THIRD AMENDMENT TO MINING LEASE AGREEMENT
Exhibit 99.2
THIRD AMENDMENT TO MINING LEASE AGREEMENT
THIS THIRD AMENDMENT TO MINING LEASE AGREEMENT (the “Third Amendment”) is made and entered into effective as of May 23, 2013 (the “Effective Date”), by and among Xxxx X. and Xxxxx Xxxxxxxxxx, husband and wife, whose address is X.X. Xxx 000, Xxxxxx, Xxxxxx 00000 (collectively, “Xxxxxxxxxx”), Mt. Xxxxxxxx LLC, a Colorado limited liability company, whose address is 0000 Xxxxxxx Xxxxxx, Xxxxx 000, Xxxxx Xxxxx, Xxxxxxxx 00000 (“MH LLC”), and (for the limited purposes set forth in Paragraphs E and F below) Solitario Exploration & Royalty Corp., a Colorado corporation (“Solitario”) and the Manager of MH LLC, whose address is the same as that of MH LLC.
RECITALS
1. Xxxxxxxxxx and MH LLC are parties to a Mining Lease Agreement dated March 20, 2006, as amended by that Amendment to Mining Lease Agreement dated June 14, 2007, and further amended by that Agreement and Second Amendment to Mining Lease Agreement dated March 11, 2011 (collectively, the “Xxxxxxxxxx Lease”), as referenced in that Memorandum of Lease and Assignment dated October 2, 2007 and recorded in the official records of White Pine County, Nevada on February 21, 2008, as Document No. 341952.
2. The Xxxxxxxxxx Lease allows MH LLC to conduct exploration, development, mining and related activities on certain unpatented mining claims owned by Xxxxxxxxxx in White Pine County, Nevada, as more particularly described in Exhibit A attached hereto and incorporated herein by reference.
3. Xxxxxxxxxx and MH LLC have agreed to make certain amendments to the Xxxxxxxxxx Lease as set forth in this Third Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and promises contained in this Third Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confirmed, the parties hereto agree as follows:
X. Xxxxxxxxxx and MH LLC agree as follows with respect to Section 3.6 of the Xxxxxxxxxx Lease:
(1) The first paragraph of Section 3.6 is revised to read as follows:
3.6 Work Commitment. There
is no work commitment for the Lease Years ending June 1, 2013, June 1, 2014 or June 1, 2015. During each Lease Year beginning with
the Lease Year that commences on June 1, 2015, MH LLC shall incur not less than $75,000 of Work Expenses in conducting Work on
the Property. MH LLC, if it has not terminated the Agreement on or before June 30th of any year during which it is required
to meet the Minimum Work Requirement,
shall be obligated to incur the required minimum amount of Work Expenses for the then current
Lease Year, even if it subsequently terminates the Agreement during the Lease Year in question. The annual work commitment described
in this Section 3.6 shall be referred to as the “Minimum Work Requirement.” Any Work Expenses incurred by MH LLC
in excess of $75,000 during any applicable Lease Year may be carried forward and shall apply as a credit toward the minimum amount
of Work Expenses required to be incurred or accrued during any subsequent Lease Year.
(2) Section 3.6.3 is revised to read as follows:
3.6.3 For purposes of this Section 3.6, “Work” shall mean and include all operations and activities of MH LLC (or performed at the request of MH LLC) on or for the benefit of the Property (and any technical work performed off-site that directly relates to those operations and activities) (a) for purposes of determining ore reserves and mineralization, (b) for purposes of development of Minerals from the Property, (c) for construction of a mine, processing and beneficiation facilities and related ancillary facilities, (d) for mining or (e) for mineral processing and beneficiation, including, without limitation, the right to enter upon the Property for purposes of surveying, exploring, testing, sampling, trenching, bulk sampling, prospecting and drilling for Minerals, mine construction, mine development, and to construct and use buildings, roads, power and communication lines, and to use so much of the surface of the Property in such manner as MH LLC deems necessary for the enjoyment of any rights and privileges granted to MH LLC under this Agreement or otherwise necessary to effect the purposes of this Agreement.
