 00 Xxxxxxxxx 10/31/96 977/341 AA78961
18S 10E 31
X-0 0/0/00 00X 00X 00 Xxxxxxxxx 10/31/96 977/342 AA78962
18S 10E 31
E-10 8/6/96 18S 10E 30 Fairbanks 10/31/96 977/343 AA78963
18S 10E 31
E-11 8/6/96 18S 10E 30 Fairbanks 10/31/96 977/344 AA78964
18S 10E 31
E-13 8/6/96 18S 9E 25 Fairbanks 10/31/96 977/345 AA78965
E-14 8/6/96 18S 9E 25 Fairbanks 10/31/96 977/346 AA78966
E-15 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/347 AA78967
E-16 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/348 AA78968
E-17 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/349 AA78969
E-18 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/350 AA78970
E-19 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/351 AA78971
E-20 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/352 AA78972
E-21 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/353 AA78973
E-22 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/354 AA78974
E-23 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/355 AA78975
E-24 8/5/96 18S 10E 30 Fairbanks 10/31/96 977/356 AA78976
E-25 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/357 AA78977
18S 10E 30
E-26 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/358 AA78978
E-27 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/359 AA78979
E-28 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/360 AA78980
E-29 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/361 AA78981
E-30 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/362 AA78982
E-31 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/363 AA78983
E-32 8/5/96 18S 10E 29 Fairbanks 10/31/96 977/364 AA78984
E-33 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/365 AA78985
18S 10E 29
E-34 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/366 AA78986
E-35 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/367 AA78987
E-36 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/368 AA78988
E-49 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/250 AA80503
18S 10E 32
E-50 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/252 AA80504
18S 10E 32
E-51 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/253 AA80505
18S 10E 32
E-52 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/254 AA80506
18S 10E 32
E-53 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/255 AA80507
18S 10E 32
75
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
E-54 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/256 AA80508
18S 10E 32
E-55 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/257 AA80509
18S 10E 32
E-56 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/258 AA80510
18S 10E 32
E-57 4/13/97 18S 10E 29 Fairbanks 7/8/97 1012/259 AA80511
18S 10E 30
18S 10E 31
18S 10E 32
E-58 4/13/97 18S 10E 30 Fairbanks 7/8/97 1012/260 AA80512
18S 10E 31
E-97 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/383 AA79003
18S 9E 35
E-98 8/6/96 18S 10E 29 Fairbanks 10/31/96 977/384 AA79004
E-99 8/6/96 18S 10E 29 Fairbanks 10/31/96 977/385 AA79005
E-100 8/6/96 18S 10E 28 Fairbanks 10/31/96 977/386 AA79006
18S 10E 29
E-101 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/387 AA79007
E-102 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/388 AA79008
E-103 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/389 AA79009
E-104 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/390 AA79010
E-105 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/391 AA79011
E-106 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/392 AA79012
E-107 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/393 AA79013
E-108 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/394 AA79014
E-109 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/395 AA79015
E-110 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/396 AA79016
E-111 8/5/96 18S 10E 28 Fairbanks 10/31/96 977/397 AA79017
18S 10E 29
E-112 8/6/96 18S 10E 29 Fairbanks 10/31/96 977/398 AA79018
E-113 8/6/96 18S 10E 29 Fairbanks 10/31/96 977/399 AA79019
E-118 8/6/96 18S 10E 21 Fairbanks 10/31/96 977/400 AA79020
E-119 8/6/96 18S 10E 21 Fairbanks 10/31/96 977/401 AA79021
E-134 8/6/96 18S 10E 21 Fairbanks 10/31/96 977/402 AA79022
E-135 8/6/96 18S 10E 21 Fairbanks 10/31/96 977/403 AA79023
E-144 8/6/96 18S 10E 21 Fairbanks 10/31/96 977/404 AA79024
E-145 8/6/96 18S 10E 21 Fairbanks 10/31/96 977/405 AA79025
