Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2023

Commitments and Contingencies [Abstract]

Schedule of Annual Advance Royalty Payments

The Company has four leases which require annual advance royalty payments according to the following schedules. These leases are out of the scope of ASC 842 Leases, and any advance royalty paid is expensed off as exploration expenses. Once in production, each agreement attracts payment of net smelter royalties as per the following table.

	Connolly			Webster(1)			Orser			Meeteren			Total
2023	$	10,000		$	7,500		$	20,000		$	2,400		$	39,900
2024		-			-		$	20,000		$	2,400		$	22,400
2025		-			-			-		$	2,400		$	2,400
2026		-			-			-		$	2,400		$	2,400
2027		-			-			-		$	2,400		$	2,400
2028		-			-			-		$	2,400		$	2,400
2029		-			-			-		$	2,400		$	2,400
2030		-			-			-		$	2,400		$	2,400
Applicable NSRs		3.0	%		3.0	%		3.0	%		3.0	%

(1) All amounts of annual advance minimum royalties paid during a calendar year shall be applied toward all amounts of earned mineral production royalties payable during that calendar year.

Schedule of Lease Payments

Under the Lunar Lease, RMM shall expend as minimum work commitments of $50,000 per year starting in 2017 until a cumulative of $500,000 of expense has been incurred. If RMM fails to perform its obligations under the Lunar Lease, and in particular fails to make any payment due to Lunar thereunder, Lunar may declare RMM in default by giving RMM written notice of default which specifies the obligation(s) which RMM has failed to perform. If RMM fails to remedy a default in payment within fifteen (15) days of receiving the notice of default or fails to remedy or commence to remedy any other default within thirty (30) days of receiving notice, Lunar may terminate the Lunar Lease and RMM shall peaceably surrender possession of the properties to Lunar. Notice of default or of termination shall be in writing and served in accordance with the Lunar Lease. RMM has made all required payments and has paid Lunar $132,000 as of June 30, 2023, and makes lease payments on the following schedule:

Payment due July	Annual Payment
2023-2026	$	21,000
2027-2031	$	25,000
2032-2036	$	30,000
2037-2041	$	40,000
2042-2046	$	45,000