(3) Section 3.6.4 is revised so that the defined term “Exploration and Development Expenses” is replaced by the defined term “Work Expenses” everywhere it appears. In addition, two new clauses (g) and (h) are added to Section 3.6.4, reading as follows:
(g) All expenses incurred in conducting mining, mineral processing and beneficiation; and
(h) To the extent that expenses are incurred as part of a program or plan that includes exploration, development, mining, processing, reclamation or related activities on or for the benefit of both the Property and other properties owned or controlled by MH LLC in the vicinity of the Property, Work Expenses shall include only a proportionate share of those expenses that can be reasonably allocated to the Property.
B. The term “Exploration, Development and Related Work” is replaced by the term “Work,” and the term “Exploration and Development Expenses” is replaced by the term “Work Expenses” wherever they appear in the Xxxxxxxxxx Lease.
X. Xxxxxxxxxx and MH LLC agree to amend and restate Section 4 of the Xxxxxxxxxx Lease to read in its entirety as follows:
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4. Term. The term of this Agreement shall be for a period of ten (10) years from June 1, 2005 through the Tenth Anniversary Date (the “Primary Term”) unless sooner terminated or canceled as provided in this Agreement, and may be extended in equal ten (10) year increments thereafter so long as exploration, development and/or mining activities are ongoing at the end of the Primary Term (or at the end of any subsequent 10-year period), and all other terms and conditions of this Agreement are being met.
X. Xxxxxxxxxx and MH LLC agree to amend and restate Section 5.1 of the Xxxxxxxxxx Lease to read in its entirety as follows (the parties hereby acknowledging and agreeing that all Minimum Payments which were due prior to the Effective Date of this Third Amendment have been paid):
5.1 MH LLC will pay to Xxxxxxxxxx, in U.S. Dollars, according to the following schedule:
(a) On or before each of the following:
Eighth Anniversary Date (June 1, 2013) – $30,000
Ninth Anniversary Date – $30,000
Tenth Anniversary Date – $55,000
(b) $110,000 on or before the Eleventh Anniversary Date and each Anniversary Date thereafter. Each Minimum Payment due after the Eleventh Anniversary Date shall be increased by $2,000 over the amount of the Minimum Payment that was made on or before the previous Anniversary Date.
(c) Under no circumstances shall the obligation to make any Minimum Payment be deemed to have accrued prior to any due date set forth above.
E. In addition to MH LLC’s obligation to make the Minimum Payments as set forth above, Solitario agrees to issue shares of its common stock (to be delivered by Solitario for the benefit of MH LLC and referred to as the “Shares”) to Xxxxxxxxxx as follows:
Date |
Number of Shares |
| On or before June 1, 2013 (“Tranche One”) | 21,000 |
| On or before June 1, 2014 (“Tranche Two”) | 21,000 |
| On or before June 1, 2015 (“Tranche Three”) | 38,500 |
If on the date of delivery, the actual value of the Tranche
One Shares is less than $30,000, or on the date of delivery, the actual value of the Tranche Two Shares is less than $30,000, or
on the date of delivery, the actual value of the Tranche Three Shares is less than $55,000 (each a “Target Value”),
then MH LLC shall pay the amount of the difference between the actual value and the Target Value to Xxxxxxxxxx not later than June
15, 2013, June 15, 2014 and June 15, 2015, respectively. Solitario may also elect that the entire amount of the Target Value of
any of
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the Tranche One Shares, the Tranche Two Shares and/or the Tranche Three Shares be paid in cash in lieu of the delivery of
Shares (a “Cash Election”). If Solitario makes a Cash Election, MH LLC shall make the actual cash payment to Xxxxxxxxxx.
The actual value of each of the Tranche One, Tranche Two and Tranche Three Shares shall be based on the 20-day average closing price of the applicable Shares on the NYSE MKT (the “Exchange”), calculated for the twenty (20) trading days immediately preceding the relevant date. The Shares shall be registered in the name of “Xxxx X. and Xxxxx Xxxxxxxxxx, as joint tenants.”
