May 17, 2011Letter Agreement • May 18th, 2011 • Solitario Exploration & Royalty Corp. • Gold and silver ores
This letter (the “Letter Agreement”) will confirm certain agreements between Solitario Exploration & Royalty Corp. (“Solitario”) and DHI Minerals (U.S.) Ltd. (“DHI US”), as the Members of Mt. Hamilton LLC, a Colorado limited liability company (“MH LLC”), concerning the buy-down by MH LLC of a portion of the production royalty payable under the Mt. Hamilton Lease (as defined in paragraph 1 below) and related amendments to the December 22, 2010 Limited Liability Operating Agreement of MH LLC (the “Operating Agreement”). For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confirmed, Solitario and DHI US agree as follows:
PURCHASE AGREEMENTPurchase Agreement • May 18th, 2011 • Solitario Exploration & Royalty Corp. • Gold and silver ores • Nevada
THIS PURCHASE AGREEMENT (the “Agreement”) is made and entered into this 17th day of May, 2011 (the “Effective Date”), by and among Centennial Minerals Company LLC, a Nevada limited liability company, whose address is P.O. Box 21350, Carson City, Nevada 89721 (“CMC”), Mt. Hamilton LLC, a Colorado limited liability company, whose address is 4251 Kipling Street, Suite 390, Wheat Ridge, Colorado 80033 (“MH LLC”), and Solitario Exploration & Royalty Corp., the Manager of MH LLC, whose address is 4251 Kipling Street, Suite 390, Wheat Ridge, Colorado 80033 (“Solitario”).