E-179 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/406 AA79026
18S 9E 35
E-180 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/407 AA79027
18S 9E 35
E-181 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/408 AA79028
18S 9E 35
E-182 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/409 AA79029
18S 9E 35
E-183 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/410 AA79030
18S 9E 35
E-184 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/411 AA79031
18S 9E 35
E-185 8/11/96 18S 9E 26 Fairbanks 10/31/96 977/412 AA79032
18S 9E 35
E-186 8/11/96 18S 9E 25 Fairbanks 10/31/96 977/413 AA79033
18S 9E 26
18S 9E 35
18S 9E 36
E-187 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/414 AA79034
18S 9E 36
76
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
E-188 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/415 AA79035
E-189 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/416 AA79036
E-190 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/417 AA79037
E-191 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/418 AA79038
E-192 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/419 AA79039
E-193 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/420 AA79040
E-194 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/421 AA79041
E-195 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/422 AA79042
E-196 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/423 AA79043
E-197 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/424 AA79044
E-198 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/425 AA79045
18S 9E 36
E-199 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/426 AA79046
18S 9E 36
E-200 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/427 AA79047
E-201 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/428 AA79048
E-202 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/429 AA79049
E-203 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/430 AA79050
E-204 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/431 AA79051
E-205 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/432 AA79052
E-206 8/5/96 18S 9E 24 Fairbanks 10/31/96 977/433 AA79053
E-207 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/434 AA79054
E-208 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/435 AA79055
E-209 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/436 AA79056
E-210 8/5/96 18S 9E 25 Fairbanks 10/31/96 977/437 AA79057
18S 9E 36
P-107 8/12/97 18S 9E 27 Fairbanks 11/5/97 977/795 AA79228
18S 9E 34
P-108 8/12/97 18S 9E 27 Fairbanks 11/5/97 977/798 AA79229
18S 9E 34
P-109 8/12/97 18S 9E 27 Fairbanks 11/5/97 977/797 AA79230
18S 9E 34
P-110 8/12/97 18S 9E 27 Fairbanks 10/31/96 977/322 AA79072
18S 9E 34
P-111 8/12/97 18S 9E 27 Fairbanks 10/31/96 977/323 AA79073
18S 9E 34
P-112 8/12/97 18S 9E 27 Fairbanks 10/31/96 977/324 AA79074
18S 9E 34
P-113 8/12/97 18S 9E 27 Fairbanks 10/31/96 977/325 AA79075
18S 9E 34
P-114 8/12/97 18S 9E 26 Fairbanks 10/31/96 977/326 AA79076
18S 9E 27
18S 9E 34
18S 9E 35
SX-1 9/5/96 18S 10E 19 Fairbanks 10/31/96 977/242 AA78948
SX-2 9/5/96 18S 10E 19 Fairbanks 10/31/96 977/244 AA78949
SX-3 9/5/96 18S 10E 19 Fairbanks 10/31/96 977/245 AA78950
18S 10E 20
SX-4 9/6/96 18S 10E 21 Fairbanks 10/31/96 977/246 AA78951
SX-5 9/6/96 18S 10E 21 Fairbanks 10/31/96 977/247 AA78952
SX-6 9/6/96 18S 10E 21 Fairbanks 10/31/96 977/248 AA78953
BAY 103 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/469 AA80109
BAY 104 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/470 AA80110
BAY 105 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/471 AA80111
BAY 106 3/26/97 18S 10E 32 Fairbanks 5/16/97 1002/472 AA80112
BAY 107 3/24/97 18S 10E 32 Fairbanks 5/16/97 1002/473 AA80113
BAY 108 3/24/97 18S 10E 32 Fairbanks 5/16/97 1002/474 AA80114
BAY 109 3/24/97 18S 10E 32 Fairbanks 5/16/97 1002/475 AA80115
BAY 110 3/24/97 18S 10E 32 Fairbanks 5/16/97 1002/476 AA80116
77
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
BAY 240 3/31/97 18S 9E 13 Fairbanks 5/16/97 1002/606 AA80244
18S 10E 18
BAY 241 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/609 AA80245
18S 10E 19
BAY 242 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/610 AA80246
18S 10E 19
BAY 243 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/611 AA80247
18S 10E 19
BAY 244 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/612 AA80248