In the event of any reorganization or reclassification of the shares of stock of Solitario, or any other event (including a compulsory acquisition), or a consolidation, amalgamation, arrangement or merger of Solitario with or into any other corporation or other entity, pursuant to which the common shares of Solitario are changed into or exchanged for other shares or other securities, property or cash, unless Solitario has made a Cash Election prior to the delivery to Xxxxxxxxxx of the Shares provided for under this Agreement, Solitario or its successor shall thereafter deliver to Xxxxxxxxxx at the time or times of delivery of the Shares under this Agreement, the securities, property or cash which Xxxxxxxxxx would have received as a result of such reorganization or reclassification or other event, or consolidation, amalgamation, arrangement or merger of Solitario had Xxxxxxxxxx been the registered holder of such Shares on such effective date or record date, as the case may be, and Xxxxxxxxxx shall be bound to accept such securities, property or cash in lieu of the Shares to which it was previously entitled.
F. With respect to the Shares to be delivered to Xxxxxxxxxx under Paragraph E of this Third Amendment:
(1) Xxxxxxxxxx represents and warrants to MH LLC and Solitario (which such representations and warranties shall be true and correct as of the Effective Date and thereafter through the date(s) of delivery of the Shares), as follows:
(a) Xxxxxxxxxx has taken full cognizance of and understands all of the risk factors related to the purchase of the Shares, including the possible loss of the total amount of the investment. Xxxxxxxxxx has sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of an investment in Solitario, and Xxxxxxxxxx is able to bear a complete loss of Xxxxxxxxxx’x entire investment.
(b) Xxxxxxxxxx has had sufficient access to documents,
materials and information concerning Solitario as Carrington deems necessary or appropriate for evaluating an investment in Solitario.
Xxxxxxxxxx has received and reviewed a copy of Solitario’s Prospectus Supplement (including without limitation the Base Prospectus
included therewith) to be filed with the Securities and Exchange Commission (“SEC”) pursuant to rule 424(b)(5) of the
Securities Act of 1933, as amended, and relating to Solitario’s Registration Statement on Form S-3 (Reg. No. 333-172929),
as amended (the “Prospectus Supplement”). Xxxxxxxxxx was able to make
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such appropriate independent investigation as
Xxxxxxxxxx deemed necessary to verify the information furnished and to obtain such information as Xxxxxxxxxx requested prior to
making the decision to enter into this Agreement. Xxxxxxxxxx has had a reasonable opportunity to review the Prospectus Supplement
and ask questions of and receive answers from Solitario’s officers, or a person or persons acting on their behalf, concerning
Solitario, the Prospectus Supplement and the Shares and all such questions have been answered to Xxxxxxxxxx’x full satisfaction.
(c) No oral or written representations or statements have been made in connection with the offering of the Shares other than as set forth in the Prospectus Supplement.
(d) No foreign, federal, or state authority has made a finding or determination as to the fairness for investment of the Shares and no foreign, federal or state authority has recommended or endorsed or will recommend or endorse the Shares.
(2) Solitario represents and warrants to Xxxxxxxxxx that the Shares to be issued pursuant to this Agreement (i) will, when issued, be duly authorized, validly issued, fully paid and non-assessable and (ii) will be issued pursuant to the Registration Statement, and will not be “restricted securities” within the meaning of Rule 144 under the Securities Act of 1933, as amended.
(3) Promptly after the Effective Date, Solitario shall make an application to each of the Exchange and the Toronto Stock Exchange for the additional listing of the Shares. The parties hereto agree that Solitario shall have the right to provide a copy of this Third Amendment to the Exchange and the Toronto Stock Exchange as required. Solitario shall have no obligation to issue the Shares until the listing applications have been approved by both the Exchange and the Toronto Stock Exchange. If the approval of either the Exchange or the Toronto Stock Exchange cannot be obtained, MH LLC and Solitario may terminate this Third Amendment by providing written notice to Xxxxxxxxxx, they shall have no further obligations or liability to Xxxxxxxxxx under this Third Amendment, and this Third Amendment will have no further force or effect on the Xxxxxxxxxx Lease as currently amended.
