CONFIDENTIAL Mr. Ken Liebscher, (“AquisitionCo”) Dear Sirs: Re: Nevada BLM Claim and Leased Silver Mines
Exhibit
10.1
February
8, 2010
CONFIDENTIAL
Xx.
Xxx Xxxxxxxxx, (“AquisitionCo”)
Dear
Sirs:
Re:
Nevada BLM Claim and Leased Silver Mines
This
letter is to confirm the agreement between the undersigned (“AcquisitionCo”) to
acquire from Xxxxx Xxxxxx Projects LLC and Xxxx Xxxxxxxx (“Vendors”), 38
unpatented BLM claims including those known as Silver Summit and Xxxxxxxxxx and
2 historic silver mine leases (“Ag Properties”) known as Lucky Boy Silver Mine
and the Black Butte Silver Mine. It is understood and agreed the
Vendors will provide a detailed description of the claims and the leases within
10 business days of the execution of this letter of agreement.
The
following terms and conditions shall apply to this Acquisition:
1.
AcquistionCo will pay $55,000USD to Xxxxx Xxxxxx Projects LLC, Las Vegas, NV for
expenses related to staking, filing and registration of the BLM claims and
negotiation of the property leases. This payment will also provide the first
years maintenance payment to the BLM and the first annual payment on the
property leases.
2.
Vendors will assign 100% of their interest in the Ag Properties to the
AcquisitionCo.
3. In the
event that Xxxxx Xxxxxx is not able to present signed leases for any of the four
properties described above, all funds allocated to the missing property and
delivered to Xxxxx Xxxxxx pursuant to this agreement shall be immediately
returned to AcquisitionCo in their entirety.
4.
AcquisitionCo will issue 150,000 shares of its stock to the Vendors allocating
75,000 shares to Xxxx Xxxxxxxx and 75,000 shares to Xxxxx Xxxxxx Projects LLC.
The AcquisitionCo will give consent to the transfer agent to remove any
restrictive legend applying to these shares at the earliest date permitted by
the rule.
“Vendors”
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Signed:
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XXxxxx |
,
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Xxxx
Xxxxx, Xxxxx Xxxxxx Projects LLC,
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Xxxx
Xxxxxxxx
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Date:
February 8, 2010
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“AcquisitionCo”
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Signed:
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Date:
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2/8/10 |