18S 10E 19
BAY 245 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/613 AA80249
18S 10E 19
BAY 246 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/614 AA80250
18S 10E 19
BAY 247 3/31/97 18S 9E 24 Fairbanks 5/16/97 1002/615 AA80251
18S 10E 19
BAY 248 3/31/97 18S 10E 18 Fairbanks 5/16/97 1002/616 AA80252
BAY 249 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/617 AA80253
BAY 250 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/618 AA80254
BAY 251 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/619 AA80255
BAY 252 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/620 AA80256
BAY 253 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/621 AA80257
BAY 254 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/622 AA80258
BAY 255 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/623 AA80259
BAY 256 3/31/97 18S 10E 18 Fairbanks 5/16/97 1002/624 AA80260
BAY 257 3/31/97 18S 10E 18 Fairbanks 5/16/97 1002/625 AA80261
BAY 258 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/626 AA80262
BAY 259 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/627 AA80263
BAY 260 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/628 AA80264
BAY 261 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/629 AA80265
BAY 262 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/630 AA80266
BAY 263 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/631 AA80267
BAY 264 3/31/97 18S 10E 19 Fairbanks 5/16/97 1002/632 AA80268
BAY 265 3/31/97 18S 10E 17,18 Fairbanks 5/16/97 1002/633 AA80269
BAY 266 3/31/97 18S 10E 17,18 Fairbanks 5/16/97 1002/634 AA80270
BAY 267 3/31/97 18S 10E 19,20 Fairbanks 5/16/97 1002/635 AA80271
BAY 268 3/31/97 18S 10E 19,20 Fairbanks 5/16/97 1002/636 AA80272
BAY 269 3/31/97 18S 10E 19,20 Fairbanks 5/16/97 1002/637 AA80273
BAY 270 3/31/97 18S 10E 19,20 Fairbanks 5/16/97 1002/638 AA80274
BAY 271 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/639 AA80275
BAY 272 3/31/97 18S 10E 17 Fairbanks 5/16/97 1002/640 AA80276
BAY 273 3/31/97 18S 10E 17 Fairbanks 5/16/97 1002/641 AA80277
BAY 274 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/642 AA80278
BAY 275 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/643 AA80279
BAY 276 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/644 AA80280
BAY 277 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/645 AA80281
BAY 278 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/646 AA80282
BAY 279 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/647 AA80283
BAY 280 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/648 AA80284
BAY 281 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/649 AA80285
BAY 282 3/31/97 18S 10E 20,29 Fairbanks 5/16/97 1002/650 AA80286
BAY 283 3/31/97 18S 10E 17 Fairbanks 5/16/97 1002/651 AA80287
BAY 284 3/31/97 18S 10E 17 Fairbanks 5/16/97 1002/652 AA80288
BAY 285 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/653 AA80289
BAY 286 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/654 AA80290
BAY 287 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/655 AA80291
BAY 288 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/656 AA80292
BAY 289 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/657 AA80293
BAY 290 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/658 AA80294
78
LOCATION RECORDING DATE BLM
CLAIM NAME DATE TWP RGE SEC DISTRICT RECORDED BK/PG/DOC SERIAL NO.
----------- --------- ----- ----- ----- ------------ ---------- ----------- -----------
BAY 291 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/659 AA80295
BAY 292 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/660 AA80296
BAY 293 3/31/97 18S 10E 20,29 Fairbanks 5/16/97 1002/661 AA80297
BAY 294 3/31/97 18S 10E 17 Fairbanks 5/16/97 1002/662 AA80298
BAY 295 3/31/97 18S 10E 17 Fairbanks 5/16/97 1002/663 AA80299
BAY 296 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/664 AA80300
BAY 297 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/665 AA80301
BAY 298 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/666 AA80302
BAY 299 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/667 AA80303
BAY 300 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/668 AA80304
BAY 301 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/669 AA80305
BAY 302 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/670 AA80306