(4) Xxxxxxxxxx acknowledges and agrees that Solitario will file the Prospectus Supplement with the relevant U.S. and Canadian securities regulators and stock exchanges, as well as an 8-K filing and related press release which describe the transactions set forth in this Third Amendment.
X. Xxxxxxxxxx and MH LLC agree to amend Section 5.3 of the Xxxxxxxxxx Lease as follows:
| (i) | By changing the number “$500,000” to “$600,000,” and by changing the number “$1,000,000” to “$1,200,000.” |
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| (ii) | By revising the sixth sentence so that the language regarding the second phase of the royalty buy-down is revised to read “at the rate of $1,200,000 per 3/4 of one percentage point (.75%) for the next one and one-half (1.50) percentage points.” |
| (iii) | By changing the reference in the sixth sentence to reducing the NR by purchasing “up to four (4%) percentage points” to purchasing “up to three and one-half (3.50) percentage points.” |
| (iv) | By changing the language in the ninth sentence from “leaving J Xxxxxxxxxx with a one-half of one percentage point percent (0.5%) NR” to “leaving Xxxxxxxxxx with a one percent (1%) NR.” |
X. Xxxxxxxxxx and MH LLC agree to amend and restate Section 18 of the Xxxxxxxxxx Lease to read in its entirety as follows:
18. Indemnity. MH LLC shall defend, indemnify and save harmless Xxxxxxxxxx, his successors and assigns, of and from any and all liability whatsoever for any claims, actions or damages, including court costs and attorney’s fees, in any way arising from or relating to MH LLC’s occupation, and use of the Property, or its operations on or in the Property after the Effective Date. Xxxxxxxxxx shall defend, indemnify and save harmless MH LLC, its successors and assigns, of and from any and all liability whatsoever for any claims, actions or damages, including court costs and attorney’s fees, in anyway arising from or relating to (a) Xxxxxxxxxx’x occupation, ownership and use of the Property, or his operations on or in the Property, in either case before the Effective Date or after termination of this Agreement or after MH LL’s re-conveyance to Xxxxxxxxxx of any lands or mining claims surrendered by MH LLC in accordance with this Agreement, as applicable, and (b) Xxxxxxxxxx’x use of the Xxxxxxxx Property. The parties’ defense, indemnification and hold harmless obligations shall extend to and include, but not be limited to, any and all claims, actions or damages arising from or relating to Federal, state or local laws, regulations or ordinances concerning the preservation of the environment or reclamation of the Property, including the Comprehensive Environmental Response, Compensation and Liability Act and the Resource Conservation and Recovery Act, and shall survive the termination of this Agreement.
X. Xxxxxxxxxx and MH LLC agree to amend and restate Section 26.2 of the Xxxxxxxxxx Lease to read in its entirety as follows:
26.2 Termination by MH LLC.
(a) MH LLC may terminate this Agreement any time
after June 1, 2015, by giving written notice to Xxxxxxxxxx. Such termination shall be effective as of the date of receipt of such
notice by Xxxxxxxxxx. On or promptly after delivery of the notice of termination, MH LLC shall execute and deliver to Xxxxxxxxxx
a written release of its interest in this
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Agreement in proper form for recording in White Pine County. In the event of such termination,
MH LLC shall have no further obligations or liabilities whatsoever to Xxxxxxxxxx under this Agreement, other than those set forth
in Sections 3.6, 7 and 18, and those set forth in Section 26.2(b) below.
(b) Upon such termination, MH LLC grants to Xxxxxxxxxx, effective as of the date of such termination, a right of access over and on that 160-acre parcel of land known as the “Xxxxxxxx Property” (as more particularly described in Exhibit B attached hereto and incorporated herein by reference), so long as such access does not unreasonably interfere with MH LLC’s current or planned exploration, development, mining, processing, reclamation or related operations on the Xxxxxxxx Property or any real property owned or controlled by MH LLC in the vicinity of the Xxxxxxxx Property. If Xxxxxxxxxx desires to conduct any activities on the Xxxxxxxx Property, Xxxxxxxxxx shall provide notice to MH LLC of the nature of those planned activities and their expected duration, at least twenty (20) days prior to the commencement of such activities. If MH LLC believes that any of Xxxxxxxxxx’x planned activities on the Xxxxxxxx Property will unreasonably interfere with MH LLC’s existing or planned activities, MH LLC shall notify Xxxxxxxxxx within ten (10) days after its receipt of such notice, and in that event the parties shall negotiate in good faith to attempt to agree on an alternative that is acceptable to both parties. Xxxxxxxxxx shall not commence any such activities until the parties have agreed to a mutually acceptable alternative. Any activities conducted by Xxxxxxxxxx on the Xxxxxxxx Property shall be conducted in accordance with applicable federal, state and local laws, rules, and regulations, and all applicable MH LLC safety procedures.
(c) Following such termination, MH LLC shall continue to have access to the Property as necessary to perform and complete all reclamation obligations pertaining to the Property for which it is responsible, as set forth in Section 28 of this Agreement.
J.
Upon the permanent cessation of MH LLC’s use (or that of its successors or assigns) of the Xxxxxxxx Property for exploration,
development, mining or related activities, MH LLC shall notify Xxxxxxxxxx, and Xxxxxxxxxx shall have the option to purchase all
of MH LLC’s interest (surface and any mineral rights, subject to the royalty reserved by the previous owner of the Xxxxxxxx
Property) in the Xxxxxxxx Property (the “Option Right”), exercisable by providing written notice to MH LLC at any time
within 30 days after receipt of the notice. The purchase price for MH LLC’s interest in the Xxxxxxxx Property shall be $10.
If Xxxxxxxxxx timely exercises the Option Right, MH LLC shall quitclaim the Xxxxxxxx Property to Xxxxxxxxxx (or Xxxxxxxxxx’x
heirs, assigns or designees) without any representations and warranties whatsoever as to title to, environmental liabilities or
conditions at or affecting or from, or otherwise with respect to, the Xxxxxxxx Property. For purposes of this Section 26.2(c),
the “permanent cessation” of MH LLC’s activities on the Xxxxxxxx Property shall be deemed to have occurred when
no activities have taken place for two years. For the avoidance of doubt, if Solitario
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publicly announces that such activities
have only been temporarily halted or suspended, permanent cessation shall not be deemed to have occurred. If Xxxxxxxxxx exercises
the Option Right, the quitclaim deed will provide that MH LLC shall continue to have access to the Xxxxxxxx Property as necessary
to perform and complete all reclamation obligations pertaining to the Xxxxxxxx Property for which it is responsible, and that Xxxxxxxxxx’x
use of the Xxxxxxxx Property shall not unreasonably interfere with any of such ongoing reclamation obligations.
K. The provisions of Paragraph I of the Second Amendment are hereby deleted from the Xxxxxxxxxx Lease in their entirety, and replaced by Paragraph J of this Third Amendment.
L. The reference to “Second Amendment” in the next to the last sentence of Section H of the Second Amendment is hereby revised to read “Third Amendment.”
M. All capitalized terms used but not defined in this Third Amendment shall have the meaning ascribed to them in the Xxxxxxxxxx Lease.
X. Xxxxxxxxxx and MH LLC agree that the Property, as defined in the Xxxxxxxxxx Lease, consists of all of the unpatented mining claims set forth on the attached Exhibit A. At MH LLC’s election, MH LLC may prepare, the parties shall execute and deliver, and MH LLC may record in the official records of White Pine County, a Memorandum of this Third Amendment for purposes of providing record notice of the unpatented mining claims currently comprising the Property covered by the Xxxxxxxxxx Lease.