BAY 303 3/31/97 18S 10E 20 Fairbanks 5/16/97 1002/671 AA80307
BAY 304 3/31/97 18S 10E 20,29 Fairbanks 5/16/97 1002/672 AA80308
BAY 305 3/31/97 18S 10E 16,17 Fairbanks 5/16/97 1002/673 AA80309
BAY 306 3/31/97 18S 10E 16,17 Fairbanks 5/16/97 1002/674 AA80310
BAY 307 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/675 AA80311
BAY 308 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/676 AA80312
BAY 309 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/677 AA80313
BAY 310 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/678 AA80314
BAY 311 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/679 AA80315
BAY 312 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/680 AA80316
BAY 313 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/681 AA80317
BAY 314 3/31/97 18S 10E 20,21 Fairbanks 5/16/97 1002/682 AA80318
BAY 315 3/31/97 18S 10E 20,21
28,29 Fairbanks 5/16/97 1002/683 AA80319
BAY 316 3/31/97 18S 10E 16 Fairbanks 5/16/97 1002/684 AA80320
BAY 317 3/31/97 18S 10E 16 Fairbanks 5/16/97 1002/685 AA80321
BAY 318 3/31/97 18S 10E 21 Fairbanks 5/16/97 1002/686 AA80322
BAY 319 3/31/97 18S 10E 21 Fairbanks 5/16/97 1002/687 AA80323
BAY 320 3/31/97 18S 10E 16 Fairbanks 5/16/97 1002/688 AA80324
BAY 321 3/31/97 18S 10E 16 Fairbanks 5/16/97 1002/689 AA80325
BAY 322 3/31/97 18S 10E 21 Fairbanks 5/16/97 1002/690 AA80326
BAY 323 3/31/97 18S 10E 21 Fairbanks 5/16/97 1002/691 AA80327
BAY 324 3/31/97 18S 10E 21 Fairbanks 5/16/97 1002/692 AA80328
BAY 325 3/31/97 18S 10E 15.16 Fairbanks 5/16/97 1002/693 AA80329
BAY 326 3/31/97 18S 10E 15.16 Fairbanks 5/16/97 1002/694 AA80330
BAY 327 3/31/97 18S 10E 21,22 Fairbanks 5/16/97 1002/695 AA80331
BAY 328 3/31/97 18S 10E 21,22 Fairbanks 5/16/97 1002/696 AA80332
BAY 329 3/31/97 18S 10E 21,22 Fairbanks 5/16/97 1002/697 AA80333
BAY 330 3/31/97 18S 10E 21,22 Fairbanks 5/16/97 1002/698 AA80334
BAY 427 8/1/97 18S 10E 15 Fairbanks 9/17/97 1024/900 AA80589
BAY 428 8/1/97 18S 10E 15 Fairbanks 9/17/97 1024/902 AA80590
BAY 429 8/1/97 18S 10E 22 Fairbanks 9/17/97 1024/903 AA80591
BAY 430 8/1/97 18S 10E 22 Fairbanks 9/17/97 1024/904 AA80592
BAY 431 8/1/97 18S 10E 22 Fairbanks 9/17/97 1024/905 AA80593
BAY 432 8/1/97 18S 10E 22 Fairbanks 9/17/97 1024/906 AA80594
BAY 433 8/1/97 18S 10E 15 Fairbanks 9/17/97 1024/907 AA80595
BAY 434 8/1/97 18S 10E 15 Fairbanks 9/17/97 1024/908 AA80596
(END 9 PT TYPE)
79
Nevada Star Resource Corp
00000 Xxxxx Xxxxxx Xxxxx
Xxxxxxx, XX 00000
Phone: (000) 000-0000
Fax: (000) 000-0000
December 15, 1999
M.A.N. Resources, Inc.
00000 Xxxxx Xxx. Xxxxx
Xxxxxxx, XX 00000
Attention: Xxxxxx Xxxxxxxxx, President
Re: Nevada Star Resource Corporation (the "Company") - M.A.N. Resources, Inc.
Dear Xxx:
We refer to that certain memorandum of understanding dated January 5, 1999 (the
"Memorandum of Understanding") between the Company and M.A.N. Resources, Inc.
("M.A.N.") whereby the Company leased to M.A.N. approximately 8,580 acres of
mining claims located near the Xxxxxxx Gulch and Tangle Lakes area of Alaska.
Paragraph 9 of the Memorandum of Understanding contains a provision whereby the
parties agreed that the same would be superceded and replaced by a formal Mining
Lease and Sale Agreement (the "Formal Agreement") within a period not to exceed
twelve (12) months from the date of the Agreement.
In consideration of the sum of $1.00 now paid by the parties, each party to the
other, it is agreed that, in the event that the Formal Agreement has not been
executed by January 4, 2000, the Memorandum of Understanding will continue in
full force and effect until such time as the Formal Agreement has been executed,
subject to any default provisions contained therein. Notwithstanding this
extension, the parties agree to use their best efforts to ensure that the Formal
Agreement is prepared and executed without undue delay. The parties agree the
costs of the preparation of the Formal Agreement will be borne by M.A.N.
Resources.
The parties also confirm that all currency amounts contained in the Memorandum
of Understanding are expressed in United States dollars.
Yours truly,
NEVADA STAR RESOURCE CORPORATION
/S/ Xxxxx X. Xxxxx
Per: ____________________________________
Xxxxx X. Xxxxx
Agreed and accepted this 15th day of December 1999.
M.A.N. RESOURCES, INC.
/S/ Xxxxxx Xxxxxxxxx
Per: ___________________________
Xxxxxx Xxxxxxxxx, President
80