O. MH LLC and Xxxxxxxxxx agree to amend Section 15.1 of the Xxxxxxxxxx Lease to read as follows:
Beginning with the annual assessment work period of September 1, 2004, to September 1, 2005, and for each annual assessment work year thereafter, during the term of this Agreement, MH LLC shall pay all applicable Claim Maintenance Fees, Filing Fees, Recording Fees, and other fees as may be applicable, and do or cause to be done all other acts to maintain and protect the title of the Property. Provided, that if MH LLC elects to terminate this Agreement or surrender any of the unpatented mining claims that form a part of the Property before March 1 of any year, it shall have no further obligation to perform annual assessment work or pay Claim Maintenance Fees, Filing Fees or Recording Fees, nor to prepare, record and/or file evidence of the same with respect to that year for all of the unpatented mining claims or the surrendered unpatented mining claims, as the case may be. MH LLC shall timely and properly pay all appropriate Federal, state and local annual mining claim maintenance or rental fees, and shall execute and record or file, as applicable, proof of such payment and of Xxxxxxxxxx’x intention to hold the Property. In all cases MH LLC will make such payments and execute such recordings and filings, no later than June 1 of each year. MH LLC will further provide Xxxxxxxxxx with proof of such payments, recordings and filings on or before July 1 of each respective year. Provided that if MH LLC elects to terminate this Agreement or surrender any of the unpatented mining claims that form a part of the Property after March 1 of any year, it shall be obligated to pay the fees, and record and file proof of payment of the fees with respect to that year, for all of the unpatented mining claims or the surrendered unpatented mining claims, as the case may be.
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P. MH LLC and Xxxxxxxxxx agree to add the following language to the beginning of Section 29 of the Xxxxxxxxxx Lease:
MH LLC agrees that except as set forth in this Section 29, it will not dispose of or discard any cores, sample rejects or pulps from the Property (other than such materials that are disposed of as part of the normal course of the drilling or testing processes), or data relating thereto, without first obtaining written consent from Xxxxxxxxxx. Prior to disposing of or discarding any such materials, either upon termination of this Agreement or sooner if MH LLC desires, MH LLC shall notify Xxxxxxxxxx of such intention. Within sixty (60) days after receipt of such notice, Xxxxxxxxxx may elect to take possession of all or any such materials. If Xxxxxxxxxx elects to take possession of said cores, sample rejects, pulps or data, MH LLC will make the same available to Xxxxxxxxxx at the Property. If Xxxxxxxxxx fails to timely provide notice of the desire to take possession of any or all such materials, or if Xxxxxxxxxx elects not to take possession of such materials, MH LLC may immediately dispose of or discard the same.
Q. The parties hereby confirm and agree that the Xxxxxxxxxx Lease, as amended by the terms and provisions of this Third Amendment, and all of the terms and conditions of the Second Amendment, except to the extent specifically modified herein, remain in full force and effect.
[Remainder of page intentionally left blank.]
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IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the date first set forth above.
By: /s/ Xxxx X. Xxxxxxxxxx
Xxxx X. Xxxxxxxxxx
By: /s/ Xxxxx Xxxxxxxxxx
Xxxxx Xxxxxxxxxx
SOLITARIO EXPLORATION & ROYALTY CORP., a Colorado corporation (which executes this Third Amendment only in connection with the obligations set forth in Paragraphs E and F)
By: /s/ Xxxxx X. Xxxxxxxx
Name: Xxxxx X. Xxxxxxxx
Title: CFO
MT. XXXXXXXX LLC
By: SOLITARIO ROYALTY & EXPLORATION CORP.,
its Manager
By: /s/ Xxxxx X. Xxxxxxxx
Name: Xxxxx X. Xxxxxxxx
Title: CFO
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ACKNOWLEDGMENTS
STATE OF Nevada )
) ss.
COUNTY OF Xxxxxxxxx )
The foregoing instrument was acknowledged before me this 23 day of May, 2013, by Xxxx X. Xxxxxxxxxx.
Witness my hand and official seal.
My commission expires: 8/1/2015
/s/ Xxxxxx Xxx Xxxxxxxxxx
Notary Public
STATE OF Nevada )
) ss.
COUNTY OF Xxxxxxxxx )
The foregoing instrument was acknowledged before me this 23 day of May, 2013, by Xxxxx Xxxxxxxxxx.
Witness my hand and official seal.
My commission expires: 8/1/2015
/s/ Xxxxxx Xxx Xxxxxxxxxx
Notary Public
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STATE OF Colorado )
) ss.
COUNTY OF Jefferson )
The foregoing instrument was acknowledged before me this 23 day of May, 2013, by Xxxxx X. Xxxxxxxx, as CFO of Solitario Exploration & Royalty Corp., a Colorado corporation.
Witness my hand and official seal.
My commission expires: 10/27/14
/s/ Xxxxx Xxxx
Notary Public
STATE OF Colorado )
) ss.
COUNTY OF Jefferson )
The foregoing instrument was acknowledged before me this 23 day of May, 2013, by Xxxxx X. Xxxxxxxx, as CFO of Solitario Royalty & Exploration Corp., a Colorado corporation, as Manager of Mt. Xxxxxxxx LLC, a Colorado limited liability company.
Witness my hand and official seal.
My commission expires: 10/27/14
/s/ Xxxxx Xxxx
Notary Public
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Exhibit A
Mining Claims Covered by Xxxxxxxxxx
Lease
| Claim Name | White Pine County Recording Information | BLM Serial No. |
| Venus Lode | B 378 / P 193 | NMC 861421 |
| May Lode | B 378 / P 195 | NMC 861422 |
| Xxxx Xxxx | B 378 / P 192 | NMC 861423 |
| Ada Fraction | B 378 / P 194 | NMC 861424 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 00 | X 000 / X 000 | XXX 000000 |
| AR 000 | X 000 / X 000 | XXX 1044898 |
| AR 000 | X 000 / X 000 | XXX 0000000 |
| JC 11 | B 565 / P 525 | NMC 1044891 |
| JC 13 | B 565 / P 526 | NMC 1044892 |
| JC 14 | B 565 / P 527 | NMC 1044893 |
| JC 15 | B 565 / P 528 | NMC 1044894 |
| JC 16 | B 565 / P 534 | NMC 1047577 |
| JC 17 | B 565 / P 535 | NMC 1047578 |
| JC 18 | B 565 / P 536 | NMC 1047579 |
| JC 20 | B 565 / P 529 | NMC 1044895 |
| JC 21 | B 565 / P 530 | NMC 1044896 |
| JC 22 | B 565 / P 531 | NMC 1044897 |
| JC 30 | B 565 / P 537 | NMC 1047580 |
| JC 31 | B 565 / P 538 | NMC 1047581 |
| XX 00 | X 000 / X 000 | XXX 0000000 |
| JC 33 | B 565 / P 540 | NMC 1047583 |
| JC 34 | B 565 / P 541 | NMC 1047584 |
| JC 35 | B 565 / P 542 | NMC 1047585 |
| JC 40 | B 573 / P 170 | NMC 1054204 |
| XXX 0 | X 000 / X 000 | XXX 0000000 |
| XXX 0 | X 000 / X 000 | XXX 0000000 |
| XXX 0 | X 000 / X 000 | XXX 0000000 |
| XXX 0 | X 000 / X 000 | XXX 0000000 |
| XXX 0 | X 000 / X 000 | XXX 0000000 |
| XXX 0 | X 000 / X 000 | XXX 0000000 |
| XXX 00 | X 000 / X 000 | XXX 0000000 |
| XXX 00 | X 000 / X 000 | XXX 0000000 |
| XXX 00 | X 000 / X 000 | XXX 0000000 |
A-1
|
JWP 21 |
B 596 / P 415 |
NMC 1082926 |
| XXX 00 | X 000 / X 000 | XXX 0000000 |
| XXX 00 | X 000 / X 000 | XXX 0000000 |
| XXX 000 | X 000 / X 000 | XXX 0000000 |
A-2
Exhibit
B
The following described lands located in White Pine County, Nevada:
Township 16 North, Range 57 East, MDB&M
Section 20: SE1/4 (160 acres)
B-1
